Title 42 — The Public Health and Welfare
Chapter 149 — National Energy Policy and Programs
§ 16503. Sugar ethanol loan guarantee program
Statutory text
In general
Funds may be provided for the cost (as defined in section 661a of title 2) of loan guarantees issued under title XIV 1 to carry out commercial demonstration projects for ethanol derived from sugarcane, bagasse, and other sugarcane byproducts.
Demonstration projects
The Secretary may issue loan guarantees under this section to projects to demonstrate commercially the feasibility and viability of producing ethanol using sugarcane, sugarcane bagasse, and other sugarcane byproducts as a feedstock.
Requirements
An applicant for a loan guarantee under this section may provide assurances, satisfactory to the Secretary, that—
the project design has been validated through the operation of a continuous process facility;
the project has been subject to a full technical review;
the project, with the loan guarantee, is economically viable; and
there is a reasonable assurance of repayment of the guaranteed loan.
Limitations
Maximum guarantee
Except as provided in paragraph (2), a loan guarantee under this section—
may be issued for up to 80 percent of the estimated cost of a project; but
shall not exceed $50,000,000 for any 1 project.
Additional guarantees
In general
The Secretary may issue additional loan guarantees for a project to cover—
up to 80 percent of the excess of actual project costs; but
not to exceed 15 percent of the amount of the original loan guarantee.
Principal and interest
Subject to subparagraph (A), the Secretary shall guarantee 100 percent of the principal and interest of a loan guarantee made under subparagraph (A).
Footnotes
- 1 See References in Text note below.
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.
Energy Policy Act of 2005
Pub. L. 109–58 title XV § 1516 · 119 Stat. 594
Enacted · 42 U.S.C. § 16503
(Pub. L. 109–58, title XV, § 1516, Aug. 8, 2005, 119 Stat. 1091.)
Source evidence
Code source credit
(Pub. L. 109–58, title XV, § 1516, Aug. 8, 2005, 119 Stat. 1091.)Enacted provision · exact public law section
SEC. 1516. SUGAR ETHANOL LOAN GUARANTEE PROGRAM. (a) In General.— Funds may be provided for the cost (as defined in section 502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a)) of loan guarantees issued under title XIV to carry out commercial demonstration projects for ethanol derived from sugarcane, bagasse, and other sugarcane byproducts. (b) Demonstration Projects.— The Secretary may issue loan guarantees under this section to projects to demonstrate commercially the feasibility and viability of producing ethanol using sugarcane, sugarcane bagasse, and other sugarcane byproducts as a feedstock. (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.— Subject to subparagraph (A), the Secretary shall guarantee 100 percent of the principal and interest of a loan guarantee made under subparagraph (A).
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
Title XIV, referred to in subsec. (a), is title XIV of Pub. L. 109–58, , 119 Stat. 1061, which enacted subchapter XIII of this chapter and section 13557 of this title.