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1 1 (December 09, 2020)

handle is hein.crs/govddad0001 and id is 1 raw text is: SConr essional Research Servik Department of Energy Loan Programs: Title XVII Innovative Technology Loan Guarantees Updated December 9, 2020 The Department of Energy's (DOE's) Loan Programs Office (LPO) manages the Title XVII Innovative Technology Loan Guarantee Program, the focus of this Insight, and the Tribal Energy Loan Guarantee Program (TELGP), the focus of a companion CRS Insight. Table 1 provides a high-level comparison of these programs. LPO also manages the Advanced Technology Vehicles Manufacturing (ATVM) direct loan program. Established by the Energy Policy Act of 2005 (EPACT05 Title XVII, P.L. 109-58), as amended in 2009 (Sec. 406, P.L. 111-5), the Title XVII program has supported projects under two separate loan guarantee authorities with different characteristics (see Table 1). 1. Section 1703 authority is currently active and to date has committed funds to 1 project, and, 2. Section 1705 authority expired in September 2011 and committed funds to 28 projects. As with all federal credit programs, Title XVII requires that a subsidy cost be paid-through appropriations and/or payment by the borrower-prior to finalizing a loan guarantee agreement. The Federal Credit Reform Act of 1990 (FCRA; Section 13201 of P.L. 101-508) requires that estimated lifetime net costs of new loans and loan guarantees be recorded in the budget year in which the loans are disbursed (2 U.S.C §661c). The costs of these credit programs, referred to as subsidy costs, are measured on a net present value (NPV) basis-which is the combined value of expected future cash receipts, less expenditures adjusted or discounted, calculated using an interest rate based on Treasury securities. Table I. Department of Energy Loan Guarantee Programs Innovative Technology Loan Guarantee Program Tribal Energy Program (Title XVII) (Title XXVI) Section 1703 Section 1705 Section 503a Establishment Year 2005 2009 2005 Program Authority Ongoing Expired September 30, 2011 Ongoing Congressional Research Service https://crsreports.congress. gov IN11432 CIS iNSCGHT Prepared for Members and Cornemttees o Congres3--------------------------------------------------------------------------

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