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S. 1406: A bill to amend title 31, United States Code, to provide for the issuance of Green Bonds and to establish the United States Green Bank, and for other purposes.

We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jun 22, 2017.

This bill establishes a U.S. Green Bank that provides financial support to assist regional, state, and local institutions finance: (1) clean energy (e.g., solar or wind energy) projects, or (2) energy efficiency projects that reduce energy use or substantially reduce greenhouse gas emissions.

The Department of the Treasury must issue green bonds to provide the bank with: (1) an initial capitalization of $10 billion; and (2) additional capitalization, upon the bank's request, of no more than $50 billion in aggregate at any one time.

The bill also establishes in the Treasury a revolving Green Bank Establishment Fund.