Chapter 470 — Chapter 470

ORS 470.585 Energy Revenue Bond Repayment Fund; uses. (1) The Energy Revenue Bond Repayment Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Energy Revenue Bond Repayment Fund shall be credited to the fund. Moneys in the fund may be invested as provided in ORS 293.701 to 293.857. Moneys in the fund are continuously appropriated to the State Department of Energy for the payment of

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ORS 470.590 Proposals; selection. The State Department of Energy may request proposals for and select one or more financial managers for the energy efficiency and sustainable technology loan program. The function of a financial manager is

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ORS 470.595 Investment with financial manager; rate of return. Private utilities and other private entities may invest capital with an energy efficiency and sustainable technology loan program financial manager for use in carrying out the loan program. The Public Utility Commission may establish a reasonable rate of return that a financial manager may pay to a utility investing capital under this section. In establishing the rate of return, the commission shall consider the risk to the utility in providing the investment capital. [2009 c.753 §20]

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ORS 470.600 State Department of Energy may enter agreements to disburse supplemental capital funds; conditions. To achieve the energy efficiency and sustainable technology loan program goals described in ORS 470.500, the Director of the State Department of Energy may enter into agreements to disburse supplemental capital funds through the Small Scale Local Energy Project Loan Fund and the Energy Project Supplemental Fund if

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ORS 470.605 Local governments may direct moneys to certain funds to finance loans; accounting of moneys. (1) Subject to the approval of the Director of the State Department of Energy, a local government, public utility or other legally organized entity may direct moneys to the Energy Project Supplemental Fund or Jobs, Energy and Schools Fund for use within a limited geographic area of this state as a source of capital for financing energy efficiency and sustainable technology loans, small scale local energy program loans or loan offset grants

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ORS 470.610 Issuance of bonds; written declarations of State Department of Energy. (1) The State Treasurer, at the request of the Director of the State Department of Energy, from time to time may issue and sell revenue bonds in the name of and on behalf of the State of Oregon in compliance with the applicable provisions of ORS chapter 286A in the principal amount necessary to carry out the purposes of ORS 470.500 to 470.710, or for paying or refunding any revenue bonds previously issued on behalf of the State Department of Energy for those purposes. At least once every six months, the director shall estimate the anticipated demand for loans under the energy efficiency and sustainable technology loan program, and shall make a written declaration of this amount to the State Treasurer

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ORS 470.615 Payment of bonds. (1) Revenue bonds issued under ORS 470.610 do not constitute a debt, liability or general obligation of this state or any political subdivision of this state or a pledge of the faith and credit of this state or any political subdivision of this state, but shall be payable solely from the revenues, moneys and other assets of the Energy Project Bond Loan Fund and the Energy Project Supplemental Fund that are pledged to the repayment in the energy revenue bond declaration

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ORS 470.620 Bond pledges; trustees. The bonds issued by the State Treasurer under ORS 470.610 and the energy revenue bond declaration may

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ORS 470.630 Form of disbursement; conditions for issuance. (1) The State Department of Energy may disburse energy efficiency and sustainable technology loan and small scale local energy program loan moneys by providing the loan moneys through a sustainable energy project manager or providing the loan moneys to or through an entity described in ORS 470.060. Loan moneys may be disbursed through a sustainable energy project manager only for the purpose of enabling the sustainable energy project manager to issue energy efficiency and sustainable technology loans and small scale local energy program loans to applicants in the utility service territory served by the sustainable energy project manager

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ORS 470.635 Requirement for energy savings projection; form of projection; use of certified primary contractors. (1) The State Department of Energy may not complete an agreement for the issuance of an energy efficiency and sustainable technology loan unless the sustainable energy project manager, a primary contractor designated by the sustainable energy project manager or a person approved by the department completes an energy savings projection or similar evaluation for the property that will benefit from the small scale local energy project. The projection or other evaluation shall be in writing and shall, at a minimum, identify the following

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ORS 470.640 Amount of loans; exceptions. (1) Except as provided in subsection (2) of this section, the amount of an energy efficiency and sustainable technology loan may not exceed $40,000 for residential dwellings served by a single meter of the utility that is to provide on-bill financing. The loan limit described in this subsection does not apply to other buildings such as multifamily housing and mixed-use structures

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ORS 470.645 Application for loan; contents. An application for an energy efficiency and sustainable technology loan must contain

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ORS 470.650 Residential small scale local energy projects; weatherization program. (1) If an applicant for a loan to construct a residential small scale local energy project has household income that may qualify the person for a weatherization program operated by the Housing and Community Services Department, the sustainable energy project manager shall refer the applicant to the department. This subsection does not prohibit a sustainable energy project manager from accepting an application from a person who has been denied, or is receiving, assistance under a department weatherization program

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ORS 470.655 Project initiation fee; base efficiency package fee; rules. (1) Except as provided in ORS 470.650, an applicant for an energy efficiency and sustainable technology loan approved by the State Department of Energy shall pay the department a project initiation fee. Upon request of the loan applicant, the department may add all or part of a project initiation fee to the principal of an issued loan. The department may establish the fee amount by rule, not to exceed four percent of the approved loan amount. If the department does not establish the fee amount, the fee shall be two percent of the approved loan amount

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ORS 470.660 Investor-owned utilities; requirements of system; rules; waiver. (1) All investor-owned utilities, except those that have withheld consent under ORS 470.510 (3), shall provide on-bill financing, except as described in subsection (4) of this section. After an investor-owned utility has established an on-bill financing system, an energy efficiency and sustainable technology loan shall be repaid by on-bill financing unless the loan agreement specifies that the State Department of Energy and the borrower have agreed to an alternative method for ensuring repayment of the loan

