US HB4522 | 2013-2014 | 113th Congress
Status
Spectrum: Partisan Bill (Democrat 12-0)
Status: Introduced on April 30 2014 - 25% progression, died in committee
Action: 2014-05-02 - Referred to the Subcommittee on Energy and Power.
Pending: House Subcommittee on Energy and Power Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 30 2014 - 25% progression, died in committee
Action: 2014-05-02 - Referred to the Subcommittee on Energy and Power.
Pending: House Subcommittee on Energy and Power Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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 in order to provide the Bank with an initial capitalization of $10 billion and to provide additional capitalization of up to $50 billion upon request of the Bank. Requires the Bank to establish a program to provide financial support or risk management for qualifying clean energy or energy efficiency projects. Authorizes the Bank to provide funding for low-interest loans to establish state clean energy financing institutions and to co-fund the projects with an institution. Gives the Bank immunity from impairment, limitations, or restrictions under laws. 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. Amends the Internal Revenue Code to limit and defer tax deduction amounts for foreign-related interest expense (i.e., interest expense allocated and apportioned to income from sources outside the United States).
Title
To establish the Green Bank to assist in the financing of qualified clean energy projects and qualified energy efficiency projects.
Sponsors
Sen. Chris Van Hollen [D-MD] | Rep. Earl Blumenauer [D-OR] | Rep. Matthew Cartwright [D-PA] | Rep. Gerald Connolly [D-VA] |
Rep. Joe Courtney [D-CT] | Rep. Elizabeth Esty [D-CT] | Rep. James Himes [D-CT] | Rep. James Langevin [D-RI] |
Rep. James Moran [D-VA] | Rep. Eleanor Norton [D-DC] | Rep. Robert Scott [D-VA] | Rep. Louise Slaughter [D-NY] |
History
Date | Chamber | Action |
---|---|---|
2014-05-02 | House | Referred to the Subcommittee on Energy and Power. |
2014-04-30 | House | Referred to House Energy and Commerce |
2014-04-30 | House | Referred to House Ways and Means |
2014-04-30 | House | 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. |
Same As/Similar To
SB2271 (Same As) 2014-04-30 - Read twice and referred to the Committee on Finance.
Subjects
Air quality
Alternative and renewable resources
Bank accounts, deposits, capital
Climate change and greenhouse gases
Electric power generation and transmission
Energy
Energy efficiency and conservation
Energy storage, supplies, demand
Foreign and international corporations
Government corporations and government-sponsored enterprises
Income tax deductions
Interest, dividends, interest rates
Lighting and heating
Motor fuels
Nuclear power
Securities
State and local finance
Taxation of foreign income
User charges and fees
Alternative and renewable resources
Bank accounts, deposits, capital
Climate change and greenhouse gases
Electric power generation and transmission
Energy
Energy efficiency and conservation
Energy storage, supplies, demand
Foreign and international corporations
Government corporations and government-sponsored enterprises
Income tax deductions
Interest, dividends, interest rates
Lighting and heating
Motor fuels
Nuclear power
Securities
State and local finance
Taxation of foreign income
User charges and fees
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/113th-congress/house-bill/4522/all-info |
Text | https://www.congress.gov/113/bills/hr4522/BILLS-113hr4522ih.pdf |