16 U.S.C. § 2702: Loans for feasibility studies

Summary

The Secretary, after talking with the Commission, can lend money to a city, electric cooperative, industrial development agency, nonprofit, or other person. The loan can pay up to 90% of the cost of studies to see if a small hydropower project at an existing dam would work, and of preparing and pursuing any needed federal, state, or local licenses and approvals. If the study shows the project would not be technically or economically feasible, the Secretary can cancel the unpaid loan balance and any interest that has accrued.

Title 16, §2702

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(a)Loan authority

The Secretary, after consultation with the Commission, is authorized to make a loan to any municipality, electric cooperative, industrial development agency, nonprofit organization, or other person to assist such person in defraying up to 90 percent of the costs of— (1)

(2)preparing any application for a necessary license or other Federal, State, and local approval respecting such a project at an existing dam or dams and of participating in any administrative proceeding regarding any such application.

(b)Cancellation

The Secretary may cancel the unpaid balance and any accrued interest on any loan granted pursuant to this section if he determines on the basis of the study that the small hydroelectric power project would not be technically or economically feasible.

Editorial Notes

References in Text

The Secretary, referred to in text, and the Commission, referred to in subsec. (a), mean the Secretary of Energy and the Federal Energy Regulatory Commission, respectively, see section 2602(3), (14) of this title.

§2702 Loans for Feasibility Studies

Summary

Title 16, §2702

Notes & Related Subsidiaries

Editorial Notes

References in Text

Citations & Metadata