Bill Proposes 'Green Bank' To Finance Cleaner Energy

Law360, New York (March 26, 2009, 12:00 AM EDT) -- A group of Democrats has introduced a bill in the U.S. House of Representatives that would create a new, independent “Green Bank” to finance cleaner energy projects in the United States.

Rep. Christopher Van Hollen, D-Md., introduced the Green Bank Act of 2009 on the House floor on Tuesday. The bill, co-sponsored by four other Democrats, aims to wean the U.S. from dependency on foreign energy, reduce the impact of climate change, ease the transition to a carbon-neutral economy and create green jobs.

The new bank...
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