HF 1598

as introduced - 94th Legislature (2025 - 2026) Posted on 04/07/2025 05:05pm

A bill for an act
relating to energy; establishing an air ventilation improvement and geothermal
infrastructure for schools financing program; appropriating money.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin AIR VENTILATION IMPROVEMENT AND GEOTHERMAL
INFRASTRUCTURE FOR SCHOOLS FINANCING PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin An air ventilation improvement and geothermal
infrastructure for schools financing program is established in the Minnesota Climate
Innovative Finance Authority. The purpose of the program is to provide low-interest financing
to school districts for air ventilation improvements and the installation of geothermal energy
systems on or adjacent to school buildings.
new text end

new text begin Subd. 2. new text end

new text begin Priority; goals. new text end

new text begin The Minnesota Climate Innovative Finance Authority must
prioritize the use of program money in a manner that achieves a high ratio of private to
public money invested through financing mechanisms that support, enhance, and complement
the program's goals, including:
new text end

new text begin (1) prioritizing schools and students in communities with high rates of poverty, as
determined by receipt of federal Title I funding;
new text end

new text begin (2) funding an equal number of projects inside the seven-county metropolitan area and
outside the seven-county metropolitan area;
new text end

new text begin (3) serving as a financial resource to reduce the upfront and total costs to implement
qualified projects; and
new text end

new text begin (4) developing consumer protection standards to ensure that financial support is (i)
provided responsibly and transparently, and (ii) in the participating project owners' financial
interest.
new text end

new text begin Subd. 3. new text end

new text begin Eligibility. new text end

new text begin To receive financing under this section, a borrower must be an
independent school district under Minnesota Statutes, section 120A.05, subdivision 10; a
special school district under Minnesota Statutes, section 120A.05, subdivision 14; or a
cooperative unit under Minnesota Statutes, section 123A.24, subdivision 2.
new text end

Sec. 2. new text begin APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin General fund. new text end

new text begin $....... in fiscal year 2026 is appropriated from the general
fund to the Minnesota Climate Innovative Finance Authority for the air ventilation
improvement and geothermal infrastructure for schools financing program.
new text end

new text begin Subd. 2. new text end

new text begin Renewable development account. new text end

new text begin Notwithstanding Minnesota Statutes, section
116C.779, subdivision 1, paragraph (j), $....... in fiscal year 2026 is appropriated from the
renewable development account in the special revenue fund to the Climate Innovative
Finance Authority for the air ventilation improvement and geothermal infrastructure for
schools financing program.
new text end

new text begin Subd. 3. new text end

new text begin Cancellation. new text end

new text begin Any amount appropriated in subdivisions 1 and 2 that is not used
for financing by June 30, 2027, cancels to the account the money was appropriated from.
new text end