H.R.6249 - To authorize the Secretary of Energy to make price floor loans to certain low-carbon coal-to-liquid fuel projects.109th Congress (2005-2006)
|Sponsor:||Rep. Shimkus, John [R-IL-19] (Introduced 09/28/2006)|
|Committees:||House - Energy and Commerce; Science|
|Latest Action:||House - 10/04/2006 Referred to the Subcommittee on Energy. (All Actions)|
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Summary: H.R.6249 — 109th Congress (2005-2006)All Information (Except Text)
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.