Or. Admin. Code § 813-405-0030

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

Section 813-405-0030 - [Effective until 1/26/2025] Program Continuation

(1) The CLG program includes the backing of guarantee amounts depending largely upon individual project need. Guarantees may be activated and provided to borrowers or their associated lending institution in the form of loans or grants.

(2) Loans must include loan terms and interest rates though interest rates shall be established at rates below market levels. Funds returned through this process shall be reused by the program or until such time that the Department determines the program is no longer effective or funding is inadequate.

(3) At the time the program ends or any unused funds must be returned from any third party provider, not including any agreed administrative expenses.

Or. Admin. Code § 813-405-0030

OHCS 25-2024, temporary adopt filed 07/31/2024, effective 8/1/2024 through 1/26/2025

Statutory/Other Authority: HB 3395 (2023)

Statutes/Other Implemented: HB 3395 (2023) & ORS 456.270 - 456.295