Oregon agencies would move their money into State Treasury funds

Covered agencies would close accounts outside the State Treasury and transfer their balances to the assigned Treasury funds. This covers the semi-independent agencies listed in ORS 182.454, the Oregon Tourism Commission, the Travel Information Council, and the Film and Video Board. Agencies would also close any accounts established under ORS 182.470 and transfer their balances. Section 48 calls for closures as soon as possible after the act’s effective date, which is not stated. Section 68 makes that requirement apply January 1, 2028.

Covered agencies would deposit money they collect or receive in their assigned funds. The funds cover professional licensing boards, the patient safety and citizen initiative review commissions, and Oregon’s wine, tourism, film, and travel information agencies. Interest would stay in each fund. Agencies could spend fund money for the purposes named in the bill without a separate spending approval each time. Oregon’s payment obligations under the interstate physical therapy licensing agreement would apply only to the extent that money to pay them is deposited in the physical therapy board’s fund. The fund provisions would apply January 1, 2028. Covered agencies could prepare before that date.