Sec. 136, Advanced Technology Vehicles Manufacturing Incentive Program o...

9

AUTHENTICATED

u.s. GOVERNMENT
INFORMATION

GPO

PUBLIC LAW 1l0-140-DEC. 19,2007

ENERGY INDEPENDENCE AND SECURITY ACT
OF 2007

121 STAT. 1492

PUBLIC LAW 1l0-140-DEC. 19,2007

Public Law 110-140
110th Congress
An Act
Dec. 19, 2007
[H.R. 6]

Energy
Independence
and Security Act
of2007.
42 USC 17001
note.

To move the United Stat.es toward greater energy independence and security, to
increase the production of clean renewable fuels, to prot.ect consumers, to increase
the efficiency of products, buildings, and vehicles, to promote research on and
deploy greenhouse gas capture and storage options, and to improve the energy
performance of the Federal Government, 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; TABLE OF CONTENTS.
(a) SHORT TITLE.-This Act ma,y be cited as the "Energy
Independence and Security Act of 2007 '.
(b) TABLE OF CONTENTs.-The table of contents of this Act
is as follows:
Sec, 1. Short title; table of contents.
Sec. 2. Definitions.
Sec. 3. Relationship to other law.

TITLE I-ENERGY SECURITY THROUGH IMPROVED VEHICLE FUEL
ECONOMY
Subtitle A-Increased Corporate Average Fuel Economy Standards

Sec. 101. Short title.
Sec. 102. Average fuel economy standards for automobiles and certain other vehicles.
Sec. 103. Definitions.
Sec. 104. Credit trading program.
Sec. 105. Consumer information.
Sec. 106. Continued applicability of existing standards.
Sec. 107. National Academy of Sciences studies.
Sec. 108. National Academy of Sciences study of medium-duty and heavy-duty
truck fuel economy.
Sec. 109. Extension of flexible fuel vehicle cr'edit program.
Sec. 110. Pet10dic review of accuracy offuel economy labeling procedures.
Sec. 111. Consumer tire information.
Sec. 112. Use of civil penalties for research and development.
Sec. 113. Exemption from separate calculation requirement.
Subtitle B-Improved Vehicle Technology
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

131.
132.
133.
134.
135.
136.

Transportation electrification.
Domestic manufacturing conversion grant program.
Inclusion of electric drive in Energy Policy Act of 1992.
Loan guarantees for fuel-efficient automobile parts manufacturers.
Advanced battery loan guarantee program.
Advanced technology vehicles manufacturing incentive program.
Subtitle C-Fedel'aI'Vehicle Fleets

Sec. 141. Federal vehicle fleets.
Sec. 142. Federal fleet conservation requirements.

PUBLIC LAW 1l0-140-DEC. 19,2007

121 STAT. 1493

TITLE II-ENERGY SECURITY THROUGH INCREASED PRODUCTION OF
BIOFUELS
Subtitle A-Renewable Fuel Standard
Definitions.
Renewable fuel standard.
Study of impact of Renewable Fuel Standard.
Environmental and resource conservation impacts.
Biomass based diesel and biodiesellabe1in~.
Study of credits for use of renewable electl'lcity in electric vehicles.
Grant-s for production of advanced biofuels.
Integrated consideration of water quality in determinations on fuels and
fuel additives.
.
Sec. 209. Anti-backsliding.
Sec. 210. Effective date, savings provision, and transition rules.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

201.
202.
203.
204.
205.
206.
207.
208.

Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

221.
222.
223.
224.
225.
226.

227,
228.
229.
230.
231.
232.
Sec. 233.
Sec. 234.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

Subtitle B~Biofuels Research and Development
Biodiesel.
Biogas.
Grants for biofuel production research and development in certain States.
Biorefinery energy efficiency.
.
Study of optimization of flexible fueled vehicles to use E-85 fuel.
Study of engine durability and performance associated with the use of
biodiesel.
Study of optimization of biogas used in natural gas vehicles.
Algal biomass.
Biofuels and biorefinery information center.
Cellulosic ethanol and biofuels research.
Bioenergy research and development, authorization of appropriation.
Environmental research and development.
Bioenergy research centers.
University based research and development grant program.

