Bill would create green loan fund to help nonprofits finance solar and efficiency upgrades

Senator Cheryl Kagan presented Senate Bill 23 on April 2, 2026, proposing a revolving loan fund to enable nonprofits to pursue renewable energy and efficiency upgrades. Kagan told the House Environment and Transportation Committee that tax credits commonly used to finance such projects are less accessible to nonprofits because they are tax-exempt, and that a revolving loan would let a nonprofit contribute about 10% of project costs while the fund covers the balance.

The sponsor highlighted intended beneficiaries—battered-women shelters, homeless shelters, food pantries and similar organizations—and emphasized that reduced energy bills would make repayment manageable while preserving funds for mission services. During brief questioning, members raised alternative mechanisms used historically (credit transfer schemes) and asked whether the committee preferred advancing the bill given parallel provisions incorporated into an energy package; Kagan welcomed that the bill might be held as backup if it is subsumed in conference committee negotiations.

Kagan asked for a favorable report; no formal vote was taken at the hearing.