Bill > SB23

This bill establishes the Green and Renewable Energy Efficiency for Nonprofits (GREEN) Loan Program and Fund, which will provide financial assistance in the form of no-interest loans to nonprofit organizations that are exempt from federal income tax under § 501(c)(3) of the Internal Revenue Code. These loans can be used for planning, purchasing, and installing qualifying energy systems that generate electricity or thermal energy for on-site use and help meet state environmental goals, as well as for energy efficiency improvements like replacing windows or upgrading HVAC systems. The Maryland Clean Energy Center will manage the program, and applications will be prioritized for nonprofits with annual budgets of $1,000,000 or less, with borrowers required to contribute at least 10% of the project cost. A dedicated GREEN and Renewable Energy Efficiency for Nonprofits Loan Fund will be established, funded by state appropriations, transfers from the Strategic Energy Investment Fund, and other public or private sources, with specific appropriations planned for fiscal years 2028 and 2029. The bill also makes technical changes to renumber sections of the economic development law and ensures that interest earned on the GREEN Fund will accrue to the fund itself, rather than the General Fund, and allows for funds to be transferred from the Strategic Energy Investment Fund to the GREEN Fund. The Maryland Clean Energy Center is also tasked with establishing an application process, setting guidelines for loan applications and repayment, and developing an advertising campaign for the program by July 1, 2027, with the program itself set to take effect on July 1, 2027.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0023?ys=2026RS