{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-958.3_1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-958.3_1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-958.3_1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-958.3_1.html"}],"law_id":72340,"edition_id":1,"section_id":72340,"structure_id":13545,"section_number":"15.2-958.3:1","catch_line":"Local green banks","history":"2021, Sp. Sess. I, c. 405.","full_text":"A\n\nAs used in this section, “clean energy technologies” means energy resources and emerging technologies that have significant potential for commercialization and do not involve (i) the combustion of coal, petroleum or petroleum products, or municipal solid waste or (ii) nuclear fission. “Clean energy technologies” includes renewable energy sources, projects, and infrastructure; energy efficiency projects; alternative fuels used for electricity generation; alternative fuel vehicles and related infrastructure such as electric vehicle charging station infrastructure; and smart grid.B\n\nAny locality may, by ordinance, establish a green bank to promote the investment in clean energy technologies in its locality and provide financing for clean energy technologies. Such ordinance may include the following functions for a green bank:1\n\nFinance investment or financial support of investment in clean energy technologies to foster the growth and development of renewable energy sources;2\n\nStimulate the demand for renewable energy and the deployment of clean energy technologies that serve end-use customers;3\n\nBefore making any loan, loan guarantee, or other form of financing support for clean energy technologies, develop rules, policies, and procedures to specify borrower eligibility and any other term or condition of financial support;4\n\nProvide financing or financial support for clean energy technologies;5\n\nDevelop consumer protection standards for investments to ensure that the green bank and its partners are lending in a transparent and responsible manner that is in the financial interests of the borrowers; and6\n\nUndertake any other activity as needed to support the mission of the green bank.C\n\nIn establishing a green bank, the locality shall determine whether the green bank will be a public entity, quasi-public entity, depository bank, or nonprofit entity.D\n\nThe locality shall offer private lending institutions the opportunity to participate in the green bank established pursuant to this section.E\n\nPrior to the adoption of any ordinance pursuant to this section, the locality shall conduct a public hearing at which interested persons may object to or inquire about the proposed green bank or any of its particulars. The public hearing shall be advertised once a week for two successive weeks in a newspaper of general circulation in the locality.","order_by":null,"text":{"0":{"id":260572,"text":"As used in this section, “clean energy technologies” means energy resources and emerging technologies that have significant potential for commercialization and do not involve (i) the combustion of coal, petroleum or petroleum products, or municipal solid waste or (ii) nuclear fission. “Clean energy technologies” includes renewable energy sources, projects, and infrastructure; energy efficiency projects; alternative fuels used for electricity generation; alternative fuel vehicles and related infrastructure such as electric vehicle charging station infrastructure; and smart grid.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":260573,"text":"Any locality may, by ordinance, establish a green bank to promote the investment in clean energy technologies in its locality and provide financing for clean energy technologies. Such ordinance may include the following functions for a green bank:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":260574,"text":"Finance investment or financial support of investment in clean energy technologies to foster the growth and development of renewable energy sources;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":260575,"text":"Stimulate the demand for renewable energy and the deployment of clean energy technologies that serve end-use customers;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":260576,"text":"Before making any loan, loan guarantee, or other form of financing support for clean energy technologies, develop rules, policies, and procedures to specify borrower eligibility and any other term or condition of financial support;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":260577,"text":"Provide financing or financial support for clean energy technologies;","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"6":{"id":260578,"text":"Develop consumer protection standards for investments to ensure that the green bank and its partners are lending in a transparent and responsible manner that is in the financial interests of the borrowers; and","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"B6"},"7":{"id":260579,"text":"Undertake any other activity as needed to support the mission of the green bank.","type":"section","prefixes":["B","6"],"prefix":"6","entire_prefix":"B6","prefix_anchor":"B6","level":2,"prior_prefix":"B5","next_prefix":"C"},"8":{"id":260580,"text":"In establishing a green bank, the locality shall determine whether the green bank will be a public entity, quasi-public entity, depository bank, or nonprofit entity.