H.R.271 - To direct the Secretary of Agriculture to establish a program to provide covered institutions loans for conversion to use of biomass for energy generation.112th Congress (2011-2012)
|Sponsor:||Rep. Fortenberry, Jeff [R-NE-1] (Introduced 01/12/2011)|
|Committees:||House - Agriculture|
|Latest Action:||House - 03/03/2011 Referred to the Subcommittee on Conservation, Energy, and Forestry. (All Actions)|
This bill has the status Introduced
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Summary: H.R.271 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (01/12/2011)
Requires the Secretary of Agriculture to: (1) establish a program to provide zero-interest loans to covered institutions (i.e., an institution of higher education, an elementary or secondary school, or a hospital) for capital costs for converting to the use of biomass for energy generation; and (2) ensure that an institution receiving such a loan will use woody biomass for not less than 75% of the energy generation resulting from such conversion.
Establishes in the Treasury a revolving fund for such program. Requires the Secretary to: (1) deposit amounts received as payment on loans provided under such program into such revolving fund; and (2) make available $100 million of the funds of the Commodity Credit Corporation to such revolving fund.