Title I: Geothermal Resources Research Program - Directs the Secretary of the Interior to establish a five year Federal Geothermal resources research program.
Authorizes appropriations of $10,000,000 to be spent over the five year life of the program for the purposes of this title.
Title II: Geothermal Resources Development Loan Program - Authorizes the Secretary to enter into contracts with persons engaged in the business of developing power from geothermal resources to perform specified duties including the development of the technology of power generation from geothermal resources to perform specified duties, including the development of the technology of power generation from geothermal resources.
Requires an annual written report to the President, Congress, and the Environmental Protection Agency on the progress of this program.
Provides for Federal loans equal to 75 percent of the cost of a project under this title. States that such loans shall be repaid if the Secretary determines the project has commercial value.
Establishes a revolving fund from which loans will be made and into which loan repayments will be deposited.
Authorizes appropriations of $20,000,000 in the first fiscal year after enactment of this Act and in each subsequent fiscal year an amount not exceeding $5,000,000, provided that the revolving fund does not exceed $20,000,000.
Introduced in House
Introduced in House
Referred to House Committee on Interior and Insular Affairs.
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