TrustVoting Atlas

(1) When a state measure involves
expenditure of public moneys by the state, reduction of expenditure of public
moneys by the state, reduction of state revenues or raising of funds by the
state by imposing any tax or incurring any indebtedness, the financial estimate
committee created under this section shall estimate:

(a) The amount of
direct expenditure, direct reduction of expenditure, direct reduction in state
revenues, direct tax revenue or indebtedness and interest that will be required
to meet the provisions of the measure if it is enacted; and

(b) The aggregate
amount of direct expenditure, direct reduction of expenditure, direct reduction
in revenues, direct tax revenue or indebtedness and interest that will be required
by any city, county or district to meet the provisions of the measure if it is
enacted.

(2) For a state
measure for which an estimate is required to be prepared under subsection (1)
of this section, the financial estimate committee may estimate the aggregate
amount of direct expenditure, direct reduction of expenditure, direct reduction
in revenues, direct tax revenue or indebtedness and interest that will be
required by any federally recognized Native American or American Indian tribal
government to meet the provisions of the measure if it is enacted.

(3) If the
Legislative Assembly has enacted a law that will apply only if the measure for
which an estimate is required to be prepared under subsection (1) of this
section is not enacted, the financial estimate committee may also estimate the
amount of direct expenditure, direct reduction of expenditure, direct reduction
in revenues, direct tax revenue or indebtedness and interest that will result
for the state, any city, county or district or any federally recognized Native
American or American Indian tribal government if the measure is not enacted.

(4) For a state
measure for which an estimate is required to be prepared under subsection (1)
of this section, the financial estimate committee shall consult with the
Legislative Revenue Officer to determine if the measure has potentially
significant indirect economic or fiscal effects. If the committee determines
that the indirect economic or fiscal effects of the measure are significant and
can be estimated, the Legislative Revenue Officer shall prepare on behalf of
the committee an impartial estimate of the indirect economic or fiscal effects
of the measure. The Legislative Revenue Officer shall use the best available
economic models and data to produce the estimate. The financial estimate
committee shall incorporate relevant parts of the estimate prepared by the
Legislative Revenue Officer into the estimate prepared by the committee under
subsection (1) of this section.

(5) Except as
provided in subsection (6) of this section, the estimates described in
subsections (1) to (3) of this section shall be printed in the voters’ pamphlet
and on the ballot. The estimates shall be impartial, simple and understandable
and shall include the following information:

(a) A statement
of the amount of financial effect on state, local or tribal government
expenditures, revenues or indebtedness, expressed as a specific amount or as a
range of amounts;

(b) A statement
of any recurring annual amount of financial effect on state, local or tribal
government expenditures, revenues or indebtedness;

(c) A description
of the most likely financial effect or effects of the adoption of the measure;
and

(d) If an
estimate is made under subsection (3) of this section, a description of the
most likely financial effect or effects if the measure is not enacted.

(6) If the
financial estimate committee determines that the measure will have no financial
effect on state, local or tribal government expenditures, revenues or
indebtedness or that the financial effect on state, local or tribal government
expenditures, revenues or indebtedness will not exceed $100,000, the committee
shall prepare and file with the Secretary of State a statement declaring that
the measure will have no financial effect or that the financial effect will not
exceed $100,000. The statement shall be printed in the voters’ pamphlet and on
the ballot.

(7) If the
financial estimate committee determines that the measure will have a financial
effect on state, local or tribal government expenditures in excess of $100,000
and that the measure does not include a dedicated funding source to pay for the
new expenditures required, the committee shall prepare and file with the
Secretary of State the statement “MEASURE SPENDS MONEY WITHOUT IDENTIFYING A
FUNDING SOURCE.” A statement prepared under this subsection shall be printed in
bold in the voters’ pamphlet immediately following the printing of the
estimates described in subsections (1) to (3) of this section.

(8) In addition
to the estimates described in subsections (1) to (3) of this section, if the
financial estimate committee considers it necessary, the committee may prepare
and file with the Secretary of State an impartial, simple and understandable
statement explaining the financial effects of the measure. The statement may
not exceed 500 words. The statement shall be printed in the voters’ pamphlet
with the measure to which it relates.

(9) The
Legislative Policy and Research Committee shall provide any administrative
staff assistance required by the financial estimate committee to facilitate the
work of the financial estimate committee under this section or ORS 250.127.

(10) The
financial estimate committee is created, consisting of the Secretary of State,
the State Treasurer, the Director of the Oregon Department of Administrative
Services, the Director of the Department of Revenue and a representative of a
city, county or district with expertise in local government finance. The
representative of a city, county or district shall be selected by the four
other members of the financial estimate committee and shall serve for a term of
two years that begins on March 1 of the odd-numbered year. [Formerly 254.180;
1987 c.724 §6; 1991 c.971 §1; 1993 c.493 §15; 1999 c.844 §1; 2005 c.633 §1;
2013 c.47 §1; 2016 c.88 §11; 2019 c.603 §1]