OR HB3331

Redirects 10 percent of dividends declared by the State Accident Insurance Fund Corporation (SAIF) to the newly created Oregon Catastrophic Responders Fund for disaster preparedness

Establishes the Oregon Catastrophic Responders Fund in the State Treasury, continuously appropriated to the Oregon Department of Emergency Management to increase readiness for catastrophic disasters under Article X-A of the Oregon Constitution

Creates a 15-member Catastrophic Disaster Advisory Board appointed by the Governor to advise on fund expenditures and recommend sustainability and emergency management policy improvements to the Legislature

Board members serve as unpaid volunteers with staff support provided by the Governor's office, and all state agencies must assist the board in performing its duties

Advisory board must submit its first recommendations to the Legislative Assembly on or before February 1, 2027