Collapse to view only § 16503. Sugar ethanol loan guarantee program
- § 16501. Commercial byproducts from municipal solid waste and cellulosic biomass loan guarantee program
- § 16502. Advanced Biofuel Technologies Program
- § 16503. Sugar ethanol loan guarantee program
§ 16501. Commercial byproducts from municipal solid waste and cellulosic biomass loan guarantee program
(a) Definition of municipal solid waste
(b) Establishment of program
(c) RequirementsThe Secretary may provide a loan guarantee under subsection (b) to an applicant if—
(1) without a loan guarantee, credit is not available to the applicant under reasonable terms or conditions sufficient to finance the construction of a facility described in subsection (b);
(2) the prospective earning power of the applicant and the character and value of the security pledged provide a reasonable assurance of repayment of the loan to be guaranteed in accordance with the terms of the loan; and
(3) the loan bears interest at a rate determined by the Secretary to be reasonable, taking into account the current average yield on outstanding obligations of the United States with remaining periods of maturity comparable to the maturity of the loan.
(d) CriteriaIn selecting recipients of loan guarantees from among applicants, the Secretary shall give preference to proposals that—
(1) meet all applicable Federal and State permitting requirements;
(2) are most likely to be successful; and
(3) are located in local markets that have the greatest need for the facility because of—
(A) the limited availability of land for waste disposal;
(B) the availability of sufficient quantities of cellulosic biomass; or
(C) a high level of demand for fuel ethanol or other commercial byproducts of the facility.
(e) Maturity
(f) Terms and conditions
(g) Assurance of repayment
(h) Guarantee fee
(i) Full faith and credit
(j) Reports
(k) Authorization of appropriations
(l) Termination of authority
(Pub. L. 109–58, title XV, § 1510, Aug. 8, 2005, 119 Stat. 1085.)
§ 16502. Advanced Biofuel Technologies Program
(a) In general
(b) Priority
(c) Demonstration projects
(1) In general
As part of the program under subsection (a), the Administrator shall fund demonstration projects—
(A) to develop not less than 4 different conversion technologies for producing cellulosic biomass ethanol; and
(B) to develop not less than 5 technologies for coproducing value-added bioproducts (such as fertilizers, herbicides, and pesticides) resulting from the production of biodiesel fuel.
(2) Administration
Demonstration projects under this subsection shall be—
(A) conducted based on a merit-reviewed, competitive process; and
(B) subject to the cost-sharing requirements of section 16352 of this title.
(d) Authorization of appropriations
(Pub. L. 109–58, title XV, § 1514, Aug. 8, 2005, 119 Stat. 1090.)
§ 16503. Sugar ethanol loan guarantee program
(a) In general
(b) Demonstration projects
(c) Requirements
An applicant for a loan guarantee under this section may provide assurances, satisfactory to the Secretary, that—
(1) the project design has been validated through the operation of a continuous process facility;
(2) the project has been subject to a full technical review;
(3) the project, with the loan guarantee, is economically viable; and
(4) there is a reasonable assurance of repayment of the guaranteed loan.
(d) Limitations
(1) Maximum guarantee
Except as provided in paragraph (2), a loan guarantee under this section—
(A) may be issued for up to 80 percent of the estimated cost of a project; but
(B) shall not exceed $50,000,000 for any 1 project.
(2) Additional guarantees
(A) In general
The Secretary may issue additional loan guarantees for a project to cover—
(i) up to 80 percent of the excess of actual project costs; but
(ii) not to exceed 15 percent of the amount of the original loan guarantee.
(B) Principal and interest
(Pub. L. 109–58, title XV, § 1516, Aug. 8, 2005, 119 Stat. 1091.)