Bill Text: OR SB16 | 2013 | Regular Session | Enrolled

Oregon Senate Bill 16 (Prior Session Legislation)

Bill Title: Relating to terms of members of the Oregon Investment Council; and declaring an emergency.

Spectrum: Unknown

Status: (Passed) 2013-07-02 - Effective date, June 24, 2013. [SB16 Detail]

Download: Oregon-2013-SB16-Enrolled.html



     77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session

                            Enrolled

                         Senate Bill 16

Printed pursuant to Senate Interim Rule 213.28 by order of the
  President of the Senate in conformance with presession filing
  rules, indicating neither advocacy nor opposition on the part
  of the President (at the request of State Treasurer Ted
  Wheeler)

                     CHAPTER ................

                             AN ACT

Relating to terms of members of the Oregon Investment Council;
  creating new provisions; amending ORS 293.706; and declaring an
  emergency.

Be It Enacted by the People of the State of Oregon:

  SECTION 1. ORS 293.706 is amended to read:
  293.706. (1) There is created the Oregon Investment Council,
consisting of five voting members and one nonvoting member.
  (2) The Governor shall appoint four voting members, subject to
Senate confirmation in the manner provided in ORS 171.562 and
171.565. The members appointed by the Governor must be qualified
by training and experience in the field of investment or finance.
  (3) The Governor may appoint a member of the council under
subsection (2) of this section who is also a member of the Public
Employees Retirement Board appointed under ORS 238.640 (4).
Except as provided in this subsection, members appointed by the
Governor may not hold any other public office or public
employment.
  (4) The State Treasurer shall be a voting member.
  (5) The Director of the Public Employees Retirement System
shall be an ex officio member of the council with no voting
power.
  (6) The term of office of each appointed member of the council
is four years, but each appointed member serves at the pleasure
of the Governor. A vacancy in the appointed membership occurring
other than by expiration of term shall be filled in the same
manner as the original appointment, but for the unexpired term
only.
    { - (7) An appointed member may not be appointed to more than
two full terms in any 12-year period. - }
  SECTION 2.  { + The amendments to ORS 293.706 by section 1 of
this 2013 Act apply to appointments made to the Oregon Investment
Council on or after the effective date of this 2013 Act. + }
  SECTION 3.  { + This 2013 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2013 Act takes effect on its
passage. + }
                         ----------

Enrolled Senate Bill 16 (SB 16-INTRO)                      Page 1

Passed by Senate April 30, 2013

    .............................................................
                               Robert Taylor, Secretary of Senate

    .............................................................
                              Peter Courtney, President of Senate

Passed by House June 12, 2013

    .............................................................
                                     Tina Kotek, Speaker of House

Enrolled Senate Bill 16 (SB 16-INTRO)                      Page 2

Received by Governor:

......M.,............., 2013

Approved:

......M.,............., 2013

    .............................................................
                                         John Kitzhaber, Governor

Filed in Office of Secretary of State:

......M.,............., 2013

    .............................................................
                                   Kate Brown, Secretary of State

Enrolled Senate Bill 16 (SB 16-INTRO)                      Page 3