Maryland 2023 Regular Session

Maryland Senate Bill SB186 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1
2	2
3	3		EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTING LAW.
4	4		[Brackets] indicate matter deleted from existing law.
5		-	Underlining indicates amendments to bill.
6		-	Strike out indicates matter stricken from the bill by amendment or deleted from the law by
7		-	amendment.
8	5		sb0186
9	6
10	7		SENATE BILL 186
11	8		P1, M5 3lr0461
12		-	SB 683/22 – B&T ~~CF HB 1248~~
	9	+	SB 683/22 – B&T
13	10		By: Senator Kagan
14	11		Introduced and read first time: January 20, 2023
15	12		Assigned to: Budget and Taxation
16		-	Committee Report: Favorable with amendments
17		-	Senate action: Adopted
18		-	Read second time: March 18, 2023
19	13
20		-	~~CHAPTER ______~~
	14	+	A BILL ENTITLED
21	15
22	16		AN ACT concerning 1
23	17
24	18		Green and Renewable Energy for Nonprofit Org anizations Loan Program and 2
25	19		Fund 3
26	20
27	21		FOR the purpose of establishing the Green and Renewable Energy for Nonprofit 4
28	22		Organizations Loan Program in the Maryland Energy Administration to provide 5
29	23		financial assistance to nonprofit organizations for the purchase and installation of 6
30	24		qualifying energy systems and technical assistance for the planning and installation 7
31	25		of qualifying energy systems; establishing the Green and Renewable Energy for 8
32	26		Nonprofit Organizations Loan Fund as a special, nonlapsing fund; requiring interest 9
33	27		earnings of the Fund to be paid into the Fund; requiring the Administration, on or 10
34	28		before a certain date, to establish an application process, set guidelines and 11
35	29		considerations for application, selection, and repayment for loans made under the 12
36	30		Program, and develop an advertising campaign for the Program; and generally 13
37	31		relating to the Green and Renewable Energy for Nonprofit Organizations Loan 14
38	32		Program and Fund. 15
39	33
40	34		BY adding to 16
41	35		Article – State Government 17
42	36		Section 9–2101 through 9–2107 to be under the new subtitle “Subtitle 21. Green and 18
43	37		Renewable Energy for Nonprofit Organizations Loan Program” 19
44	38		Annotated Code of Maryland 20
45	39		(2021 Replacement Volume and 2022 Supplement) 21
46	40
47	41		BY repealing and reenacting, without amendments, 22
48		-	Article – State Finance and Procurement 23 2 SENATE BILL 186
	42	+	Article – State Finance and Procurement 23
	43	+	Section 6–226(a)(2)(i) 24
	44	+	Annotated Code of Maryland 25
	45	+	(2021 Replacement Volume and 2022 Supplement) 26
	46	+
	47	+	BY repealing and reenacting, with amendments, 27
	48	+	Article – State Finance and Procurement 28 2 SENATE BILL 186
49	49
50	50
51		-	Section 6–226(a)(2)(i) 1
	51	+	Section 6–226(a)(2)(ii)170. and 171. 1
52	52		Annotated Code of Maryland 2
53	53		(2021 Replacement Volume and 2022 Supplement) 3
54	54
55		-	BY ~~repealing and reenacting, with amendments,~~ 4
