ECONOMIC DEVELOPMENT FUND PROCESS
Process for Allocating Available Moneys in the Administrative Services Economic Development Fund
(1) The Department of Administrative Services will distribute lottery proceeds to recipients on a quarterly basis. This allocation will be based on a plan approved by the Chief Financial Office.
(2) If, in any quarter, the moneys transferred from the State Lottery Fund to the Administrative Services Economic Development Fund are insufficient to pay for the quarterly allocations, the Department of Administrative Services shall allocate funds in the following priority order:
(a) Satisfy current debt service obligations for the Westside Light Rail (allocated in the first and fifth quarters);
(b) Satisfy all other current debt service obligations (allocated in the first and fifth quarters);
(c) Satisfy all Constitutionally mandated allocations.
(d) Satisfy all statutorily mandated allocations.
(e) Satisfy all other allocations on a proportional basis. Allocations in a particular quarter may be based on the cash flow needs of the recipients. This may require deferring allocations to a recipient in one quarter with the objective of funding the full allocation during the balance of the biennium.
Stat. Auth.: OR
Const. Art. XV, Sec. 4(4)(d) & ORS 461.500 - 461.555
Stat. Implemented: 2003 HB 5076
Hist.: BAD 1-2001, f. & cert. ef. 10-1-01; BAD 4-2003, f. 12-23-03, cert. ef. 12-24-03; Renumbered from 121-040-0010 by DAS 2-2012, f. 11-20-12, cert. ef. 12-1-12
Oregon Secretary of State • 136 State Capitol • Salem, OR 97310-0722
Phone: (503) 986-1523 • Fax: (503) 986-1616 • firstname.lastname@example.org
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