H.R. 1698 · 111th Congress
To establish the Green Bank to assist in the financing of qualified clean energy projects and qualified…
Full title
To establish the Green Bank to assist in the financing of qualified clean energy projects and qualified energy efficiency projects.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
Van HollenSponsor5 cosponsors · 5 D
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Establishes the Green Bank as a federally owned independent corporation with a 20-year charter. Requires the Secretary of the Treasury to issue Green Bonds to acquire the Bank's capital stock.
What it does: CRS summary · Introduced in House · Mar 24, 2009
Establishes the Green Bank as a federally owned independent corporation with a 20-year charter. Requires the Secretary of the Treasury to issue Green Bonds to acquire the Bank's capital stock.
Requires the Bank to establish a program to provide, on a competitive basis, loans, loan guarantees, debt securitization, insurance, portfolio insurance, and other forms of financing support or risk management for qualifying clean energy or energy efficiency projects. Sets forth requirements for the provision of financial support from the Bank.
Requires the Bank to assess reasonable fees on its activities to cover its costs and expenses, provided the Bank operates as a not-for-profit.
Gives the Bank immunity from impairment, limitations, or restrictions by or under laws and administrative or other action. Authorizes the Bank to conduct its business without regard to state law relating to incorporation.
Exempts the Bank from all state or local taxation except real property taxation.
Requires the Chief Executive Officer of the Bank to set forth spending safeguards, including: (1) deobligating financial support to entities that demonstrate an insufficient level of performance or wasteful or fraudulent spending; and (2) creating a publicly available online database with information about financing support or risk management.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To establish the Green Bank to assist in the financing of qualified clean energy projects and qualified energy efficiency projects.
Latest action (Mar 25, 2009): Referred to the Subcommittee on Energy and Environment.
Policy area: Energy · Origin: House · Introduced: Mar 24, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.