22 U.S.C. § 7909 — Authorization for the Clean Technology Fund

submitted 17 years ago by Pub. L. 111-117 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 503 words · no verdicts yet

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For 2010, Congress authorized up to $300 million for the U.S. to contribute to the international Clean Technology Fund. The Treasury Secretary must make sure no single country gets more than 15 percent of the Fund, and that recipient countries put up their own matching public money and submit real emissions-reduction plans.

(1) Limitations on authorization of appropriations: For fiscal year 2010, Congress authorized appropriating up to $300,000,000 as a U.S. contribution to the Clean Technology Fund. (2) Limits on country access: The Secretary of the Treasury must use the United States' voice and vote to make sure: (A) no single country gets more than 15 percent of the Fund's resources; (B) before any money is committed, a recipient country submits an investment plan to the Fund's governing body — one that will achieve real, significant cuts in that country's total greenhouse gas emissions — and the governing body properly reviews and considers that plan; (C) if a recipient country's World Bank borrowing status is "IDA blend," its investment plan must get at least 15 percent of its public-sector costs from that country's own public money; if its status is "IBRD only," that share must be at least 25 percent; and (D) the Fund's assistance is used only to help deploy clean energy technologies in developing countries — including, where it makes sense, technical support or help reforming policy or institutions — in a way that achieves substantial, real cuts in greenhouse gas emissions. (3) Repealed. (4) Definitions: (A) "Net reductions" means how much lower a project's or program's greenhouse gas emissions are compared to what the same entity or sector in the same country would have emitted without the Fund's project — counting effects beyond the project's physical location when that's practical to do. (B) "Public sector activities" can include sovereign loans a recipient country takes on to help pay for its investment plan. (C) "Clean energy technology" means a technology that, compared to what's already in widespread commercial use in that country, (i) achieves substantial cuts in greenhouse gas emissions, (ii) doesn't cause significant added harm to public health or the environment, and (iii) does at least one of: (I) generates electricity or useful heat from a renewable resource; (II) substantially improves energy efficiency in buildings, industrial or farm processes, or electricity transmission, distribution, or use; or (III) substantially improves energy efficiency in transportation, or increases use of transportation fuels whose full lifecycle greenhouse gas emissions are substantially lower than fossil fuels.

the actual law source: uscode.house.gov ↗public domain

(1) Limitations on authorization of appropriations

For fiscal year 2010, up to $300,000,000 is authorized to be appropriated for a United States contribution to the Clean Technology Fund (the Fund).

(2) Limits on country access

The Secretary of the Treasury shall use the voice and vote of the United States to ensure that—

(A)

The Fund does not provide more than 15 percent of Fund resources to any one country;

(B)

Prior to the obligation of funds, recipient countries submit to the governing body of the Fund, and the governing body of the Fund appropriately reviews and considers, an investment plan that will achieve significant net reductions in national-level greenhouse gas emissions;

(C)

The investment plan for a recipient country, whose borrowing status is classified by the World Bank as “International Development Association (IDA) blend”, shall have at least 15 percent of its total cost for public sector activities contributed from the public funds of the recipient country, and any recipient country whose borrowing status is classified by the World Bank as “International Bank for Reconstruction and Development (IBRD) Only” status, shall have at least 25 percent of its total cost for public sector activities contributed from public funds of the recipient country; and

(D)

Assistance made available by the Fund is used exclusively to support the deployment of clean energy technologies in developing countries (including, where appropriate, through the provision of technical support or support for policy or institutional reforms) in a manner that achieves substantial net reductions in greenhouse gas emissions.

(3) Repealed. Pub. L. 113–76, div. K, title VII, § 7034(i), Jan. 17, 2014, 128 Stat. 514

(4) Definitions

For purposes of this section—

(A) Net reductions

The term “net reductions” refers to the extent to which a project or program supported under this section results in lower greenhouse gas emissions than would be emitted by the same entity or sector in the same country in the absence of the Fund’s project, taking into account, unless impracticable, effects beyond the physical boundaries of the project or program that result from project or program activities.

(B) Public sector activities

The term “public sector activities” may include sovereign loans assumed by the recipient country to contribute to the financing of the investment plan.

The term “clean energy technology” means a technology that, as compared with technologies being deployed at that time for widespread commercial use in the country involved—

(i)

achieves substantial reductions in greenhouse gas emissions;

(ii)

does not result in significant incremental adverse effects on public health or the environment; and

(iii)

does one or more of the following:

(I)

generates electricity or useful thermal energy from a renewable resource;

(II)

substantially increases the energy efficiency of buildings, industrial, or agricultural processes, or of electricity transmission, distribution, or end-use consumption; or

(III)

substantially increases the energy efficiency of the transportation system or increases utilization of transportation fuels that have lifecycle greenhouse gas emissions that are substantially lower than those attributable to fossil fuel-based alternatives.

Source credit: (Pub. L. 111–117, div. F, title VII, § 7081(g), Dec. 16, 2009, 123 Stat. 3398; Pub. L. 113–76, div. K, title VII, § 7034(i), Jan. 17, 2014, 128 Stat. 514.)

history & why it existsrecord from the source credit

2009Enacted · Pub. L. 111-117 · 123 Stat. 3398
2014Amended · Pub. L. 113-76 · 128 Stat. 514

A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-117 on 2009-12-16.

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