“A bill to direct the Secretary of the Treasury to issue Clean Energy Victory Bonds.”
No CRS summary available for this bill.
This section states 10 congressional findings concerning the potential to increase U.S. clean and renewable energy production and energy efficiency; the competitive lag behind nations such as China and Germany; climate change as an existential threat; public interest in combating climate change; the $12 billion taxpayer investment in the Department of Energy's Office of Energy Efficiency and Renewable Energy yielding over $230 billion in net economic benefits (with an annual return exceeding 20 percent); job creation from such investments; improved energy security; and the benefits of voluntary bonds (citing World War II Victory Bonds, which raised over $185 billion, or $2 trillion in today's dollars) to support clean energy without direct appropriations.
This section defines key terms for purposes of the Act, including "clean energy project" as a technology providing (1) performance-based energy efficiency improvements or (2) clean energy improvements such as electricity from solar, wind, geothermal, small-scale hydropower, and hydrokinetic sources; fuel cells using non-fossil fuels; advanced storage technologies; or electric vehicle infrastructure. It also defines "Secretary" as the Secretary of the Treasury or the Secretary's delegate.
This section directs the Secretary of the Treasury, not later than 6 months after enactment and in consultation with the Secretaries of Energy and Defense, to issue Clean Energy Victory Bonds as savings bonds (consistent with 31 U.S.C. 3105 and series EE, as administered by the Bureau of the Fiscal Service), with proceeds used for purposes described in new IRC §9512(c) (as added by section 5) and an aggregate annual face amount of not more than $50 billion. The bonds are issued in denominations of $25 and other amounts determined by the Secretary, with maturities determined by the Secretary; bear interest at the Series EE and Series I savings bond rate plus a Secretary-determined rate based on federal energy savings from funded clean energy projects and interest on related loans; and are backed by the full faith and credit of the United States with payments from the general fund. This section further requires the Secretary to promote the bonds through campaigns and advertising in periodicals, billboards, television, radio, internet, financial institutions, and other venues.
This section establishes the Clean Energy Victory Bonds Trust Fund in the Treasury of the United States, funded by (1) amounts equivalent to revenues from Clean Energy Victory Bonds issued under section 4 of the Clean Energy Victory Bond Act of 2025 and (2) accepted gifts or bequests. Amounts in the trust fund are available without further appropriation to finance clean energy projects (as defined in section 3 of that Act) at the federal, state, and local levels, which may include (1) additional support for existing federal financing programs for energy efficiency upgrades and clean energy deployment; (2) funding for clean energy investments by federal agencies; (3) funding for electric grid enhancements and connections; (4) funding to renovate inefficient buildings or construct energy-efficient ones; (5) tax incentives and credits for clean energy technologies; (6) funding for innovation research, including ARPA-E (Advanced Research Projects Agency–Energy), public competitions similar to X Prize Foundation prizes, and grants through the Department of Energy's Office of Energy Efficiency and Renewable Energy; (7) additional support for existing federal, state, and local clean energy grant programs; and (8) funding for zero-emission vehicle infrastructure and manufacturing. The Secretary must ensure that at least 40% of annual expenditures support clean energy projects located in and reducing energy rates for disadvantaged and vulnerable communities (i.e., those bearing disproportionate burdens of negative public health effects, environmental pollution, or climate change impacts; with significant representation of people of color, low-wealth individuals, or Tribal and Indigenous members; or with high concentrations of low- and moderate-income households, as determined by the Secretary).