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Title 42, The Public Health and WelfareRelease 119-110

§15972 Loan to Place Alaska Clean Coal Technology Facility in Service

Title 42 › CHAPTER 149 — NATIONAL ENERGY POLICY AND PROGRAMS › SUBCHAPTER IV — COAL › Part B — Clean Power Projects › § 15972

Last updated Sep 22, 2026|Official source

Summary

Provides the owner of the clean coal plant near Healy, Alaska with a federal direct loan of up to $80,000,000 to help get the plant into reliable operation for making electricity. The owner is called the borrower. The plant is the Healy facility built under cooperative agreement DE–FC–22–91PC90544. The phrase "cost of a direct loan" is defined elsewhere in law. Before giving the loan, the Secretary must decide the borrower’s plan has a reasonable chance of working, that the loan plus other money will be enough, and that the borrower will likely repay. The Secretary sets the interest rate and loan term after talking with the Treasury Secretary and may add other conditions. Loan payments are kept to fund energy research and development. Congress may provide the money needed.

Full Legal Text

Title 42, §15972

The Public Health and Welfare, Source: USLM XML via OLRC

(a)Definitions
In this section: (1) Borrower
(2)Clean coal technology plant
The term “clean coal technology plant” means the plant located near Healy, Alaska, constructed under Department cooperative agreement number DE–FC–22–91PC90544.
(3)Cost of a direct loan
The term “cost of a direct loan” has the meaning given the term in section 661a(5)(B) of title 2.
(b)Authorization
Subject to subsection (c), the Secretary shall use amounts made available under subsection (e) to provide the cost of a direct loan to the borrower for purposes of placing the clean coal technology plant into reliable operation for the generation of electricity.
(c)Requirements
(1)Maximum loan amount
The amount of the direct loan provided under subsection (b) shall not exceed $80,000,000.
(2)Determinations by Secretary
Before providing the direct loan to the borrower under subsection (b), the Secretary shall determine that—
(A)the plan of the borrower for placing the clean coal technology plant in reliable operation has a reasonable prospect of success;
(B)the amount of the loan (when combined with amounts available to the borrower from other sources) will be sufficient to carry out the project; and
(C)there is a reasonable prospect that the borrower will repay the principal and interest on the loan.
(3)Interest; term
The direct loan provided under subsection (b) shall bear interest at a rate and for a term that the Secretary determines appropriate, after consultation with the Secretary of the Treasury, taking into account the needs and capacities of the borrower and the prevailing rate of interest for similar loans made by public and private lenders.
(4)Additional terms and conditions
The Secretary may require any other terms and conditions that the Secretary determines to be appropriate.
(d)Use of payments
The Secretary shall retain any payments of principal and interest on the direct loan provided under subsection (b) to support energy research and development activities, to remain available until expended, subject to any other conditions in an applicable appropriations Act.
(e)Authorization of appropriations
There are authorized to be appropriated such sums as are necessary to provide the cost of a direct loan under subsection (b).

Reference

Citations & Metadata

Citation

42 U.S.C. § 15972

Title 42, The Public Health and Welfare

Last Updated

Sep 22, 2026

Release point: 119-110