Sec. 4001. Terms and conditions for incentives for innovative technologies
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Section 1702 of the Energy Policy Act of 2005 ( 42 U.S.C. 16512 ) is amended by adding at the end the following: In addition to the requirement in subsection (b)(1), no guarantee shall be made unless the Secretary has received from the borrower not less than 25 percent of the cost of the guarantee. The Secretary shall provide to the borrower, as soon as practicable, an estimate or range of the cost of the guarantee under paragraph (1). . Section 1702(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16512(b) ) is amended— by striking
(1)and inserting the following: In general .—No guarantee Subject to subsection (l), no guarantee ; by redesignating subparagraphs (A), (B), and
(C)as paragraphs (1), (2), and (3), respectively, and indenting appropriately; and in paragraph
(3)(as so redesignated)— by striking subparagraph
(A)and inserting paragraph
(1); and by striking subparagraph
(B)and inserting paragraph
(2). The amendments made by paragraphs
(1)and
(2)shall take effect on October 1, 2019. Section 1702(d)(3) of the Energy Policy Act of 2005 ( 42 U.S.C. 16512(d)(3) ) is amended by striking is not subordinate and inserting (including any reorganization, restructuring, or termination of the obligation) shall not at any time be subordinate . Section 1703 of the Energy Policy Act of 2005 ( 42 U.S.C. 16513 ) is amended by adding at the end the following: If the Secretary does not make a final decision on an application for a loan guarantee under this section by the date that is 270 days after receipt of the application by the Secretary, on that date and every 90 days thereafter until the final decision is made, the applicant may request that the Secretary provide to the applicant a description of the status of the application. Not later than 10 days after receiving a request from an applicant under paragraph (1), the Secretary shall provide to the applicant a response that includes— a summary of any factors that are delaying a final decision on the application; and an estimate of when review of the application will be completed. . Section 1705 of the Energy Policy Act of 2005 ( 42 U.S.C. 16516 ) is repealed. There is rescinded the unobligated balance of amounts made available to carry out the loan guarantee program established under section 1705 of the Energy Policy Act of 2005 ( 42 U.S.C. 16516 ) (before the amendment made by paragraph (1)). The Secretary shall ensure rigorous continued management and oversight of all outstanding loans guaranteed under the program described in subsection
(b)until those loans have been repaid in full.
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Sec. 4001
Terms and conditions for incentives for innovative technologies
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