S. 4183 · 117th Congress
National Energy Community Transition Act of 2022
- Stage
- In committee
- Sponsor
- Michael Bennet
- Introduced
- 2022-05-11
- Latest action
- 2022-05-11 · Introduced in Senate
Summary
National Energy Community Transition Act of 2022
This bill establishes a federally chartered nonprofit corporation to assist communities that have historically relied on fossil fuel energy generation or extraction with transitioning away from that reliance.
The bill also endows the corporation initially with funds from the Treasury and then with a percentage of amounts received by the Treasury each year from fossil fuel and renewable energy leases on federal land. The corporation is responsible for investing its endowment and using a portion of the earnings to fund activities to assist communities with economic development and diversification and the provision of government services.