Sec. 12003. Additional funding for electric loans for renewable energy
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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, $2,880,000,000, to remain available until September 30, 2031, for the cost of loans under section 317 of the Rural Electrification Act of 1936 ( 7 U.S.C. 940g ), including for projects that store electricity that supports the types of eligible projects under such section, which shall be forgiven in whole or in part based on how the borrower and the project meets the terms and conditions for loan forgiveness consistent with the purposes of such section established by the Secretary, subject to the condition that the performance of any construction work completed with amounts provided under this section meet the condition described in section 9003(f) of the Farm Security and Rural Investment Act of 2002 ( 7 U.S.C. 8103(f) ).
The Secretary shall not enter into any loan agreement pursuant to this section that could result in disbursements after September 30, 2031.
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