I 

116TH CONGRESS 

2D SESSION H. R. 8995 

To require the Secretary of Energy to establish programs for carbon dioxide 

capture, transport, utilization, and storage, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 16, 2020 

Mr. VEASEY (for himself, Mr. MCKINLEY, Mrs. BUSTOS, and Mr. STAUBER) 

introduced the following bill; which was referred to the Committee on 

Science, Space, and Technology, and in addition to the Committees on 

Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To require the Secretary of Energy to establish programs 

for carbon dioxide capture, transport, utilization, and 

storage, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Storing CO2 And Lowering Emissions Act’’ or the 

6 ‘‘SCALE Act’’. 

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1 (b) TABLE OF CONTENTS.—The table of contents for 

2 this Act is as follows: 

Sec. 1. Short title; table of contents. 

Sec. 2. Findings. 

TITLE I—UTILIZATION OF CARBON OXIDES 

Sec. 101. Carbon utilization program and carbon-to-value infrastructure development. 

TITLE II—TRANSPORTATION OF CAPTURED CARBON 

Sec. 201. Carbon dioxide transportation infrastructure finance and innovation. 

TITLE III—GEOLOGIC STORAGE OF CAPTURED CARBON 

Sec. 301. Secure geologic storage infrastructure development program. 

Sec. 302. Secure geologic storage permitting. 

3 SEC. 2. FINDINGS. 

4 Congress finds that— 

5 (1) the industrial sector is integral to the econ6 omy of the United States, providing millions of jobs, 

7 essential products, and demonstrating global leader8 ship in manufacturing and innovation; 

9 (2) carbon capture and storage technologies are 

10 necessary for reducing hard-to-abate emissions from 

11 the industrial sector, which emits nearly one quarter 

12 of the United States carbon dioxide emissions; 

13 (3) carbon removal and storage technologies, in14 cluding direct air capture, must be deployed at 

15 large-scale in the coming decades to remove carbon 

16 dioxide directly from the atmosphere; 

17 (4) large-scale deployment of carbon capture, 

18 removal, utilization, transport, and storage is critical 

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1 for achieving mid-century climate goals and will 

2 drive regional economic development, technological 

3 innovation, and high-wage employment; 

4 (5) carbon capture, removal, and utilization 

5 technologies require a backbone system of shared 

6 carbon dioxide transport and storage infrastructure 

7 to enable large-scale deployment, realize economies 

8 of scale, and create an interconnected carbon man9 agement market; 

10 (6) carbon dioxide transport infrastructure and 

11 permanent geological storage are proven and safe 

12 technologies with existing Federal and State regu13 latory frameworks; 

14 (7) carbon dioxide transport and storage infra15 structure share similar barriers to deployment pre16 viously faced by other types of critical national infra17 structure, such as high capital costs and chicken18 and-egg challenges, that require Federal and State 

19 support, in combination with private investment, to 

20 be overcome; and 

21 (8) each State should take into consideration, 

22 with respect to new carbon dioxide transportation in23 frastructure— 

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1 (A) qualifying such infrastructure as pollu2 tion control devices under applicable laws (in3 cluding regulations) of the State; and 

4 (B) establishing a waiver of ad valorem 

5 and property taxes for such infrastructure for a 

6 period of not less than 10 years. 

7 TITLE I—UTILIZATION OF 

8 CARBON OXIDES 

9 SEC. 101. CARBON UTILIZATION PROGRAM AND CARBON10 TO-VALUE INFRASTRUCTURE DEVELOPMENT. 

11 (a) IN GENERAL.—Subtitle F of title IX of the En12 ergy Policy Act of 2005 (42 U.S.C. 16291 et seq.) is 

13 amended by adding at the end the following: 

14 ‘‘SEC. 969. CARBON UTILIZATION PROGRAM. 

15 ‘‘(a) IN GENERAL.—The Secretary shall establish a 

16 program of research, development, and demonstration for 

17 carbon utilization— 

18 ‘‘(1) to identify and assess technologies and 

19 processes to produce products of commercial value, 

20 including chemicals, materials, and advanced fuels, 

21 that— 

22 ‘‘(A) use or are derived from anthropo23 genic carbon oxides; and 

24 ‘‘(B) will achieve significant net reductions 

25 in lifecycle greenhouse gas emissions compared 

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1 to incumbent technologies, processes, and prod2 ucts; 

3 ‘‘(2) to develop or obtain, in coordination with 

4 the heads of other applicable Federal agencies and 

5 standard-setting organizations, standards and cer6 tifications, as appropriate, to facilitate the commer7 cialization of the technologies and products described 

8 in paragraph (1); and 

9 ‘‘(3) to assess the lifecycle greenhouse gas emis10 sions associated with the technologies, processes, and 

11 products described in paragraph (1). 

12 ‘‘(b) CARBON-TO-VALUE RESEARCH, DEVELOPMENT, 

13 AND DEMONSTRATION CENTER.—Not later than 1 year 

14 after the date of enactment of this section, the Secretary 

15 shall establish a research, development, and demonstration 

16 center to support the program established under sub17 section (a). 

18 ‘‘(c) GRANT PROGRAM.— 

19 ‘‘(1) IN GENERAL.—Not later than 1 year after 

20 the date of enactment of this section, the Secretary 

21 shall establish a program to provide grants to eligi22 ble entities to use in accordance with paragraph (4). 

23 ‘‘(2) ELIGIBLE ENTITIES.—An entity eligible to 

24 receive a grant under this subsection is— 

25 ‘‘(A) a State; or 

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1 ‘‘(B) a unit of local government. 

2 ‘‘(3) APPLICATIONS.—To be eligible to receive a 

3 grant under this subsection, an eligible entity shall 

4 submit to the Secretary an application at such time, 

5 in such manner, and containing such information as 

6 the Secretary determines to be appropriate. 

7 ‘‘(4) USE OF FUNDS.—An eligible entity shall 

8 use a grant under this subsection to procure and use 

9 products of commercial value, including chemicals, 

10 materials, and advanced fuels, that— 

11 ‘‘(A) use or are derived from anthropo12 genic carbon oxides; and 

13 ‘‘(B) demonstrate significant net reduc14 tions in lifecycle greenhouse gas emissions com15 pared to incumbent technologies, processes, and 

16 products. 