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ORS 470.665 Consumer-owned utilities; requirements of system; rules; waiver. (1) If a consumer-owned utility has established an on-bill financing system, an energy efficiency and sustainable technology loan shall be repaid by on-bill financing unless the loan agreement specifies that the State Department of Energy and the borrower have agreed to an alternative method for ensuring repayment of the loan

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ORS 470.670 Repayment requirement for customer served by electric utility and gas utility. If a customer is served by both an electric utility and a gas utility that both have an on-bill financing system, a loan repaid through on-bill financing shall be repaid through the on-bill financing system of the utility that supplies the customer’s primary source of heat for the property. [2009 c.753 §34]

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ORS 470.675 Cost eligibility for ratemaking purposes; loan repayment charges. (1) If a utility incurs reasonable costs in implementing an on-bill financing system that exceed any moneys received by the utility to assist in the implementation, the costs are legitimate costs for ratemaking purposes

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ORS 470.680 State Department of Energy to identify forms of acceptable security. (1) Subject to ORS 470.170, the State Department of Energy may identify forms of acceptable security for energy efficiency and sustainable technology loans that the department determines will achieve the goals and requirements of the energy efficiency and sustainable technology loan program and that provide adequate security for repayment of the loans

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ORS 470.685 Recording liens; foreclosure of liens; attorney fees and costs. (1) The State Department of Energy or a sustainable energy project manager may act on behalf of the Director of the State Department of Energy for the purpose of recording a lien in favor of the director as required by ORS 470.170 (3) against property benefited by an energy efficiency and sustainable technology loan

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ORS 470.690 Avoidance of foreclosure. A person that acquired an interest in a property in good faith and for a valuable consideration before the date a lien described in ORS 470.680 or 470.685 attached to the property under ORS 470.170 may avoid foreclosure of the lien by paying any delinquencies and collection costs associated with the underlying loan repayment charge and assuming normal payments in compliance with the energy efficiency and sustainable technology loan agreement repayment provisions. [2009 c.753 §38]

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ORS 470.695 Sale of real property; notice of loan repayment charge required. A person entering into an agreement to sell, rent, lease or otherwise confer a right in the person’s real property that is benefited by an energy efficiency and sustainable technology loan for which a loan repayment charge or other repayment obligation applies or for which a fixture filing, lien or other form of security exists shall, prior to any party signing the agreement, give notice of the loan repayment charge, repayment obligation, filing, lien or other security affecting the property to the other parties to the agreement. [2009 c.753 §39]

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ORS 470.700 Use of loan offset grant moneys; alternate mechanisms. (1) The State Department of Energy may use loan offset grant moneys for any of the following if, in the absence of the grant moneys, a utility customer would incur higher overall monthly costs when energy costs and small scale local energy project costs are considered

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ORS 470.710 Apprenticeship and job training. (1) The State Department of Energy shall collaborate with the State Workforce and Talent Development Board and other interested parties to identify opportunities for apprenticeship and for job training and development that would further the goals of ORS 470.500 to 470.710 and provide valuable skills to Oregon workers

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ORS 470.715 Costs of adopting rules. The cost of adopting rules under ORS 470.140 to carry out ORS 470.500 to 470.710

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ORS 470.720 Loan program information to be provided by utilities; rules. All investor-owned utilities and consumer-owned utilities that have customers enrolled in energy efficiency and sustainable technology loan programs shall, at the request of the Director of the State Department of Energy, provide the director with the following information in aggregated form regarding the loans

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ORS 470.800 Clean Energy Deployment Fund; sources; uses. (1) The Clean Energy Deployment Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Clean Energy Deployment Fund shall be credited to the Clean Energy Deployment Fund. Moneys in the fund are continuously appropriated to the State Department of Energy for use as provided in ORS 470.810

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ORS 470.805 Renewable Energy Development Subaccount; sources; uses. (1) The Renewable Energy Development Subaccount is established in the Clean Energy Deployment Fund established in ORS 470.800. Interest earned by the Renewable Energy Development Subaccount shall be credited to the subaccount. Moneys in the fund are continuously appropriated to the State Department of Energy for purposes related to renewable energy development

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ORS 470.810 Clean energy deployment program; prevailing wage requirements; rules. (1) The State Department of Energy shall establish the clean energy deployment program to provide grants and loans to support energy efficiency or clean energy projects in this state. The department shall establish criteria for qualifications of the projects by rule

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ORS 470.815 School district projects. (1) School districts that participate in the clean energy deployment program established in ORS 470.810 may finance projects to

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ORS 470.825 Definitions for ORS 470.825 to 470.840. As used in ORS 470.825 to 470.840

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ORS 470.830 Grants for community renewable energy projects; application; rules. (1) The Community Renewable Investment Program is established for the purpose of

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ORS 470.835 Performance agreements; requirements. (1)(a) A performance agreement for planning a community renewable energy project entered into between the State Department of Energy and an applicant under ORS 470.830 (9) must provide, at a minimum

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ORS 470.840 Advisory Committee on Community Renewable Investment. The Director of the State Department of Energy may appoint an Advisory Committee on Community Renewable Investment to provide consultation on the implementation of ORS 470.825 to 470.840. A committee appointed under this section shall consist of

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ORS 470.845 Community Renewable Investment Fund; reports. (1) The Community Renewable Investment Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Community Renewable Investment Fund shall be credited to the fund. The fund consists of

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