HB 35 - Home Heating Improvement Loan Program

• Establishes a low-interest loan program allowing homeowners to borrow for improving or replacing primary heating systems in owner-occupied single-family homes or duplexes located in Alaska.

• Requires homeowners to obtain an inspection by an approved energy rater or registered mechanical contractor to determine energy efficiency improvements and cost savings before applying for a loan.

• Sets loan terms at 1% interest rate repaid over 10 years with a maximum loan amount of $15,000 or the actual cost of improvements plus inspection fees, whichever is less.

• Restricts eligibility to homes that are substantially complete, owner-occupied permanent residences and excludes homes previously receiving loans under this program, homes planned for destruction within 12 months, or those with more than 25% commercial use.

• Requires loan recipients to comply with building and housing codes and obtain all required permits, and directs loan repayments and interest into the general fund for program administration or other public purposes.