30 U.S.C. § 1531 — Feasibility study loan program

Page 344 TITLE 30—MINERAL LANDS AND MINING § 1531 (f) Certificate of insurance; issuance, etc. The Secretary, within ninety days after mak- ing and submitting the determinations under subsection (e), and upon agreement of the appli- cant to such determinations, shall issue a cer- tificate of insurance containing such terms and conditions as the Secretary shall specify, which shall not be transferrable without the express approval of the Secretary for good cause shown, and shall execute a contract with the applicant setting forth the terms and conditions of the in- vestment insurance and such other provisions as may be necessary to protect the interests of the United States, including provisions with respect to the ownership, use, and disposition of any currency, credits, assets, or investments on ac- count of which payment under such insurance is to be made and any right, title, claim, or course of action existing in relation thereto. (g) Compensation payable to holder of certificate of insurance; amount, etc. Any holder of a certificate of insurance pursu- ant to subsection (f) who claims a loss of value of his investment by reason of the specified risk shall receive compensation, to the extent the Secretary determines that the holder is eligible to receive compensation pursuant to the certifi- cate and the contract, in the amount of the loss incurred by the holder which is subject to insur- ance and for which the holder has not received and will not receive compensation from other insurance. (h) Withdrawal and payment of compensation Any compensation received by the holder shall be withdrawn from the Geothermal Resources Development Fund. The full faith and credit of the United States is hereby pledged to the pay- ment of any compensation under this section. (i) Denial of insurance A person shall not be denied insurance pursu- ant to this section solely because such person is the recipient of other Federal assistance under this or any other Act. (j) Appropriations There may be appropriated to the Geothermal Resources Development Fund (established pur- suant to section 11441 of this title), for purposes of this section, such amounts as are authorized for such purposes in the law referred to in sub- section (a) or in other legislation hereafter en- acted. (k) Reinsurance agreements; procedures applica- ble; criteria; report to Congress The Secretary may enter into agreements to reinsure any private insurer for any risk associ- ated with insurance for the development and utilization of a geothermal resource and associ- ated reservoir, using the procedures set forth in subsections (c) through (i), to the extent that he deems it appropriate in order to provide an in- centive for the participation of the private in- surance industry in geothermal development; and he may also use any other available author- ity to obtain such participation. The Secretary shall submit a report to the Congress, within one year after the enactment of the law referred to in subsection (a), on the need for any addi- tional authority to obtain such participation. (Pub. L. 96–294, title VI, § 622, June 30, 1980, 94 Stat. 765.) Editorial Notes REFERENCES IN TEXT Section 27A of the Merchant Marine Act, 1920, re- ferred to in subsec. (b)(7), is section 27A of act June 5, 1920, ch. 250, as added Pub. L. 85–902, Sept. 2, 1958, 72 Stat. 1736, which was classified to section 883–1 of the former Appendix to Title 46, Shipping, and was repealed and restated in section 12118 of Title 46, Shipping, by Pub. L. 109–304, §§ 5, 19, Oct. 6, 2006, 120 Stat. 1491, 1710. This Act, referred to in subsec. (i), is Pub. L. 96–294, June 30, 1980, 94 Stat. 611, known as the Energy Secu- rity Act. For complete classification of this Act to the Code, see Short Title note set out under section 8801 of Title 42, The Public Health and Welfare, and Tables. Section 1144 of this title, referred to in subsec. (j), was repealed by Pub. L. 116–260, div. Z, title III, § 3002(i)(3), Dec. 27, 2020, 134 Stat. 2495. CODIFICATION In subsec. (b)(7), ‘‘section 50501 of title 46’’ substituted for ‘‘section 2(a)–(c) of the Shipping Act, 1916 (46 U.S.C. 802)’’ on authority of Pub. L. 109–304, § 18(c), Oct. 6, 2006, 120 Stat. 1709, which Act enacted section 50501 of Title 46, Shipping. SUBCHAPTER III—ESTABLISHMENT OF ASSISTANCE PROGRAM § 1531. Feasibility study loan program (a) Authorization; purposes The Secretary is authorized and directed to es- tablish a program of assistance for the acceler- ated development of geothermal resources for nonelectric applications by geothermal utility districts, geothermal industrial development districts, and other persons. (b) Maximum amount of loan for costs of admin- istration; cancellation of unpaid balance and accrued interest (1) In providing assistance under the program established pursuant to subsection (a), the Sec- retary is authorized to make a loan to any per- son to defray up to 90 per centum of the costs of (A) studies to determine the feasibility of any geothermal development described in such sub- section, and (B) preparing applications for any necessary licenses or other Federal, State, and local approvals respecting such development. (2) The Secretary may cancel the unpaid bal- ance and any accrued interest on any loan granted for a study pursuant to clause (A) of paragraph (1) if he determines, on the basis of the study, that the geothermal development is not technically or economically feasible. (c) Maximum amount of loan for costs of con- struction In providing assistance under such program, the Secretary is also authorized to make a loan to any person to defray up to 75 per centum of the costs directly related to the construction of a system or systems for nonelectric geothermal development pursuant to such subsection, where the Secretary finds that— (1) all necessary licenses and other required Federal, State, and local approvals for con- struction of such system or systems have been or will be issued, Page 345 TITLE 30—MINERAL LANDS AND MINING § 1601 1 So in original. Should be ‘‘(42 U.S.C. 1962d–17(a)).’’ 