H.R. 271 · 112th Congress
To direct the Secretary of Agriculture to establish a program to provide covered institutions loans for conversion to use of biomass for energy generation.
- Stage
- In committee
- Sponsor
- Jeff Fortenberry
- Introduced
- 2011-01-12
- Latest action
- 2011-03-03 · Referred to the Subcommittee on Conservation, Energy, and Forestry.
Summary
Requires the Secretary of Agriculture to: (1) establish a program to provide zero-interest loans to covered institutions (i.e., an institution of higher education, an elementary or secondary school, or a hospital) for capital costs for converting to the use of biomass for energy generation; and (2) ensure that an institution receiving such a loan will use woody biomass for not less than 75% of the energy generation resulting from such conversion.
Establishes in the Treasury a revolving fund for such program. Requires the Secretary to: (1) deposit amounts received as payment on loans provided under such program into such revolving fund; and (2) make available $100 million of the funds of the Commodity Credit Corporation to such revolving fund.