[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2544 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 2544

To direct the Secretary of Transportation to offer federally financed, 
   interest-free loans to public schools, municipalities, and local 
     governments for the purchase of hybrid electric or other high-
              efficiency vehicles, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 18, 2001

  Mr. Gilman introduced the following bill; which was referred to the 
                    Committee on Energy and Commerce

_______________________________________________________________________

                                 A BILL


 
To direct the Secretary of Transportation to offer federally financed, 
   interest-free loans to public schools, municipalities, and local 
     governments for the purchase of hybrid electric or other high-
              efficiency vehicles, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LOANS FOR HIGH-EFFICIENCY VEHICLES.

    (a) Loan Program Authorized.--Subject to the availability of 
appropriations, the Secretary of Transportation shall establish a 
program to offer federally financed, interest-free loans to local 
educational agencies, public institutions of higher education, 
municipalities, and local governments for the purchase of hybrid 
electric vehicles or high-efficiency vehicles.
    (b) Repayment Term.--The time for repayment of a loan under this 
section may not exceed five years.
    (c) Security Interest.--The Secretary shall require, as a condition 
of a loan under this section, that the borrower grant to the United 
States a security interest in any vehicle purchased with the proceeds 
of such loan.
    (d) Definitions.--In this section:
            (1) The term ``high-efficiency vehicle'' means a motor 
        vehicle that uses a fuel other than gasoline or diesel fuel.
            (2) The term ``hybrid electric vehicle'' means a motor 
        vehicle with a fuel-efficient gasoline engine assisted by an 
        electric motor.
            (3) The term ``motor vehicle'' has the meaning given that 
        term in section 30102(a)(6) of title 49, United States Code.
            (4) The term ``local educational agency'' has the meaning 
        given that term in the Elementary and Secondary Education Act 
        of 1965 (20 U.S.C. 6301 et seq.).
            (5) The term ``public institution of higher education'' has 
        the meaning given the term ``institution of higher education'' 
        in section 101(a) of the Higher Education Act of 1965 (20 
        U.S.C. 1001(a)), but does not include private institutions 
        described in that section.
    (e) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out this section $50,000,000 for each of fiscal 
years 2002 through 2007 and such sums as may be necessary for each 
fiscal year thereafter.
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