3354

VETOES

(VI)  CAULKING OR WEATHERSTRIPPING OF AN
EXTERIOR DOOR OR WINDOW;

(VII)  A METER WHICH DISPLAYS THE COST OF
ENERGY USAGE; OR

(VIII)  AN ITEM OF THE KIND WHICH THE
SECRETARY SPECIFIES BY REGULATION AS INCREASING THE ENERGY
EFFICIENCY OF THE DWELLING.

(C)  "PROGRAM" MEANS THE ENERGY SAVING DEVICE LOAN
PROGRAM.

(D)  "SECRETARY" MEANS THE SECRETARY OF THE DEPARTMENT
OF ECONOMIC AND COMMUNITY DEVELOPMENT.

257L-2.

THERE IS THE ENERGY SAVING DEVICE LOAN PROGRAM IN THE
DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT.

257L-3.

(A)  IN ADDITION TO THE DUTIES SET FORTH ELSEWHERE IN
THIS SUBHEADING, THE SECRETARY SHALL:

(1)  MANAGE AND SUPERVISE THE PROGRAM FOR THE
PURPOSE OF MAKING LOANS AT A PREFERRED RATE OF INTEREST TO
QUALIFIED RESIDENTIAL PROPERTY OWNERS FOR THE PURCHASE OR
INSTALLATION OF ENERGY SAVING DEVICES;

(2)  USE ANY FEDERAL PROGRAM THAT COMPLEMENTS OR
FACILITATES THE MAKING OF LOANS;

(3)  ALLOCATE FUNDS WITHIN THE STATE TO INSURE
THAT ALL AREAS ARE SERVED APPROPRIATELY; AND

(4)  IN ESTABLISHING AN INTEREST RATE FROM TIME
TO TIME FOR THE PROGRAM; TAKE INTO ACCOUNT ALL THE EXPENSES
OF THE PROGRAM, INCLUDING INTEREST PAID BY THE STATE ON
BONDS USED TO FUND THE PROGRAM, ADMINISTRATIVE EXPENSES OF
THE PROGRAM, AND POSSIBLE LOSSES.

(B)  IN ADDITION TO THE POWERS SET FORTH ELSEWHERE IN
THIS SUBHEADING, THE SECRETARY MAY:

(1)  MAKE DIRECT LOANS TO QUALIFYING RESIDENTIAL
PROPERTY OWNERS AT AN INTEREST RATE THAT WILL MAKE THE
PROGRAM SELF-SUPPORTING;

(2)  COLLECT A UNIFORM APPLICATION FEE AND RETAIN
FROM IT ANY AMOUNTS NOT EXPENDED FOR CREDIT REPORTS,
APPRAISALS, AND OTHER EXPENSES OF PROCESSING LOAN
APPLICATIONS;