HR 6249 · 109th Congress · Energy

To authorize the Secretary of Energy to make price floor loans to certain low-carbon coal-to-liquid fuel projects.

Introduced 2006-09-28· Sponsored by Rep. Shimkus, John [R-IL-19]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Energy.(2006-10-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Energy Policy Act of 2005 to authorize the Secretary of Energy to enter into agreements, in the form of price floor loans, with up to six low-carbon CTL projects (that convert coal to liquid or gaseous transportation fuels) to guarantee each project a minimum price for its output of liquid or gaseous transportation fuels in return for: (1) payment to the United States of the cost of such loan; or (2) at the borrower's election, a call option for the United States equivalent in value to such payment. Prohibits any agreement for a price floor loan unless the Office of Management and Budget (OMB) determines that the loan cost is fully offset by either certain payments or by the value of a call option.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat