S. 949 (111th): 21st Century Energy Technology Deployment Act

Introduced:
Apr 30, 2009 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
Jeff Bingaman
Senator from New Mexico
Party
Democrat
Text
Read Text »
Last Updated
Apr 30, 2009
Length
49 pages
Related Bills
S. 3233 (110th) was a previous version of this bill.

Referred to Committee
Last Action: Jul 08, 2008

H.R. 2212 (Related)
21st Century Energy Technology Deployment Act

Referred to Committee
Last Action: Apr 30, 2009

 
Status

This bill was introduced on April 30, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 30, 2009
Referred to Committee Apr 30, 2009
 
Full Title

A bill to improve the loan guarantee program of the Department of Energy under title XVII of the Energy Policy Act of 2005, to provide additional options for deploying energy technologies, and for other purposes.

Summary

No summaries available.

Cosponsors
7 cosponsors (4R, 3D) (show)
Committees

Senate Energy and Natural Resources

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


4/30/2009--Introduced.
21st Century Energy Technology Deployment Act - Establishes in the Treasury the Clean Energy Investment Fund, consisting of: (1) amounts appropriated for administrative expenses to implement a loan guarantee program that provides incentives for innovative technologies; and (2) amounts deposited in or appropriated for the Fund.
Amends the Energy Policy Act of 2005 to revise provisions concerning such program, including by revising the definition of "commercial technology," requiring payments from the borrower to not be a debt obligation that is made or guaranteed by the federal government, and requiring fees collected under such program to be deposited into the Fund (currently, the Treasury).
Directs the Secretary of Energy (DOE), after consultation with the Energy Technology Advisory Council of the Clean Energy Deployment Administration (both established by this Act), to develop and publish for review and comment near-, medium-, and long-term goals for the deployment of clean energy technologies through the credit support programs established by this Act to establish or promote specified energy generation, transmission, and use and energy technology manufacturing capacities.
Allows the Administration to issue direct loans, letters of credit, loan guarantees, insurance products, or such other credit enhancements or debt instruments (including through participation as a co-lender or a member of a syndication) to deploy clean energy technologies.
Requires the Administration to:
(1) establish an expected loan loss reserve to account for estimated losses; and
(2) develop financial products and arrangements to promote the widespread deployment of, and mobilize private sector support of credit and investment institutions for, clean energy technologies through securitization, indirect credit support, or other similar means of credit enhancement.
Authorizes the Administration to lend on the security of, and make commitments to lend on the security of, any debt that it has issued or is authorized to purchase.
Describes the Administration's lending and credit authorities.
Authorizes the Secretary to delegate to the Administration the provision of financial services and program management for grant, loan, and other credit enhancement programs.
Requires biannual reports to Congress on the technologies supported and on Administration performance. Requires the Administration to report annually and quarterly to the Secretary on its financial conditions and operations.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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