17 ‘‘(d) AUTHORIZATION OF APPROPRIATIONS.—There 

18 is authorized to be appropriated to the Secretary to carry 

19 out this section $40,000,000 for each of fiscal years 2021 

20 through 2025.’’. 

21 (b) CLERICAL AMENDMENT.—The table of contents 

22 for the Energy Policy Act of 2005 (Public Law 109–58; 

23 119 Stat. 600) is amended by adding at the end of the 

24 items relating to subtitle F of title IX the following: 

‘‘Sec. 969. Carbon utilization program.’’. 

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1 TITLE II—TRANSPORTATION OF 

2 CAPTURED CARBON 

3 SEC. 201. CARBON DIOXIDE TRANSPORTATION INFRA4 STRUCTURE FINANCE AND INNOVATION. 

5 (a) IN GENERAL.—Title IX of the Energy Policy Act 

6 of 2005 (42 U.S.C. 16181 et seq.) is amended by adding 

7 at the end the following: 

8 ‘‘Subtitle J—Carbon Dioxide Trans9 portation Infrastructure Fi10 nance and Innovation 

11 ‘‘SEC. 999A. DEFINITIONS. 

12 ‘‘In this subtitle: 

13 ‘‘(1) CIFIA PROGRAM.—The term ‘CIFIA pro14 gram’ means the carbon dioxide transportation in15 frastructure finance and innovation program estab16 lished under section 999B(a). 

17 ‘‘(2) COMMON CARRIER.—The term ‘common 

18 carrier’ means a transportation infrastructure oper19 ator that— 

20 ‘‘(A) publishes a publicly available tariff 

21 containing the rates, terms, and conditions of 

22 non-discriminatory service; and 

23 ‘‘(B) holds itself out to provide transpor24 tation services to the public for a fee. 

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1 ‘‘(3) CONTINGENT COMMITMENT.—The term 

2 ‘contingent commitment’ means a commitment to 

3 obligate funds from future available budget author4 ity that is— 

5 ‘‘(A) contingent on those funds being made 

6 available in law at a future date; and 

7 ‘‘(B) not an obligation of the Federal Gov8 ernment. 

9 ‘‘(4) ELIGIBLE PROJECT COSTS.—The term ‘eli10 gible project costs’ means amounts substantially all 

11 of which are paid by, or for the account of, an obli12 gor in connection with a project, including the cost 

13 of— 

14 ‘‘(A) development-phase activities, includ15 ing planning, feasibility analysis, revenue fore16 casting, environmental review, permitting, pre17 liminary engineering and design work, and 

18 other preconstruction activities; 

19 ‘‘(B) construction, reconstruction, rehabili20 tation, replacement, and acquisition of real 

21 property (including land relating to the project 

22 and improvements to land), environmental miti23 gation, construction contingencies, and acquisi24 tion and installation of equipment (including 

25 labor); and 

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1 ‘‘(C) capitalized interest necessary to meet 

2 market requirements, reasonably required re3 serve funds, capital issuance expenses, and 

4 other carrying costs during construction. 

5 ‘‘(5) FEDERAL CREDIT INSTRUMENT.—The 

6 term ‘Federal credit instrument’ means a secured 

7 loan or loan guarantee authorized to be made avail8 able under the CIFIA program with respect to a 

9 project. 

10 ‘‘(6) LENDER.—The term ‘lender’ means any 

11 non-Federal qualified institutional buyer (as defined 

12 in section 230.144A(a) of title 17, Code of Federal 

13 Regulations (or a successor regulation), commonly 

14 known as Rule 144A(a) of the Securities and Ex15 change Commission and issued under the Securities 

16 Act of 1933 (15 U.S.C. 77a et seq.)), including— 

17 ‘‘(A) a qualified retirement plan (as de18 fined in section 4974(c) of the Internal Revenue 

19 Code of 1986) that is a qualified institutional 

20 buyer; and 

21 ‘‘(B) a governmental plan (as defined in 

22 section 414(d) of the Internal Revenue Code of 

23 1986) that is a qualified institutional buyer. 

24 ‘‘(7) LETTER OF INTEREST.—The term ‘letter 

25 of interest’ means a letter submitted by a potential 

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1 applicant prior to an application for credit assistance 

2 in a format prescribed by the Secretary on the 

3 website of the CIFIA program that— 

4 ‘‘(A) describes the project and the location, 

5 purpose, and cost of the project; 

6 ‘‘(B) outlines the proposed financial plan, 

7 including the requested credit and grant assist8 ance and the proposed obligor; 

9 ‘‘(C) provides a status of environmental re10 view; and 

11 ‘‘(D) provides information regarding satis12 faction of other eligibility requirements of the 

13 CIFIA program. 

14 ‘‘(8) LOAN GUARANTEE.—The term ‘loan guar15 antee’ means any guarantee or other pledge by the 

16 Secretary to pay all or part of the principal of, and 

17 interest on, a loan or other debt obligation issued by 

18 an obligor and funded by a lender. 

19 ‘‘(9) MASTER CREDIT AGREEMENT.—The term 

20 ‘master credit agreement’ means a conditional agree21 ment that— 

22 ‘‘(A) is for the purpose of extending credit 

23 assistance for— 

24 ‘‘(i) a project of high priority under 

25 section 999B(c)(3)(A); or 

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1 ‘‘(ii) a project covered under section 

2 999B(c)(3)(B); 

3 ‘‘(B) does not provide for a current obliga4 tion of Federal funds; and 

5 ‘‘(C) would— 

6 ‘‘(i) make a contingent commitment of 

7 a secured loan or other Federal credit in8 strument, or grant at a future date, sub9 ject to— 

10 ‘‘(I) the availability of future 

11 funds being made available to carry 

12 out the CIFIA program; and 

13 ‘‘(II) the satisfaction of all condi14 tions for the provision of credit assist15 ance under the CIFIA program, in16 cluding section 999C(b); 

17 ‘‘(ii) establish the maximum amounts 

18 and general terms and conditions of the se19 cured loans, other Federal credit instru20 ments, or grants; 

21 ‘‘(iii) identify the one or more dedi22 cated revenue sources that will secure the 

23 repayment of the secured loans or secured 

24 Federal credit instruments; 

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1 ‘‘(iv) provide for the obligation of 

