2015 Regular Session
|At the request of:||(at the request of House Interim Committee on Revenue)|
|Bill Title:||Proposing amendment to Oregon Constitution relating to state finance.|
Establishes Stability Fund.
Directs that revenues from capital gains taxes and estate taxes be deposited in fund. Requires that amount equal to one percent of General Fund appropriations for biennium be transferred from Stability Fund to Oregon Rainy Day Fund each biennium. Transfers remainder of Stability Fund to State School Fund each biennium. Transfers all moneys in Stability Fund to Oregon Rainy Day Fund if revenues received from General Fund revenue sources exceed revenue estimate for biennium by two percent or more. Reduces amount of transfer to Oregon Rainy Day Fund and transfers remaining moneys in Stability Fund to General Fund if revenue forecast projects revenues will be at least two percent below revenue estimate for biennium. Applies to biennia beginning on or after July 1, 2017. Refers proposed amendment to people for their approval or rejection at next regular general election.
|Fiscal Impact:||May Have Fiscal Impact, But No Statement Yet Issued|
|Revenue Impact:||May Have Revenue Impact, But No Statement Yet Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In House Committee|
|Current Committee:||House Committee On Revenue|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|