OR SB1526

State Department of Energy must apply to the Environmental Restoration Council for grant moneys from the State Agency Program Fund to cover pre-startup activities and formation of a new nonprofit entity

Upon securing at least $2 million in grant funding, the department must recruit and convene a founding board of at least seven members, including directors from Energy, Business Development, and Housing departments, plus four nongovernmental representatives with expertise in financing, clean energy, or infrastructure

The founding board will form a nonprofit entity to finance clean energy and resilience projects, including energy generation/storage, energy efficiency, greenhouse gas reduction, and infrastructure improvements prioritizing lower income, tribal, rural, or underserved communities

The nonprofit must have a charter requiring supermajority approval for amendments, accept capital from public and private sources, and report annually to Legislative Assembly committees on activities and financial status

Oregon Business Development Department must explore capitalization and bonding arrangements with the nonprofit, while the State Department of Energy must explore contractual relationships and collaboration opportunities