Subtitle C-Biofuels Infrastructure
Sec. 241. Prohibition on franchise agreement restrictions related to renewable fuel
infrastructure.
Sec. 242. Renewable fuel dispenser requirements.
Sec. 243. Ethanol pipeline feasibility study.
Sec. 244. Renewable fuel infrastructure grants.
Sec. 245. Study of the adequacy of transportation of domestically-produced renewable fuel by railroads and other modes of transportation.
Sec. 246. Federal fleet fue1in~ centers.
Sec. 247. Standard specificatlOns for biodiesel.
Sec. 248. Biofuels distribution and advanced biofuels infrastructure.
Subtitle D-Environrnental Safeguards
Sec. 251. Waiver for fuel or fuel additives.

TITLE III-ENERGY SAVINGS THROUGH IMPROVED STANDARDS FOR
APPLIANCE AND LIGHTING
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

301.
302.
303.
304.
305.
306.

Sec. 307.
Sec. 308.
Sec. 309.
Se~ 310.
Sec. 311.
Sec. 312.
Sec. 313.
Sec. 314.
Sec. 315.
Sec. 316.

Subtitle A-Appliance Energy Efficiency
External power supply efficiency standards.
Updatin~ appliance test procedures.
Residential boilers.
Furnace fan standard process. .
Improving schedule for standards updatililg and clarifying State authority.
Regional standards for furnaces, central air conditioners, and heat
pumps.
Procedure for prescribing new 01' amended standards.
Expedited rulemakings.
Battery chargers.
Standby mode.
Energy standards for home appliances.
Walk-m coolers and walk-in freezers.
Electric motor efficiency standards.
Standards for single package vertical air conditioners and heat pumps.
Improved energy efficiency for appliances and buildings in cold climates.
Technical corrections.

Subtitle B-Lighting Energy Efficiency
Sec. 321. Efficient light bulbs.

121 STAT, 1494
Sec.
Sec.
Sec.
Sec.

PUBLIC LAW 110-140-DEC, 19, 2007
322.
323.
324.
325.

Incandescent reflector lamp efficiency standards.
Public building energy efficient and renewable energy systems.
Metal halide lamp fixtures.
Energy efficiency labeling for consumer electronic products.

TITLE IV-ENERGY SAVINGS IN BUILDINGS AND INDUSTRY
Sec. 401. Definitions.
Subtitle A-Residential Building Efficiency
Sec. 411. Reauthorization of weatherization assistance pl'ogl'arn.
Sec. 412. Study of renewable energy rebate programs.
Sec. 413. Energy code improvements applicable to manufactured housing.
Subtitle B-High·Pel'formance Commercial Buildings
Sec. 421. Commercial high·performance green buildings.
Sec. 422. Zero Net Energy Commercial Buildings Initiative.
Sec. 423. Public outreach.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

431.
432.
433.
434.
435.
436,
437,
438.
439.
440.
441.

Subtitle C---High·Perform~nce Federal Buildings
Energy reduction goals for Federal buildings.
Management of energy and water efficiency in Federal buildings.
Federal building energy efficiency performance standards.
Management of Federal building efficiency.
Leasing.
High-performance green Federal building.s,
Federal green building performance ..
Storm water runoff requirements for Federal development projects.
Cost-effective technology acceleration program.
'
Authorization of appropriations.
Public building life-cycle costs.

Subtitle D-Industrial Energy Efficiency
Sec. 451. Industrial energy efficiency.
Sec. 452. Energy-intensive industries program.
Sec, 463, Energy efficiency for data center buildings,
Subtitle E-Healthy High·Performance Schools
Sec, 461, Healthy high-performance schools,
Sec, 462, Study on indoor environmental quality in schools,
Subtitle F-Institutional Entities
Sec, 471. Energy sustainability and efficiency grants and loans for institutions,
Subtitle G-Public and Assisted Housing
Sec, 481. Application of International Energy Conservation Code to public and assisted housing.
Subtitle H-General Provisions
Sec. 491. Demonstration project.
Sec. 492. Research and development.
Sec. 493. Environmental Protection Agency demonstration grant program for local
governments.
Sec. 494. Green Building Advisory Committee.
Sec. 495. Advisory Committee on Energy Efficiency Finance.
1'ITLE V-ENERGY SAVINGS IN GOVERNMENT AND PUBLIC INSTITUTIONS
Sec.
Sec.
Sec.
Sec,
Sec,

501.
502.
503.
504.
505.

