Connecticut Senate Bill SB00542

Connecticut 2013 Regular Session

• Introduced: 1/24/13
• Refer: 1/24/13

Caption

An Act Concerning Low-interest Loan Programs For Residential Oil Tank, Furnace And Boiler Replacements.

Impact

If passed, SB00542 would enhance the availability of affordable financing options for residents looking to replace aging oil tanks and heating systems. This could result in increased compliance with modern energy standards and improved overall energy efficiency within residences. Additionally, by promoting such upgrades, the bill may contribute to environmental benefits, such as reduced emissions from older, less efficient heating systems, thus fostering a more sustainable energy landscape.

Summary

SB00542, introduced by Senator Kelly, proposes an amendment to title 16a of the general statutes to expand low-interest revolving loan programs aimed at facilitating the replacement of residential oil tanks, furnaces, and boilers. The bill seeks to incentivize homeowners to upgrade outdated and inefficient heating systems, thereby promoting greater energy efficiency and potentially reducing heating costs for residents. By providing financial aid in the form of low-interest loans, the bill aims to lessen the financial burden on homeowners undertaking necessary upgrades to their heating systems.

Contention

While the bill appears to gain support from advocates of energy efficiency and residential improvement, there could be points of contention regarding funding and the administration of the loan program. Questions might arise concerning the state’s financial capacity to support expanded loan programs and the potential impacts on existing funding frameworks. Furthermore, stakeholders may debate the eligibility criteria for homes and whether the low-interest loans are sufficient to motivate homeowners to make the initial investments required for replacing these systems.