MN SF4149

Establishes a school energy conservation revolving loan fund in the Department of Commerce to provide loans to independent and special school districts for energy conservation improvements in school buildings.

Loans are offered at zero interest rates for terms not exceeding 15 years, with principal payments beginning no later than one year after project completion.

School districts must submit applications including project cost estimates, descriptions of existing equipment and proposed improvements, detailed budgets, energy savings calculations, and evidence of repayment ability.

Fund is credited with investment income and principal and interest repayments, with money annually appropriated to the commissioner and not subject to lapse.

Appropriates $20,500,000 from the general fund in fiscal year 2021 as a onetime appropriation to establish the revolving loan fund.