2 funds for the secured loans, secured Fed3 eral credit instruments, or grants after all 

4 requirements have been met for the 

5 projects subject to the master credit agree6 ment, including— 

7 ‘‘(I) an environmental categorical 

8 exclusion, a finding of no significant 

9 impact, or a record of decision under 

10 the National Environmental Policy 

11 Act of 1969 (42 U.S.C. 4321 et seq.); 

12 ‘‘(II) compliance with all applica13 ble requirements specified under the 

14 CIFIA program, including sections 

15 999B(d) and 999C(b)(1); and 

16 ‘‘(III) the availability of funds to 

17 carry out the CIFIA program; and 

18 ‘‘(v) require that contingent commit19 ments shall result in a financial close and 

20 obligation of credit or grant assistance by 

21 not later than 3 years after the date of 

22 entry into the master credit agreement or 

23 release of the commitment, as applicable, 

24 unless otherwise extended by the Sec25 retary. 

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1 ‘‘(10) OBLIGOR.—The term ‘obligor’ means a 

2 corporation, partnership, joint venture, trust, gov3 ernmental entity, agency, or instrumentality, or 

4 other entity that is primarily liable for payment of 

5 the principal of, or interest on, a Federal credit in6 strument. 

7 ‘‘(11) PRODUCED IN THE UNITED STATES.— 

8 The term ‘produced in the United States’ means, in 

9 the case of iron or steel, that all manufacturing 

10 processes, including the application of a coating, 

11 occur in the United States. 

12 ‘‘(12) PROJECT.—The term ‘project’ means a 

13 project for common carrier carbon dioxide transpor14 tation infrastructure and associated equipment, in15 cluding pipeline, shipping, rail, or other transpor16 tation infrastructure and associated equipment, that 

17 will transport or handle carbon dioxide captured 

18 from anthropogenic sources or ambient air, as the 

19 Secretary determines to be appropriate. 

20 ‘‘(13) PROJECT OBLIGATION.—The term 

21 ‘project obligation’ means any note, bond, debenture, 

22 or other debt obligation issued by an obligor in con23 nection with the financing of a project, other than 

24 a Federal credit instrument. 

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1 ‘‘(14) SECURED LOAN.—The term ‘secured 

2 loan’ means a direct loan or other debt obligation 

3 issued by an obligor and funded by the Secretary in 

4 connection with the financing of a project under sec5 tion 999C. 

6 ‘‘(15) SUBSIDY AMOUNT.—The term ‘subsidy 

7 amount’ means the amount of budget authority suf8 ficient to cover the estimated long-term cost to the 

9 Federal Government of a Federal credit instru10 ment— 

11 ‘‘(A) calculated on a net present value 

12 basis; and 

13 ‘‘(B) excluding administrative costs and 

14 any incidental effects on governmental receipts 

15 or outlays in accordance with the Federal Cred16 it Reform Act of 1990 (2 U.S.C. 661 et seq.). 

17 ‘‘(16) SUBSTANTIAL COMPLETION.—The term 

18 ‘substantial completion’, with respect to a project, 

19 means the date— 

20 ‘‘(A) on which the project commences 

21 transportation of carbon dioxide; or 

22 ‘‘(B) of a comparable event to the event 

23 described in subparagraph (A), as determined 

24 by the Secretary and specified in the project 

25 credit agreement. 

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1 ‘‘SEC. 999B. DETERMINATION OF ELIGIBILITY AND 

2 PROJECT SELECTION. 

3 ‘‘(a) IN GENERAL.—The Secretary shall establish 

4 and carry out a carbon dioxide transportation infrastruc5 ture finance and innovation program, under which the 

6 Secretary shall provide Federal credit instruments and 

7 grants for eligible projects in accordance with this subtitle. 

8 ‘‘(b) ELIGIBILITY.— 

9 ‘‘(1) IN GENERAL.—A project shall be eligible 

10 to receive credit assistance and a grant under the 

11 CIFIA program if— 

12 ‘‘(A) the entity proposing to carry out the 

13 project submits a letter of interest prior to sub14 mission of a formal application for the project; 

15 and 

16 ‘‘(B) the project meets the criteria de17 scribed in this subsection. 

18 ‘‘(2) CREDITWORTHINESS.— 

19 ‘‘(A) IN GENERAL.—Each project and obli20 gor that receives credit assistance or a grant 

21 under the CIFIA program shall be credit22 worthy, such that there exists a reasonable 

23 prospect of repayment of the principal and in24 terest on the Federal credit instrument, as de25 termined by the Secretary. 

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1 ‘‘(B) CONSIDERATIONS.—In determining 

2 the creditworthiness of a project or obligor for 

3 purposes of this paragraph, the Secretary shall 

4 take into consideration relevant factors, includ5 ing— 

6 ‘‘(i) the terms, conditions, financial 

7 structure, and security features of the ap8 plicable proposed financing; 

9 ‘‘(ii) the dedicated revenue sources 

10 that will contribute to the project obliga11 tions; 

12 ‘‘(iii) the financial assumptions on 

13 which the project is based; and 

14 ‘‘(iv) the financial soundness and 

15 credit history of the obligor. 

16 ‘‘(C) SECURITY FEATURES.—The Sec17 retary shall ensure that any financing provided 

18 for a project under the CIFIA program has in 

19 effect appropriate security features supporting 

20 the project obligations to ensure repayment. 

21 ‘‘(3) APPLICATION.—To be eligible for assist22 ance under the CIFIA program, a State, local gov23 ernment, public authority, public-private partner24 ship, or any other legal entity carrying out the 

25 project and authorized by the Secretary, shall subVerDate Sep 11 2014 04:16 Jan 08, 2021 Jkt 019200 PO 00000 Frm 00016 Fmt 6652 Sfmt 6201 E:\BILLS\H8995.IH H8995
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1 mit to the Secretary a project application at such 

2 time, in such manner, and containing such informa3 tion as the Secretary determines to be appropriate. 

4 ‘‘(4) ELIGIBLE PROJECT COSTS.—A project 

5 under the CIFIA program shall have eligible project 

6 costs that are reasonably anticipated to equal or ex7 ceed $200,000,000. 

