View all text of Part 1 [§ 18715 - § 18715b]
§ 18715. Transmission facility financing
(a) Appropriation
(b) Use of funds
(c) LoansA direct loan provided under this section—
(1) shall have a term that does not exceed the lesser of—
(A) 90 percent of the projected useful life, in years, of the eligible transmission facility; and
(B) 30 years;
(2) shall not exceed 80 percent of the project costs; and
(3) shall, on first issuance, be subject to the condition that the direct loan is not subordinate to other financing.
(d) Interest rates
(e) Definition of direct loan
(Pub. L. 117–169, title V, § 50151, Aug. 16, 2022, 136 Stat. 2046.)