Maryland Strategic Energy Investment Fund - Uses - Cooperative Housing Corporations and Condominiums (Co-Op and Condo Energy Refund Equity Act)

HB 702 directs that a portion of the Maryland Strategic Energy Investment Fund - funded by compliance fees paid by electric companies - be used to provide energy bill refunds for members of cooperative housing corporations and condominium unit owners in 2027. These refunds specifically target residents who did not receive a similar refund in 2025 under prior legislation. The refunds must be issued to the co-op or condo board, which then distributes them to individual residents, with half paid during a peak summer month and half during a peak winter month. This ensures co-op and condo residents receive equitable energy cost relief previously available to other residential customers.