A bill to establish fiscal incentives for the conversion of existing oil-fired and gas-fired power plant and industrial boilers and heat devices to coal as a primary source.
Coal Substitution Incentive Act - Authorizes the Administrator of the Federal Energy Administration to make and guarantee loans to assist industries in the purchases and installation of air pollution control devices for coal-fired boilers and heating devices. Limits the aggregate amount of outstanding loan guarantees to $5,000,000,000. Limits the aggregate amount of outstanding loans to $1,000,000,000.
Establishes additional criteria and limitations on the making of such loans and guarantees. Stipulates that no such commitments shall be made after January 1, 1975.
Authorizes the appropriation of $200,000,000 for each of fiscal years 1977 through 1981 for the purposes of this Act.
Stipulates that priority consideration be given to requests for assistance by facilities in receipt of coal conversion orders issued by the Administrator under the Energy Supply and Environmental Coordination Act of 1974.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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