94 STAT. 694
Byproducts.
Loan repayments.
Application for financial assistance.
Reports; recordkeeping requirements.
PUBLIC LAW 96-294—JUNE 30, 1980 (A) finds that necessary feedstocks are available and it is reasonable to expect they will continue to be available in the future, and, for biomass energy projects using wood or wood wastes or residues from the National Forest System, there shall be taken into account current levels of use by then existing facilities; (B) has obtained assurance that the person receiving such financial assistance will bear a reasonable degree of risk in the construction and operation of the project; and (C) has determined that the amount of financial assistance provided for the project is not greater than is necessary to achieve the purposes of this title. (5) In providing financial assistance under this subtitle, the Secretary concerned shall give due consideration to promoting competition. (6) In determining the amount of financial assistance for any biomass energy project which will yield byproducts in addition to biomass energy, the Secretary shall consider the potential value of such byproducts and the costs attributable to their production. (b) An insured loan may not be made, and a loan guarantee may not be issued, under this subtitle unless the Secretary concerned determines that the terms, conditions, maturity, security, and schedule and amounts of repayments with respect to such loan are reasonable and meet such standards as the Secretary determines are sufficient to protect the financial interests of the United States. (c)(l) No financial assistance may be provided to any person under this subtitle unless an application therefor— (A) has been submitted to the Secretary concerned by that person in such form and under such procedures as the Secretary shall prescribe, consistent with the requirements of this subtitle, and (B) has been approved by the Secretary in accordance with such procedures. (2) Each such application shall include information regarding the construction costs of the biomass energy project involved, and estimates of operating costs and income relating to that project (including the sale of any byproducts from that project). In addition, each applicant shall provide— (A) access at reasonable times to such other information, and (B) such assurances, as the Secretary concerned may require. (d)(1) Every recipient of financial assistance under this subtitle shall, as a condition precedent thereto, consent to such examinations and reports regarding the biomass energy project involved as the Secretary concerned may require. (2) With respect to each biomass energy project for which financial assistance is provided under this subtitle, the Secretary shall— (A) require from the recipient of financial assistance such reports and records relating to that project as the Secretary deems necessary; (B) prescribe the manner in which such recipient shall keep such records; and (C) have access to such records at reasonable times for the purpose of ensuring compliance with the terms and conditions upon which financial assistance is provided.
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