(1) COVERED LOAN.—The term ‘‘covered loan’’ 
means any of the following issued after the date of 
enactment of this Act: 
(A) 
A 
loan 
issued 
under 
section 
40106(e)(1)(B) of the Infrastructure Invest-
ment 
and 
Jobs 
Act 
(42 
U.S.C. 
18713(e)(1)(B)). 
(B) A loan made for an eligible project de-
scribed in paragraph (2)(B) under the Trans-
mission Infrastructure Program of the Western 
Area Power Administration. 
(C) Any other loan made under a Depart-
ment of Energy loan program identified in the 
report required under subsection (f)(1) with re-
spect to electric power transmission lines that 
are capable of transmitting 999 megawatts or 
more. 
(2) ELIGIBLE
PROJECT.—The term ‘‘eligible 
project’’ means— 
(A) an eligible project (as defined in sec-
tion 40106(a) of the Infrastructure Investment 
and Jobs Act (42 U.S.C. 18713(a))) that is 
carried out using a covered loan described in 
paragraph (1)(A); 
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(B) a project for the purpose of con-
structing, financing, facilitating, planning, oper-
ating, or maintaining, or studying the construc-
tion of, new or upgraded electric power trans-
mission lines and related facilities with at least 
1 terminus within the service territory of the 
Western Area Power Administration that is car-
ried out using a covered loan described in para-
graph (1)(B); or 
(C) a project with respect to electric power 
transmission lines capable of transmitting 999 
megawatts or more that is carried out using a 
covered loan described in paragraph (1)(C). 
(3) FUND.—The term ‘‘Fund’’ means the Com-
munity Economic Development Transmission Fund 
established under subsection (b). 
(4) HOST COMMUNITY.—The term ‘‘host com-
munity’’ means— 
(A) a local government, such as a munici-
pality, town, or county, with jurisdiction over 
any land on which an eligible project is or will 
be carried out; or 
(B) an Indian Tribe with jurisdiction over 
any land on which an eligible project is or will 
be carried out. 
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(5) INDIAN TRIBE.—The term ‘‘Indian Tribe’’ 
has the meaning given the term in section 4 of the 
Indian Self-Determination and Education Assistance 
Act (25 U.S.C. 5304). 
(6) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Energy. 
(b) ESTABLISHMENT.—There is established in the 
Treasury a fund, to be known as the ‘‘Community Eco-
nomic Development Transmission Fund’’— 
(1) consisting of such amounts as may be de-
posited in the Fund pursuant to subsection (c); and 
(2) that shall be managed and administered by 
the Secretary to make payments, in accordance with 
this section, to host communities. 
(c) DEPOSITS IN THE FUND.— 
(1) IN GENERAL.—Notwithstanding any other 
provision of law, a portion, determined in accordance 
with paragraph (2), of the interest charged and col-
lected with respect to a covered loan each fiscal year 
shall be deposited in the Fund to carry out the pro-
visions of this Act. 
(2) DETERMINATION OF PORTION.—The Sec-
retary, in consultation with the Secretary of the 
Treasury, shall determine the portion of interest 
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charged and collected each fiscal year that shall be 
deposited in the Fund under this subsection. 
(d) EXPENDITURES FROM THE FUND.— 
(1) AVAILABILITY OF AMOUNTS.—Amounts in 
the Fund shall be available, as provided in appro-
priation Acts, for making payments as described in 
subsection (b)(2). 
(2) PAYMENTS.— 
(A) IN
GENERAL.—The Secretary shall 
make a payment to a host community under 
this section not later than 18 months after con-
struction of the applicable eligible project com-
mences. 
(B) SINGLE
SUM.—For any 1 eligible 
project, the Secretary may make not more than 
1 payment under this section to each host com-
munity eligible to receive a payment relating to 
that eligible project. 
(3) ELIGIBILITY.—A host community shall be 
eligible to receive a payment under this section if the 
host community— 
(A) submits a request to the Secretary not 
later than 1 year after the host community re-
ceives notice under paragraph (4); and 
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(B) certifies to the Secretary that the 
funds will be used for an eligible purpose de-
scribed in subsection (e). 
(4) NOTICE.—The Secretary shall provide host 
communities notice of the availability of payments 
under this section as part of the Federal siting and 
permitting processes for the applicable eligible 
project. 
(5) PAYMENT
AMOUNT.—In determining the 
amount of a payment to a host community under 
this section, the Secretary shall— 
(A) develop and use a formula for dis-
bursement of funds that, to the extent prac-
ticable, ensures the long-term solvency of the 
Fund; and 
(B) in developing that formula— 
(i) take into account input from host 
communities and stakeholder groups re-
garding the impacts of eligible projects on 
host communities; and 
(ii) include a small-population commu-
nity minimum as part of the formula. 
(6) PAYMENTS
IN
LIEU
OF
TAXES.—Any 
amount received by a host community from a pay-
ment made under this section shall be in addition to 
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any payment in lieu of taxes received by the host 
community under chapter 69 of title 31, United 
States Code. 
