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Senate committee hears FORGE Act to create revolving clean-energy financing entity
Summary
Supporters from state government, banks and conservation groups told the Senate Committee SB 15 26 (the FORGE Act) would create a nonprofit revolving loan entity to finance clean-energy and resilience projects without using state general funds; one policy think tank raised concerns about duplication and bonding authority.
Sen. Janine Sullivan (for the record), appearing before the Senate Committee on Energy and Environment on Feb. 4, described Senate Bill 15 26 — the FORGE Act — as a phased framework directing the Oregon Department of Energy to seek grant funding to convene a founding board that would establish a nonprofit financing entity and a revolving loan program to finance clean-energy and resilience projects.
“This bill is about both economic development to get funds, projects funded and to and people,” Sullivan said, arguing the structure would let Oregon deliver projects at scale without committing state general fund dollars and while preserving…
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