The bill would direct the Treasury Secretary to issue Clean Energy Victory Bonds within six months of enactment. The bonds would be available in denominations of $25 and other amounts set by the Secretary, with an annual total face amount capped at $50 billion. Bond proceeds would go into a trust fund for clean energy projects, including energy efficiency upgrades, renewable energy, grid improvements, research, and zero-emission vehicle infrastructure. At least 40% of yearly spending would go to projects in disadvantaged and vulnerable communities that also reduce energy rates. The bill has been introduced and referred to House committees for consideration.
Individuals could choose to purchase the bonds. The Treasury would set their terms and interest rate. The trust fund could support clean energy projects at the federal, state, and local levels, with a required share directed to eligible communities.
The bill caps the bonds' total face amount at $50 billion per year. The Treasury would pay bond principal and interest from its general fund, backed by the full faith and credit of the United States. The bill does not provide a specific interest rate or total cost; the Secretary would determine the rate and bond maturity periods.
The bill's findings state that clean energy investment could reduce emissions, support jobs, improve energy security, and provide economic benefits. They describe bonds as a voluntary way for people to contribute to clean energy investment.
No publicly available information.