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DIGEST OF INTRODUCED BILL
Green building demonstration projects. Requires the Indiana office of energy development to establish a program for making four demonstration grants to encourage energy efficient construction or rehabilitation. Provides that the demonstration projects must be for the construction or rehabilitation of a building by a public school corporation and a building by a public institution of higher education and the construction of a primary residence and the rehabilitation of a primary residence that are supported by a city or town. Requires an applicant to verify that the applicant's project will generate private spending in the community, create jobs that are not directly created by the project, and result in increased state and local tax revenue. Establishes the amount of each grant amount as the amount necessary to reduce the annual percentage rate for the borrowing necessary to complete the project by one percent. Provides that the office shall use money available to it under the American Recovery and Reinvestment Act of 2009 to make the grants.