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Committee urges restoring Green Bank funds tied to BEPS; discretionary reductions split for reconciliation
Summary
A joint T&E/GO committee recommended maintaining the energy-tax transfer tied to the Montgomery County Green Bank and placed the remainder of the executive—s proposed reduction into two reconciliation tranches to preserve funding for building energy performance standards work.
A joint committee of the County Council recommended that the council maintain the elected 10% transfer tied to the county—s energy tax to the Montgomery County Green Bank and split the executive-recommended discretionary reduction into two tranches for later reconciliation.
Why it matters: Council members stressed that the Green Bank—s funding helps leverage private capital and underpins compliance and financing tools for the county—s Building Energy Performance Standards (BEPS). Councilmember Glass said restoring the Green Bank transfer is essential to implementing BEPS and other energy-efficiency work.
Committee action: The committee accepted the executive—s adjustment tied to the energy tax projection for FY26 and recommended that the remaining $2.29 million discretionary reduction be treated as two separate tranches on the reconciliation list. The committee noted that the 10% connection to the energy tax is a previously made commitment and that restoring funding will support the Green Bank—s accelerated deployment.
Green Bank perspective: Green Bank representatives said activity and private leverage have accelerated and that funding stability is critical to support the BEPS market. The Green Bank noted an additional federal grant (Greenhouse Gas Reduction Fund) is in litigation and not yet available for deployment.
Ending: The committee—s approach preserves the statutorily tied transfer to the Green Bank while allowing the council to consider restoration of discretionary reductions during reconciliation votes; the committee vote to accept the executive—s energy-tax projection adjustment was unanimous.
