ATVM Future Act

Advanced Technology Vehicles Manufacturing Future Act of 2021 or the ATVM Future Act

This bill reauthorizes through FY2031 and revises the Advanced Technology Vehicles Manufacturing Loan Program within the Department of Energy (DOE). Under the existing program, DOE provides financial support for the production of advanced technology vehicles.

The bill expands the program to include financial support for (1) medium-duty passenger vehicles and heavy-duty vehicles that meet specified emission standards or emit zero-emissions; and (2) components, such as batteries, of ultra-efficient vehicles.

The bill also revises the emission standards that light-duty vehicles must meet to be eligible for assistance under the program.

In addition, the bill revises requirements governing the evaluation of a loan applicant's prospects of repaying a loan under the program.

Bill 117 hr 2308, also known as the ATVM Future Act, is a piece of legislation currently being considered by the US Congress. The bill aims to reauthorize the Advanced Technology Vehicles Manufacturing (ATVM) loan program, which provides loans to manufacturers of advanced technology vehicles in order to promote the development and production of fuel-efficient vehicles.

The ATVM loan program was originally established in 2007 as part of the Energy Independence and Security Act, but its authorization expired in 2011. The ATVM Future Act seeks to reauthorize the program for an additional five years, allowing manufacturers to continue to access loans to support the production of advanced technology vehicles.

The bill includes provisions to streamline the application process for ATVM loans, making it easier for manufacturers to access the funding they need to develop and produce fuel-efficient vehicles. It also includes measures to ensure that the loans are used effectively and that the program continues to support the goals of reducing greenhouse gas emissions and promoting energy independence. Overall, the ATVM Future Act is aimed at supporting the development and production of advanced technology vehicles in the United States, with the goal of reducing the country's dependence on foreign oil and promoting a more sustainable transportation sector. The bill is currently being considered by Congress and may be subject to amendments before it is passed into law.