42 U.S.C. § 16517

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

Section 16517 - Energy infrastructure reinvestment financing

(a) In general

Notwithstanding section 16513 of this title, the Secretary may make guarantees, including refinancing, under this section only for projects that-

(1) retool, repower, repurpose, or replace energy infrastructure that has ceased operations; or

(2) enable operating energy infrastructure to avoid, reduce, utilize, or sequester air pollutants or anthropogenic emissions of greenhouse gases.

(b) Inclusion

A project under subsection (a) may include the remediation of environmental damage associated with energy infrastructure.

(c) Requirement

A project under subsection (a)(1) that involves electricity generation through the use of fossil fuels shall be required to have controls or technologies to avoid, reduce, utilize, or sequester air pollutants and anthropogenic emissions of greenhouse gases.

(d) Application

To apply for a guarantee under this section, an applicant shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require, including-

(1) a detailed plan describing the proposed project;

(2) an analysis of how the proposed project will engage with and affect associated communities; and

(3) in the case of an applicant that is an electric utility, an assurance that the electric utility shall pass on any financial benefit from the guarantee made under this section to the customers of, or associated communities served by, the electric utility.

(e) Term

Notwithstanding section 16512(f) of this title, the term of an obligation shall require full repayment over a period not to exceed 30 years.

(f) Definition of energy infrastructure

In this section, the term "energy infrastructure" means a facility, and associated equipment, used for-

(1) the generation or transmission of electric energy; or

(2) the production, processing, and delivery of fossil fuels, fuels derived from petroleum, or petrochemical feedstocks.

42 U.S.C. § 16517

Pub. L. 109-58, title XVII, §1706, as added Pub. L. 117-169, title V, §50144(c), Aug. 16, 2022, 136 Stat. 2045.

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.