I 
116TH CONGRESS 
1ST SESSION H. R. 3423 
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. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 21, 2019 
Mr. HIMES (for himself, Mr. COURTNEY, Mr. TONKO, Mr. CONNOLLY, Mr. 
CARTWRIGHT, Mr. PETERS, Ms. ESHOO, Mr. BLUMENAUER, Mr. MEEKS, 
Ms. MATSUI, Mr. YARMUTH, Mr. MICHAEL F. DOYLE of Pennsylvania, 
Ms. HILL of California, and Mr. MCGOVERN) introduced the following 
bill; which was referred to the Committee on Ways and Means, and in 
addition to the Committee on Energy and Commerce, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
of such provisions as fall within the jurisdiction of the committee con-
cerned 
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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘National Green Bank 
Act of 2019’’. 
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SEC. 2. CAPITALIZATION, METHOD OF CAPITAL STOCK PAY-
MENTS, ISSUANCE OF GREEN BONDS. 
Chapter 31 of title 31, United States Code, is amend-
ed by adding after section 3102 the following new section: 
‘‘§ 3102A. Green Bonds 
‘‘(a) INITIAL CAPITALIZATION.—The Secretary of the 
Treasury shall issue bonds (in this section referred to as 
‘Green Bonds’) in the amount of $10,000,000,000 on the 
credit of the United States to acquire capital stock of the 
United States Green Bank (established under section 
9801 of this title). Stock certificates evidencing ownership 
in the United States Green Bank shall be issued by the 
Green Bank to the Secretary of the Treasury, to the ex-
tent of payments made for the capital stock of the Green 
Bank. 
‘‘(b) FUTURE CAPITALIZATION.—Upon the request 
of the United States Green Bank, the Secretary of the 
Treasury shall issue additional Green Bonds on the credit 
of the United States to acquire additional capital stock 
of the United States Green Bank in an aggregate amount 
not to exceed $50,000,000,000 outstanding at any one 
time. 
‘‘(c) 
DENOMINATIONS
AND
MATURITY.—Green 
Bonds shall be in such forms and denominations, and shall 
mature within such periods, as determined by the Sec-
retary of the Treasury. 
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‘‘(d) INTEREST.—Green Bonds shall bear interest at 
a rate not less than the current average yield on out-
standing market obligations of the United States of com-
parable maturity during the month preceding the issuance 
of the obligation as determined by the Secretary of the 
Treasury. 
‘‘(e) GUARANTEED.—Green Bonds shall be fully and 
unconditionally guaranteed both as to interest and prin-
cipal by the United States, and such guaranty shall be 
expressed on the face of each bond. 
‘‘(f) LAWFUL INVESTMENTS.—Green Bonds shall be 
lawful investments, and may be accepted as security for 
all fiduciary, trust, and public funds, the investment or 
deposit of which shall be under the authority or control 
of the United States or any officer or officers thereof.’’. 
SEC. 3. GREEN BANK. 
Title 31, United States Code, is amended by adding 
the following new chapter at the end thereof: 
‘‘CHAPTER 98—GREEN BANK 
‘‘§ 9801. United States Green Bank 
‘‘(a) SHORT TITLE.—This section may be cited as the 
‘United States Green Bank Act of 2019’. 
‘‘(b) PURPOSES.—The purposes of this section are as 
follows: 
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‘‘(1) To significantly increase the pace and 
amount of investment in clean energy, energy effi-
ciency, and other climate change mitigation and ad-
aptation projects at the State and local level. 
‘‘(2) To improve the standard of living for 
Americans by delivering clean electricity more effi-
ciently and at lower cost and by funding projects 
that will create high-paying, long-term jobs and 
make affordable financing available to low- and mod-
erate-income families. 
‘‘(3) To address the main impediment to invest-
ment at the State and local level—limited capital 
and tight balance sheets—by establishing a national 
Green Bank to capitalize legitimate Regional, State, 
and Municipal Green Banks. 
‘‘(4) To facilitate— 
‘‘(A) efficient tax equity markets for quali-
fied clean energy projects; and 
‘‘(B) the financing of long-term clean en-
ergy purchasing by governmental and non-
governmental not-for-profit entities. 