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B6","next_prefix":"D"},"9":{"id":260581,"text":"The locality shall offer private lending institutions the opportunity to participate in the green bank established pursuant to this section.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"10":{"id":260582,"text":"Prior to the adoption of any ordinance pursuant to this section, the locality shall conduct a public hearing at which interested persons may object to or inquire about the proposed green bank or any of its particulars. The public hearing shall be advertised once a week for two successive weeks in a newspaper of general circulation in the locality.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":13545,"edition_id":1,"name":"Additional Powers","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13058,"metadata":{},"date_created":"2026-06-26 03:45:10","date_modified":"2026-06-26 03:45:10","permalink":{"id":156673,"object_type":"structure","relational_id":13545,"identifier":"5","token":"15.2\/II\/9\/5","url":"\/15.2\/II\/9\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13058,"edition_id":1,"name":"General Powers of Local Governments","identifier":"9","label":"chapter","depth":3,"order_by":1,"parent_id":12733,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":156357,"object_type":"structure","relational_id":13058,"identifier":"9","token":"15.2\/II\/9","url":"\/15.2\/II\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12733,"edition_id":1,"name":"Powers of Local Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":152369,"object_type":"structure","relational_id":12733,"identifier":"II","token":"15.2\/II","url":"\/15.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59834,"structure_id":13545,"section_number":"15.2-950","catch_line":"Appropriations","url":"\/15.2-950\/","token":"15.2\/II\/9\/5\/15.2-950","metadata":false},{"id":82496,"structure_id":13545,"section_number":"15.2-951","catch_line":"Acquisition, disposition and use of personal property by localities generally","url":"\/15.2-951\/","token":"15.2\/II\/9\/5\/15.2-951","metadata":false},{"id":80950,"structure_id":13545,"section_number":"15.2-952","catch_line":"Political subdivisions may acquire property from United States","url":"\/15.2-952\/","token":"15.2\/II\/9\/5\/15.2-952","metadata":false},{"id":56590,"structure_id":13545,"section_number":"15.2-953","catch_line":"Donations to charitable institutions and associations, volunteer and nonprofit organizations, chambers of commerce, etc","url":"\/15.2-953\/","token":"15.2\/II\/9\/5\/15.2-953","metadata":false},{"id":72872,"structure_id":13545,"section_number":"15.2-954","catch_line":"Loans to volunteer firefighting and rescue organizations","url":"\/15.2-954\/","token":"15.2\/II\/9\/5\/15.2-954","metadata":false},{"id":69377,"structure_id":13545,"section_number":"15.2-954.1","catch_line":"Volunteer firefighter or volunteer emergency medical services personnel tuition reimbursement","url":"\/15.2-954.1\/","token":"15.2\/II\/9\/5\/15.2-954.1","metadata":false},{"id":69752,"structure_id":13545,"section_number":"15.2-955","catch_line":"Approval by local governing body for the establishment of volunteer emergency medical services agencies and firefighting organizations","url":"\/15.2-955\/","token":"15.2\/II\/9\/5\/15.2-955","metadata":false},{"id":65390,"structure_id":13545,"section_number":"15.2-956","catch_line":"Participation in certain federal development programs","url":"\/15.2-956\/","token":"15.2\/II\/9\/5\/15.2-956","metadata":false},{"id":87224,"structure_id":13545,"section_number":"15.2-957","catch_line":"Participation by localities in certain leasing programs","url":"\/15.2-957\/","token":"15.2\/II\/9\/5\/15.2-957","metadata":false},{"id":63172,"structure_id":13545,"section_number":"15.2-958","catch_line":"Local funding for repair or production of low and moderate income rental property or repair of residential property; 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A.<\/span> As used in this section, “clean energy technologies<\/span>” means energy resources and emerging technologies that have significant potential for commercialization and do not involve (i) the combustion of coal, petroleum or petroleum products, or municipal solid waste or (ii) nuclear fission. “Clean energy technologies<\/span>” includes renewable energy sources, projects, and infrastructure; energy efficiency projects; alternative fuels used for electricity generation; alternative fuel vehicles and related infrastructure such as electric vehicle charging station infrastructure; and smart grid. