§8835 General requirements regarding financial assistance

Summary

Give priority and the best financial terms to municipal waste energy projects that either make liquid fuel from municipal waste or replace petroleum or natural gas as a fuel. For other biomass projects, financial help is allowed only if the Energy Secretary finds they do not use petroleum or natural gas except for flame stabilization or start-up. If a project makes biomass fuel, help is allowed only if the Btu content of the biomass fuel produced is substantially higher than the Btu content of any petroleum or natural gas used to make it. Help can be given only if needed waste feedstocks are available and likely to remain available for the project’s expected life. The Energy Secretary must consider competition, the value and costs of any byproducts, and must find the project technically and economically viable. The aid must encourage, not replace, private investment. Projects must not use large amounts of waste paper that would otherwise be recycled or compete substantially with existing recycling/recovery facilities. The amount of aid must not be more than necessary. The terms must protect the United States’ financial interests and place reasonable risk on the recipient. Applicants must apply in the form the Energy Secretary requires and provide cost and income estimates, access to information, and assurances. Recipients must allow audits, keep records, and give access to them. Money repaid goes to the Treasury’s general fund as miscellaneous receipts. Contracts are U.S. obligations backed by the government. Contracts are final for holders unless there is fraud or material misrepresentation. No debt made, committed, or guaranteed under these programs may be sold to or bought by the Federal Financing Bank or any federal agency, unless a later law after June 30, 1980 specifically allows it.