SB 1566 — Relating to employer contributions to the Public Employees Retirement System; and prescribing an effective date.
Last action — Effective date, June 2, 2018.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 22, 2018. Enacted.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Enacted
Current position in the legislative process.
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Cleared a recorded vote
Passed 4 recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
Summary
Establishes Employer Incentive Fund. Appropriates moneys in fund to Public Employees Retirement Board for purpose of matching portions of certain lump sum payments of employer contributions to Public Employees Retirement System. Allows participating public employer that makes <b>certain</b> lump sum payment of employer contributions to system in amount equal to or greater than $10 million to choose amortization period for use of lump sum payment to offset employer contributions otherwise owed. <i>Directs transfer of certain proceeds from debt collection, capital gains tax, estate tax, marijuana tax, wine, cider and malt beverage privilege tax and lawsuit settlements to Public Employees Retirement Fund to be credited to side account for school districts.</i>] <i>Directs transfer of certain proceeds from lottery revenues to Public Employees Retirement Fund to be credited to side accounts for school districts, community colleges and public universities.</i>] <i>Provides that Department of State Lands shall transfer from Common School Fund Account all or part of interest earned from certain unclaimed property to Public Employees Retirement Fund to be credited to side account for school districts.</i>] <b>Establishes School Districts Unfunded Liability Fund. Appropriates moneys in fund to Public Employees Retirement Board for purpose of establishing and funding pooled account to be applied against liabilities of participating public employers that are school districts. Directs transfer of certain proceeds from debt collection, capital gains tax and estate tax and all or part of interest from certain unclaimed property to fund. Directs Public Employees Retirement Board to establish Unfunded Actuarial Liability Resolution Program to assist participating public employers in developing plans to improve funded status and manage employer contribution rate changes. Requires board to report to Joint Committee on Ways and Means during each regular session on status of funds and program.</b> Directs State Treasurer to study feasibility and prudence of borrowing moneys in Oregon Short Term Fund to be redeployed into investments. Directs State Treasurer to report to Legislative Assembly on results of study no later than September 30, 2019. <b>Directs Department of Revenue to distribute estimated amount of increased corporate tax revenue attributable to treatment of post-1986 deferred foreign income to Employer Incentive Fund and to School Districts Unfunded Liability Fund on or before July 1, 2021.</b> Provides for direct review by Supreme Court. Takes effect on 91st day following adjournment sine die.
Bill Text
We don't have the full text on file for this bill yet.
Read SB 1566 on the official Oregon source →Action History
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Effective date, June 2, 2018.
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Chapter 105, 2018 Laws.
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Governor signed.
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Speaker signed.
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President signed.
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Rules suspended. Third reading. Carried by Holvey. Passed.
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Rules suspended. Second reading.
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Recommendation: Do pass.
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Referred to Ways and Means.
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First reading. Referred to Speaker's desk.
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Rules suspended. Third reading. Carried by Taylor. Passed.
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Second reading.
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Recommendation: Do pass with amendments to the A-Eng. bill. (Printed B-Eng.)
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Work Session held.
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Work Session held.
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Returned to Full Committee.
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Assigned to Subcommittee On Capital Construction.
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Referred to Ways and Means by prior reference.
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Recommendation: Do pass with amendments and be referred to Ways and Means by prior reference. (Printed A-Eng.)
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Possible Work Session cancelled.
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Work Session held.
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Public Hearing held.
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Public Hearing held.
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Referred to Workforce, then Ways and Means.
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Introduction and first reading. Referred to President's desk.
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Presession Released to the Public.
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 0 co-sponsors · 90 not signed on · 19 voted No
Sponsors (0)
None.
Co-sponsors (0)
None.
Not signed on (90)
90 members have not signed on to this bill.
