870 
‘‘(b) DEFINITIONS.—In this section: 
‘‘(1) ELIGIBLE ENTITY.—The term ‘eligible en-
tity’ means— 
‘‘(A) any public power district, public util-
ity district, or similar entity, or any electric co-
operative described in section 501(c)(12) or 
1381(a)(2) of the Internal Revenue Code of 
1986, that borrowed and repaid, prepaid, or is 
paying an electric loan made or guaranteed by 
the Rural Utilities Service (or any predecessor 
agency); 
‘‘(B) any entity primarily owned or con-
trolled by 1 or more entities described in sub-
paragraph (A); or 
‘‘(C) any other entity that is an eligible 
borrower of the Rural Utility Service, as deter-
mined under section 1710.101 of title 7, Code 
of Federal Regulations (or a successor regula-
tion). 
‘‘(2) ENERGY
EFFICIENCY
MEASURES.—The 
term ‘energy efficiency measures’ means, for or at 
property served by an eligible entity, structural im-
provements and investments in cost-effective, com-
mercial technologies to increase energy efficiency. 
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‘‘(3) QUALIFIED CONSUMER.—The term ‘quali-
fied consumer’ means a consumer served by an eligi-
ble entity that has the ability to repay a loan made 
under subsection (d), as determined by the eligible 
entity. 
‘‘(4) SECRETARY.—The term ‘Secretary’ means 
the Secretary of Agriculture, acting through the Ad-
ministrator of the Rural Utilities Service. 
‘‘(c) LOANS TO ELIGIBLE ENTITIES.— 
‘‘(1) IN GENERAL.—Subject to paragraph (2), 
the Secretary shall make loans to eligible entities 
that agree to use the loan funds to make loans to 
qualified consumers for the purpose of implementing 
energy efficiency measures. 
‘‘(2) REQUIREMENTS.— 
‘‘(A) IN GENERAL.—As a condition of re-
ceiving a loan under this subsection, an eligible 
entity shall— 
‘‘(i) establish a list of energy effi-
ciency measures that is expected to de-
crease energy use or costs of qualified con-
sumers; 
‘‘(ii) prepare an implementation plan 
for use of the loan funds, including use of 
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any interest to be received pursuant to 
subsection (d)(1)(A); 
‘‘(iii) provide for appropriate measure-
ment and verification to ensure— 
‘‘(I) the effectiveness of the en-
ergy efficiency loans made by the eli-
gible entity; and 
‘‘(II) that there is no conflict of 
interest in carrying out this section; 
and 
‘‘(iv) demonstrate expertise in effec-
tive use of energy efficiency measures at 
an appropriate scale. 
‘‘(B) REVISION OF LIST OF ENERGY EFFI-
CIENCY MEASURES.—Subject to the approval of 
the Secretary, an eligible entity may update the 
list required under subparagraph (A)(i) to ac-
count for newly available efficiency technologies. 
‘‘(C) EXISTING ENERGY EFFICIENCY PRO-
GRAMS.—An eligible entity that, at any time be-
fore the date that is 60 days after the date of 
enactment of this section, has established an 
energy efficiency program for qualified con-
sumers may use an existing list of energy effi-
ciency measures, implementation plan, or meas-
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urement and verification system of that pro-
gram to satisfy the requirements of subpara-
graph (A) if the Secretary determines the list, 
plan, or systems are consistent with the pur-
poses of this section. 
‘‘(3) NO INTEREST.—A loan under this sub-
section shall bear no interest. 
‘‘(4) REPAYMENT.—With respect to a loan 
under paragraph (1)— 
‘‘(A) the term shall not exceed 20 years 
from the date on which the loan is closed; and 
‘‘(B) except as provided in paragraph (6), 
the repayment of each advance shall be amor-
tized for a period not to exceed 10 years. 
‘‘(5) AMOUNT OF ADVANCES.—Any advance of 
loan funds to an eligible entity in any single year 
shall not exceed 50 percent of the approved loan 
amount. 
‘‘(6) SPECIAL ADVANCE FOR START-UP ACTIVI-
TIES.— 
‘‘(A) IN GENERAL.—In order to assist an 
eligible entity in defraying the appropriate 
start-up costs (as determined by the Secretary) 
of establishing new programs or modifying ex-
isting programs to carry out subsection (d), the 
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