An Act To Authorize A General Fund Bond Issue To Establish The School Energy Savings Revolving Loan Fund

LD 826 authorizes a $10 million bond issue to create the School Energy Savings Revolving Loan Fund, which requires voter approval via referendum. The fund, administered by the Department of Education, provides low-interest loans (ranging from $50,000 to $1,000,000) to Maine school districts for energy efficiency projects like equipment upgrades, insulation, and building envelope improvements. Repaid loans replenish the fund, creating a revolving resource for future school energy investments. The bonds must be issued within 5 years of voter approval, with unused funds lapsing after 10 years to retire other state debt. This bill directly affects public school districts seeking to reduce energy costs through infrastructure improvements.