Chapter 23J of the General Laws is hereby amended by inserting the following section:

Section XXXX. There shall be established and set up on the books of the commonwealth a fund to be known as the Zero Carbon Renovation Fund that shall be administered by the Massachusetts Clean Energy Technology Center in consultation with the Department of Energy Resources, who shall expend the funds for costs associated with the renovation of existing buildings including affordable housing, public housing, homes rented or owned by low and moderate income households, municipal buildings, including, but not limited to, public schools, and small businesses with Massachusetts State Supplier Diversity Office Certifications to conduct “Zero Carbon Renovations'' so that these buildings shall, to the maximum extent practicable: (i) be highly energy efficient: (ii) use all-electric heating, hot water, and cooking technologies; (iii)  include on-site renewable energy generating sources; and (iv) be renovated with low-embodied carbon materials. Funds may also be expended as necessary for costs associated with the remediation of existing building conditions which must be addressed before a Zero Carbon Renovation can be completed.  Such remediations may include but not be limited to mitigation of mold, asbestos, insect and animal infestation, lead paint, electric system upgrades to meet current code or facilitate building electrification, accessibility upgrades required for compliance with the Americans with Disabilities Act, and remediation of any structural issues related to accommodating the Zero Carbon Renovation. Said fund shall be available to buildings throughout the commonwealth, while prioritizing affordable housing and low-to-moderate income homes, public schools, and other buildings located in: (i) environmental justice communities, as defined in section 62 of chapter 30, (ii) gateway cities, and (iii) communities disproportionately impacted by COVID 19, provided that said funds shall be expended in a manner that provides for geographic equity, and prioritizes interventions in a representative sample of building typologies present in the commonwealth. There shall be credited to the fund all amounts that are transferred, or authorized to be transferred thereto, or directed to be deposited therein, and all amounts received as gifts, grants, or contributions for the purposes of the fund. Any money remaining in the fund at the close of a fiscal year shall not revert to the General Fund, but shall remain available for expenditure in subsequent fiscal years.

XXXX-XXXX For a reserve, as established in Section XX of Chapter 23J of the General Laws, to support the renovation of existing buildings including affordable housing, public housing, homes of low- and moderate-income households, and municipal buildings, including, but not limited to, public schools, and small businesses with Massachusetts State Supplier Diversity Office Certifications, provided, that funds in this item shall be administered by the Massachusetts Clean Energy Technology Center for Zero Carbon Renovations; provided further that not less than $300,000,000 shall be transferred to the Zero Carbon Renovation Fund …………$300,000,000