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2024 Session

Budget Amendments - HB30 (Conference Report)

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Virginia Clean Energy Innovation Bank (SB 729)

Item 471 #3c

Item 471 #3c

First Year - FY2025 Second Year - FY2026
Central Appropriations
Central Appropriations FY2025 $10,000,000 FY2026 $0 GF

Language
Page 519, line 53, strike "$186,800,000" and insert "$196,800,000".

Page 523, after line 14, insert:

"O. Out of the amounts in this item, $10,000,000 the first year from the general fund shall be provided to establish the Virginia Clean Energy Innovation Bank to finance climate initiatives. Up to $2,000,000 of these amounts may be used for administration."



Explanation

(This amendment provides $10.0 million the first year from the general fund to create and fund the Virginia Clean Energy Innovation Bank to help finance climate initiatives across Virginia with low-rate financing issued by the U.S. Department of Energy pursuant to Senate Bill 729.)