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PUBLIC HEARING AND WORK SESSION: HB 2133, HB 2134, HB
2136 |
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PUBLIC HEARING: HB 2135 |
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TAPES 44-45,
A-B |
FEBRUARY 26,
2003 1:00 PM STATE CAPITOL BUILDING
Members Present: Senator Ryan Deckert, Chair
Senator Ted
Ferrioli, Vice Chair
Senator
Tony Corcoran
Senator
Charlie Ringo
Senator
Bruce Starr
Members Excused: Senator Lenn Hannon
Witnesses Present: Edie Kessel, Oregon State Treasury
Darren
Bond, Oregon State Treasury
Kate
Richardson, Oregon State Treasury
Staff Present: Richard
Yates, Legislative Revenue Office
Tara
Lantz, Committee Assistant
TAPE
44, SIDE A
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003 |
Chair Deckert |
Calls meeting to order at 1:05pm. |
OPENS PUBLIC HEARING ON HB
2133
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010 |
Richard Yates |
Explains HB 2133 which requires the
Department of Transportation, rather than the Treasury to transfer funds
relating to certain fuel tax refunds to the Department’s Operating Fund,
clarifies time period for appointment of a bank or trust company for payment
of debt services, and requires Treasurer and state agencies to agree on
interest rate. Exhibit 1. |
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022 |
Edie Kessel |
Testifies in support of HB 2133
because it clarifies the existing statute and results in more cost effective
management of fiscal agent contracts. Discusses each section in detail. Exhibit
2. |
CLOSES PUBLIC HEARING ON HB
2133
OPENS WORK SESSION ON HB
2133
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064 |
Sen. Starr |
MOTION: MOVES HB 2133 TO THE SENATE
FLOOR WITH A DO PASS RECOMMENDATION. |
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071 |
Sen. Deckert |
ORDER: HEARING NO OBJECTION, MOTION
PASSES: 4-0-2. SENATORS ANSWERING AYE: CORCORAN, FERRIOLI, DECKERT, STARR.
SENATORS EXCUSED: HANNON, RINGO. Sen. Starr will carry the bill on
the Senate Floor. |
CLOSES WORK SESSION ON HB
2133
OPENS PUBLIC HEARING ON HB
2134
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078 |
Yates |
Explains HB 2134 which deletes
wording that could be confused and requires the Department of Administrative
Services to determine the appropriate method of payment or transfer. Exhibit
3. |
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089 |
Darren Bond |
Testifies in support of HB 2134 because
it clarifies existing language in ORS 291.001. Exhibit 4. |
CLOSES PUBLIC HEARING ON HB
2134
OPENS WORK SESSION ON HB
2134
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109 |
Sen. Corcoran |
MOTION: MOVES HB 2134 TO THE SENATE
FLOOR WITH A DO PASS RECOMMENDATION. |
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113 |
Sen. Deckert |
ORDER: HEARING NO OBJECTION, MOTION
PASSES: 5-0-1. SENATORS ANSWERING AYE: CORCORAN, FERRIOLI, DECKERT, STARR,
RINGO. SENATOR EXCUSED: HANNON. Sen. Ringo will carry the bill on
the Senate Floor. |
CLOSES WORK SESSION ON HB
2134
OPENS PUBLIC HEARING ON 2135
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120 |
Yates |
Explains HB 2135 which defines the General
Funds to include payments into those funds or accounts specifically
established in law as funds or accounts in the General Fund, makes payments
into all other funds or accounts separate and distinct, continuously
appropriates moneys in trust funds to the agency administering the trust,
revises procedures for registering warrants if General Fund is exhausted,
clarifies authority of Treasurer to pay moneys out of State Treasury, and
specifies circumstances under which Treasurer may require agency to stop
issuing payment obligations. Exhibit 5. |
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140 |
Bond |
Gives background of HB 2135.
