Relating to emergency preparedness; and prescribing an effective date.

Directs Oregon Homeland Security Council to develop updated list of equipment for purposes of emergency preparedness equipment grant program. Directs council to prioritize preparedness equipment necessary for urban search and rescue teams. Directs Office of Emergency Management to prioritize grant requests from certain applicants for urban search and rescue purposes. Authorizes issuance of general obligation bonds under Article XI-Q of Oregon Constitution for grant program. Limits amount of bond proceeds that may be expended for urban search and rescue preparedness equipment. ] Takes effect on 91st day following adjournment sine die.