HB 3302: Relating to a public corporation for establishing secure cash storage facilities in this state; declaring an emergency.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Establishes the Oregon Cash Depository Corporation as an independent public corporation and prescribes the corporation's purposes and powers. Directs the corporation to lease or acquire real property and construct or renovate offices, facilities and business locations throughout the state at which the corporation receives, handles, stores and dispenses cash and other valuable property. Establishes the Oregon Cash Depository Corporation Fund in the State Treasury and requires the corporation to deposit all moneys the corporation receives into the fund. Permits the corporation to invest the moneys in the fund and a fraction of the corporation's deposits in accordance with the provisions of the Act. Subjects the corporation to an annual audit by the Secretary of State and requires the corporation to respond to the recommendations in the audit report. Requires a study of the corporation's operations every four years and a report to the Legislative Assembly. Requires the Attorney General to defend the corporation and the directors, officers and employees of the corporation against a claim or charge brought for actions in performing the duties of the corporation. Becomes operative January 1, 2026. Declares an emergency, effective on passage.

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. June 28, 2025In committee upon adjournment.
2. January 24, 2025Referred to Rules.
3. January 21, 2025First reading. Referred to Speaker's desk.