Renames Office of Emergency Management as Oregon Department of Emergency Management. Establishes department as independent state agency. Directs department to carry out certain functions related to regional and statewide emergency response and preparedness. Transfers Oregon Emergency Response System from Department of State Police to Oregon Department of Emergency Management, operative July 1, 2025. Renames office of State Fire Marshal as Department of the State Fire Marshal and establishes department as independent state agency, operative July 1, 2023. Transfers Oregon Homeland Security Council to Office of Governor. Adds members to and modifies duties of commission. Establishes Emergency Preparedness Advisory Council to facilitate policy recommendations related to catastrophic disaster. Sunsets council on January 2, 2030. Establishes Local Government Emergency Management Advisory Council to provide advice and recommendations to Oregon Department of Emergency Management regarding department's emergency preparedness and response functions. Sunsets council on January 2, 2030. Establishes task force to make recommendations as to whether State Fire Marshal should be made independent state agency or housed within existing state agency, operative immediately. Directs task force to report recommendations by February 1, 2022. Becomes operative on July 1, 2022, except as specified. Appropriates moneys from General Fund and increases certain expenditure limitations for various state agencies to carry out provisions of Act. Declares emergency, effective on passage.