	55	+	BY adding to 4
56	56		Article – State Finance and Procurement 5
57		-	Section 6–226(a)(2)(ii)~~170. and 171~~. 6
	57	+	Section 6–226(a)(2)(ii)172. 6
58	58		Annotated Code of Maryland 7
59	59		(2021 Replacement Volume and 2022 Supplement) 8
60	60
61		-	BY adding to 9
62		-	Article – State Finance and Procurement 10
63		-	Section 6–226(a)(2)(ii)172. 11
64		-	Annotated Code of Maryland 12
65		-	(2021 Replacement Volume and 2022 Supplement) 13
	61	+	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 9
	62	+	That the Laws of Maryland read as follows: 10
66	63
67		-	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 14
68		-	That the Laws of Maryland read as follows: 15
	64	+	Article – State Government 11
69	65
70		-	Article – State Government 16
	66	+	SUBTITLE 21. GREEN AND RENEWABLE ENERGY FOR NONPROFIT 12
	67	+	ORGANIZATIONS LOAN PROGRAM. 13
71	68
72		-	SUBTITLE 21. GREEN AND RENEWABLE ENERGY FOR NONPROFIT 17
73		-	ORGANIZATIONS LOAN PROGRAM. 18
	69	+	9–2101. 14
74	70
75		-	9–2101. 19
	71	+	(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 15
	72	+	INDICATED. 16
76	73
77		-	(A) ~~IN THIS SUBTITLE~~ THE ~~FOLLOWING WORDS HAVE THE MEANINGS 20~~
78		-	~~INDICATED~~. 21
	74	+	(B) “ADMINISTRATION ” MEANS THE MARYLAND ENERGY 17
	75	+	ADMINISTRATION . 18
79	76
80		-	(B) “~~ADMINISTRATION~~ ” MEANS ~~THE MARYLAND ENERGY 22~~
81		-	~~ADMINISTRATION~~. 23
	77	+	(C) “BORROWER” MEANS A NONPROFIT OR GANIZATION THAT APPL IES AND 19
	78	+	QUALIFIES FOR A LOAN UNDER THE PROGRAM. 20
82	79
83		-	(C) “~~BORROWER~~” MEANS ~~A NONPROFIT OR GANIZATION THAT APPL IES~~ AND 24
84		-	~~QUALIFIES FOR A~~ LOAN ~~UNDER THE PROGRAM~~. 25
	80	+	(D) “FUND” MEANS THE GREEN AND RENEWABLE ENERGY FOR 21
	81	+	NONPROFIT ORGANIZATIONS LOAN FUND. 22
85	82
86		-	(D) “FUND” MEANS THE GREEN AND RENEWABLE ENERGY FOR 26
87		-	NONPROFIT ORGANIZATIONS LOAN FUND. 27
	83	+	(E) “NONPROFIT ORGANIZATIO N” MEANS AN ORGANIZATIO N THAT IS 23
	84	+	EXEMPT FROM FEDERAL INCOME TAX UNDER § 501(C)(3) OF THE INTERNAL 24
	85	+	REVENUE CODE. 25
88	86
89		-	(E) “NONPROFIT ORGANIZATIO N” MEANS AN ORGANIZATIO N THAT IS 28
90		-	EXEMPT FROM FEDERAL INCOME TAX UNDER § 501(C)(3) OF THE INTERNAL 29
91		-	REVENUE CODE. 30
	87	+	(F) “PROGRAM” MEANS T HE GREEN AND RENEWABLE ENERGY FOR 26
	88	+	NONPROFIT ORGANIZATIONS LOAN PROGRAM. 27
92	89
93		-	(F) “PROGRAM” MEANS THE GREEN AND RENEWABLE ENERGY FOR 31
94		-	NONPROFIT ORGANIZATIONS LOAN PROGRAM. 32
	90	+	(G) “QUALIFYING ENERGY SYS TEM” MEANS A SYSTEM THAT: 28
95	91
96		-	(G) “QUALIFYING ENERGY SYS TEM” MEANS A SYSTEM THAT : 33 SENATE BILL 186 3
	92	+	(1) GENERATES ELECTRICIT Y OR USABLE THERMAL ENERGY THAT IS 29
	93	+	USED TO MEET ONSITE DEMAND; AND 30
	94	+	SENATE BILL 186 3
	95	+
	96	+
	97	+	(2) ASSISTS THE STATE IN MEETING THE ENVIRONMENTAL AN D 1
	98	+	GREENHOUSE GAS REDUC TION GOALS UNDER § 2–1205 OF THE ENVIRONMENT 2
	99	+	ARTICLE. 3
	100	+
	101	+	9–2102. 4
	102	+
	103	+	THERE IS A GREEN AND RENEWABLE ENERGY FOR NONPROFIT 5
