(1) If the State Treasurer or Director of the Oregon Department of Administrative Services determines that the treasurer or director will cancel or postpone an issuance of general obligation bonds or lottery bonds that was authorized by law and previously scheduled, the treasurer or director shall provide written notice to the President of the Senate, the Speaker of the House of Representatives and the Legislative Fiscal Officer.

(2) The treasurer or director shall provide the notice not later than 30 days after the date the issuance of the bonds was scheduled. [2012 c.107 § 3]