It is an editor's brief statement of the essential features of the measure as introduced. Creates Academic Opportunity Investment Account. Specifies that penalties collected for environmental violations be deposited in account. Appropriates moneys from account to State System of Higher Education for purpose of providing financial assistance to graduate students pursuing certain studies. The Academic Opportunity Investment Account is created in the State Treasury, separate and distinct from the General Fund.
Interest earned on moneys in the account is to be credited to the account.
The account shall consist of penalties paid into the State Treasury and credited to the account as provided by ORS 468.135 from penalties assessed under ORS 468.140. Funds transferred under this subsection are continuously appropriated to the Department of Higher Education for the purposes specified in this section. For purposes of this section, 'annual ending balance ' is the amount of money in the Academic Opportunity Investment Account on December 31 of each year.