OAR 123-099-0010: Purpose

The purpose of these rules is to establish the Industrial Lands Loan Fund required by the 82nd Oregon Legislative Assembly, 2023 Regular Session, passed chapter 25, sections 14 to 23, Oregon Laws 2023 (Enrolled Senate Bill 4). The scope of these rules includes requirements to administer and implement the Semiconductor Industrial Lands Loan Program (“Program”) developed by the Department for the state to make financial assistance awards in the form of a repayable or forgivable loan to fund development projects, including planning projects. These rules are designed to support private and public investment in industrial lands development projects associated with new or expanded semiconductor industry uses.