This bill authorizes the Department of Natural Resources and Conservation (DNRC) to provide loans for various renewable resource projects, with a total loan amount not exceeding $121,198,444. The loans will be funded through coal severance tax bonds, which are to be issued by the board of examiners. The interest rate for these loans is set at 3.0% or the rate at which the state bonds are sold, whichever is lower, and the loans can be repaid over a period of up to 30 years. The bill also reauthorizes certain renewable resource projects that were previously approved but may not meet the necessary requirements to obtain funding by June 30, 2025.

Additionally, the bill outlines specific conditions for loan disbursement, including the approval of project scopes and budgets by the DNRC, documented commitments of other funding, and the execution of loan agreements. It establishes appropriations for any state government entity receiving a loan and requires a two-thirds legislative vote for the creation of state debt associated with the coal severance tax bonds. The bill also mandates notification to tribal governments and includes a severability clause to ensure that if any part of the act is invalidated, the remaining provisions will still be effective. The act is set to take effect on July 1, 2025.