7 U.S.C. § 940g

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 940g - Electric loans for renewable energy

(a) Definition of renewable energy source

In this section, the term "renewable energy source" means an energy conversion system fueled from a solar, wind, hydropower, biomass, or geothermal source of energy.

(b) Loans

In addition to any other funds or authorities otherwise made available under this chapter, the Secretary may make electric loans under this subchapter for electric generation from renewable energy resources for resale to rural and nonrural residents.

(c) Rate

The rate of a loan under this section shall be equal to the average tax-exempt municipal bond rate of similar maturities.

7 U.S.C. § 940g

May 20, 1936, ch. 432, title III, §317, as added Pub. L. 110-234, title VI, §61086108,, 122 Stat. 1198, and Pub. L. 110-246, §4(a), title VI, §6108, June 18, 2008, 122 Stat. 1664, 1959.

EDITORIAL NOTES

CODIFICATION Pub. L. 110-234 and Pub. L. 110-246 enacted identical sections. Pub. L. 110-234 was repealed by section 4(a) of Pub. L. 110-246.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATEEnactment of this section and repeal of Pub. L. 110-234 by Pub. L. 110-246 effective May 22, 2008, the date of enactment of Pub. L. 110-234 see section 4 of Pub. L. 110-246 set out as a note under section 8701 of this title.

Secretary

The term "Secretary" means the Secretary of Agriculture.