42 U.S.C. § 16374 — Future growth grants

FEDERAL · 42 U.S.C. · Chapter 149

Future growth grants

Current through Pub. L. 119-102

Title 42 — The Public Health and Welfare·Ch. 149 — NATIONAL ENERGY POLICY AND PROGRAMS·Subch. IX·Pt. J

(a)Establishment The Secretary may provide grants to pay a portion of the cost differential, with respect to any projected future increase in demand for carbon dioxide transportation by an infrastructure project described in subsection (b), between—

(1)the cost of constructing the infrastructure asset with the capacity to transport an increased flow rate of carbon dioxide, as made practicable under the project; and

(2)the cost of constructing the infrastructure asset with the capacity to transport carbon dioxide at the flow rate initially required, based on commitments for the use of the asset.

(b)Eligibility To be eligible to receive a grant under this section, an entity shall—

(1)be eligible to receive credit assistance under the CIFIA program;

(2)carry out, or propose to carry out

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Establishment
The Secretary may provide grants to pay a portion of the cost differential, with respect to any projected future increase in demand for carbon dioxide transportation by an infrastructure project described in subsection (b), between—
(1) the cost of constructing the infrastructure asset with the capacity to transport an increased flow rate of carbon dioxide, as made practicable under the project; and
(2) the cost of constructing the infrastructure asset with the capacity to transport carbon dioxide at the flow rate initially required, based on commitments for the use of the asset.
(b) Eligibility
To be eligible to receive a grant under this section, an entity shall—
(1) be eligible to receive credit assistance under the CIFIA program;
(2) carry out, or propose to carry out, a project for large-capacity, common carrier infrastructure with a probable future increase in demand for carbon dioxide transportation; and
(3) submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be appropriate.
(c) Use of funds
A grant provided under this section may be used only to pay the costs of any additional flow rate capacity of a carbon dioxide transportation infrastructure asset that the project sponsor demonstrates to the satisfaction of the Secretary can reasonably be expected to be used during the 20-year period beginning on the date of substantial completion of the project described in subsection (b)(2).
(d) Maximum amount
The amount of a grant provided under this section may not exceed an amount equal to 80 percent of the cost of the additional capacity described in subsection (a).

42 U.S.C. § 16374 (Future growth grants) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 109–58, title IX, §999D, as added Pub. L. 117–58, div. D, title III, §40304(a), Nov. 15, 2021, 135 Stat. 998.)

Editorial Notes

Editorial Notes

Prior Provisions
A prior section 16374, Pub. L. 109–58, title IX, §999D, Aug. 8, 2005, 119 Stat. 922, related to the Ultra-Deepwater Advisory Committee and Unconventional Resources Technology Advisory Committee, prior to repeal by Pub. L. 113–67, div. A, title III, §301(a), Dec. 26, 2013, 127 Stat. 1181.

Statutory Notes and Related Subsidiaries

Wage Rate Requirements
For provisions relating to rates of wages to be paid to laborers and mechanics on projects for construction, alteration, or repair work funded under div. D or an amendment by div. D of Pub. L. 117–58, including authority of Secretary of Labor, see section 18851 of this title.