National Climate Bank Act
Latest action · Apr 27, 2021 Committee on Environment and Public Works Senate Subcommittee on Clean Air, Climate, and Nuclear Safety. Hearings held. With printed Hearing: S.Hrg. 117-21.
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.
- IntroducedFeb 8, 2021
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
National Climate Bank Act
This bill establishes and capitalizes a National Climate Bank. The independent, nonprofit bank must invest in clean energy technologies and infrastructure to reduce greenhouse gas emissions.
The national bank's investments and procurements division must seek to facilitate affordable investment and procurement, including in low-income communities and communities of color, in key project areas (e.g., renewable energy or climate resiliency measures).
The national bank's start-up division must support the creation of new green banks by states or other political subdivisions. The new banks must be public or nonprofit specialized finance entities that use finance tools to mitigate climate change. The national bank may provide financing for such entities.
In addition, the bank must explore the establishment of a cash for carbon program to remove greenhouse gas emissions from the power system. The program may use market mechanisms to expedite the retirement of carbon-intensive power generation facilities (e.g., coal-fired power generation facilities), acquire carbon assets for the purpose of reducing emissions, and invest in communities negatively affected by the loss of those facilities or assets.
Cosponsors 7
Members who signed on, in the order they did. Signatures ran from Feb 8, 2021 to Jul 22, 2021, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-HI | Brian Schatz | Original | Feb 8, 2021 |
| D-MD | Chris Van Hollen | Original | Feb 8, 2021 |
| D-NM | Martin Heinrich | Original | Feb 8, 2021 |
| D-CT | Richard Blumenthal | Original | Feb 8, 2021 |
| D-MI | Debbie Stabenow | Feb 24, 2021 | |
| D-NJ | Cory A. Booker | Jun 16, 2021 | |
| D-MA | Elizabeth Warren | Jul 22, 2021 |
Actions 3
Everything that happened, newest first.
- Apr 27, 2021Committee on Environment and Public Works Senate Subcommittee on Clean Air, Climate, and Nuclear Safety. Hearings held. With printed Hearing: S.Hrg. 117-21.
- Feb 8, 2021Introduced in Senate
- Feb 8, 2021Read twice and referred to the Committee on Environment and Public Works.
Subjects
Assigned by the Library of Congress. Policy area: Environmental Protection.
- Advisory bodies
- Air quality
- Alternative and renewable resources
- Business investment and capital
- Climate change and greenhouse gases
- Community life and organization
- Consumer credit
- Credit and credit markets
- Electric power generation and transmission
- Energy efficiency and conservation
- Energy storage, supplies, demand
- Environmental health
- Environmental Protection
- Environmental regulatory procedures
- Environmental technology
- Financial services and investments
- Forests, forestry, trees
- Hybrid, electric, and advanced technology vehicles
- Industrial facilities
- Labor standards
- Labor-management relations
- Poverty and welfare assistance
- Public contracts and procurement
- Public transit
- Public utilities and utility rates
- Rural conditions and development
- Social work, volunteer service, charitable organizations
- Transportation costs
- Wages and earnings
- Water quality
- Water use and supply
Text 1
Each version as it was printed, newest first.
- Feb 8, 2021Introduced 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.