HB5092: Energy Accountability Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend title XVII of the Energy Policy Act of 2005 to specify that the Secretary of Energy may not make a loan guarantee under such title for a project if the applicable borrower has previously defaulted on an obligation guaranteed under such title, and for other purposes.
Plain-language summary
This bill would change rules for federal loan guarantees for energy projects under the Energy Policy Act of 2005. It would prevent the Secretary of Energy from guaranteeing new loans for any company that has previously defaulted on an earlier federally guaranteed energy loan. The bill is designed to reduce the government's financial risk when lending money to energy companies. It was introduced by Representative Tim Walberg and is currently in the early stages of the legislative process.
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HB5092: Energy Accountability Act