S.Amdt. 1535

SA 1535. Mr. VAN HOLLEN (for himself and Mr. Markey) submitted an
amendment intended to be proposed to amendment SA 1407 proposed by Ms.
Murkowski to the bill S. 2657, to support innovation in advanced
geothermal research and development, and for other purposes; which was
ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ____. NATIONAL CLIMATE BANK STUDY.

(a) In General.--The Secretary shall provide a grant to a
nonprofit corporation to evaluate the need, develop the
business model, and build the capacity for raising and
deploying public, private, and philanthropic funds to finance
the deployment of clean technologies in partnership with the
private sector.
(b) Funding.--
(1) In general.--The Secretary shall provide, out of any
amounts appropriated under subsection (c), funding for a
nonprofit corporation based in the National Capital Region
formed for the exclusive purpose of providing financing for,
and mobilizing private capital through public investment in,
low- and zero-emission technologies and processes at the
national and State levels--
(A) to reduce greenhouse gas emissions in the United
States;
(B) to expand access to low- and zero-emission technologies
for minority, low-income, rural, and distressed
neighborhoods;
(C) to enable a just transition to low- and zero-emission
technologies for workers and their communities; and
(D) to protect consumers from utility rate increases.
(2) Use of funds.--Funds provided to the nonprofit
corporation under paragraph (1) shall be used to evaluate the
need, evaluate the potential, develop the business model, and
build the capacity for raising and deploying public, private,
and philanthropic funds to finance the deployment of new and
existing clean energy, clean transportation, resiliency,
agricultural, and other technologies that reduce greenhouse
gas emissions--
(A) to fill market gaps;
(B) to overcome financial barriers; and
(C) to mobilize greater private investment in those
technologies in underserved markets.
(c) Authorization of Appropriations.--There is authorized
to be appropriated to the Secretary to carry out this section
$5,000,000, to remain available until expended.
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