Sec. 50141. Funding for department of energy loan programs office
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In addition to commitment authority otherwise available and previously provided, the Secretary may make commitments to guarantee loans for eligible projects under section 1703 of the Energy Policy Act of 2005 ( 42 U.S.C. 16513 ), up to a total principal amount of $40,000,000,000, to remain available through September 30, 2026. In addition to amounts otherwise available and previously provided, there is appropriated to the Secretary for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $3,600,000,000, to remain available through September 30, 2026, for the costs of guarantees made under section 1703 of the Energy Policy Act of 2005 ( 42 U.S.C. 16513 ), using the loan guarantee authority provided under subsection
(a)of this section. Of the amount made available under subsection (b), the Secretary shall reserve not more than 3 percent for administrative expenses to carry out title XVII of the Energy Policy Act of 2005 and for carrying out section 1702(h)(3) of such Act ( 42 U.S.C. 16512(h)(3) ). None of the amounts made available under this section for loan guarantees shall be available for any project unless the President has certified in advance in writing that the loan guarantee and the project comply with the provisions under this section. Except as provided in paragraph (3), none of the amounts made available under this section for loan guarantees shall be available for commitments to guarantee loans for any projects under which funds, personnel, or property (tangible or intangible) of any Federal agency, instrumentality, personnel, or affiliated entity are expected to be used (directly or indirectly) through acquisitions, contracts, demonstrations, exchanges, grants, incentives, leases, procurements, sales, other transaction authority, or other arrangements to support the project or to obtain goods or services from the project. Paragraph
(2)shall not preclude the use of the loan guarantee authority provided under this section for commitments to guarantee loans for— projects benefitting from otherwise allowable Federal tax benefits; projects benefitting from being located on Federal land pursuant to a lease or right-of-way agreement for which all consideration for all uses is— paid exclusively in cash; deposited in the Treasury as offsetting receipts; and equal to the fair market value; projects benefitting from the Federal insurance program under section 170 of the Atomic Energy Act of 1954 ( 42 U.S.C. 2210 ); or electric generation projects using transmission facilities owned or operated by a Federal Power Marketing Administration or the Tennessee Valley Authority that have been authorized, approved, and financed independent of the project receiving the guarantee. Section 1701(4)(A) of the Energy Policy Act of 2005 ( 42 U.S.C. 16511(4)(A) ) is amended by inserting , except that a loan guarantee may guarantee any debt obligation of a non-Federal borrower to any Eligible Lender (as defined in section 609.2 of title 10, Code of Federal Regulations) before the period at the end. Section 1702(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16512(b)(2) ) is amended by adding at the end the following: The source of a payment received from a borrower under subparagraph
(A)or
(B)of paragraph
(2)may not be a loan or other debt obligation that is made or guaranteed by the Federal Government. .
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Sec. 50141
Funding for department of energy loan programs office
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