‘‘(5) To foster— 
‘‘(A) the development and consistent appli-
cation of transparent underwriting standards, 
standard contractual terms, and measurement 
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and verification protocols for qualified clean en-
ergy 
projects, 
qualified 
energy 
efficiency 
projects, and qualified climate change mitiga-
tion or adaptation projects; 
‘‘(B) the creation of performance data that 
enables effective underwriting, risk manage-
ment, and pro forma modeling of financial per-
formance of qualified clean energy projects and 
qualified energy efficiency projects to support 
primary financing markets and stimulate devel-
opment of secondary investment markets for 
clean energy projects, energy efficiency projects, 
and climate change mitigation or adaptation 
projects; and 
‘‘(C) the level of financing support for 
qualified clean energy projects, qualified energy 
efficiency projects, and qualified climate mitiga-
tion and adaptation projects necessary to ad-
vance vital national objectives, including— 
‘‘(i) achieving energy independence 
from foreign energy sources; 
‘‘(ii) abating climate change by in-
creasing zero or low carbon electricity gen-
eration and transportation capabilities; 
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‘‘(iii) adapting to the impacts result-
ing from climate change; 
‘‘(iv) realizing energy efficiency poten-
tial in existing infrastructure; 
‘‘(v) easing the economic effects of 
transitioning from a carbon-based economy 
to a clean energy economy; 
‘‘(vi) achieving job creation through 
the construction and operation of qualified 
clean energy projects, qualified energy effi-
ciency projects, and qualified climate 
change mitigation or adaptation projects; 
‘‘(vii) fostering long-term domestic 
manufacturing capacity in the clean en-
ergy, energy efficiency, and climate change 
mitigation or adaptation industries; and 
‘‘(viii) complementing and supple-
menting other clean energy, energy effi-
ciency, and climate change mitigation and 
adaptation legislation at the regional, 
State, municipal, and county level. 
‘‘(c) DEFINITIONS.—In this section: 
‘‘(1) BANK.—The term ‘Bank’ means the 
United States Green Bank established under sub-
section (d). 
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‘‘(2) BOARD.—The term ‘Board’ means the 
Board of Directors of the Bank. 
‘‘(3) CLEAN
ENERGY
PROJECT.—The term 
‘clean energy project’ means any electricity genera-
tion, transmission, storage, heating, cooling, trans-
portation, distribution, industrial process, or manu-
facturing project whose primary purpose is the de-
ployment, development, or production of an energy 
system or technology that avoids, reduces, or seques-
ters air pollutants or anthropogenic greenhouse 
gases, including the following: 
‘‘(A) Solar. 
‘‘(B) Wind. 
‘‘(C) Geothermal. 
‘‘(D) Biomass. 
‘‘(E) Hydropower. 
‘‘(F) Ocean and hydrokinetic. 
‘‘(G) Fuel cell. 
‘‘(H) Advanced battery. 
‘‘(I) Carbon capture and sequestration. 
‘‘(J) 
Next 
generation 
biofuels 
from 
nonfood feedstocks. 
‘‘(K) Alternative fuel vehicle infrastruc-
ture. 
‘‘(L) Alternative fuel vehicles. 
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‘‘(4) CLIMATE CHANGE MITIGATION OR ADAP-
TATION PROJECT.—The term ‘climate change miti-
gation or adaptation project’ means any project that 
reduces the emissions of greenhouse gases by 
sources or enhance their removal from the atmos-
phere by sinks, or reduce the vulnerability of social 
and biological systems to relatively sudden change 
and thus offset the effects of global warming, includ-
ing— 
‘‘(A) afforestation, reforestation, and land 
conservation; 
‘‘(B) regenerative agriculture; 
‘‘(C) 
transit-oriented 
development 
and 
mass transit infrastructure; 
‘‘(D) waste and recycling; 
‘‘(E) water treatment; and 
‘‘(F) wetland protection. 