Su~title A-United States Capitol Complex
Capitol complex photovoltaic roof feasibility studies.
Capitol complex E-85 refueling station.
Energy and environmental measures in Capitol complex master plan.
Promoting maximum efficiency in operation of Capitol power plant.
Capitol power plant carbon dioxide emissions feasibihty study and demo
onstration projects.

Subtitle B-Energy Savings Performance Contracting
Sec. 511. Authority to enter into contracts; reports.
Sec. 512. Financing flexibility.
Sec. 513. Promoting long-term energy savings performance contracts and verifying
savings.

PUBLIC LAW 1l0-140-DEC. 19,2007
Sec.
Sec.
Sec.
Sec.

514.
515.
516.
517.

121 STAT. 1495

Permanent reauthorization.
Definition of energy savings.
Retention of savings,
Training Federal contracting officers to negotiate energy efficiency con-

tracts.

Sec. 518. Study of energy and cost savings in nonbuilding applications.

Subtitle C-Energy Efficiency in Federal Agencies
Sec. 521. Installation of photovoltaic system at Department of Energy headquarters
building.
Sec. 522. Prohibition on incandescent lamps by Coast Guard.
Sec. 523. Standard relating to solar hot water heaters.
Sec. 524. Federally-procured appliances with standby power.
Sec. 525. Federal procurement of energy efficient products.
Sec. 526. Procurement and acquisition of alternative fuels.
Sec. 527. Government efficiency status reports.
Sec. 528. OMB government efficiency reports and scorecards.
Sec. 529. Electricity sector demand response.
Subtitle D-Energy Efficiency of Public Institutions
Sec. 531. Reauthorization of State energy programs.
Sec. 532. Ut.i1ity energy efficiency programs.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

541.
542.
543.
544.
545.
546.
547.
548.

Subtitle E-Energy Efficiency and Conservation Block Grants
Definitions.
Energy Efficiency and Conservation Block Grant Program.
Allocation of funds.
Use of funds.
Requirements for eligible entities.
Compet.itive grant.s.
Review and evaluation.
Funding.

TITLE VI-ACCELERATED RESEARCH AND DEVELOPMENT
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

601.
602.
603.
604.
605.
606.
607.

Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

611.
612.
613.
614.
615.
616.

Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

617.
618.
619.
620.
621.
622.
623.
624.
625.

Subtitle A-Solar Energy
Short title.
Thermal energy storage research and development program.
Concentrating solar power commercial application studies.
Solar energy curriculum development and certification grants.
Daylightjng systems and direct solar light pipe technology.
Solar Ail' Conditioning Research and Development Program.
Photovoltaic demonstration program.
Subtitle B-Geothermal Energy
Short title.
Definitions.
Hydrothermal research and development.
General geothermal systems research and development.
Enhanced geothermal systems research and development.
Geothermal energy production from oil and gas fields and recovery and
production of geopressured gas resources.
Cost sharing and proposal evaluation.
Center for geothermal technology transfer.
GeoPowering America.
Educational pilot program.
Reports.
Applicability of other laws.
Authorization of appropriations.
International geothermal energy development.
High cost region geothermal energy grant program.

Subtitle C-Marine and Hydrokinetic Renewable Energy Technologies
631. Short title.
632. Definition.
633. Marine and hydrokinetic renewable energy research and development.
634. National Marine Renewable Energy Research, Development, and Demonstration Centers.
Sec. 635. Applicability of other laws.
Sec. 636. Authorization of appropriations.
Sec.
Sec.
Sec.
Sec.

