---
type: "Bill"
title: "Relating to state financial administration."
description: "<b>Digest: The Act raises the maximum amount of money that can be held in a reserve fund. (Flesch Readability Score: 74.2).</b>"
jurisdiction: "us/states/or"
legislature: "Oregon Legislative Assembly"
session: "2024R1"
identifier: "SB 1562"
citation: "Oregon SB 1562 (2024R1)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Fred Girod", "Jeffrey Helfrich", "Sen Steiner", "Tawna Sanchez"]
version_count: 5
action_count: 19
vote_count: 4
first_action: "2024-02-05T15:05:18+00:00"
last_action: "2024-04-11T16:02:52+00:00"
source: "openstates"
source_identifier: "ocd-bill/e461400e-5d7a-4b30-8e0e-6cb6b6e0281a"
source_url: "https://olis.oregonlegislature.gov/liz/2024R1/Measures/Overview/SB1562"
source_hash: "94a972c5cf3d2deb75fa123fc664765af8b562ad37f21f28b6d1a92eb2b65eb7"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-or"]
---

# Oregon SB 1562 (2024R1) — Relating to state financial administration.

<b>Digest: The Act raises the maximum amount of money that can be held in a reserve fund. (Flesch Readability Score: 74.2).</b>

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](https://olis.oregonlegislature.gov/liz/2024R1/Downloads/MeasureDocument/SB1562/Introduced)
2. **Senate Amendments to Introduced** (filed) — [source](https://olis.oregonlegislature.gov/liz/2024R1/Downloads/MeasureDocument/SB1562/Senate%20Amendments%20to%20Introduced)
3. **A-Engrossed** (committee substitute) — [source](https://olis.oregonlegislature.gov/liz/2024R1/Downloads/MeasureDocument/SB1562/A-Engrossed)
4. **SFR Amendment -1** (committee substitute) — [source](https://olis.oregonlegislature.gov/liz/2024R1/Downloads/ProposedAmendment/26033)
5. **Enrolled** (enrolled) — [source](https://olis.oregonlegislature.gov/liz/2024R1/Downloads/MeasureDocument/SB1562/Enrolled)

## Votes

- Heard and Reported Out — **7–0** (pass) · lower
- Rules suspended. Third reading. Carried by Sanchez. Passed. — **55–0** (pass) · lower
- Third reading. Carried by Steiner. Passed. — **28–0** (pass) · upper
- Heard and Reported Out with Amendments — **4–0** (pass) · upper

## Sponsors

- Fred Girod — primary (person)
- Jeffrey Helfrich — primary (person)
- Sen Steiner — primary (person)
- Tawna Sanchez — primary (person)
- Bobby Levy — cosponsor (person)
- Boomer Wright — cosponsor (person)
- David Brock Smith — cosponsor (person)
- Dick Anderson — cosponsor (person)
- E. Werner Reschke — cosponsor (person)
- Janeen Sollman — cosponsor (person)
- Janelle Bynum — cosponsor (person)
- Kim Thatcher — cosponsor (person)
- Lynn Findley — cosponsor (person)
- Mark Owens — cosponsor (person)
- Maxine Dexter — cosponsor (person)
- Paul Evans — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2024-02-05T15:05:18+00:00** Introduction and first reading. Referred to President's desk. `introduction, reading-1, referral-committee`
- **2024-02-05T17:31:30+00:00** Referred to Finance and Revenue. `referral-committee`
- **2024-02-15T23:01:00+00:00** Public Hearing held.
- **2024-02-22T23:02:00+00:00** Work Session held.
- **2024-02-27T17:23:20+00:00** Recommendation: Do pass with amendments. (Printed A-Eng.) `committee-passage-favorable`
- **2024-02-28T19:07:59+00:00** Second reading. `reading-2`
- **2024-02-29T19:25:46+00:00** Third reading. Carried by Steiner. Passed. `passage, reading-3`
- **2024-02-29T22:19:33+00:00** First reading. Referred to Speaker's desk. `introduction, reading-1, referral-committee`
- **2024-03-01T00:19:05+00:00** Referred to Revenue. `referral-committee`
- **2024-03-04T16:31:00+00:00** Public Hearing held.
- **2024-03-05T16:32:00+00:00** Work Session held.
- **2024-03-06T03:43:40+00:00** Recommendation: Do pass. `committee-passage-favorable`
- **2024-03-06T18:58:28+00:00** Second reading. `reading-2`
- **2024-03-07T00:01:51+00:00** Rules suspended. Third reading. Carried by Sanchez. Passed. `passage, reading-3`
- **2024-03-12T18:41:21+00:00** President signed. `passage`
- **2024-03-13T22:07:25+00:00** Speaker signed. `passage`
- **2024-04-04T22:38:42+00:00** Governor signed. `executive-signature`
- **2024-04-11T16:00:34+00:00** Chapter 98, 2024 Laws.
- **2024-04-11T16:02:52+00:00** Effective date, January 1, 2025.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e461400e-5d7a-4b30-8e0e-6cb6b6e0281a`. Confidence: reported (aggregated from official Oregon legislature records).