HOUSE DOCKET, NO. 3684        FILED ON: 1/20/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3805

The Commonwealth of Massachusetts

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PRESENTED BY:

Dylan A. Fernandes

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act establishing the Massachusetts Green Bank.

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PETITION OF:

HOUSE DOCKET, NO. 3684        FILED ON: 1/20/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3805

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-Third General Court
(2023-2024)

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An Act establishing the Massachusetts Green Bank.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 2 of chapter 23J of the General Laws is hereby amended by striking out subsection (a) and inserting in place thereof the following section:

“(a) There is hereby established a body politic and corporate to be known as the Massachusetts clean energy technology center. The center is hereby constituted a public instrumentality and the exercise by the center of the powers conferred by this chapter shall be considered to be the performance of an essential governmental function.

The center is hereby placed in the executive office of energy and environmental affairs, but shall not be subject to the supervision or control of said office, or of any board, bureau, department or other center of the commonwealth, except as specifically provided for in this chapter.

The center shall promote and advance the commonwealth's public interests by: (i) acting as the commonwealth's lead agency, in collaboration with the Massachusetts Renewable Energy Trust Fund established in section 4E of chapter 40J, in the promotion and development of jobs in the clean energy sector; (ii) serving as the commonwealth’s Green Bank to finance and otherwise support clean energy investment in residential, municipal, small business and larger commercial projects and such others as the center may determine; (iii) promoting research and workforce training in clean energy technology at the commonwealth's public institutions of higher education, as defined in section 5 of chapter 15A, and vocational technical schools, as established in sections 14 and 15, chapter 74 or any vocational technical school that meets the programmatic requirements established by the department of elementary and secondary education; (iv) stimulating the creation and development of new clean energy ventures that will form the foundation of a strong clean energy industry sector or cluster in the commonwealth; (v) providing support to existing clean energy companies to expand their operations within the commonwealth; (vi) significantly increasing the pace and amount of clean energy ventures within the commonwealth; (vii) achieving the level of financial support needed to reach greenhouse gas emission limits pursuant to chapter 21N of the General Laws by (1) increasing zero or low carbon electricity generation and transportation capabilities; (2) realizing energy efficiency potential in existing infrastructure; (3) easing the economic effects of transitioning from a carbon-based economy to a clean energy economy, particularly in environmental justice communities; (4) achieving job creation through the construction and operation of clean energy projects; and (5) complementing and supplementing other clean energy, energy efficiency, and climate technology programs in the commonwealth; (viii) attracting new capital and research facilities from institutions outside the commonwealth; (ix) fostering collaboration between industry, state government, research universities and the financial sector to advance clean energy technology commercialization and venture development; (x) conducting market research to identify barriers to creating and expanding a clean technology industry, including job training needs; (xi) supporting demonstration projects that are evaluated by independent, third-party peer research institutions; (xii) serving as the clearinghouse for information related to the clean energy industry in the commonwealth; (xiii) promoting programs and investments through grants, loans, loan guarantees or debt and equity investments that lead to pathways towards economic self sufficiency for low and moderate-income individuals and communities in the clean energy industry; and (ixi) working with local lenders to offer low or zero interest loans to new and existing clean energy and climate technology companies or ventures including but not limited to companies or ventures that offer building decarbonization, residential solar, nonprofit solar, electric car loans and vehicle financing; and (xi) performing any other actions necessary to effectuate the state's public interests and achieve greenhouse gas emission limits pursuant to chapter 21N.”