Or. Admin. Code § 330-110-0060
Current through Register Vol. 63, No. 10, October 1, 2024
Section 330-110-0060 - Alternative Fuel Vehicle Revolving Fund Program; Loan Terms(1) The department will use the moneys from the Alternative Fuel Vehicle Revolving Fund to provide loans to private entities as defined in ORS 469.960, public bodies defined in 174.109 and federally recognized Indian tribes in Oregon and may use the moneys to pay for the department's expenses in administering the Alternative Fuel Vehicle Revolving Fund, Alternative Fuel Vehicle Revolving Fund Program and related costs. (2) As defined in ORS 469.960 to be eligible for this loan program, private entities must operate a fleet of motor vehicles that are based in an area described in 468A.390 or 815.300 and must not hire fleet drivers who qualify as independent contractors, as defined in 670.600. (a) The department may use the address on the vehicle titles, the area the vehicles are operated the majority of time and other evidence of primary usage location to determine the fleet's base. Section (2) does not apply to public bodies or tribes. (b) Eligible private entities must certify, on the application form, stating they do not hire fleet drivers who qualify as independent contractors. (3) The loans may not be used for the full purchase or any expense not related to the alternative fuel vehicle project. Loans must be used to: (a) Assist in the purchase of new alternative fuel vehicles by providing funding for the incremental cost of purchasing alternative fuel vehicles that exceeds the cost of purchasing vehicles that are not alternative fuel vehicles; or (b) Convert or modify existing vehicles that use gasoline or diesel to alternative fuel vehicles. A conversion or modification of a motor vehicle must include at least one eligible alternative fuel as described in OAR 330-110-0060(4). (4) Alternative fuel vehicle means: (a) A motor vehicle, as defined in ORS 801.360; (b) That is manufactured or modified to use an alternative fuel, including but not limited to electricity, biofuel, gasohol with at least 20 percent denatured alcohol content, hydrogen, hythane, methane, methanol, natural gas, propane or any other fuel approved by the department; (c) That produces lower exhaust emissions or is more energy efficient than equivalent equipment fueled by gasoline or diesel; (d) Registered in Oregon in accordance with ORS 803; and (e) If a conversion or modification, new equipment is installed by a qualified technician that is compliant with Environmental Protection Agency or California Air Resources Board standards. (5) The terms and interest rate for these loans will be established by the department to recover the administrative cost of this loan program and to maintain a perpetual source of funding for the Alternative Fuel Vehicle Revolving Fund Program. A loan must be fully amortized not later than six years after the purchase of the new alternative fuel vehicle being financed by the loan or the conversion of a vehicle that uses gasoline or diesel to an alternative fuel vehicle. (6) The department will convene a review committee to review and prioritize loans, as needed. (7) The department may list the evaluation criteria for prioritizing loan applications. The department will give priority to loans for conversions or modifications. The additional criteria the department may consider for each vehicle covered by the application include, but are not limited to: (a) Fuel displacement capacity, (b) Geographical area or local economic conditions of the home base, (c) Accelerated repayment schedule, (e) Estimated annual mileage, (f) Gross weight of the vehicle, and (8) A loan application must be made on department approved forms and in a manner set by the department. An applicant must designate the Alternative Fuel Vehicle Revolving Fund Program in the purpose section of the application and include the required fees. For each vehicle covered by the application, the application must include information needed for prioritization in OAR 330-110-0060(6) plus the following information: (a) Vehicle Identification Number; (b) Vehicle make, model, year and description; (c) Current odometer reading; (d) Name of titled owner; (e) Gross vehicle weight; (g) Estimated annual mileage; (i) Loan repayment information, identifying the dedicated source of revenue for repayment purposes; and (j) Any other information requested by the department. (9) Submitting a loan application does not guarantee the department will provide a loan to the applicant. (10) The proceeds of loans made from the Alternative Fuel Vehicle Revolving Fund may be used for purchases or conversions as described in OAR 330-110-0060(2) no more than 60 days prior to the department receiving the loan application. (11) No one borrower may obtain a loan for greater than 30 percent of the total available, uncommitted funds in the Alternative Fuel Vehicle Revolving Fund. The department may adjust the allowed percentage for a borrower based on program usage. The department may also set a maximum aggregate amount of all loans outstanding that a single public entity or tribe may have under the Alternative Fuel Vehicle Revolving Fund. (12) Loans made from the Alternative Fuel Vehicle Revolving Fund will be subject to the department's underwriting standards and the requirements in OAR Chapter 330, division 110. Loans require final approval by the Director. (13) Pursuant to ORS 469.964 as amended by Oregon Laws 2014, chapter 38, section 4, the department may charge fees for Alternative Fuel Vehicle Revolving Fund loan applications. Applicants will pay the following fees and charges: (a) For loan amounts of $100,000 or more: (A) A non-refundable application fee of 0.1 percent of the amount of the loan applied for up to $2,500. (B) A non-refundable underwriting fee of $500 or 1.5 percent of the loan request amount, whichever is greater, but not to exceed $10,000. (C) Charges for items including, but not limited to credit reports, expert advice, legal fees, construction inspections, disbursement fees, loan servicing fees and appraisals, unless charges incurred also benefit another application, in which case the charges will be divided equitably. Such charges will be estimated or itemized for the applicant before they are incurred. (b) For loan amounts up to $100,000, refer to the department's Loan Fee Chart for a fee that combines the fees and charges described in this section and that is equal to or less than the sum of the fees and charges described in this section. (c) A charge for the cost of each request to release or modify security. (14) An Alternative Fuel Vehicle Revolving Fund borrower must report, on an annual basis for the term of the loan, the following: (b) Amount of fuel consumed, and (c) Other data as described in the loan agreement.Or. Admin. Code § 330-110-0060
DOE 4-2013, f. & cert. ef. 12-12-13; DOE 7-2014, f. 10-10-14, cert. ef. 1-1-15Stat. Auth.: ORS 469.040469.963 & 469.966
Stats. Implemented: ORS 469.960 - 469.966