Show all 90 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 24 | 14 | 0 | 1 |
| Republican | 2 | 4 | 0 | 1 |
| Democrat | 14 | 0 | 0 | 0 |
| Total | 40 | 18 | 0 | 2 |
| % of votes cast | 67% | 30% | 0% | 3% |
How each member voted (60)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 22 | 0 | 0 | 1 |
| Democrat | 5 | 0 | 0 | 0 |
| Republican | 2 | 0 | 0 | 0 |
| Total | 29 | 0 | 0 | 1 |
| % of votes cast | 97% | 0% | 0% | 3% |
How each member voted (30)
| Member | Party | Vote |
|---|---|---|
| Alan DeBoer | — | Yea |
| Alan Olsen | — | Yea |
| Arnie Roblan | — | Yea |
| Betsy Johnson | — | Yea |
| Bill Hansell | — | Yea |
| Brian Boquist | — | Yea |
| Chuck Riley | — | Yea |
| Chuck Thomsen | — | Yea |
| Cliff Bentz | — | Yea |
| Dennis Linthicum | — | Yea |
| Elizabeth Steiner Hayward | — | Yea |
| Ginny Burdick | — | Yea |
| Herman Baertschiger Jr. | — | Yea |
| Jackie Winters | — | Yea |
| Jeff Kruse | — | Not Voting |
| Laurie Monnes Anderson | — | Yea |
| Lee Beyer | — | Yea |
| Mark Hass | — | Yea |
| Michael Dembrow | — | Yea |
| Peter Courtney | — | Yea |
| Rod Monroe | — | Yea |
| Sara Gelser | — | Yea |
| Tim Knopp | — | Yea |
| Floyd Prozanski | Democrat | Yea |
| James Manning Jr. | Democrat | Yea |
| Kathleen Taylor | Democrat | Yea |
| Lew Frederick | Democrat | Yea |
| Rob Wagner | Democrat | Yea |
| Fred Girod | Republican | Yea |
| Kim Thatcher | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 28 | 2 | 0 | 2 |
| Democrat | 10 | 0 | 0 | 0 |
| Republican | 4 | 0 | 0 | 0 |
| Total | 42 | 2 | 0 | 2 |
| % of votes cast | 91% | 4% | 0% | 4% |
How each member voted (46)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 4 | 0 | 0 | 0 |
| Democrat | 1 | 0 | 0 | 0 |
| Total | 5 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (5)
| Member | Party | Vote |
|---|---|---|
| Bill Hansell | — | Yea |
| Laurie Monnes Anderson | — | Yea |
| Sara Gelser | — | Yea |
| Tim Knopp | — | Yea |
| Kathleen Taylor | Democrat | Yea |
Subjects
Frequently asked questions
- What does SB 1566 do?
- Establishes Employer Incentive Fund. Appropriates moneys in fund to Public Employees Retirement Board for purpose of matching portions of certain lump sum payments of employer contributions to Public Employees Retirement System. Allows participating public employer that makes <b>certain</b> lump sum payment of employer contributions to system in amount equal to or greater than $10 million to choose amortization period for use of lump sum payment to offset employer contributions otherwise owed. <i>Directs transfer of certain proceeds from debt collection, capital gains tax, estate tax, marijuana tax, wine, cider and malt beverage privilege tax and lawsuit settlements to Public Employees Retirement Fund to be credited to side account for school districts.</i>] <i>Directs transfer of certain proceeds from lottery revenues to Public Employees Retirement Fund to be credited to side accounts for school districts, community colleges and public universities.</i>] <i>Provides that Department of State Lands shall transfer from Common School Fund Account all or part of interest earned from certain unclaimed property to Public Employees Retirement Fund to be credited to side account for school districts.</i>] <b>Establishes School Districts Unfunded Liability Fund. Appropriates moneys in fund to Public Employees Retirement Board for purpose of establishing and funding pooled account to be applied against liabilities of participating public employers that are school districts. Directs transfer of certain proceeds from debt collection, capital gains tax and estate tax and all or part of interest from certain unclaimed property to fund. Directs Public Employees Retirement Board to establish Unfunded Actuarial Liability Resolution Program to assist participating public employers in developing plans to improve funded status and manage employer contribution rate changes. Requires board to report to Joint Committee on Ways and Means during each regular session on status of funds and program.</b> Directs State Treasurer to study feasibility and prudence of borrowing moneys in Oregon Short Term Fund to be redeployed into investments. Directs State Treasurer to report to Legislative Assembly on results of study no later than September 30, 2019. <b>Directs Department of Revenue to distribute estimated amount of increased corporate tax revenue attributable to treatment of post-1986 deferred foreign income to Employer Incentive Fund and to School Districts Unfunded Liability Fund on or before July 1, 2021.</b> Provides for direct review by Supreme Court. Takes effect on 91st day following adjournment sine die.
- What is the current status of SB 1566?
- This bill has been enacted into law. Introduced January 22, 2018. Enacted.
- Where can I track SB 1566?
- Track SB 1566 free on One Click Politics — get push/email alerts when it moves.
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