I 

112TH CONGRESS 

1ST SESSION H. R. 3331 

To require an accounting for financial support made to promote the 

production or use of renewable energy, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 2, 2011 

Mr. SENSENBRENNER introduced the following bill; which was referred to the 

Committee on Energy and Commerce, and in addition to the Committee 

on Science, Space, and Technology, 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 an accounting for financial support made to promote the production or use of renewable energy, 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. 

4 This Act may be cited as the ‘‘Federal Accounting 

5 of Renewable Energy Act of 2011’’ or the ‘‘FARE Act 

6 of 2011’’. 


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1 SEC. 2. GREEN ECONOMICS ACCOUNTING. 

2 (a) IN GENERAL.—Not later than 60 days after the 

3 date of enactment of this Act, the head of each Federal 

4 agency shall submit to Congress an accounting for all fi5 nancial support (including grants, loans, loan guarantees, 

6 and direct payments) made by the agency during fiscal 

7 years 2009 through 2011 to promote the production or 

8 use of renewable energy. 

9 (b) RESULTS.—As part of the accounting for projects 

10 described in subsection (a), the Federal agency shall in11 clude in the accounting— 

12 (1) a list of the projects that directly led to the 

13 production or use of renewable energy (as of the 

14 date of the submission of the report); 

15 (2)(A) the quantity of renewable energy or 

16 products on the market as a direct result of the fi17 nancial support provided to the recipient company; 

18 and 

19 (B) the gross sales of the recipient company 

20 during the most recent fiscal year for which data are 

21 available; and 

22 (3)(A) the total quantity of financial support 

23 provided; 

24 (B) the total number of jobs created as a result 

25 of the financial support listed by temporary or full26 time employment; and 


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1 (C) the average cost to the recipient company 

2 of each full-time job created. 

3 (c) MINIMUM REQUIREMENTS.—In the case of 

4 projects described in subsection (a), each accounting re5 quired under this section shall provide a full accounting 

6 (including applicable percentages) for each project, includ7 ing— 

8 (1)(A) the applicable employment, sales, and 

9 revenue targets submitted by each recipient company 

10 before receiving financial support; and 

11 (B) a list of the recipient companies that sub12 stantially failed to meet the applicable targets; 

13 (2) a list of all recipient companies that re14 ceived financial support but are no longer in oper15 ation or have moved any portion of the operations 

16 of the companies to a location outside the United 

17 States, as of the date of enactment of this Act; and 

18 (3) a list of all venture capital firms that were 

19 directly involved in submitting the proposal for any 

20 financial support that was ultimately awarded. 

21 (d) INVESTIGATIONS.—If a recipient company re22 ceived financial support to carry out a project described 

23 in subsection (a) and the recipient company is no longer 

24 in existence or is unlikely to substantially achieve the pur25 pose of the financial support, the Inspector General of the 


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1 Federal agency that provided the financial support shall 

2 conduct a preliminary investigation of the documents sub3 mitted by the company and executives of the company to 

4 determine whether the company or executives potentially 

5 committed fraud in obtaining the financial support. 

6 SEC. 3. REVIEW OF LOAN GUARANTEES. 

7 Section 1702 of the Energy Policy Act of 2005 (42 

8 U.S.C. 16512) is amended by adding at the end the fol9 lowing new subsection: 

10 ‘‘(l) INDEPENDENT REVIEW.—No loan guarantee 

11 may be made under this section unless the Secretary finds 

12 that an independent review, paid for by the applicant for 

13 the guarantee, demonstrates the ability of the applicant 

14 to repay the loan to be guaranteed.’’. 

Æ 


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