Oregon Constitution "ARTICLE IX FINANCE"
Here is a summary of Article IX – Finance of the Oregon Constitution:
Oregon Constitution – Article IX: Finance
Purpose:
Article IX outlines the structure and rules governing the financial system of the state of Oregon. This includes how money is raised (taxes, revenues), how it is spent (appropriations), and how financial accountability is ensured (audits, debt limits, etc.).
Key Provisions:
Use of Public Funds:
Public funds can only be used as authorized by law.
No money shall be drawn from the Treasury except by appropriations made by law.
Uniform Taxation:
Taxation must be uniform on the same class of subjects within the territorial limits of the authority.
Budget and Appropriations:
The legislature must enact laws that ensure annual budgeting and appropriations for government functions.
State Debt:
The Constitution limits the amount of debt the state may incur, except in special circumstances (e.g., to suppress insurrection, repel invasion).
Voter approval is often required for incurring long-term debt.
Emergency Fund:
The legislature may create and use an emergency fund to meet urgent needs without waiting for a full budget cycle.
Lottery and Dedicated Funds:
Provisions exist for state lottery revenues to be used for economic development, education, and natural resource programs.
Specific funds (like the Education Stability Fund) are set aside for designated purposes.
Audit and Financial Oversight:
The Secretary of State serves as the auditor of public accounts, ensuring financial transparency and accountability.
Property Tax Limitations (Measures 5 & 50):
There are limitations on property tax rates and assessment increases to control tax burdens and government spending.
RELATED Blog
0 comments