Solar Energy and Energy Conservation Bank Reauthorization Act of 1985

[AI summary unavailable — showing source text] Solar Energy and Energy Conservation Bank Reauthorization Act of 1985 - Title I: Reauthorization of Bank - Amends the Solar Energy and Energy Conservation Bank Act to extend the life of the Solar Energy and Energy Conservation Bank until September 30, 1991. (Under current law, the Bank will cease to exist after September 30, 1987.) Requires that 25 percent of the payments by the Bank to financial institutions to provide financial assistance for the installation of solar energy systems in residential, commercial, and agricultural buildings be allocated for active solar energy. Requires an equitable distribution of financial assistance between residential and multifamily residential buildings. Permits all financial institutions to apply directly to the Bank for financial assistance. Authorizes appropriations for FY 1986 through 1991 for the financial assistance program under the Solar Energy and Energy Conservation Bank Act for the purchase and installation of residential and commercial energy conserving improvements and solar energy systems. Amends the Federal National Mortgage Association Charter Act to eliminate the condition under which the Board of the Bank would not exercise it…