Oregon Statutes 468B.525 – Seismic Risk Mitigation Fund
(1) The Seismic Risk Mitigation Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Seismic Risk Mitigation Fund shall be credited to the fund.
Terms Used In Oregon Statutes 468B.525
- state government: means the executive department, the judicial department and the legislative department. See Oregon Statutes 174.111
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
(2) Moneys in the Seismic Risk Mitigation Fund shall consist of:
(a) Money appropriated to the fund by the Legislative Assembly;
(b) Fees deposited in the fund under ORS § 468B.513;
(c) Moneys transferred to the fund from the federal or state government; or
(d) Gifts, grants and donations received from any source.
(3) All moneys in the Seismic Risk Mitigation Fund are continuously appropriated to the Department of Environmental Quality for the purposes of:
(a) Reviewing seismic risk mitigation implementation plans submitted under ORS § 468B.513 and seismic risk assessments submitted under ORS § 468B.510; and
(b) Providing grants or other financial assistance to owners or operators of bulk oils or liquid fuels terminals under ORS § 468B.513 (2)(k). [2022 c.99 § 6]
Sections 15 and 17, chapter 99, Oregon Laws 2022, provide:
No later than November 1, 2024, the Department of Environmental Quality shall provide a report, including recommendations for legislation, to the interim committees of the Legislative Assembly related to energy, in the manner provided under ORS § 192.245. The report required under this section must include:
(1) A summary of information received by the department under section 2 of this 2022 Act [468B.510]; and
(2) Policy recommendations for making the provisions of sections 2 to 6 of this 2022 Act [468B.510 to 468B.525] applicable to additional regions of this state, based on the risk to each additional region from an earthquake or tsunami. [2022 c.99 § 15]
Sections 15 and 16 of this 2022 Act are repealed on January 2, 2025. [2022 c.99 § 17]
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