HB 2509: Virginia Clean Energy Innovation Bank; established, report.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Virginia Clean Energy Innovation Board established; report. Continues the Virginia Clean Energy Innovation Bank (the Bank) as a division of the Department of Energy to implement the provisions of the bill and approve expenditures and disbursements from the Virginia Clean Energy Innovation Fund. The bill describes the powers of duties of the Bank and requires certain lending practices. The bill requires the Bank to develop and adopt a strategic plan biennially starting in 2025 to develop programs to overcome market impediments through access to Bank financing and technical assistance and outreach and marketing strategies designed to make potential project developers, participants, and communities aware of financing and technical assistance available from the Bank. The bill requires the Bank to adopt a long-term investment strategy by December 15, 2025, and every four years thereafter. The bill requires the bank to maintain a public website and submit an annual report to the Governor and General Assembly. The bill also creates an Advisory Board and specifies how initial appointments of nonlegislative citizen members shall be staggered and made.

Sponsors

Sponsors by party (alphabetical): Democratic 3

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. February 17, 2025Passed by indefinitely in Finance and Appropriations (13-Y 0-N 1-A)
2. February 10, 2025Reported from Commerce and Labor and rereferred to Finance and Appropriations (9-Y 6-N)
3. February 10, 2025Fiscal Impact Statement from Department of Planning and Budget (HB2509)
4. February 5, 2025Referred to Committee on Commerce and Labor
5. February 5, 2025Constitutional reading dispensed (on 1st reading)
6. February 4, 2025Read third time and passed House (52-Y 46-N)
7. February 3, 2025Engrossed by House - committee substitute
8. February 3, 2025Labor and Commerce Substitute agreed to
9. February 3, 2025Read second time
10. February 2, 2025Read first time
11. January 31, 2025Reported from Appropriations (12-Y 10-N)
12. January 31, 2025Assigned Approps sub: Commerce Agriculture & Natural Resources

Showing 12 most recent of 18 actions. Full history