Virginia House Bill 2509

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 8 2025 - 25% progression
Action: 2025-01-08 - Committee Referral Pending
Text: Latest bill text (Introduced) [HTML]

Virginia Clean Energy Innovation Board established; report. Establishes the Virginia Clean Energy Innovation Board to finance clean energy projects, greenhouse gas emissions reduction projects, and other qualified projects through the strategic deployment of public funds in the form of grants, loans, credit enhancements, and other financing mechanisms. The Board consists of nine nonlegislative citizen members and three ex officio members with voting privileges, who include the Director of the Department of Energy, the Chief Executive Officer of the Virginia Economic Development Partnership Authority, and the Secretary of Finance, or their designees. The bill provides that the nonlegislative citizen members are to be appointed as follows: four members by the Senate Committee on Rules, four members by the Speaker of the House of Delegates, and one member by the Governor, each of whom are required to have expertise in real estate, finance, or project development or legal expertise in zero-emission or low-emission energy generation, infrastructure, transportation, agriculture, storm water management, or housing. The bill contains provisions for (i) the powers and duties of the Board, (ii) lending practices, (iii) a strategic plan, (iv) an investment strategy, (v) public outreach requirements, (vi) audits, (vii) exemptions from taxes and from personnel and procurement procedures, and (viii) reporting requirements. The bill provides that the Virginia Clean Energy Innovation Bank established pursuant to subsection L of Item 471 of Chapter 2 of the Acts of Assembly of 2024, Special Session I, is dissolved and the Board is its successor.

Virginia Clean Energy Innovation Board established

Del. Alfonso Lopez [D]

Date	Chamber	Action
2025-01-08	House	Committee Referral Pending
2025-01-08	House	Prefiled and ordered printed; Offered 01-08-2025 25102641D

Type	Source
Summary	https://lis.virginia.gov/bill-details/20251/HB2509
Text	https://lis.virginia.gov/bill-details/20251/HB2509/text/HB2509