(1) As used in this section and ORS § 468A.298:

(a) ‘Climate protection program’ means the program to reduce greenhouse gas emissions from certain air contamination sources in Oregon, first adopted by the Environmental Quality Commission by rule on December 16, 2021.

(b) ‘Community climate investment entity’ means a nonprofit organization that has been approved by the Department of Environmental Quality and has entered into a written agreement with the department to implement projects supported by community climate investment funds.

(c) ‘Community climate investment funds’ means moneys paid by a covered fuel supplier to a community climate investment entity to support implementation of community climate investment projects.

(d) ‘Covered fuel supplier’ means a fuel supplier, in-state producer or local distribution company subject to the requirements of the climate protection program.

(2) The commission may establish by rule a fee to be paid by community climate investment entities. The fee established under this section:

(a) Must be reasonably calculated to cover the costs to the department of administering and overseeing those portions of the climate protection program related to community climate investments; and

(b) May not exceed five percent of the total community climate investment funds received by a community climate investment entity during the period for which the fee applies.

(3) Fees collected under this section shall be deposited into the Community Climate Investment Oversight Account established under ORS § 468A.298. [2023 c.442 § 80]