SB 267

Abstract

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 January 1, 2020. Requires loan contracts to make loans payable in full in event that Director of Oregon Business Development Department formally declares default of payment of loan or that project that is subject of loan fails to meet standards and criteria for projects. Becomes operative on January 1, 2020. Repeals certain provisions related to small scale local energy projects. Abolishes funds associated with provisions. Transfers moneys from abolished funds to Small Scale Local Energy Project Loan Fund. Appropriates moneys from General Fund to Oregon Business Development Department for purposes of Act. Repeals energy efficiency and sustainable technology loan program. Requires State Department of Energy to conduct audit of certain department activities. Declares emergency, effective on passage.