A bill to establish the Climate Change Advisory Commission to develop recommendations, frameworks, and guidelines for projects to respond to the impacts of climate change, to issue Federal obligations, the proceeds of which shall be used to fund projects that aid in adaptation to climate change, and for other purposes.
Climate Change Resiliency Fund for America Act of 2021
This bill provides support to address the impacts of climate change.
Specifically, the bill authorizes the Department of the Treasury to issue up to $1 billion in climate change obligations (e.g., bonds) in a fiscal year, with bond proceeds going into the Climate Change Resiliency Fund established by this bill. The fund must be used for a program that finances projects that reduce the economic, social, and environmental impact of the adverse effects of climate change. A percentage of those funds must be used to benefit communities that experience disproportionate impacts from climate change.
The Climate Change Advisory Commission, established by this bill, must provide recommendations and guidelines for the program and identify categories of the most cost-effective investments and projects that emphasize multiple benefits to commerce, human health, and ecosystems.
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Introduced in Senate
Read twice and referred to the Committee on Finance. (text: CR S1649-1651)
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