A bill to establish a Solar Energy Development Bank to provide long-term low-interest loans for the purchase and installation of solar energy equipment in commercial and residential buildings in the United States.
Solar Energy Bank Act - Creates a Government corporation to be known as the Solar Energy Development Bank to make long-term, low-interest loans to encourage the use of solar energy in commercial and residential dwellings. Establishes procedures governing the processing and approval of loan applications by the Bank.
Prohibits conflicts of interest, on the part of officers or employees of the Bank. Prohibits the Bank or its employees from utilizing the Solar Bank to finance political activities.
Imposes criminal penalties for the furnishing of false or misleading information by applicants for loans under this Act.
Declares that the Solar Bank and its assets shall be exempt by Federal, State, and local taxation.
Establishes a Solar Energy Fund in the Treasury of the United States to pay the expenses of the Bank. Authorizes the appropriation of $5,000,000,000 to the Fund.
Referred to House Committee on Banking, Finance and Urban Affairs.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
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