‘‘(5) ELIGIBLE CLEAN ENERGY FINANCING IN-
STITUTION.—The term ‘Eligible Clean Energy Fi-
nancing Institution’ means a not-for-profit, inde-
pendent entity, quasi-independent entity, or a gov-
ernmental entity within an agency or financing au-
thority, established or designated by a State, group 
of States, the District of Columbia, a territory of the 
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United States, or an Eligible State Political Subdivi-
sion to— 
‘‘(A) provide low-cost or long-term financ-
ing support or credit enhancements, including 
loan guarantees and loan loss reserves, for 
Qualified Clean Energy Projects, Qualified En-
ergy Efficiency Projects, or Qualified Mitigation 
or Adaptation Projects; and 
‘‘(B) create liquid markets for these 
projects 
including 
warehousing 
and 
securitization, or take other steps to reduce fi-
nancial barriers to the deployment of existing 
and innovative clean energy, energy efficiency 
projects, and climate change mitigation or ad-
aptation projects. Eligible Clean Energy Fi-
nancing Institutions may enter into partner-
ships with private entities. 
‘‘(6) ELIGIBLE
STATE
POLITICAL
SUBDIVI-
SION.—The term ‘Eligible State Political Subdivi-
sion’ means— 
‘‘(A) any municipality, county or other po-
litical subdivision within a State that, based on 
the population data from the most recent U.S. 
Census Bureau— 
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‘‘(i) with respect to a municipality, 
has a population of not fewer than 
200,000 people; 
‘‘(ii) with respect to a county, parish 
or borough, has a population of not fewer 
than 800,000 people; or 
‘‘(iii) with respect to a municipality, 
county, parish, or borough, has a popu-
lation— 
‘‘(I) of not fewer than 84,000 
people; and 
‘‘(II) that constitutes not less 
than 5 percent of the total population 
of the State in which the municipality, 
county, parish, or borough is located; 
and 
‘‘(B) any political subdivision that— 
‘‘(i) is located in a State that collabo-
rates as 1 region for the purposes of this 
Act; or 
‘‘(ii)(I) collaborates with another po-
litical subdivision; and 
‘‘(II) when combined with the political 
subdivision described in subclause (I), 
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meets the requirements described in sub-
paragraph (A). 
‘‘(7) ENERGY EFFICIENCY PROJECT.—The term 
‘energy efficiency project’ means any project, tech-
nology, function, or measure that results in the re-
duction of energy use required to achieve the same 
level of service or output prior to the application of 
such project, technology, function, or measure, or 
substantially reduces greenhouse gas emissions rel-
ative to emissions that would have occurred prior to 
the application of such project, technology, function, 
or measure. 
‘‘(8) GREEN BOND.—The term ‘Green Bond’ 
means a bond issued pursuant to section 3102A of 
this title. 
‘‘(9) QUALIFIED
CLEAN
ENERGY
PROJECT.— 
The term ‘qualified clean energy project’ means a 
clean energy project that— 
‘‘(A) is a Clean Energy Project carried out 
domestically within the territorial borders of the 
United States; 
‘‘(B) stays in good standing with its fi-
nancing entity; 
‘‘(C) to the extent otherwise required by 
law, pays wages in accordance with subchapter 
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IV of chapter 31 of title 40, United States Code 
(commonly referred to as the Davis-Bacon Act); 
‘‘(D) if for nuclear power, is funded by the 
Bank only after all other existing Federal fi-
nancial support has been expended; 
‘‘(E) if for Alternative fuel vehicles, is for 
the purchase or lease of eligible vehicles and not 
the design or manufacture thereof; and 
‘‘(F) satisfies any other conditions estab-
lished by the Bank and published in the Fed-
eral Register. 
