[Congressional Record Volume 148, Number 47 (Wednesday, April 24, 2002)]
[Senate]
[Page S3320]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   REPRINT OF AMENDMENT NO. 3325 SUBMITTED ON TUESDAY, APRIL 23, 2002

  SA 3325. Mr. SHELBY (for himself, Mr. Akaka, Mr. Schumer,  and Mrs. 
Clinton) submitted an amendment intended to be proposed to amendment SA 
2917 proposed by Mr. Daschle (for himself and Mr. Bingaman) to the bill 
(S. 517) to authorize funding the Department of Energy to enhance its 
mission areas through technology transfer and partnerships for fiscal 
years 2002 through 2006, and for other purposes; which was ordered to 
lie on the table; as follows:

       On page 205, between lines 8 and 9, insert the following:
       (____) Establishment of a Program for the Production of 
     Fuel Ethanol From Municipal Solid Waste.--
       (1) Definition of municipal solid waste.--In this section, 
     the term ``municipal solid waste'' has the meaning given the 
     term ``solid waste'' in section 1004 of the Solid Waste 
     Disposal Act (42 U.S.C. 6903).
       (2) Establishment of program.--The Secretary of Energy 
     shall establish a program that promotes expedited 
     construction of facilities for the processing and conversion 
     of municipal solid waste into fuel ethanol to supplement 
     fossil fuels.
       (3) Authorization of appropriations.--There are authorized 
     to be appropriated such sums as are necessary to carry out 
     programs that promote expedited construction of commercially 
     viable facilities for the processing and conversion of 
     municipal solid waste to fuel ethanol to supplement fossil 
     fuels including, but not limited to, loan guarantees to 
     private institutions.
       (4) Requirements.--The Secretary may provide a loan 
     guarantee under paragraph (2) to an applicant if--
       (A) without a loan guarantee, credit is not available to 
     the applicant under reasonable terms or conditions sufficient 
     to finance the construction of a facility described in 
     paragraph (2);
       (B) the prospective earning power of the applicant and the 
     character and value of the security pledged provide a 
     reasonable assurance of repayment of the loan to be 
     guaranteed in accordance with the terms of the loan; and
       (C) the loan bears interest at a rate determined by the 
     Secretary to be reasonable, taking into account the current 
     average yield on outstanding obligations of the United States 
     with remaining periods of maturity comparable to the maturity 
     of the loan.
       (5) Criteria.--In selecting recipients of loan guarantees 
     from among applicants, the Secretary shall give preference to 
     proposals that--
       (A) meet all applicable Federal and State permitting 
     requirements;
       (B) are most likely to be successful; and
       (C) are located in local markets that have the greatest 
     need for the facility because of--
       (i) the limited availability of land for waste disposal; or
       (ii) a high level of demand for fuel ethanol or other 
     commercial byproducts of the facility.
       (6) Maturity.--A loan guaranteed under paragraph (2) shall 
     have a maturity of not more than 20 years.
       (7) Terms and conditions.--The loan agreement for a loan 
     guaranteed under paragraph (2) shall provide that no 
     provision of the loan agreement may be amended or waived 
     without the consent of the Secretary.
       (8) Assurance of repayment.--The Secretary shall require 
     that an applicant for a loan guarantee under paragraph (2) 
     provide an assurance of repayment in the form of a 
     performance bond, insurance, collateral, or other means 
     acceptable to the Secretary in an amount equal to not less 
     than 20 percent of the amount of the loan.
       (9) Guarantee fee.--The recipient of a loan guarantee under 
     paragraph (2) shall pay the Secretary an amount determined by 
     the Secretary to be sufficient to cover the administrative 
     costs of the Secretary relating to the loan guarantee.
       (10) Full faith and credit.--The full faith and credit of 
     the United States is pledged to the payment of all guarantees 
     made under this section. Any such guarantee made by the 
     Secretary shall be conclusive evidence of the eligibility of 
     the loan for the guarantee with respect to principal and 
     interest. The validity of the guarantee shall be 
     incontestable in the hands of a holder of the guaranteed 
     loan.
       (11) Reports.--Until each guaranteed loan under this 
     section has been repaid in full, the Secretary shall annually 
     submit to Congress an report on the activities of the 
     Secretary under this section.
       (12) Termination of Authority.--The authority of the 
     Secretary to issue a loan guarantee under paragraph (2) 
     terminates on the date that is 10 years after the date of 
     enactment of this Act.

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