Oregon Statutes 293.146 – Transfer of moneys to Rainy Day Fund
(1) As used in this section:
Terms Used In Oregon Statutes 293.146
- 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
(a) ‘Ending balance’ means the difference between the amount of General Fund revenues collected during a biennium and the amount of General Fund appropriations for the biennium.
(b) ‘General Fund appropriations’ means the amount of moneys appropriated from the General Fund for a biennium in the legislatively approved budget for the biennium, minus the amount of any General Fund appropriation balances for that biennium that revert to the General Fund under ORS § 293.190.
(c) ‘Legislatively approved budget’ has the meaning given that term in ORS § 291.002.
(2) Except as provided in ORS § 293.148, as soon as possible after the ending balance for a biennium is determined, an amount equal to one percent of the amount of General Fund appropriations for that biennium shall be transferred to the Oregon Rainy Day Fund established by ORS § 293.144. If the ending balance does not equal or exceed one percent of the amount of General Fund appropriations, an amount equal to the ending balance shall be transferred to the Oregon Rainy Day Fund. [2007 c.5 § 4]
See note under 293.144.