Skip to main content
HR 4522 113th Congress House Energy Air quality Alternative and renewable resources Bank accounts, deposits, capital Climate change and greenhouse gases Electric power generation and transmission 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, heating, cooling Motor fuels Nuclear power Securities State and local finance Taxation of foreign income User charges and fees

To establish the Green Bank to assist in the financing of qualified clean energy projects and qualified energy efficiency projects.

Introduced: April 30, 2014 Introduced by: Van Hollen, Chris Democratic · Maryland See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 2, 2014
Referred to the Subcommittee on Energy and Power.
Apr 30, 2014
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.
Apr 30, 2014
Introduced in House
 Plain-English summary Congressional Research Service

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).

What's happening now May 2, 2014

Referred to the Subcommittee on Energy and Power.

 Committees of jurisdiction 3
 Cosponsors 4
All 4 Democratic 4