Agency: Department of Energy – Loan Programs Office
Description:
To provide loan guarantees for the unpaid principal and interest due on any loan made to an Indian tribe or a tribal energy development organization for energy development.
Bill Section:
50145
US Code:
25 USC 3502(c)
New or Existing:
Existing
Potential Cost:
$75,000,000
Timeline:
FY22-28
Implementation Status/Rulemaking:
As of December 20, 2022, no loans or loan guarantees have been issued under this program. Source: Source“>Source
TCS Notes:
The program was authorized in 2005 and Congress began appropriating funding for it in Fiscal 2017.
In addition to appropriating new spending, this section increased the total loan authority from $2 billion to $20 billion. This section also allowed for loan guarantees to cover the full outstanding amount, as opposed to the previous 90% limit.