This bill authorizes the Department of Natural Resources and Conservation (DNRC) to provide loans for various renewable resource projects, with specific loan amounts and interest rates outlined for each project. The interest rate for these loans is set at 3.0% or the rate at which state bonds are sold, whichever is lower, for a term of up to 30 years. The bill lists several projects, including dam rehabilitations and irrigation district improvements, with total loan amounts reaching over $121 million. Additionally, it reauthorizes certain projects that were previously approved but did not meet the necessary requirements to secure funding by the deadline.

Furthermore, the bill authorizes the issuance of coal severance tax bonds to finance these projects, with a total bond issuance limit of $121,198,444 for the biennium beginning July 1, 2025. It establishes conditions for loan disbursement, including project approval and documented funding commitments, and allows for the private purchase of loans by the DNRC. The bill also includes provisions for the management of bond proceeds and the allocation of earnings, as well as a requirement for a two-thirds legislative vote due to the creation of state debt. The act is set to take effect on July 1, 2025.