Federal Energy Efficiency Bank Establishment Act - Establishes in the Treasury the Federal Facilities Energy Efficiency Bank to fund a program of loans to Federal agencies for energy efficiency projects. Authorizes appropriations.
HR 4422 IH 102d CONGRESS 2d Session H. R. 4422 To establish a Federal Facilities Energy Efficiency Bank to improve energy efficiency in federally owned and leased facilities, and for other purposes. IN THE HOUSE OF REPRESENTATIVES March 10, 1992 Mr. SYNAR (for himself, Mr. MOODY, Mr. KLECZKA, Mr. ASPIN, Mr. PETRI, and Mr. GUNDERSON) introduced the following bill; which was referred jointly to the Committees on Energy and Commerce and Government Operations A BILL To establish a Federal Facilities Energy Efficiency Bank to improve energy efficiency in federally owned and leased facilities, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the `Federal Energy Efficiency Bank Establishment Act'. SEC. 2. FINDINGS AND PURPOSE. (a) FINDINGS- Congress finds that-- (1) energy conservation is a cornerstone of national energy security policy; (2) the Federal Government is the largest consumer of energy in the economy of the United States; (3) numerous opportunities exist for significant energy cost savings within the Federal Government; (4) on April 17, 1991, the President signed Executive Order No. 12759 which mandated energy savings by Federal agencies; and (5) to achieve the energy savings required by the Executive Order the Federal Government must make significant investments in energy savings systems and products, including energy management control systems. (b) PURPOSE- The purpose of this Act is to promote energy conservation investments in Federal facilities. SEC. 3. DEFINITIONS. As used in this Act: (1) AGENCY- The term `agency' means-- (A) an executive agency as defined under section 105 of title 5, United States Code; (B) the United States Postal Service; and (C) any agency of the judicial branch of Government. (2) BANK- The term `Bank' means the Federal Facilities Energy Efficiency Bank established in section 4. (3) SECRETARY- The term `Secretary' means the Secretary of Energy, unless otherwise provided. (4) TOTAL UTILITY PAYMENTS- The term `total utility payments' means payments made for electricity and natural gas. SEC. 4. ESTABLISHMENT OF BANK. (a) IN GENERAL- There is established in the Treasury of the United States a trust fund, to be known as the Federal Facilities Energy Efficiency Bank, consisting of-- (1) such amounts as are transferred to the Bank under subsection (b); and (2) any interest earned on investment of amounts in the Bank under subsection (c). (b) TRANSFERS TO BANK- (1) IN GENERAL- In fiscal year 1993 and in each subsequent fiscal year, each agency shall transfer to the Secretary of the Treasury for deposit into the Bank an amount equal to the percentage determined in accordance with paragraph (2) multiplied by the total utility payments paid by the agency in the preceding fiscal year (including amounts included in agency rental payments that reimburse landlords for utility costs). (2) PERCENTAGE- (A) DETERMINATION- Subject to subparagraph (B), the percentage referred to in subparagraph (A) shall be determined by the President, in consultation with the Secretary and the Secretary of the Treasury. (B) MINIMUM TOTAL DEPOSITS- The total aggregate amount deposited into the Bank shall be sufficient to provide for the capitalization, over a period to be determined by the President in consultation with the Secretary and the Secretary of the Treasury (except that the period shall not exceed 5 years) of a revolving fund capable of financing energy efficiency projects totaling at least $200 million annually beginning the 6th year after the date of enactment of this Act. (3) REPAYMENTS- (A) IN GENERAL- An agency shall repay to the Bank the principal amount of the energy efficiency project loan plus interest determined in accordance with subparagraph (B). (B) INTEREST- Interest on a loan shall-- (i) be at a rate determined by the President in consultation with the Secretary and the Secretary of the Treasury; and (ii) accrue upon transfer of the loan amount to the agency. (C) SOURCE OF REPAYMENT FUNDS- The agency shall repay the loan from appropriations to the agency for that purpose including the agency's appropriation for facility operations. Repayments from appropriations shall be without regard to fiscal