S.1406 - A bill 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.115th Congress (2017-2018)
|Sponsor:||Sen. Murphy, Christopher [D-CT] (Introduced 06/22/2017)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 06/22/2017 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.1406 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (06/22/2017)
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.
The bill also establishes in the Treasury a revolving Green Bank Establishment Fund.