Solar Energy Development Bank Act

[AI summary unavailable — showing source text] Solar Energy Development Bank Act - Establishes a Government corporation within the Department of Housing and Urban Development to be known as the Solar Energy Development Bank to make below-market interest rate loans to promote the use of solar energy in commercial and residential structures. Provides for a presidentially-appointed President of the Bank. Requires the General Accounting Office to periodically audit the Bank's financial transactions. Authorizes the Bank to impose fees for its services. Provides that the Bank shall be governed by a Board of Directors and sets forth the powers and duties of such Board, including the power to fix the level of subsidy on loans and interest rates. Prohibits specified conflicts of interest on the part of officers or employees of the Bank. Establishes an Advisory Board to make annual reports to Congress and the President on the operation of the program established by this Act. Sets forth requirements for loan eligibility concerning the term and amount of the loan and necessary warranties for the solar energy systems covered by such loan. Authorizes the making of such loan subsidies to units of local government on behalf of low-income perso…