Agency: Department of Energy – Loan Programs Office
Description:
Credit subsidies to support loans for “reequipping, expanding, or establishing a manufacturing facility… to produce, or for engineering integration… of, advanced technology vehicles” that emit low or zero exhaust greenhouse gas emissions.
Bill Section:
50142
US Code:
42 USC 17013
New or Existing:
Existing
Potential Cost:
$3,000,000,000
Timeline:
FY22-28
Implementation Status/Rulemaking:
The Loan Program Office accepts ATVM applications at any time.
TCS Notes:
This section also removes the previous $25 billion cap on ATVM loan authority.
Of the $3 billion appropriated, up to $25 million may be used for administrative expenses.