HB 741 Summary

• Adds "eligible energy-saving enterprise" as a new category of borrower eligible for state linked deposit loans, defined as any individual, partnership, corporation, cooperative, or limited liability company that completed an energy audit within two years and seeks financing to implement energy-saving recommendations.

• Allocates funding from the state's $720 million aggregate linked deposit pool to eligible energy-saving enterprises, which can be made from funds not otherwise allocated to other specified borrower categories.

• Requires the state treasurer to work with the Department of Natural Resources to prioritize linked deposit funding for energy-saving projects based on their energy savings potential, with the department reviewing applications and providing technical analysis.

• Requires eligible energy-saving enterprises to submit a copy of their energy audit as part of the linked deposit loan application to verify eligibility and inform funding decisions.

• Adds provision to the Department of Natural Resources' duties to provide technical guidance regarding energy conservation projects funded through other state agencies.