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DOCUMENT RESUPE
05936 - (B1386425] R61&t4YO56
[Comparative Analysis of Loan Guarantee Authority]. END-78-70;
B-178726. May 16, 1973. Relearned May 17, 1978. 4 pp.
Report to Rep. William S. Moorhead, Chairman, House Committee on
Banking, Finance and Urban Affairs: Economic Statilization
Subccommittee; by Elmer B. Staats, Comptroller General.
Issue Area: Energy: Effect of Federal Financial Incenti.is, Tax
Policies, and Regulatory Policies on Energy Supply (1610);
Program and Dudget Information fcr Congressional Use f3400).
Contact: Energy mnd inerals Div.
Budget Function: Natural Resources, EnvironenL. and Energl:
Energy (3C5).
Organization CoDcerned: Department of Energy.
Congressional Relevance: House Committee on Banking, Finance and
Urban Affairs: Economic Stabilization Subccmmittee. Rep.
William S. 'oorhead.
Authority: Department of Energy Act of 1978 - Civilian
Applications (P.L, 95-238). Federal gonnuclear Energy
Research and Development Act of 1974 (P.L. 93-577).
Geothermai Energy Zesearch, Development and Cemonstration
Act of 1971s (P.L. 93-410). Energy Policy and Conservation
Act of 1975 (P.L. 94-163). Fnergy Conservation and
Pro6zcction Act of 1976. P.L. 94-385. H.R. 11137 (95th
Cong.) .
Diff..rences between the generic loan guarantee features
proposed by Title IX of the Department of Energy's 1979
authorization request and the existing loaa guarantee authority
contained in section 207 of the Dcpartment of Energy Act of 1978
were examined. Sectio, 207 would give the Department authority
to guarantee loans for the construction and start-up of
commercial demonstration synthet. c fuel projects. Title IX would
authorize loan guarantees for projects demonstrating the
feasibility of nonnuclear energy technologies, including solar
and other renewable technologies. The most important feature in
terms of congressional oversight and control, requiring that all
loan guarantees over $50 million be reriewed and approved by the
Congress, is iuclvded in both authorities. Other existing
legislation also authorizes the Department to use loan
guarantees to demonstrate the commercial viability of new energy
technologies. However, Jepartment or Eneary oificials believe
that the existing authcrities to guarantee lcns &re inadequate.
The officials argue that Title IX authority would enable the
Department to use loan guarantees to stimulate the
commercialization of solar technologies. Twc basic issues need
to le dealt with: the relationship of Title IX to existing
legislatio and the quc3tion of whet!er loan guarant-es are the
most effective and appropriate Federal financial inceatives for
furthering the commercialization of solar technologies. (ERS)](ViewImageLocal?handle=hein.gao/gaobaaxft0001&div=1&collection=&method=preview&ext=.png&size=3)