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Committee holds no-interest loan program bill for nonprofit green energy projects pending technical fix
Summary
Senate Bill 105, proposing a no-interest loan program for nonprofits to install thermal or solar systems and encouraging $5 million in funding from the Strategic Energy Investment Fund, was discussed and held pending a technical amendment clarifying special-fund interest treatment and a BRFA-related provision.
Committee members discussed Senate Bill 105, a multiyear bill that would authorize a no-interest loan program to help nonprofit organizations install green energy measures such as solar and thermal systems. The bill encourages a $5 million allocation and would allow use of money from the Strategic Energy Investment Fund to support the program.
The bill establishes loan application rules, permits use of loans for specified energy installations, and requires nonprofits to provide a 10% match. It also includes an uncodified provision directing the Maryland Energy Administration to prepare the program and set up an application process; the program would not begin until July 1, 2026.
Committee members raised a technical drafting issue: when a new special fund is created the code must specify whether interest earned by the fund is retained in that fund or transferred to the general fund. Because of a BRFA provision enacted last year, the committee was advised that the BRFA language could supersede the drafted provision for a period of time. The sponsor said an additional technical amendment will be required to ensure interest earned remains in the special fund and that staff will add a BRFA fix. The committee agreed to hold the bill until that technical amendment is prepared and settled.
