(3) by striking after clause (i) the following new 
clause: 
‘‘(ii) shall select projects based upon 
the extent to which the projects meet envi-
ronmental goals for feed stocks and refin-
eries, developed by the Secretary in con-
sultation with the Secretary of the Interior, 
the Secretary of Energy, and the National 
Academy of Sciences; and’’. 
(c) COST SHARING.—Subsection (f) of such section 
is amended to read as follows: 
‘‘(f) COST SHARING AND INTEREST RATES.— 
‘‘(1) IN GENERAL.—The combined amount of a 
grant and loan made or guaranteed under this sec-
tion shall not exceed 50 percent of the cost of the 
project. 
‘‘(2) FORM OF RECIPIENT SHARE.—The recipi-
ent share of the cost of a project may be made in 
the form of cash or the provision of services, mate-
rial, or other in-kind contributions. The amount of 
the recipient share made in the form of the provision 
of services, material, or other in-kind contributions 
shall not exceed 25 percent of the amount of the 
share determined under paragraph (1). 
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‘‘(3) INTEREST RATE.—A loan made under sub-
section (c) shall bear interest at the rate equivalent 
to the rate of interest charged on Treasury securities 
of comparable maturity on the date the loan is ap-
proved. The interest rate shall remain in effect for 
the term of the loan.’’. 
(d) ENERGY RESERVE PROGRAM.—Such section is 
further amended— 
(1) by redesignating subsections (g) and (h) as 
subsections (h) and (i), respectively; and 
(2) by inserting after subsection (f) the fol-
lowing new subsection: 
‘‘(g) ENERGY RESERVE PROGRAM.— 
‘‘(1) PROGRAM
REQUIRED.—Until December 
31, 2013, the Secretary shall carry out an energy re-
serve program under which not more than 100,000 
acres of land may be enrolled through the use of 
five-year contracts to assist owners and operators 
with the production of feed stocks for the projects 
carried out pursuant to this section. 
‘‘(2) ELIGIBLE LANDS.—The Secretary may in-
clude any land, regardless of a cropping history, so 
long as the feed stock is produced and harvested 
consistent with the needs of the environment, as pro-
vided in paragraph (3). 
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‘‘(3) DUTIES OF OWNERS AND OPERATORS.— 
Under a contract entered into under this subsection, 
an owner or operator of land shall implement a feed 
stock conservation plan to ensure that lands enrolled 
are managed consistent with the needs of the envi-
ronment, including the needs of wildlife. Paragraphs 
(5) and (6) of section 1232(a) of the Food Security 
Act of 1985 (16 U.S.C. 3832(a)) shall apply to the 
contracts 
‘‘(4) PAYMENTS.—The Secretary shall provide 
annual rental payments to owners and operators of 
lands of amounts not greater than $25,000 for any 
fiscal year, and shall establish the amounts of pay-
ments through— 
‘‘(A) the submission of bids for such con-
tracts by owners and operators in such manner 
as the Secretary may prescribe; or 
‘‘(B) such other means as the Secretary 
determines are appropriate.’’. 
(e) FUNDING.—Subsection (i) of such section, as 
amended by subsection (d)(1), is amended to read as fol-
lows: 
‘‘(i) FUNDING.—Of the funds of the Commodity 
Credit Corporation, the Secretary shall make available to 
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carry out this section $100,000,000 for each of fiscal 
years 2008 through 2013.’’. 
(f) CONFORMING AMENDMENTS.—Such section is 
further amended— 
(1) in the section heading, by striking 
‘‘GRANTS’’; 
(2) in subsection (c), by striking ‘‘a grant’’ and 
inserting ‘‘assistance’’; and 
(3) in subsection (e), by striking ‘‘grants’’ both 
places it appears and inserting ‘‘assistance’’. 
SEC. 203. REAUTHORIZATION OF ENERGY AUDIT AND RE-
NEWABLE 
ENERGY 
DEVELOPMENT 
PRO-
GRAM. 
Section 9005(i) of the Farm Security and Rural In-
vestment Act of 2002 (7 U.S.C. 8105(f)) is amended by 
striking ‘‘fiscal years 2002 through 2007’’ and inserting 
‘‘fiscal years 2008 through 2013’’. 
SEC. 204. REAUTHORIZATION OF AND INCREASED FUNDING 
FOR RENEWABLE ENERGY SYSTEMS AND EN-
ERGY 
EFFICIENCY 
IMPROVEMENTS 
PRO-
GRAM. 
Subsection (f) of section 9006 of the Farm Security 
and Rural Investment Act of 2002 (7 U.S.C. 8106) is 
amended to read as follows: 
‘‘(f) FUNDING.— 
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