Agency: Environmental Protection Agency
Description:
Grants to hub nonprofits to provide funding and technical assistance to public, quasi-public, not-for-profit, and nonprofit community lenders to finance clean technology deployment in low-income and disadvantaged communities.
Bill Section:
60103(a)(3)
US Code:
42 USC 7434
New or Existing:
New
Potential Cost:
$6,000,000,000
Timeline:
FY22-24
Implementation Status/Rulemaking:
On July 14, 2023, EPA issued a Notice of Funding Opportunity for the Clean Communities Investment Accelerator competition. Applications were due October 12, 2023. EPA anticipates awarding grants to 2–7 hub nonprofits and plans to have all awards finalized by September 30, 2024: Source
TCS Notes:
The legislative text appropriated Section 60103 funding ($27 billion total) into the following buckets: $7 billion for grants for States, municipalities, Tribal governments, and nonprofit organizations for the purposes of providing grants, loans, or other forms of financial assistance, as well as technical assistance, to enable low- income and disadvantaged communities to deploy or benefit from zero-emission technologies, including distributed technologies on residential rooftops, and to carry out other greenhouse gas emission reduction activities; $11.97 billion for grants to nonprofit organizations for the purposes of providing financial and technical assistance to projects that reduce or avoid greenhouse gas emissions and other forms of air pollution; $8 billion for grants to nonprofit organizations for the purposes of providing financial and technical assistance to projects that reduce or avoid greenhouse gas emissions and other forms of air pollution in low-income and disadvantaged communities; and $30 million for administrative costs.
The Clean Communities Investment Accelerator is funded with $6 billion of the $8 billion provided in Section 60103(a)(3) for grants to nonprofit organizations to reduce greenhouse gas emissions in low-income and disadvantaged communities. Click here for more information on the Greenhouse Gas Reduction Fund Framework: Source