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15 U.S.C. § 720n — Loan guarantees
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority**
(1) The Secretary may enter into agreements with 1 or more holders of a certificate of public convenience and necessity issued under [section 720a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section720a/b&num=0&edition=prelim) or [section 719g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section719g&num=0&edition=prelim) or with an entity the Secretary determines is qualified to construct and operate a liquefied natural gas project to transport liquefied natural gas from Southcentral Alaska, to issue Federal guarantee instruments with respect to loans and other debt obligations for a qualified infrastructure project.
(2) Subject to the requirements of this section, the Secretary may also enter into agreements with 1 or more owners of the Canadian portion of a qualified infrastructure project to issue Federal guarantee instruments with respect to loans and other debt obligations for a qualified infrastructure project as though such owner were a holder described in paragraph (1).
(3) The authority of the Secretary to issue Federal guarantee instruments under this section for a qualified infrastructure project shall expire on the date that is 2 years after the date on which the final certificate of public convenience and necessity (including any Canadian certificates of public convenience and necessity) is issued for the project. A final certificate shall be considered to have been issued when all certificates of public convenience and necessity have been issued that are required for the initial transportation of commercially economic quantities of natural gas from Alaska.
**(b) Conditions**
(1) The Secretary may issue a Federal guarantee instrument for a qualified infr
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Source file: Laws/federal/codes/united-states-code/title-15/section-720n-loan-guarantees--854296f3ec.md
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Source location: Title 15, Chapter 15D, § 720n; chapter-15d-alaska-natural-gas-pipeline.md
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**(a) Authority**
(1) The Secretary may enter into agreements with 1 or more holders of a certificate of public convenience and necessity issued under [section 720a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section720a/b&num=0&edition=prelim) or [section 719g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section719g&num=0&edition=prelim) or with an entity the Secretary determines is qualified to construct and operate a liquefied natural gas project to transport liquefied natural gas from Southcentral Alaska, to issue Federal guarantee instruments with respect to loans and other debt obligations for a qualified infrastructure project.
(2) Subject to the requirements of this section, the Secretary may also enter into agreements with 1 or more owners of the Canadian portion of a qualified infrastructure project to issue Federal guarantee instruments with respect to loans and other debt obligations for a qualified infrastructure project as though such owner were a holder described in paragraph (1).
(3) The authority of the Secretary to issue Federal guarantee instruments under this section for a qualified infrastructure project shall expire on the date that is 2 years after the date on which the final certificate of public convenience and necessity (including any Canadian certificates of public convenience and necessity) is issued for the project. A final certificate shall be considered to have been issued when all certificates of public convenience and necessity have been issued that are required for the initial transportation of commercially economic quantities of natural gas from Alaska.
**(b) Conditions**
(1) The Secretary may issue a Federal guarantee instrument for a qualified infrastructure project only after a certificate of public convenience and necessity under [section 720a(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section720a/b&num=0&edition=prelim) or an amended certificate under [section 719g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section719g&num=0&edition=prelim) has been issued for the project, or after the Secretary certifies there exists a qualified entity to construct and operate a liquefied natural gas project to transport liquefied natural gas from Southcentral Alaska. In no case shall loan guarantees be issued for more than one qualified project.
(2) The Secretary may issue a Federal guarantee instrument under this section for a qualified infrastructure project only if the loan or other debt obligation guaranteed by the instrument has been issued by an eligible lender.
(3) The Secretary shall not require as a condition of issuing a Federal guarantee instrument under this section any contractual commitment or other form of credit support of the sponsors (other than equity contribution commitments and completion guarantees), or any throughput or other guarantee from prospective shippers greater than such guarantees as shall be required by the project owners.
(4) Such loan guarantee may be utilized only by the project chosen by the Federal Energy Regulatory Commission as the qualified project.
**(c) Limitations on amounts**
(1) The amount of loans and other debt obligations guaranteed under this section for a qualified infrastructure project shall not exceed 80 percent of the total capital costs of the project, including interest during construction.
(2) The principal amount of loans and other debt obligations guaranteed under this section shall not exceed, in the aggregate, $18,000,000,000, which amount shall be indexed for United States dollar inflation from October 13, 2004, as measured by the Consumer Price Index, except that the total amount of principal that may be guaranteed for a qualified liquefied natural gas project may not exceed a principal amount in which the cost of loan guarantees, as defined by [section 661a(5) of title 2](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5&num=0&edition=prelim), exceeds $2,000,000,000.
