A bill to direct the Administrator of Energy Research and Development to establish a system of research and development of energy-conserving industrial technologies with due regard for the need to operate such system in a manner which will stimulate depressed sectors of the American economy.
Industrial Energy Conservation Act - Directs the Administrator of Energy Research and Development to establish and maintain a comprehensive program for research, development, and demonstration of industrial energy conserving technologies. Specifies criteria that the Administrator is required to apply in reaching decisions regarding the directions, priorities activities, and operations of the industrial energy conservation program.
Authorizes the Administrator to make loans and loan guarantees for the purchase, construction, operation, or maintenance of energy-efficient equipment or facilities. Directs the Administrator to give special priority to loan recipients in depressed industrial areas.
Establishes limits on the amount of outstanding indebtedness to be guaranteed under this Act. Stipulates that no guarantee or commitment to guarantee shall be undertaken after September 30, 1977. Details procedures in the event of a default on guaranteed obligations.
Authorizes the appropriation of $70,000,000 for fiscal year 1977 and $100,000,000 for fiscal year 1978 for research and development programs authorized by this Act. Authorizes the appropriation of $50,000,000 for fiscal year 1977 and $70,000,000 for fiscal year 1978 for the purpose of making loans under this Act. Authorizes the appropriation of up to $500,000,000 to be paid in the event of a default on obligations guaranteed under this Act.
Introduced in House
Introduced in House
Referred to House Committee on Science and Technology.
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