(1) There is hereby created within the State Treasury a fund, separate and distinct from the General Fund, to be known as the Basic Research Fund. Moneys may be credited to the fund from any public or private source. Interest earnings of the fund from whatever source shall be credited to the fund.
(2) The fund shall be administered by the State Board of Higher Education according to policies and procedures adopted pursuant to ORS 351.880 and 351.885.
(3) Expenditures from the fund shall take the form of grants for a time certain and may extend beyond the biennium in which the expenditure is made. Grants may not be used for capital construction. [1983 c.429 §7]Section: Previous 351.770 351.780 351.790 351.800 351.810 351.820 351.830 351.840 351.865 351.870 351.875 351.880 351.885 351.890 351.990 Next
Last modified: August 7, 2008