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Energy Loan Program Improvement Act of 2015

1/11/2023, 1:31 PM

Congressional Summary of S 1223

Energy Loan Program Improvement Act of 2015

This bill amends the Energy Policy Act of 2005 to repeal the condition of a full appropriation under which the Department of Energy (DOE) may make loan guarantees intended to serve as incentives for innovative technologies, but retains as the sole condition for the making of a guarantee that DOE has received from the borrower payment in full for the cost of the guarantee, and has deposited such payment into the Treasury.

Any reorganization, restructuring, or termination of a debt obligation, as well as the debt obligation itself (as under current law), may not be subordinate to other financing.

If DOE has not made a final decision 270 days after receipt of the loan application, the applicant may submit a loan status request, and may repeat such request every 90 days thereafter until the final decision is made. DOE must respond to such a request within 10 days after receiving it, summarizing any delaying factors and estimating the date the application review will be completed.

The temporary program for rapid deployment of renewable energy and electric power transmission projects is repealed, and the unobligated balance of amounts available to implement it are rescinded.

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Current Status of Bill S 1223

Bill S 1223 is currently in the status of Bill Introduced since May 6, 2015. Bill S 1223 was introduced during Congress 114 and was introduced to the Senate on May 6, 2015.  Bill S 1223's most recent activity was Committee on Energy and Natural Resources. Hearings held. as of June 9, 2015

Bipartisan Support of Bill S 1223

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 1223

Primary Policy Focus

Energy

Potential Impact Areas

- Advanced technology and technological innovations
- Alternative and renewable resources
- Appropriations
- Department of Energy
- Electric power generation and transmission
- Executive agency funding and structure
- Government lending and loan guarantees

Alternate Title(s) of Bill S 1223

Energy Loan Program Improvement Act of 2015
A bill to amend the Energy Policy Act of 2005 to improve the loan guarantee program for innovative technologies, and for other purposes.
Energy Loan Program Improvement Act of 2015

Comments

Sponsors and Cosponsors of S 1223

Lisa Murkowski
Lisa Murkowski
AlaskaRepublican

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