I 
117TH CONGRESS 
1ST SESSION 
H. R. 806 
To establish a Clean Energy and Sustainability Accelerator, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 4, 2021 
Mrs. DINGELL introduced the following bill; which was referred to the Com-
mittee on Energy and Commerce, and in addition to the Committees on 
Financial Services, Transportation and Infrastructure, and Agriculture, 
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 establish a Clean Energy and Sustainability Accelerator, 
and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Clean Energy and Sus-
tainability Accelerator Act’’. 
SEC. 2. TABLE OF CONTENTS. 
The table of contents for this Act is as follows: 
Sec. 1. Short title. 
Sec. 2. Table of contents. 
Sec. 3. Clean Energy and Sustainability Accelerator. 
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‘‘Subtitle C—Clean Energy and Sustainability Accelerator 
‘‘Sec. 1621. Definitions. 
‘‘Sec. 1622. Establishment. 
‘‘Sec. 1623. Mandate. 
‘‘Sec. 1624. Finance and investment division. 
‘‘Sec. 1625. Start-up Division. 
‘‘Sec. 1626. Zero-emissions fleet and related infrastructure financing pro-
gram. 
‘‘Sec. 1627. Project prioritization and requirements. 
‘‘Sec. 1628. Exploration of accelerated clean energy transition program. 
‘‘Sec. 1629. Board of Directors. 
‘‘Sec. 1630. Administration. 
‘‘Sec. 1631. Establishment of risk management committee and audit com-
mittee. 
‘‘Sec. 1632. Oversight. 
SEC. 3. CLEAN ENERGY AND SUSTAINABILITY ACCEL-
ERATOR. 
Title XVI of the Energy Policy Act of 2005 (Public 
Law 109–58, as amended) is amended by adding at the 
end the following new subtitle: 
‘‘Subtitle C—Clean Energy and 
Sustainability Accelerator 
‘‘SEC. 1621. DEFINITIONS. 
‘‘In this subtitle: 
‘‘(1) ACCELERATOR.—The term ‘Accelerator’ 
means the Clean Energy and Sustainability Accel-
erator established under section 1622. 
‘‘(2) BOARD.—The term ‘Board’ means the 
Board of Directors of the Accelerator. 
‘‘(3) CHIEF
EXECUTIVE
OFFICER.—The term 
‘chief executive officer’ means the chief executive of-
ficer of the Accelerator. 
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‘‘(4) CLIMATE-IMPACTED
COMMUNITIES.—The 
term ‘climate-impacted communities’ includes— 
‘‘(A) communities of color, which include 
any geographically distinct area the population 
of color of which is higher than the average 
population of color of the State in which the 
community is located; 
‘‘(B) communities that are already or are 
likely to be the first communities to feel the di-
rect negative effects of climate change; 
‘‘(C) 
distressed 
neighborhoods, 
dem-
onstrated by indicators of need, including pov-
erty, childhood obesity rates, academic failure, 
and rates of juvenile delinquency, adjudication, 
or incarceration; 
‘‘(D) low-income communities, defined as 
any census block group in which 30 percent or 
more of the population are individuals with low 
income; 
‘‘(E) low-income households, defined as a 
household with annual income equal to, or less 
than, the greater of— 
‘‘(i) an amount equal to 80 percent of 
the median income of the area in which the 
household is located, as reported by the 
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Department of Housing and Urban Devel-
opment; and 
‘‘(ii) 200 percent of the Federal pov-
erty line; 
‘‘(F) Tribal communities; 
‘‘(G) persistent poverty counties, defined 
as any county that has had a poverty rate of 20 
percent or more for the past 30 years as meas-
ured by the 2000, 2010, and 2020 decennial 
censuses; 
‘‘(H) communities disproportionately af-
fected by environmental pollution and other 
hazards that can lead to negative public health 
effects; and 
‘‘(I) communities that are economically re-
liant on fossil fuel-based industries. 
‘‘(5) CLIMATE RESILIENT INFRASTRUCTURE.— 
The term ‘climate resilient infrastructure’ means 
any project that builds or enhances infrastructure so 
that such infrastructure— 
‘‘(A) is planned, designed, and operated in 
a way that anticipates, prepares for, and adapts 
to changing climate conditions; and 
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‘‘(B) can withstand, respond to, and re-
cover rapidly from disruptions caused by these 
climate conditions. 
