Establishes a School Energy Savings Revolving Loan Fund to support energy efficiency projects in Maine schools.
This bill establishes the School Energy Savings Revolving Loan Fund, administered by the Department of Education, to support energy and energy efficiency projects in Maine schools. The fund will be capitalized by a $10,000,000 bond issue, subject to voter approval. Funds can be loaned at low interest to school administrative units for projects like equipment upgrades, insulation improvements, and system replacements. The fund sources include state appropriations, loan repayments, investment gains, and bond proceeds.
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