42 U.S.C. § 16374

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 16374 - Future growth grants

(a) Establishment

The Secretary may provide grants to pay a portion of the cost differential, with respect to any projected future increase in demand for carbon dioxide transportation by an infrastructure project described in subsection (b), between-

(1) the cost of constructing the infrastructure asset with the capacity to transport an increased flow rate of carbon dioxide, as made practicable under the project; and

(2) the cost of constructing the infrastructure asset with the capacity to transport carbon dioxide at the flow rate initially required, based on commitments for the use of the asset.

(b) Eligibility

To be eligible to receive a grant under this section, an entity shall-

(1) be eligible to receive credit assistance under the CIFIA program;

(2) carry out, or propose to carry out, a project for large-capacity, common carrier infrastructure with a probable future increase in demand for carbon dioxide transportation; and

(3) submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be appropriate.

(c) Use of funds

A grant provided under this section may be used only to pay the costs of any additional flow rate capacity of a carbon dioxide transportation infrastructure asset that the project sponsor demonstrates to the satisfaction of the Secretary can reasonably be expected to be used during the 20-year period beginning on the date of substantial completion of the project described in subsection (b)(2).

(d) Maximum amount

The amount of a grant provided under this section may not exceed an amount equal to 80 percent of the cost of the additional capacity described in subsection (a).

42 U.S.C. § 16374

Pub. L. 109-58, title IX, §999D, as added Pub. L. 117-58, div. D, title III, §40304(a), Nov. 15, 2021, 135 Stat. 998.

EDITORIAL NOTES

PRIOR PROVISIONSA prior section 1 6374,Pub. L. 109-58, title IX, §999D6374,, 119 Stat. 922, related to the Ultra-Deepwater Advisory Committee and Unconventional Resources Technology Advisory Committee, prior to repeal by Pub. L. 113-67, div. A, title III, §301(a), Dec. 26, 2013, 127 Stat. 1181.

STATUTORY NOTES AND RELATED SUBSIDIARIES

WAGE RATE REQUIREMENTSFor provisions relating to rates of wages to be paid to laborers and mechanics on projects for construction, alteration, or repair work funded under div. D or an amendment by div. D of Pub. L. 117-58 including authority of Secretary of Labor, see section 18851 of this title.

Advisory Committee: The term "Advisory Committee" means the Green Building Advisory Committee established under section 484.1
Secretary: The term "Secretary" means the Secretary of Housing and Urban Development.1See References in Text note below.
project: The terms "federally assisted housing" and "project" mean-(A) a public housing project (as such term is defined in section 3(b) of the United States Housing Act of 1937 [42 U.S.C. 1437a(b)] );(B) housing for which project-based assistance is provided under section 8 of the United States Housing Act of 1937 [42 U.S.C. 1437f] ;(C) housing that is assisted under section 1701q of title 12;(D) housing that is assisted under section 1701q of title 12, as such section existed before November 28, 1990;(E) housing financed by a loan or mortgage insured under section 1715l(d)(3) of title 12 that bears interest at a rate determined under the proviso of section 1715l(d)(5) of title 12;(F) housing insured, assisted, or held by the Secretary or a State or State agency under section 1715z-1 of title 12;(G) housing constructed or substantially rehabilitated pursuant to assistance provided under section 8(b)(2) of the United States Housing Act of 1937 [42 U.S.C. 1437f(b)(2)], as in effect before October 1, 1983, that is assisted under a contract for assistance under such section; and(H) housing that is assisted under section 80131 of this title.