§ 1513. Loan interest rates; repayment periods

Footnotes

1. 1 So in original. Should be “(42 U.S.C. 1962d–17(a)).”

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1980

   Energy Security Act

   Pub. L. 96–294 title VI § 613 · 94 Stat. 611

   Enacted · 30 U.S.C. § 1513

   (Pub. L. 96–294, title VI, § 613, June 30, 1980, 94 Stat. 764.)

   Source evidence

   Code source credit
   (Pub. L. 96–294, title VI, § 613, June 30, 1980, 94 Stat. 764.)

   Enacted provision · exact public law section
   Sec. 613. loan rate and repayment (a) Each loan made under section 611 shall bear interest at a discount or interest rate equal to the rate in effect (at the time the loan is made) for water resources planning projects under section 80 of the Water Resources Development Act of 1974 (42 U.S.C. 42 USC 1962d–17. 1962(d)–17(a)). (b) Each such loan shall be for a term which the Secretary deems appropriate, except that no loan term shall exceed twenty years beyond the date on which production of energy or geothermal energy resources begins from the reservoir involved. If revenues are inadequate (as determined by the Secretary) to fully repay the principal and accrued interest within twenty years after production begins, any remaining unpaid amounts shall be forgiven.

1 of 1 references resolved to an enrolled provision