(1) There hereby is established in the General Fund of the State Treasury the Administrative Services Economic Development Fund. All moneys transferred from the State Lottery Fund, interest earnings credited to this fund and other moneys authorized to be transferred to this fund from whatever source are appropriated continuously for any of the following public purposes:
(a) Creating jobs;
(b) Furthering economic development in Oregon; or
(c) Financing public education.
(2) Moneys shall be transferred from the Administrative Services Economic Development Fund to the Education Stability Fund established under ORS 348.696 as described in section 4, Article XV of the Oregon Constitution.
(3) As used in this section and section 4, Article XV of the Oregon Constitution:
(a) “Creating jobs” includes, but is not limited to:
(A) Supporting the creation of new jobs in Oregon;
(B) Helping prevent the loss of existing jobs in Oregon;
(C) Assisting with work transition to new jobs in Oregon; or
(D) Training or retraining workers.
(b) “Education” includes, but is not limited to, the Education Stability Fund established under ORS 348.696 and specific programs that support the following:
(A) Prekindergartens;
(B) Elementary and secondary schools;
(C) Community colleges;
(D) Higher education;
(E) Continuing education;
(F) Workforce training and education programs; or
(G) Financial assistance to Oregon students.
(c) “Furthering economic development” includes, but is not limited to, providing:
(A) Services or financial assistance to for-profit and nonprofit businesses located or to be located in Oregon;
(B) Services or financial assistance to business or industry associations to promote, expand or prevent the decline of their businesses; or
(C) Services or financial assistance for facilities, physical environments or development projects, as defined in ORS 285B.410, that benefit Oregon’s economy. [1985 c.302 §7(7); 1995 c.12 §7; 2002 s.s.3 c.6 §18; 2005 c.835 §27]
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