[Federal Register Volume 87, Number 208 (Friday, October 28, 2022)]
[Notices]
[Pages 65188-65190]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23519]


-----------------------------------------------------------------------

DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service

Rural Utilities Service

[Docket Number: RBS-22-NONE-0025]


Inflation Reduction Act Listening Session

AGENCY: Rural Business--Cooperative Service and Rural Utilities 
Service, USDA.

ACTION: Request for information and notice of public listening 
sessions.

-----------------------------------------------------------------------

SUMMARY: The Rural Business-Cooperative Service (RBCS) and the Rural 
Utilities Service (RUS), agencies of the Rural Development (RD) mission 
areas of the United State Department of Agriculture, announce that they 
are hosting listening sessions for public input regarding 
implementation of the Inflation Reduction Act (IRA) of 2022. 
Specifically, these listening sessions will provide an opportunity for 
stakeholders and other interested parties to offer their comments and 
input.

DATES: Written Comments: Interested parties must submit written 
comments on or before November 28, 2022. All written comments received 
will be publicly available on www.regulations.gov.
    Listening Sessions: Two virtual listening session will be held from 
2-4 p.m. ET on Thursday November 3, 2022, and 2-4 p.m. ET Friday, 
November 4, 2022.
    November 3, 2022--This listening session will focus on Sections 
22001, 22002, and 22003. The session is aimed at rural communities, 
rural small businesses, and agricultural producers including renewable 
energy generation providers, distribution utilities, transportation 
fueling facilities, fuel distribution facilities, environmental, 
community and consumer groups, industry associations, and Federal, 
state, and local government and agencies. To participate interested 
parties must register at https://www.zoomgov.com/webinar/register/WN_l_ptMftKRU2zlJPMdiXF9A.
    November 4, 2022--This listening session will focus on Sections 
22004. This listening session will be targeted at rural electric 
cooperatives and related stakeholders as described above. To 
participate interested parties must

[[Page 65189]]

register at https://www.zoomgov.com/webinar/register/WN_HeGqpB7YTYOG6tmBjDyx7g.
    Listening Sessions will be recorded and made publicly available. If 
you require special accommodations, such as a sign language 
interpreter, use the contact information above. The listening session 
locations are accessible to persons with disabilities.

ADDRESSES: Comments may be submitted electronically by the Federal 
eRulemaking Portal: Go to http://www.regulations.gov and in the 
``Search for Rules, Proposed Rules, Notices or Supporting Documents'' 
box, enter the following docket number: (RBS-22-NONE-0025). To submit 
or view public comments, click ``Search'' button, select the 
``Documents'' tab, then select the following document title: (Inflation 
Reduction Act Listening Session) from the ``Search Results'' and select 
the ``Comment'' button. Before submitting your comments, you may also 
review the ``Commenter's Checklist'' (optional). Insert your comments 
under the ``Comment'' title, click ``Browse'' to attach files (if 
available). Input your email address and select ``Submit Comment.'' 
Information on using Regulations.gov, including instructions for 
accessing documents, submitting comments, and viewing the docket after 
the close of the comment period, is available through the site's 
``FAQ'' link. Other Information: Additional information about Rural 
Development and its programs is available on the internet at https://www.rd.usda.gov. All comments will be available for public inspection 
online at the Federal eRulemaking Portal (https://www.regulations.gov).

FOR FURTHER INFORMATION CONTACT: Jacki Lazaruk-Ponti, Rural Development 
Chief Innovation Officer at 202-692-0036. Persons with disabilities who 
require alternative means for communication (Braille, large print, 
audio tape, etc.) should contact the USDA Target Center at (202) 720-
2600 (voice and TDD).

SUPPLEMENTARY INFORMATION:
    Background: Rural Development is an advocate for rural America, 
administering a multitude of programs, ranging from housing and 
community facilities to infrastructure and business development. The 
Agency's mission is to increase economic opportunity and improve the 
quality of life in rural communities by providing the leadership, 
infrastructure, capital, and technical support that enables rural 
communities to prosper. To achieve its mission, the Agency provides 
financial support, including loan guarantees, direct loans and grants, 
and technical assistance to enhance the quality of life and provide the 
foundation for economic development in rural areas.
    The RBCS and RUS received significant funding through the Inflation 
Reduction Act (IRA) of 2022, Public Law Number 117-169. It is 
anticipated that this funding will support the long-term resilience, 
reliability, and affordability of rural electric systems by providing 
financial assistance to purchase renewable energy, other zero-emission 
systems, and energy efficiency improvements that will achieve the 
greatest reduction in greenhouse gas emissions associated with the 
rural electric system. Additionally, with funding received in the IRA, 
Rural Development will support renewable energy and energy efficiency 
projects for farms and small businesses through the Rural Energy for 
America Program and invest in fueling and distribution infrastructure 
to increase demand for higher blends of biofuels.
    Section 22001 of the IRA provides $1 billion in budget authority 
for loans for renewable energy infrastructure and requires the agency 
to forgive up to 50 percent of the loan amount if the loan terms and 
conditions are complied with. In addition, the Secretary may allow 
forgiveness above 50 percent so long as additional criteria are met. 
Eligible entities include electric service providers, including 
municipals, cooperatives, investor-owned and Tribal utilities. Pursuant 
to IRA all projects must be for build-out of energy conservation 
systems fueled by solar, hydro, wind, geothermal and biomass, as 
required by section 317 of the Rural Electrification Act (7 U.S.C. 
940g), or for storage of such energy types. Priority will be given to 
new construction of renewable infrastructure.
    Section 22002 of the IRA provides $2.025 Billion for the Rural 
Energy for America Program (REAP) which includes a $303.8 million set 
aside for underutilized technologies and technical assistance. Both 
amounts will be administered under REAP as a single program, as any 
monies not used for underutilized technologies will revert to the 
general REAP fund the following fiscal year. The federal share can 
increase from 25 percent to 50 percent of total project cost.
    Section 22003 of the IRA provides $500 million in grants for 
infrastructure for blending, storing, supplying, or distributing 
biofuels. The program may provide a federal share at up to 75% of the 
total project cost.
    Section 22004 of the IRA provides $9.7 billion in budget authority 
for loans, grants, loan modifications and other financial assistance to 
support purchase of renewable energy, renewable energy systems, zero-
emissions, and carbon capture systems to deploy such systems or to make 
energy efficiency improvements to generation and transmission systems 
of eligible entities. Eligible entities include electric cooperatives, 
current and former RUS electric borrowers, or a cooperative that is 
serving a predominantly rural area (or a wholly or jointly owned 
subsidiary of such electric cooperative). Pursuant to the statute, no 
eligible entity may receive an amount equal to or more than 10% ($970 
million in budget authority) of the total amount made available by the 
subsection (cumulative across all three products). RUS may consider 
establishing lower funding limits under a Funding Opportunity 
Announcement.
    Rural Development is beginning the development of the funding tools 
that will be used to deliver this important funding and stakeholder 
feedback is vital in developing financial assistance products that will 
be integral to ensuring this funding reaches the intended customers. 
Rural Development will hold the listening sessions as outlined in the 
ADDRESSES section of this notice to receive oral comments from 
stakeholders and the public. The following questions and discussion 
items are provided as examples of topics stakeholders may wish to 
provide comment on. Rural Development welcomes pertinent comments that 
are beyond the scope of these questions. Rural Development is 
requesting comment and discussion on the following topics:

