Fund Management
ORS 541.865(4) directs the annual distribution of funds from the Oregon Environmental Restoration Fund into each of the three statutorily established funds. The State Agency Program Fund receives 50% of the funding, the Tribal Nation Natural Resource Program Fund receives 25% of the funding, and the Community Impact Fund receives 25% of the funding.
The Oregon Watershed Enhancement Board (OWEB) is the state agency statutorily responsible for administration of the Oregon Environmental Restoration Fund. OWEB also provides staff support to the Oregon Environmental Restoration Council.
To ensure the long-term preservation of the Oregon Environmental Restoration Fund, ORS 541.865(1) directs the Oregon Environmental Restoration Council to adopt a long-term distribution policy. The Oregon Environmental Restoration Fund will generate investment earnings and interest (collectively known as earnings) through market-based investments.
The Oregon Environmental Restoration Council has three primary responsibilities for the funds:
- Adopting administrative rules for the funds that govern how programs operate.
- Awarding funding from the State Agency Program Fund and Community Impact Fund.
- Ensuring investments made from each fund create impact for Oregon and Oregonians. The Council must report on these impacts to the Oregon Legislature every two years.