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Any locality<\/span> may, by ordinance<\/span>, establish a green bank to promote the investment in clean energy technologies<\/span> in its locality<\/span> and provide financing for clean energy technologies<\/span>. Such ordinance<\/span> may include the following functions for a green bank: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Finance investment or financial support of investment in clean energy technologies<\/span> to foster the growth and development of renewable energy sources; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Stimulate the demand for renewable energy and the deployment of clean energy technologies<\/span> that serve end-use customers; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Before making any loan, loan guarantee, or other form of financing support for clean energy technologies<\/span>, develop rules, policies, and procedures to specify borrower eligibility and any other term or condition of financial support; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Provide financing or financial support for clean energy technologies<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Develop consumer protection standards for investments to ensure that the green bank and its partners are lending in a transparent and responsible manner that is in the financial interests of the borrowers; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Undertake any other activity as needed to support the mission of the green bank. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> In establishing a green bank, the locality<\/span> shall determine whether the green bank will be a public entity, quasi-public entity, depository bank, or nonprofit entity. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The locality<\/span> shall offer private lending institutions the opportunity to participate in the green bank established pursuant to this section. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Prior to the adoption of any ordinance<\/span> pursuant to this section, the locality<\/span> shall conduct a public hearing<\/span> at which interested persons may object<\/span> to or inquire about the proposed green bank or any of its particulars. The public hearing<\/span> shall be advertised once a week for two successive weeks in a newspaper of general circulation in the locality<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLOCAL GREEN BANKS (\u00a7 15.2-958.3:1)\n\nA. As used in this section, “clean energy technologies” means energy\nresources and emerging technologies that have significant potential for\ncommercialization and do not involve (i) the combustion of coal, petroleum or\npetroleum products, or municipal solid waste or (ii) nuclear fission.\n“Clean energy technologies” includes renewable energy sources,\nprojects, and infrastructure; energy efficiency projects; alternative fuels used\nfor electricity generation; alternative fuel vehicles and related infrastructure\nsuch as electric vehicle charging station infrastructure; and smart grid.\n\nB. Any locality may, by ordinance, establish a green bank to promote the\ninvestment in clean energy technologies in its locality and provide financing\nfor clean energy technologies. Such ordinance may include the following\nfunctions for a green bank:\n\n 1. Finance investment or financial support of investment in clean energy\n technologies to foster the growth and development of renewable energy sources;\n\n 2. Stimulate the demand for renewable energy and the deployment of clean\n energy technologies that serve end-use customers;\n\n 3. Before making any loan, loan guarantee, or other form of financing support\n for clean energy technologies, develop rules, policies, and procedures to\n specify borrower eligibility and any other term or condition of financial\n support;\n\n 4. Provide financing or financial support for clean energy technologies;\n\n 5. Develop consumer protection standards for investments to ensure that the\n green bank and its partners are lending in a transparent and responsible\n manner that is in the financial interests of the borrowers; and\n\n 6. Undertake any other activity as needed to support the mission of the green\n bank.\n\nC. In establishing a green bank, the locality shall determine whether the green\nbank will be a public entity, quasi-public entity, depository bank, or nonprofit\nentity.\n\nD. The locality shall offer private lending institutions the opportunity to\nparticipate in the green bank established pursuant to this section.\n\nE. Prior to the adoption of any ordinance pursuant to this section, the locality\nshall conduct a public hearing at which interested persons may object to or\ninquire about the proposed green bank or any of its particulars. The public\nhearing shall be advertised once a week for two successive weeks in a newspaper\nof general circulation in the locality.\n\nHISTORY: 2021, Sp. Sess. I, c. 405.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}