2017 ORS 284.367¹
Oregon Production Investment Fund
  • source of moneys in fund
  • uses of moneys

(1) The Oregon Production Investment Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Oregon Production Investment Fund shall be credited to the fund.

(2) Moneys in the Oregon Production Investment Fund shall consist of:

(a) Amounts donated to the fund;

(b) Amounts appropriated or otherwise transferred to the fund by the Legislative Assembly;

(c) Other amounts deposited in the fund from any source; and

(d) Interest earned by the fund.

(3) Eighty-nine and one-half percent of moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purposes of making:

(a) Reimbursements to filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund);

(b) Payments to a tax credit marketer for marketing services provided by the marketer as described in ORS 284.369 (Marketing); and

(c) Refunds described in ORS 315.514 (Film production development contributions) (5).

(4) Seven and one-half percent of moneys in the fund are continuously appropriated to the department for the purpose of making reimbursements to local filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund) (3). Total annual reimbursements to local media production services companies under this subsection may not exceed seven and one-half percent of the moneys deposited annually in the fund. On July 1 of each fiscal year, any moneys that remain unexpended or unallocated from the previous fiscal year may be used by the department for the purpose of making reimbursements to filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund) (2).

(5) Three percent of moneys in the fund are continuously appropriated to the department for the purpose of making payments to filmmakers under ORS 284.368 (Reimbursement from fund) (4). Total annual payments to filmmakers under this subsection may not exceed five percent of the moneys deposited annually in the fund. On July 1 of each fiscal year, any moneys that remain unexpended or unallocated from the previous fiscal year may be used by the department for the purpose of making payments to filmmakers under this section. Any excess over five percent that remains unexpended or unallocated shall be used by the department for the purpose of making reimbursements to filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund) (2).

(6) Expenditures from the fund are not subject to ORS 291.232 (Declaration of policy) to 291.260 (Approving, modifying or disapproving requests and budgets to be submitted to the federal government). [2003 c.736 §79; 2009 c.471 §2; 2011 c.730 §§14,15; 2013 c.750 §48; 2016 c.29 §6]

1 Legislative Counsel Committee, CHAPTER 284—Organizations for Economic Development, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors284.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.