Energy Conservation Act

[AI summary unavailable — showing source text] Energy Conservation Act - Directs the Administrator of the Federal Energy Administration to provide guidelines for the development and preparation of proposed State energy conservation programs. Stipulates that such guidelines be designed to allow States maximum flexibility and discretion in preparing such programs. Requires that States be given an opportunity to participate in the drafting of such guidelines. Authorizes the Administrator to provide Federal financial assistance to States whose proposed energy conservation programs meet specified Federal criteria. Stipulates that such assistance may be in the form of loan guarantees, interest subsidies, or grants. Lists factors to be considered in determining the amount of such assistance. Stipulates that no State shall receive more than 12.5 percent of the national total in each category of financial assistance. Establishes the following limits on financial assistance under this Act: (1) loan guarantees-- shall not exceed an aggregate of $10,000,000,000 at any one time; (2) interest subsidies to residential and small business consumers--authorizes an appropriation of not more than $90,000,000 for fiscal year 1977, $180,000,000 for …