‘‘(6) ELECTRIFICATION.—The term ‘electrifica-
tion’ means the installation, construction, or use of 
end-use electric technology that replaces existing fos-
sil-fuel-based technology. 
‘‘(7) ENERGY EFFICIENCY.—The term ‘energy 
efficiency’ means any project, technology, function, 
or measure that results in the reduction of energy 
use required to achieve the same level of service or 
output prior to the application of such project, tech-
nology, function, or measure, or substantially re-
duces greenhouse gas emissions relative to emissions 
that would have occurred prior to the application of 
such project, technology, function, or measure. 
‘‘(8) FUEL SWITCHING.—The term ‘fuel switch-
ing’ means any project that replaces a fossil-fuel- 
based heating system with an electric-powered sys-
tem or one powered by biomass-generated heat. 
‘‘(9) GREEN
BANK.—The term ‘green bank’ 
means a dedicated public or nonprofit specialized fi-
nance entity that— 
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‘‘(A) is designed to drive private capital 
into market gaps for low- and zero-emission 
goods and services; 
‘‘(B) uses finance tools to mitigate climate 
change; 
‘‘(C) does not take deposits; 
‘‘(D) is funded by government, public, pri-
vate, or charitable contributions; and 
‘‘(E) invests or finances projects— 
‘‘(i) alone; or 
‘‘(ii) in conjunction with other inves-
tors. 
‘‘(10) 
QUALIFIED
PROJECTS.—The 
terms 
‘qualified projects’ means the following kinds of 
technologies and activities that are eligible for fi-
nancing and investment from the Clean Energy and 
Sustainability Accelerator, either directly or through 
State, Territorial, and local green banks funded by 
the Clean Energy and Sustainability Accelerator: 
‘‘(A) Renewable energy generation, includ-
ing the following: 
‘‘(i) Solar. 
‘‘(ii) Wind. 
‘‘(iii) Geothermal. 
‘‘(iv) Hydropower. 
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‘‘(v) Ocean and hydrokinetic. 
‘‘(vi) Fuel cell. 
‘‘(B) 
Building 
energy 
efficiency, 
fuel 
switching, and electrification. 
‘‘(C) Industrial decarbonization. 
‘‘(D) Grid technology such as trans-
mission, distribution, and storage to support 
clean energy distribution, including smart-grid 
applications. 
‘‘(E) Agriculture and forestry projects that 
reduce net greenhouse gas emissions. 
‘‘(F) Clean transportation, including the 
following: 
‘‘(i) Battery electric vehicles. 
‘‘(ii) Plug-in hybrid electric vehicles. 
‘‘(iii) Hydrogen vehicles. 
‘‘(iv) Other zero-emissions fueled vehi-
cles. 
‘‘(v) Related vehicle charging and 
fueling infrastructure. 
‘‘(G) Climate resilient infrastructure. 
‘‘(H) Any other key areas identified by the 
Board as consistent with the mandate of the 
Accelerator as described in section 1623. 
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‘‘(11) RENEWABLE
ENERGY
GENERATION.— 
The term ‘renewable energy generation’ means elec-
tricity created by sources that are continually replen-
ished by nature, such as the sun, wind, and water. 
‘‘SEC. 1622. ESTABLISHMENT. 
‘‘(a) IN GENERAL.—Not later than 1 year after the 
date of enactment of this subtitle, there shall be estab-
lished a nonprofit corporation to be known as the Clean 
Energy and Sustainability Accelerator. 
‘‘(b) LIMITATION.—The Accelerator shall not be an 
agency or instrumentality of the Federal Government. 
‘‘(c) FULL FAITH AND CREDIT.—The full faith and 
credit of the United States shall not extend to the Accel-
erator. 
‘‘(d) NONPROFIT STATUS.—The Accelerator shall 
maintain its status as an organization exempt from tax-
ation under the Internal Revenue Code of 1986 (26 U.S.C. 
1 et seq.). 
‘‘SEC. 1623. MANDATE. 
‘‘The Accelerator shall make the United States a 
world leader in combating the causes and effects of climate 
change through the rapid deployment of mature tech-
nologies and scaling of new technologies by maximizing 
the reduction of emissions in the United States for every 
dollar deployed by the Accelerator, including by— 
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‘‘(1) providing financing support for invest-
ments in the United States in low- and zero-emis-
sions technologies and processes in order to rapidly 
accelerate market penetration; 
‘‘(2) catalyzing and mobilizing private capital 
through Federal investment and supporting a more 
robust marketplace for clean technologies, while 
avoiding competition with private investment; 
‘‘(3) enabling climate-impacted communities to 
benefit from and afford projects and investments 
that reduce emissions; 
‘‘(4) providing support for workers and commu-
nities impacted by the transition to a low-carbon 
economy; 
‘‘(5) supporting the creation of green banks 
within the United States where green banks do not 
exist; and 
‘‘(6) causing the rapid transition to a clean en-
ergy economy without raising energy costs to end 
users and seeking to lower costs where possible. 