8 ‘‘(5) DEDICATED REVENUE SOURCES.—The ap9 plicable Federal credit instrument shall be repayable, 

10 in whole or in part, from— 

11 ‘‘(A) user fees; 

12 ‘‘(B) payments owing to the obligor under 

13 a public-private partnership; or 

14 ‘‘(C) other dedicated revenue sources that 

15 also secure or fund the project obligations. 

16 ‘‘(6) OBLIGOR WILL BE IDENTIFIED LATER.— 

17 A State, local government, agency, or instrumen18 tality of a State or local government, or public au19 thority may submit to the Secretary an application 

20 under paragraph (3), under which a private party to 

21 a public-private partnership will be— 

22 ‘‘(A) the obligor; and 

23 ‘‘(B) identified at a later date through 

24 completion of a procurement and selection of 

25 the private party. 

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1 ‘‘(7) BENEFICIAL EFFECTS.—The Secretary 

2 shall determine that financial assistance for each 

3 project under the CIFIA program will— 

4 ‘‘(A) foster, if appropriate, partnerships 

5 that attract public or private investment for the 

6 project; 

7 ‘‘(B) enable the project to proceed at an 

8 earlier date than the project would otherwise be 

9 able to proceed or reduce the lifecycle costs (in10 cluding debt service costs) of the project; and 

11 ‘‘(C) enable any associated project that— 

12 ‘‘(i) captures carbon dioxide from an 

13 anthropogenic source or ambient air; and 

14 ‘‘(ii) uses the transportation infra15 structure project supported by the CIFIA 

16 program. 

17 ‘‘(8) PROJECT READINESS.—To be eligible for 

18 assistance under the CIFIA program, the applicant 

19 shall demonstrate a reasonable expectation that the 

20 contracting process for construction of the project 

21 can commence by not later than 90 days after the 

22 date on which a Federal credit instrument or grant 

23 is obligated for the project under the CIFIA pro24 gram. 

25 ‘‘(c) SELECTION AMONG ELIGIBLE PROJECTS.— 

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1 ‘‘(1) ESTABLISHMENT OF APPLICATION PROC2 ESS.—The Secretary shall establish an application 

3 process under which projects that are eligible to re4 ceive assistance under subsection (b) may— 

5 ‘‘(A) receive credit assistance on terms ac6 ceptable to the Secretary, if adequate funds are 

7 available (including any funds provided on be8 half of an eligible project under paragraph 

9 (3)(B)(ii)) to cover the subsidy amount associ10 ated with the Federal credit instrument; and 

11 ‘‘(B) receive grants under section 999D 

12 if— 

13 ‘‘(i) adequate funds are available to 

14 cover the amount of the grant; and 

15 ‘‘(ii) the Secretary determines that 

16 the project is eligible under subsection (b) 

17 of that section. 

18 ‘‘(2) PRIORITY.—In selecting projects to receive 

19 credit assistance under subsection (b), the Secretary 

20 shall give priority to projects that— 

21 ‘‘(A) are large-capacity, common carrier 

22 infrastructure; 

23 ‘‘(B) have demonstrated demand for use of 

24 the infrastructure by multiple associated 

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1 projects that capture carbon dioxide from an2 thropogenic sources or ambient air; 

3 ‘‘(C) enable geographical diversity in asso4 ciated projects that capture carbon dioxide from 

5 anthropogenic sources or ambient air, with the 

6 goal of enabling projects in all major carbon di7 oxide-emitting regions of the United States; and 

8 ‘‘(D) are located within, or adjacent to, ex9 isting pipeline or other linear infrastructure 

10 corridors, in a manner that minimizes environ11 mental disturbance and other siting concerns. 

12 ‘‘(3) MASTER CREDIT AGREEMENTS.— 

13 ‘‘(A) PRIORITY PROJECTS.—The Secretary 

14 may enter into a master credit agreement for a 

15 project that the Secretary determines— 

16 ‘‘(i) will likely be eligible for credit as17 sistance under subsection (b), on obtain18 ing— 

19 ‘‘(I) additional firm commitments 

20 from associated carbon capture 

21 projects to use the project; or 

22 ‘‘(II) all necessary permits and 

23 approvals; and 

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1 ‘‘(ii) is a project of high priority, as 

2 determined in accordance with the criteria 

3 described in paragraph (2). 

4 ‘‘(B) ADEQUATE FUNDING NOT AVAIL5 ABLE.—If the Secretary fully obligates funding 

6 to eligible projects for a fiscal year and ade7 quate funding is not available to fund a Federal 

8 credit instrument, a project sponsor (including 

9 a unit of State or local government) of an eligi10 ble project may elect— 

11 ‘‘(i)(I) to enter into a master credit 

12 agreement in lieu of the Federal credit in13 strument; and 

14 ‘‘(II) to wait to execute a Federal 

15 credit instrument until the fiscal year for 

16 which additional funds are available to re17 ceive credit assistance; or 

18 ‘‘(ii) to pay the subsidy amount to 

19 fund the Federal credit instrument. 

20 ‘‘(d) FEDERAL REQUIREMENTS.— 

21 ‘‘(1) IN GENERAL.—Nothing in this subtitle su22 persedes the applicability of any other requirement 

23 under Federal law (including regulations). 

24 ‘‘(2) NEPA.—Federal credit assistance may 

25 only be provided under this subtitle for a project 

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1 that has received an environmental categorical exclu2 sion, a finding of no significant impact, or a record 

3 of decision under the National Environmental Policy 

4 Act of 1969 (42 U.S.C. 4321 et seq.). 

5 ‘‘(e) USE OF AMERICAN IRON, STEEL, AND MANU6 FACTURED GOODS.— 

7 ‘‘(1) No Federal credit instrument or grant au8 thorized to be made available under this section shall 

9 be made available with respect to a project unless all 

10 of the iron, steel, and manufactured goods used in 

11 the project are produced in the United States. 

12 ‘‘(2) Paragraph (1) shall not apply in any case 

13 or category of cases in which the Secretary finds 

14 that— 

15 ‘‘(A) applying paragraph (1) would be in16 consistent with the public interest; 

17 ‘‘(B) iron, steel, and the relevant manufac18 tured goods are not produced in the United 

19 States in sufficient and reasonably available 

20 quantities and of a satisfactory quality; or 

21 ‘‘(C) inclusion of iron, steel, and manufac22 tured goods produced in the United States will 

23 increase the cost of the overall project by more 

24 than 25 percent. 