‘‘(10) 
QUALIFIED
ENERGY
EFFICIENCY 
PROJECT.—The term ‘qualified energy efficiency 
project’ means an energy efficiency project, includ-
ing smart grid technologies and functions character-
ized in section 1301 of the Energy Independence 
and Security Act of 2007 and end-use technologies 
for efficiency gains in new construction and across 
existing infrastructure that— 
‘‘(A) is an Energy Efficiency Project car-
ried out domestically within the territorial bor-
ders of the United States; 
‘‘(B) stays current on interest and debt 
payment obligations; 
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‘‘(C) to the extent otherwise required by 
law, pays wages in accordance with subchapter 
IV of chapter 31 of title 40, United States Code 
(commonly referred to as the Davis-Bacon Act); 
and 
‘‘(D) satisfies any other conditions estab-
lished by the Bank and published in the Fed-
eral Register. 
‘‘(d) GREEN BANK.— 
‘‘(1) ESTABLISHMENT
OF
CORPORATION.— 
There is established a corporation to be known as 
the United States Green Bank that shall be wholly 
owned by the United States. 
‘‘(2) OVERSIGHT.—The Bank shall be subject 
to the general supervision and direction of the Sec-
retary of the Treasury. The Bank shall be an instru-
mentality of the United States Government and shall 
maintain such offices as may be necessary or appro-
priate in the conduct of its business. 
‘‘(3) CHARTER.—The Bank shall be chartered 
for 40 years from the date of enactment of this sec-
tion. 
‘‘(4) GOVERNANCE.— 
‘‘(A) BOARD
OF
DIRECTORS
OF
THE 
BANK.— 
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newable energy, 1 member with exper-
tise regarding energy efficiency, 1 
member with expertise regarding fi-
nance, 1 member with expertise re-
garding electric utilities, and 1 mem-
ber with expertise regarding sustain-
able transportation. 
‘‘(iii) QUORUM.—Five members of the 
Board shall constitute a quorum. 
‘‘(iv) 
BYLAWS.—The 
Board 
shall 
adopt, and may amend, such bylaws as are 
necessary for the proper management and 
functioning of the Bank, and shall, in such 
bylaws, designate the vice presidents and 
other officers of the Bank and prescribe 
their duties. 
‘‘(v) TERMS.—The initial terms of the 
members of the Board shall be 4 years. 
For terms beginning after the first 4 years 
following the date of the enactment of this 
section, the Board shall create staggered 
terms of 2, 3, and 4 years for members of 
the Board. 
‘‘(vi) VACANCIES.—Any vacancy on 
the Board shall be filled in the same man-
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ner in which the original appointment was 
made. 
‘‘(vii) INTERIM APPOINTMENTS.—Any 
member appointed to fill a vacancy occur-
ring before the expiration of the term for 
which such member’s predecessor was ap-
pointed shall be appointed only for the re-
mainder of such term. 
‘‘(viii) 
REAPPOINTMENT.—Members 
of the Board may be reappointed for addi-
tional terms of service as members of the 
Board. 
‘‘(ix) CONTINUATION
OF
SERVICE.— 
Any member of the Board whose term has 
expired may continue to serve on the 
Board until the earlier of— 
‘‘(I) the date on which such 
member’s successor is appointed; or 
‘‘(II) the end of the 6-month pe-
riod beginning on the date such mem-
ber’s term expires. 
‘‘(B) EXECUTIVE VICE PRESIDENT.—The 
Chief Executive Officer shall appoint an Execu-
tive Vice President who— 
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‘‘(i) shall serve as Chief Executive Of-
ficer of the Bank during the absence or 
disability of, or in the event of a vacancy 
in the office, of Chief Executive Officer; 
and 
‘‘(ii) shall at other times perform such 
functions as the Chief Executive Officer 
may prescribe. 
‘‘(C) POLICIES AND PROCEDURES.—At the 
request of any 2 members of the Board, the 
Chairman shall place an item pertaining to the 
policies or procedures of the Bank on the agen-
da for discussion by the Board. Not later than 
30 days after the date such a request is made, 
the Chairman shall hold a meeting of the Board 
at which such item shall be discussed. 
‘‘(D) CONFLICTS OF INTEREST.—No direc-
tor, officer, attorney, agent, or employee of the 
Bank shall in any manner, directly or indi-
rectly, participate in the deliberation upon, or 
the determination of, any question affecting 
such individual’s personal interests, or the in-
terests of any corporation, partnership, or asso-
ciation in which such individual is directly or 
indirectly personally interested. 
