ORS 285B.063: Annual adjustment of maximum contract amounts.

(1) Beginning with the 2023 calendar year, the Oregon Business Development Department shall annually adjust the maximum contract amounts specified in ORS 285B.059 (1)(e) and 285B.062 by multiplying each amount by the percentage change in the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor, for the 12 consecutive months ending on the immediately preceding December 31 compared to the monthly averaged Consumer Price Index for All Urban Consumers, West Region (All Items), for the 12 consecutive months ending on December 31, 2021.

      (2) Notwithstanding subsection (1) of this section, the adjusted maximum contract amounts specified in ORS 285B.059 (1)(e) and 285B.062 may not be less than $2 million.