Sec. 30441. Funding for Department of Energy Loan Programs Office
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In addition to commitment authority otherwise available and previously provided, the Secretary of Energy may make commitments to guarantee loans for eligible projects under section 1703 of the Energy Policy Act of 2005 up to a total principal amount of $40,000,000,000, to remain available until September 30, 2026: Provided , That for amounts collected pursuant to section 1702(b)(2) of the Energy Policy Act of 2005, the source of such payment received from borrowers may not be a loan or other debt obligation that is guaranteed by the Federal Government:
Provided further, That none of the loan guarantee authority made available by this section 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: Provided further , That none of such loan guarantee authority made available by this section shall be available for commitments to guarantee loans for any projects where 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:
Provided further , That the previous proviso shall not be interpreted as precluding the use of the loan guarantee authority provided by this section for commitments to guarantee loans for— projects as a result of such projects benefitting from otherwise allowable Federal tax benefits; projects as a result of such 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 as a result of such 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.
In addition to amounts otherwise available and previously provided, there is appropriated to the Secretary of Energy for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $3,600,000,000, to remain available until September 30, 2026, for the costs of guarantees made under section 1703 of the Energy Policy Act of 2005, using the loan guarantee authority provided under subsection
(a)of this section. Of the amount made available under subsection (b), the Secretary of Energy shall reserve 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.
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Sec. 30441
Funding for Department of Energy Loan Programs Office
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