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Title 42 — The Public Health and WelfareRelease 119-73not60

§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 Apr 5, 2026|Official source

Summary

The Secretary must use available funds to cover the cost of a direct loan so the owner can get the clean coal technology plant near Healy, Alaska, into reliable operation to make electricity. Borrower = the plant owner. Clean coal technology plant = the plant near Healy built under cooperative agreement DE–FC–22–91PC90544. Cost of a direct loan = has the meaning given in 2 U.S.C. 661a(5)(B). The loan cannot be more than $80,000,000. Before lending, the Secretary must find the owner’s plan likely to succeed, that the loan plus other money is enough, and that repayment is likely. The Secretary sets the interest rate and term after talking with the Treasury Secretary and may add other conditions. Repayments must be kept to support energy research and development and remain available until spent, subject to any appropriations rules. Money may be appropriated as needed to cover the loan cost.

Full Legal Text

Title 42, §15972

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

(a)In this section:
(1)The term “borrower” means the owner of the clean coal technology plant.
(2)The term “clean coal technology plant” means the plant located near Healy, Alaska, constructed under Department cooperative agreement number DE–FC–22–91PC90544.
(3)The term “cost of a direct loan” has the meaning given the term in section 661a(5)(B) of title 2.
(b)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)(1)The amount of the direct loan provided under subsection (b) shall not exceed $80,000,000.
(2)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)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)The Secretary may require any other terms and conditions that the Secretary determines to be appropriate.
(d)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)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

Apr 5, 2026

Release point: 119-73not60