Bill > S2261

This bill establishes a comprehensive framework for addressing climate change and environmental justice in Massachusetts through several interconnected funds and initiatives. The Green Infrastructure Fund will support investments in clean transportation, renewable energy, energy efficiency, and climate resilience projects, with a requirement that at least 60% of funds directly benefit environmental justice populations. A new Local Climate Crisis Investments Act will create municipal-level climate crisis councils that can recommend local green investments, with a focus on equitable representation and public input. The Green Workforce Commission will be established to support workers displaced by the transition to green technologies, ensuring they have access to training and comparable employment opportunities. A Household Green Dividend Fund will provide financial support to lower-income households (quintiles 1 and 2) to offset potential increased energy costs from market-based carbon reduction mechanisms. The bill also authorizes up to $500 million in green infrastructure and investment bonds to fund these initiatives, with special provisions to ensure the bonds can be repaid and to protect the financial interests of the commonwealth. Additionally, the legislation mandates the development of market-based compliance mechanisms for reducing greenhouse gas emissions across multiple sectors, with a focus on equity, reducing toxic emissions, and minimizing economic disruption.

Transportation and Infrastructure

https://malegislature.gov/Bills/194/S2261