Summary: S.37 — 95th Congress (1977-1978)All Information (Except Text)

There is one summary for S.37. Bill summaries are authored by CRS.

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Introduced in Senate (01/10/1977)

Amendments to the Federal Nonnuclear Energy Research and Development Act - Amends the Federal Nonnuclear Energy Research and Development Act of 1974 to authorize the Administrator of the Energy Research and Development Administration to guarantee loan obligations issued for the purpose of financing the construction and operational costs of commercial demonstration facilities for: (1) the conversion of biomass into synthetic fuels; and (2) the generation of desirable forms of energy (including synthetic fuels) in commercial quantities from bioconversion.

Stipulates that the outstanding indebtedness guaranteed or committed under this Act shall at no time exceed $300,000,000. Requires the concurrence of the Secretary of the Treasury with respect to the conditions of any such guarantee. Details conditions under which the Administrator may guarantee an obligation.

Establishes procedures for consultation with affected States, localities and Indian tribes. Prohibits the making of Federal commitments where the Governor of the affected State is opposed unless there is an overriding national interest favoring such Federal action.

Specifies procedures in the event of a default on any guarantee under this Act.

Requires full reports to Congressional committees on proposed Federal actions under this Act. Directs the Administrator to submit a comprehensive plan for energy productions and conservation demonstration programs to the Congress.

Establishes a separate fund in the Treasury to finance the programs authorized by this Act. Directs the Administrator to deposit in the fund all amounts received as interest payments or repayments of principal on loans which are guaranteed under this Act. Directs the Administrator to issue notes or other obligations to the Secretary of the Treasury at any time the moneys available in the fund are insufficient to enable the Administrator to carry out his responsibilities.

Prohibits the transfer of any part of the program authorized by this Act to any other agency or authority, except pursuant to Act of Congress.

Requires employees and officials within the Energy Research and Development Administration to file annual reports with the Administrator with respect to any financial interest in any property or business receiving financial assistance under this Act to which they may have knowledge. Imposes a fine of $2,500 and/or imprisonment of up to one year for violation of this Act by any employee or official of the Administration.