(1) The Shared Services Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Shared Services Fund shall be credited to the Shared Services Fund.
(2) All moneys in the Shared Services Fund are continuously appropriated to the Oregon Department of Administrative Services, for the purpose of making distributions described in subsection (3) of this section.
(3) The department shall annually distribute to taxing districts the moneys from the Shared Services Fund:
(a) In proportion to the amount of money transferred into the fund for each eligible project that received a property tax exemption under ORS 307.123; and
(b) Consistent with the distribution of the community services fee under ORS 285C.609 for that project.
(4) The department shall furnish the Oregon Economic and Community Development Commission with information on the recipients of the distributions and the amounts distributed under this section, as requested by the commission. [2007 c.905 §4]
Note: See second note under 285C.635.
Note: Section 5, chapter 905, Oregon Laws 2007, provides:
Sec. 5. The Oregon Economic and Community Development Commission shall submit a report on the amount of moneys transferred to the Shared Services Fund and the amount of moneys distributed under section 4 of this 2007 Act [285C.639] to the appropriate House and Senate committees relating to revenue on or before May 1, 2013. [2007 c.905 §5]
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Section: Previous 285C.503 285C.506 285C.530 285C.533 285C.600 285C.603 285C.606 285C.609 285C.612 285C.615 285C.620 285C.623 285C.626 285C.635 285C.639Last modified: August 7, 2008