42 U.S.C. § 5511a : US Code - Section 5511A: Solar Assistance Financing Entity

Search 42 U.S.C. § 5511a : US Code - Section 5511A: Solar Assistance Financing Entity

(a) Establishment
The Secretary of Housing and Urban Development shall establish
within the Department of Housing and Urban Development the Solar
Assistance Financing Entity (in this section referred to as the
"Entity").
(b) Purpose
The purpose of the Entity shall be to assist in financing solar
and renewable energy capital investments and projects for eligible
buildings under subsection (c) of this section.
(c) Eligible buildings
The Entity may provide assistance under this section only for the
following buildings:
(1) Single family housing
Any building consisting of 1 to 4 dwelling units that has a
system for heating or cooling, or both.
(2) Multifamily housing
Any building consisting of more than 4 dwelling units that has
a system for heating or cooling, or both.
(3) Commercial buildings
Any building used primarily to carry on a business (including
any nonprofit business) that is not used primarily for the
manufacture or production of raw materials, products, or
agricultural commodities.
(4) Schools, hospitals, and agricultural buildings
Any school, any hospital, and any building used exclusively in
connection with the harvesting, storage, or drying of
agricultural commodities.
(5) Other buildings
Any other building of a type that the Entity considers
appropriate.
(d) Financing options
Assistance provided under this section by the Entity may be
provided only for programs for financing solar and renewable energy
capital investments and projects, which may include programs for
making loans, making grants, reducing the principal obligations of
loans, prepayment of interest on loans, purchase and sale of loans
and advances of credit, providing loan guarantees, providing loan
downpayment assistance, and providing rebates and other incentives
for the purchase and installation of solar and renewable energy
measures.
(e) Authority to leverage other funds
The Entity may encourage or require programs receiving assistance
under this section to supplement the assistance received under this
section with amounts from other public and private sources, and, in
making assistance under this section available, may give preference
to programs that leverage amounts from such other sources.
(f) Provision of assistance
The Entity shall provide assistance under this section through
State agencies responsible for developing State energy conservation
plans pursuant to section 6322 of this title, or any other entity
or agency authorized to specifically carry out the purposes of this
section.
(g) Regulations
Not later than the expiration of the 12-month period beginning on
October 28, 1992, the Secretary of Housing and Urban Development,
in consultation with the Secretary of Energy, shall issue any
regulations necessary to carry out this section, which shall ensure
maximum flexibility in utilizing amounts made available under this
section.
(h) Authorization of appropriations
There are authorized to be appropriated to carry out this section
$10,000,000 for fiscal year 1993 and $10,420,000 for fiscal year
1994. Such sums are to be available until expended.