(1) Public universities listed in ORS § 352.002 shall, by agreement, establish a system of shared administrative services for the:

(a) Maintenance of federal tax benefits relating to state bonds issued for the benefit of each public university prior to April 30, 2015;

(b) Performance of administrative services relating to the following employee benefits:

(A) Group insurance or deferred compensation plans authorized by ORS § 352.237;

(B) The Public Employees Retirement System or another plan authorized under ORS Chapter 238 or 238A;

(C) The Optional Retirement Plan authorized by ORS § 243.815; and

(D) A public university tax-deferred investment plan that obtains the advantages of 26 U.S.C. § 403(b) and is authorized by ORS § 243.820; and

(c) Collective bargaining with any statewide bargaining unit that includes employees of two or more public universities listed in ORS § 352.002.

(2)(a) A public university listed in ORS § 352.002 may opt out of the shared administrative service listed in subsection (1)(a) of this section only if the Oregon Department of Administrative Services has adopted rules under ORS § 286A.863 relating to standards, terms and conditions for maintaining federal tax benefits that apply to public universities listed in ORS § 352.002 that opt out of shared administrative services described in subsection (1)(a) of this section.

(b) Prior to July 1, 2019, a public university listed in ORS § 352.002 must provide the same scope and overall value of each employee benefit listed in subsection (1)(b) of this section as is required by the statutes referenced in subsection (1)(b) of this section.

(3)(a) Two or more public universities listed in ORS § 352.002 may participate in shared services not described in subsection (1) of this section, including but not limited to shared services involving legal services and information technology.

(b) If a public university listed in ORS § 352.002, or a community college, negotiates a contract with one or more third party financial firms, as defined in ORS § 348.015, to provide disbursement and management services of financial aid funds, or management of financial accounts, to enrolled students, the public university or community college shall undertake reasonable efforts to establish collaboration agreements with other public universities or community colleges to negotiate the services.

(4) As used in this section, ‘federal tax benefits’ has the meaning given that term in ORS § 286A.830. [2013 c.768 § 14a; 2015 c.469 § 1; 2015 c.633 § 3; 2015 c.767 § 150; 2015 c.828 § 22; 2017 c.440 § 13]

[Repealed by 1987 c.246 § 8]