OR HB2971

Replaces "stockholders' equity" with "tier 1 capital" as the investment limitation baseline for financial institutions investing in certain government obligations

Removes the 20 percent of stockholders' equity cap on institutional investments in out-of-state municipal bonds rated in the top four grades by recognized rating services

Redefines "net worth" for qualified depositories holding public funds based on institution type: total capital for standard banks, tier 1 capital for community bank leverage ratio framework banks, and total net worth for credit unions

Allows the State Treasurer to adopt substantial equivalents of capital measures in treasurer reports required under ORS 295.061

Amends ORS 295.001 (public funds definitions) and ORS 708A.115 (institutional investment authority)