(e) ELIGIBLE USE OF FUNDS.— 
(1) COMMUNITY SUPPORT.—A host community 
may use up to 80 percent of the amounts received 
by that host community from a payment under this 
section to develop, deliver, or support— 
(A) services, projects, or programs that— 
(i) improve existing infrastructure or 
implement essential public services, includ-
ing services, projects, or programs relating 
to— 
(I) public schools; 
(II) public libraries; 
(III) public hospitals; 
(IV) roads, bridges, or public 
transportation; 
(V) community centers or parks; 
(VI) firefighting or search and 
rescue services; or 
(VII) law enforcement; 
(ii) provide or expand access to— 
(I) 
broadband 
telecommuni-
cations services at local community 
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anchor institutions (as defined in sec-
tion 60302 of the Digital Equity Act 
of 2021 (47 U.S.C. 1721)); 
(II) technology or connectivity 
needed for students to use a digital 
learning tool at or outside of a local 
school campus; or 
(III) farmers markets or other 
agricultural support; 
(iii) support local agricultural proc-
essing or distribution infrastructure; 
(iv) support workforce training pro-
grams for technical training, skill mastery, 
or business opportunities across the spec-
trum of careers in renewable energy, with 
emphasis on historically underrepresented 
communities in the renewable energy work-
force; or 
(v) address public health by increasing 
outdoor recreation opportunities, including 
construction of new parks, for people of all 
backgrounds and abilities; or 
(B) other, similar services, projects, or pro-
grams. 
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(2) 
CONSERVATION, 
STEWARDSHIP, 
AND 
RECREATION.—A host community shall use at least 
20 percent of the amounts received by that host 
community from a payment under this section for 
conservation, stewardship, or recreation purposes, 
including— 
(A) restoring or protecting— 
(i) fish or wildlife habitat; 
(ii) fish or wildlife corridors; or 
(iii) wetlands, streams, rivers, or other 
natural water bodies in areas affected by 
transmission development; 
(B) preserving or improving recreational 
access to public land or water through an ease-
ment, right-of-way, or other instrument from 
willing landowners for the purpose of enhancing 
public access to existing Federal land or water 
that is inaccessible or restricted; 
(C) developing new or renovating existing 
outdoor recreation facilities that provide out-
door recreation opportunities to the public; 
(D) creating or significantly enhancing ac-
cess to park or recreational opportunities in a 
neighborhood or community; 
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(E) engaging or empowering underserved 
communities or youth; 
(F) facilitating public-private partnerships 
to enhance public outdoor recreational access, 
infrastructure improvements, or conservation 
efforts; 
(G) for natural climate solutions, including 
programs that— 
(i) accommodate biochar or other na-
ture-based opportunities for carbon seques-
tration; 
(ii) support wildfire resilience to en-
sure healthy and resilient forests or grass-
lands; 
(iii) promote the planting, growing, or 
restoring of trees or forests; 
(iv) support resilience against natural 
disasters to ensure healthy and resilient 
communities; 
(v) empower farmers in the United 
States to incorporate conservation or cli-
mate co-benefits in their agricultural prac-
tices; or 
(vi) support or implement traditional 
ecological knowledge; or 
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(H) other, similar services, projects, or 
programs. 
(f) REPORTS.— 
(1) COVERAGE.—Not later than 90 days after 
the date of enactment of this Act, the Secretary 
shall submit to the Committee on Energy and Nat-
ural Resources of the Senate and the Committee on 
Energy and Commerce of the House of Representa-
tives a report detailing the loan programs within the 
Department of Energy that fund electric power 
transmission lines and related infrastructure that 
are capable of transmitting 999 megawatts or more. 
(2) ANNUAL REPORT.— 
(A) IN GENERAL.—Not later than 60 days 
after the end of each fiscal year, the Secretary 
shall submit to the Committee on Energy and 
Natural Resources of the Senate and the Com-
mittee on Energy and Commerce of the House 
of Representatives a report on the operation of 
the Fund during that fiscal year. 
(B) REPORT
REQUIREMENTS.—Each re-
port submitted under subparagraph (A) shall 
include— 
(i) a statement of— 
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(I) the amounts deposited in the 
Fund during the applicable fiscal 
year; and 
(II) the balance remaining in the 
Fund at the end of that fiscal year; 
and 
(ii) a list of— 
(I) host communities that re-
ceived amounts made available from 
the Fund during that fiscal year; 
(II) 
the 
associated 
eligible 
projects carried out in those host com-
munities; and 
(III) the amount that each of 
those host communities received. 
(g) SAVINGS PROVISION.—Nothing in this section, in-
cluding the receipt of amounts made available from the 
Fund— 
(1) precludes a host community from entering 
into a community benefit agreement with an owner 
of transmission infrastructure; or 
(2) otherwise affects the authority of a host 
community or an owner of transmission infrastruc-
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ture with respect to any community benefit agree-
ment. 
Æ 
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