42 U.S. Code § 18792

Energy efficiency revolving loan fund capitalization grant program

42 U.S. Code § 18792. Energy efficiency revolving loan fund capitalization grant program

(a) In general
Not later than 1 year after November 15, 2021, under the State Energy Program, the Secretary shall establish a program under which the Secretary shall provide capitalization grants to States to establish a revolving loan fund under which the State shall provide loans and grants, as applicable, in accordance with this section.
(b) Distribution of funds
(1) All States
(A) In general
Of the amounts made available under subsection (j), the Secretary shall use 40 percent to provide capitalization grants to States that are eligible for funding under the State Energy Program, in accordance with the allocation formula established under section 420.11 of title 10, Code of Federal Regulations (or successor regulations).
(B) Remaining funding
After applying the allocation formula described in subparagraph (A), the Secretary shall redistribute any unclaimed funds to the remaining States seeking capitalization grants under that subparagraph.
(2) Priority States
(A) In general
Of the amounts made available under subsection (j), the Secretary shall use 60 percent to provide supplemental capitalization grants to priority States in accordance with an allocation formula determined by the Secretary.
(B) Remaining funding
After applying the allocation formula described in subparagraph (A), the Secretary shall redistribute any unclaimed funds to the remaining priority States seeking supplemental capitalization grants under that subparagraph.
(C) Grant amount
(i) Maximum amount
The amount of a supplemental capitalization grant provided to a State under this paragraph shall not exceed $15,000,000.
(ii) Supplement not supplant
A supplemental capitalization grant received by a State under this paragraph shall supplement, not supplant, a capitalization grant received by that State under paragraph (1).
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