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‘‘(5) HIRING AND CONTRACTING AUTHORITY.— 
‘‘(A) CONTRACTING.—The Bank may em-
ploy or otherwise contract with banks, credit 
agencies, attorneys, and other third parties at 
customary commercial rates. 
‘‘(B) HIRING.—Notwithstanding any oth-
erwise applicable Federal rules and regulations, 
the Bank may employ and otherwise contract 
with employees and provide compensation to 
such employees at prevailing rates for com-
pensation for similar positions in private indus-
try. 
‘‘(6) SUNSET.— 
‘‘(A) EXPIRATION
OF
CHARTER.—The 
Bank shall continue to exercise its functions 
until all obligations and commitments of the 
Bank are discharged, even after its charter has 
expired. 
‘‘(B) PRIOR OBLIGATIONS.—No provisions 
of this subsection shall be construed as pre-
venting the Bank from— 
‘‘(i) acquiring obligations prior to the 
date of the expiration of its charter which 
mature subsequent to such date; 
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‘‘(ii) assuming, prior to the date of 
the expiration of its charter, liability as 
guarantor, endorser, or acceptor of obliga-
tions which mature subsequent to such 
date; 
‘‘(iii) issuing, prior or subsequent to 
the date of the expiration of its charter, 
for purchase by the Secretary of the Treas-
ury or any other purchasers, its notes, de-
bentures, bonds, or other obligations which 
mature subsequent to such date; or 
‘‘(iv) continuing as a corporation and 
exercising any of its functions subsequent 
to the date of the expiration of its charter 
for purposes of orderly liquidation, includ-
ing the administration of its assets and the 
collection of any obligations held by the 
Bank. 
‘‘(e) GREEN BANK ESTABLISHMENT FUND.— 
‘‘(1) ESTABLISHMENT.—There is established in 
the Treasury of the United States a revolving fund, 
to be known as the ‘Green Bank Establishment 
Fund’ (hereinafter referred to as the ‘Fund’), con-
sisting of— 
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‘‘(A) such amounts as are deposited in the 
Fund under this subtitle, including but not lim-
ited to proceeds from the Green Bonds issued 
under section 3102A; and 
‘‘(B) such sums as may be appropriated to 
supplement the Fund. 
‘‘(2) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the Fund 
such sums as are necessary to carry out this sub-
title. 
‘‘(3) EXPENDITURES
FROM
THE
FUND.— 
Amounts in the Fund shall be available to the Chief 
Executive Officer for obligation without fiscal year 
limitation, to remain available until expended. 
‘‘(f) LENDING, FINANCING, EXPENDITURES.— 
‘‘(1) IN GENERAL.—The Bank shall establish a 
program to provide, on a competitive basis financing 
or financing support from the Fund, as the Bank 
determines appropriate, solely to provide capitaliza-
tion to an Eligible Clean Energy Financing Institu-
tion for the establishment or continuing operation of 
that entity. 
‘‘(2) TYPES OF FINANCING OR FINANCING SUP-
PORT.—The Bank may provide loans, loan guaran-
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tees, credit buy downs, or other financing or financ-
ing support the Bank determines appropriate. 
‘‘(3) REQUIREMENTS.—The Bank may only 
provide loans, loan guarantees or credit buy downs 
under paragraph (1) if: 
‘‘(A) APPLICATION.—The applicant sub-
mits an application for loans, loan guarantees 
or credit buy downs in accordance with applica-
tion criteria established by the Bank. 
‘‘(B) ELIGIBLE CLEAN ENERGY FINANCING 
INSTITUTIONS.—An entity is eligible to receive 
loans, loan guarantees or credit buy downs 
under this section only if the entity— 
‘‘(i) meets the definition of Eligible 
Clean Energy Financing Institution; 
‘‘(ii) uses the funding from the Bank 
solely for the purposes described in this 
section; and 
‘‘(iii) satisfies the capitalization and 
funding requirements as described in this 
section. 