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1 ‘‘(3) If the Secretary receives a request for a 

2 waiver of applicability of paragraph (1) under this 

3 subsection, the Secretary shall make available to the 

4 public on an informal basis a copy of the request 

5 and information available to the Secretary con6 cerning the request, and shall allow for informal 

7 public input on the request for at least 15 days prior 

8 to making a determination based on the request. 

9 The Secretary shall make the request and accom10 panying information available by electronic means, 

11 including on the official public website of the De12 partment of Energy, and shall make a determination 

13 concerning the request for a waiver within 120 days 

14 of its receipt. 

15 ‘‘(4) This subsection shall be applied in a man16 ner consistent with the United States obligations 

17 under international agreements. 

18 ‘‘(f) PREVAILING RATE OF WAGE.— 

19 ‘‘(1) IN GENERAL.—The Secretary shall ensure 

20 that laborers and mechanics employed by contractors 

21 and subcontractors on a project financed in whole or 

22 in part by credit assistance, a loan, or a grant made 

23 available under this section, section 999C, or section 

24 999D will be paid wages at rates not less than those 

25 prevailing on similar construction in the locality, as 

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1 determined by the Secretary of Labor under sub2 chapter IV of chapter 31 of title 40. 

3 ‘‘(2) AUTHORITY OF THE SECRETARY OF

4 LABOR.—With respect to the labor standards speci5 fied in paragraph (1), the Secretary of Labor shall 

6 have the authority and functions set forth in Reor7 ganization Plan Numbered 14 of 1950 (15 F.R. 

8 3176) and section 3145 of title 40, United States 

9 Code. 

10 ‘‘(g) APPLICATION PROCESSING PROCEDURES.— 

11 ‘‘(1) NOTICE OF COMPLETE APPLICATION.— 

12 Not later than 30 days after the date of receipt of 

13 an application under this section, the Secretary shall 

14 provide to the applicant a written notice describing 

15 whether— 

16 ‘‘(A) the application is complete; or 

17 ‘‘(B) additional information or materials 

18 are needed to complete the application. 

19 ‘‘(2) APPROVAL OR DENIAL OF APPLICATION.— 

20 Not later than 60 days after the date of issuance of 

21 a written notice under paragraph (1), the Secretary 

22 shall provide to the applicant a written notice in23 forming the applicant whether the Secretary has ap24 proved or disapproved the application. 

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1 ‘‘(h) DEVELOPMENT-PHASE ACTIVITIES.—Any Fed2 eral credit instrument secured under the CIFIA program 

3 may be used to finance up to 100 percent of the cost of 

4 development-phase activities, as described in section 

5 999A(4)(A). 

6 ‘‘SEC. 999C. SECURED LOANS. 

7 ‘‘(a) AGREEMENTS.— 

8 ‘‘(1) IN GENERAL.—Subject to paragraphs (2) 

9 and (3), the Secretary may enter into agreements 

10 with one or more obligors to make secured loans, the 

11 proceeds of which shall be used— 

12 ‘‘(A) to finance eligible project costs of any 

13 project selected under section 999B; 

14 ‘‘(B) to refinance interim construction fi15 nancing of eligible project costs of any project 

16 selected under section 999B; or 

17 ‘‘(C) to refinance long-term project obliga18 tions or Federal credit instruments, if the refi19 nancing provides additional funding capacity for 

20 the completion, enhancement, or expansion of 

21 any project that— 

22 ‘‘(i) is selected under section 999B; or 

23 ‘‘(ii) otherwise meets the requirements 

24 of that section. 

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1 ‘‘(2) LIMITATION ON REFINANCING OF INTERIM

2 CONSTRUCTION FINANCING.—A loan under para3 graph (1) shall not refinance interim construction fi4 nancing under paragraph (1)(B) if the maturity of 

5 that interim construction financing is later than 1 

6 year after the substantial completion of the project. 

7 ‘‘(3) RISK ASSESSMENT.—Before entering into 

8 an agreement under this subsection, the Secretary, 

9 in consultation with the Director of the Office of 

10 Management and Budget, shall determine an appro11 priate credit subsidy amount for each secured loan, 

12 taking into account all relevant factors, including the 

13 creditworthiness factors in section 999B(b)(2). 

14 ‘‘(b) TERMS AND LIMITATIONS.— 

15 ‘‘(1) IN GENERAL.—A secured loan under this 

16 section with respect to a project shall be on such 

17 terms and conditions and contain such covenants, 

18 representations, warranties, and requirements (in19 cluding requirements for audits) as the Secretary de20 termines to be appropriate. 

21 ‘‘(2) MAXIMUM AMOUNT.—The amount of a se22 cured loan under this section shall not exceed an 

23 amount equal to 80 percent of the reasonably antici24 pated eligible project costs. 

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1 ‘‘(3) PAYMENT.—A secured loan under this sec2 tion shall— 

3 ‘‘(A) be payable, in whole or in part, 

4 from— 

5 ‘‘(i) user fees; 

6 ‘‘(ii) payments owing to the obligor 

7 under a public-private partnership; or 

8 ‘‘(iii) other dedicated revenue sources 

9 that also secure the senior project obliga10 tions; and 

11 ‘‘(B) include a coverage requirement or 

12 similar security feature supporting the project 

13 obligations. 

14 ‘‘(4) INTEREST RATE.— 

15 ‘‘(A) IN GENERAL.—Except as provided in 

16 subparagraph (B), the interest rate on a se17 cured loan under this section shall be not less 

18 than the yield on United States Treasury secu19 rities of a similar maturity to the maturity of 

20 the secured loan on the date of execution of the 

21 loan agreement. 

22 ‘‘(B) LIMITED BUYDOWNS.— 

23 ‘‘(i) IN GENERAL.—Subject to clause 

24 (ii), the Secretary may lower the interest 

25 rate of a secured loan under this section if 

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1 the interest rate has increased between the 

2 period— 

3 ‘‘(I) beginning on, as applica4 ble— 

5 ‘‘(aa) the date on which an 

6 application acceptable to the Sec7 retary is submitted for the appli8 cable project; or 

9 ‘‘(bb) the date on which the 

10 Secretary entered into a master 

11 credit agreement for the applica12 ble project; and 

13 ‘‘(II) ending on the date on 

14 which the Secretary executes the Fed15 eral credit instrument for the applica16 ble project. 

