Oregon SB1543 amends transportation commission membership, establishes debt financing policy, and modifies bond issuance procedures.

Oregon SB1543 modifies the Oregon Transportation Commission by increasing its membership to seven, including five voting members appointed by the Governor. The bill mandates the commission to develop a debt financing management policy for highway projects, ensuring annual debt service does not exceed 20% of state transportation resources. Before the Department of Transportation can request bond issuance, it must submit the request to the commission for review. The commission can approve, modify, or deny the request based on the policy. The bill also declares an emergency, effective on passage.

Oregon SB1543 amends transportation commission membership, establishes debt financing policy, and modifies bond issuance procedures.

Oregon SB1543 modifies the Oregon Transportation Commission by increasing its membership to seven, including five voting members appointed by the Governor. The bill mandates the commission to develop a debt financing management policy for highway projects, ensuring annual debt service does not exceed 20% of state transportation resources. Before the Department of Transportation can request bond issuance, it must submit the request to the commission for review. The commission can approve, modify, or deny the request based on the policy. The bill also declares an emergency, effective on passage.