ORS 284.883 Oregon Growth Board; members; staff

The Oregon Growth Board is established to formulate and implement policies and procedures to administer ORS

284.881 to 284.890, and to make recommendations for the investment, reinvestment, management and coordination of funds in the Oregon Growth Account established under ORS 348.702 and the Oregon Growth Fund established under ORS 284.890.

The board shall consist of nine voting members and one to three nonvoting members as follows:

The State Treasurer shall be an ex officio voting member of the board.

The Director of the Oregon Business Development Department, or the director’s designee, shall be an ex officio nonvoting member of the board.

The Governor shall appoint eight voting members, subject to Senate confirmation under ORS 171.562 and 171.565 and the following:

Two of the members shall be persons who do not belong to the same political party, who reflect the identity of the Legislative Assembly by political party affiliation at the time the persons are appointed and who are selected from a list of four candidates, each candidate recommended by the President of the Senate, the Minority Leader of the Senate, the Speaker of the House of Representatives or the Minority Leader of the House of Representatives, respectively.

Members shall include at least one representative from each congressional district in this state.

Six members shall be appointed as follows:

One member with experience in banking;

One member with experience in credit union operations;

One member with experience managing investments;

One member with experience as a small business employer in this state; and

Two at-large members.

Two members of the Legislative Assembly that belong to different political parties as determined by the appropriate entry on official election registration cards, who are appointed by agreement of the President of the Senate, the Minority Leader of the Senate, the Speaker of the House of Representatives and the Minority Leader of the House of Representatives, shall serve as nonvoting members of the board. If an agreement cannot be reached on both members of the Legislative Assembly to serve on the board, no appointment shall be made under this paragraph.

The term of office of each member who is not an ex officio member is four years. A member appointed by the Governor serves at the pleasure of the Governor. Before the expiration of the term of a member who is not an ex officio member, the appointing authority shall appoint a successor whose term begins on January 1 next following. A member is eligible for reappointment. If there is a vacancy for any cause, including but not limited to the end of a term of membership in the Legislative Assembly, the appointing authority shall make an appointment to become immediately effective for the unexpired term.

The board shall select one of its members as chairperson and another to serve as a liaison with local governments for such terms and with duties and powers necessary for the performance of the functions of these offices as the board determines, consistent with this section.

A majority of the voting members of the board constitutes a quorum for the transaction of business.

A member of the board may receive compensation and reimbursement for expenses as follows:

Members of the Legislative Assembly as provided in ORS 171.072.

Nonlegislative members in the manner and amounts provided in ORS 292.495. Claims for compensation and expenses incurred in performing the functions of the board shall be paid out of funds appropriated to the board for that purpose.

The Oregon Business Development Department shall provide staff to the board as necessary to allow the board to carry out its responsibilities under ORS 284.881 to 284.890.