S. 2399 — what changed
To amend the Energy Policy Act of 2005 to improve State loan eligibility for projects for innovative technologies.
From Introduced in Senate to Reported in Senate. 1 section amended between Introduced in Senate and Reported in Senate.
Section 1 State loan eligibility
Definitions— Section 1701 of the Energy Policy Act of 2005 (42 U.S.C. 16511) is amended by adding at the end the following:
“(6) State—The term State has the meaning given the term in section 202 of the Energy Conservation and Production Act (42 U.S.C. 6802).
“(7) State energy financing institution
“(A) In general—The term State energy financing institution means a quasi-independent entity or an entity within a State agency or financing authority established by a State—
“(i) to provide financing support or credit enhancements, including loan guarantees and loan loss reserves, for eligible projects; and
“(ii) to create liquid markets for eligible projects, including warehousing and securitization, or take other steps to reduce financial barriers to the deployment of existing and new eligible projects.
“(B) Inclusion—The term State energy financing institution includes an entity or organization established to achieve the purposes described in clauses (i) and (ii) of subparagraph (A) by an Indian Tribal entity or an Alaska Native Corporation.”
Terms and conditions— Section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512) is amended—
added
in subsection (a), by inserting “, including projects receiving financial support or credit enhancements from a State energy financing institution,” after “for projects”;
added
in subsection (d)(1), by inserting “, including a guarantee for a project receiving financial support or credit enhancements from a State energy financing institution,” after “No guarantee”; and
added
by adding at the end the following:
renumbered
was (3)(3)
in subsection (a), by inserting “or to a State energy financing institution” after “for projects”; and
renumbered
was (3)(4)
by adding at the end the following:
“(l) State energy financing institutions
“(1) Eligibility—To be eligible for a guarantee under this title, a State energy financing institution—
added “(l) State energy financing institutions
added “(1) Eligibility—To be eligible for a guarantee under this title, a project receiving financial support or credit enhancements from a State energy financing institution—
“(A) shall meet the requirements of section 1703(a)(1); and
“(B) shall not be required to meet the requirements of section 1703(a)(2).
“(2) Partnerships authorized—In carrying out a project receiving a loan guarantee under this title, State energy financing institutions may enter into partnerships with private entities, Tribal entities, and Alaska Native corporations.
“(3) Prohibition on use of appropriated funds—Amounts appropriated to the Department of Energy before the date of enactment of this subsection shall not be available to be used for the cost of loan guarantees made to State energy financing institutions under this subsection.”