U.S. Congress - H.R.271 To direct the Secretary of Agriculture to establish a program to provide covered instit...
H.R.271 - To direct the Secretary of Agriculture to establish a program to provide covered institutions loans for conversion to use of biomass for energy generation.
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- Official: To direct the Secretary of Agriculture to establish a program to provide covered institutions loans for conversion to use of biomass for energy generation. as introduced.
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Official Summary
1/12/2011--Introduced.Requires the Secretary of Agriculture to: (1) establish a program to provide zero-interest loans to covered institutions (i.e., an institution of higher education, an elementary or secondary school, or a hospital) for capital costs for converting to the use of biomassOfficial Summary
1/12/2011--Introduced.Requires the Secretary of Agriculture to:(1) establish a program to provide zero-interest loans to covered institutions (i.e., an institution of higher education, an elementary or secondary school, or a hospital) for capital costs for converting to the use of biomass for energy generation; and
(2) ensure that an institution receiving such a loan will use woody biomass for not less than 75% of the energy generation resulting from such conversion. Establishes in the Treasury a revolving fund for such program. Requires the Secretary to:
(1) deposit amounts received as payment on loans provided under such program into such revolving fund; and
(2) make available $100 million of the funds of the Commodity Credit Corporation to such revolving fund.
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