SB225
Virginia Clean Energy Innovation Bank; created, report.
Status:
In Senate
Latest Action:
Feb. 5, 2026
Senate: Reported from Finance and Appropriations with substitute (15-Y 0-N)
Chief Patron:
Scott Surovell (D)
Session:
2026 Regular Session
Summary
As Introduced. Virginia Clean Energy Innovation Bank; established; report.
Creates the Virginia Clean Energy Innovation Bank to finance clean energy projects, greenhouse gas emissions reduction projects, and other qualified projects through the strategic deployment of public funds in the form of grants, loans, credit enhancements, and other financing mechanisms. The Bank is governed by a 12-member Board of Directors, ... (More) consisting of nine nonlegislative citizen members and three ex officio members with voting privileges, who include the Director of the Department of Energy, the Chief Executive Officer of the Virginia Economic Development Partnership Authority, and the State Treasurer, or their designees. The bill contains provisions for (i) the appointment of a president and the hiring of staff, (ii) the powers and duties of the Bank, (iii) lending practices, (iv) a strategic plan, (v) an investment strategy, (vi) public outreach requirements, (vii) audits, (viii) exemptions from taxes and from personnel and procurement procedures, and (ix) reporting requirements. (Less)-
Bill History
- 01/10/2026 - Senate: Prefiled and ordered printed; Offered 01-14-2026 26100610D
- 01/10/2026 - Senate: Referred to Committee on General Laws and Technology
- 01/21/2026 - Senate: Rereferred from General Laws and Technology to Finance and Appropriations (14-Y 0-N)
- 01/21/2026 - Senate: Rereferred to Finance and Appropriations
- 02/02/2026 - Senate: Fiscal Impact Statement from Department of Planning and Budget (SB225)
- 02/05/2026 - Senate: Reported from Finance and Appropriations with substitute (15-Y 0-N)
