Oregon Administrative Rules
Chapter 340 - DEPARTMENT OF ENVIRONMENTAL QUALITY
Division 178 - UNDERGROUND STORAGE TANK REDUCED INTEREST RATE LOANS
Section 340-178-0020 - Reduced Interest Rate Benefits
Universal Citation: OR Admin Rules 340-178-0020
Current through Register Vol. 63, No. 3, March 1, 2024
(1) Any person qualifying for Tier 1, 2, 3, or 4 UST financial assistance under OAR Chapter 340, Division 172 will qualify for a reduced interest rate where the person receives a loan for UST project work from a commercial lending institution.
(2) In addition to the requirements of section (1) of this rule:
(a) A person
qualifying for Tier 1 financial assistance is eligible to receive a reduced
interest rate of 7.5 percent on a loan for the first $100,000 of eligible UST
project costs;
(b) A person
qualifying for Tier 2 financial assistance is eligible to receive a reduced
interest rate of 5.0 percent on a loan for the first $100,000 of eligible UST
project costs;
(c) A person
qualifying for Tier 3 financial assistance is eligible to receive a reduced
interest rate of 3.0 percent on a loan for the first $100,000 of eligible UST
project costs; and
(d) A person
qualifying for Tier 4 financial assistance is eligible to receive a reduced
interest rate of 1.5 percent on a loan for the first $100,000 of eligible UST
project costs.
Stat. Auth.:ORS 466.706 -ORS 466.895 &ORS 466.995
Stats. Implemented: OL 1991, Ch. 863, Sec. 6 & 6a
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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