Transfer of moneys from Strategic Reserve Fund
(1) The Oregon Business Development Department may transfer moneys credited to the Strategic Reserve Fund created under ORS 285B.266 (Strategic Reserve Fund) to the Oregon Business Retention and Expansion Program Fund established under ORS 285B.620, to be used for the purpose of making the loans provided by the agreements entered into under ORS 285B.615 (Oregon Business Retention and Expansion Program), and in accordance with the provisions of ORS 285B.600 (Definitions for ORS 285B.600 to 285B.620) to 285B.620.
(2) Unless approved by the Joint Committee on Ways and Means or, if the Legislative Assembly is not in session, the Emergency Board, administrative expenses of the Oregon Business Development Department incurred in connection with the implementation and administration of ORS 285B.600 (Definitions for ORS 285B.600 to 285B.620) to 285B.620 may not be paid from funds transferred pursuant to this section. Expenses that are project-related are not considered to be administrative expenses of the department. [2013 c.572 §2]
Note: 285B.622 (Transfer of moneys from Strategic Reserve Fund) was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
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