Relating to the State Department of Energy; prescribing an effective date.
Catchline/Summary:
Modifies cost recovery formula for site certificate holders. Modifies cost recovery formula for site certificate holders. Transfers duties, functions and powers of State Department of Energy related to issuance of loans for small scale local energy projects to Oregon Business Development Department. Becomes operative on July 1, 2018.
Requires Oregon Business Development Department to study commercial needs in state for loans for small scale local energy projects. Requires Oregon Business Development Department to initially complete study no later than September 15, 2018.
Requires loan contracts to make loans payable in full in event that Director of Oregon Business Development Department declares default of payment of loan or project that is subject of loan fails to meet standards and criteria for projects. Becomes operative on July 1, 2018.
Abolishes Energy Project Supplemental Fund, Energy Revenue Bond Repayment Fund, Energy Project Bond Loan Fund and Jobs, Energy and School Fund. Transfers moneys remaining in abolished funds to Small Scale Local Energy Project Administration and Bond Sinking Fund.
Repeals energy efficiency and sustainable technology loan program.
Takes effect on 91st day following adjournment sine die.
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HB 3166 Joint Committee On Ways and Means
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