Rabb announces legislation to assist municipalities in establishing green banks
HARRISBURG, Nov. 28 – State Rep. Chris Rabb, D-Phila., announced today he is drafting legislation that would empower municipalities to utilize funding and investment in green banks.
As part of the federal government’s Inflation Reduction Act, the $27 billion Greenhouse Gas Reduction Fund will go toward providing financial assistance to green banks, which are nonprofit organizations focused on the deployment of low- and zero-emission products, technologies and services.
Pennsylvania needs to ensure it is well-positioned to capitalize on the opportunity, Rabb said.
“The Pennsylvania Constitution enshrines the right to clean air, pure water, and to the preservation of the natural, scenic, historic and esthetic values of the environment,” he said. “Pennsylvania’s public natural resources are the common property of all the people, including generations yet to come. Therefore, it is our collective duty to conserve and maintain our natural resources.”