MN SF2887

Authorizes home rule charter and statutory cities to establish loan programs for property owners to finance energy efficient and renewable energy improvements.

Loans are funded through revenue bonds and repaid via special assessments collected through property tax, with bonds payable solely from assessment revenues and not city general funds.

Requires cities to obtain energy audits or renewable energy feasibility studies before approving loans and to verify installation and performance of improvements.

Limits loan principal to the lesser of 10% of property appraised value or actual improvement costs, with repayment term not exceeding the weighted average useful life of the improvements.

Expands Minnesota Statutes section 429.101 to authorize municipalities to collect special assessments for energy improvements to residential or business property under the new program.