Geothermal Energy Research, Development, and Demonstration Act of 1974

(LATEST SUMMARY)

Geothermal Energy Research, Development, and Demonstration Act -

=Title I: Geothermal Energy Coordination and Management Project= - Establishes the Geothermal Energy Coordination and Management Project having overall responsiblity for the provision of effective management and coordination with respect to a national geothermal energy research, development, and demonstration program.

Directs the Chairman of the Project to initiate a resource inventory and assessment program with the objective of making regional and national appraisals of all types of geothermal resources, including identification of promising target areas for industrial exploration and development.

Directs the Chairman to initiate a research and development program for the purpose of resolving all major technical problems inhibiting the fullest possible commercial utilization of geothermal resources in the United States.

Directs the Chairman to implement a coordinated program of research and development in order to demonstrate the technical means for the extraction and utilization of the resource base, including any byproducts of such base, and in order to accomplish the goals established by this Act.

Directs the Chairman to initiate a program to design and construct geothermal demonstration plants.

Authorizes the Chairman to investigate and enter into agreements for the cooperative development of facilities to demonstrate the production of energy from geothermal resources.

Authorizes the National Science Foundation to support programs of education in the sciences and engineering to carry out the policy of this Act, such support to include fellowships, traineeships, technical training programs, technologist training programs, and summer institute programs.

=Title II: Loan Guaranties= - Authorizes the Chairman of the Project to designate an appropriate Federal agency to guarantee loans to encourage and assist in the commercial development of practicable means to produce useful energy from geothermal resources. Limits such guaranties to 75 percent of the aggregate cost of the project with respect to which the loan is made.

Sets forth terms and conditions for such loan guaranties.

Establishes in the Treasury of the United States the Geothermal Resources Development Fund to carry out the loan guarranty program authorized by this Title.

=Title III: General Provisions= - Requires the Project and any of its participants to place particular emphasis on assuring that the environment and the safety of persons and property are protected.

Authorizes appropriations to carry out the provisions of this Act.