42 U.S.C. § 16503: Sugar ethanol loan guarantee program

Funds may be provided for the cost (as defined in section 661a of title 2 ) of loan guarantees issued under title XIV 1 to carry out commercial demonstration projects for ethanol derived from sugarcane, bagasse, and other sugarcane byproducts. 1 See References in Text note below. The Secretary may issue loan guarantees under this section to projects to demonstrate commercially the feasibility and viability of producing ethanol using sugarcane, sugarcane bagasse, and other sugarcane byproducts as a feedstock. the project design has been validated through the operation of a continuous process facility; the project has been subject to a full technical review; the project, with the loan guarantee, is economically viable; and there is a reasonable assurance of repayment of the guaranteed loan. may be issued for up to 80 percent of the estimated cost of a project; but shall not exceed $50,000,000 for any 1 project. up to 80 percent of the excess of actual project costs; but not to exceed 15 percent of the amount of the original loan guarantee. Subject to subparagraph (A), the Secretary shall guarantee 100 percent of the principal and interest of a loan guarantee made under subparagraph (A).