Sec. 2. Repeal of loan guarantee programs
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Title XVII of the Energy Policy Act of 2005 ( 42 U.S.C. 16511 et seq.) is repealed. On the date of enactment of this Act, any amounts made available to carry out title XVII of the Energy Policy Act of 2005 (as in effect on the date before the date of enactment of this Act), that are not required to pay possible claims on loan guarantees made under such title before the date of enactment of this Act, are rescinded. On the date on which all outstanding loans guaranteed under such title have been repaid in full, any remaining amounts made available to carry out such title are rescinded.
Notwithstanding subsection (a), the terms and conditions of any loan guarantee made before the date of enactment of this Act under title XVII of the Energy Policy Act of 2005 (as in effect on the date before the date of enactment of this Act) shall continue to apply, and the Secretary of Energy shall ensure rigorous continued management and oversight of each such outstanding loan, until each such loan is repaid in full. Not later than 30 days after the date of enactment of this Act, the Secretary of Energy shall submit to the Committee on Science, Space, and Technology of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report that includes, for each such outstanding loan, an assessment of— market risk exposure and revenue contracts; technology, construction, and operations risk; and risk of default.
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Sec. 2
Repeal of loan guarantee programs
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