**(d) Loan terms and fees**
(1) The Secretary may issue Federal guarantee instruments under this section that take into account repayment profiles and grace periods justified by project cash flows and project-specific considerations. The term of any loan guaranteed under this section shall not exceed 30 years.
(2) An eligible lender may assess and collect from the borrower such other fees and costs associated with the application and origination of the loan or other debt obligation as are reasonable and customary for a project finance transaction in the oil and gas sector.
**(e) Regulations** The Secretary may issue regulations to carry out this section.
**(f) Authorization of appropriations** There are authorized to be appropriated such sums as may be necessary to cover the cost of loan guarantees under this section, as defined by [section 661a(5) of title 2](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5&num=0&edition=prelim). Such sums shall remain available until expended.
**(g) Definitions** In this section:
(1) **Consumer Price Index** — The term “Consumer Price Index” means the Consumer Price Index for all-urban consumers, United States city average, as published by the Bureau of Labor Statistics, or if such index shall cease to be published, any successor index or reasonable substitute thereof.
(2) **Eligible lender** — The term “eligible lender” means any non-Federal qualified institutional buyer (as defined by section 230.144A(a) of title 17, Code of Federal Regulations (or any successor regulation), known as Rule 144A(a) of the Securities and Exchange Commission and issued under the Securities Act of 1933 [[15 U.S.C. 77a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section77a&num=0&edition=prelim) et seq.]), including—
(A) a qualified retirement plan (as defined in [section 4974(c) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section4974/c&num=0&edition=prelim)) that is a qualified institutional buyer; and
(B) a governmental plan (as defined in [section 414(d) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section414/d&num=0&edition=prelim)) that is a qualified institutional buyer.
(3) **Federal guarantee instrument** — The term “Federal guarantee instrument” means any guarantee or other pledge by the Secretary to pledge the full faith and credit of the United States to pay all of the principal and interest on any loan or other debt obligation entered into by a holder of a certificate of public convenience and necessity.
(4) **Qualified infrastructure project** — The term “qualified infrastructure project” means an Alaskan natural gas transportation project or system consisting of the design, engineering, finance, construction, and completion of pipelines and related transportation and production systems (including gas treatment plants, liquification plants, and liquefied natural gas tankers for transportation of liquefied natural gas from southcentral Alaska), and appurtenances thereto, that are used to transport natural gas from the Alaska North Slope.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Earliest practicable date for issuance or grant of authorizations** To the extent that the taking of any action which is necessary or related to the construction and initial operation of the approved transportation system requires a certificate, right-of-way, permit, lease, or other authorization to be issued or granted by a Federal officer or agency, such Federal officer or agency shall—
(1) to the fullest extent permitted by the provisions of law administered by such officer or agency, but
(2) without regard to any provision of law which is waived pursuant to [section 719f(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section719f/g&num=0&edition=prelim) issue or grant such certificates, permits, rights-of-way, leases, and other authorizations at the earliest practicable date.
**(b) Expedition and precedence of actions on applications or requests** All actions of a Federal officer or agency with respect to consideration of applications or requests for the issuance or grant of a certificate, right-of-way, permit, lease, or other authorization to which subsection (a) applies shall be expedited and any such application or request shall take precedence over any similar applications or requests of the Federal officer or agency.
**(c) Required terms and conditions** Any certificate, right-of-way, permit, lease, or other authorization issued or granted pursuant to the direction under subsection (a) shall include the terms and conditions required by law unless waived pursuant to a resolution under [section 719f(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section719f/g&num=0&edition=prelim), and may include terms and conditions permitted by law, except that with respect to terms and co
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Additional services** — The term “additional services” means the provision of supplementary power, backup or standby power, maintenance power, or interruptible power to an electric consumer by an electric utility.
(2) **Waste heat to power system** — The term “waste heat to power system” means a system that generates electricity through the recovery of waste energy.
(3) **Other terms**
(A) *Purpa* — The terms “electric consumer”, “electric utility”, “interconnection service”, “nonregulated electric utility”, and “State regulatory authority” have the meanings given those terms in the Public Utility Regulatory Policies Act of 1978 ([16 U.S.C. 2601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section2601&num=0&edition=prelim) et seq.), within the meaning of title I of that Act ([16 U.S.C. 2611](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section2611&num=0&edition=prelim) et seq.).
