[Congressional Record Volume 156, Number 118 (Thursday, August 5, 2010)]
[Senate]
[Pages S6899-S6900]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. BINGAMAN (for himself, Mrs. Shaheen, Mrs. Boxer, and Mrs. 
        Feinstein):
  S. 3746. A bill to amend the Energy Policy Act of 2005 to improve the 
loan guarantee program of the Department of Energy under title XVII of 
that Act; to the Committee on Energy and Natural Resources.
  Mr. BINGAMAN. Mr. President, today I am introducing two bills, S. 
3746 and S. 3759, making improvements to the operation of the 
Department of Energy's loan guarantee program. The first makes a number 
of changes that will ease the administration of the program and allow 
for quicker processing of applications within the Department. In 
addition, the bill will add a fourth category to the subsidized loan 
guarantee program created and funded in the American Reinvestment and 
Recovery Act that would allow energy efficiency projects to gain access 
to the program. This bill is substantially similar to a provision that 
the House of Representatives passed last year as a portion of H.R. 2847 
but which did not receive consideration in the Senate.
  The second bill institutes a time limit on consideration by the 
Office of Management and Budget of loan guarantee applications 
submitted by the Secretary. If the Secretary submits a term sheet for 
conditional commitment to OMB for review and comment, then OMB has 30 
days to submit such comments. After 30 days the Secretary may issue a 
conditional commitment on the guarantee, taking into account any 
comments received from OMB, without further authorization from OMB. 
This provision would not affect the currently used OMB-approved subsidy 
cost model for loan guarantees or its application.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 3746

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

     SECTION 1. INCENTIVES FOR INNOVATIVE TECHNOLOGIES LOAN 
                   GUARANTEE PROGRAM.

       (a) Specific Appropriation or Contribution.--Section 1702 
     of the Energy Policy Act of 2005 (42 U.S.C. 16512) is 
     amended--
       (1) by striking subsection (b) and inserting the following:
       ``(b) Specific Appropriation or Contribution.--
       ``(1) In general.--No guarantee shall be made unless--
       ``(A) an appropriation for the cost of the guarantee has 
     been made;
       ``(B) the Secretary has received from the borrower a 
     payment in full for the cost of the guarantee and deposited 
     the payment into the Treasury; or
       ``(C) a combination of appropriations under subparagraph 
     (A) or payments from the borrower under subparagraph (B) has 
     been made that is sufficient to cover the cost of the 
     guarantee.
       ``(2) Limitation.--The source of payments received from a 
     borrower under subparagraph (B) or (C) of paragraph (1) shall 
     not be a loan or other debt obligation that is made or 
     guaranteed by the Federal Government.''; and
       (2) by adding at the end the following:
       ``(l) Credit Report.--If, in the opinion of the Secretary, 
     a third-party credit rating of the applicant or project is 
     not relevant to the determination of the credit risk of a 
     project, if the project costs are not projected to exceed 
     $100,000,000, and the applicant agrees to accept the credit 
     rating assigned to the applicant by the Secretary, the 
     Secretary may waive any otherwise applicable requirement 
     (including any requirement described in part 609 of title 10, 
     Code of Federal Regulations) to provide a third-party credit 
     report.
       ``(m) Direct Hire Authority.--
       ``(1) In general.--Notwithstanding sections 3304 and 
     sections 3309 through 3318 of title 5, United States Code, 
     the head of the loan guarantee program under this title 
     (referred to in this subsection as the `Executive Director') 
     may, on a determination that there is a severe shortage of 
     candidates or a severe hiring need for particular positions 
     to carry out the functions of this title, recruit and 
     directly appoint highly qualified critical personnel with 
     specialized knowledge important to the function of the 
     programs under this title into the competitive service.
       ``(2) Exception.--The authority granted under paragraph (1) 
     shall not apply to positions in the excepted service or the 
     Senior Executive Service.
       ``(3) Requirements.--In exercising the authority granted 
     under paragraph (1), the Executive Director shall ensure that 
     any action taken by the Executive Director--
       ``(A) is consistent with the merit principles of section 
     2301 of title 5, United States Code; and
       ``(B) complies with the public notice requirements of 
     section 3327 of title 5, United States Code.
       ``(4) Sunset.--The authority provided under paragraph (1) 
     shall terminate on September 30, 2011.
       ``(n) Professional Advisors.--The Secretary may--
       ``(1) retain agents and legal and other professional 
     advisors in connection with guarantees and related activities 
     authorized under this title;
       ``(2) require applicants for and recipients of loan 
     guarantees to pay all fees and expenses of the agents and 
     advisors; and
       ``(3) notwithstanding any other provision of law, select 
     such advisors in such manner and using such procedures as the 
     Secretary determines to be appropriate to protect the 
     interests of the United States and achieve the purposes of 
     this title.
       ``(o) Multiple Sites.--Notwithstanding any contrary 
     requirement (including any provision under part 609.12 of 
     title 10, Code of Federal Regulations) an eligible project 
     may be located on 2 or more non-contiguous sites in the 
     United States.''.
       (b) Applications for Multiple Eligible Projects.--Section 
     1705 of the Energy Policy Act of 2005 (42 U.S.C. 16516) is 
     amended--
       (1) by redesignating subsection (e) as subsection (f); and
       (2) by inserting after subsection (d) the following:
       ``(e) Multiple Applications.--Notwithstanding any contrary 
     requirement (including any provision under part 609.3(a) of 
     title 10, Code of Federal Regulations), a project applicant 
     or sponsor of an eligible project may submit an application 
     for more than 1 eligible project under this section.''.
       (c) Energy Efficiency Loan Guarantees.--Section 1705(a) of 
     the Energy Policy Act of 2005 (42 U.S.C. 16516(a)) is amended 
     by adding at the end the following:
       ``(4) Energy efficiency projects, including projects to 
     retrofit residential, commercial, and industrial buildings, 
     facilities, and equipment.''.
       (d) Fees; Professional Advisors.--Section 136 of the Energy 
     Independence and Security Act of 2007 (42 U.S.C. 17013) is 
     amended--
       (1) by striking subsection (f) and inserting the following:
       ``(f) Fees.--Except as otherwise permitted under subsection 
     (i), administrative costs shall be not more than $100,000 or 
     10 basis points of the loan.'';
       (2) by redesignating subsections (i) and (j) as subsections 
     (j) and (k), respectively; and
       (3) by inserting after subsection (h) the end the 
     following:
       ``(i) Professional Advisors.--The Secretary may--
       ``(1) retain agents and legal and other professional 
     advisors in connection with guarantees and related activities 
     authorized under this section;
       ``(2) require applicants for and recipients of loan 
     guarantees to pay directly, or through the payment of fees to 
     the Secretary, all fees and expenses of the agents and 
     advisors; and
       ``(3) notwithstanding any other provision of law, select 
     such advisors in such manner and using such procedures as the 
     Secretary determines to be appropriate to protect the

[[Page S6900]]

     interests of the United States and achieve the purposes of 
     this section.''.
                                 ______