121 STAT. i496

PUBLIC LAW 1l0-140-DEC. 19,2007

Subtitle D-Energy Storage for Transportation and Electric Power
Sec. 641. Energy storage competitiveness.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

651.
652,
653.
654.
655.
656.

Subtitle E-Miscellaneous Provisions
Lightweight materials research and development.
Commercial insulation demonstration program.
Technical criteria for clean coal power Initiative.
H-Prize,
Bright Tomorrow Lighting Prizes.
Renewable Energy innovation manufacturing partnership.
TITLE VII-CARBON CAPTURE AND SEQUESTRATION

Subtitle A-Carbon Capture and Sequestration Research l Development, and
Demonstration
Sec. 701. Short title.
Sec. 702. Carbon capture and sequestration research, development, and demonstration program.
Sec. 703. Carbon ca\,ture.
Sec. 704. R:eviewof arge-scale programs.
Sec. 705. Geologic sequestration training and research.
Sec. 706. Relation to Safe Drinking Water Act.
Sec. 707. Safety research.
Sec. 708. University based research and development grant program.
Subtitle B-Carbon Capture and Sequestration Assessment and Framework
Sec. 711. Carbon dioxide sequestration capacity assessment.
Sec. 712. Assessment of carbon sequestration and methane and nitrous oxide emis'
sions from ecosystems.
Sec. 713. Carbon dioxide sequestration inventory.
Sec. 714. Framework for geological carbon sequestration on public land.

TITLE VIII-IMPROVED MANAGEMENT OF ENERGY POLICY
Subtitle A-Management Improvements
National media campaign.
Alaska Natural Gas Pipeline administration.
Renewable energy deployment.
Coordination of planned refinery outages.
Assessment of resources.
Sense of Congress relating to the use of renewable resources to generate
energy.
Sec. 807. Geothermal assessment, exploration information, and priority activities.
Sec.
Sec.
Sec.
Sec,
Sec.
Sec.

801.
802.
803.
804.
805.
806.

Sec.
Sec.
Sec.
Sec.
Sec,

Subtitle B-Prohibitions on Market Manipu!~tion and False Information
811. Prohibition on market manipulation.
812. Prohibition on false information.
813. Enforcement by the Federal Trade Commission,
814. Penalties.
815. Effect on other laws.

TITLE IX-INTERNATIONAL ENERGY PROGRAMS
Sec. 901. Definitions.
Subtitle A-Assistance to Promote Clean and Efficient Energy Technologies in
Foreign Countries
Sec. 911. United States assistance for developing countries.
Sec. 912. United States exports and outreach programs for India, China, and other
countries.
Sec. 913. United States trade missions to encourage private sector trade and investment.
Sec. 914. Actions by Overseas Private Investment Corporation.
Sec. 915. Actions by United States Trade and Development Agency.
Sec. 916. Deployment of international clean and efficient energy technologies and
investment in global energy markets.
Sec. 917. United States-Israel energy cooperation.
Subtitle B-International Clean Energy Foundation
Sec. 921. Definitions.

PUBLIC LAW 1l0-140-DEC. 19,2007

121 STAT. 1497

922. Establishment and management of Foundation.
923. Duties of Foundation.
924. _Annual report.
925, Powers of the Foundation; related provisions.
Sec. 926, General personnel authorities,
Sec. 927. Authorization of appropriations.
Sec.
Sec.
Sec.
Sec.

Subtitle C-Miscellaneous Provisions
Energy diplomacy and security within the Department of State.
National Security Council reorganization.
Annual national energy security strategy report.
Convention on Supplementary Compensation for Nuclear Damage contingent cost allocation.
Sec. 935. Transparency in extractive industries resource payments.

Sec. 931.
Sec. 932.
Sec. 933,
Sec. 934.

