217 
provide that the Secretary may designate inter-
mediate ingredients and feedstocks (such as 
biopolymers, methyl soyate, and soy polyols) as 
biobased for the purposes of the voluntary pro-
gram established under this subsection.’’; and 
(3) by striking subsection (k)(2)(A) and insert-
ing the following: 
‘‘(A) IN GENERAL.—Of the funds of the 
Commodity Credit Corporation, the Secretary 
shall use $2,000,000 for each of fiscal years 
2008 through 2012 for bio-product testing and 
support ongoing operations of the Designation 
Program, the Voluntary Labeling Program, 
procurement program models, procurement re-
search, promotion, education, and awareness of 
the BioPreferred Program.’’. 
SEC. 5003. LOAN GUARANTEES FOR BIOREFINERIES AND 
BIOFUEL PRODUCTION PLANTS. 
Section 9003 of the Farm Security and Rural Invest-
ment Act of 2002 (7 U.S.C. 8103) is amended— 
(1) in the section heading, by inserting ‘‘; 
LOAN GUARANTEES FOR BIOREFINERIES AND 
BIOFUEL
PRODUCTION
PLANTS’’ 
after 
‘‘GRANTS’’; 
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218 
(2) in subsection (b)(2)(A), by striking ‘‘and’’ 
the 1st place it appears and inserting ‘‘or’’; 
(3) in subsection (c), by redesignating sub-
section (h) as subsection (j) and subsections (d) 
through (g) as subsections (e) through (h), respec-
tively, and inserting after subsection (c) the fol-
lowing: 
‘‘(d) LOAN GUARANTEES.— 
‘‘(1) IN GENERAL.—The Secretary shall make 
loan guarantees to eligible entities to assist in pay-
ing the cost of development and construction of bio-
refineries and biofuel production plants (including 
retrofitting) to carry out projects to demonstrate the 
commercial viability of 1 or more processes for con-
verting biomass to fuels or chemicals. 
‘‘(2) LIMITATIONS.— 
‘‘(A) MAXIMUM
PERCENTAGE
OF
LOAN 
GUARANTEED.—A loan guarantee under para-
graph (1) shall be for not more than 90 percent 
of the principal and interest due on the loan. 
‘‘(B) TOTAL
AMOUNTS
GUARANTEED.— 
The total amount of principal and interest 
guaranteed under paragraph (1) shall not ex-
ceed— 
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219 
‘‘(i) $600,000,000, in the case of 
loans 
valued 
at 
not 
more 
than 
$100,000,000; or 
‘‘(ii) $1,000,000,000, in the case of 
loans valued at more than $100,000,000 
but not more than $250,000,000. 
‘‘(C) MAXIMUM TERM OF LOAN GUARAN-
TEED.—The Secretary shall determine the max-
imum term of a loan guarantee provided under 
paragraph (1).’’; 
(4) in subsection (f) (as so redesignated)— 
(A) in paragraph (1), by inserting ‘‘and 
loan guarantees under subsection (d)’’ after 
‘‘(c)’’; 
(B) in paragraph (2)(A), by inserting ‘‘or 
loan guarantees under subsection (d)’’ after 
‘‘(c)’’; 
(C) in paragraph (2)(B)— 
(i) by striking ‘‘and’’ at the end of 
clause (viii); 
(ii) by striking the period at the end 
of clause (ix) and inserting ‘‘; and’’; and 
(iii) by adding at the end the fol-
lowing: 
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