LOAN Act

Bill: 118-hr-4677
Sponsor: full_name: Rep. Donalds, Byron [R-FL-19]
Introduced: 2023-07-17
Policy area: Energy
Subjects: Electric power generation and transmission

Government lending and loan guarantees

Infrastructure development

Nuclear power
Latest action: action_date: 2023-07-21
text: Referred to the Subcommittee on Energy, Climate and Grid Security.

Summaries:

tv_txt: I 118th CONGRESS 1st Session H. R. 4677 IN THE HOUSE OF REPRESENTATIVES July 17, 2023 Mr. Donalds introduced the following bill; which was referred to the Committee on Energy and Commerce , and in addition to the Committee on Science, Space, and Technology , 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 provide additional Federal flexibility to enhance the development and deployment of advanced nuclear reactor technology, and for other purposes.

1. Short title This Act may be cited as the Leverage Obligated appropriations for Advanced Nuclear Act or the LOAN Act . 2. Temporary exception to the denial of double benefit for certain loan guarantees related to the Advanced Reactor Demonstration Program (a) Funding for department of energy loan programs office Section 50141(d)(3) of the Public Law 117–169 is amended— (1) in subparagraph (C), by striking the or at the end; (2) in subparagraph (D), by striking guarantee. and inserting guarantee; or ; and (3) by adding at the end the following: (E) during the period of 15 years that begins on the date of enactment of the LOAN Act , demonstration projects carried out under the program established under section 959A(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16279a(b) ). . (b) Omnibus Appropriations Act, 2009 The 9th proviso in the matter under the heading Department of Energy, Title 17 Innovative Technology Loan Guarantee Authority Loan Program , in title III of division C of Public Law 111–8 , is amended— (1) by striking or (d) for electric generation projects and inserting (d) for electric generation projects ; and (2) by inserting ; or (e) during the period of 15 years that begins on the date of enactment of the LOAN Act , demonstration projects carried out under the program established under section 959A(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16279a(b) ) after independent of the project receiving the guarantee . (c) Department of Defense and Full-Year Continuing Appropriations Act, 2011 Section 1425 of the Department of Defense and Full-Year Continuing Appropriations Act, 2011 is amended— (1) by striking or (4) electric generation projects and inserting (4) electric generation projects ; and (2) by inserting ; or (5) during the period of 15 years that begins on the date of enactment of the LOAN Act , demonstration projects carried out under the program established under section 959A(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16279a(b) ) after independent of the project receiving the guarantee . 3. Eligibility of advanced reactor demonstration projects for certain loan guarantees (a) Incentives for innovative technologies Section 1703(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16513(b) ) is amended by adding at the end the following: (14) During the period of 15 years that begins on the date of enactment of the LOAN Act, demonstration projects carried out under the program established under section 959A(b). . (b) Energy infrastructure reinvestment financing Section 1706(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16517(b) ) is amended by inserting and, during the period of 15 years that begins on the date of enactment of the LOAN Act , a demonstration project carried out under the program established under section 959A(b) after energy infrastructure .