Commonwealth Clean Energy Financing Authority and Fund; established. (HB1171)

Introduced By

Del. Kaye Kory (D-Falls Church)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Commonwealth Clean Energy Financing Authority and Fund; established. Establishes the Commonwealth Clean Energy Financing Authority and the Commonwealth Clean Energy Financing Authority Fund to increase private investment in clean energy and resiliency projects in the Commonwealth. The bill requires the Authority to ensure that the projects and programs financed complement the goals of the Virginia Energy Plan and programs implemented by the Department of Energy, Department of Housing and Community Development, Department of Conservation and Recreation, and other relevant public and private entities. The bill requires that at least 40 percent of the resources deployed through the Authority are directed to historically economically disadvantaged communities. The bill provides that the Authority will have a total membership of 11 members that consist of nine nonlegislative citizen members and the Director of the Department of Energy and the Director of the Department of Housing and Community Development or their designees as ex officio members. The bill includes general powers and duties of the Authority, including submission of an annual report. The bill also includes various requirements for notes and bonds issued by the Authority. Read the Bill »

Status

01/14/2022: In Committee

History

DateAction
01/14/2022Presented and ordered printed 22104127D
01/14/2022Committee

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