Relating to state financial administration; prescribing an effective date.

Directs the Oregon Department of Administrative Services, in coordination with the Legislative Fiscal Officer and the Legislative Revenue Officer, to prepare a biennial budget stress test report that estimates the effects on state finances of negative economic conditions. Declares the policy of the state to use zero-based budgeting in developing biennial budgets. Requires state agencies to include information justifying all proposed expenditures in agency request budgets. Takes effect on the 91st day following adjournment sine die.