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Council allows Green Bank to use fuel/energy tax revenue for resiliency projects
Summary
The council unanimously approved Bill 2‑26 to permit Montgomery County Green Bank fuel/energy tax revenues to be used for resiliency activities in addition to clean energy projects; members asked for continued oversight and noted the Green Bank now manages roughly $230 million in assets.
The Montgomery County Council voted to permit the Montgomery County Green Bank to use fuel and energy tax revenues for climate resiliency projects in addition to clean‑energy retrofit projects, approving Bill 2‑26 on a roll call vote.
Chair of the Transportation and Environment Committee Evan Glass summarized the committee recommendation, and council discussion focused on oversight and reporting to ensure the funds support county climate goals. Councilmember Lorien Sales asked for annual updates on how the Green Bank plans to spend the funds; council staff noted the Green Bank already has an annual reporting requirement to the council and executive by December 31.
Co‑lead sponsors said the Green Bank has evolved since its initial capitalization with a one‑time infusion of about $10,000,000 from the Pepco‑Exelon merger and now manages approximately $230,000,000 in assets under management, allowing it to leverage federal and private funds. Sponsor Andrew Fritzson said authorizing resiliency uses would “complement” existing green work rather than supplant it and highlighted a commitment to prioritizing community equity index areas for a portion of funding.
The council adopted the T&E Committee recommendation and approved the bill by roll call; the president announced the measure was approved unanimously by members present.
What happens next: The bill will proceed to standard post‑adoption steps. T&E committee oversight and the council budget process will continue to review Green Bank allocations and outcomes.
