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Oregon Revised Statutes Public Health and Safety § 469.966

Current as of January 01, 2023 | Updated by Findlaw Staff

<Text of section applicable to tax years prior to Jan. 1, 2015.  See, also, section applicable to tax years beginning on or after Jan. 1, 2015.>

(1) The State Department of Energy shall establish by rule policies for establishing loan terms and interest rates for loans made from the Alternative Fuel Vehicle Revolving Fund that ensure that the objectives of ORS 469.960 to 469.966 are met and that adequate funds are maintained in the Alternative Fuel Vehicle Revolving Fund to meet future needs. In establishing the policy, the department shall take into consideration at least the following factors:

(a) The ability of a public body or tribe to repay a loan.

(b) Current market rates of interest.

(2) The department may establish an interest rate ranging from zero to the market rate. The department may establish the loan term, provided that the loan is fully amortized not later than six years after the purchase of a new alternative fuel vehicle or the conversion of a vehicle that uses gasoline or diesel to an alternative fuel vehicle.

(3) The department shall adopt by rule any procedures or standards necessary to carry out the provisions of ORS 469.960 to 469.966.

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Cite this article: FindLaw.com - Oregon Revised Statutes Public Health and Safety § 469.966 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-36-public-health-and-safety/or-rev-st-sect-469-966/

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