‘‘(C) PROJECT FINANCE.—The Bank shall 
not directly lend or otherwise provide financial 
products to any individual projects, nor shall it 
be required to examine individual projects for 
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the purposes of lending under paragraph (1) 
other than as necessary to determine whether 
an applicant meets the criteria for Eligible 
Clean Energy Financing Institutions. 
‘‘(D) 
CAPITALIZATION
AND
CO-FUND-
ING.—The Eligible Clean Energy Financing In-
stitution— 
‘‘(i) shall provide, at the time of re-
ceipt of any initial funding for capitaliza-
tion by the Bank, an amount from funding 
sources other than the Bank equivalent to 
no less than $1,000,000 and no less than 
20 percent of the total initial funding pro-
vided by the Bank; and 
‘‘(ii) may not receive any subsequent 
funding for capitalization by the Bank, in 
addition to any initial funding for capital-
ization provided by the Bank in accordance 
with (i) above in, of amounts greater than 
two times the amount of capital committed 
for use by the Eligible Clean Energy Fi-
nancing Institution for Qualified Clean En-
ergy Projects and Qualified Energy Effi-
ciency Projects at the time of application. 
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‘‘(4) REGULATIONS.—The Bank shall establish 
regulations to carry out the activities and operations 
set out in this chapter. 
‘‘(g) LENDING ACTIVITIES.— 
‘‘(1) FEES.—The Bank shall assess reasonable 
fees on its activities so as to cover its reasonable 
costs and expenses, consistent with the Federal 
Credit Reform Act of 1990 (2 U.S.C. 661 et seq.), 
provided the Bank operates as a not-for-profit enti-
ty. 
‘‘(2) APPROPRIATIONS AND RETENTION OF RE-
CEIPTS.—For purposes of the Federal Credit Re-
form Act, funds made available to the Green Bank 
pursuant to section 3102A for carrying out this sec-
tion are appropriated to the Green Bank for the 
purposes described in the section. Receipts collected 
by the Green Bank, consistent with the Federal 
Credit Reform Act, shall be considered to have been 
provided in advance in an appropriations Act, and 
shall remain available to the Green Bank until ex-
pended. 
‘‘(3) IMMUNITY
FROM
IMPAIRMENT, LIMITA-
TION, OR RESTRICTION.— 
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‘‘(A) IN GENERAL.—All rights and rem-
edies of the Bank shall be immune from impair-
ment, limitation, or restrictions by or under— 
‘‘(i) any law (other than a law enacted 
by Congress expressly in limitation of this 
paragraph) that becomes effective after the 
acquisition by the Bank of the subject or 
property on, under, or with respect to 
which the right or remedy arises or exists 
or would so arise or exist in the absence of 
the law; or 
‘‘(ii) any administrative or other ac-
tion that becomes effective after the acqui-
sition. 
‘‘(B) STATE LAW.—The Bank may con-
duct its business without regard to any quali-
fication or law of any State relating to incorpo-
ration. 
‘‘(4) TAXATION.— 
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), the Bank (including its activities, 
capital, reserves, surplus and income) shall be 
exempt from all taxation imposed by any State 
or local political subdivision of a State. 
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‘‘(B) REAL PROPERTY.—Any real property 
of the Bank shall be subject to taxation by a 
State or political subdivision of a State to the 
same extent according to the value of the real 
property as other real property is taxed. 
‘‘(5) POWER TO REMOVE; JURISDICTION.—Not-
withstanding any other provision of law, any civil ac-
tion, suit, or proceeding to which the Bank is a 
party shall be deemed to arise under the laws of the 
United States, and the United States district courts 
shall have original jurisdiction. The Bank may, with-
out bond or security, remove any such action, suit, 
or proceeding from a State court to a United States 
district court or to the United States District Court 
for the District of Columbia. 
