Or. Admin. Code § 603-007-0140

Current through Register Vol. 63, No. 12, December 1, 2024

Section 603-007-0140 - Application Procedure and Requirements

To be eligible for ODAP forgivable loan assistance, a Person must submit an Application to a Lending Institution that is approved by the Lending Institution. To receive approval, an Application must meets the Program Requirements, including but not limited to the following:

(1)

(a) The Person files taxes in Oregon for farming or ranching operations located in Oregon; or

(b) The Person is an Indian tribe with farming or ranching operations in Oregon; and

(2) The Person has an Adjusted Gross Income or taxable income of less than $500,000 in the calendar year 2021;

(3) The Person's farming or ranching operations suffered an economic loss in the calendar year 2021 due to a Qualifying Natural Disaster;

(4) The Person signs an attestation that, to the best of their knowledge and belief, subject to a penalty of perjury, the statements on the Application are true and correct, and agrees to all the terms and conditions of the Application and the ODAP Guidance Document.

Or. Admin. Code § 603-007-0140

DOA 6-2022, temporary adopt filed 04/26/2022, effective 4/27/2022 through 10/23/2022

Statutory/Other Authority: OL 2021, Ch. 2, SB 892 (2021) & OL 2021, Ch. 4, SB 5561 (2021)

Statutes/Other Implemented: OL 2021, Ch. 2, SB 892 (2021) & OL 2021, Ch. 4, SB 5561 (2021)