Sec. 22004. USDA assistance for rural electric cooperatives
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/bill/117/hr/5376/eas/section-22004A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 9003 of the Farm Security and Rural Investment Act of 2002 ( 7 U.S.C. 8103 ) (as amended by section 22003) is amended by adding at the end the following: Notwithstanding subsections
(a)through
(e)and (g), in addition to amounts otherwise available, there is appropriated to the Secretary for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $9,700,000,000, to remain available until September 30, 2031, for the long-term resiliency, reliability, and affordability of rural electric systems by providing to an eligible entity (defined as an electric cooperative described in section 501(c)(12) or 1381(a)(2) of the Internal Revenue Code of 1986 and is or has been a Rural Utilities Service electric loan borrower pursuant to the Rural Electrification Act of 1936 or serving a predominantly rural area or a wholly or jointly owned subsidiary of such electric cooperative) loans, modifications of loans, the cost of loans and modifications, and other financial assistance to achieve the greatest reduction in carbon dioxide, methane, and nitrous oxide emissions associated with rural electric systems through the purchase of renewable energy, renewable energy systems, zero-emission systems, and carbon capture and storage systems, to deploy such systems, or to make energy efficiency improvements to electric generation and transmission systems of the eligible entity after the date of enactment of this subsection. No eligible entity may receive an amount equal to more than 10 percent of the total amount made available by this subsection. The amount of a grant under this subsection shall be not more than 25 percent of the total project costs of the eligible entity carrying out a project using a grant under this subsection. Nothing in this subsection shall be interpreted to authorize funds of the Commodity Credit Corporation for activities under this subsection if such funds are not expressly authorized or currently expended for such purposes. The Secretary shall not enter into, pursuant to this subsection— any loan agreement that may result in a disbursement after September 30, 2031; or any grant agreement that may result in any outlay after September 30, 2031. .