SB 5542
Limits biennial expenditures for certain purposes from fees, moneys or other revenues, including Miscellaneous Receipts but excluding lottery funds and federal funds, collected or received by the State Treasurer.
Jurisdiction
Oregon
Session
2025 Regular Session
At the request of
(at the request of Oregon Department of Administrative Services)
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Sign in to take actionPublic sentiment
Support
100%
Oppose
0%
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill sets maximum spending limits for the State Treasurer’s office using fees, miscellaneous receipts, and other revenues, excluding lottery funds and federal money. Specifically, it establishes caps for administrative services, trust property services, investment services, public savings services, and financial services. The bill also clarifies that certain trust property audit fees and investment expenses are not subject to these spending limits. An emergency declaration allows the bill to take effect immediately.
Key provisions
- Establishes maximum spending limits for the State Treasurer’s office.
- Limits spending on administrative services to $47,007,639 for the biennium.
- Limits spending on trust property services to $13,101,542 for the biennium.
- Limits spending on investment services to $62,200,924 for the biennium.
- Limits spending on public savings services to $12,504,619 for the biennium.
- Limits spending on state and local government financial services to $22,984,622 for the biennium.
- Exempts certain trust property audit fees and investment expenses from spending limits.
Who is affected
- State Treasurer’s Office
- State Agencies receiving funds from fees and revenues
- Taxpayers (indirectly through state spending)
Notable changes
- Defines specific spending limits for various categories of the State Treasurer’s office.
- Creates an exception for certain trust property audit fees and investment expenses.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Oregon Department of Administrative Services
Arguments in favor
Reasons to support this legislation.
Supporters of SB 5542 emphasize the need to ensure secure and dignified retirement for public servants, citing the Oregon Department of Treasury's expertise in this area. They highlight the importance of providing adequate funding to support these efforts, as recommended by the Governor's Recommended Budget (GRB) and additional funding requests. Advocates argue that this legislation is crucial for maintaining the well-being and financial security of public servants, who have dedicated their lives to serving the state and its citizens. By supporting SB 5542, proponents aim to demonstrate a commitment to honoring the sacrifices and service of these individuals.
Source: Testimony Summaries
Arguments opposed
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