United States 113th Congress Status: Died 1 D cosponsors

S 2271 — A bill to establish the Green Bank to assist in the financing of qualified clean energy projects and qualified energy efficiency projects.

Last action — Read twice and referred to the Committee on Finance.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

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).

Bill Text

We don't have the full text on file for this bill yet.

Read S 2271 on the official United States source →

Action History

  1. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation energy
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Frequently asked questions

What does S 2271 do?
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).
Who sponsors S 2271?
S 2271 is sponsored by Christopher Murphy (D).
What is the current status of S 2271?
This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 2271?
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Last checked for changes about 11 hours ago · updated continuously

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