Clean Energy Investment Bank Act of 2008

A bill to facilitate the participation of private capital and skills in the strategic, economic, and environmental development of a diverse portfolio of clean energy and energy efficiency technologies within the United States, to facilitate the commercialization and market penetration of the technologies, and for other purposes.

3/6/2008--Introduced.
Clean Energy Investment Bank Act of 2008 - Establishes the Clean Energy Investment Bank of the United States, which shall be a U.S. agency and a government corporation.
Requires the bank to assist in the financing, and facilitate the commercial use, of clean energy and energy efficient technologies within the United States. Authorizes the Bank to make investments:
(1) in projects in the United States related to the production or use of energy that use a commercial technology that avoids, reduces, or sequesters one or more air pollutants or anthropogenic emissions of greenhouse gases more effectively than other technology options available to the project developer; or
(2) under provisions of the Energy Policy Act of 2005 concerning incentives for innovative technologies. Authorizes the Bank to establish an equity finance program under which it may purchase, invest in, or otherwise acquire equity or quasi-equity securities of firms or entities for the purpose of providing capital for any project that is consistent with this Act.
Establishes in the Treasury the Clean Energy Investment Bank Fund that shall be available for discharge of Bank liabilities.
Transfers to the Bank's Board of Directors specified functions and authority of the Secretary of Energy concerning guarantees, loans, and credit assistance, including programs and authorities under the Energy Policy Act of 2005 concerning incentives for innovative technologies. Revises provisions of such Act concerning the terms and conditions of loan guarantees for such incentives.


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Sponsor

• Sen. Pete Domenici [R, NM]
• and 7 Co-Sponsors
  • Sen. Lamar Alexander [R, TN]
  • Sen. Jim Bunning [R, KY]
  • Sen. Larry Craig [R, ID]
  • Sen. Elizabeth Dole [R, NC]
  • Sen. Mary Landrieu [D, LA]
  • Sen. Mel Martinez [R, FL]
  • Sen. Lisa Murkowski [R, AK]
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Committees

• Senate Energy and Natural Resources

Amendments

This bill has no amendments.

Amendments to S.2730

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
March 06, 2008

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All Bill Actions

• Jul 15, 2008: Committee on Energy and Natural Resources. Hearings held.
• Jul 15, 2008: Committee on Energy and Natural Resources. Date of scheduled hearing. SD-366. 10:00 a.m.
• Mar 06, 2008: Read twice and referred to the Committee on Energy and Natural Resources.
• Mar 06, 2008: Sponsor introductory remarks on measure. (CR S1707-1708)
• Introduced on Mar 06, 2008.

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Related Issue Areas:

• Technology
• Technological innovations
• Securities
• Investments
• 22 more
• Greenhouse gases
• Government trust funds
• Government lending
• Government corporations
• Finance
• Federally-guaranteed loans
• Executive reorganization
• Executive departments
• Environmental technology
• Environmental protection
• Energy efficiency
• Commercialization
• Carbon dioxide
• Carbon cycle
• Capital
• Business
• Budgets
• Banks and banking
• Alternative energy sources
• Air pollution control
• Air pollution
• Energy

Data from the Congressional Research Service

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Blog Coverage

March 07, 2008 Senators Propose Domestic Fund to Support Commercialization of ...

Pete Domenici (R-NM) and seven co-sponsors introduced a bill (S.2730) to establish a Bank that would provide loans, loan guarantees, and insurance to facilitate the development and commercialization of clean energy and energy efficiency ...

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