Additional financing program by investor-owned utility for rental dwelling
In addition to the residential energy conservation program approved under ORS 469.633 (Investor-owned utility program), an investor-owned utility may offer an additional financing program for energy conservation measures for a dwelling owner who rents the dwelling to a tenant whose dwelling unit receives energy for space heating from the investor-owned utility. The financing program may consist, at a minimum, of either of the following:
(1) Offering low-interest loans to fund the entire cost of installed energy conservation measures up to $5,000 per dwelling unit. In addition to the loan subsidy provided under ORS 469.633 (Investor-owned utility program) (3), the loan shall be further subsidized by applying the present value to the public utility of the tax credit received under ORS 469B.130 (Definitions for ORS 469B.130 to 469B.169 and 469B.171) to 469B.169 (Suspension or revocation of certificate). Any portion of the present value of the tax credit shall accrue to the dwelling owner rather than to the investor-owned utility.
(2) Offering cash payments in addition to the cash payments required in ORS 469.633 (Investor-owned utility program) (3). The additional cash payment shall be equal to the present value of the tax credit received under ORS 469B.130 (Definitions for ORS 469B.130 to 469B.169 and 469B.171) to 469B.169 (Suspension or revocation of certificate). [1985 c.745 §11; 1989 c.765 §9]
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