Amendment ID: S3050-4-R1

Redraft Amendment 4

Massachusetts Climate Bank

Mr. Mark, Ms. Comerford, Ms. Edwards, Messrs. Keenan and Collins, Ms. Howard, Mr. Fernandes, Ms. Jehlen and Messrs. Driscoll, Oliveira, Eldridge and Finegold move that the proposed new draft be amended by inserting after section 77 the following section:- 

“SECTION 77A. (a) The executive office of energy and environmental affairs shall, in consultation with the executive office for administration and finance, issue a report and make recommendations on financial solutions and strategies to facilitate and accelerate the deployment of climate and clean energy innovations in the public, private and nonprofit sectors.

 (b) The report shall include, but not be limited to: (i) an evaluation of a climate bank to provide loans and other forms of financial support to address climate resiliency, mitigate greenhouse gas emissions and support clean energy; (ii) financial strategies to reduce adverse economic effects from transitioning to clean energy; and (iii) job creation possibilities through climate and clean energy innovations.

(c) Not later than January 1, 2027, the executive office of energy and environmental affairs shall submit a report of its findings and any recommendations for legislation to the clerks of the senate and house of representatives, the joint committee on financial services and the senate and house committees on ways and means.”