Oregon Statutes 470.575 – Jobs, Energy and Schools Fund; sources; uses
(1) The Jobs, Energy and Schools Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Jobs, Energy and Schools Fund shall be credited to the Jobs, Energy and Schools Fund. Moneys in the fund are continuously appropriated to the State Department of Energy for use as provided in this section.
Terms Used In Oregon Statutes 470.575
- Applicant: means an applicant for a loan to construct a small scale local energy project. See Oregon Statutes 470.050
- Base efficiency package: means the package of energy efficiency upgrades or renewable energy projects for a property that, when energy savings, project repayment costs, tax or other incentives, loan offset grants and other relevant economic factors are considered, is estimated to not increase the utility bill of the customer over the loan repayment term. See Oregon Statutes 470.050
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
(2) The fund shall consist of any moneys directed by law, gift, grant or donation to the fund and moneys from base efficiency package fees collected pursuant to ORS § 470.655.
(3) The department shall use fund moneys:
(a) To promote energy efficiency, renewable energy and energy conservation projects, including the clean energy deployment program established in ORS § 470.810, that would otherwise result in a higher overall cost to the applicant when energy costs and the financing and repayment costs for the project are considered, by using the fund moneys to help reduce the overall financing costs associated with related projects; or
(b) To transfer to an appropriate fund for carrying out any purpose under this chapter specified as a condition of a gift, grant or donation. [2009 c.753 § 16; 2010 c.92 § 2; 2011 c.467 § 9; 2013 c.656 § 18]