§ 1531. — Feasibility study loan program.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 30USC1531]
TITLE 30--MINERAL LANDS AND MINING
CHAPTER 27--GEOTHERMAL ENERGY
SUBCHAPTER III--ESTABLISHMENT OF ASSISTANCE PROGRAM
Sec. 1531. Feasibility study loan program
(a) Authorization; purposes
The Secretary is authorized and directed to establish a program of
assistance for the accelerated development of geothermal resources for
nonelectric applications by geothermal utility districts, geothermal
industrial development districts, and other persons.
(b) Maximum amount of loan for costs of administration; cancellation of
unpaid balance and accrued interest
(1) In providing assistance under the program established pursuant
to subsection (a) of this section, the Secretary is authorized to make a
loan to any person to defray up to 90 per centum of the costs of (A)
studies to determine the feasibility of any geothermal development
described in such subsection, and (B) preparing applications for any
necessary licenses or other Federal, State, and local approvals
respecting such development.
(2) The Secretary may cancel the unpaid balance and any accrued
interest on any loan granted for a study pursuant to clause (A) of
paragraph (1) if he determines, on the basis of the study, that the
geothermal development is not technically or economically feasible.
(c) Maximum amount of loan for costs of construction
In providing assistance under such program, the Secretary is also
authorized to make a loan to any person to defray up to 75 per centum of
the costs directly related to the construction of a system or systems
for nonelectric geothermal development pursuant to such subsection,
where the Secretary finds that--
(1) all necessary licenses and other required Federal, State,
and local approvals for construction of such system or systems have
been or will be issued,
(2) the project involved will comply with all applicable laws
relating to protection of the environment, and
(3) the applicant requires such assistance to undertake and
complete the project.
(d) Interest rate; term
Each loan made pursuant to this section shall bear interest at a
discount or interest rate equal to the rate in effect (at the time the
loan is made) for water resources planning projects under section 80 of
the Water Resources Development Act of 1974 (42 U.S.C. 1962(d)-
17(a)).\1\ Each loan shall be for such term as the Secretary deems
appropriate, but not in excess of ten years for loans under subsection
(b) of this section or thirty years for loans under subsection (c) of
this section.
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\1\ So in original. Should be ``(42 U.S.C. 1962d-17(a)).''
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(e) Funding; deposit of amount repaid
Loans pursuant to this section shall be made from funds appropriated
(pursuant to this subchapter) to the Geothermal Resources Development
Fund established under section 1144 of this title; and amounts repaid on
such loans shall be deposited in the Geothermal Resources Development
Fund for purposes of this subchapter.
(f) Authorization of appropriations
For loans under clause (A) of subsection (b)(1) of this section for
fiscal year 1981, there is authorized to be appropriated to the
Geothermal Resources Development Fund not to exceed $5,000,000, which
shall remain available until expended. For loans under such clause (A)
for subsequent fiscal years, and for loans under clause (B) of
subsection (b)(1) of this section or under subsection (c) of this
section (for any such subsequent fiscal year), there may be appropriated
to such Fund only such sums as are authorized by legislation hereafter
enacted.
(g) ``Person'' defined
As used in this section, the term ``person'' includes
municipalities, cooperatives, industrial development agencies, nonprofit
organizations, and Indian tribes, as well as the districts referred to
in subsection (a) of this section and the other entities included within
such term under section 1 of title 1.
(Pub. L. 96-294, title VI, Sec. 631, June 30, 1980, 94 Stat. 767.)