TITLE X-GREEN JOBS

Sec. 1001. Short title.
Sec. 1002. Energy efficiency and renewable energy worker training program.
TITLE XI-ENERGY TRANSPORTATION AND INFRASTRUCTURE

Subtitle A-Department of Transportation
Sec. 1101. Office of Climate Change and Environment.
Subtitle B-Railroads
Sec. 1111. Advanced technology locomotive grant pilot program.
Sec. 1112. Capital grants for class II and class 111 railroads.
Subtitle C-Marine Transportation
Sec. 1121. Short sea transportation initiative.
Sec. 1122. Short sea shippmg eJigibility for capital construction fund.
Sec. 1123. Short sea transportation report.
Subtitle D-Highways
Sec, 1131. Increased Federal share for CMAQ projects.
Sec. 1132. Distribution of rescissions.-

Sec. 1133. Sense of Congress regarding use of complete streets design techniques.
TITLE XII-SMALL BUSINESS ENERGY PROGRAMS

Sec. 1201. Express loans for renewable energy and energy efficiency.
Sec. 1202. Pilot program for reduced 7{a) fees for purchase of energy efficient tech·
nologies.
Sec. 1203. Small business enel'iQ: efficiency.
Sec. 1204. Larger 504 loan limIts to help business develop energy efficient tech·
nologies and purchases.
Sec. 1205. Energy saving debentures.
Sec. 1206. Investments in energy saving small businesses.
Sec. 1207. Renewable fuel capital investment company.
Sec. 1208. Study and report.
TITLE XIII-SMART GRID

Statement of policy on modernization of electricity grid.
Smart grid system report.
Smart grid advisory committee and smart grid task force.
Smart grid technology research, development, and demonstration.
Smart grid interoperability framework.
Federal matching fund for smart grid investment costs.
State consideration of smart grid.
Study of the effect of private wire laws on the development of combined
heat and power facilities.
Sec. 1309. DOE study of security attributes of smart grid systems.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

1301.
1302.
1303.
1304.
1305.
1306.
1307.
1308.

Sec.
Sec.
Sec.
Sec.
Sec.
Sec.
Sec.

1401.
1402.
1403,
1404,
1405.
1406.
1407.

TITLE XIV-POOL AND SPA SAFETY

Short title.
Findings.
Definitions.
Federal swimming pool and spa drain cover standard.
State swimming pool safety grant program.
Minimum State law requirements.
Education program,

121 STAT. 1498

PUBLIC LAW 1l0-140-DEC. 19,2007

Sec. 1408. CPSC report.

TITLE XV-REVENUE PROVISIONS
Sec. 1500. Amendment of 1986 Code.
Sec. 1501. Extension of additional 0.2 percent FUrA surtax.
Sec. 1502. 7·year amortization of geological and geophysical expenditures for cer"
tain major integrated oil companies.

TITLE XVI-EFFECTIVE DATE
Sec. 1601. Effective date.
42 USC 17001.

SEC. 2. DEFINITIONS.
In this Act:
(1) DEPARTMENT.-The term "Department" means the
Department of Energy.
(2) INSTITUTION OF RIG.HER EDUCATION.-The term "institution of higher education" has the meaning given the term
in section 101(a) of the Higher Education Act of 1965 (20
U.S.C. 1001(a».
(3) SECRETARY.-The term "Secretary" means the Secretary
of Energy.

42 USC 17002.

SEC. a. RELATIONSHIP TO OTHER LAW.
Except to the extent expressly provided in this Act or an amendment made by this Act, nothing in this Act or an amendment
made by this Act supersedes, limits the authority provided or
responsibility conferred by, or authorizes any violation of any provision oflaw (including a regulation), including any energy or environmental law or regulation.

TITLE I-ENERGY SECURITY THROUGH
IMPROVED VEHICLE FUEL ECONOMY
Ten-in-Ten Fuel
Economy Act.

