Creates the hospital and multiple dwelling energy loan fund

This bill (A 1266) creates a state-funded loan program to help hospitals and multi-unit residential buildings (like apartment complexes) reduce energy costs through low-interest loans or interest rate reductions. Eligible projects must first undergo an energy audit and focus on efficiency upgrades or renewable technologies (e.g., solar, efficient HVAC). At least 60% of annual loan funds must support facilities in economically distressed areas, with loans capped at $100,000 and interest rate reductions up to 4% for up to 10 years. The program, managed by the New York State Energy Research and Development Authority, aims to lower operating costs for these facilities statewide.