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Senate committee considers $20 million package (oral change) to back low‑interest loans for school HVAC and geothermal projects
Summary
Senate File 17 87 would create a revolving loan program through the Minnesota Clean Infrastructure Financing Authority to help schools fund HVAC and geothermal upgrades; a committee oral amendment inserted $10 million in two line items and the committee adopted the amendment and laid the bill over.
Sen. John Jeong presented Senate File 17 87 to the committee, proposing that the Minnesota Clean Infrastructure Financing Authority (MNCIFA, sometimes referred to as the state green bank) establish a revolving loan fund to help K‑12 schools finance HVAC modernization and geothermal installations.
“Many schools across the state struggle with outdated HVAC systems, leading to poor indoor air quality and rising energy costs,” Kari Groth Swan, executive director of MNCIFA, told the committee. She said the agency would coordinate low‑interest financing, leverage federal tax‑credit direct pay provisions and crowd in private capital to create a revolving pool that…
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