PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Energy and Environment.
Congressional Research Service
Version 00 · 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.
Showing the opening paragraphs of the official summary.
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.
People & committees
Rep. Van Hollen, Chris [D-MD-8] · D–MD
Legislative record
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Referred to the Subcommittee on Energy and Environment.
Referred to House Energy and Commerce
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.
Referred to House Ways and Means
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 15, 2025. Consult Congress.gov for the current record.
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