‘‘SEC. 1624. FINANCE AND INVESTMENT DIVISION. 
‘‘(a) IN GENERAL.—There shall be within the Accel-
erator a finance and investment division, which shall be 
responsible for— 
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‘‘(1) the Accelerator’s greenhouse gas emissions 
mitigation efforts by directly financing qualifying 
projects or doing so indirectly by providing capital to 
State, Territorial, and local green banks; 
‘‘(2) originating, evaluating, underwriting, and 
closing the Accelerator’s financing and investment 
transactions in qualified projects; 
‘‘(3) partnering with private capital providers 
and capital markets to attract coinvestment from 
private banks, investors, and others in order to drive 
new investment into underpenetrated markets, to in-
crease the efficiency of private capital markets with 
respect to investing in greenhouse gas reduction 
projects, and to increase total investment caused by 
the Accelerator; 
‘‘(4) managing the Accelerator’s portfolio of as-
sets to ensure performance and monitor risk; 
‘‘(5) ensuring appropriate debt and risk mitiga-
tion products are offered; and 
‘‘(6) overseeing prudent, noncontrolling equity 
investments. 
‘‘(b) PRODUCTS AND INVESTMENT TYPES.—The fi-
nance and investment division of the Accelerator may pro-
vide capital to qualified projects in the form of— 
‘‘(1) senior, mezzanine, and subordinated debt; 
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‘‘(2) credit enhancements including loan loss re-
serves and loan guarantees; 
‘‘(3) aggregation and warehousing; 
‘‘(4) equity capital; and 
‘‘(5) any other financial product approved by 
the Board. 
‘‘(c) STATE, TERRITORIAL, AND
LOCAL
GREEN 
BANK CAPITALIZATION.—The finance and investment di-
vision of the Accelerator shall make capital available to 
State, Territorial, and local green banks to enable such 
banks to finance qualifying projects in their markets that 
are better served by a locally based entity, rather than 
through direct investment by the Accelerator. 
‘‘(d) INVESTMENT COMMITTEE.—The debt, risk miti-
gation, and equity investments made by the Accelerator 
shall be— 
‘‘(1) approved by the investment committee of 
the Board; and 
‘‘(2) consistent with an investment policy that 
has been established by the investment committee of 
the Board in consultation with the risk management 
committee of the Board. 
‘‘SEC. 1625. START-UP DIVISION. 
‘‘There shall be within the Accelerator a Start-up Di-
vision, which shall be responsible for providing technical 
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assistance and start-up funding to States and other polit-
ical subdivisions that do not have green banks to establish 
green banks in those States and political subdivisions, in-
cluding by working with relevant stakeholders in those 
States and political subdivisions. 
‘‘SEC. 1626. ZERO-EMISSIONS FLEET AND RELATED INFRA-
STRUCTURE FINANCING PROGRAM. 
‘‘Not later than 1 year after the date of establishment 
of the Accelerator, the Accelerator shall explore the estab-
lishment of a program to provide low- and zero-interest 
loans, up to 30 years in length, to any school, metropolitan 
planning organization, or nonprofit organization seeking 
financing for the acquisition of zero-emissions vehicle 
fleets or associated infrastructure to support zero-emis-
sions vehicle fleets. 
‘‘SEC. 1627. PROJECT PRIORITIZATION AND REQUIRE-
MENTS. 
‘‘(a) EMISSIONS REDUCTION MANDATE.—In invest-
ing in projects that mitigate greenhouse gas emissions, the 
Accelerator shall maximize the reduction of emissions in 
the United States for every dollar deployed by the Accel-
erator. 
‘‘(b) ENVIRONMENTAL JUSTICE PRIORITIZATION.— 
‘‘(1) IN GENERAL.—In order to address envi-
ronmental justice needs, the Accelerator shall, as ap-
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plicable, prioritize the provision of program benefits 
and investment activity that are expected to directly 
or indirectly result in the deployment of projects to 
serve, as a matter of official policy, climate-impacted 
communities. 