	104	+	ORGANIZATIONS LOAN PROGRAM IN THE ADMINISTRATION . 6
	105	+
	106	+	9–2103. 7
	107	+
	108	+	THE PURPOSE OF THE PROGRAM IS TO PROVIDE FINANCIAL ASSISTANCE IN 8
	109	+	THE FORM OF NO–INTEREST LOANS TO NO NPROFIT ORGANIZATION S FOR THE 9
	110	+	PURCHASE AND INSTALL ATION OF QUALIFYING ENERGY SYSTEMS IN TH E STATE. 10
	111	+
	112	+	9–2104. 11
	113	+
	114	+	THE ADMINISTRATION SHALL : 12
	115	+
	116	+	(1) MANAGE, SUPERVISE, AND ADMINISTER THE PROGRAM; 13
	117	+
	118	+	(2) ADOPT REGULATIONS TO ENSURE THAT LOANS PR OVIDED TO 14
	119	+	NONPROFIT ORGANIZATI ONS CARRY OUT THE PU RPOSE OF THE PROGRAM; AND 15
	120	+
	121	+	(3) ATTACH SPECIFIC TERM S TO ANY LOAN THAT A RE CONSIDERED 16
	122	+	NECESSARY TO ENSURE THAT THE PURPOSE OF THE PROGRAM IS FULFILLED . 17
	123	+
	124	+	9–2105. 18
	125	+
	126	+	(A) (1) TO RECEIVE A LOAN UND ER THE PROGRAM, A BORROWER MUST 19
	127	+	FILE AN APPLICATION WITH THE ADMINISTRATION . 20
	128	+
	129	+	(2) THE APPLICATION MUST BE SIGNED BY THE CHI EF OPERATING 21
	130	+	OFFICER OR AN AUTHOR IZED OFFICER OF THE NONPROFIT ORGANIZATION . 22
	131	+
	132	+	(B) THE APPLICATION MUST CONTAIN ANY INFORMAT ION THE 23
	133	+	ADMINISTRATION DETERM INES IS NECESSARY , INCLUDING: 24
	134	+
	135	+	(1) THE PROJECTED COST O F THE QUALIFYING ENE RGY SYSTEM OR 25
	136	+	TECHNICAL ASSISTANCE BEING FINANCED THROU GH THE LOAN; 26
	137	+
	138	+	(2) THE LOCATION OF THE PROPERTY WHERE THE Q UALIFYING 27
	139	+	ENERGY SYSTEM WILL B E INSTALLED AND WHET HER THE PROPERTY IS OWNED OR 28 4 SENATE BILL 186
	140	+
	141	+
	142	+	LEASED BY THE APPLIC ANT; AND 1
	143	+
	144	+	(3) ANY ADDITIONAL INFOR MATION RELATING TO T HE BORROWER OR 2
	145	+	THE PROPOSED QUALIFY ING ENERGY SYSTEM BE ING FINANCED THROUGH THE 3
	146	+	LOAN THAT MAY BE REQ UIRED BY THE ADMINISTRATION IN ORD ER TO ADMINISTER 4
	147	+	THE PROGRAM. 5
	148	+
	149	+	(C) THE ADMINISTRATION MAY AP PROVE AN APPLICA TION FOR A LOAN 6
	150	+	UNDER § 9–2106(A)(1) OF THIS SUBTITLE ONLY IF THE APPLICATION 7
	151	+	DEMONSTRATES THAT TH E PROPOSED QUALIFYING ENERGY SYSTEM IS ESTIMATED , 8
	152	+	BASED ON PROJECTED E NERGY COSTS, TO GENERATE ENERGY C OST SAVINGS OVER 9
	153	+	THE USEFUL LIFE OF T HE SYSTEM THAT EQUAL OR EXCEED THE TOTAL AMORTIZED 10
	154	+	COST OF THE LOAN . 11
	155	+
	156	+	(D) IN APPROVING AN APPLI CATION, THE ADMINISTRATION S HALL 12
	157	+	CONSIDER AND GIVE PR IORITY TO AN APPLICA NT THAT HAS AN ANNUA L BUDGET OF 13
	158	+	$1,000,000 OR LESS. 14
	159	+
	160	+	9–2106. 15
	161	+
	162	+	(A) LOANS FROM THE FUND MAY BE USED FOR : 16
	163	+
	164	+	(1) THE PURCHASE AND INSTALL ATION OF A QUALIFYING ENERGY 17
	165	+	SYSTEM, INCLUDING ANY NECESSARY ANCILL ARY MACHINERY, EQUIPMENT, OR 18
	166	+	FURNISHINGS; AND 19
	167	+
	168	+	(2) TECHNICAL ASSISTANCE FOR THE PLANNING AND INSTALLATION 20
	169	+	OF A QUALIFYING ENER GY SYSTEM. 21
	170	+
	171	+	(B) EACH BORROWER FOR A LOAN UNDER SUB SECTION (A)(1) OF THIS 22
