Oregon Statutes 427.347 – Administration of Developmental Disabilities Community Housing Fund by Oregon Community Foundation
(1) Notwithstanding the continuous appropriation of moneys in the Developmental Disabilities Community Housing Fund established under ORS § 427.340, the balance of moneys remaining in the Community Housing Trust Account established in ORS § 427.340 on January 1, 2020, that are unexpended, unobligated and not subject to any conditions shall be transferred to the Oregon Community Foundation for the purposes described in ORS § 427.335. The foundation shall be advised by and shall consult with the advisory committee appointed under ORS § 427.348 regarding any expenditures made from the moneys transferred to the foundation under this section.
Terms Used In Oregon Statutes 427.347
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(2) The Oregon Community Foundation shall annually report to the Department of Human Services the balance remaining of the moneys transferred under subsection (1) of this section and the uses for expenditures made from the moneys transferred. If the department finds that any expenditure is not authorized under the requirements of ORS § 427.335, the foundation must pay to the department the amount of the unauthorized expenditure. The department shall deposit the payment to the Developmental Disabilities Community Housing Fund. [2019 c.551 § 1]
427.347 and 427.348 were enacted into law by the Legislative Assembly but were not added to or made a part of ORS Chapter 427 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.