H.R. 2208House110th Congress (2007-2009)In Committee

Coal Liquid Fuel Act

Introduced May 8, 2007

Legislative Activity

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4 earlier actions
HouseDischarge Latest Action

Motion to Discharge Committee filed by Mr. Roskam. Petition No: 110-12. (Discharge petition text with signatures.)

July 9, 2008

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HouseIntro Referral

Introduced in House

May 8, 2007

HouseIntro Referral

Referred to the Committee on Energy and Commerce, and in addition to the Committee on Science and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

May 8, 2007

HouseCommittee

Referred to the Subcommittee on Energy and Air Quality.

May 8, 2007

HouseCommittee

Referred to the Subcommittee on Energy and Environment.

May 15, 2007

HouseDischarge

Motion to Discharge Committee filed by Mr. Roskam. Petition No: 110-12. (Discharge petition text with signatures.)

July 9, 2008

Floor Debate

22 members

What members said about H.R. 2208 on the floor

14 Republicans8 Democrats
Lynn A. Westmoreland
Rep. Lynn A. WestmorelandR-GA-3 · Jul 8, 2008

Madam Speaker, Lord, I don't even know where to start. I've sat here for the last 45 minutes and listened to the Blue Dogs. And I appreciate them very much because there's about 40 or so of them, I…

Peter Welch
Rep. Peter WelchD-VT · Jul 9, 2008

Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 1318 and ask for its immediate consideration. Mr. Speaker, for the purpose of debate only, I yield the customary 30…

Peter J. Roskam
Rep. Peter J. RoskamR-IL-6 · Jul 17, 2008

Mr. Speaker, I have a motion to instruct at the desk. Mr. Speaker, in the interest of full disclosure, my side of the aisle is looking at every conceivable opportunity under the House rules and in…

Dennis A. Cardoza
Rep. Dennis A. CardozaD-CA-18 · Jul 10, 2008

Madam Speaker, by direction of the Committee on Rules, I call up House Resolution 1317 and ask for its immediate consideration. Madam Speaker, for the purpose of debate only, I yield the customary 30…

Carolyn B. Maloney
Rep. Carolyn B. MaloneyD-NY-14 · Jul 9, 2008

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 6184) to provide for a program for circulating quarter dollar coins that are emblematic of a national park or other national site in…

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Doc Hastings
Rep. Doc HastingsR-WA-4 · Jul 10, 2008

Madam Speaker, I want to thank my good friend from California (Mr. Cardoza) for yielding me the customary 30 minutes, and I yield myself as much time as I may consume. (Mr. HASTINGS of Washington…

Lincoln Diaz-Balart
Rep. Lincoln Diaz-BalartR-FL-21 · Jul 9, 2008

Mr. Speaker, I would like to thank my good friend, the gentleman from Vermont (Mr. Welch), for the time; and I yield myself such time as I may consume. During an interview last week, the…

Peter Hoekstra
Rep. Peter HoekstraR-MI-2 · Jul 16, 2008

Mr. Chairman, I ask unanimous consent to take the 5 minutes in opposition to the amendment, although I will not oppose the amendment. Mr. Chairman, I yield myself 1 minute. Mr. Chairman, I support…

Tom Price
Rep. Tom PriceR-GA-6 · Jul 9, 2008

I thank the gentleman for yielding, and I thank him for his leadership on this issue, the national parks quarter bill. We have in my district the Chattahoochee River National Recreation Area, which…

John Shimkus
Rep. John ShimkusR-IL-19 · Jul 8, 2008

I thank my colleague. Mr. Speaker, it's great to be on the floor tonight, coming back from a week's break, and I'm sure everybody is coming back with the number one issue on their mind, which is high…

Greg Walden
Rep. Greg WaldenR-OR-2 · Jul 9, 2008

Mr. Speaker, I want to thank my colleague from Delaware and congratulate him and our colleague from New York on this legislation and just advise the body that Oregon, once again, is in the lead when…

Phil Gingrey
Rep. Phil GingreyR-GA-11 · Jul 8, 2008

Mr. Speaker, I appreciate very much my good friend and colleague from Georgia yielding, and I appreciate his taking the time and leading the time tonight to continue to talk about what I consider and…

K. Michael Conaway
Rep. K. Michael ConawayR-TX-11 · Jul 8, 2008

I want to thank my friend. There was an interesting headline and a couple of sentences in today's Hill newspaper, one of the leading newspapers in all of Washington, DC, by the way. It says, ``The…

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Daniel E. Lungren
Rep. Daniel E. LungrenR-CA-3 · Jul 10, 2008

