Sec. 12007. USDA assistance for rural electric cooperatives
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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, $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) assistance under paragraphs
(1)and
(2)by awarding such assistance to eligible entities for purposes described in section 310B(a)(2)(C) of the Consolidated Farm and Rural Development Act (provided that the term renewable energy system in that paragraph has the meaning given such term in section 9001(16) of the Farm Security and Rural Investment Act of 2002) and for carbon capture and storage systems, that will achieve the greatest reduction in greenhouse gas emissions associated with rural electric systems using such assistance and that will otherwise aid disadvantaged rural communities (as determined by the Secretary), subject to the condition that any construction work completed with amounts provided under this section shall meet the condition described in section 9003(f) of the Farm Security and Rural Investment Act of 2002 ( 7 U.S.C. 8103(f) ), when— making grants and loans (including the cost of loans and modifications thereof) to purchase renewable energy (as defined in section 9001(15) of the Farm Security and Rural Investment Act of 2002 ( 7 U.S.C. 8101(15) )), purchase renewable energy systems (as defined in section 9001(16) of that Act ( 7 U.S.C. 8101(16) )), and carbon capture and storage systems, deploy such systems, or make energy efficiency improvements after the date of enactment of this Act; and making grants for debt relief and other costs associated with terminating, after the date of enactment of this Act or up to one year prior to the date of enactment, the use of— facilities operating on nonrenewable energy; and related transmission assets. No eligible entity may receive an amount equal to more than 10 percent of the total amount made available by this section. Nothing in this section shall be interpreted to authorize funds of the Commodity Credit Corporation for activities under this section if such funds are not expressly authorized or currently expended for such purposes.
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