A bill to amend the Energy Policy Act of 2005 to improve State loan eligibility for projects for innovative technologies.

II Calendar No. 386 116TH CONGRESS 1ST SESSION S. 2399 To amend the Energy Policy Act of 2005 to improve State loan eligibility for projects for innovative technologies. IN THE SENATE OF THE UNITED STATES JULY 31, 2019 Ms. MURKOWSKI introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources DECEMBER 18, 2019 Reported by Ms. MURKOWSKI, with amendments [Omit the part struck through and insert the part printed in italic] A BILL To amend the Energy Policy Act of 2005 to improve State loan eligibility for projects for innovative technologies. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. STATE LOAN ELIGIBILITY. 3 (a) DEFINITIONS.—Section 1701 of the Energy Pol- 4 icy Act of 2005 (42 U.S.C. 16511) is amended by adding 5 at the end the following: 6 VerDate Sep 11 2014 03:09 Dec 19, 2019 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2399.RS S2399 pamtmann on DSKBC07HB2PROD with BILLS 2 •S 2399 RS ‘‘(6) STATE.—The term ‘State’ has the mean- 1 ing given the term in section 202 of the Energy 2 Conservation and Production Act (42 U.S.C. 6802). 3 ‘‘(7) STATE ENERGY FINANCING INSTITU- 4 TION.— 5 ‘‘(A) IN GENERAL.—The term ‘State en- 6 ergy financing institution’ means a quasi-inde- 7 pendent entity or an entity within a State agen- 8 cy or financing authority established by a 9 State— 10 ‘‘(i) to provide financing support or 11 credit enhancements, including loan guar- 12 antees and loan loss reserves, for eligible 13 projects; and 14 ‘‘(ii) to create liquid markets for eligi- 15 ble projects, including warehousing and 16 securitization, or take other steps to reduce 17 financial barriers to the deployment of ex- 18 isting and new eligible projects. 19 ‘‘(B) INCLUSION.—The term ‘State energy 20 financing institution’ includes an entity or orga- 21 nization established to achieve the purposes de- 22 scribed in clauses (i) and (ii) of subparagraph 23 (A) by an Indian Tribal entity or an Alaska 24 Native Corporation.’’. 25 VerDate Sep 11 2014 03:09 Dec 19, 2019 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S2399.RS S2399 pamtmann on DSKBC07HB2PROD with BILLS 3 •S 2399 RS (b) TERMS AND CONDITIONS.—Section 1702 of the 1 Energy Policy Act of 2005 (42 U.S.C. 16512) is amend- 2 ed— 3 (1) in subsection (a), by inserting ‘‘, including 4 projects receiving financial support or credit enhance- 5 ments from a State energy financing institution,’’ 6 after ‘‘for projects’’; 7 (2) in subsection (d)(1), by inserting ‘‘, includ- 8 ing a guarantee for a project receiving financial sup- 9 port or credit enhancements from a State energy fi- 10 nancing institution,’’ after ‘‘No guarantee’’; and 11 (3) by adding at the end the following: 12 (1) in subsection (a), by inserting ‘‘or to a 13 State energy financing institution’’ after ‘‘for 14 projects’’; and 15 (2) by adding at the end the following: 16 ‘‘(l) STATE ENERGY FINANCING INSTITUTIONS.— 17 ‘‘(1) ELIGIBILITY.—To be eligible for a guar- 18 antee under this title, a State energy financing insti- 19 tution— 20 ‘‘(l) STATE ENERGY FINANCING INSTITUTIONS.— 21 ‘‘(1) ELIGIBILITY.—To be eligible for a guar- 22 antee under this title, a project receiving financial 23 support or credit enhancements from a State energy 24 financing institution— 25 VerDate Sep 11 2014 03:09 Dec 19, 2019 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6203 E:\BILLS\S2399.RS S2399 pamtmann on DSKBC07HB2PROD with BILLS 4 •S 2399 RS ‘‘(A) shall meet the requirements of section 1 1703(a)(1); and 2 ‘‘(B) shall not be required to meet the re- 3 quirements of section 1703(a)(2). 4 ‘‘(2) PARTNERSHIPS AUTHORIZED.—In car- 5 rying out a project receiving a loan guarantee under 6 this title, State energy financing institutions may 7 enter into partnerships with private entities, Tribal 8 entities, and Alaska Native corporations. 9 ‘‘(3) PROHIBITION ON USE OF APPROPRIATED 10 FUNDS.—Amounts appropriated to the Department 11 of Energy before the date of enactment of this sub- 12 section shall not be available to be used for the cost 13 of loan guarantees made to State energy financing 14 institutions under this subsection.’’. 15 VerDate Sep 11 2014 03:09 Dec 19, 2019 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S2399.RS S2399 pamtmann on DSKBC07HB2PROD with BILLS VerDate Sep 11 2014 03:09 Dec 19, 2019 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S2399.RS S2399 pamtmann on DSKBC07HB2PROD with BILLS Calendar No. 386 116TH CONGRESS 1ST SESSION S. 2399 A BILL To amend the Energy Policy Act of 2005 to im- prove State loan eligibility for projects for inno- vative technologies. DECEMBER 18, 2019 Reported with amendments VerDate Sep 11 2014 03:09 Dec 19, 2019 Jkt 099200 PO 00000 Frm 00006 Fmt 6651 Sfmt 6651 E:\BILLS\S2399.RS S2399 pamtmann on DSKBC07HB2PROD with BILLS