ORS 284.367
Oregon Production Investment Fund

source of moneys in fund
uses of moneys

Amended by HB 4153

Effective since March 23, 2022

Relating to the promotion of media industries in Oregon; creating new provisions; amending ORS 284.367; and declaring an emergency.

Text
Annotations

(1)

The Oregon Production Investment Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Oregon Production Investment Fund shall be credited to the fund.

(2)

Moneys in the Oregon Production Investment Fund shall consist of:

(a)

Amounts donated to the fund;

(b)

Amounts appropriated or otherwise transferred to the fund by the Legislative Assembly;

(c)

Other amounts deposited in the fund from any source; and

(d)

Interest earned by the fund.

(3)

Eighty-nine and one-half percent of moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purposes of making:

(a)

Reimbursements to filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund);

(b)

Payments to a tax credit marketer for marketing services provided by the marketer as described in ORS 284.369 (Marketing); and

(c)

Refunds described in ORS 315.514 (Film production development contributions) (5).

(4)

Seven and one-half percent of moneys in the fund are continuously appropriated to the department for the purpose of making reimbursements to local filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund) (3). Total annual reimbursements to local media production services companies under this subsection may not exceed seven and one-half percent of the moneys deposited annually in the fund. On July 1 of each fiscal year, any moneys that remain unexpended or unallocated from the previous fiscal year may be used by the department for the purpose of making reimbursements to filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund) (2).

(5)

Three percent of moneys in the fund are continuously appropriated to the department for the purpose of making payments to filmmakers under ORS 284.368 (Reimbursement from fund) (4). Total annual payments to filmmakers under this subsection may not exceed five percent of the moneys deposited annually in the fund. On July 1 of each fiscal year, any moneys that remain unexpended or unallocated from the previous fiscal year may be used by the department for the purpose of making payments to filmmakers under this section. Any excess over five percent that remains unexpended or unallocated shall be used by the department for the purpose of making reimbursements to filmmakers or local media production services companies under ORS 284.368 (Reimbursement from fund) (2).

(6)

Expenditures from the fund are not subject to ORS 291.232 (Declaration of policy) to 291.260 (Approving, modifying or disapproving requests and budgets to be submitted to the federal government). [2003 c.736 §79; 2009 c.471 §2; 2011 c.730 §§14,15; 2013 c.750 §48; 2016 c.29 §6]

Source: Section 284.367 — Oregon Production Investment Fund; source of moneys in fund; uses of moneys, https://www.oregonlegislature.gov/bills_laws/ors/ors284.html.

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

ORS 284.367 Oregon Production Investment Fund

Amended by HB 4153

(1)

(2)

(a)

(b)

(c)

(d)

(3)

(a)

(b)

(c)

(4)

(5)

(6)

ORS 284.367
Oregon Production Investment Fund