[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3836 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 3836

   To authorize the Secretary of Energy to provide credit support to 
    enhance the availability of private financing for clean energy 
                         technology deployment.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 15, 2009

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

_______________________________________________________________________

                                 A BILL


 
   To authorize the Secretary of Energy to provide credit support to 
    enhance the availability of private financing for clean energy 
                         technology deployment.

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

SECTION 1. INDIRECT SUPPORT.

    (a) In General.--For the purpose of enhancing the availability of 
private financing for clean energy technology deployment, the Secretary 
of Energy may--
            (1) provide credit support to portfolios of taxable debt 
        obligations originated by State, local, and private sector 
        entities that enable owners and users of buildings and 
        industrial facilities to--
                    (A) significantly increase the energy efficiency of 
                such buildings or facilities; or
                    (B) install systems that individually generate 
                electricity from renewable energy resources and have a 
                capacity of no more than 2 megawatts;
            (2) facilitate financing transactions in tax equity markets 
        and long-term purchasing of clean energy by State, local, and 
        nongovernmental not-for-profit entities, to the degree and 
        extent that the Secretary of Energy determines such financing 
        activity is appropriate and consistent with carrying out the 
        purpose described in subsection (b); and
            (3) provide credit support to portfolios of taxable debt 
        obligations originated by State, local, and private sector 
        entities that enable the deployment of energy storage 
        applications for electric drive vehicles, stationary 
        applications, and electricity transmission and distribution.
    (b) Purpose.--The purpose of this program is to promote access to 
affordable financing for accelerated and widespread deployment of--
            (1) clean energy technologies;
            (2) advanced or enabling energy infrastructure 
        technologies; and
            (3) energy efficiency technologies in residential, 
        commercial, and industrial applications, including end-use 
        efficiency in buildings.
    (c) Definitions.--For purposes of the section:
            (1) Clean energy technology.--The term ``clean energy 
        technology'' means a technology related to the production, use, 
        transmission, storage, control, or conservation of energy--
                    (A) that will contribute to a stabilization of 
                atmospheric greenhouse gas concentrations thorough 
                reduction, avoidance, or sequestration of energy-
                related emissions and--
                            (i) reduce the need for additional energy 
                        supplies by using existing energy supplies with 
                        greater efficiency or by transmitting, 
                        distributing, or transporting energy with 
                        greater effectiveness through the 
                        infrastructure of the United States; or
                            (ii) diversify the sources of energy supply 
                        of the United States to strengthen energy 
                        security and to increase supplies with a 
                        favorable balance of environmental effects if 
                        the entire technology system is considered; and
                    (B) for which, as determined by the Administrator, 
                insufficient commercial lending is available at 
                affordable rates to allow for widespread deployment.
            (2) Credit support.--The term ``credit support'' means--
                    (A) direct loans, letters of credit, loan 
                guarantees, and insurance products; and
                    (B) the purchase or commitment to purchase, or the 
                sale or commitment to sell, debt instruments (including 
                subordinated securities).
            (3) Direct loan.--The term ``direct loan'' has the meaning 
        given the term in section 502 of the Federal Credit Reform Act 
        of 1990 (2 U.S.C. 661a).
            (4) Loan guarantee.--The term ``loan guarantee'' has the 
        meaning given the term in section 502 of the Federal Credit 
        Reform Act of 1990 (2 U.S.C. 661a).
            (5) Renewable energy resource.--The term ``renewable energy 
        resource'' means each of the following:
                    (A) Wind energy.
                    (B) Solar energy.
                    (C) Geothermal energy.
                    (D) Renewable biomass.
                    (E) Biogas derived exclusively from renewable 
                biomass.
                    (F) Biofuels derived exclusively from renewable 
                biomass.
                    (G) Hydropower.
                    (H) Marine and hydrokinetic renewable energy, as 
                that term is defined in section 632 of the Energy 
                Independence and Security Act of 2007 (42 U.S.C. 
                17211).
    (d) Transparency.--The Secretary of Energy shall seek to foster 
through its credit support activities--
            (1) the development and consistent application of standard 
        contractual terms, transparent underwriting standards and 
        consistent measurement and verification protocols, as 
        applicable; and
            (2) the creation of performance data that promotes 
        effective underwriting and risk management to support lending 
        markets and stimulate the development of private investment 
        markets.
    (e) Exempt Securities.--All securities insured or guaranteed by the 
Secretary of Energy shall, to the same extent as securities that are 
direct obligations of or obligations guaranteed as to the principal or 
interest by the United States, be considered to be exempt securities 
within the meaning of the laws administered by the Securities and 
Exchange Commission.
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