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GAO-10-322R 1 (2009-12-22)

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T I   IAccountability * Integrity * Reliability
United States Government Accountability Office
Washington, DC 20548


          B-319134


          December 22, 2009

          The Honorable Jeff Bingaman
          Chairman
          The Honorable Lisa Murkowski
          Ranking Minority Member
          Committee on Energy and Natural Resources
          United States Senate

          The Honorable Henry A. Waxman
          Chairman
          The Honorable Joe L. Barton
          Ranking Minority Member
          Committee on Energy and Commerce
          House of Representatives

          Subject: Department of Energy: Loan Guarantees for Projects That Employ
                  Innovative Technologies

          Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a
          major rule promulgated by the Department of Energy (DOE), entitled Loan
          Guarantees for Projects That Employ Innovative Technologies (RIN: 1901-AB27).
          We received the rule on December 7, 2009. It was published in the Federal Register
          as a final rule on December 4, 2009, with a stated effective date of December 4, 2009.
          74 Fed. Reg. 63,544.

          The final rule amends the regulations implementing the loan guarantee program for
          projects that (1) avoid, reduce, or sequester air pollutants or anthropogenic
          emissions of greenhouse gases; and (2) employ new or significantly improved
          technologies as compared to commercial technologies in service in the United States
          at the time the guarantee is issued. This rule is intended to provide flexibility in the
          determination of an appropriate collateral package to secure guaranteed loan
          obligations, facilitate collateral sharing and related intercreditor arrangements with
          other project lenders, and to provide a more workable interpretation of certain
          statutory provisions regarding DOE's treatment of collateral.

          The Congressional Review Act requires major rules to have a 60-day delay in their
          effective date following their publication in the Federal Register or receipt by


GAO-10-322R

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