Home Energy Efficiency Loan Fund

Act 1 of 2008 (Sp. Sess. 1), § 605, under ALTERNATIVE ENERGY INVESTMENT ACT.

Act 1 of 2008 (Sp. Sess. 1), § 605

Section 605. Home Energy Efficiency Loan Fund.

(a) Establishment.--Money transferred to the agency under section 503(2) shall be deposited into a restricted receipts account to be known as the Home Energy Efficiency Loan Fund and used in association with loans awarded by the agency under this program.

(b) Revolving loan fund.--Proceeds of bonds issued to fund the loans authorized under this chapter and any moneys received as loan repayments, or moneys otherwise made available to the fund, shall be deposited in the fund and made available for additional loans. No more than 1% of the funds may be used for reasonable administrative costs.