Title 30, Mineral Lands and MiningRelease 119-110
§1513 Loan Interest Rates; Repayment Periods
Title 30 › CHAPTER 27 — GEOTHERMAL ENERGY › SUBCHAPTER I — PROJECT LOANS › § 1513
Summary
Loans made under section 1511 must use the same interest rate that applies to water resources planning projects under section 80 of the Water Resources Development Act of 1974 (42 U.S.C. 1962(d)–17(a)) at the time the loan is made. The Secretary decides the loan length, but it cannot extend more than 20 years after the reservoir starts producing energy; if the Secretary finds revenues cannot repay principal and interest within those 20 years, the 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)).
(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
Sep 23, 2026
Release point: 119-110