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“REPRINT OF AMENDMENT NO. 3325 SUBMITTED ON TUESDAY, APRIL 23, 2002” mentioning the U.S. Dept. of Energy was published in the Senate section on pages S3320 on April 24, 2002.
The publication is reproduced in full below:
REPRINT OF AMENDMENT NO. 3325 SUBMITTED ON TUESDAY, APRIL 23, 2002
SA 3325. Mr. SHELBY (for himself, Mr. Akaka, Mr. Schumer, and Mrs. Clinton) submitted an amendment intended to be proposed to amendment SA 2917 proposed by Mr. Daschle (for himself and Mr. Bingaman) to the bill
(S. 517) to authorize funding the Department of Energy to enhance its mission areas through technology transfer and partnerships for fiscal years 2002 through 2006, and for other purposes; which was ordered to lie on the table; as follows:
On page 205, between lines 8 and 9, insert the following:
(____) Establishment of a Program for the Production of Fuel Ethanol From Municipal Solid Waste.--
(1) Definition of municipal solid waste.--In this section, the term ``municipal solid waste'' has the meaning given the term ``solid waste'' in section 1004 of the Solid Waste Disposal Act (42 U.S.C. 6903).
(2) Establishment of program.--The Secretary of Energy shall establish a program that promotes expedited construction of facilities for the processing and conversion of municipal solid waste into fuel ethanol to supplement fossil fuels.
(3) Authorization of appropriations.--There are authorized to be appropriated such sums as are necessary to carry out programs that promote expedited construction of commercially viable facilities for the processing and conversion of municipal solid waste to fuel ethanol to supplement fossil fuels including, but not limited to, loan guarantees to private institutions.
(4) Requirements.--The Secretary may provide a loan guarantee under paragraph (2) to an applicant if--
(A) without a loan guarantee, credit is not available to the applicant under reasonable terms or conditions sufficient to finance the construction of a facility described in paragraph (2);
(B) the prospective earning power of the applicant and the character and value of the security pledged provide a reasonable assurance of repayment of the loan to be guaranteed in accordance with the terms of the loan; and
(C) the loan bears interest at a rate determined by the Secretary to be reasonable, taking into account the current average yield on outstanding obligations of the United States with remaining periods of maturity comparable to the maturity of the loan.
(5) Criteria.--In selecting recipients of loan guarantees from among applicants, the Secretary shall give preference to proposals that--
(A) meet all applicable Federal and State permitting requirements;
(B) are most likely to be successful; and
(C) are located in local markets that have the greatest need for the facility because of--
(i) the limited availability of land for waste disposal; or
(ii) a high level of demand for fuel ethanol or other commercial byproducts of the facility.
(6) Maturity.--A loan guaranteed under paragraph (2) shall have a maturity of not more than 20 years.
(7) Terms and conditions.--The loan agreement for a loan guaranteed under paragraph (2) shall provide that no provision of the loan agreement may be amended or waived without the consent of the Secretary.
(8) Assurance of repayment.--The Secretary shall require that an applicant for a loan guarantee under paragraph (2) provide an assurance of repayment in the form of a performance bond, insurance, collateral, or other means acceptable to the Secretary in an amount equal to not less than 20 percent of the amount of the loan.
(9) Guarantee fee.--The recipient of a loan guarantee under paragraph (2) shall pay the Secretary an amount determined by the Secretary to be sufficient to cover the administrative costs of the Secretary relating to the loan guarantee.
(10) Full faith and credit.--The full faith and credit of the United States is pledged to the payment of all guarantees made under this section. Any such guarantee made by the Secretary shall be conclusive evidence of the eligibility of the loan for the guarantee with respect to principal and interest. The validity of the guarantee shall be incontestable in the hands of a holder of the guaranteed loan.
(11) Reports.--Until each guaranteed loan under this section has been repaid in full, the Secretary shall annually submit to Congress an report on the activities of the Secretary under this section.
(12) Termination of Authority.--The authority of the Secretary to issue a loan guarantee under paragraph (2) terminates on the date that is 10 years after the date of enactment of this Act.
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