MN HF2498

Establishes a state rebate program for geothermal heat exchange systems in commercial and multifamily buildings, with rebates capped at 15% of system costs or $100,000 per project, whichever is less

Eligible applicants include persons, businesses, nonprofits, government entities, federally recognized Tribes, and religious institutions that have received or applied for federal Inflation Reduction Act geothermal rebates

Requires applicants to own the building, obtain an energy audit by a certified building analyst within 18 months of applying, and use a qualified contractor for installation

Prioritizes applications for low-income rental properties and buildings owned by nonprofits or government entities

Creates a dedicated account in the special revenue fund, with unused money canceling to the renewable development account on January 1, 2033; appropriations come from both the renewable development account and general fund based on project location