ORS tit. 33, ch. 406, DEPARTMENT OF VETERANS' AFFAIRS, TEMPORARY PROVISIONS RELATING to LOTTERY BONDS ARE COMPILED AS NOTES FOLLOWING ORS 406.146
ORS tit. 33, ch. 406, DEPARTMENT OF VETERANS' AFFAIRS, TEMPORARY PROVISIONS RELATING to LOTTERY BONDS ARE COMPILED AS NOTES FOLLOWING ORS 406.146
Sections 39 and 40, chapter 671, Oregon Laws 2019, provide:
Sec. 39. (1) For the biennium beginning July 1, 2021, at the request of the Oregon Department of Administrative Services, after the department consults with the Department of Veterans' Affairs, the State Treasurer is authorized to issue lottery bonds pursuant to ORS 286A.560 to 286A.585 in an amount that produces $6 million in net proceeds for the purposes described in subsection (2) of this section, plus an additional amount estimated by the State Treasurer to be necessary to pay bond-related costs.
(2) Net proceeds of lottery bonds issued under this section must be transferred to the Department of Veterans' Affairs for deposit in the Veterans' Affordable Housing Fund, established in section 40, chapter 671, Oregon Laws 2019, for distribution to Salem Y Veterans Housing to construct veterans' affordable housing in Salem, which may include the acquisition of land for veterans' affordable housing.
(3) The Legislative Assembly finds that the use of lottery bond proceeds will create jobs, further economic development, finance public education or restore and protect parks, beaches, watersheds and native fish and wildlife, and is authorized based on the following findings:
(a) Having housing for at-risk populations is essential to Oregon's healthy economic growth.
(b) A severe shortage of affordable housing exists in Oregon, and market indicators demonstrate a growing gap between the supply of and the demand for affordable housing. [2019 c. 671, § 39; 2021 c. 682, § 18; 2022 c. 111, § 7]
Sec. 40. (1) The Veterans' Affordable Housing Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Veterans' Affordable Housing Fund must be credited to the fund. The Veterans' Affordable Housing Fund consists of moneys deposited in the fund under section 39, chapter 671, Oregon Laws 2019, as amended by section 18 of this 2021 Act, and may include moneys appropriated, allocated, deposited or transferred to the fund by the Legislative Assembly or otherwise and interest earned on moneys in the fund.
(2) Moneys in the fund are continuously appropriated to the Department of Veterans' Affairs for disbursement for the purposes set forth in section 39, chapter 671, Oregon Laws 2019, as amended by section 18 of this 2021 Act. [2019 c. 671, § 40; 2021 c. 682, § 19]