Discusses each section in detail and testifies in support of HB 2135 because
it fixes inconsistencies in the statutes dealing with the definition of the
General Fund, clarifies and modernizes the language dealing with the process
put in place should the State run out of money and be unable to pay General
Fund warrants, clarifies the language dealing with the Treasurer’s
authorization, provides the Treasurer authority to revoke an agency’s ability
to issue payment items, and gives the Treasurer the authority to deal with
agencies overdraft accounts. Exhibit 6. Clarifying questions and answers
interspersed. |
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320 |
Sen. Deckert |
Asks if the Treasury currently
follows the procedures in section 10. |
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330 |
Bond |
Responds affirmatively. |
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336 |
Sen. Ferrioli |
Asks about the purpose of overdraft
charges. |
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348 |
Bond |
Responds that an overdraft is an
unauthorized interfund borrowing and that they have to issue an interest
charge to compensate the agencies borrowed from. Discussion follows. |
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380 |
Sen. Ferrioli |
Asks if this bill gives the State
Treasury the authority to transfer money from dedicated funds. |
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406 |
Bond |
Responds that this wouldn’t give the
Treasury the authority to go into the General Fund or funds that have legal
restrictions. Discussion follows. |
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421 |
Sen. Ferrioli |
Asks where the Treasury goes if
there is no money in the General Fund. |
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429 |
Bond |
Responds that the Treasury would
then go to the Legislature. Discussion follows. |
TAPE 45, SIDE A
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003 |
Sen. Ferrioli |
Asks if the bill gives the Treasury
the authority to borrow from other agencies funds to cover overdraft charges. |
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006 |
Bond |
Responds that this bill doesn’t do
that, but that they already have the authority to. |
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028 |
Sen. Ringo |
Asks if there are some circumstances
for revoking a check that aren’t addressed in the bill and if the Treasury
should be given broader authority. |
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039 |
Bond |
Responds that they tried not to make
it so broad that agencies would be scared to write checks and testify against
the bill. Questions and answers interspersed. |
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068 |
Sen. Deckert |
Asks if any agencies expressed
opposition. |
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070 |
Bond |
Responds that there were a few
questions, but they were all answered. |
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075 |
Sen. Starr |
Asks if there is a rationale that
led to the statute requiring three constitutional officers and why it is
being changed to two. |
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085 |
Bond |
Responds that he doesn’t know why it
was that way, but that their rational is they don’t want to have an outlier
hold back the process because they don’t understand the implications. |
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103 |
Sen. Deckert |
Asks if there has been any situation
where agencies couldn’t pay their bills. |
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105 |
Bond |
Responds that Oregon has not had to
issue warrants before and that the only case he is aware of was in California
10 years ago. States that Oregon is as close as it has ever been to being in
this situation. Discussion follows. |
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127 |
Sen. Ringo |
Suggests that it isn’t a good idea
to eliminate one constitutional officer because during such difficult times
all of the top officers of the State should be on board. |
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136 |
Bond |
Responds that the worst thing that
could happen was if one of the officers didn’t agree because the warrants
would still be returned, just not as orderly and without interest. Discussion follows. |
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192 |
Kate Richardson |
Responds that it is a protection for
the people because it allows it to be handled in an orderly manner and is
interest bearing. States that it would make a bad situation much worse if one
person held out for whatever reason. |
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231 |
Sen. Ferrioli |
Asks it the Treasury looked at the
history of the statute that says the three need to be unanimous. |
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235 |
Bond |
Responds negatively. Discussion follows. |
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254 |
Sen. Ferrioli |
Argues that in a doomsday scenario,
although the issuing of warrants is necessary and should be automatic, the
three top officers of the state should be in agreement. |
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310 |
Sen. Starr |
Agrees with Sen. Ferrioli. |
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313 |
Sen. Deckert |
Asks about the circumstances of the California
situation in regards to the constitutional officers. |
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314 |
Bond |
Responds that he doesn’t know. |
CLOSES PUBLIC HEARING ON HB
2135
OPENS PUBLIC HEARING ON HB
2136
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329 |
Yates |
Explains HB 2136 which clarifies
maturity date restrictions relating to certain investments by local
governments. Exhibit 7. |
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337 |
Bond |
Testifies in support of HB 2136
because it clarifies conflicting language. Exhibit 8. |
CLOSES PUBLIC HEARING ON HB
2136
OPENS WORK SESSION ON HB
2136
|
366 |
Sen. Ringo |
MOTION: MOVES HB 2136 TO THE SENATE
FLOOR WITH A DO PASS RECOMMENDATION. |
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373 |
Sen. Deckert |
ORDER: HEARING NO OBJECTION, MOTION
PASSES: 5-0-1. SENATORS ANSWERING AYE: CORCORAN, FERRIOLI, DECKERT, STARR,
RINGO. SENATOR EXCUSED: HANNON. Sen. Ferrioli will carry the bill on
the Senate Floor. Placed on the consent agenda. |
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382 |
Sen. Deckert |
States that Sen. Starr will take the
lead on fixing HB 2135. |
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385 |
Sen. Deckert |
Adjourns meeting at 1:58pm. |
Tape Log Submitted by,
Tara Lantz, Committee Assistant Reviewed
by Kim Taylor James
Exhibit Summary:
1.
HB 2133, Richard Yates, Staff Measure Summary, 1p.
2.
HB 2133, Edi Kessel, Written Testimony, 3pp.
3.
HB 2134, Richard Yates, Staff Measure Summary, 1p.
4.
HB 2134, Darren Bond, Written Testimony, 1pp.
5.
HB 2135, Richard Yates, Staff Measure Summary, 1p.
6.
HB 2135, Darren Bond, Written Testimony, 2pp.
7.
HB 2136, Richard Yates, Staff Measure Summary, 1p.
8.
HB 2136, Darren Bond, Written Testimony, 8pp.