Oregon Revised Statutes Chapter 657 § 657.783 — Supplemental Employment Department Administration Fund; biennial transfer of

Supplemental Employment Department Administration Fund; biennial transfer of excess budgeted moneys to Unemployment Compensation Trust Fund. (1) There is established in the State Treasury, separate and distinct from the General Fund, the Supplemental Employment Department Administration Fund. The Supplemental Employment Department Administration Fund shall consist of moneys collected or received by the Employment Department pursuant to ORS 657.462. (2) Except as provided in subsection (3) of this section, all income earned on moneys in the Supplemental Employment Department Administration Fund invested by the State Treasurer shall accrue to the fund. Any balance in the fund shall not lapse at any time. All moneys in the fund are continuously appropriated to the department for the payment of expenses of administration of this chapter for which federal funding has been reduced, eliminated or otherwise is not available, and which has been authorized in the legislatively approved budget of the department. (3)(a) As used in this subsection, “budgeted moneys” means the total amount of limited funds authorized for expenditure by the Employment Department under the legislatively approved budget, as defined in ORS 291.002, for a biennium ending on June 30 of an odd-numbered year, excluding any amounts budgeted for the Office of Administrative Hearings and the family and medical leave insurance program. (b) As determined on June 30 of each odd-numbered year, moneys in the Supplemental Employment Department Administration Fund that are in excess of one-eighth of the budgeted moneys shall be transferred to the Unemployment Compensation Trust Fund. (c) The transfer required by this subsection shall be made by December 31 of the odd-numbered year. [1987 c.449 §2; 1995 c.37 §2; 2005 c.183 §§3,18; 2024 c.76 §3; 2025 c.462 §2]