HB 4125 – The Act adds detail for methods of making estimates of how much tax money comes into the General Fund.
SUBMIT TESTIONEY HERE! Before Feb. 4 at 3pm
Prescribes methodology for the preparation of revenue estimates used in the budgeting process and as applicable to the surplus revenue refund process. Applies to estimates prepared on or after January 1, 2027. Requires the Department of Revenue to estimate the difference in surplus revenue calculations using stated methodologies, and transfer an amount equal to the difference for use for various purposes. Establishes the One-Time Emergencies and Finance Fund. Takes effect on the 91st day following adjournment sine die.
The One-Time Emergencies and Finance Fund can be used for four specific purposes:
- Reduction of the unfunded actuarial liability of the Public Employees Retirement System (PERS)
- Capital projects costs for which the state would otherwise have to issue revenue bonds
- Payment of debt service
- Expenses related to emergencies
The bill changes the methodology to more conservative, and steals the funds for another “rainy day fund” that isn’t identified, except for permeators. This bill leaves a lot of open ends that the public or representatives will have no say.
Claims that Oregon cannot afford the kicker is a lie. Audit reports consistently document waste, mismanagement, and failures approaching a billion dollars across state agencies. The core issue is not insufficient revenue, but rather a lack of spending discipline and accountability.