Maryland Strategic Energy Investment Fund - Uses - Cooperative Housing Corporations and Condominiums (Co-Op and Condo Energy Refund Equity Act)

SB 434 ensures cooperative housing corporations and condominium owners in Maryland receive energy cost refunds directly through their governing bodies (boards or associations), rather than as individual customer credits. The bill requires electric companies to issue refunds to these governing bodies, which then distribute funds to individual members, mirroring how refunds are handled for other residential customers. These refunds, funded by compliance fees in the Maryland Strategic Energy Investment Fund, are distributed equally between peak summer and winter months for fiscal year 2027. The policy applies to members who did not receive prior refunds under 2025 legislation and operates in addition to existing energy relief programs.