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To amend title XVII of the Energy Policy Act of 2005 to specify that the Secretary of Energy may not make a loan guarantee under such title for a project if the applicable borrower has previously defaulted on an obligation guaranteed under such title, and for other purposes.
Summary
This bill amends the Energy Policy Act of 2005 to prohibit the Secretary of Energy from providing loan guarantees to borrowers who have previously defaulted on an obligation guaranteed under the same loan guarantee program. The prohibition also applies to any related or successor entity of the defaulting borrower, as determined by the Secretary.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
Actions (4)
- Sep 20, 2021 Referred to the Subcommittee on Energy. · house
- Sep 17, 2021 Referred to the Subcommittee on Energy. · house
- Sep 17, 2021 Referred to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. · house
- Sep 17, 2021 Introduced in House
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Full text
IN THE HOUSE OF REPRESENTATIVES
September 17, 2021
Mr. Young introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
A BILL
To amend title XVII of the Energy Policy Act of 2005 to specify that the Secretary of Energy may not make a loan guarantee under such title for a project if the applicable borrower has previously defaulted on an obligation guaranteed under such title, 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 “Energy Accountability Act”.
SEC. 2. DISQUALIFICATION OF BORROWERS WHO HAVE PREVIOUSLY DEFAULTED.
Section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512) is amended by adding at the end the following:
“(r) Disqualification for Previous Defaults.—The Secretary may not make a guarantee under this title for a project if the borrower or any related or successor entity, as determined by the Secretary, has previously defaulted on an obligation guaranteed under this title.”. <all>
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