17 ‘‘(ii) LIMITATION.—The interest rate 

18 of a secured loan may not be lowered pur19 suant to clause (i) by more than the lower 

20 of— 

‘‘(I) 11 21 ⁄2 percentage points (150 

22 basis points); and 

23 ‘‘(II) an amount equal to the 

24 amount of the increase in the interest 

25 rate described in that clause. 

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1 ‘‘(5) MATURITY DATE.—The final maturity 

2 date of the secured loan shall be the earlier of— 

3 ‘‘(A) the date that is 35 years after the 

4 date of substantial completion of the project; 

5 and 

6 ‘‘(B) if the useful life of the capital asset 

7 being financed is of a lesser period, the date 

8 that is the end of the useful life of the asset. 

9 ‘‘(6) NONSUBORDINATION.— 

10 ‘‘(A) IN GENERAL.—Except as provided in 

11 subparagraph (B), the secured loan shall not be 

12 subordinated to the claims of any holder of 

13 project obligations in the event of bankruptcy, 

14 insolvency, or liquidation of the obligor. 

15 ‘‘(B) PREEXISTING INDENTURE.— 

16 ‘‘(i) IN GENERAL.—The Secretary 

17 shall waive the requirement under subpara18 graph (A) for a public agency borrower 

19 that is financing ongoing capital programs 

20 and has outstanding senior bonds under a 

21 preexisting indenture, if— 

22 ‘‘(I) the secured loan is rated in 

23 the A category or higher; and 

24 ‘‘(II) the secured loan is secured 

25 and payable from pledged revenues 

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1 not affected by project performance, 

2 such as a tax-backed revenue pledge 

3 or a system-backed pledge of project 

4 revenues. 

5 ‘‘(ii) LIMITATION.—If the Secretary 

6 waives the nonsubordination requirement 

7 under this subparagraph— 

8 ‘‘(I) the maximum credit subsidy 

9 amount to be paid by the Federal 

10 Government shall be not more than 

11 10 percent of the principal amount of 

12 the secured loan; and 

13 ‘‘(II) the obligor shall be respon14 sible for paying the remainder of the 

15 subsidy amount, if any. 

16 ‘‘(7) FEES.—The Secretary may establish a fee, 

17 in an amount equal to not more than $1,000,000, to 

18 cover all or a portion of the costs to the Federal 

19 Government of making a secured loan under this 

20 section. 

21 ‘‘(8) MAXIMUM FEDERAL INVOLVEMENT.—The 

22 total Federal assistance provided for a project under 

23 the CIFIA program, including any grant provided 

24 under section 999D, shall not exceed an amount 

25 equal to 80 percent of the total project cost. 

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1 ‘‘(c) REPAYMENT.— 

2 ‘‘(1) SCHEDULE.—The Secretary shall establish 

3 a repayment schedule for each secured loan under 

4 this section based on— 

5 ‘‘(A) the projected cash flow from project 

6 revenues and other repayment sources; and 

7 ‘‘(B) the useful life of the project. 

8 ‘‘(2) COMMENCEMENT.—Scheduled loan repay9 ments of principal or interest on a secured loan 

10 under this section shall commence not later than 5 

11 years after the date of substantial completion of the 

12 project. 

13 ‘‘(3) DEFERRED PAYMENTS.— 

14 ‘‘(A) IN GENERAL.—If, at any time after 

15 the date of substantial completion of a project, 

16 the project is unable to generate sufficient reve17 nues in excess of reasonable and necessary op18 erating expenses to pay the scheduled loan re19 payments of principal and interest on the se20 cured loan, the Secretary may, subject to sub21 paragraph (C), allow the obligor to add unpaid 

22 principal and interest to the outstanding bal23 ance of the secured loan. 

24 ‘‘(B) INTEREST.—Any payment deferred 

25 under subparagraph (A) shall— 

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1 ‘‘(i) continue to accrue interest in ac2 cordance with subsection (b)(4) until fully 

3 repaid; and 

4 ‘‘(ii) be scheduled to be amortized 

5 over the remaining term of the loan. 

6 ‘‘(C) CRITERIA.— 

7 ‘‘(i) IN GENERAL.—Any payment de8 ferral under subparagraph (A) shall be 

9 contingent on the project meeting criteria 

10 established by the Secretary. 

11 ‘‘(ii) REPAYMENT STANDARDS.—The 

12 criteria established pursuant to clause (i) 

13 shall include standards for reasonable as14 surance of repayment. 

15 ‘‘(4) PREPAYMENT.— 

16 ‘‘(A) USE OF EXCESS REVENUES.—Any 

17 excess revenues that remain after satisfying 

18 scheduled debt service requirements on the 

19 project obligations and secured loan and all de20 posit requirements under the terms of any trust 

21 agreement, bond resolution, or similar agree22 ment securing project obligations may be ap23 plied annually to prepay the secured loan, with24 out penalty. 

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1 ‘‘(B) USE OF PROCEEDS OF REFI2 NANCING.—A secured loan may be prepaid at 

3 any time without penalty from the proceeds of 

4 refinancing from non-Federal funding sources. 

5 ‘‘(d) SALE OF SECURED LOANS.— 

6 ‘‘(1) IN GENERAL.—Subject to paragraph (2), 

7 as soon as practicable after substantial completion of 

8 a project and after notifying the obligor, the Sec9 retary may sell to another entity or reoffer into the 

10 capital markets a secured loan for the project if the 

11 Secretary determines that the sale or reoffering can 

12 be made on favorable terms. 

13 ‘‘(2) CONSENT OF OBLIGOR.—In making a sale 

14 or reoffering under paragraph (1), the Secretary 

15 may not change any original term or condition of the 

16 secured loan without the written consent of the obli17 gor. 

18 ‘‘(e) LOAN GUARANTEES.— 

19 ‘‘(1) IN GENERAL.—The Secretary may provide 

20 a loan guarantee to a lender in lieu of making a se21 cured loan under this section if the Secretary deter22 mines that the budgetary cost of the loan guarantee 

23 is substantially the same as that of a secured loan. 

