Current as of: February 2010 (1) Limitations on authorization of appropriations
For fiscal year 2010, up to $300,000,000 is authorized to be
appropriated for a United States contribution to the Clean
Technology Fund (the Fund).
(2) Limits on country access
The Secretary of the Treasury shall use the voice and vote of the
United States to ensure that -
(A) The Fund does not provide more than 15 percent of Fund
resources to any one country;
(B) Prior to the obligation of funds, recipient countries
submit to the governing body of the Fund, and the governing body
of the Fund appropriately reviews and considers, an investment
plan that will achieve significant net reductions in national-
level greenhouse gas emissions;
(C) The investment plan for a recipient country, whose
borrowing status is classified by the World Bank as
"International Development Association (IDA) blend", shall have
at least 15 percent of its total cost for public sector
activities contributed from the public funds of the recipient
country, and any recipient country whose borrowing status is
classified by the World Bank as "International Bank for
Reconstruction and Development (IBRD) Only" status, shall have at
least 25 percent of its total cost for public sector activities
contributed from public funds of the recipient country; and
(D) Assistance made available by the Fund is used exclusively
to support the deployment of clean energy technologies in
developing countries (including, where appropriate, through the
provision of technical support or support for policy or
institutional reforms) in a manner that achieves substantial net
reductions in greenhouse gas emissions.
(3) Reporting requirement
Not later than 180 days after December 16, 2009, and annually
thereafter, the Secretary of the Treasury shall submit to the
Committees on Appropriations in the House and Senate, the Senate
Foreign Relations Committee and the House Financial Services
Committee, a report describing -
(A) the operations and governance of the Fund, and the purpose
and progress of each project supported by the Fund, including the
extent to which assistance made available by the Fund has reduced
or will reduce greenhouse gas emissions in recipient countries;
and
(B) how each project furthers the Fund's investment plan of the
country or countries in which the project is implemented.
(4) Definitions
For purposes of this section -
(A) Net reductions
The term "net reductions" refers to the extent to which a
project or program supported under this section results in lower
greenhouse gas emissions than would be emitted by the same entity
or sector in the same country in the absence of the Fund's
project, taking into account, unless impracticable, effects
beyond the physical boundaries of the project or program that
result from project or program activities.
(B) Public sector activities
The term "public sector activities" may include sovereign loans
assumed by the recipient country to contribute to the financing
of the investment plan.
(C) Clean energy technology
The term "clean energy technology" means a technology that, as
compared with technologies being deployed at that time for
widespread commercial use in the country involved -
(i) achieves substantial reductions in greenhouse gas
emissions;
(ii) does not result in significant incremental adverse
effects on public health or the environment; and
(iii) does one or more of the following:
(I) generates electricity or useful thermal energy from a
renewable resource;
(II) substantially increases the energy efficiency of
buildings, industrial, or agricultural processes, or of
electricity transmission, distribution, or end-use
consumption; or
(III) substantially increases the energy efficiency of the
transportation system or increases utilization of
transportation fuels that have lifecycle greenhouse gas
emissions that are substantially lower than those
attributable to fossil fuel-based alternatives.Legislative History ________________________________________________________________________
U.S. Code Provisions: Global WarmingState Laws: Global Warming
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