Establishes a loan program for Maine public employees to finance home repairs and energy upgrades.
This bill creates the Maine Public Employees Retirement System Home Repair and Energy Upgrade Loan Program, which provides low-interest loans to participants for residential energy efficiency improvements and home repairs. The program is funded by the Maine Public Employees Retirement System Home Repair and Energy Upgrade Loan Fund, which is supported by reallocating retirement system portfolio funds currently invested in fossil fuel holdings. Loans are capped at $25,000, carry an interest rate not exceeding 2% per annum, and have a maximum term of years.
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- Critical Issues
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