(HB1444) GOVERNOR'S RECOMMENDATION 1.
Virginia2026Enacted
HB1444
Virginia Clean Energy Innovation Bank Act
Last scannedAug 22, 2026, 5:26 AM
In one sentence
This act establishes the Virginia Clean Energy Innovation Bank to finance clean energy projects, reduce greenhouse gas emissions, and provide financial support for other qualified initiatives.
What it does
- Establishes the Virginia Clean Energy Innovation Bank within the state government to finance clean energy projects and reduce greenhouse gas emissions.
- Sets up an advisory board with eight members (six non-legislative citizens and two ex officio members) to oversee the bank's operations and provide recommendations.
- Defines key terms such as 'qualified project,' 'greenhouse gas emissions,' and 'renewable energy' for clarity in implementing the act.
- Requires the Bank to develop a strategic plan, an investment strategy, and public outreach requirements to ensure transparency and effectiveness.
Who it affects
- The state government of Virginia through the establishment of the new bank within its Department.
- Clean energy project developers who can apply for funding from the bank.
Limits and unknowns
- The bill does not specify the exact amount of funding available for the Bank.
- It is unclear how the advisory board will be selected or what specific criteria they must meet beyond expertise in relevant areas.
Plain language
Terms to know
- Qualified Project
- A project, technology, product, service, or measure promoting energy efficiency, clean energy, electrification, water conservation and quality, which substantially reduces greenhouse gas emissions or increases the deployment of renewable or non-carbon emitting energy projects.
- Greenhouse Gas Emissions
- Emissions of gases such as carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons, and sulfur hexafluoride emitted by human activities.
Official record
Sources
Official summary
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. An advisory board consisting of nonlegislative citizen members and ex officio members shall oversee the Bank and provide recommendations related to the Bank and its effectiveness. The bill contains provisions for (i) the powers and duties of the Bank, (ii) lending practices, (iii) a strategic plan, (iv) an investment strategy, (v) public outreach requirements, (vi) audits, and (vii) reporting requirements. This bill is identical to SB 225.
Official activity
Bill history
- Approved by Governor-Chapter 1125 (effective 7/1/2026)Governor
- Acts of Assembly Chapter text (CHAP1125)Governor
- Governor's recommendation adoptedGovernor
- Signed by SpeakerHouse
- Signed by PresidentSenate
- Communicated to GovernorHouse
- Governor's Action Deadline 11:59 p.m., May 23, 2026Governor
- ReenrolledHouse
- Reenrolled bill text (HB1444ER2)House
- House concurred in Governor's recommendation (65-Y 34-N 0-A)House
- Senate concurred in Governor's recommendation nos 4 - 8 (39-Y 0-N 0-A)Senate
- Governor's recommendation nos 1 - 3 passed by (Voice Vote)Senate
- Governor's recommendation received by HouseGovernor
- Fiscal Impact Statement from Department of Planning and Budget (HB1444)House
- Enrolled Bill communicated to Governor on March 31, 2026House
- Governor's Action Deadline 11:59 p.m., April 13, 2026Governor
- Enrolled Bill communicated to Governor on March 31, 2026House
- Governor's Action Deadline 11:59 p.m., April 13, 2026Governor
- Signed by SpeakerHouse
- Enrolled Bill communicated to Governor on March 31, 2026House
Changes
Amendments
4 stored
OFFERED FOR CONSIDERATION 2/11/2026 HB 1444 SUBCOMMITTEE 1.
2/11/2026 HB 1444 APPROPRIATIONS 1.
2/11/2026 HB 1444 SUBCOMMITTEE 1.