42 USC 30101
note.

Subtitle A-Increased Corporate Average
Fuel Economy Standards
SEC. 101. SHORT TITLE.
This subtitle may be cited as the "Ten-in-Ten Fuel Economy
Act",
SEC. 102. AVERAGE FUEL ECONOM.Y STANDARDS FOR AUTOMOBILES
AND CERTAIN OTHER VEHICLES.
(a) INCREASED STANDARDs.-Section 32902 of title 49, United
States Code, is amended(1) in subsection (a)(A) by striking "NON-PASSENGER AUTOMOBILES.-"
and inserting "PRESCRIPTION OF STANDARDS BY REOULATION.-";

(B) by striking "(except passenger automobiles)" in subsection (a); and
(C) by striking the last sentence;
(2) by striking subsection (b) and inserting the following:
"(b) STANDARDS FOR AUTOMOBILES AND CERTAIN OTHER
VEHICLES.-

PUBLIC LAW 1l0-140-DEC. 19,2007

121 STAT. 1514

(g) GUARANTEE FEE.-The recipient of a loan guarantee under
subsection (a) shall pay the Secretary an amount determined by
the Secretary to be sufficient to cover the administrative costs
of the Secretary relating to the loan guarantee.
(h) FuLL FAITH AND CREDlT.-The full faith and credit of the
United States is pledged to the payment of all guarantees made
under this section. Any such guarantee made by the Secretary
shall be conclusive evidence of the eligibility of the loan for the
guarantee with respect to principal and interest. The validity of
the guarantee shall be incontestable in the hands of a holder
of the guaranteed loan.
(i) REPORTS.-Until each guaranteed loan under this section
has been repaid in full, the Secretary shall annually submit to
Congress a report on the activities of the Secretary urider this
section.
.
(j) AUTHORIZATION OF A!'PROPRIATIONS.-There are authorized
to be appropriated such sums as are necessary to carry out this
section.
(k) TERMINATION OF AUTHORlTY.,-The authority of the Secretary to issue a loan guarantee under subsection (a) terminates
on the date that is 10 years after the date of enactment of this
Act,
42 USC 17013.

SEC.

ADVANCED TECHNOLOGY VEHICLES MANUFACTURING
INCENTIVE PROGRAM.
(a) DEFINITIONs.-In this section:
(1) ADVANCED TECHNOLOGY VEHICLE.-The term "advanced
technology vehicle" means a light duty vehicle that meets(A) the Bin 5 Tier II emission standard established
in regulations issued by the Administrator of the Environmental Protection Agency under section 202(i) of the Clean
Air Act (42 U.S.C. 7521(i)), or a lower-numbered Bin emission standard;
(B) any new emission standard in effect for fine particulate matter prescribed by the Administrator under that
Act (42 U.S.C. 7401 et seq.); and
.
(C) at least 125 percent of the average base year combined fuel economy for vehicles with substantially similar
attributes.
(2) COMBINED FUEL ECONOMY.-The term "combined fuel
economy" means(A) the combined city/highway miles per gallon values,
as reported in accordance with section 32904 of title 49,
United States Code; and
(B) in the case of an electric drive vehicle with the
ability to recharge from an off-board source, the reported
mileage, as determined in a manner consistent with the
Society of Automotive Engineers recommended practice for
that configuration or a similar practice recommended by
the Secretary.
(3) ENGINEERING INTEGRATION cosTs.-The term
Clengineering integration costs" includes the cost of engineering
tasks relating to(A) incorporating qualifying components into the design
of advanced technology vehicles; and
136.

