H.R.5802 - To amend title 31, United States Code, to provide for the issuance of Green Bonds and to establish the United States Green Bank, and for other purposes.114th Congress (2015-2016)
|Sponsor:||Rep. Van Hollen, Chris [D-MD-8] (Introduced 07/14/2016)|
|Committees:||House - Ways and Means; Energy and Commerce|
|Latest Action:||House - 07/14/2016 Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
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Summary: H.R.5802 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (07/14/2016)
This bill establishes a U.S. Green Bank that provides financial support to assist regional, state, and local institutions finance: (1) clean energy (e.g. solar or wind energy) projects, or (2) energy efficiency projects that reduce energy use or substantially reduce greenhouse gas emissions.
The Department of the Treasury must issue Green Bonds to provide the bank with: (1) an initial capitalization of $10 billion; and (2) additional capitalization, upon the bank's request, of no more than $50 billion in aggregate at any one time.
Treasury must also establish a revolving Green Bank Establishment Fund.