To amend the Bank Holding Company Act of 1956 to prohibit bank holding companies from facilitating fossil fuel production from new sources, or from facilitating transactions that would provide funds for the construction of new or expanded fossil infrastructure that would drive such production, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Bank Holding Company Act of 1956 to prohibit bank holding companies from facilitating fossil fuel production from new sources, or from facilitating transactions that would provide funds for the construction of new or expanded fossil infrastructure that would drive such production, and for other purposes., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers. The main policy domain is Energy, Finance, Foreign Policy.
Who Benefits and How
energy producers, utilities, and energy consumers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, energy producers, utilities, and energy consumers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Protecting America's Economy from the Carbon Bubble Act of 2023.
- Section id58C7FD3633D24955AD3B2031B5D4D692: 2. Prohibition on facilitating fossil fuel production from new sources The Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) is amended by adding at...
- Section id2D360CC3E0584055947C060905E7C2BF: 15. Prohibition on facilitating fossil fuel production from new sources In this section— the terms exchange, issuer, and security have the meanings given those...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Bank Holding Company Act of 1956 to prohibit bank holding companies from facilitating fossil fuel production from new sources, or from facilitating transactions that would provide funds for the construction of new or expanded fossil infrastructure that would drive such production, and for other purposes., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Key Policy Areas
Energy, Finance, Foreign Policy
Primary Purpose
This bill, To amend the Bank Holding Company Act of 1956 to prohibit bank holding companies from facilitating fossil fuel production from new sources, or from facilitating transactions that would provide funds for the construction of new or expanded fossil infrastructure that would drive such production, and for other purposes., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Policy Domains
Whole bill
Identified Gains
- energy producers, utilities, and energy consumers
Identified Costs
- federal implementing agencies
- energy producers, utilities, and energy consumers
Sponsors
Legislative Progress
IntroducedMr. Merkley introduced the following bill; which was read twice …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
Key Definitions
Terms defined in this bill
extractive or production activities that result in fossil fuels being made available for refining or use
extractive or production activities that result in fossil fuels being made available for refining or use
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology