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OR HB3302
Bill
Status
Failed
6/27/2025
Primary Sponsor
Paul Evans
Click for details
AI Summary
- Establishes the Oregon Cash Depository Corporation as an independent public corporation to provide secure cash storage, handling, and management services for businesses and individuals that operate primarily in cash
- Governor appoints a 5-member board of directors (subject to Senate confirmation) with expertise in secure facilities, cash businesses, cash management, tax accounting, and logistics, serving 4-year terms
- Creates the Oregon Cash Depository Corporation Fund in the State Treasury for all corporation revenues, with authority to invest up to 40% of deposits while maintaining at least 60% as reserve for depositor liquidity
- Requires annual audits by the Secretary of State, comprehensive independent studies every 4 years, and annual reports to the Governor and Legislative Assembly by April 15
- Becomes operative January 1, 2026, with emergency clause for immediate effect to allow preparatory actions including interim board appointments and rule adoption
Legislative Description
Relating to a public corporation for establishing secure cash storage facilities in this state; declaring an emergency.
Last Action
In committee upon adjournment.
6/27/2025
Committee Referrals
Rules1/24/2025
Full Bill Text
No bill text available