I appreciate the gentleman allowing me to get in the midst of this intramural squabble here on the Rules Committee. It seems like it was just the night before last that we came back to work…

Ed Perlmutter
Rep. Ed PerlmutterD-CO-7 · Jul 17, 2008

Mr. Speaker, I yield myself such time as I may consume. Well, I appreciate the comments of my friend from Illinois, who has assisted me on what we call the Green Energy Act in the Financial Services…

Michael N. Castle
Rep. Michael N. CastleR-DE · Jul 9, 2008

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 6184, the America's Beautiful National Parks Quarter Dollar Coin Act of 2008, which I am pleased to…

Peter J. Roskam
Rep. Peter J. RoskamR-IL-6 · Jul 8, 2008

I thank the gentleman for yielding. Thank you for the time. I am absolutely convinced, Mr. Speaker, that this is a pivotal time in our public life and it's a pivotal time that doesn't come along very…

John Shimkus
Rep. John ShimkusR-IL-19 · Jul 9, 2008

Mr. Speaker, I want to follow up with my colleague from Texas since we are talking about e-mails, and I, in essence, concur with him. The number one message we are getting back from our constituents…

Mark Kirk
Rep. Mark KirkR-IL-10 · Jul 16, 2008

Mr. Chairman, I have an amendment at the desk. Mr. Chairman, I yield myself such time as I may consume. Mr. Chairman, successful counterterror campaigns teach that to win, you must attack both…

Rob Bishop
Rep. Rob BishopR-UT-1 · Jul 10, 2008

Madam Speaker, I thank the gentleman from Washington for yielding. Bill Veeck was an old baseball owner and entrepreneur who used to say, ``I don't ever break the rules, I just test their…

Jane Harman
Rep. Jane HarmanD-CA-36 · Jul 16, 2008

Mr. Chairman, I offer an amendment. Mr. Chairman, I rise in support of the Harman-Ehlers amendment, and I'm pleased to be here on the House floor once again with my friend Vern Ehlers to call…

Barney Frank
Rep. Barney FrankD-MA-4 · Jul 17, 2008

Mr. Speaker, first, let me say that I think this is a very reasonable motion to instruct, and I urge all Members to vote for it. I do want to take a moment, since we are talking about the Native…

Maurice D. Hinchey
Rep. Maurice D. HincheyD-NY-22 · Jul 16, 2008

Mr. Chairman, I have an amendment at the desk. Mr. Chairman, I yield myself such time as I may consume. In 1976, amidst social unrest and a deep political crisis in Argentina, a military coup there…

Silvestre Reyes
Rep. Silvestre ReyesD-TX-16 · Jul 16, 2008

I thank the gentlelady for yielding. I just wanted to add my support to this amendment. This is a critical need that we depend on for our national security. And certainly this amendment highlights…

Bill Text

Latest available legislative text

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Introduced in HouseIssued May 8, 2007

I

110th CONGRESS

1st Session

H. R. 2208

IN THE HOUSE OF REPRESENTATIVES

May 8, 2007

Mr. Boucher (for himself, Mr. Shimkus, Mr. Matheson, Mr. Hastert, Mr. Doyle, Mr. Pickering, Mr. Hill, Mr. Upton, Mr. Ross, and Mr. Whitfield) introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committee on Science and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To provide for a standby loan program for certain coal-to-liquid projects.

1.

Short title

This Act may be cited as the Coal Liquid Fuel Act.

2.

Standby loans for qualifying coal-to-liquids projects

Section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512) is amended by adding at the end the following new subsection:

(k)

Standby Loans for Qualifying CTL Projects

(1)

Definitions

For purposes of this subsection:

(A)

Cap price

The term cap price means a market price specified in the standby loan agreement above which the project is required to make payments to the United States.

(B)

Full term

The term full term means the full term of a standby loan agreement, as specified in the agreement, which shall not exceed the lesser of 30 years or 90 percent of the projected useful life of the project (as determined by the Secretary).

(C)

Market price

The term market price means the average quarterly price of a petroleum price index specified in the standby loan agreement.

(D)

Minimum price

The term minimum price means a market price specified in the standby loan agreement below which the United States is obligated to make disbursements to the project.

(E)

Output

The term output means some or all of the liquid or gaseous transportation fuels produced from the project, as specified in the loan agreement.

(F)

Primary term

The term primary term means the initial term of a standby loan agreement, as specified in the agreement, which shall not exceed the lesser of 20 years or 75 percent of the projected useful life of the project (as determined by the Secretary).

