Energizing Our Communities Act

This bill creates the Community Economic Development Transmission Fund, which uses a portion of interest from specific federal loans (like those for major electric transmission projects under the Infrastructure Investment and Jobs Act or Inflation Reduction Act) to provide payments to host communities. Host communities - defined as local governments or tribes where transmission projects are built - receive funds within 18 months of project construction start. Communities must use 80% of the funds for local services like schools, broadband, or public infrastructure, and at least 20% for conservation, recreation, or climate resilience projects. The fund aims to support communities hosting large-scale transmission projects by directing resources toward local priorities.