HB 977 Summary

• Defines "underserved ratepayer" to include state and local governments, low- and moderate-income homeowners, renters, nonprofits, small businesses, and multi-family rental projects.

• Authorizes the Clean Energy and Energy Efficiency Revolving Loan Fund to provide low-cost loans and financial assistance to underserved ratepayers for clean energy investments, in addition to other eligible borrowers.

• Appropriates funds from general revenues into the clean energy and energy efficiency revolving loan fund for fiscal year 2025-2026 (amount not specified in bill text).

• Appropriates funds from the revolving loan fund to provide loans and financial assistance to eligible borrowers for clean energy investments in fiscal year 2025-2026, with funds not lapsing at end of fiscal year.

• Takes effect July 1, 3000 (note: effective date appears to contain typographical error).