(G)

Qualifying ctl project

The term qualifying CTL project means—

(i)

a commercial-scale project that converts coal to one or more liquid or gaseous transportation fuels; or

(ii)

not more than one project at a facility that converts petroleum refinery waste products, including petroleum coke, into one or more liquids or gaseous transportation fuels,

that demonstrates the capture, and sequestration or disposal or use of, the carbon dioxide produced in the conversion process, and that, on the basis of a carbon dioxide sequestration plan prepared by the applicant, is certified by the Administrator of the Environmental Protection Agency, in consultation with the Secretary, as producing fuel with life cycle carbon dioxide emissions at or below the average life cycle carbon dioxide emissions for the same type of fuel produced at traditional petroleum based facilities with similar annual capacities.
(H)

Standby loan agreement

The term standby loan agreement means a loan agreement entered into under paragraph (2).

(2)

Standby Loans

(A)

Loan Authority

The Secretary may enter into standby loan agreements with not more than six qualifying CTL projects, at least one of which shall be a project jointly or in part owned by two or more small coal producers. Such an agreement—

(i)

shall provide that the Secretary will make a direct loan (within the meaning of section 502(1) of the Federal Credit Reform Act of 1990) to the qualifying CTL project; and

(ii)

shall set a cap price and a minimum price for the primary term of the agreement.

(B)

Loan Disbursements

Such a loan shall be disbursed during the primary term of such agreement whenever the market price falls below the minimum price. The amount of such disbursements in any calendar quarter shall be equal to the excess of the minimum price over the market price, times the output of the project (but not more than a total level of disbursements specified in the agreement).

(C)

Loan Repayments

The Secretary shall establish terms and conditions, including interest rates and amortization schedules, for the repayment of such loan within the full term of the agreement, subject to the following limitations:

(i)

If in any calendar quarter during the primary term of the agreement the market price is less than the cap price, the project may elect to defer some or all of its repayment obligations due in that quarter. Any unpaid obligations will continue to accrue interest.

(ii)

If in any calendar quarter during the primary term of the agreement the market price is greater than the cap price, the project shall meet its scheduled repayment obligation plus deferred repayment obligations, but shall not be required to pay in that quarter an amount that is more than the excess of the market price over the cap price, times the output of the project.

(iii)

At the end of the primary term of the agreement, the cumulative amount of any deferred repayment obligations, together with accrued interest, shall be amortized (with interest) over the remainder of the full term of the agreement.

(3)

Profit-sharing

The Secretary is authorized to enter into a profit-sharing agreement with the project at the time the standby loan agreement is executed. Under such an agreement, if the market price exceeds the cap price in a calendar quarter, a profit-sharing payment shall be made for that quarter, in an amount equal to—

(A)

the excess of the market price over the cap price, times the output of the project; less

(B)

any loan repayments made for the calendar quarter.

(4)

Compliance with Federal Credit Reform Act

(A)

Upfront Payment of Cost of Loan

No standby loan agreement may be entered into under this subsection unless the project makes a payment to the United States that the Office of Management and Budget determines is equal to the cost of such loan (determined under 502(5)(B) of the Federal Credit Reform Act of 1990). Such payment shall be made at the time the standby loan agreement is executed.

(B)

Minimization of Risk to the Government

In making the determination of the cost of the loan for purposes of setting the payment for a standby loan under subparagraph (A), the Secretary and the Office of Management and Budget shall take into consideration the extent to which the minimum price and the cap price reflect historical patterns of volatility in actual oil prices relative to projections of future oil prices, based upon publicly available data from the Energy Information Administration, and employing statistical methods and analyses that are appropriate for the analysis of volatility in energy prices.

(C)

Treatment of Payments

The value to the United States of a payment under subparagraph (A) and any profit-sharing payments under paragraph (3) shall be taken into account for purposes of section 502(5)(B)(iii) of the Federal Credit Reform Act of 1990 in determining the cost to the Federal Government of a standby loan made under this subsection. If a standby loan has no cost to the Federal Government, the requirements of section 504(b) of such Act shall be deemed to be satisfied.

(5)

Other Provisions

(A)

No Double Benefit

A project receiving a loan under this subsection may not, during the primary term of the loan agreement, receive a Federal loan guarantee under subsection (a) of this section, or under other laws.

(B)

Subrogation, Etc

Subsections (g)(2) (relating to subrogation), (h) (relating to fees), and (j) (relating to full faith and credit) shall apply to standby loans under this subsection to the same extent they apply to loan guarantees.

.