Sec. 9. Federal facility energy efficiency and renewable energy projects fund
472 words·~2 min read·
/bill/113/hr/472/ih/section-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is established in the Treasury of the United States a revolving fund, to be known as the Federal Facility Energy Efficiency and Renewable Energy Projects Fund (referred to in this section as the Fund ), consisting of such amounts as are appropriated to the Fund under subsection (b). There are authorized to be appropriated to the Fund $500,000,000, to remain available until expended. There are appropriated to the Fund, out of funds of the Treasury not otherwise appropriated, amounts equivalent to loan amounts repaid and received in the Treasury under subsection (e).
Subject to paragraph (2), on request by the Secretary of Energy (referred to in this section as the Secretary ), the Secretary of the Treasury shall transfer from the Fund to the Secretary such amounts as the Secretary determines are necessary to provide assistance for energy efficiency and renewable energy projects carried out at Federal facilities in accordance with subsection (e). An amount not exceeding 10 percent of the amounts in the Fund shall be available for each fiscal year to pay the administrative expenses necessary to carry out this section.
The amounts required to be transferred to the Fund under this section shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury. Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred. The Secretary shall establish a Federal facility energy efficiency and renewable energy projects fund program under which the Secretary shall make loans to Executive agencies to assist the agencies in reducing energy use and related purposes, as determined by the Secretary.
Not later than 180 days after the date of enactment of this Act, the Secretary shall issue guidelines for Executive agencies to submit applications for loans under this subsection. Each Executive agency shall be eligible to submit an application for a loan under this subsection. The Secretary shall award loans under this subsection on a competitive basis. The Secretary shall convene a committee of Executive agencies to determine allocation from the Fund to carry out this subsection after a competitive assessment of the technical and economic effectiveness of each application for a loan under this subsection.
In determining whether to provide a loan to an Executive agency for a project under this subsection, the Secretary shall consider— the cost-effectiveness of the project; the amount of energy and cost savings anticipated to the Federal Government; the amount of funding committed to the project by the agency; the extent that a project will leverage financing from other non-Federal sources; and any other factor that the Secretary determines will result in the greatest amount of energy and cost savings to the Federal Government.