2021 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 285B - Economic Development II
Section 285B.676 - Oregon Rural Capacity Fund.
(1) The Oregon Rural Capacity Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Oregon Rural Capacity Fund shall be credited to the fund.
(2) Moneys in the fund consist of:
(a) Amounts appropriated or otherwise transferred or credited to the fund by the Legislative Assembly;
(b) Moneys from the federal government, state agencies or local governments transferred or otherwise credited to the fund;
(c) Amounts donated or otherwise given to the fund;
(d) Earnings received on moneys in the fund; and
(e) Other amounts from any source transferred or otherwise credited to the fund.
(3)(a) Moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purpose of making the expenditures set forth in this subsection.
(b) The department may retain an amount equal to five percent of moneys appropriated or otherwise transferred or credited to the fund to pay the for the administrative and operational expenses of department under ORS 285B.651 to 285B.676.
(c) The department shall distribute the balance of the moneys in accordance with ORS 285B.655. [2021 c.614 §6]
Note: See note under 285B.651.
