“To support communities that host transmission lines and to promote conservation and recreation, and for other purposes.”
No CRS summary available for this bill.
This section establishes the Community Economic Development Transmission Fund in the Treasury, to consist of deposits each fiscal year of a portion of interest—determined by the Secretary of Energy in consultation with the Secretary of the Treasury—charged and collected on covered loans issued after enactment for high-capacity (999 megawatts or more) electric power transmission projects under specified Department of Energy loan programs or the Western Area Power Administration's Transmission Infrastructure Program. The Secretary of Energy must make payments from the fund, as provided in appropriation acts, to eligible host communities—including local governments and Indian tribes (as defined in 25 U.S.C. 5304) with jurisdiction over eligible project land—not later than 18 months after construction commences on a project, limited to one payment per project per host community upon submission of a request within one year of notice during federal siting and permitting processes and certification of eligible use. Payments are determined by a formula ensuring long-term fund solvency that incorporates stakeholder input on project impacts and includes a small-population community minimum, are in addition to payments in lieu of taxes under 31 U.S.C. chapter 69, and may be used by host communities with up to 80% allocated to community support for infrastructure and services (e.g., public schools, roads, broadband access, workforce training, agricultural support).