(1) Except as otherwise provided by law, all moneys received by the Department of Revenue under ORS § 317A.100 to 317A.158 shall be deposited in the State Treasury and credited to a suspense account established under ORS § 293.445 separate and distinct from the General Fund. The department may pay expenses for the administration, collection and enforcement of the tax imposed under ORS § 317A.100 to 317A.158 out of moneys received from the corporate activity tax imposed under ORS § 317A.116. Refunds, including refunds of erroneous overpayments or refunds of other moneys received in which the department has no legal interest, shall be paid out of the suspense account.

Terms Used In Oregon Statutes 317A.155

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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) After payment of refunds, the net revenue shall be transferred to the Fund for Student Success established under ORS § 327.001. A working balance of unreceipted revenue from the tax imposed under ORS § 317A.100 to 317A.158 may be retained by the department for the payment of refunds, but such working balance may not at the close of any fiscal year exceed the amount of $500,000.

(3) There are continuously appropriated to the department amounts necessary to pay the administrative expenses of the department in administering, collecting and enforcing the corporate activity tax imposed under ORS § 317A.116. [2019 c.122 § 76]

 

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