24 ‘‘(2) TERMS.—The terms of a loan guarantee 

25 under paragraph (1) shall be consistent with the 

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1 terms required under this section for a secured loan, 

2 except that the rate on the guaranteed loan and any 

3 prepayment features shall be negotiated between the 

4 obligor and the lender, with the consent of the Sec5 retary. 

6 ‘‘SEC. 999D. CARBON DIOXIDE TRANSPORTATION INFRA7 STRUCTURE FUTURE GROWTH GRANT PRO8 GRAM. 

9 ‘‘(a) ESTABLISHMENT.—The Secretary shall estab10 lish a program under which the Secretary may provide 

11 grants to pay a portion of the cost differential, with re12 spect to any projected future increase in demand for car13 bon dioxide transportation by an infrastructure project de14 scribed in subsection (b), between— 

15 ‘‘(1) the cost of constructing the infrastructure 

16 asset with the capacity to transport an increased 

17 flow rate of carbon dioxide, as made practicable 

18 under the project; and 

19 ‘‘(2) the cost of constructing the infrastructure 

20 asset with the capacity to transport carbon dioxide 

21 at the flow rate initially required, based on commit22 ments for the use of the asset. 

23 ‘‘(b) ELIGIBILITY.—To be eligible to receive a grant 

24 under the program under this section, an entity shall— 

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1 ‘‘(1) be eligible to receive credit assistance 

2 under the CIFIA program; 

3 ‘‘(2) carry out, or propose to carry out, a 

4 project for large-capacity, common carrier infra5 structure with a probable future increase in demand 

6 for carbon dioxide transportation; and 

7 ‘‘(3) submit to the Secretary an application at 

8 such time, in such manner, and containing such in9 formation as the Secretary determines to be appro10 priate. 

11 ‘‘(c) USE OF FUNDS.—A grant provided under this 

12 section may be used only to pay the costs of any additional 

13 flow rate capacity of a carbon dioxide transportation infra14 structure asset that the project sponsor demonstrates to 

15 the satisfaction of the Secretary can reasonably be ex16 pected to be used during the 20-year period beginning on 

17 the date of substantial completion of the project described 

18 in subsection (b)(2). 

19 ‘‘(d) MAXIMUM AMOUNT.—The amount of a grant 

20 provided under this section may not exceed an amount 

21 equal to 80 percent of the cost of the additional capacity 

22 described in subsection (a). 

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1 ‘‘SEC. 999E. PROGRAM ADMINISTRATION. 

2 ‘‘(a) REQUIREMENT.—The Secretary shall establish 

3 a uniform system to service the Federal credit instruments 

4 made available under the CIFIA program. 

5 ‘‘(b) FEES.—The Secretary may collect and spend 

6 fees, contingent on authority being provided in appropria7 tions Acts, at a level that is sufficient to cover— 

8 ‘‘(1) the costs of services of expert firms re9 tained pursuant to subsection (d); and 

10 ‘‘(2) all or a portion of the costs to the Federal 

11 Government of servicing the Federal credit instru12 ments. 

13 ‘‘(c) SERVICER.— 

14 ‘‘(1) IN GENERAL.—The Secretary may appoint 

15 a financial entity to assist the Secretary in servicing 

16 the Federal credit instruments. 

17 ‘‘(2) DUTIES.—A servicer appointed under 

18 paragraph (1) shall act as the agent for the Sec19 retary. 

20 ‘‘(3) FEE.—A servicer appointed under para21 graph (1) shall receive a servicing fee, subject to ap22 proval by the Secretary. 

23 ‘‘(d) ASSISTANCE FROM EXPERT FIRMS.—The Sec24 retary may retain the services of expert firms, including 

25 counsel, in the field of municipal and project finance to 

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1 assist in the underwriting and servicing of Federal credit 

2 instruments. 

3 ‘‘(e) EXPEDITED PROCESSING.—The Secretary shall 

4 implement procedures and measures to economize the time 

5 and cost involved in obtaining approval and the issuance 

6 of credit assistance under the CIFIA program. 

7 ‘‘SEC. 999F. STATE AND LOCAL PERMITS. 

8 ‘‘The provision of credit assistance under the CIFIA 

9 program with respect to a project shall not— 

10 ‘‘(1) relieve any recipient of the assistance of 

11 any project obligation to obtain any required State 

12 or local permit or approval with respect to the 

13 project; 

14 ‘‘(2) limit the right of any unit of State or local 

15 government to approve or regulate any rate of re16 turn on private equity invested in the project; or 

17 ‘‘(3) otherwise supersede any State or local law 

18 (including any regulation) applicable to the construc19 tion or operation of the project. 

20 ‘‘SEC. 999G. REGULATIONS. 

21 ‘‘The Secretary may promulgate such regulations as 

22 the Secretary determines to be appropriate to carry out— 

23 ‘‘(1) the CIFIA program; and 

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1 ‘‘(2) the carbon dioxide transportation infra2 structure future growth grant program established 

3 under section 999D(a). 

4 ‘‘SEC. 999H. FUNDING. 

5 ‘‘(a) FUNDING.— 

6 ‘‘(1) IN GENERAL.—There are authorized to be 

7 appropriated to the Secretary to carry out this sub8 title, to remain available until expended— 

9 ‘‘(A) $600,000,000 for each of fiscal years 

10 2021 and 2022; and 

11 ‘‘(B) $300,000,000 for each of fiscal years 

12 2023 through 2025. 

13 ‘‘(2) SPENDING AND BORROWING AUTHOR14 ITY.—Spending and borrowing authority for a fiscal 

15 year to enter into Federal credit instruments shall 

16 be promptly apportioned to the Secretary on a fiscal17 year basis. 

18 ‘‘(3) REESTIMATES.—If the subsidy amount of 

19 a Federal credit instrument is reestimated, the cost 

20 increase or decrease of the reestimate shall be borne 

21 by, or benefit, the general fund of the Treasury, con22 sistent with section 504(f) of the Congressional 

23 Budget Act of 1974 (2 U.S.C. 661c(f)). 

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1 ‘‘(4) AVAILABILITY.—Amounts made available 

2 under this subsection shall remain available until ex3 pended. 

