Federal Stimulus of Commercial Application of Energy Technology Act of 2006 - Directs the Secretary of Energy to establish the Innovative Energy Technologies Fund for Federal Buildings (the Fund) and to administer the Fund to enable federal agencies to demonstrate innovative energy technologies for retrofit or new construction of federal buildings and facilities.
Allows federal agencies to apply to the Secretary for a loan for financing the demonstration of innovative energy technology projects and requires such agencies to repay the Fund from savings in energy, water, and other costs attributable to actions taken as a result of the project undertaken with the loan. Permits a federal agency, in addition to financing an innovative energy technology project, to use the loan amount to pay the costs of administration and proposal development and to acquire and operate equipment necessary to monitor and verify associated energy savings. Requires a federal agency to repay to the Fund the principal amount of the loan, plus interest at a rate determined by the Secretary.
Requires a federal agency to submit specified annual reports to the Secretary with respect to the installation of an innovative energy technology project for which a loan is provided under this Act in an amount greater than $1 million until the date that final repayment of the loan is due.
Requires the Secretary to transmit to Congress a report on the operations of the Fund and the total expenditures from the Fund to each federal agency.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5659 Introduced in House (IH)]
109th CONGRESS
2d Session
H. R. 5659
To provide for the demonstration and commercial application of
innovative energy technologies derived from federally-sponsored
research and development programs, by incorporating those technologies
into Federal buildings, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 21, 2006
Mr. Gordon introduced the following bill; which was referred to the
Committee on Science
_______________________________________________________________________
A BILL
To provide for the demonstration and commercial application of
innovative energy technologies derived from federally-sponsored
research and development programs, by incorporating those technologies
into Federal buildings, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Federal Stimulus of Commercial
Application of Energy Technology Act of 2006''.
SEC. 2. DEFINITIONS.
For purposes of this Act:
(1) Cost-effective.--The term ``cost-effective'' means
resulting in a simple payback of costs in 10 years or less.
(2) Department.--The term ``Department'' means the
Department of Energy.
(3) Fund.--The term ``Fund'' means the Innovative Energy
Technologies Fund for Federal Buildings established in section
3.
(4) Innovative energy technology.--The term ``innovative
energy technology'' means a technology, including an advanced
energy conservation or renewable energy technology, that was
developed with the support of the Department, or other similar
technology.
(5) Innovative energy technology project.--The term
``innovative energy technology project'' means a project that--
(A) results in the cost-effective commercial
application of an innovative energy technology; and
(B) assists a Federal agency in meeting or
exceeding all Federal energy efficiency requirements
then in effect, including applicable Executive orders
such as Executive Order Nos. 12759 and 13123.
(6) Secretary.--The term ``Secretary'' means the Secretary
of Energy.
SEC. 3. ESTABLISHMENT OF FUND.
(a) In General.--Not later than 6 months after the date of
enactment of this Act, the Secretary of Energy shall establish the
Innovative Energy Technologies Fund for Federal Buildings. The
Secretary of Energy shall administer the Fund to enable Federal
agencies to demonstrate innovative energy technologies for retrofit or
new construction of Federal buildings and facilities.
(b) Criteria and Guidelines.--Not later than 6 months after the
date of enactment of this Act, the Secretary shall establish criteria
and guidelines for Federal agencies to borrow from and pay back to the
Fund.
SEC. 4. LOANS FROM THE FUND.
(a) General Procedure.--Federal agencies may apply to the Secretary
for a loan for financing the demonstration of innovative energy
technology projects, and shall repay the Fund from savings in energy,
water, and other costs attributable to actions taken as a result of the
project undertaken with the loan.
(b) Purposes of Loan.--In addition to financing an innovative
energy technology project, a Federal agency may use the loan amount to
pay the costs of administration and proposal development (including
data collection and energy surveys), and to acquire and operate
equipment necessary to monitor and verify associated energy savings.
(c) Repayments.--A Federal agency shall repay to the Fund the
principal amount of the loan, plus interest at a rate determined by the
Secretary. The repayment period shall be 15 years, or less as
appropriate to the project.
SEC. 5. REPORTS AND AUDITS.
(a) Reports to the Secretary.--Not later than 1 year after the
installation of an innovative energy technology project for which a
loan is provided under this Act in an amount greater than $1,000,000,
and each year thereafter until the date that final repayment of the
loan is due, the Federal agency receiving the loan shall transmit to
the Secretary a report that--
(1) states whether the project meets or fails to meet the
energy savings projections for the project; and
(2) for each project that fails to meet the energy savings
projections, states the reasons for the failure and describes
proposed remedies.
(b) Audits.--The Secretary may audit any innovative energy
technology project financed with a loan from the Fund to assess the
project's performance.
(c) Reports to Congress.--At the end of each fiscal year, the
Secretary shall transmit to Congress a report on the operations of the
Fund, including a statement of the total receipts into the Fund, and
the total expenditures from the Fund to each Federal agency.
SEC. 6. AUTHORIZATION OF APPROPRIATIONS.
(a) Establishment of Fund.--There are authorized to be appropriated
to the Secretary for the establishment of the Fund, $100,000,000 for
each of the fiscal years 2007 through 2016.
(b) Operation of Fund.--There are authorized to be appropriated to
the Secretary from the Fund, for carrying out the loan program under
this Act, such sums as may be necessary.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Science.
Referred to the Subcommittee on Energy.
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