SB463 • 2025

Requires the Oregon Department of Administrative Services to submit by January 31 of each even-numbered year a report to the Legislative Assembly concerning the soundness of the state's Insurance Fund.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Senator Weber,, Representative Reschke,, Senator Gelser Blouin, Senator Bonham,, Frederick,, Smith DB,, Thatcher,, Representative Javadi,, Osborne,, Scharf,
Last action: 2025-06-20
Official status: Chapter Number Assigned
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Requires the Oregon Department of Administrative Services to submit by January 31 of each even-numbered year a report to the Legislative Assembly concerning the soundness of the state's Insurance Fund.

Digest: Tells a state agency to do a report about how well the state's Insurance Fund is doing.

What This Bill Does

Digest: Tells a state agency to do a report about how well the state's Insurance Fund is doing.
(Flesch Readability Score: 70.1).
Requires the Oregon Department of Administrative Services to submit by January [<i>15</i>]<b> 31</b> of each even-numbered year a report to the Legislative Assembly concerning the soundness of the state's Insurance Fund.
Specifies the contents of the report and directs agencies of state government and participants in the fund to cooperate with and assist the department in carrying out the department's duties under the Act.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2025-06-20 Senate
Chapter 288, 2025 Laws.
2025-06-20 Senate
Effective date, June 9, 2025.
2025-06-09 Senate
Governor signed.
2025-05-29 Senate
President signed.
2025-05-29 House
Speaker signed.
2025-05-28 Senate
Senate concurred in House amendments and repassed bill. Ayes, 30.
2025-05-15 House
Third reading. Carried by Reschke. Passed. Ayes, 52; Excused, 6--Edwards, Nguyen H, Owens, Smith G, Wallan, Wright; Excused for Business of the House, 1--Yunker.
2025-05-14 House
Rules suspended. Carried over to May 15, 2025 Calendar.
2025-05-13 House
Second reading.
2025-05-12 House
Recommendation: Do pass with amendments and be printed B-Engrossed.
2025-05-06 House
Work Session held.
2025-05-01 House
Public Hearing held.
2025-04-15 House
Referred to Commerce and Consumer Protection.
2025-04-10 Senate
Third reading. Carried by Weber. Passed. Ayes, 29; Excused, 1--Woods.
2025-04-10 House
First reading. Referred to Speaker's desk.
2025-04-09 Senate
Carried over to 04-10 by unanimous consent.
2025-04-08 Senate
Carried over to 04-09 by unanimous consent.
2025-04-07 Senate
Carried over to 04-08 by unanimous consent.
2025-04-03 Senate
Second reading.
2025-04-02 Senate
Recommendation: Do pass with amendments and subsequent referral to Ways and Means be rescinded. (Printed A-Eng.)
2025-04-02 Senate
Subsequent referral rescinded by order of the President.
2025-03-27 Senate
Work Session held.
2025-03-25 Senate
Public Hearing held.
2025-01-21 Senate
Public Hearing held.
2025-01-17 Senate
Referred to Labor and Business, then Ways and Means.
2025-01-13 Senate
Introduction and first reading. Referred to President's desk.

Official Summary Text

Digest: Tells a state agency to do a report about how well the state's Insurance Fund is doing. (Flesch Readability Score: 70.1).
Requires the Oregon Department of Administrative Services to submit by January [<i>15</i>]<b> 31</b> of each even-numbered year a report to the Legislative Assembly concerning the soundness of the state's Insurance Fund. Specifies the contents of the report and directs agencies of state government and participants in the fund to cooperate with and assist the department in carrying out the department's duties under the Act.
Declares an emergency, effective on passage.
Relating to: Relating to reporting on the soundness of the state's Insurance Fund; and declaring an emergency.
Current location: Chapter Number Assigned

Current Bill Text

Read the full stored bill text

83rd OREGON LEGISLATIVE ASSEMBLY--2025 Regular Session
Enrolled
Senate Bill 463
Sponsored by Senator WEBER, Representative RESCHKE, Senator GELSER BLOUIN; Senators
BONHAM, FREDERICK, SMITH DB, THATCHER, Representatives JAVADI, OSBORNE,
SCHARF (Presession filed.)
CHAPTER .................................................
AN ACT
Relating to reporting on the soundness of the state’s Insurance Fund; and declaring an emergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1.
Section 2 of this 2025 Act is added to and made a part of ORS chapter 278.
SECTION 2. (1) Not later than January 31 of each even-numbered year, the Oregon De-
partment of Administrative Services shall research, compile, prepare and deliver to the
Legislative Assembly in accordance with ORS 192.245 a report on the financial condition and
stability of the Insurance Fund established under ORS 278.425. The report, at a minimum,
must examine and provide:
(a) An overview of the purpose, uses and structure of the Insurance Fund;
(b) The unencumbered balance of the Insurance Fund as of December 31 of the year
preceding the year in which the report is due;
(c) A list of the claims the Insurance Fund has closed in the previous two years in which
the amount paid exceeds $1 million;
(d) A list of the amounts, rates and apportionment of the assessments, charges and
contributions that state agencies and other participants currently pay into the Insurance
Fund and a trend line or other measurement that shows increases or decreases in the as-
sessments, charges or contributions within the previous two years;
(e) The date and results of the last audit of the Insurance Fund that the department
performed or had another person perform;
(f) An accounting of moneys that were advanced to the Insurance Fund from other funds
in the State Treasury that shows the amount and date of each advance, the source of the
advance, the reason and purpose for the advance and the current terms and conditions and
progress of repayments of the advance; and
(g) An evaluation of the actuarial soundness of the Insurance Fund.
(2) In addition to the items listed in subsection (1) of this section, the report must re-
commend strategies and actions necessary to achieve and maintain the solvency and
actuarial soundness of the Insurance Fund and all components of the Insurance Fund.
(3) The department may contract with an entity outside of state government to conduct
or assist with conducting the research, compilation and preparation of the report described
in subsection (1) of this section.
Enrolled Senate Bill 463 (SB 463-B) Page 1
(4) All agencies of state government, as defined in ORS 174.111, and all other participants
in the Insurance Fund, are directed to cooperate with and assist the department in carrying
out the department’s duties under this section.
SECTION 3. The Oregon Department of Administrative Services shall submit the first
instance of the report described in section 2 of this 2025 Act not later than January 31, 2026.
SECTION 4. This 2025 Act being necessary for the immediate preservation of the public
peace, health and safety, an emergency is declared to exist, and this 2025 Act takes effect
on its passage.
Passed by Senate April 10, 2025
Repassed by Senate May 28, 2025
..................................................................................
Obadiah Rutledge, Secretary of Senate
..................................................................................
Rob Wagner, President of Senate
Passed by House May 15, 2025
..................................................................................
Julie Fahey, Speaker of House
Received by Governor:
........................M.,........................................................., 2025
Approved:
........................M.,........................................................., 2025
..................................................................................
Tina Kotek, Governor
Filed in Office of Secretary of State:
........................M.,........................................................., 2025
..................................................................................
Tobias Read, Secretary of State
Enrolled Senate Bill 463 (SB 463-B) Page 2