MI HB6045

Creates the "weatherization, heating, and energy efficiency loans for schools fund" within the state treasury, administered by the Department of Licensing and Regulatory Affairs, to receive deposits from any source including local units of government, public utilities, and private entities.

Authorizes fund expenditures as grants or loans for school districts, intermediate school districts, and public school academies to support weatherization, energy efficiency upgrades, alternative fuel school buses, and retrofitting projects.

Requires loans to be repaid in annual amounts not exceeding the annual energy or cost savings realized by the school district as a result of the financed project.

Directs the director to develop an application process by June 1, 2013, and evaluate applications based on project comprehensiveness, matching funds, energy cost savings, job creation, applicant solvency, and prior success with fund-financed projects.

Requires annual reports to the legislature beginning December 1, 2013, detailing all fund expenditures, loan recipients, amounts, and outstanding loan balances from prior years.