not exceed 15 percent of the corresponding credit
authority to carry out this section. For purposes of
this paragraph—
(A) the term ‘‘cost’’ has the meaning given
such term in section 502(5) of the Federal
Credit Reform Act of 1990 (2 U.S.C. 661a);
and
(B) the term ‘‘credit authority’’ has the
meaning given such term in section 3(10) of the
Congressional Budget Act of 1974 (2 U.S.C.
622(10)).
(f) REPAYMENT.—Repayment on loans made under
this section and the proceeds from any other agreement
entered into by the Secretary of Commerce under this sec-
tion shall be credited to the Fund. A loan or loan guaran-
tee agreement under this section may, at the discretion
of the Secretary of Commerce, include a requirement—
(1) that a portion of any royalties received in
connection with a technology developed with finan-
cial assistance under this section be paid to the
United States; and
(2) in any case in which the technology is used
by the recipient of such financial assistance for the
production and sale of goods, that a payment equal
to the amount paid under paragraph (1) in connec-
tion with the technology be paid to the United
States.
(g) INTEREST.—Interest on a loan, or portion of a
loan, awarded or guaranteed by the Federal Government
under this section shall be at a rate determined by the
Secretary of the Treasury, at the time such loan is made,
to equal the then current average market yield on out-
standing debt obligations of the United States with re-
maining periods to maturity comparable to the maturity
of such loan, plus an additional charge of up to 1 percent
applied by the Secretary of Commerce to cover expected
defaults and reasonable administrative costs of carrying
out this section. For purposes of this section, the term
‘‘default’’ shall be defined by the Secretary of Commerce
by regulation.
(h) MANAGEMENT OF THE FUND.—The Secretary of
Commerce shall manage the Fund and shall annually sub-
mit to the Congress a report on the financial condition
and the results of operation of the Fund during the pre-
ceding fiscal year.
(i) TECHNICAL ASSISTANCE.—The Secretary of Com-
merce shall, upon request, provide technical assistance and
services, as appropriate and needed, to awardees under
this section and shall ensure that awardees have ready ac-
cess to such assistance. The Secretary may charge fees
for technical assistance and services. The Secretary may
waive such fees on a case-by-case basis. Fees paid to the
United States under this section shall be deposited in the
revolving fund.
(j) COORDINATION WITH OTHER FEDERAL ACTIVI-
TIES.—The Secretary of Commerce shall, to the maximum
extent practicable, coordinate the activities under this sec-
tion with similar Federal activities to avoid unnecessary
duplication of effort.
(k) OUTREACH
TO
ECONOMICALLY
DEPRESSED
AREAS.—The Secretary of Commerce shall seek to ensure
that qualified business concerns located in areas deter-
mined by the Secretary to have a depressed economy, or
a significant concentration of defense-related industries,
or chronically high unemployment, are notified of the
availability of financial assistance under this section and,
to the extent practicable, to encourage and facilitate the
participation of such qualified business concerns in activi-
ties for which financial assistance is provided under this
section.
TITLE VI—FINANCIAL AND
REGULATORY INCENTIVES
SEC. 601. USE OF ENVIRONMENTAL TECHNOLOGY PROD-
UCTS BY THE FEDERAL GOVERNMENT.
(a) ESTABLISHMENT.—The President shall establish
a program for evaluating and approving the purchase by
the Federal Government of environmental technology
products. The President shall—
(1) work with the performance standards pro-
grams established under section 401 to ensure sub-
stitutability of environmental technologies for con-
ventional technologies for the purposes of the Fed-
eral Government;
(2) establish a priority list of technologies for
inclusion under the program; and
(3) implement a plan for the procurement of
environmental technologies.
(b) REPORT.—Within one year after the date of the
enactment of this Act and annually thereafter, the Presi-
dent shall submit to the Congress a report describing the
progress made in carrying out this section and plans for
carrying out this section for the three years immediately
following the year in which the report is submitted.
SEC. 602. STUDY OF REGULATORY INFLUENCES ON INNO-
VATION IN ENVIRONMENTAL TECHNOLOGIES.
(a) REVIEW.—The Administrator, working with
State regulatory agencies, shall conduct a study of current
environmental regulations and their effect upon innovation
in environmental technologies and the introduction of new
environmental products.
(b) REPORT.—The Administrator shall, within one
year after the date of the enactment of this Act, submit
to the Congress a report on the results of the study de-
scribed in subsection (a). The report shall contain any
suggestions of the Administrator for actions that could be
taken to increase the regulatory incentives for industrial
use of new environmental technologies.
SEC. 603. STUDY OF THE IMPACT OF TAX INCENTIVES ON
INNOVATION 
IN 
ENVIRONMENTAL 
TECH-
NOLOGIES.
The President shall study the potential for efficiently
encouraging the development and use of environmental
technologies through tax incentives. The study shall—
(1) review existing environmental and tech-
nology development tax incentives and estimate their
impact on the development and use of environmental
technologies;
(2) assess the potential of alternative tax incen-
tives that are considered promising for accelerating
the development and use of environmental tech-
nologies; and
(3) in coordination with the study of regulatory
effects on innovation in environmental technologies
established in section 602, assess the relationship
between existing regulations and proposed regulatory
reforms on the influence of existing and potential
tax incentives.
TITLE VII—AUTHORIZATION OF
APPROPRIATIONS
SEC. 701. AUTHORIZATION OF APPROPRIATIONS.
(a) IN GENERAL.—Except as provided in subsection
(b), there is hereby authorized to be appropriated for fiscal
years 1995 and 1996 such sums as may be necessary to
carry out this Act and the amendments made by this Act.
(b) ENVIRONMENTAL
TECHNOLOGIES
DEVELOP-
MENT AND INTEGRATION PROGRAM.—There is hereby au-
thorized to be appropriated to carry out the Environ-
mental Technologies Development and Integration Pro-
gram established in section 211—
(1) $80,000,000 for fiscal year 1995; and
(2) $120,000,000 for fiscal year 1996.
Æ
HR 3603 IH——2
HR 3603 IH——3