(1) As used in this section:
(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]
Note: See note under 293.144.
Section: Previous 293.120 293.125 293.130 293.135 293.140 293.144 293.145 293.146 293.148 293.150 293.155 293.160 293.165 293.167 293.169 NextLast modified: August 7, 2008