71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
Enrolled
Senate Bill 948
Sponsored by Senator HANNON; Representatives LEE, NELSON (at the
request of Michael Burrill, Medford, OR)
CHAPTER ................
AN ACT
Relating to development incentives.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + (1) The Department of Environmental Quality
shall establish a community emission reduction credit bank upon
written request to the department by the appropriate board or
boards of county commissioners.
(2) The community emission reduction credit bank shall be
governed by rules adopted by the Environmental Quality
Commission. The validity of emission reduction credits shall be
determined by rule. The rules shall include, but need not be
limited to, the following:
(a) Valid emission reduction credits created or banked within
two years from the time of actual emission reduction may be
transferred to the community bank for up to 10 years. The 10-year
period shall begin at the time of actual emission reduction.
(b) The department shall transfer valid emission reduction
credits to the community bank upon written application from the
holder of the credits.
(c) The department may not discount credits banked under this
section during any 10-year period unless the commission finds it
necessary to discount the credits to attain or maintain air
quality standards.
(3) The community emission reduction credit bank shall be
administered by the appropriate board or boards of county
commissioners, in coordination with the department. + }
SECTION 2. { + Section 1 of this 2001 Act applies to emission
reductions occurring on or after January 1, 2000. + }
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Enrolled Senate Bill 948 (SB 948-B) Page 1
Passed by Senate May 7, 2001
Repassed by Senate June 5, 2001
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Secretary of Senate
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President of Senate
Passed by House May 31, 2001
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Speaker of House
Enrolled Senate Bill 948 (SB 948-B) Page 2
Received by Governor:
......M.,............., 2001
Approved:
......M.,............., 2001
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Governor
Filed in Office of Secretary of State:
......M.,............., 2001
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Secretary of State
Enrolled Senate Bill 948 (SB 948-B) Page 3