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Committee lays over bill to fund green bank loan program for school HVAC and geothermal upgrades
Summary
House File 1598, moved March 18, would send $20 million to the Minnesota Climate Innovation Finance Authority to capitalize a revolving loan fund for school HVAC and geothermal projects; an A1 author's amendment specifying funding sources and definitions was adopted and the bill was laid over.
A Minnesota House committee on March 18 laid over House File 1598 after adopting an author's amendment that specifies funding amounts and definitions for geothermal systems.
Representative Hollins moved the bill and the A1 amendment; the amendment inserts $10 million from the Renewable Development Account (RDA) and $10 million from the general fund for a total $20 million appropriation to the Minnesota Climate Innovation Finance Authority (MNCIFA). "This bill, as amended, ' would provide $20,000,000 to the Minnesota Climate Innovation Finance Authority," Hollins said.
Why it matters: Sponsor testimony described MNCIFA (sometimes called the Green Bank) as a vehicle to create a low'interest revolving loan fund that would allow school districts to…
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