	172	+	SECTION SHALL CONTRIBUTE AT LEAST 10% OF THE COST OF THE QUALIFYING 23
	173	+	ENERGY SYSTEM . 24
	174	+
	175	+	(C) LOANS MADE UNDER THE PROGRAM SHALL BE REPA YABLE BY THE 25
	176	+	BORROWER IN ACCORDAN CE WITH A SCHEDULE T HAT THE ADMINISTRATION SETS , 26
	177	+	WHICH MAY BE ON A DE FERRED PAYMENT BASIS . 27
	178	+
	179	+	(D) (1) A BORROWER SHALL PROVI DE ASSURANCES FOR TH E 28
	180	+	REPAYMENT OF A LOAN . 29
	181	+
	182	+	(2) THE ASSURANCES : 30
	183	+
	184	+	(I) SHALL INCLUDE A PROM ISSORY NOTE; AND 31 SENATE BILL 186 5
97	185
98	186
99	187
100		-	(1) GENERATES ELE CTRICITY OR USABLE T HERMAL ENERGY THAT I S 1
101		-	USED TO MEET ONSITE DEMAND; AND 2
	188	+	(II) MAY INCLUDE A PLAN F OR REPAYMENT . 1
102	189
103		-	(2) ~~ASSISTS THE STATE~~ IN ~~MEETING THE ENVIRONMENTAL AND 3~~
104		-	~~GREENHOUSE GAS REDUC TION GOALS UNDER § 2–1205 OF THE ENVIRONMENT 4~~
105		-	~~ARTICLE~~. 5
	190	+	(E) LOANS MAY BE MADE IN CONJUNCTION WITH OR IN ADDITION TO 2
	191	+	FINANCIAL ASSISTANCE PROVIDED THROUGH OTH ER STATE OR FEDERAL 3
	192	+	PROGRAMS. 4
106	193
107		-	9–~~2102~~. 6
	194	+	9–2107. 5
108	195
109		-	THERE IS A GREEN AND RENEWABLE ENERGY FOR NONPROFIT 7
110		-	ORGANIZATIONS LOAN ~~PROGRAM IN THE ADMINISTRATION~~ . 8
	196	+	(A) THERE IS A GREEN AND RENEWABLE ENERGY FOR NONPROFIT 6
	197	+	ORGANIZATIONS LOAN FUND. 7
111	198
112		-	~~9–2103~~. 9
	199	+	(B) THE ADMINISTRATION SHALL ADMINISTER THE FUND. 8
113	200
114		-	THE PURPOSE OF THE PROGRAM IS TO PROVIDE FINANCIAL ASSISTANCE IN 10
115		-	THE FORM OF NO –INTEREST LOANS TO NO NPROFIT ORGANIZATION S FOR THE 11
116		-	PURCHASE AND INSTALL ATION OF QUALIFYING ENERGY SYST EMS IN THE STATE. 12
	201	+	(C) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 9
	202	+	SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 10
117	203
118		-	9–2104. 13
	204	+	(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY, 11
	205	+	AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 12
119	206
120		-	THE ~~ADMINISTRATION SHALL~~ : 14
	207	+	(D) THE FUND CONSISTS OF : 13
121	208
122		-	(1) ~~MANAGE, SUPERVISE,~~ ~~AND ADMINISTER~~ THE PROGRAM; 15
	209	+	(1) MONEY APPROPRIATED I N THE STATE BUDGET TO THE PROGRAM; 14
123	210
124		-	(2) ADOPT REGULATIONS TO ENSURE THAT LOANS PR OVIDED TO 16
125		-	NONPROFIT ORGANIZATI ONS CARRY OUT THE PU RPOSE OF THE PROGRAM; AND 17
	211	+	(2) MONEY RECEIVED FROM ANY PUBLIC OR PRIVATE SOURCE ; 15
126	212
127		-	(3) ATTACH SPECIFIC TERMS TO ANY LOAN TH AT ARE CONSIDERED 18
128		-	NECESSARY TO ENSURE THAT THE PURPOSE OF THE PROGRAM IS FULFILLED . 19
	213	+	(3) INTEREST AND INVESTM ENT EARNINGS O F THE FUND; AND 16
129	214
130		-	9–2105. 20
	215	+	(4) REPAYMENTS AND PREPA YMENTS ON LOANS MADE FROM THE 17
	216	+	FUND. 18
131	217
132		-	(A) (1) ~~TO RECEIVE A LOAN UND ER~~ THE ~~PROGRAM, A BORROWER MUST 21~~
133		-	~~FILE AN APPLICATION WITH~~ THE ~~ADMINISTRATION~~ . 22
	218	+	(E) (1) IN FISCAL YEAR 2025, THE GOVERNOR SHALL INCLUDE IN THE 19
