article: SECTION 1. INCENTIVES FOR INNOVATIVE TECHNOLOGIES LOAN GUARANTEE PROGRAM. (a) Specific Appropriation or Contribution.--Section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512) is amended-- (1) by striking subsection (b) and inserting the following: ``(b) Specific Appropriation or Contribution.-- ``(1) In general.--No guarantee shall be made unless-- ``(A) an appropriation for the cost of the guarantee has been made; ``(B) the Secretary has received from the borrower a payment in full for the cost of the guarantee and deposited the payment into the Treasury; or ``(C) a combination of appropriations under subparagraph (A) or payments from the borrower under subparagraph (B) has been made that is sufficient to cover the cost of the guarantee. ``(2) Limitation.--The source of payments received from a borrower under subparagraph (B) or (C) of paragraph (1) shall not be a loan or other debt obligation that is made or guaranteed by the Federal Government.''; and (2) by adding at the end the following: ``(l) Credit Report.--If, in the opinion of the Secretary, a third- party credit rating of the applicant or project is not relevant to the determination of the credit risk of a project, if the project costs are not projected to exceed $100,000,000, and the applicant agrees to accept the credit rating assigned to the applicant by the Secretary, the Secretary may waive any otherwise applicable requirement (including any requirement described in part 609 of title 10, Code of Federal Regulations) to provide a third-party credit report. ``(m) Direct Hire Authority.-- ``(1) In general.--Notwithstanding sections 3304 and sections 3309 through 3318 of title 5, United States Code, the head of the loan guarantee program under this title (referred to in this subsection as the `Executive Director') may, on a determination that there is a severe shortage of candidates or a severe hiring need for particular positions to carry out the functions of this title, recruit and directly appoint highly qualified critical personnel with specialized knowledge important to the function of the programs under this title into the competitive service. ``(2) Exception.--The authority granted under paragraph (1) shall not apply to positions in the excepted service or the Senior Executive Service. ``(3) Requirements.--In exercising the authority granted under paragraph (1), the Executive Director shall ensure that any action taken by the Executive Director-- ``(A) is consistent with the merit principles of section 2301 of title 5, United States Code; and ``(B) complies with the public notice requirements of section 3327 of title 5, United States Code. ``(4) Sunset.--The authority provided under paragraph (1) shall terminate on September 30, 2011. ``(n) Professional Advisors.--The Secretary may-- ``(1) retain agents and legal and other professional advisors in connection with guarantees and related activities authorized under this title; ``(2) require applicants for and recipients of loan guarantees to pay all fees and expenses of the agents and advisors; and ``(3) notwithstanding any other provision of law, select such advisors in such manner and using such procedures as the Secretary determines to be appropriate to protect the interests of the United States and achieve the purposes of this title. ``(o) Multiple Sites.--Notwithstanding any contrary requirement (including any provision under part 609.12 of title 10, Code of Federal Regulations) an eligible project may be located on 2 or more non- contiguous sites in the United States.''. (b) Applications for Multiple Eligible Projects.--Section 1705 of the Energy Policy Act of 2005 (42 U.S.C. 16516) is amended-- (1) by redesignating subsection (e) as subsection (f); and (2) by inserting after subsection (d) the following: ``(e) Multiple Applications.--Notwithstanding any contrary requirement (including any provision under part 609.3(a) of title 10, Code of Federal Regulations), a project applicant or sponsor of an eligible project may submit an application for more than 1 eligible project under this section.''. (c) Energy Efficiency Loan Guarantees.--Section 1705(a) of the Energy Policy Act of 2005 (42 U.S.C. 16516(a)) is amended by adding at the end the following: ``(4) Energy efficiency projects, including projects to retrofit residential, commercial, and industrial buildings, facilities, and equipment.''. (d) Fees; Professional Advisors.--Section 136 of the Energy Independence and Security Act of 2007 (42 U.S.C. 17013) is amended-- (1) by striking subsection (f) and inserting the following: ``(f) Fees.--Except as otherwise permitted under subsection (i), administrative costs shall be not more than $100,000 or 10 basis points of the loan.''; (2) by redesignating subsections (i) and (j) as subsections (j) and (k), respectively; and (3) by inserting after subsection (h) the end the following: ``(i) Professional Advisors.--The Secretary may-- ``(1) retain agents and legal and other professional advisors in connection with guarantees and related activities authorized under this section; ``(2) require applicants for and recipients of loan guarantees to pay directly, or through the payment of fees to the Secretary, all fees and expenses of the agents and advisors; and ``(3) notwithstanding any other provision of law, select such advisors in such manner and using such procedures as the Secretary determines to be appropriate to protect the interests of the United States and achieve the purposes of this section.''.
summary: Amends the Energy Policy Act of 2005 (EPA) to prohibit federal loan guarantees for innovative technologies unless: (1) an appropriation for the cost of the guarantee has been made; (2) the Secretary of Energy (DOE) has received and deposited into the Treasury payment in full from the borrower for the cost of the guarantee; or (3) a combination of appropriations or payments from the borrower has been made that is sufficient to cover the cost of the guarantee. Authorizes the Secretary to waive requirements to provide a third-party credit report if: (1) such report, in the Secretary's opinion, is not relevant to the determination of the credit risk of a project; (2) the project costs are not projected to exceed $100 million; and (3) the applicant agrees to accept the credit rating the Secretary assigns. Authorizes the head of the loan guarantee program, if there is either a severe shortage of candidates or a severe hiring need for particular positions, to recruit and directly appoint into the competitive service highly qualified critical personnel with specialized knowledge important to program functions (direct hire authority). Amends the EPA and the Energy Independence and Security Act of 2007 to authorize the Secretary to: (1) retain agents and professional advisors in connection with guarantees and related activities; and (2) require loan guarantee applicants and recipients to pay all fees and expenses of such agents and advisors. Authorizes the Secretary to make energy efficiency loan guarantees for projects starting construction by September 30, 2011, to retrofit residential, commercial, and industrial buildings, facilities, and equipment.