42 U.S.C. § 16511 — Definitions
submitted 21 years ago by Pub. L. 109-58 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 317 words · no verdicts yet
This section defines key terms used in the loan-guarantee program: "commercial technology," "cost," "eligible project," "guarantee," "obligation," "State," and "State energy financing institution." A State energy financing institution is a state-created entity that helps finance or reduce financial barriers to eligible clean-energy projects.
(1) Commercial technology: (A) In general: "Commercial technology" means technology already in general use in the commercial marketplace. (B) Inclusions: This section states that "commercial technology" does not include a technology solely because the Department used it in a demonstration project* it funded.
(2) Cost: "Cost" has the meaning given to "cost of a loan guarantee" in section 661a(5)(C) of title 2.
(3) Eligible project: "Eligible project" means a project described in section 16513 of this title.
(4) Guarantee: (A) In general: "Guarantee" has the meaning given to "loan guarantee" in section 661a of title 2, except that here a loan guarantee may cover any debt owed by a non-federal borrower to any "Eligible Lender," as defined in section 609.2 of title 10 of the Code of Federal Regulations. (B) Inclusion: "Guarantee" also includes a "loan guarantee commitment," as defined in section 661a of title 2.
(5) Obligation: "Obligation" means the loan or other debt that is guaranteed under this section.
(6) State: "State" has the meaning given in section 6802 of this title.
(7) State energy financing institution: (A) In general: A "State energy financing institution" is a mostly independent entity, or an entity inside a state agency or financing authority, that a state sets up to: (i) provide financing support or credit help, including loan guarantees and loan-loss reserves, for eligible projects; and (ii) create liquid markets for eligible projects, including packaging and selling loans, or take other steps to reduce financial barriers to existing and new eligible projects. (B) Inclusion: This term also includes an entity an Indian Tribal entity or an Alaska Native Corporation establishes for those same purposes.
In this subchapter:
The term “commercial technology” means a technology in general use in the commercial marketplace.
The term “commercial technology” does not include a technology solely by use of the technology in a demonstration project* funded by the Department.
The term “cost” has the meaning given the term “cost of a loan guarantee” within the meaning of section 661a(5)(C) of title 2.
The term “eligible project” means a project described in section 16513 of this title.
The term “guarantee” has the meaning given the term “loan guarantee” in section 661a of title 2, except that a loan guarantee may guarantee any debt obligation of a non-Federal borrower to any Eligible Lender (as defined in section 609.2 of title 10, Code of Federal Regulations).
The term “guarantee” includes a loan guarantee commitment (as defined in section 661a of title 2).
The term “obligation” means the loan or other debt obligation that is guaranteed under this section.
The term “State energy financing institution” means a quasi-independent entity or an entity within a State agency or financing authority established by a State—
to provide financing support or credit enhancements, including loan guarantees and loan loss reserves, for eligible projects; and
to create liquid markets for eligible projects, including warehousing and securitization, or take other steps to reduce financial barriers to the deployment of existing and new eligible projects.
The term “State energy financing institution” includes an entity or organization established to achieve the purposes described in clauses (i) and (ii) of subparagraph (A) by an Indian Tribal entity or an Alaska Native Corporation.
Source credit: (Pub. L. 109–58, title XVII, § 1701, Aug. 8, 2005, 119 Stat. 1117; Pub. L. 117–58, div. D, title IV, § 40401(c)(1), Nov. 15, 2021, 135 Stat. 1037; Pub. L. 117–169, title V, § 50141(e), Aug. 16, 2022, 136 Stat. 2043.)
- 2005Enacted · Pub. L. 109-58 · 119 Stat. 1117
- 2021Amended · Pub. L. 117-58 · 135 Stat. 1037
- 2022Amended · Pub. L. 117-169 · 136 Stat. 2043
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-58 on 2005-08-08.
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