	219	+	ANNUAL BUDGET BILL A N APPROPRIATION OF $5,000,000 FOR THE FUND. 20
134	220
135		-	(2) THE APPLICATION MUST BE SIGNED BY THE CHIEF OPER ATING 23
136		-	OFFICER OR AN AUTHOR IZED OFFICER OF THE NONPROFIT ORGANIZATI ON. 24
	221	+	(2) IN FISCAL YEAR 2026, THE GOVERNOR SHALL INCLUD E IN THE 21
	222	+	ANNUAL BUDGET BILL AN APPROPRIATION EQU AL TO AT LEAST $5,000,000 MINUS 22
	223	+	THE AMOUNT IN THE FUND AS OF JUNE 30 OF THE IMMEDIATE LY PRECEDING 23
	224	+	FISCAL YEAR. 24
137	225
138		-	(B) THE APPLICATION MUST CONTAIN ANY INFORMAT ION THE 25
139		-	ADMINISTRATION DETERM INES IS NECESSARY , INCLUDING: 26
	226	+	(F) THE FUND MAY BE USED ONLY: 25
140	227
141		-	(1) THE PROJECTED COST O F THE QUALIFYING ENE RGY SYSTEM OR 27
142		-	TECHNICAL ASSISTANCE BEING FINANCED THROU GH THE LOAN; 28
143		-	4 SENATE BILL 186
144		-
145		-
146		-	(2) THE LOCATION OF THE PROPERTY WHERE THE Q UALIFYING 1
147		-	ENERGY SYSTEM WILL B E INSTALLED AND WHET HER THE PROPERTY IS OWNED OR 2
148		-	LEASED BY THE APPLIC ANT; AND 3
149		-
150		-	(3) ANY ADDITIONAL INFOR MATION RELATING TO THE BORROWER OR 4
151		-	THE PROPOSED QUALIFY ING ENERGY SYSTEM BE ING FINANCED THROUGH THE 5
152		-	LOAN THAT MAY BE REQ UIRED BY THE ADMINISTRATION IN ORD ER TO ADMINISTER 6
153		-	THE PROGRAM. 7
154		-
155		-	(C) THE ADMINISTRATION MAY AP PROVE AN APPLICATION FOR A LOAN 8
156		-	UNDER § 9–2106(A)(1) OF THIS SUBTITLE ONLY IF T HE APPLICATION 9
157		-	DEMONSTRATES THAT TH E PROPOSED QUALIFYIN G ENERGY SYSTEM IS E STIMATED, 10
158		-	BASED ON PROJECTED E NERGY COSTS, TO GENERATE ENERGY C OST SAVINGS OVER 11
159		-	THE USEFUL LIFE OF T HE SYSTEM THAT EQUAL OR EXCEED THE TOTAL AMORTIZED 12
160		-	COST OF THE LOAN. 13
161		-
162		-	(D) IN APPROVING AN APPLI CATION, THE ADMINISTRATION SHALL 14
163		-	CONSIDER AND GIVE PR IORITY TO AN APPLICA NT THAT HAS AN ANNUA L BUDGET OF 15
164		-	$1,000,000 OR LESS. 16
165		-
166		-	9–2106. 17
167		-
168		-	(A) LOANS FROM THE FUND MAY BE USED FOR : 18
169		-
170		-	(1) THE PURCHASE AND INS TALLATION OF A QUALIFYING ENERGY 19
171		-	SYSTEM, INCLUDING ANY NECESS ARY ANCILLARY MACHIN ERY, EQUIPMENT, OR 20
172		-	FURNISHINGS; AND 21
173		-
174		-	(2) TECHNICAL ASSISTANCE FOR THE PLANNING AND INSTALLATION 22
175		-	OF A QUALIFYING ENER GY SYSTEM. 23
176		-
177		-	(B) EACH BORROWER FOR A L OAN UNDER SUBSECTION (A)(1) OF THIS 24
178		-	SECTION SHALL CONTRI BUTE AT LEAST 10% OF THE COST OF THE Q UALIFYING 25
179		-	ENERGY SYSTEM . 26
180		-
181		-	(C) LOANS MADE UNDER THE PROGRAM SHALL BE REPA YABLE BY THE 27
182		-	BORROWER IN ACCORDAN CE WITH A SCHEDULE T HAT THE ADMINISTRATION SETS , 28
183		-	WHICH MAY BE ON A DE FERRED PAYMENT BASIS . 29
184		-
185		-	(D) (1) A BORROWER SHALL PROVI DE ASSURANCES FOR TH E 30
186		-	REPAYMENT OF A LOAN . 31
187		-
188		-	(2) THE ASSURANCES : 32
189		-	SENATE BILL 186 5
190		-
191		-
192		-	(I) SHALL INCLUDE A PROM ISSORY NOTE; AND 1
193		-
194		-	(II) MAY INCLUDE A PLAN F OR REPAYMENT . 2
195		-
