OR HB3344

Cemetery authorities may elect to use either the net income distribution method or the total return distribution method to fund endowment care, with written notice to the trustee required at least 30 days before the calendar year begins

Total return percentage is capped at 4% of the average fair market value of endowment care fund assets, calculated using the last three business years

Cemetery authorities must notify the Department of Consumer and Business Services by November 1 of the prior year and provide a written investment policy, amended trust agreement, and distribution policy

Department of Consumer and Business Services may take corrective measures if the fund's average fair market value declines by 10% or more, falls below 80% of its original value plus deposits, or if financial deficiencies are identified

Amends ORS 97.825, 97.830, and 97.835 to incorporate total return distribution as an alternative to net income distribution for cemetery endowment care funds