Bill Text: OR SB342 | 2013 | Regular Session | Introduced

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Bill Title: Relating to the Water Pollution Control Revolving Fund; declaring an emergency.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-07-08 - In committee upon adjournment. [SB342 Detail]

Download: Oregon-2013-SB342-Introduced.html

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     77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 2639

                         Senate Bill 342

Sponsored by Senator JOHNSON (Presession filed.)

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Extends term of certain loans from Water Pollution Control
Revolving Fund from 20 years to 30 years.
  Declares emergency, effective on passage.

                        A BILL FOR AN ACT
Relating to the Water Pollution Control Revolving Fund; creating
  new provisions; amending ORS 468.440; and declaring an
  emergency.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 468.440 is amended to read:
  468.440. (1) The Environmental Quality Commission shall
establish by rule policies for establishing loan terms and
interest rates for loans made from the Water Pollution Control
Revolving Fund that ensure that the objectives of ORS 468.423 to
468.440 are met and that adequate funds are maintained in the
Water Pollution Control Revolving Fund to meet future needs. In
establishing the policy, the commission shall take into
consideration at least the following factors:
  (a) The capability of the project to enhance or protect water
quality.
  (b) The ability of a public agency to repay a loan.
  (c) Current market rates of interest.
  (d) The size of the community or district to be served by the
treatment works.
  (e) The type of project financed.
  (f) The ability of the applicant to borrow elsewhere.
  (g) Whether advances have been made to the Water Pollution
Control Revolving Fund from the Pollution Control Fund that must
be repaid to the Pollution Control Sinking Fund.
  (2) The commission may establish an interest rate ranging from
zero to the market rate. The commission may establish the loan
term, provided that the loans must be fully amortized not later
than   { - 20 - }   { + 30 + } years after project completion.
  (3) The commission shall adopt by rule any procedures or
standards necessary to carry out the provisions of ORS 468.423 to
468.440.
  SECTION 2. { +  The amendments to ORS 468.440 by section 1 of
this 2013 Act apply to loans made from the Water Pollution
Control Revolving Fund:
  (1) Prior to the effective date of this 2013 Act that are not
fully amortized on the effective date of this 2013 Act.
  (2) On or after the effective date of this 2013 Act. + }
  SECTION 3.  { + This 2013 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2013 Act takes effect on its
passage. + }
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