196		-	(E) LOANS MAY BE MADE IN CONJUNCTION WITH OR IN ADDITION TO 3
197		-	FINANCIAL ASSISTANCE PROVID ED THROUGH OTHER STATE OR FEDERAL 4
198		-	PROGRAMS. 5
199		-
200		-	9–2107. 6
201		-
202		-	(A) THERE IS A GREEN AND RENEWABLE ENERGY FOR NONPROFIT 7
203		-	ORGANIZATIONS LOAN FUND. 8
204		-
205		-	(B) THE ADMINISTRATION SHALL ADMINISTER THE FUND. 9
206		-
207		-	(C) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 10
208		-	SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 11
209		-
210		-	(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 12
211		-	AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 13
212		-
213		-	(D) THE FUND CONSISTS OF : 14
214		-
215		-	(1) MONEY APPROPRIATED I N THE STATE BUDGET TO THE PROGRAM; 15
216		-
217		-	(2) MONEY RECEIVED FROM ANY PUBLIC OR PRIVAT E SOURCE; 16
218		-
219		-	(3) INTEREST AND INVESTM ENT EARNINGS OF THE FUND; AND 17
220		-
221		-	(4) REPAYMENTS AND PREPA YMENTS ON LOANS MADE FROM THE 18
222		-	FUND. 19
223		-
224		-	(E) (1) IN FISCAL YEAR 2025, THE GOVERNOR SHALL MAY INCLUDE IN 20
225		-	THE ANNUAL BUDGET BI LL AN APPROPRIATION OF $5,000,000 FOR THE FUND. 21
226		-
227		-	(2) IN FISCAL YEAR 2026, THE GOVERNOR SHALL MAY INCLUDE IN 22
228		-	THE ANNUAL BUDGET BI LL AN APPROPRIATION EQUAL TO AT LEAST $5,000,000 23
229		-	MINUS THE AMOUNT IN THE FUND AS OF JUNE 30 OF THE IMMEDIATELY PREC EDING 24
230		-	FISCAL YEAR. 25
231		-
232		-	(F) THE FUND MAY BE USED ONLY : 26
233		-
234		-	(1) TO PAY THE EXPENSES OF THE PROGRAM; AND 27
	228	+	(1) TO PAY THE EXPENSES OF THE PROGRAM; AND 26
235	229		6 SENATE BILL 186
236	230
237	231
238	232		(2) TO PROVIDE LOANS TO ELIGIBLE BORROWERS UNDER THE 1
239	233		PROGRAM. 2
240	234
241	235		(G) (1) THE STATE TREASURER SHALL INVES T AND REINVEST THE 3
242	236		MONEY OF THE FUND IN THE SAME MANN ER AS OTHER STATE MONEY MAY BE 4
243	237		INVESTED. 5
244	238
245	239		(2) ANY INVESTMENT EARNIN GS OF THE FUND SHALL BE PAID IN TO 6
246	240		THE FUND. 7
247	241
248	242		(3) ANY REPAYMENT ON LOAN S MADE FROM THE FUND SHALL BE 8
249	243		PAID INTO THE FUND. 9
250	244
251	245		Article – State Finance and Procurement 10
252	246
253	247		6–226. 11
254	248
255	249		(a) (2) (i) Notwithstanding any other provision of law, and unless 12
256	250		inconsistent with a federal law, grant agreement, or other federal requirement or with the 13
257	251		terms of a gift or settlement agreement, net interest on all State money allocated by the 14
258	252		State Treasurer under this section to special funds or accounts, and otherwise entitled to 15
259	253		receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 16
260	254		Fund of the State. 17
261	255
262	256		(ii) The provisions of subparagraph (i) of this paragraph do not apply 18
263	257		to the following funds: 19
264	258
265	259		170. the Cannabis Public Health Fund; [and] 20
266	260
267	261		171. the Community Reinvestment and Repair Fund; AND 21
268	262
269	263		172. THE GREEN AND RENEWABLE ENERGY FOR 22
