Reenergize America Loan Program

(a)

Definitions

In this section: (1)

Fund

The term Fund means the Reenergize America Loan Program Fund established by subsection (g). (2)

Indian tribe

The term Indian tribe has the meaning given the term in section 4 of the Indian Self-Determination and Education Assistance Act (25 U.S.C. 450b). (3)

Program

The term Program means the Green America Loan Program established by subsection (b). (4)

Qualified person

The term qualified person means an individual or entity that is determined to be capable of meeting all terms and conditions of a loan provided under this section based on the criteria and procedures approved by the Secretary in a plan submitted under subsection (d). (5)

Secretary

The term Secretary means the Secretary of Energy. (6)

State

The term State means— (A)a State; (B)the District of Columbia; (C)the Commonwealth of Puerto Rico; (D)any other territory or possession of the United States; and (E)an Indian tribe. (b)

Establishment

There is established within the Department of Energy a revolving loan program to be known as the Reenergize America Loan Program. (c)

Allocations to States

(1)

In general

In carrying out the Program, the Secretary shall allocate funds to States for use in providing zero-interest loans to qualified persons to carry out residential, commercial, industrial, and transportation energy efficiency and renewable generation projects contained in State energy conservation plans submitted and approved under sections 362 and 363 of the Energy Policy and Conservation Act (42 U.S.C. 6322, 6323), respectively. (2)

Administrative expenses

A State that receives an allocation of funds under this subsection may impose on each qualified person that receives a loan from the allocated funds of the State administrative fees to cover the costs incurred by the State in administering the loan. (3)

Repayment and return of principal

Return of principal from loans provided by a State may be retained by the State for the purpose of making additional loans pursuant to— (A)a plan approved by the Secretary under subsection (d); and (B)such terms and conditions as the Secretary considers appropriate to ensure the financial integrity of the Program. (d)

Application

A State that seeks to receive an allocation under this section shall— (1)submit to the Secretary for review and approval a 5-year plan for the administration and distribution by the State of funds from the allocation, including a description of criteria that the State will use to determine the qualifications of potential borrowers for loans made from the allocated funds; (2)agree to submit to annual audits with respect to any allocated funds received and distributed by the State; and (3)reapply for a subsequent allocation at the end of the 5-year period covered by the plan. (e)

Allocation

In approving plans submitted by the States under subsection (d) and allocating funds among States under this section, the Secretary shall consider— (1)the likely energy savings and renewable energy potential of the plans; (2)regional energy needs; and (3)the equitable distribution of funds among regions of the United States. (f)

Maximum amount; term

A loan provided by a State using funds allocated under this section shall be— (1)in an amount not to exceed $5,000,000; and (2)for a term of not to exceed 4 years. (g)

Reenergize America Loan Program Fund

(1)

Establishment

There is established in the Treasury of the United States a revolving fund, to be known as the Reenergize America Loan Program Fund, consisting of such amounts as are transferred to the Fund under paragraph (2). (2)

Transfers to Fund

From any Federal royalties, rents, and bonuses derived from Federal onshore and offshore oil, gas, coal, or alternative energy leases issued under the Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.) or the Mineral Leasing Act (30 U.S.C. 181 et seq.) that are deposited in the Treasury, and after distribution of any funds described in paragraph (3), there shall be transferred to the Fund $1,000,000,000 for each of fiscal years 2010 through 2020. (3)

Prior distributions

The distributions referred to in paragraph (2) are those required by law— (A)to States and to the Reclamation Fund under the Mineral Leasing Act (30 U.S.C. 191(a)); and (B)to other funds receiving amounts from Federal oil and gas leasing programs, including— (i)any recipients pursuant to section 8(g) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(g)); (ii)the Land and Water Conservation Fund, pursuant to section 2(c) of the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 460l–5(c)); (iii)the Historic Preservation Fund, pursuant to section 108 of the National Historic Preservation Act (16 U.S.C. 470h); and (iv)the coastal impact assistance program established under section 31 of the Outer Continental Shelf Lands Act (43 U.S.C. 1356a). (4)

Expenditures from Fund

(A)

In general

Subject to subparagraph (B), on request by the Secretary, the Secretary of the Treasury shall transfer from the Fund to the Secretary such amounts as the Secretary determines to be necessary to provide allocations to States under subsection (c). (B)

Administrative expenses

An amount not exceeding 5 percent of the amounts in the Fund shall be available for each fiscal year to pay the administrative expenses necessary to carry out this subsection. (5)

Transfers of amounts

(A)

In general

The amounts required to be transferred to the Fund under this subsection shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury. (B)

Adjustments

Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred. (h)

Funding

Notwithstanding any other provision of law, for each of fiscal years 2010 through 2020, the Secretary shall use to carry out the Program such amounts as are available in the Fund.