Bill > HR3886

This bill, known as the Clean Energy Victory Bond Act of 2021, directs the Secretary of the Treasury to issue "Clean Energy Victory Bonds" to fund clean energy projects at the federal, state, and local levels. The bonds will be issued as savings bonds, with a total face value not exceeding $50 billion per year, and will bear interest based on savings achieved through reduced government energy spending and interest collected on loans financed or guaranteed from the bond proceeds. The bill establishes a "Clean Energy Victory Bonds Trust Fund" in the Treasury to hold the bond proceeds, which will be used to support a variety of clean energy initiatives, including additional funding for existing federal programs, clean energy investments by federal agencies, grid enhancements, building retrofits, tax incentives, and research and development. The bill also requires that at least 40% of the funds be directed to clean energy projects in disadvantaged and vulnerable communities.