Text: H.R.6341 — 111th Congress (2009-2010)All Bill Information (Except Text)

There is one version of the bill.

Bill text available as:

Shown Here:
Introduced in House (09/29/2010)


111th CONGRESS
2d Session
H. R. 6341

To establish a loan program to promote energy conservation in rural areas.


IN THE HOUSE OF REPRESENTATIVES
September 29, 2010

Mr. Holden introduced the following bill; which was referred to the Committee on Agriculture


A BILL

To establish a loan program to promote energy conservation in rural areas.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Growing rural energy efficiency networks.

The Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.) is amended by inserting after section 313A the following:

“SEC. 313B. Growing rural energy efficiency networks.

“(a) Definition.—In this section the term ‘eligible borrower’ means—

“(1) an entity that has received a loan or loan guarantee under this Act; or

“(2) a cooperative that is eligible to receive a loan or loan guarantee under this Act.

“(b) Interest-Free loans.—The Secretary shall establish an initiative to promote energy efficiency by providing interest-free loans for the purposes of—

“(1) making energy efficiency improvements; and

“(2) achieving energy conservation.

“(c) Loan purposes.—To promote the purposes described in subsection (b), the Secretary shall make interest-free loans to eligible borrowers to encourage such borrowers to—

“(1) invest in and facilitate consumer energy efficiency improvements; or

“(2) increase energy conservation.

“(d) Repayment terms.—In carrying out this section, the Secretary shall establish such reasonable terms and conditions as necessary to ensure participation by eligible borrowers.

“(e) Funding.—The Secretary shall use the fees collected pursuant to section 313A(c) to provide the interest-free loans authorized under this section.

“(f) Limitations.—In carrying out this section, the Secretary shall—

“(1) use only those fees required under section 313A(c) that are collected for loans guaranteed under section 313A after the date of the enactment of this section; and

“(2) require that the amount of the annual fee paid for the guarantee of a bond or note under section 313A be equal to 50 basis points of the amount of the unpaid principal of the bond or note guaranteed under such section, and an additional loan origination fee equal to 50 such basis points shall be paid at the time the guarantee is approved.

“(g) Program level.—The Secretary shall approve $3,000,000 in loan guarantees under this section to qualified lenders as described in section 313A(b)(3) for the fiscal year ending September 30, 2010.

“(h) Sunset.—Subsection (f) shall not be effective on or after September 30, 2011.”.