‘‘(2) MINIMUM PERCENTAGE.—The Accelerator 
shall ensure that over the 30-year period of its char-
ter 40 percent of its investment activity is directed 
to serve climate-impacted communities. 
‘‘(c) CONSUMER PROTECTION.— 
‘‘(1) PRIORITIZATION.—Consistent with the 
mandate under section 1623 to maximize the reduc-
tion of emissions in the United States for every dol-
lar deployed by the Accelerator, the Accelerator shall 
prioritize qualified projects according to benefits 
conferred on consumers and affected communities. 
‘‘(2) CONSUMER
CREDIT
PROTECTION.—The 
Accelerator shall ensure that any residential energy 
efficiency or distributed clean energy project in 
which the Accelerator invests directly or indirectly 
complies with the requirements of the Consumer 
Credit Protection Act (15 U.S.C. 1601 et seq.), in-
cluding, in the case of a financial product that is a 
residential mortgage loan, any requirements of title 
I of that Act relating to residential mortgage loans 
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(including any regulations promulgated by the Bu-
reau of Consumer Financial Protection under sec-
tion 
129C(b)(3)(C) 
of 
that 
Act 
(15 
U.S.C. 
1639c(b)(3)(C))). 
‘‘(d) LABOR.— 
‘‘(1) IN GENERAL.—The Accelerator shall en-
sure that laborers and mechanics employed by con-
tractors and subcontractors in construction work fi-
nanced directly by the Accelerator will be paid wages 
not less than those prevailing on similar construction 
in the locality, as determined by the Secretary of 
Labor under sections 3141 through 3144, 3146, and 
3147 of title 40, United States Code. 
‘‘(2) PROJECT LABOR AGREEMENT.—The Accel-
erator shall ensure that projects financed directly by 
the 
Accelerator 
with 
total 
capital 
costs 
of 
$100,000,000 or greater utilize a project labor 
agreement. 
‘‘SEC. 1628. EXPLORATION OF ACCELERATED CLEAN EN-
ERGY TRANSITION PROGRAM. 
‘‘Not later than 1 year after the date on which the 
Accelerator is established, the Board shall explore the es-
tablishment of an accelerated clean energy transition pro-
gram— 
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‘‘(1) to expedite the transition within the power 
sector to zero-emissions power generation facilities 
or assets; and 
‘‘(2) to simultaneously invest in local economic 
development in communities affected by this transi-
tion away from carbon-intensive facilities or assets. 
‘‘SEC. 1629. BOARD OF DIRECTORS. 
‘‘(a) IN GENERAL.—The Accelerator shall operate 
under the direction of a Board of Directors, which shall 
be composed of 7 members. 
‘‘(b) INITIAL COMPOSITION AND TERMS.— 
‘‘(1) SELECTION.—The initial members of the 
Board shall be selected as follows: 
‘‘(A) APPOINTED MEMBERS.—Three mem-
bers shall be appointed by the President, with 
the advice and consent of the Senate, of whom 
no more than two shall belong to the same po-
litical party. 
‘‘(B) ELECTED MEMBERS.—Four members 
shall be elected unanimously by the 3 members 
appointed and confirmed pursuant to subpara-
graph (A). 
‘‘(2) TERMS.—The terms of the initial members 
of the Board shall be as follows: 
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‘‘(A) The 3 members appointed and con-
firmed under paragraph (1)(A) shall have initial 
5-year terms. 
‘‘(B) Of the 4 members elected under 
paragraph (1)(B), 2 shall have initial 3-year 
terms, and 2 shall have initial 4-year terms. 
‘‘(c) SUBSEQUENT COMPOSITION AND TERMS.— 
‘‘(1) SELECTION.—Except for the selection of 
the initial members of the Board for their initial 
terms under subsection (b), the members of the 
Board shall be elected by the members of the Board. 
‘‘(2) DISQUALIFICATION.—A member of the 
Board shall be disqualified from voting for any posi-
tion on the Board for which such member is a can-
didate. 
‘‘(3) TERMS.—All members elected pursuant to 
paragraph (1) shall have a term of 5 years. 
‘‘(d) QUALIFICATIONS.—The members of the Board 
shall collectively have expertise in— 
‘‘(1) the fields of clean energy, electric utilities, 
industrial decarbonization, clean transportation, re-
siliency, and agriculture and forestry practices; 
‘‘(2) climate change science; 
‘‘(3) finance and investments; and 
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‘‘(4) environmental justice and matters related 
to the energy and environmental needs of climate- 
impacted communities. 
