Additional financing mechanisms to support Minnesota Climate Innovation Financing Authority activities provided.

This bill expands the powers of Minnesota's Climate Innovation Financing Authority by allowing it to borrow money, sell financial instruments like notes and mortgages, and accept gifts or grants to fund climate projects. The legislation requires the authority to prioritize financing for greenhouse gas emission reduction projects across all regions of the state while coordinating with existing federal and state programs to avoid duplication. Key provisions include authority duties to develop eligibility standards, implement consumer protections, measure project impacts on low-income communities, and hire staff who reflect the communities they serve. The bill also mandates the authority to leverage private investment and stimulate demand through partnerships and targeted marketing strategies.