Summary: H.R.6249 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for H.R.6249. Bill summaries are authored by CRS.

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Introduced in House (09/28/2006)

Amends the Energy Policy Act of 2005 to authorize the Secretary of Energy to enter into agreements, in the form of price floor loans, with up to six low-carbon CTL projects (that convert coal to liquid or gaseous transportation fuels) to guarantee each project a minimum price for its output of liquid or gaseous transportation fuels in return for: (1) payment to the United States of the cost of such loan; or (2) at the borrower's election, a call option for the United States equivalent in value to such payment.

Prohibits any agreement for a price floor loan unless the Office of Management and Budget (OMB) determines that the loan cost is fully offset by either certain payments or by the value of a call option.