OR SB1543

Oregon Transportation Commission expanded from five to seven members: five voting members appointed by the Governor (one from each of the state's five transportation regions), plus one nonvoting state Senator and one nonvoting state Representative appointed by legislative leaders; at least one voting member must primarily travel by means other than a motor vehicle.

Commission required to develop a debt financing management policy for all highway project debt, including bonds and federal advanced construction funds, with annual debt service capped at 20% of annual state transportation resources to the State Highway Fund.

Department of Transportation must submit proposed bond requests to the Commission for review and approval before requesting the State Treasurer to issue bonds; requests for bonds producing at least $10 million in net proceeds require detailed reports on repayment schedules, total costs, and opportunity cost analysis.

Current Commission members' terms end June 30, 2027, with staggered terms for new appointees beginning July 1, 2027; Commission must review and amend its bylaws by January 1, 2027, including requirements for publishing member email addresses and timely meeting materials.

Declares an emergency, making the act effective upon passage.