MD HB1040

Mandates at least $365,000,000 annually from the Maryland Strategic Energy Investment Fund for climate change programs during fiscal years 2028-2032, with this allocation taking priority over other fund uses

Directs $244 million annually to the Maryland Energy Administration for specific purposes including $100 million for appliance replacement incentives (induction stoves, heat pumps, heat pump water heaters), $50 million for solar deployment, $25 million for electric vehicle programs, and $20 million for energy efficiency equity grants

Allocates $45 million annually to the State Department of Education for reducing school carbon emissions ($25 million) and acquiring electric school buses ($20 million)

Provides $50 million annually to the Maryland Clean Energy Center and $13 million combined to the Department of the Environment for clean energy communications and climate programs

Changes allowance sale proceeds allocation requirements to 65% for energy assistance (up from 50%) and 35% for efficiency/conservation programs (up from 20%), while eliminating the previous 20% renewable energy allocation category