Capital Access Fund; investment; retrieval of interest; administrative expenses

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Capital Access Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purpose of making payments to loss reserve accounts established under ORS 285B.109 to 285B.119. (2) Moneys in the Capital Access Fund, with the approval of the State Treasurer, may be invested as provided by ORS 293.701 to 293.857, and the earnings from such investment shall be credited to the Capital Access Fund. (3) The Capital Access Fund shall consist of: (a) Moneys appropriated to the fund by the Legislative Assembly. (b) Interest earned on moneys in the fund. (c) Moneys returned to the fund from loss reserve accounts or other sources. (4) If the department deems retrieval of interest earned on loss reserve accounts appropriate, the department may transfer into the fund up to 50 percent of the interest earned on moneys in loss reserve accounts. (5) The department may charge administrative costs to the fund to pay for actual and necessary administrative expenses incurred by the department in administering the fund and establishing and maintaining loss reserve accounts under ORS 285B.109 to 285B.119. [Formerly 285B.147] (Oregon Small Business Development Act)