S.1528 - 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.116th Congress (2019-2020) |
|Sponsor:||Sen. Murphy, Christopher [D-CT] (Introduced 05/16/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 05/16/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1528 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (05/16/2019)
This bill establishes a U.S. Green Bank to finance climate change mitigation and adaptation projects at the state and local level by capitalizing regional, state, and municipal green banks.
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.