Title 30 — Mineral Lands and MiningRelease 119-73

§1513 Loan interest rates; repayment periods

Title 30 › Chapter CHAPTER 27— - GEOTHERMAL ENERGY › Subchapter SUBCHAPTER I— - PROJECT LOANS › § 1513

Last updated Apr 6, 2026|Official source

Summary

Loans made under section 1511 must use the same interest rate that applies at the time to water resources planning projects under the Water Resources Development Act of 1974 (42 U.S.C. 1962d–17(a)). The Secretary picks the loan term, but no loan can go beyond 20 years after energy or geothermal production starts from the reservoir. If, as the Secretary finds, revenues are not enough to repay principal and interest within those 20 years, any remaining unpaid balance is forgiven.

Full Legal Text

Title 30, §1513

Mineral Lands and Mining — Source: USLM XML via OLRC

(a)Each loan made under section 1511 of this title shall bear interest at a discount or interest rate equal to the rate in effect (at the time the loan is made) for water resources planning projects under section 80 of the Water Resources Development Act of 1974 (42 U.S.C. 1962(d)–17(a)).11 So in original. Should be “(42 U.S.C. 1962d–17(a)).”

(b)Each such loan shall be for a term which the Secretary deems appropriate, except that no loan term shall exceed twenty years beyond the date on which production of energy or geothermal energy resources begins from the reservoir involved. If revenues are inadequate (as determined by the Secretary) to fully repay the principal and accrued interest within twenty years after production begins, any remaining unpaid amounts shall be forgiven.

Reference

Citations & Metadata

Citation

30 U.S.C. § 1513

Title 30 — Mineral Lands and Mining

Last Updated

Apr 6, 2026

Release point: 119-73