An Act creating a climate bank in Massachusetts
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill proposes to establish a climate bank in Massachusetts. The purpose of this bank would be to provide financial resources and support for projects that reduce greenhouse gas emissions and promote climate resilience. It aims to accelerate the state’s transition to a clean energy economy by offering loans, grants, and other financial instruments to businesses and municipalities.
Key provisions
- Creates a climate bank within the state of Massachusetts.
- Authorizes the bank to provide financial assistance for climate-related projects.
- Specifies eligible projects, including renewable energy, energy efficiency, and climate adaptation measures.
- Establishes a board to oversee the climate bank's operations.
- Allows the bank to utilize various funding sources, such as private investment and state appropriations.
- Defines the bank's lending and investment criteria.
- Outlines reporting requirements for the bank's activities and impact.
- Provides for the bank's administrative structure and governance.
Who is affected
- Businesses
- Municipalities
- Developers of renewable energy projects
- Homeowners
- Massachusetts residents
Notable changes
- This bill establishes a dedicated financial mechanism to support climate action.
Bill text
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Sponsors
Official sponsors from legislative records.
13 on record
Primary sponsor
Cosponsors
Jacob R. Oliveira
James B. Eldridge
Arguments
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