Appendix B: Extract IRA SECTION 60103 – GREENHOUSE GAS REDUCTION FUND

SEC. 60103. GREENHOUSE GAS REDUCTION FUND.
The Clean Air Act is amended by inserting after section 133 of such Act, as added by
section 60102 of this Act, the following:
“SEC. 134. GREENHOUSE GAS REDUCTION FUND.

“(a) APPROPRIATIONS.—
“(1) ZERO-EMISSION TECHNOLOGIES.—In addition to amounts otherwise available,
there is appropriated to the Administrator for fiscal year 2022, out of any money in the Treasury
not otherwise appropriated, $7,000,000,000, to remain available until September 30, 2024, to
make grants, on a competitive basis and beginning not later than 180 calendar days after the date
of enactment of this section, to States, municipalities, Tribal governments, and eligible recipients
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, as determined appropriate by the
Administrator in accordance with this section.
“(2) GENERAL ASSISTANCE.—In addition to amounts otherwise available, there is
appropriated to the Administrator for fiscal year 2022, out of any money in the Treasury not
otherwise appropriated, $11,970,000,000, to remain available until September 30, 2024, to make
grants, on a competitive basis and beginning not later than 180 calendar days after the date of
enactment of this section, to eligible recipients for the purposes of providing financial assistance
and technical assistance in accordance with subsection (b).
“(3) LOW-INCOME AND DISADVANTAGED COMMUNITIES.—In addition to
amounts otherwise available, there is appropriated to the Administrator for fiscal year 2022, out
of any money in the Treasury not otherwise appropriated, $8,000,000,000, to remain available
until September 30, 2024, to make grants, on a competitive basis and beginning not later than
180 calendar days after the date of enactment of this section, to eligible recipients for the
purposes of providing financial assistance and technical assistance in low-income and
disadvantaged communities in accordance with subsection (b).
“(4) ADMINISTRATIVE COSTS.—In addition to amounts otherwise available, there is
appropriated to the Administrator for fiscal year 2022, out of any money in the Treasury not
otherwise appropriated, $30,000,000, to remain available until September 30, 2031, for the
administrative costs necessary to carry out activities under this section.

“(b) USE OF FUNDS.—An eligible recipient that receives a grant pursuant to subsection
(a) shall use the grant in accordance with the following:
“(1) DIRECT INVESTMENT.—The eligible recipient shall—

“(A) provide financial assistance to qualified projects at the national, regional, State, and
local levels;
“(B) prioritize investment in qualified projects that would otherwise lack access to
financing; and
“(C) retain, manage, recycle, and monetize all repayments and other revenue received from
fees, interest, repaid loans, and all other types of financial assistance provided using grant funds
under this section to ensure continued operability.
“(2) INDIRECT INVESTMENT.—The eligible recipient shall provide funding and
technical assistance to establish new or support existing public, quasi-public, not-for-profit, or
nonprofit entities that provide financial assistance to qualified projects at the State, local,
territorial, or Tribal level or in the District of Columbia, including community- and low-incomefocused
lenders and capital providers.

“(c) DEFINITIONS.—In this section:
“(1) ELIGIBLE RECIPIENT.—The term ‘eligible recipient’ means a nonprofit
organization that—
“(A) is designed to provide capital, leverage private capital, and provide other forms of
financial assistance for the rapid deployment of low- and zero-emission products, technologies,
and services;
“(B) does not take deposits other than deposits from repayments and other revenue received
from financial assistance provided using grant funds under this section;
“(C) is funded by public or charitable contributions; and
“(D) invests in or finances projects alone or in conjunction with other investors.
“(2) GREENHOUSE GAS.—The term ‘greenhouse gas’ means the air pollutants carbon
dioxide, hydrofluorocarbons, methane, nitrous oxide, perfluorocarbons, and sulfur hexafluoride.
“(3) QUALIFIED PROJECT.—The term ‘qualified project’ includes any project, activity,
or technology that—
“(A) reduces or avoids greenhouse gas emissions and other forms of air pollution in
partnership with, and by leveraging investment from, the private sector; or
“(B) assists communities in the efforts of those communities to reduce or avoid greenhouse
gas emissions and other forms of air pollution.
“(4) ZERO-EMISSION TECHNOLOGY.—The term ‘zero-emission technology’ means
any technology that produces zero emissions of—

“(A) any air pollutant that is listed pursuant to section 108(a) (or any precursor to such an
air pollutant); and
“(B) any greenhouse gas.”.