(1) If the moneys in the Oregon Rainy Day Fund established by ORS § 293.144 just prior to the time of a transfer scheduled under ORS § 293.144 (3) or 293.146 equal at least 7-1/2 percent of the amount of General Fund revenues collected during the prior biennium, moneys that would otherwise be transferred to the Oregon Rainy Day Fund shall be deposited in the General Fund.

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(2) If the moneys in the Oregon Rainy Day Fund just prior to the time of a transfer scheduled under ORS § 293.144 (3) or 293.146 do not equal at least 7-1/2 percent of the amount of General Fund revenues collected during the prior biennium, the transfer to the Oregon Rainy Day Fund shall be made regardless of whether that transfer increases the amount in the Oregon Rainy Day Fund to at least 7-1/2 percent of the amount of General Fund revenues collected during the prior biennium. [2007 c.5 § 6]

See note under 293.144.

[Formerly 291.370; 1967 c.454 § 101; repealed by 1967 c.637 37,38]

[Formerly 291.372; repealed by 1967 c.637 § 37]

[Formerly 291.374; repealed by 1967 c.637 § 37]

(Deficiencies)