2 See References in Text note below. (2) the project involved will comply with all applicable laws relating to protection of the environment, and (3) the applicant requires such assistance to undertake and complete the project. (d) Interest rate; term Each loan made pursuant to this section shall bear interest at a discount or interest rate equal to the rate in effect (at the time the loan is made) for water resources planning projects under section 80 of the Water Resources Devel- opment Act of 1974 (42 U.S.C. 1962(d)–17(a)).1 Each loan shall be for such term as the Sec- retary deems appropriate, but not in excess of ten years for loans under subsection (b) or thirty years for loans under subsection (c). (e) Funding; deposit of amount repaid Loans pursuant to this section shall be made from funds appropriated (pursuant to this sub- chapter) to the Geothermal Resources Develop- ment Fund established under section 1144 2 of this title; and amounts repaid on such loans shall be deposited in the Geothermal Resources Development Fund for purposes of this sub- chapter. (f) Authorization of appropriations For loans under clause (A) of subsection (b)(1) for fiscal year 1981, there is authorized to be ap- propriated to the Geothermal Resources Devel- opment Fund not to exceed $5,000,000, which shall remain available until expended. For loans under such clause (A) for subsequent fiscal years, and for loans under clause (B) of sub- section (b)(1) or under subsection (c) (for any such subsequent fiscal year), there may be ap- propriated to such Fund only such sums as are authorized by legislation hereafter enacted. (g) ‘‘Person’’ defined As used in this section, the term ‘‘person’’ in- cludes municipalities, cooperatives, industrial development agencies, nonprofit organizations, and Indian tribes, as well as the districts re- ferred to in subsection (a) and the other entities included within such term under section 1 of title 1. (Pub. L. 96–294, title VI, § 631, June 30, 1980, 94 Stat. 767.) Editorial Notes REFERENCES IN TEXT Section 1144 of this title, referred to in subsec. (e), was repealed by Pub. L. 116–260, div. Z, title III, § 3002(i)(3), Dec. 27, 2020, 134 Stat. 2495. SUBCHAPTER IV—FEDERAL FACILITIES § 1541. Use of geothermal energy in Federal fa- cilities The option of using geothermal energy or geo- thermal energy resources shall be considered fully in any new Federal building, facility, or in- stallation which is located in a geothermal re- source area as designated by the Secretary. (Pub. L. 96–294, title VI, § 642, June 30, 1980, 94 Stat. 769.) § 1542. Regulations All regulations made with respect to this sub- chapter shall be promulgated no later than six months after June 30, 1980. (Pub. L. 96–294, title VI, § 644, June 30, 1980, 94 Stat. 770.) Editorial Notes REFERENCES IN TEXT This subchapter, referred to in text, was in the origi- nal ‘‘this subtitle’’, meaning subtitle D of title VI of Pub. L. 96–294, June 30, 1980, 94 Stat. 768, which enacted this subchapter and former sections 1146 and 1147 of this title and amended former sections 1141 and 1143 of this title and sections 796, 824a–3, 824i, and 824j of Title 16, Conservation. CHAPTER 28—MATERIALS AND MINERALS POLICY, RESEARCH, AND DEVELOPMENT Sec. 1601. Congressional statement of findings; ‘‘mate- rials’’ defined. 1602. Congressional declaration of policies. 1603. Implementation of policies. 1604. Program administration. 1605. Applicability to other statutory national mining and minerals policies. 1606. Mineral security. 1607. Critical minerals supply chains and reli- ability. § 1601. Congressional statement of findings; ‘‘ma- terials’’ defined (a) The Congress finds that— (1) the availability of materials is essential for national security, economic well-being, and industrial production; (2) the availability of materials is affected by the stability of foreign sources of essential industrial materials, instability of materials markets, international competition and de- mand for materials, the need for energy and materials conservation, and the enhancement of environmental quality; (3) extraction, production, processing, use, recycling, and disposal of materials are closely linked with national concerns for energy and the environment; (4) the United States is strongly inter- dependent with other nations through inter- national trade in materials and other prod- ucts; (5) technological innovation and research and development are important factors which contribute to the availability and use of mate- rials; (6) the United States lacks a coherent na- tional materials policy and a coordinated pro- gram to assure the availability of materials critical for national economic well-being, na- tional defense, and industrial production, in- cluding interstate commerce and foreign trade; and (7) notwithstanding the enactment of sec- tion 21a of this title, the United States does not have a coherent national materials and minerals policy. (b) DEFINITIONS.—In this chapter: (1) CRITICAL MINERAL.—The term ‘‘critical mineral’’ means any mineral, element, sub-