OR SB394

Redirects Oregon corporate activity tax (CAT) revenues from the Fund for Student Success to the Public Employees Retirement Fund for 10 years, from January 1, 2026 through January 1, 2036

Requires CAT revenues transferred to PERS be applied specifically against the unfunded actuarial liability (UAL) of the Public Employees Retirement System

Removes CAT revenue as a funding source for the Fund for Student Success during the 10-year redirection period, leaving the fund to rely on legislative appropriations and gifts/grants/donations

Restores CAT revenue transfers to the Fund for Student Success beginning January 1, 2036, returning to the original funding structure

Maintains the Department of Revenue's authority to retain up to $500,000 as a working balance for refund payments regardless of which fund receives the revenue