Protecting America's Economy from the Carbon Bubble Act of 2020

Summary

Protecting America's Economy from the Carbon Bubble Act of 2020 This bill prohibits certain financial companies (including bank holding companies, savings and loan holding companies, and insured depository institutions) from involvement in fossil fuel production. Prohibited activities include providing loans to and making investments in fossil fuel companies or projects, facilitating transactions that funds new fossil fuel production, securitizing assets that provide funds for new fossil fuel production, and entering into certain derivatives transactions related to new fossil fuel production. Violators are subject to criminal and civil penalties.

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Timeline

1. 21 October 2020

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 21 October 2020

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 21 October 2020 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 21 October 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 21 October 2020

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 21 October 2020

  Open at official source

Sponsors

• Jeff Merkley · D · Sponsor
• · ssbk00 · Standing

Related records

No cross-record relationships stored yet.