Bill > SB1526

This bill directs the State Department of Energy (ODOE) to seek grant money from the State Agency Program Fund, and potentially other sources, to cover the costs of forming a new nonprofit entity designed to finance clean energy and resilience projects. If sufficient funds, at least $2 million, are secured, ODOE will convene a founding board with at least eight members, including representatives from state departments, non-governmental organizations, and a labor organization, all possessing specific expertise in areas like financing, energy, infrastructure, and community development, with a focus on diverse perspectives and underserved communities. This founding board will then establish a nonprofit entity whose purpose is to finance projects that promote clean energy generation, conservation, greenhouse gas reduction, and infrastructure resilience, with a priority for lower-income, tribal, rural, or underserved communities. The nonprofit entity will be required to have a supermajority vote to amend its articles of incorporation, be able to receive capital from various sources, and report annually to the Legislative Assembly. Additionally, the Oregon Business Development Department and ODOE will collaborate with this new entity to explore financing and contractual opportunities, and all state agencies are to assist ODOE and the founding board in their efforts.

Agriculture and Natural Resources, Budget and Finance

https://olis.oregonlegislature.gov/liz/2026R1/Measures/Overview/SB1526