SB 1601 (2020 first special session), enrolled

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(3) “Investment officer” means the State Treasurer in the capacity as investment officer for the council. SECTION 16. ORS 293.701, as amended by section 64, chapter 678, Oregon Laws 2019, is amended to read: 293.701. As used in ORS 293.701 to 293.857, unless the context requires otherwise: (1) “Council” means the Oregon Investment Council. (2) “Investment funds” means: (a) Public Employees Retirement Fund referred to in ORS 238.660; (b) Industrial Accident Fund referred to in ORS 656.632; (c) Consumer and Business Services Fund referred to in ORS 705.145; (d) Employment Department Special Administrative Fund referred to in ORS 657.822; (e) Insurance Fund referred to in ORS 278.425; (f) Funds under the control and administration of the Department of State Lands; (g) Oregon Student Assistance Fund referred to in ORS 348.570; (h) Moneys made available to the Commission for the Blind under ORS 346.270 and 346.569 or rules adopted thereunder; (i) Forest Development Revenue Bond Fund referred to in ORS 530.147 and State Forestry General Obligation Bond Fund referred to in ORS 530.280; (j) Oregon War Veterans’ Fund referred to in ORS 407.495; (k) Oregon War Veterans’ Bond Sinking Account referred to in ORS 407.515; (L) World War II Veterans’ Compensation Fund; (m) World War II Veterans’ Bond Sinking Fund; (n) Funds in the hands of the State Treasurer that are not required to meet current demands and that are invested in the Oregon Short Term Fund established under ORS 293.728 or in another commingled investment vehicle; (o) State funds that are not subject to the control and administration of officers or bodies spe- cifically designated by law; (p) Funds derived from the sale of state bonds; (q) Social Security Revolving Account referred to in ORS 237.490; (r) Public University Fund established by ORS 352.450; (s) Local Government Employer Benefit Trust Fund referred to in ORS 657.513; [(t) Elderly and Disabled Special Transportation Fund established by ORS 391.800; ] [(u)] (t) Education Stability Fund established by ORS 348.696; [(v)] (u) Deferred Compensation Fund established under ORS 243.411; [(w)] (v) Trust for Cultural Development Account established under ORS 359.405; [(x)] (w) The State Library Donation Fund and the Talking Book and Braille Library Endowment Fund subaccount established under ORS 357.195; [(y)] (x) Funds in the Unclaimed Property Revolving Fund created in ORS 98.388; and [(z)] (y) Funds in the Common School Fund that are available for investment. (3) “Investment officer” means the State Treasurer in the capacity as investment officer for the council. SECTION 17. ORS 541.561 is amended to read: 541.561. (1) The Water Resources Department shall establish a grant program to pay the quali- fying costs of planning studies performed to evaluate the feasibility of developing a water conser- vation, reuse or storage project, as described in ORS 541.566. A grant under this section may be made to a local government as defined in ORS 174.116, [ to an Indian tribe as defined in ORS 391.802] to a federally recognized Indian tribe in Oregon that has members residing on a reservation or tribal trust lands in Oregon or to a person. (2) In lieu of grants, the department may pay the cost of providing direct services, including but not limited to technical planning services, for a planning study that is eligible for a grant under this section. Enrolled Senate Bill 1601 (SB 1601-A) Page 10

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