‘‘(e) RESTRICTION ON MEMBERSHIP.—No officer or 
employee of the Federal or any other level of government 
may be appointed or elected as a member of the Board. 
‘‘(f) QUORUM.—Five members of the Board shall 
constitute a quorum. 
‘‘(g) BYLAWS.— 
‘‘(1) IN GENERAL.—The Board shall adopt, and 
may amend, such bylaws as are necessary for the 
proper management and functioning of the Accel-
erator. 
‘‘(2) OFFICERS.—In the bylaws described in 
paragraph (1), the Board shall— 
‘‘(A) designate the officers of the Accel-
erator; and 
‘‘(B) prescribe the duties of those officers. 
‘‘(h) VACANCIES.—Any vacancy on the Board shall 
be filled through election by the Board. 
‘‘(i) INTERIM APPOINTMENTS.—A member elected to 
fill a vacancy occurring before the expiration of the term 
for which the predecessor of that member was appointed 
or elected shall serve for the remainder of the term for 
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which the predecessor of that member was appointed or 
elected. 
‘‘(j) REAPPOINTMENT.—A member of the Board may 
be elected for not more than 1 additional term of service 
as a member of the Board. 
‘‘(k) CONTINUATION OF SERVICE.—A member of the 
Board whose term has expired may continue to serve on 
the Board until the date on which a successor member 
is elected. 
‘‘(l) CHIEF EXECUTIVE OFFICER.—The Board shall 
appoint a chief executive officer who shall be responsible 
for— 
‘‘(1) hiring employees of the Accelerator; 
‘‘(2) establishing the 2 divisions of the Accel-
erator described in sections 1624 and 1625; and 
‘‘(3) performing any other tasks necessary for 
the day-to-day operations of the Accelerator. 
‘‘(m) ADVISORY COMMITTEE.— 
‘‘(1) ESTABLISHMENT.—The Accelerator shall 
establish an advisory committee (in this subsection 
referred to as the ‘advisory committee’), which shall 
be composed of not more than 13 members ap-
pointed by the Board on the recommendation of the 
president of the Accelerator. 
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‘‘(F) not fewer than 2 shall be representa-
tives of the financial services industry with 
knowledge of and experience in financing trans-
actions for clean energy and other sustainable 
infrastructure assets. 
‘‘(3) MEETINGS.—The advisory committee shall 
meet not less frequently than once each quarter. 
‘‘(4) DUTIES.—The advisory committee shall— 
‘‘(A) advise the Accelerator on the pro-
grams undertaken by the Accelerator; and 
‘‘(B) submit to the Congress an annual re-
port with comments from the advisory com-
mittee on the extent to which the Accelerator is 
meeting the mandate described in section 1623, 
including any suggestions for improvement. 
‘‘(n) CHIEF RISK OFFICER.— 
‘‘(1) APPOINTMENT.—Subject to the approval 
of the Board, the chief executive officer shall appoint 
a chief risk officer from among individuals with ex-
perience at a senior level in financial risk manage-
ment, who— 
‘‘(A) shall report directly to the Board; 
and 
‘‘(B) shall be removable only by a majority 
vote of the Board. 
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‘‘(2) DUTIES.—The chief risk officer, in coordi-
nation with the risk management and audit commit-
tees established under section 1632, shall develop, 
implement, and manage a comprehensive process for 
identifying, assessing, monitoring, and limiting risks 
to the Accelerator, including the overall portfolio di-
versification of the Accelerator. 
‘‘SEC. 1630. ADMINISTRATION. 
‘‘(a) CAPITALIZATION.— 
‘‘(1) IN GENERAL.—To the extent and in the 
amounts provided in advance in appropriations Acts, 
the Secretary of Energy shall transfer to the Accel-
erator— 
‘‘(A) $50,000,000,000 on the date on 
which the Accelerator is established under sec-
tion 1622; and 
‘‘(B) $10,000,000,000 on October 1 of 
each of the 5 fiscal years following that date. 
‘‘(2) AUTHORIZATION
OF
APPROPRIATIONS.— 
For purposes of the transfers under paragraph (1), 
there are authorized to be appropriated— 
‘‘(A) $50,000,000,000 for the fiscal year in 
which the Accelerator is established under sec-
tion 1622; and 
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‘‘(B) $10,000,000,000 for each of the 5 
succeeding fiscal years. 
