Virginia legislation · 2026 Regular Session
Virginia HB1444: An Act to amend the Code of Virginia by adding in Chapter 1 of Title 45.2 an article numbered 3, consisting of sections numbered 45.2-114 through 45.2-122, relating to Virginia Clean Energy Innovation Bank; established; report.
Status: Chaptered, May 14, 2026
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.
What the bill says
An Act to amend the Code of Virginia by adding in Chapter 1 of Title 45.2 an article numbered 3, consisting of sections numbered 45.2-114 through 45.2-122, relating to Virginia Clean Energy Innovation Bank; established; report. [H 1444] Approved May 14, 2026 1. That the Code of Virginia is amended by adding in Chapter 1 of Title 45.2 an article numbered 3, consisting of sections numbered 45.2-114 through 45.2-122, as follows: Article 3. Virginia Clean Energy Innovation Bank. § 45.2-114. Virginia Clean Energy Innovation Bank; Bank Advisory Board. A. The Virginia Clean Energy Innovation Bank is.
From the enrolled text, May 14, 2026:
An Act to amend the Code of Virginia by adding in Chapter 1 of Title 45.2 an article numbered 3, consisting of sections numbered 45.2-114 through 45.2-122, relating to Virginia Clean Energy Innovation Bank; established; report. [H 1444] Approved May 14, 2026 1. That the Code of Virginia is amended by adding in Chapter 1 of Title 45.2 an article numbered 3, consisting of sections numbered 45.2-114 through 45.2-122, as follows: Article 3. Virginia Clean Energy Innovation Bank. § 45.2-114. Virginia Clean Energy Innovation Bank; Bank Advisory Board. A. The Virginia Clean Energy Innovation Bank is established in the Department. The purpose of the Bank is to accelerate the deployment of 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 in order to leverage existing public and private sources of capital to reduce the upfront and total cost of qualified projects and to overcome financial barriers to project adoption, especially in low-income communities. B. 1. The Virginia Clean Energy Innovation Bank Advisory Board (the Bank Advisory Board) is established as an advisory board in the executive branch of state government for the purpose of advising, overseeing, and making advisory recommendations related to the Virginia Clean Energy Innovation Bank …