Page:United States Statutes at Large Volume 121.djvu/1797

 121 STAT. 1776

PUBLIC LAW 110–140—DEC. 19, 2007 engaged in the research, development, manufacture, production, and bringing to market of goods, products, or services that generate or support the production of renewable energy; and ‘‘(C) to make grants to Renewable Fuel Investment Capital companies, and to other entities, for the purpose of providing operational assistance to smaller enterprises financed, or expected to be financed, by such companies.

15 USC 690b.

‘‘SEC. 383. ESTABLISHMENT.

‘‘The Administrator shall establish a Renewable Fuel Capital Investment Program, under which the Administrator may— ‘‘(1) enter into participation agreements for the purposes described in section 382; and ‘‘(2) guarantee the debentures issued by Renewable Fuel Capital Investment companies as provided in section 385. 15 USC 690c.

‘‘SEC. 384. SELECTION OF RENEWABLE FUEL CAPITAL INVESTMENT COMPANIES.

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‘‘(a) ELIGIBILITY.—A company is eligible to apply to be designated as a Renewable Fuel Capital Investment company if the company— ‘‘(1) is a newly formed for-profit entity or a newly formed for-profit subsidiary of an existing entity; ‘‘(2) has a management team with experience in alternative energy financing or relevant venture capital financing; and ‘‘(3) has a primary objective of investment in smaller enterprises that research, manufacture, develop, produce, or bring to market goods, products, or services that generate or support the production of renewable energy. ‘‘(b) APPLICATION.—A company desiring to be designated as a Renewable Fuel Capital Investment company shall submit an application to the Administrator that includes— ‘‘(1) a business plan describing how the company intends to make successful venture capital investments in smaller enterprises primarily engaged in the research, manufacture, development, production, or bringing to market of goods, products, or services that generate or support the production of renewable energy; ‘‘(2) information regarding the relevant venture capital qualifications and general reputation of the management of the company; ‘‘(3) a description of how the company intends to seek to address the unmet capital needs of the smaller enterprises served; ‘‘(4) a proposal describing how the company intends to use the grant funds provided under this part to provide operational assistance to smaller enterprises financed by the company, including information regarding whether the company has employees with appropriate professional licenses or will contract with another entity when the services of such an individual are necessary; ‘‘(5) with respect to binding commitments to be made to the company under this part, an estimate of the ratio of cash to in-kind contributions; ‘‘(6) a description of whether and to what extent the company meets the criteria under subsection (c)(2) and the objectives of the program established under this part;

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