§15972 Loan to place Alaska clean coal technology facility in service

Summary

The Secretary must use money made available under this law to pay the cost of a direct loan to the owner of the clean coal plant near Healy, Alaska, so the plant can be put into reliable operation to generate electricity. The loan cannot be more than $80,000,000. Before making the loan, the Secretary must find the owner’s plan likely to succeed, that the loan plus other funds will be enough, and that the owner will probably repay. The Secretary will set the interest rate and term after consulting the Treasury Secretary and can add other conditions. Loan payments of principal and interest must be kept to support energy research and development and remain available until spent, subject to appropriations rules. Definitions: borrower = owner; clean coal technology plant = the Healy, Alaska plant built under cooperative agreement DE–FC–22–91PC90544; cost of a direct loan = meaning in 2 U.S.C. 661a(5)(B). Congress may appropriate the sums needed.