Or. Admin. Code § 629-165-0210

Current through Register Vol. 63, No. 11, November 1, 2024

Section 629-165-0210 - Transfer of Funds from State Treasurer

(1) Pursuant to ORS 477.760(2), the committee is authorized to request a transfer of funds from the State Treasurer to the OFLPF at any time and in any amount that does not cause the fund to exceed the reserve base specified in ORS 477.760(1).

(2) To minimize the effect of repayment of transfers on the landowner community, it is the committee's intent that the amount of transfer requested should be limited to an amount by which known and anticipated claims will exceed the sum of the cash balance in the fund and the anticipated revenues for the remainder of the fiscal year.

(3) If the monies in the OFLPF are inadequate to ensure repayment of the transfer and the interest thereon, the State Forester must increase the assessments, surcharge and harvest tax in equal proportions for the ensuing fiscal and calendar years, respectively, adequate to make repayment of the transfer:

(a) The increase in assessments in the next fiscal year will apply to:

(A) The surcharge on improved lots referred to in ORS 477.277;

(B) The OFLPF portion of the minimum assessment referred to in ORS 477.295; and

(C) The acreage assessments referred to in ORS 477.880.

(b) The increase in taxes in the next calendar year will apply to the forest products harvest tax referred to in ORS 321.015(2).

(4) Negotiations for and approval of any transfer should be completed as soon as practicable after February 16 of any year that a transfer is necessary, to allow the State Forester sufficient time to meet the requirements of ORS 477.760, requiring increases to assessment, surcharge and harvest tax rates for the ensuing fiscal and calendar years, respectively.

Or. Admin. Code § 629-165-0210

DOF 3-2013, f. 12-9-13, cert. ef. 1-1-14

Stat. Auth.: ORS 321, 477 & 477.770

Stats. Implemented: ORS 183.335, 183.341, 477.440 - 477.460 & 477.750 - 477.775