ATVM Future Act

Hozzl · 2023-03-08T19:58:48Z

Explore the details of House Bill 2308 ATVM Future Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Energy. Stay informed on legislative developments.

3/8/2023, 7:58 PM

Summary of Bill HR 2308

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.

Congressional Summary of HR 2308

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.

Read the Full Bill

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Current Status of Bill HR 2308

Bill HR 2308 is currently in the status of Bill Introduced since April 1, 2021. Bill HR 2308 was introduced during Congress 117 and was introduced to the House on April 1, 2021. Bill HR 2308's most recent activity was Referred to the Subcommittee on Energy. as of April 2, 2021

Bipartisan Support of Bill HR 2308

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Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 2308

Primary Policy Focus

Energy

Potential Impact Areas

Advanced technology and technological innovationsAir qualityClimate change and greenhouse gasesElectric power generation and transmissionHybrid, electric, and advanced technology vehicles

Alternate Title(s) of Bill HR 2308

ATVM Future ActTo revise the advanced technology vehicles manufacturing incentive program, and for other purposes.ATVM Future ActAdvanced Technology Vehicles Manufacturing Future Act of 2021

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