‘‘(b) CHARTER.—The Accelerator shall establish a 
charter, the term of which shall be 30 years. 
‘‘(c) USE OF FUNDS AND RECYCLING.—To the ex-
tent and in the amounts provided in advance in appropria-
tions Acts, the Accelerator— 
‘‘(1) may use funds transferred pursuant to 
subsection (a)(1) to carry out this subtitle, including 
for operating expenses; and 
‘‘(2) shall retain and manage all repayments 
and other revenue received under this subtitle from 
financing fees, interest, repaid loans, and other types 
of funding to carry out this subtitle, including for— 
‘‘(A) operating expenses; and 
‘‘(B) recycling such payments and other 
revenue for future lending and capital deploy-
ment in accordance with this subtitle. 
‘‘(d) REPORT.—The Accelerator shall submit on a 
quarterly basis to the relevant committees of Congress a 
report that describes the financial activities, emissions re-
ductions, and private capital mobilization metrics of the 
Accelerator for the previous quarter. 
‘‘(e) RESTRICTION.—The Accelerator shall not accept 
deposits. 
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‘‘(f) COMMITTEES.—The Board shall establish com-
mittees and subcommittees, including— 
‘‘(1) an investment committee; and 
‘‘(2) in accordance with section 1631— 
‘‘(A) a risk management committee; and 
‘‘(B) an audit committee. 
‘‘SEC. 1631. ESTABLISHMENT OF RISK MANAGEMENT COM-
MITTEE AND AUDIT COMMITTEE. 
‘‘(a) IN GENERAL.—To assist the Board in fulfilling 
the duties and responsibilities of the Board under this sub-
title, the Board shall establish a risk management com-
mittee and an audit committee. 
‘‘(b) DUTIES AND RESPONSIBILITIES OF RISK MAN-
AGEMENT COMMITTEE.—Subject to the direction of the 
Board, the risk management committee established under 
subsection (a) shall establish policies for and have over-
sight responsibility for— 
‘‘(1) formulating the risk management policies 
of the operations of the Accelerator; 
‘‘(2) reviewing and providing guidance on oper-
ation of the global risk management framework of 
the Accelerator; 
‘‘(3) developing policies for— 
‘‘(A) investment; 
‘‘(B) enterprise risk management; 
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‘‘(C) monitoring; and 
‘‘(D) 
management 
of 
strategic, 
reputational, regulatory, operational, develop-
mental, environmental, social, and financial 
risks; and 
‘‘(4) developing the risk profile of the Accel-
erator, including— 
‘‘(A) a risk management and compliance 
framework; and 
‘‘(B) a governance structure to support 
that framework. 
‘‘(c) DUTIES AND RESPONSIBILITIES OF AUDIT COM-
MITTEE.—Subject to the direction of the Board, the audit 
committee established under subsection (a) shall have 
oversight responsibility for— 
‘‘(1) the integrity of— 
‘‘(A) the financial reporting of the Accel-
erator; and 
‘‘(B) the systems of internal controls re-
garding finance and accounting; 
‘‘(2) the integrity of the financial statements of 
the Accelerator; 
‘‘(3) the performance of the internal audit func-
tion of the Accelerator; and 
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‘‘(4) compliance with the legal and regulatory 
requirements related to the finances of the Accel-
erator. 
‘‘SEC. 1632. OVERSIGHT. 
‘‘(a) EXTERNAL OVERSIGHT.—The inspector general 
of the Department of Energy shall have oversight respon-
sibilities over the Accelerator. 
‘‘(b) REPORTS AND AUDIT.— 
‘‘(1) ANNUAL REPORT.—The Accelerator shall 
publish an annual report which shall be transmitted 
by the Accelerator to the President and the Con-
gress. 
‘‘(2) ANNUAL AUDIT OF ACCOUNTS.—The ac-
counts of the Accelerator shall be audited annually. 
Such audits shall be conducted in accordance with 
generally accepted auditing standards by inde-
pendent certified public accountants who are cer-
tified by a regulatory authority of the jurisdiction in 
which the audit is undertaken. 
‘‘(3) ADDITIONAL AUDITS.—In addition to the 
annual audits under paragraph (2), the financial 
transactions of the Accelerator for any fiscal year 
during which Federal funds are available to finance 
any portion of its operations may be audited by the 
Government Accountability Office in accordance with 
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