(B) *EPCA* — The terms “combined heat and power system” and “waste energy” have the meanings given those terms in [section 6341 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section6341&num=0&edition=prelim).
**(b) Review**
(1) **In general** — Not later than 180 days after November 15, 2021, the Secretary, in consultation with the Federal Energy Regulatory Commission and other appropriate entities, shall review existing rules and procedures relating to interconnection service and additional services throughout the United States for electric generation with nameplate capacity up to 150 megawatts connecting at either distribution or transmission voltage levels to identify barriers to the deployment of combined heat and power systems and waste heat to power s
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Federal law — U.S. Code and appendices · legal_authorities
This subchapter may be cited as the “Securities Act of 1933”.
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Federal law — U.S. Code and appendices · legal_authorities
Page 1228
TITLE 15—COMMERCE AND TRADE
§ 720l
(1) the Governor of the State of Alaska re-
quests the grant funds and certifies in writing
to the Secretary that there is a reasonable ex-
pectation that the construction of the Alaska
natural gas pipeline system will commence by
the date that is 2 years after the date of the
certification; and
(2) the Secretary of Energy concurs in writ-
ing to the Secretary with the certification
made under paragraph (1) after considering—
(A) the status of necessary Federal and
State permits;
(B) the availability of financing for the
Alaska natural gas pipeline project; and
(C) other relevant factors.
(c) Authorization of appropriations
There are authorized to be appropriated to the
Secretary to carry out this section $20,000,000.
Not more than 15 percent of the funds may be
used for the facility described in subsection
(a)(1)(B).
(Pub. L. 108–324, div. C, § 113, Oct. 13, 2004, 118
Stat. 1264; Pub. L. 113–128, title V, § 512(c), July
22, 2014, 128 Stat. 1706.)
Editorial Notes
AMENDMENTS
2014—Subsec. (a)(2). Pub. L. 113–128 substituted ‘‘con-
sistent with the vision and goals set forth in the State
of Alaska unified plan or combined plan, as appro-
priate, as developed pursuant to section 3112 or 3113, as
appropriate, of title 29’’ for ‘‘consistent with the vision
and goals set forth in the State of Alaska Unified Plan,
as developed pursuant to the Workforce Investment Act
of 1998 (29 U.S.C. 2801 et seq.)’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2014 AMENDMENT
Amendment by Pub. L. 113–128 effective on the first
day of the first full program year after July 22, 2014
(July 1, 2015), see section 506 of Pub. L. 113–128, set out
as an Effective Date note under section 3101 of Title 29,
Labor
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Federal law — U.S. Code and appendices · legal_authorities
Page 119
TITLE 15—COMMERCE AND TRADE
§ 77b
7025, set out as a note under section 301 of Title 3, The
President.
CHAPTER 2A—SECURITIES AND TRUST
INDENTURES
SUBCHAPTER I—DOMESTIC SECURITIES
Sec.
77a.
Short title.
77b.
Definitions; promotion of efficiency, competi-
tion, and capital formation.
77b–1.
Swap agreements.
77c.
Classes of securities under this subchapter.
77d.
Exempted transactions.
77d–1.
Requirements with respect to certain small
transactions.
77e.
Prohibitions relating to interstate commerce
and the mails.
77f.
Registration of securities.
77g.
Information required in registration state-
ment.
77h.
Taking effect of registration statements and
amendments thereto.
77h–1.
Cease-and-desist proceedings.
77i.
Court review of orders.
77j.
Information required in prospectus.
77k.
Civil liabilities on account of false registra-
tion statement.
77l.
Civil liabilities arising in connection with
prospectuses and communications.
77m.
Limitation of actions.
77n.
Contrary stipulations void.
77o.
Liability of controlling persons.
77p.
Additional remedies; limitation on remedies.
77q.
Fraudulent interstate transactions.
77r.
Exemption from State regulation of securi-
ties offerings.
77r–1.
Preemption of State law.
77s.
Special powers of Commission.
77t.
Injunctions and prosecution of offenses.
77u.
Hearings by Commission.
77v.
Jurisdiction of offenses and suits.
77w.
Unlawful representations.
77x.
Penalties.
77y.
Jurisdiction of other Government agencies
over securities.
77z.
Separability.
77z–1.
Private securities litigation.
77z–2.
Application of safe harbor for forward-look-
ing statements.
77z–2a.
Conflicts of interest relating to certain
securitizations.
77z–3.
General exemptive authority.
77z
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