General Questions

    Question 1: IRA requires that funds be fully disbursed by 9/30/
2031, meaning construction and processing of all reimbursements must 
occur before then. Do you have a project(s) that could meet the 
statutory requirements of any of the RD IRA sections that could be 
completed within this time frame? When would be the soonest you would 
anticipate filing? When would financing need to be approved so 
project(s) could be completed within this time frame?
    Question 2: How do you recommend RUS/RBCS balance the interests of 
large and small applicants? What measures should be taken and 
stakeholders or partners should be engaged to ensure active 
participation in RD IRA funding in socially disadvantaged and 
distressed communities, particularly with projects that will have an 
Environmental Justice impact?
    Question 3: Projects funded under IRA are intended to increase 
energy

[[Page 65190]]

efficiency (decrease consumption of energy) and increase the deployment 
and use of renewable energy and/or clean energy. Knowing this 
requirement, what metric is most appropriate to measure progress toward 
meeting the goal of achieving greenhouse gas reductions and the 
expansion of renewable/clean energy infrastructure?

Section Specific

    Question 4: In particular, for Section 22004, what is the most 
effective way to measure comparative reductions in carbon dioxide, 
methane and nitrous oxide emissions?
    Question 5: Section 22001 of the IRA authorizes a new financing 
mechanism for the RUS Electric Program by providing partial loan 
forgiveness. The maximum amount allowed to be forgiven is 50 percent. 
Under the statute, the Secretary may authorize forgiveness above 50 
percent.
     Should loan forgiveness be a standard amount for all 
applicants or tiered based on certain criteria?
     What circumstances should justify the Secretary exceeding 
the 50% limitation under Sec. 22001?
    Question 6: As consumer owned entities, how can cooperatives ensure 
that savings resulting from this program contribute to Section 22004's 
statutory purpose of ``affordability?''
    Question 7: Section 22002 provides additional funding for REAP. A 
key difference under IRA is the ability for the Agency to provide up to 
50 percent of the cost of an activity carried out using grant funds. 
How should the Agency determine the level of grant for individual 
applications? Should there be a standard grant amount or a tiered 
approach? What criteria should drive a tiered approach?
    Question 8: Section 22002 provides additional funding for 
underutilized technology projects and technical assistance for the 
purposes of applying to the program. What strategies should RD use to 
engage and encourage applications under this section?

Listening Session

    Rural Development will hold the listening session on the dates 
listed in DATES section of this notice. Oral comments received from 
this listening session will be documented. All attendees of the 
listening sessions who submit oral comments may also are submit a 
written copy to help Rural Development accurately capture public input. 
In addition, stakeholders and the public who do not wish to attend or 
speak during the listing session are invited to submit written comments 
which must be received by the date indicated in the DATES section of 
this notice.
    At the listening session, the focus is for Rural Development to 
hear from the public; this is not a discussion with Rural Development 
officials or a question-and-answer session. As noted above, the purpose 
is to receive public input that Rural Development can factor into 
decisions it needs to make in order to implement the IRA.
    Each listening session will begin with brief opening remarks from 
USDA leadership in Rural Development. Individual speakers providing 
oral comments are requested to be succinct (the agency reserves the 
right to announce a time limitation at the beginning of each session 
based on attendance) as we do not know at this time how many 
participants there will be. As noted above, speakers providing oral 
comments may also provide a written copy of their comments. (See the 
ADDRESSES section above for information about submitting written 
comments.)
    Rural Development will be using the Zoom platform to host the 
virtual listening session.

Andrew Berke,
Administrator, Rural Utilities Service.
Karama Neal,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 2022-23519 Filed 10-27-22; 8:45 am]
BILLING CODE 3410-XY-P