S 174

 BILL AS INTRODUCED  S.174
 2026  Page 1 of 3
1S.174
2 Introduced by Senator Watson
3 Referred to Committee on
4 Date:
5 Subject: Finance; climate mitigation infrastructure; clean energy; agriculture;
6farming; funding and investment; Treasurer; study
7 Statement of purpose of bill as introduced: This bill proposes to require the
8 State Treasurer to conduct a study of Green Bank models existing in other
9 jurisdictions and determine whether implementation of any elements of these
10 models in Vermont would promote and accelerate investment in climate
11 mitigation infrastructure, agriculture, and farming.
12    An act relating to the study of Green Bank models to support and accelerate
13    investments in climate mitigation infrastructure, farming, and agriculture in
14    Vermont
15 It is hereby enacted by the General Assembly of the State of Vermont:
16 Sec. 1. TREASURER STUDY OF GREEN BANK MODELS
17    (a) The Treasurer shall conduct a study of Green Bank models
18 implemented in other jurisdictions to determine whether and, if so, how
19 implementation of any elements of such models in Vermont would benefit the
20 State by facilitating and accelerating investment in climate mitigation
21 infrastructure, farming, and agriculture in a manner consistent with State goals
                                                                   VT LEG #385940 v.3
 BILL AS INTRODUCED  S.174
 2026  Page 2 of 3
1 and policies. The basis of this study shall reflect “recommendation five” in the
2 Treasurer’s Climate Infrastructure Financing Report of 2024. Accordingly, the
3 Treasurer shall consider the creation of a stand-alone financing entity, a Green
4 Bank, or the provision of Green Bank–like authority to one or more existing
5 State entities. As used in this section, “Green Bank” has the same meaning as
6 used in the above-referenced report and, in addition, also includes the
7 financing of farming and agricultural projects. Specifically, “Green Bank”
8 means an entity that functions like a loan or investment fund and that uses a
9 wide array of financial tools to support and accelerate the investment in
10 climate mitigation infrastructure, farming, and agriculture.
11    (b) In conducting the study required by this section, the Treasurer shall
12 seek input from the Vermont Public Finance Climate Collaborative; the
13 Vermont Climate Council; the Secretary of Natural Resources or designee; the
14 Commissioner of Public Service or designee; the Vermont members of the
15 Coalition for Green Capital; the Secretary of Agriculture, Food, and Markets or
16 designee; and any other public or private stakeholders deemed appropriate by
17 the Treasurer. In addition, the Treasurer shall establish a mechanism for
18 receiving written public comments and shall hold at least one public hearing on
19 the Treasurer’s draft findings and recommendations before they are finalized in
20 a report to the General Assembly as required in subsection (d) of this section.
                                                                   VT LEG #385940 v.3
 BILL AS INTRODUCED  S.174
 2026  Page 3 of 3
1    (c) In designing a structure or approach that would achieve the greatest
2 effectiveness in Vermont, the Treasurer shall consider the value created; the
3 possible trade-offs; potential risks; long-term sustainability; coordination
4 among existing State entities; the short- and long-term economic impact,
5 including with regard to funds retained or recirculated within the Vermont
6 economy; opportunities for maximizing the availability of public and private
7 funds; and any other considerations deemed appropriate by the Treasurer.
8    (d) The Treasurer shall submit the Treasurer’s findings and
9 recommendations, particularly with regard to specific recommended
10 implementation strategies, in a written report to the House Committees on
11 Energy and Digital Infrastructure; on Environment; and on Agriculture, Food
12 Resiliency, and Forestry and the Senate Committees on Finance, on Natural
13 Resources and Energy, and on Agriculture on or before December 1, 2026.
14 Sec. 2. EFFECTIVE DATE
15    This act shall take effect on passage.
                                                                    VT LEG #385940 v.3