S.F. No. 4392 Summary

• Appropriates $149.5 million in fiscal year 2023 to the Department of Commerce for energy and climate initiatives, including weatherization assistance ($34.5M), solar for schools expansion ($3M), and renewable integration demonstration grants ($5M from renewable development account).

• Establishes a water utility energy resilience program with $18M in grants to support installation of renewable energy, energy efficiency, and energy storage technologies at water treatment facilities.

• Creates the Minnesota Green Innovation Finance Fund as a nonprofit corporation with $34M in capitalization to provide loans and credit enhancements for clean energy, electrification, and climate resilience projects, with priority for underserved communities.

• Establishes a decarbonization technology investment fund with $35M to provide loans and grants to Minnesota businesses developing carbon-reducing energy technologies, with at least 50% allocated to greater Minnesota and minority-owned businesses.

• Allocates $20M to a state competitiveness account to leverage federal energy infrastructure and clean energy funding through grants prioritizing disadvantaged communities and utilities.