Oregon Fund for Post-Secondary Education, SJR 1 (2014)

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Funding for Post-Secondary Education
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Type:Constitutional amendment
Referred by:Legislature
Topic:Education
An Oregon Funding for Post-Secondary Education, SJR 1, is on the November 4, 2014 ballot in Oregon as a legislatively-referred constitutional amendment. If approved, the measure would amend the state constitution to create Article XI-R. This new article would create a fund for Oregonians pursuing post-secondary education and authorize the financing of this fund via debt.[1]

Supporters call the measure the "Oregon Opportunity Initiative."[2]

Text of the measure

2014 measures
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November 4
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Endorsements

Constitutional changes

SJR 1 creates Article XI-R of the Constitution of Oregon. The proposed amendment reads:[1]

ARTICLE XI-R

SECTION 1. (1) In the manner provided by law and notwithstanding the limitations con- tained in section 7, Article XI of this Constitution, the credit of the State of Oregon may be loaned and indebtedness incurred to:

(a) Finance the corpus of the Oregon Student Opportunity Fund established pursuant to section 3 of this Article.
(b) Refinance indebtedness incurred under this section.
(2) Indebtedness incurred under this section may be used to pay the costs of issuing, administering and paying indebtedness incurred under this section.

SECTION 2. (1) Indebtedness may be incurred under section 1 of this Article in an ag- gregate principal amount that does not exceed, at any one time, one percent of the real market value of all property in this state.

(2) Indebtedness incurred under section 1 of this Article is a general obligation of the State of Oregon and must contain a direct promise on behalf of the State of Oregon to pay the principal of, the interest on and the premium, if any, on the obligation. The full faith and credit and taxing power of the State of Oregon must be pledged to pay the principal of, the interest on and the premium, if any, on the obligation. However, the State of Oregon may not pledge or levy an ad valorem tax to pay the indebtedness.

SECTION 3. (1) The Legislative Assembly shall establish a fund to be known as the Oregon Student Opportunity Fund. The moneys in the Oregon Student Opportunity Fund must be used for the exclusive benefit of Oregon students pursuing post-secondary educa- tion, including technical, professional and career training.

(2) In addition to the deposit of proceeds of indebtedness described in paragraph (a) of subsection (1) of section 1 of this Article, moneys in the fund may include:
(a) Gifts, devises or bequests made to the State of Oregon for deposit in the fund; and
(b) Any other moneys deposited in the fund by law.
(3) Moneys described in subsection (2) of this section that are deposited in the fund:
(a) May be invested as provided by law and are not subject to the limitations of section 6, Article XI of this Constitution.
(b) Must be retained in the fund, except as provided in subsection (6) of this section.
(4) Earnings on moneys in the fund:
(a) Must be credited to the fund; and
(b) May be retained in the fund or used to provide financial assistance to Oregon students

pursuing post-secondary education, including technical, professional and career training.

(5) The Legislative Assembly may pass a bill to appropriate earnings on moneys in the fund for the purpose described in subsection (4)(b) of this section.
(6) Notwithstanding subsection (1) of this section, when the Governor declares an emer- gency pursuant to this subsection, the Legislative Assembly, with the approval of four-fifths of the members present in each house, may pass a bill to:
(a) Use the moneys for any lawful purpose if the Legislative Assembly has approved a plan to replenish the fund on appropriate terms.
(b) Use all or a portion of the moneys in the fund to pay the principal of, interest on and premium, if any, on indebtedness incurred under section 1 of this Article.

SECTION 4. The Legislative Assembly may enact legislation to carry out the provisions of this Article.
SECTION 5. This Article supersedes conflicting provisions of this Constitution.

Support

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The measure is supported by the Oregon Opportunity Initiative.[2]

Supporters

Officials

Individuals

  • Linda Gerber, President, Sylvania Campus of Portland Community College[2]
  • David Wilmott, Chief Operating Officer, Blount International

Path to the ballot

See also: Amending the Oregon Constitution

According to Section 1, Article XVIII of the Oregon Constitution a majority vote of both chambers of the Oregon State Legislature was required to place the amendment proposed by the legislature on the statewide ballot. SJR 1 was approved by the Oregon Senate on June 21, 2013. SJR 1 was approved by the Oregon House of Representatives on June 28, 2013.[1]

Senate vote

June 21, 2013 Senate vote

Oregon SJR 1 Senate Vote
ResultVotesPercentage
Approveda Yes 20 66.67%
No1033.33%

House vote

June 28, 2013 House vote

Oregon SJR 1 House Vote
ResultVotesPercentage
Approveda Yes 34 57.63%
No2542.37%

See also

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External links

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Additional reading

References


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