Sec. 30461. Transmission line and intertie grants and loans
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In addition to amounts otherwise available, there is appropriated to the Secretary of Energy for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $8,000,000,000, to remain available until September 30, 2031 (except that no funds shall be disbursed after September 30, 2031), for purposes of providing grants and direct loans under subsection (b), and for administrative expenses associated with carrying out this section: Provided , That none of such loan authority made available by this section shall be available for 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 authority provided by this section for commitments to loans for:
(1)projects benefitting from otherwise allowable Federal tax benefits;
(2)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:
(A)paid exclusively in cash;
(B)deposited in the Treasury as offsetting receipts; and
(C)equal to the fair market value as determined by the head of the relevant Federal agency;
(3)projects benefitting from Federal insurance programs; or
(4)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: Provided further , That none of the loan authority made available by this section shall be available for any project unless the Director of the Office of Management and Budget has certified in advance in writing that the loan and the project comply with the provisions under this section. Not more than $1,000,000,000 of the amount appropriated under paragraph
(1)may be used to pay for the costs of providing direct loans under subsection (b). Except as provided in subsection (c), the Secretary of Energy may provide grants and direct loans to eligible entities to construct new, or make upgrades to existing, eligible transmission lines or eligible interties, including the related facilities thereof, if the Secretary of Energy determines that such construction or upgrade would support— a more robust and resilient electric grid; and the integration of electricity from a clean energy facility into the electric grid. The Secretary of Energy shall determine the rate of interest to charge on direct loans provided under subsection
(b)by taking into consideration market yields on outstanding marketable obligations of the United States of comparable maturities as of the date the loan is disbursed. In providing direct loans under subsection (b), the Secretary may require such terms and conditions the Secretary determines appropriate. A grant provided under this section may not be used to construct new, or make upgrades to existing, eligible transmission lines or eligible interties if the costs for such construction or upgrade are approved for recovery through a Transmission Organization (as defined in section 3 of the Federal Power Act ( 16 U.S.C. 796 )). In this section: The term clean energy facility means any electric generating unit that does not emit carbon dioxide. The term direct loan means a disbursement of funds by the Government to a non-Federal borrower under a contract that requires the repayment of such funds with or without interest. The term includes the purchase of, or participation in, a loan made by another lender and financing arrangements that defer payment for more than 90 days, including the sale of a government asset on credit terms. The term eligible entity means a non-Federal entity. The term eligible intertie means— any interties across the seam between the Western Interconnection and the Eastern Interconnection; the Pacific Northwest-Pacific Southwest Intertie; any interties between the Electric Reliability Council of Texas and the Western Interconnection or the Eastern Interconnection; or such other interties that the Secretary determines contribute to— a more robust and resilient electric grid; and the integration of electricity from a clean energy facility into the electric grid. The term eligible transmission line means an electric power transmission line that— in the case of new construction under subsection (b), has a transmitting capacity of not less than 1,000 megawatts; in the case of an upgrade made under subsection (b), the upgrade to which will increase its transmitting capacity by not less than 500 megawatts; and is capable of transmitting electricity— across any eligible intertie; from an offshore wind generating facility; or along a route, or in a corridor, determined by the Secretary of Energy to be necessary to meet interregional or national electricity transmission needs.
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Sec. 30461
Transmission line and intertie grants and loans
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