Solar Energy Bank Act

Summary

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 Board of Directors to manage the operation of the program established by this Act. Establishes a Solar Energy Fund to fulfill the obligations of the Solar Energy Bank and authorizes the appropriation of $5,000,000,000 to such fund.

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1 official file

• Introduced in House

  summary · EN · 22 February 1979

  Open at official source

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