year limitations. (c) INVESTMENT OF FUNDS- (1) IN GENERAL- The Secretary of the Treasury shall invest such portion of the Bank as is not, in the Secretary's judgment, required to meet current withdrawals. Investments may be made only in interest-bearing obligations of the United States. (2) ACQUISITION OF OBLIGATIONS- For the purpose of investments, obligations may be acquired-- (A) on original issue at the issue price; or (B) by purchase of outstanding obligations at the market price. (3) SALE OF OBLIGATIONS- Any obligation acquired by the Bank may be sold by the Secretary of the Treasury at the market price. (4) CREDITS TO BANK- (A) IN GENERAL- The interest on, and the proceeds from the sale or redemption of, any obligations held in the Bank shall be credited to and form a part of the Bank. (B) TRANSFERS BASED ON ESTIMATES- (i) IN GENERAL- The amounts required to be transferred to the Bank under subparagraph (A) shall be transferred at least monthly from the general fund of the Treasury to the Bank on the basis of estimates made by the Secretary of the Treasury. (ii) ADJUSTMENTS- Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred. SEC. 5. EXPENDITURES FROM BANK. (a) IN GENERAL- The Secretary of the Treasury shall transfer from the Bank to the Secretary such amounts as are appropriated to carry out the loan program under subsection (b). (b) LOAN PROGRAM- (1) IN GENERAL- In accordance with section 6, the Secretary shall establish a program to loan amounts from the Bank to any agency that submits an application satisfactory to the Secretary in order to finance energy efficiency projects that assist the agency in meeting or exceeding the energy efficiency goals set forth in-- (A) part 3 of title V of the National Energy Conservation Policy Act (42 U.S.C. 8251 et seq.); and (B) applicable Executive Orders, including Orders No. 12003 and 12579. (2) PURPOSES OF LOAN- A loan made pursuant to this section may be made for-- (A) energy efficiency project costs; and (B) administration and proposal development costs (including data collection and energy survey costs), except that the amount of the loan made for costs described in this subparagraph may not exceed 15 percent of the cost of the energy efficiency project. SEC. 6. SELECTION SCHEDULE AND CRITERIA. (a) SCHEDULE- The Secretary shall establish a schedule for the selection of energy efficiency projects to be awarded loans in accordance with subsection (b). (b) SELECTION CRITERIA- (1) THRESHOLD REQUIREMENTS- The Secretary may make loans only for energy efficiency projects that are-- (A) technically feasible; and (B) determined to be cost effective using the life cycle cost methods established by the Secretary by regulation. (2) OTHER CRITERIA- The Secretary shall establish criteria for the selection of energy efficiency projects, including-- (A) the cost effectiveness of the project; (B) the amount of projected energy and cost savings to the Federal Government; (C) the extent to which funds are leveraged from other sources to finance the project; and (D) other factors that the Secretary determines will result in the greatest energy and cost savings to the Federal Government. SEC. 7. REPORTING REQUIREMENTS. (a) NOTIFICATION TO SECRETARY- Not later than 1 year after the installation of each energy efficiency project, the agency shall notify the Secretary if the project fails to meet the energy savings projections. For each project that fails to meet the savings projections, the agency shall submit a report outlining the reasons for the failure and proposed remedies. (b) AUDITS- The Secretary may audit any energy efficiency project financed with funding from the Bank to assess the project's performance. (c) REPORTS TO CONGRESS- At the end of each fiscal year, the Secretary shall submit a report to Congress on the operations of the Bank, including a statement of the total receipts into the Bank, and the total expenditures from the Bank to each agency. SEC. 8. AUTHORIZATION OF APPROPRIATIONS. There are authorized to be appropriated such sums as are necessary to carry out this Act.
Introduced in House
Introduced in House
Referred to the House Committee on Government Operations.
Referred to the House Committee on Energy and Commerce.
Referred to the Subcommittee on Legislation and National Security.
Referred to the Subcommittee on Energy and Power.
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