Relating to the total return distribution method for endowment care cemeteries.

HB 3344 allows cemetery authorities in Oregon to choose a new method for distributing funds from endowment care accounts, which directly affects cemeteries managing these funds. Instead of distributing only interest and dividends (net income method), authorities can elect to distribute based on the average value of the fund's assets multiplied by a set percentage (up to 4%), known as the "total return distribution." Authorities must formally notify the Department of Consumer and Business Services and submit investment policies, trust agreements, and distribution plans to switch methods. The bill also sets safeguards, requiring the department to intervene if fund values decline significantly or if management fails to meet standards.