skip to main content

S. 1337: Capitalizing on American Storage Potential Act

The text of the bill below is as of May 22, 2018 (Reported by Senate Committee).


II

Calendar No. 422

115th CONGRESS

2d Session

S. 1337

[Report No. 115–254]

IN THE SENATE OF THE UNITED STATES

June 12, 2017

(for himself, Mrs. Capito, and Mr. Brown) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources

May 22, 2018

Reported by , with an amendment

Omit the part struck through and insert the part printed in italic

A BILL

To amend the Energy Policy Act of 2005 to make certain strategic energy infrastructure projects eligible for certain loan guarantees, and for other purposes.

1.

Short title

This Act may be cited as the Capitalizing on American Storage Potential Act.

2.

Strategic energy infrastructure projects

Section 1703 of the Energy Policy Act of 2005 (42 U.S.C. 16513) is amended—

(1)

in subsection (b)—

(A)

in paragraph (2), by striking in subsection (d)) and inserting described in subsection (d) and strategic energy infrastructure meeting the criteria described in subsection (f)); and

(B)

by adding at the end the following:

(11)

Strategic energy infrastructure meeting the criteria described in subsection (f).

; and

(2)

by adding at the end the following:

(f)

Strategic Energy Infrastructure projects

The Secretary may make guarantees under this section for any strategic energy infrastructure project that is a regional project—

(1)

that supports a more effective energy market performance due to the scale of the project, such as a project with the capacity to store and distribute greater than 100,000 barrels per day of hydrocarbon feedstock with a minimum gross heating value of 1,700 Btu per standard cubic foot; and

(2)

with the potential to significantly contribute to the economic resilience of the region in which the project is located.”.which the project is located.

(g)

National security review

Before making a guarantee for a project under this section, the Secretary shall certify that the guarantee is in the national interest and will not harm the national security of the United States, in accordance with Department of Energy Order 142.5 (relating to the Committee on Foreign Investment in the United States) (or a successor order).

.

May 22, 2018

Reported with an amendment