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 - Establishes 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 structures. Sets forth requirements for loan eligibility concerning the term and amount of the loan and necessary warranties for the solar energy systems covered by such loan.
Prohibits conflicts of interest on the part of officers or employees of the Bank.
Imposes criminal penalties for the furnishing of false or misleading information by applicants for loans under this Act.
Establishes a seven-member Advisory Board to make annual reports to Congress and the President on the operation of the program established by this Act.
Prohibits subsidy payments under this Act to any person who has received other Federal assistance for purchase and/or installation of energy systems similar to the solar systems assisted under this Act.
Reported to House from the Committee on Banking, Finance and Urban Affairs with amendment, H. Rept. 96-625.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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