The bill directs the Treasury Secretary to issue Clean Energy Victory Bonds within six months of enactment. The bonds would be savings bonds, available in denominations starting at $25, with annual issuance capped at $50 billion. Money raised would go to a trust fund for clean energy projects, including energy efficiency upgrades, renewable power, grid improvements, research, and zero-emission vehicle infrastructure. At least 40% of yearly spending must support projects in disadvantaged and vulnerable communities that reduce energy rates there. The Treasury would repay bond principal and interest from the general fund.
People could buy the bonds, and the Treasury would promote their sale. The money could support clean energy projects at the federal, state, and local levels. The bill does not specify which individual projects would receive funding.
The bill sets an annual limit of $50 billion in bonds. Interest would be based on rates for Series EE and Series I savings bonds, plus a return tied to federal energy savings and interest from financed or guaranteed loans. The text does not estimate total expenses. No publicly available information.
The bill’s findings say bond sales could help expand clean energy, create jobs, reduce greenhouse gas emissions, and lessen dependence on foreign oil. They also describe bonds as a voluntary way for people to contribute. These are statements in the bill’s findings, not guaranteed results.
No publicly available information.