Chapter 21A of the General Laws is hereby amended by inserting the following section:-

Section 29. 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 Executive Office of Energy and Environmental Affairs, in consultation with the Department of Energy Resources, the Massachusetts Clean Energy Technology Center, the Governor’s Office of Climate Innovation and Resilience, the Executive Office of Housing and Livable Communities, the Massachusetts School Building Authority, the Executive Office of Economic Development, the Massachusetts Housing Partnership Fund Board, and the Massachusetts Development Finance Agency, who shall expend the funds for costs associated with the renovation of existing buildings including Affordable housing as defined by section 38D of chapter 121B, , homes rented or owned by low or moderate income households as defined by section 38D of chapter 121B, 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 or moderate income homes, public schools, and other buildings located in: (i) environmental justice communities, as defined in section 62 of chapter 30 and (ii) gateway cities, provided, however, that monies deposited in said fund shall, to the maximum extent feasible, be allocated and spent through existing programs supporting the aforementioned decarbonization activities.. ( 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 29 of Chapter 21A of the General Laws, to support the renovation of existing buildings including affordable housing; homes of low or moderate income households; municipal buildings, including, but not limited to, public schools; and small businesses with Massachusetts State Supplier Diversity Office Certifications, provided, however, that funds in this item shall be administered by the Executive Office of Energy and Environmental Affairs, in consultation with the Department of Energy Resources, the Massachusetts Clean Energy Technology Center, the Governor’s Office of Climate Innovation and Resilience, the Executive Office of Housing and Livable Communities, the Massachusetts School Building Authority, the Executive Office of Economic Development, the Massachusetts Housing Partnership Fund Board, and the Massachusetts Development Finance Agency, 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