2011 ORS § 351.628¹
Higher Education Academic Modernization Account

(1) There is established in the General Fund an account to be known as the Higher Education Academic Modernization Account. Funds in the account shall be used at public universities listed in ORS 352.002 (Oregon University System) for academic modernization, capital repair, deferred maintenance and making facilities compliant with building and safety codes.

(2) The account shall consist of funds donated to the Oregon University System for the purposes described in subsection (1) of this section. The account may also consist of other funds available to the Oregon University System for the purposes described in subsection (1) of this section. The Oregon University System may not deposit any moneys into the account that were appropriated to the Department of Higher Education under chapter 725, Oregon Laws 2003. Interest earned on moneys in the account shall be credited to the account.

(3) Moneys in the account are continuously appropriated to the Oregon University System for the purposes described in subsection (1) of this section. The account may not be credited with more than $1,000,000 in interest, donations and other funds. [2003 c.725 §12; 2011 c.2 §65; 2011 c.637 §224]

Note: See note under 351.509 (Portland State University Center for Nanoscience and Nanotechnology Account).

Note: Legislative Counsel has substituted chapter 725, Oregon Laws 2003, for the words this 2003 Act in section 12, chapter 725, Oregon Laws 2003, compiled as 351.628 (Higher Education Academic Modernization Account). Specific ORS references have not been substituted, pursuant to 173.160 (Powers and duties of Legislative Counsel in preparing editions for publication). The sections for which substitution otherwise would be made may be determined by referring to the 2003 Comparative Section Table located in Volume 20 of ORS.