‘‘(6) SPENDING SAFEGUARDS.— 
‘‘(A) IN GENERAL.—The Chief Executive 
Officer of the Bank— 
‘‘(i) shall require any Eligible Clean 
Energy Financing Institution receiving fi-
nancial support pursuant to this section to 
report quarterly, in a format specified by 
the Chief Executive Officer, on such enti-
ty’s use of such support and its progress 
fulfilling the objectives for which such sup-
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port was granted, and the Chief Executive 
Officer shall make these reports available 
to the public; 
‘‘(ii) may establish additional report-
ing and information requirements for any 
recipient of financing support made avail-
able pursuant to this section; 
‘‘(iii) shall establish appropriate mech-
anisms to ensure appropriate use and com-
pliance with all terms of any financing 
support made available pursuant to this 
section; 
‘‘(iv) may, in addition to and con-
sistent with any other authority under ap-
plicable law, deobligate financing support 
made available pursuant to this section to 
entities that demonstrate an insufficient 
level of performance, or wasteful or fraud-
ulent spending, as defined in advance by 
the Chief Executive Officer, and award 
these funds competitively to new or exist-
ing applicants consistent with this section; 
‘‘(v) shall create and maintain a fully 
searchable database, accessible on the 
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Internet (or successor protocol) at no cost 
to the public, that contains at least— 
‘‘(I) a list of each entity that has 
applied for loans, loan guarantees or 
credit buy downs under this section; 
‘‘(II) a description of each appli-
cation; 
‘‘(III) the status of each such ap-
plication; 
‘‘(IV) the name of each entity re-
ceiving funds made available pursuant 
to this section; 
‘‘(V) the purpose for which such 
entity is receiving such funds; 
‘‘(VI) each quarterly report sub-
mitted by the entity pursuant to this 
section; and 
‘‘(VII) information related to 
Qualifying Clean Energy Projects and 
Qualifying Energy Efficiency Projects 
funded by Eligible Clean Energy Fi-
nancing Institutions using funding re-
ceived from the Bank; 
‘‘(vi) to the extent practicable, data 
maintained under clause (v) shall be used 
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to inform private capital markets, includ-
ing the development of underwriting stand-
ards for the financing of clean energy 
projects and energy efficiency projects; 
‘‘(vii) shall make all financing trans-
actions available for public inspection, in-
cluding formal annual reviews by both a 
private auditor and the Comptroller Gen-
eral; and 
‘‘(viii) shall at all times be available to 
receive public comment in writing on the 
activities of the Bank. 
‘‘(B) 
PROTECTION
OF
CONFIDENTIAL 
BUSINESS INFORMATION.—To the extent nec-
essary and appropriate, the Chief Executive Of-
ficer may redact any information regarding ap-
plicants and borrowers to protect confidential 
business information. 
‘‘(7) GUARANTEE.—Except as provided in sec-
tion 3102A(e) with respect to Green Bonds, finan-
cial support provided by the Bank shall not be fully 
and unconditionally guaranteed by the United 
States. 
‘‘(h) NEW BANK DIVISION.— 
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‘‘(1) IN GENERAL.—The Bank shall establish a 
New Bank Division to provide technical assistance to 
States, group of States, the District of Columbia, 
territories of the United States, or Eligible State Po-
litical Subdivisions seeking to establish green banks. 
‘‘(2) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the New 
Bank Division such sums as are necessary to carry 
out this subsection.’’. 
SEC. 4. CONFORMING AMENDMENTS. 
(a) TAX EXEMPT STATUS.—Section 501(l) of the In-
ternal Revenue Code of 1986 is amended by adding at the 
end the following: 
‘‘(4) The Green Bank established under section 
9801 of title 31, United States Code.’’. 
(b) WHOLLY
OWNED
GOVERNMENT
CORPORA-
TION.—Section 9101(3) of title 31, United States Code, 
is amended by adding at the end the following: 
‘‘(S) the Green Bank.’’. 
(c) CLERICAL AMENDMENTS.— 
(1) The table of sections for chapter 31 of title 
31, United States Code, is amended by inserting 
after the item relating to section 3102 the following 
new item: 
‘‘3102A. Green Bonds.’’. 
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(2) The table of chapters for subtitle VI of title 
31, United States Code, is amended by adding at 
the end the following new item: 
‘‘98. Green Bank ................................................................................ 9801’’. 
Æ 
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