S. 4835 · 116th Congress
Protecting America's Economy from the Carbon Bubble Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MerkleySponsorNo cosponsors.
Protecting America's Economy from the Carbon Bubble Act of 2020
What it does: CRS summary · Introduced in Senate · Oct 21, 2020
Protecting America's Economy from the Carbon Bubble Act of 2020
This bill prohibits certain financial companies (including bank holding companies, savings and loan holding companies, and insured depository institutions) from involvement in fossil fuel production. Prohibited activities include
- providing loans to and making investments in fossil fuel companies or projects,
- facilitating transactions that funds new fossil fuel production,
- securitizing assets that provide funds for new fossil fuel production, and
- entering into certain derivatives transactions related to new fossil fuel production.
Violators are subject to criminal and civil penalties.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Protecting America's Economy from the Carbon Bubble Act of 2020
Latest action (Oct 21, 2020): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Oct 21, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.