4 ‘‘(5) ADMINISTRATIVE COSTS.—Of the amounts 

5 made available to carry out the CIFIA program, the 

6 Secretary may use not more than $8,500,000 (as in7 dexed for United States dollar inflation from the 

8 date of enactment of the Storing CO2 and Lowering 

9 Emissions Act (as measured by the Consumer Price 

10 Index)) for the administration of the CIFIA pro11 gram. 

12 ‘‘(b) CONTRACT AUTHORITY.— 

13 ‘‘(1) IN GENERAL.—Notwithstanding any other 

14 provision of law, execution of a term sheet by the 

15 Secretary of a Federal credit instrument that uses 

16 amounts made available under the CIFIA program 

17 shall impose on the United States a contractual obli18 gation to fund the Federal credit investment. 

19 ‘‘(2) AVAILABILITY.—Amounts made available 

20 to carry out the CIFIA program for a fiscal year 

21 shall be available for obligation on October 1 of the 

22 fiscal year.’’. 

23 (b) TECHNICAL AMENDMENT.—The table of contents 

24 for the Energy Policy Act of 2005 (Public Law 109–58; 

25 119 Stat. 600) is amended— 

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1 (1) in the item relating to section 917, by strik2 ing ‘‘Efficiency’’; 

3 (2) in the items relating to sections 957 

4 through 959, by inserting ‘‘Sec.’’ before ‘‘95’’ each 

5 place it appears; and 

6 (3) by striking the items relating to subtitle J 

7 of title IX (relating to ultra-deepwater and uncon8 ventional natural gas and other petroleum resources) 

9 and inserting the following: 

‘‘Subtitle J—Carbon Dioxide Transportation Infrastructure Finance and 

Innovation 

‘‘Sec. 999A. Definitions. 

‘‘Sec. 999B. Determination of eligibility and project selection. 

‘‘Sec. 999C. Secured loans. 

‘‘Sec. 999D. Carbon dioxide transportation infrastructure future growth grant 

program. 

‘‘Sec. 999E. Program administration. 

‘‘Sec. 999F. State and local permits. 

‘‘Sec. 999G. Regulations. 

‘‘Sec. 999H. Funding.’’. 

10 TITLE III—GEOLOGIC STORAGE 

11 OF CAPTURED CARBON 

12 SEC. 301. SECURE GEOLOGIC STORAGE INFRASTRUCTURE 

13 DEVELOPMENT PROGRAM. 

14 Section 963 of the Energy Policy Act of 2005 (42 

15 U.S.C. 16293) is amended by adding at the end the fol16 lowing: 

17 ‘‘(e) LARGE-SCALE CARBON STORAGE COMMER18 CIALIZATION PROGRAM.— 

19 ‘‘(1) IN GENERAL.—The Secretary shall estab20 lish a program to fund the development of dedicated 

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1 commercial geologic carbon dioxide storage sites that 

2 are designed to store not fewer than 50,000,000 

3 metric tons of carbon dioxide, including by funding 

4 activities to explore, characterize, and develop the 

5 storage sites and associated carbon dioxide transport 

6 infrastructure. 

7 ‘‘(2) PRIORITY.—In carrying out the program 

8 established under paragraph (1), the Secretary shall 

9 extend subsection (c)(4)(B) to any project con10 cerning a new or existing commercial geological car11 bon dioxide storage site under this subsection, and 

12 shall give priority to projects— 

13 ‘‘(A) with the largest carbon dioxide stor14 age capacity; or 

15 ‘‘(B) that will store carbon dioxide from 

16 multiple carbon capture facilities. 

17 ‘‘(3) COST SHARE.—The Secretary shall require 

18 cost sharing for projects under the program estab19 lished under paragraph (1) in accordance with sec20 tion 988. 

21 ‘‘(4) FUNDING.—There are authorized to be ap22 propriated to carry out this subsection— 

23 ‘‘(A) for each of fiscal years 2021 through 

24 2025, $500,000,000; and 

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1 ‘‘(B) for each of fiscal years 2026 through 

2 2030, such sums as may be necessary.’’. 

3 SEC. 302. SECURE GEOLOGIC STORAGE PERMITTING. 

4 (a) DEFINITIONS.—In this section: 

5 (1) ADMINISTRATOR.—The term ‘‘Adminis6 trator’’ means the Administrator of the Environ7 mental Protection Agency. 

8 (2) CLASS VI WELL.—The term ‘‘Class VI well’’ 

9 means a well described in section 144.6(f) of title 

10 40, Code of Federal Regulations (or successor regu11 lations). 

12 (b) GEOLOGIC SEQUESTRATION PERMITTING.—For 

13 the permitting of Class VI wells by the Administrator for 

14 the injection of carbon dioxide for the purpose of geologic 

15 sequestration in accordance with the requirements of the 

16 Safe Drinking Water Act (42 U.S.C. 300f et seq.) and 

17 the final rule of the Administrator entitled ‘‘Federal Re18 quirements Under the Underground Injection Control 

19 (UIC) Program for Carbon Dioxide (CO2) Geologic Se20 questration (GS) Wells’’ (75 Fed. Reg. 77230 (December 

21 10, 2010)), there are authorized to be appropriated— 

22 (1) for each of fiscal years 2021 through 2025, 

23 $5,000,000; and 

24 (2) for each of fiscal years 2026 through 2030, 

25 such sums as may be necessary. 

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1 (c) STATE PERMITTING PROGRAM GRANTS.— 

2 (1) ESTABLISHMENT.—The Administrator shall 

3 award grants to States that, pursuant to section 

4 1422 of the Safe Drinking Water Act (42 U.S.C. 

5 300h–1), receive the approval of the Administrator 

6 for a State underground injection control program 

7 for permitting Class VI wells for the injection of car8 bon dioxide. 

9 (2) USE OF FUNDS.—A State that receives a 

10 grant under paragraph (1) shall use the amounts re11 ceived under the grant to defray the expenses of the 

12 State related to the establishment and operation of 

13 a State underground injection control program de14 scribed in paragraph (1). 

15 (3) AUTHORIZATION OF APPROPRIATIONS.— 

16 There are authorized to be appropriated to carry out 

17 this subsection— 

18 (A) for the period of fiscal years 2021 

19 through 2025, $50,000,000; and 

20 (B) for the period of fiscal years 2026 

21 through 2030, such sums as may be necessary. 

Æ