Connecticut 2020 Regular Session

Connecticut Senate Bill SB00179

Introduced
2/20/20  
Refer
2/20/20  

Caption

An Act Concerning The Connecticut Green Bank.

Impact

Should the bill be enacted, it will expand the operational and financial capabilities of the Connecticut Green Bank significantly. The bank will have the authority to provide financing support up to 100% of the cost of energy efficiency projects, alongside additional powers such as the ability to borrow, invest in clean energy projects, and engage in contracts with private sources along with managing its assets. This legislative change aims to position the Green Bank as a robust facilitatory institution for clean energy advancements, potentially leading to greater state economic development through improved environmental policies.

Summary

SB00179 aims to establish the Connecticut Green Bank as a body politic and corporate, intended to support clean energy investments across residential, municipal, and commercial sectors in the state. The bill seeks to enhance accessibility to financing for clean energy projects, thereby stimulating demand and fostering the growth of renewable energy sources. Essentially, the Green Bank will utilize grants, loans, and other forms of financial assistance to encourage investments in sustainable energy practices throughout Connecticut.

Contention

Some points of contention surrounding SB00179 may arise from concerns about how this centralization of clean energy financing could impact local investment opportunities and decision-making. Critics may argue that the approach could limit the autonomy of local governments and businesses in pursuing tailored energy solutions. Additionally, the engagement with private entities for raising capital might raise questions about accountability and transparency in how financing is allocated, potentially leading to disparities in how communities benefit from the Green Bank's initiatives.

Companion Bills

No companion bills found.

Previously Filed As

CT HB05142

An Act Concerning Consumer Credit, Certain Bank Real Estate Improvements, The Connecticut Uniform Securities Act, Shared Appreciation Agreements, Innovation Banks, The Community Bank And Community Credit Union Program And Technical Revisions To The Banking Statutes.

CT HB05145

An Act Concerning Innovation Banks.

CT HB05377

An Act Concerning The Connecticut Health Insurance Exchange.

CT SB00501

An Act Concerning Motor Vehicle Assessments For Property Taxation, Innovation Banks, The Interest On Certain Tax Underpayments, The Assessment On Insurers, School Building Projects, The South Central Connecticut Regional Water Authority Charter And Certain State Historic Preservation Officer Procedures.

CT SB00011

An Act Concerning Connecticut Resiliency Planning And Providing Municipal Options For Climate Resilience.

CT HB05232

An Act Concerning Solar Projects Throughout The State.

CT SB00264

An Act Concerning The Bonding Authority Of The Connecticut Municipal Redevelopment Authority, The Reporting Of Material Financial Obligations By State Agencies, Tax-exempt Proceeds Fund References And The Notification Of The Sale Or Lease Of Projects Financed With Bond Proceeds.

CT SB00124

An Act Concerning The Connecticut Uniform Securities Act.

CT SB00136

An Act Making Changes To The Connecticut Retirement Security Program Statutes.

CT SB00001

An Act Concerning The Health And Safety Of Connecticut Residents.

Similar Bills

CT SB00213

An Act Establishing The Apprenticeship And Employment Recruitment Authority.

CT SB00927

An Act Creating The Environmental Infrastructure Fund Within The Connecticut Green Bank.

CT SB00103

An Act Concerning The Connecticut Health And Educational Facilities Authority And The Connecticut Higher Education Supplemental Loan Authority.

CT HB05018

An Act Concerning Connecticut Innovations, Incorporated, And The Connecticut Development Authority.

CT SB00366

An Act Concerning Administration Of The Connecticut Green Bank, The Priority Of The Benefit Assessments Lien Under The Green Bank's Commercial Sustainable Energy Program And The Green Bank's Solar Home Renewable Energy Credit Program.

CT SB00029

An Act Concerning The Connecticut Health And Educational Facilities Authority.

CT SB00363

An Act Concerning Economic Opportunity.

CT SB00070

An Act Establishing The Connecticut Infrastructure Bank.