Oregon Statutes 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.
Terms Used In Oregon Statutes 470.640
- Loan: includes the purchase or other acquisition of evidence of indebtedness and money used for the purchase or other acquisition of evidence of indebtedness. See Oregon Statutes 470.050
- On-bill financing: means a mechanism for collecting the repayment of an energy efficiency and sustainable technology loan through a utility customer account billing system. See Oregon Statutes 470.050
- United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
(2) The loan amount limit described in subsection (1) of this section shall increase annually on January 1 of each year, beginning January 1, 2011. The loan amount limit shall increase from the most recently established loan amount limit by a percentage equal to the percentage increase in the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor. [2009 c.753 § 28; 2010 c.92 § 6; 2019 c.57 § 26]