Page:United States Statutes at Large Volume 122.djvu/1335

 12 2 STA T . 1 3 12 PUBLIC LA W 11 0– 23 4—M A Y 22, 200 8‘ ‘ (B)FEASIB I L I TY.—Inap p rovi n g a l oan g u aran te e appli c ation , t h e S ecretar ys hall d eter m ine the technical and economic f easi b ility of the pro j ect based on a feasibility study of the project described in the application conducted by an independent third party. ‘‘( C )S COR I NG SYSTE M .—In determining the priority scoring system for loan guarantees under subsection (c)( 2 ), the Secretary shall consider— ‘‘(i) w hether the applicant has established a mar k et for the advanced biofuel and the byproducts produced ‘‘(ii) whether the area in which the applicant pro - poses to place the biorefinery has other similar facili- ties; ‘‘(iii) whether the applicant is proposing to use a feedstock not previously used in the production of advanced biofuels; ‘‘(iv) whether the applicant is proposing to work with producer associations or cooperatives; ‘‘(v) the level of financial participation by the applicant, including support from non-Federal and pri- vate sources; ‘‘(vi) whether the applicant has established that the adoption of the process proposed in the application will have a positive impact on resource conservation, public health, and the environment; ‘‘(vii) whether the applicant can establish that if adopted, the biofuels production technology proposed in the application will not have any significant negative impacts on e x isting manufacturing plants or other facilities that use similar feedstocks; ‘‘(viii) the potential for rural economic develop- ment; ‘‘(ix) the level of local ownership proposed in the application; and ‘‘(x) whether the project can be replicated. ‘‘(2) L IMITATIONS.— ‘‘( A ) M A X IM U M AMOUNT O F LOAN GUARANTEE D .— T he principal amount of a loan guaranteed under subsection (c)(2) may not exceed $ 2 50 ,000,000. ‘‘(B) MAXIMUM P ERCENTAGE OF LOAN GUARANTEED.— ‘‘(i) IN GENERAL.— E xcept as otherwise provided in this subparagraph, a loan guaranteed under sub- section (c)(2) shall be in an amount not to exceed 8 0 percent of the project costs, as determined by the Secretary. ‘‘(ii) O T H ER DIRECT FEDERAL FUNDING.—The amount of a loan guaranteed for a project under sub- section (c)(2) shall be reduced by the amount of other direct Federal funding that the eligible entity receives for the same project. ‘‘(iii) AUTHORITY TO GUARANTEE THE LOAN.—The Secretary may guarantee up to 9 0 percent of the prin- cipal and interest due on a loan guaranteed under subsection (c)(2). ‘‘(C) LOAN GUARANTEE FUND DISTRIBUTION.—Of the funds made available for loan guarantees for a fiscal year under subsection (h), 50 percent of the funds shall be

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