Transfer of moneys to Rainy Day Fund
(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 (Reversion of appropriations to General Fund).
(c) "Legislatively approved budget" has the meaning given that term in ORS 291.002 (Definitions).
(2) Except as provided in ORS 293.148 (Cap on amount), 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 (Oregon Rainy Day Fund). 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 (Oregon Rainy Day Fund).
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