Geothermal heat exchange system rebate program establishment and appropriation

This bill establishes a state rebate program for commercial and multifamily buildings installing geothermal heating and cooling systems. Eligible applicants (including businesses, nonprofits, and government entities) must have applied for federal rebates under the Inflation Reduction Act, complete a certified energy audit, and provide installation documentation. Rebates cover up to 15% of system costs or net costs after other funding, capped at $100,000 per project. Priority is given to nonprofit or government-owned low-income housing projects meeting specific affordability criteria.