Bill > HR5424

This bill establishes the Community Economic Development Transmission Fund to support local communities that host large electric transmission line projects. The fund will be created in the U.S. Treasury and will be financed by a portion of the interest collected from specific loans related to transmission infrastructure projects capable of transmitting 999 megawatts or more. Host communities, which can be local governments or Native American tribes where transmission projects are located, can receive payments from the fund up to 18 months after project construction begins. These communities must use at least 20% of the funds for conservation, stewardship, and recreation purposes, such as restoring wildlife habitats, improving public land access, or supporting climate resilience initiatives. The remaining 80% can be used for community support services like improving infrastructure, expanding broadband access, supporting workforce training, or enhancing public services like schools, libraries, and transportation. The Secretary of Energy will manage the fund, develop a payment formula that considers community impacts, and provide annual reports to Congress about fund operations, including details about which communities received payments and for what projects. The bill aims to provide financial support and flexibility to communities hosting significant transmission infrastructure, recognizing their role in advancing energy development.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/5424/all-info