Local green banks; authorizes a locality, by ordinance, to establish.

Local green banks. Authorizes a locality,by ordinance, to establish a green bank to promote the investmentin clean energy technologies in its locality and provide financingfor clean energy technologies, defined in the bill. The bill establishescertain powers and functions of a green bank, including developingrules and procedures, financing and providing loans for clean energyprojects, and stimulating demand for renewable energy. The bill requiresthe green bank to be a public entity, quasi-public entity, or nonprofitentity and requires the locality to hold a hearing and publish noticein a newspaper of general circulation prior to establishing the greenbank.