Protecting America's Economy from the Carbon Bubble Act of 2020
Latest action · Oct 21, 2020 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 21, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Protecting America's Economy from the Carbon Bubble Act of 2020
This bill prohibits certain financial companies (including bank holding companies, savings and loan holding companies, and insured depository institutions) from involvement in fossil fuel production. Prohibited activities include
- providing loans to and making investments in fossil fuel companies or projects,
- facilitating transactions that funds new fossil fuel production,
- securitizing assets that provide funds for new fossil fuel production, and
- entering into certain derivatives transactions related to new fossil fuel production.
Violators are subject to criminal and civil penalties.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Oct 21, 2020Introduced in Senate
- Oct 21, 2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Oct 21, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.