OAR 860-030-0018: Rental Unit Additional Financing

(1) After December 31, 1985, energy utilities, upon request of final certification from the Department of Energy, under ORS chapter 469, shall offer additional financing as described in section (3) of this rule for energy conservation measures installed by a dwelling owner who rents the dwelling to a tenant whose dwelling unit receives energy for space heating from an energy utility. (2) Upon being notified by the Department of Energy that it has committed all available tax credits for rental unit additional financing for a given calendar year, an energy utility shall stop offering additional financing until it is notified that tax credits are available. (3) The dwelling owner may select one of the following types of financing: (a) The dwelling owner may select a low-interest loan pursuant to OAR 860-030-0015(2)(a). In such case, the dwelling owner shall be liable to repay to the energy utility the loan minus the present value to the utility of the tax credit received, as established pursuant to ORS 469.185 to 469.225; (b) The dwelling owner may select a cash payment pursuant to OAR 860-030-0015(2)(b). In such case, the cash payment shall be supplemented by an amount equal to the present value to the energy utility of the tax credit received, as established pursuant to ORS 469.185 to 469.225. (4) Investor-owned energy utilities shall notify their customers annually of the availability of the financing options with regard to the tax credit established pursuant to ORS 469.185 to 469.225 and of the option to apply directly to the State of Oregon for a tax credit.