270	264		NONPROFIT ORGANIZATIONS LOAN FUND. 23
271	265
272	266		SECTION 2. AND BE IT FURTHER ENACTED, That, on or before July 1, 202 4, the 24
273	267		Maryland Energy Administration shall: 25
274	268
275	269		(1) establish an application process for loans made under the Green and 26
276	270		Renewable Energy for Nonprofit Organizations Loan Program in Title 9, Subtitle 21 of the 27
277	271		State Government Article, as enacted by Section 1 of this Act; 28
278	272
279	273		(2) set guidelines and considerations for application, selection, and 29
280	274		repayment that include: 30
281	275
282		-	(i) nonprofit organizations that own, rather than rent, their 31
283		-	buildings; 32 SENATE BILL 186 7
	276	+	(i) nonprofit organizations that own, rather than rent, their 31 SENATE BILL 186 7
284	277
285	278
	279	+	buildings; 1
286	280
287		-	(ii) property size and kilowatt–hours of energy used; 1
	281	+	(ii) property size and kilowatt–hours of energy used; 2
288	282
289		-	(iii) geographic diversity; 2
	283	+	(iii) geographic diversity; 3
290	284
291		-	(iv) ethnic and racial diversity; 3
	285	+	(iv) ethnic and racial diversity; 4
292	286
293		-	(v) economic diversity; 4
	287	+	(v) economic diversity; 5
294	288
295		-	(vi) nonprofit organization mission diversity; 5
	289	+	(vi) nonprofit organization mission diversity; 6
296	290
297		-	(vii) access to the borrower’s portion of the cost of the qualifying 6
298		-	energy system; and 7
	291	+	(vii) access to the borrower’s portion of the cost of the qualifying 7
	292	+	energy system; and 8
299	293
300		-	(viii) process and frequency of loan repayment; and 8
	294	+	(viii) process and frequency of loan repayment; and 9
301	295
302		-	(3) develop and implement an advertising campaign for the Green and 9
303		-	Renewable Energy for Nonprofit Organizations Loan Program. 10
	296	+	(3) develop and implement an advertising campaign for the Green and 10
	297	+	Renewable Energy for Nonprofit Organizations Loan Program. 11
304	298
305		-	SECTION 3. AND BE IT FURTHER ENACTED, That Section 1 of this Act shall take 11
306		-	effect July 1, 2024. 12
	299	+	SECTION 3. AND BE IT FURTHER ENACTED, That Section 1 of this Act shall take 12
	300	+	effect July 1, 2024. 13
307	301
308		-	SECTION 4. AND BE IT FURTHER ENACTED, That, except as provided in Section 13
309		-	3 of this Act, this Act shall take effect July 1, 2023. 14
	302	+	SECTION 4. AND BE IT FURTHER ENACTED, That, except as provided in Section 14
	303	+	3 of this Act, this Act shall take effect July 1, 2023. 15
310	304
311		-
312		-
313		-
314		-
315		-	Approved:
316		-	________________________________________________________________________________
317		-	Governor.
318		-	________________________________________________________________________________
319		-	President of the Senate.
320		-	________________________________________________________________________________
321		-	Speaker of the House of Delegates.