HF1598

This bill establishes the Air Ventilation Improvement and Geothermal Infrastructure for Schools Financing Program in the Minnesota Climate Innovative Finance Authority. The program aims to provide low-interest financing to school districts for projects improving air ventilation and installing geothermal energy systems in or near school buildings.

Key Provisions:

1. Priority Goals:
   The program will prioritize:

   • Schools in high-poverty areas based on federal Title I funding.
   • An equal number of projects inside and outside the seven-county metropolitan area.
   • Financial support to reduce upfront and total costs of implementation.
     
   • Ensuring consumer protections to provide responsible and transparent financial aid.

2. Eligibility:

   • Independent school districts
     
   • Special school districts
     
   • Cooperative units
     

3. Funding and Appropriations:

   • Funds will come from the general fund and the renewable development account in fiscal year 2026.
     
   • Unused funds will expire and return to the original accounts by June 30, 2027.

This bill is focused on helping schools modernize their infrastructure for better indoor air quality and clean energy while leveraging both public and private funding sources.