;(

PUBLIC LAW 1l0-140-DEC. 19,2007

121 STAT. 1515

(B) designing tooling and equipment and developing
manufacturing processes and material suppliers for production facilities that produce qualifying components or
advanced technology vehicles.
(4) QUALIFYING COMPONENTS.-The term "qualifying components" means components that the Secretary determines to
be(A) designed for advanced technology vehicles; and
(B) installed for the purpose of meeting the performance requirements of advanced technology vehicles.
(b) ADVANCED VEHICLES MANUFACTURING FACILITY.-The Sec- Awards.
retary shall provide facility funding awards under this section to
automobile manufacturers and component suppliers to pay.not more
than 30 percent of the cost of(1) reequipping, expanding, or establishing a manufacturing facility in the United States to produce-,
(A) qualifying advanced technology vehicles; or
(B) qualifying components; and
(2) engineering integration performed in the United States
of qualifying vehicles and qualifying components.
.
(c) PERIOD OF AVAILABILITY.-An award under subsection (b) Applicability.
shall apply to(1) facilities and equipment placed in service before
December 30, 2020; and
(2) engineering integration costs incurred during the period
beginning on the date of enactment of this Act and ending
on December 30, 2020.
(d) DIRECT LOAN PROGRAM.(1) IN GENERAL.-Not later than 1 year after the date Deadline.
of enactment of this Act, and subject to the availability of
appropriated funds, the Secretary shall carry out a program
to provide a total of not more. than $25,000,000,000 in loans
to eligible individuals and entities (as determined by the Secretary) for the costs of activities described in subsection (b).
(2) Al'PLICATION.-An applicant for a loan under this subsection shall submit to the Secretary an application at such
time, in such manner, and containing such information as
the Secretary may require, including a written assurance that--(A) all laborers and mechanics employed by contractors
or subcontractors during construction, alteration, or repair
that is financed, in whole or in part, by a loan under
this section shall be paid wages at rates not less than
those prevailing on similar construction in the locality,
as determined by the Secretary of Labor in accordance
with sections 3141-3144, 3146, and 3147 of title 40, United
States Code; and
(B) the Secretary of Labor shall, with respect to the
labor standards described in this paragraph, have the
authority and functions set forth in Reorganization Plan
Numbered 14 of 1950 (5 U.S.C. App.) and section 3145·
of title 40, United States Code.
(3) SELECTION OF ELIGIBLE PROJECTs.-The Secretary shall
select eligible projects to receive loans under this subsection
in cases in which, as determined by the Secretary, the award
recipient--(A) is financially viable without the receipt of additional Federal funding associated with the proposed project;

(

121 STAT. 1516

Regulations.

PUBLIC LAW 1l0-140-DEC. 19,2007

(B) will provide sufficient information to the Secretary
for the Secretary to ensure that the qualified investment
is expended efficiently and effectively; and
(C) has met such other criteria as may be established
and published by the Secretary.
(4) RATES, TERMS, AND REPAYMENT OF LOANS.-A loan provided under this subsection(A) shall have an interest rate that, as of the date
on which the loan is made, is equal to the cost of funds
to the Department of the Treasury for obligations of comparable maturity;
(B) shall have a term equal to the lesser of(i) the projected life, in years, of the eligible project
to be carried out using funds from the loan, as determined by the Secretary; and
(ii) 25 years;
(C) may be subject to a deferral in repayment for
not more than 5 years after the date on which the eligible
project carried out using funds from the loan first begins
operations, as determined by the Secretary; and
(D) shall be made by the Federal Financing Bank.
(e) IMPROVEMENT.-The Secretary shall issue regulations that
require that, in order for an automobile manufacturer to be eligible
for an award or loan under this section during a particular year,
the adjusted average fuel economy of the manufacturer for light
duty vehicles produced by the manufacturer during the most recent
year for which data are available shall be not less than the average
fuel economy for all light duty vehicles of the manufacturer for
model year 2005. In order to determine fuel economy baselines
for eligibility of a new manufacturer or a manufacturer that has
not produced previously produced equivalent vehicles, the Secretary
may substitute industry averages.
(f) FEES.-Administrative costs shall be no more than $100,000
or 10 basis point of the loan.
(g) PRIORITY.-The Secretary shall, in making awards or loans
to those manufacturers that have existing facilities, give priority
to those facilities that are oldest or have been in existence for
at least 20 years. Such facilities can currently be sitting idle.
(h) SET ASIDE FOR SMALL AUTOMOBILE MANUFACTURERS AND
COMPONENT SUPPLIERS.(1) DEFINITION OF COVERED FIRM.-In this subsection, the
term "covered firm" means a firm that(A) employs less than 500 individuals; and
(B) manufactures automobiles or components of automobiles.
(2) SET ASIDE.-Of the amount of funds that are used
to provide awards for each fiscal year under subsection (b),
the Secretary shall use not less than 10 percent to provide
awards to covered firms or consortia led by a covered firm.
(i) AUTHORIZATION OF ApPROPRIATIONS.-There are authorized
to be appropriated such sums as are necessary to carry out this
section for each of fiscal years 2008 through 2012.