The Clean Energy Victory Bond Act of 2023 directs the Treasury Secretary to issue savings bonds called Clean Energy Victory Bonds, which Americans can voluntarily purchase to fund clean energy projects. The bonds would be issued similarly to traditional Series EE savings bonds in denominations starting at $25, with an annual issuance limit of $50 billion, and would pay interest at rates set by the Treasury plus an additional return based on energy savings and loan interest from funded projects. Money raised through bond sales would be deposited into a new Clean Energy Victory Bonds Trust Fund and spent on various clean energy initiatives including renewable energy deployment, energy efficiency improvements, electric vehicle infrastructure, grid enhancements, research and development, and zero-emission vehicle manufacturing. The bill requires that at least 40 percent of annual expenditures benefit disadvantaged and vulnerable communities bearing disproportionate burdens of pollution and climate change. The Treasury would have six months from enactment to begin issuing the bonds and would conduct promotional campaigns to encourage public participation in this voluntary financing mechanism.
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