View all text of Subchapter III [§ 1531 - § 1531]
§ 1531. Feasibility study loan program
(a) Authorization; purposes
(b) Maximum amount of loan for costs of administration; cancellation of unpaid balance and accrued interest
(1) In providing assistance under the program established pursuant to subsection (a), the Secretary is authorized to make a loan to any person to defray up to 90 per centum of the costs of (A) studies to determine the feasibility of any geothermal development described in such subsection, 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 balance 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 construction
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 construction of such system or systems have been or will be issued,
(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
(e) Funding; deposit of amount repaid
(f) Authorization of appropriations
(g) “Person” defined
(Pub. L. 96–294, title VI, § 631, June 30, 1980, 94 Stat. 767.)