HB 1844 Summary

• Creates a clean energy and energy efficiency revolving loan fund administered by the Hawaii Green Infrastructure Authority to provide low-cost financing for clean energy technology, energy efficiency measures, renewable energy, green transportation infrastructure, and recycling projects.

• Establishes a $50,000,000 appropriation from the new revolving loan fund for fiscal year 2020-2021 to finance loans and financial assistance to eligible public, private, and nonprofit borrowers.

• Allows the fund to accept borrowings up to $50,000,000 from federal, county, private, or other sources including the U.S. Department of Agriculture and national green banks.

• Repeals the building energy efficiency revolving loan fund established under section 201-20 and removes references to it from the Hawaii state energy office fund allocations.

• Takes effect July 1, 2020.