Energy Security Act Excerpts Part B-United States Synthetic Fuels Corporation SUBTITLE A-GENERAL PROVISIONS SHORT TITLE SEC. 111. This part may be cited as the "United States Synthetic 42 USC 8701 Fuels Corporation Act of 1980" GENERAL DEFINITIONS SEC. 112. For purposes of this part: (1) The term "Board of Directors" means the Board of Directors of the Corporation, including the Chairman and the six other Directors. (2) The term "Chairman" means the Chairman of the Board of Directors of the Corporation. (3) The term "concern" means any (A) person; (B) State or political subdivision or governmental entity thereof, or an Indian tribe or tribal organization; (C) multi-State entity which possesses legal powers necessary to carry out activities under this part; (D) foreign government or agency thereof when participating in joint ventures with any entity described in subparagraph (A) or (B); or (E) combination of the aforementioned, which is engaged, or proposes to engage, in a synthetic fuel project pursuant to this part. note. 42 USC 8702. 94 STAT. 634 Post, p. 663. Post, p. 654. Post, p. 658. Post, p. 660. Post, p. 661. Post, p. 661. PUBLIC LAW 96-294-JUNE 30, 1980 (4) The term "Corporation" means the United States Synthetic Fuels Corporation. (5) The term "Corporation construction project" means a synthetic fuel project undertaken in accordance with the provisions of subtitle E. (6) The term "Director" means a member of the Board of Directors, including the Chairman. (7)(A) The term "financial assistance" means any of the following forms of financial assistance, or combinations thereof, as provided in subtitle D— (i) loans; (ii) loan guarantees; (iii) price guarantees; (iv) purchase agreements; (v) joint-ventures; and (vi) acquisition and lease back of a synthetic fuel project pursuant to section 137(c); (B) Such term shall not include any form of grant, except costsharing agreements pursuant to section 131(u). (8) The term "Indian tribe" means any Indian tribe, band, nation, or other organized group or community, including any Alaska Native village or regional or village corporation as defined in or established pursuant to the Alaska Native Claims Settlement Act which is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians. (9) The term "joint venture" means a synthetic fuel project module undertaken in accordance with the provisions of section 136. (10) The term "loan" means a loan, or commitment to loan, made under section 132; (11) The term "loan guarantee" means a guarantee of, or commitment to guarantee, indebtedness, which is made under section 133. (12) The term "person" means any individual, company, cooperative, partnership, corporation, association, consortium, unincorporated organization, trust, estate, or any entity organized for a common business purpose. (13) The term “price guarantee" means a guarantee of, or commitment to guarantee, the price received or to be received by a concern from the sale of synthetic fuel. Such term includes only a guarantee, or commitment to guarantee, which is made under section 134. (14) The term "purchase agreement" means any contract to purchase synthetic fuel, any guarantee thereof, or a commitment thereof, which is made under section 135. (15) The term "qualified concern" means a concern which demonstrates to the satisfaction of the Board of Directors evidence of its capability directly or by contract to undertake and complete the design, construction, and operation of a proposed synthetic fuel project. (16) The term "State" means any of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. (17)(A) The term "synthetic fuel" means any solid, liquid, or gas, or combination thereof, which can be used as a substitute for 24-125 0-83--11 PUBLIC LAW 96-294-JUNE 30, 1980 petroleum or natural gas (or any derivatives thereof, including chemical feedstocks) and which is produced by chemical or physical transformation (other than washing, coking, or desulfurizing) of domestic sources of (i) coal, including lignite and peat; (ii) shale; (iii) tar sands, including those heavy oil resources where- (iv) water, as a source of hydrogen only through electrolysis. (B) Such term includes mixtures of coal and combustible liquids, including petroleum. (C) Such term does not include solids, liquids, or gases, or combinations thereof, derived from biomass, which includes timber, animal and timber waste, municipal and industrial waste, sewage, sludge, oceanic and terrestrial plants, and other organic matter. (18)(A) The term "synthetic fuel project" means any facility using an integrated process or processes at a specific geographic location in the United States for the purpose of commercial production of synthetic fuel. The project may include only (i) the facility, including the equipment, plant, machinery, supplies, and other materials associated with the facility, which converts the domestic resource to synthetic fuel; (ii) the land and mineral rights required directly for use in connection with the facilities for the production of synthetic fuels; (iii) any facility or equipment to be used in the extraction of a mineral for use directly and exclusively in such conversion; (I) which (aa) is co-located with the conversion facility or is located in the immediate vicinity of the conversion facility; or (bb) if not co-located or located in the immediate vicinity, is incidental to the project (except in the event of a coal mine where no other reasonable source of coal is available to the project); and (II) which is necessary to the project; and (iv) any transportation facility, electric powerplant, electric transmission line or other facility (I) which is for the exclusive use of the project; (III) which is necessary to the project, except that (B)(i) Such term may also include a project which will result in the replacement of a significant amount of oil and is 94 STAT. 635 94 STAT. 636 Post, pp. 660, 662. 42 USC 8701 note. United States 42 USC 8711. Post, p. 673. 42 USC 8712. Membership. Terms. PUBLIC LAW 96-294-JUNE 30, 1980 (I) used solely for the production of a mixture of coal and combustible liquids, including petroleum, for direct use as a fuel, but shall not include (aa) any mineral right; or (bb) any facility or equipment for extraction of any mineral; (II) used solely for the commercial production of hydrogen from water through electrolysis; and (III) a magnetohydrodynamic topping cycle used solely for the commercial production of electricity. (ii) Such a synthetic fuel project using magnetohydrodynamic technology shall only be eligible for financial assistance pursuant to section 133 or section 136, but not both, and shall not be authorized for purposes of subtitle E. (iii) Such a synthetic fuel project for commercial production of hydrogen from water shall not be eligible for financial assistance pursuant to section 136. (C) For purposes of this paragraph (i) the term "exclusive" means for the sole use of the project, except that an incidental byproduct might be used for other purposes; (ii) the term "incidental" means a relatively small portion of the total project cost; and (iii) the term "necessary" means an integrated part of the project taking into account considerations of economy and efficiency of operation. EFFECTIVE DATE SEC. 113. This part shall take effect on the date of the enactment of this part. SUBTITLE B-ESTABLISHMENT of CorporatiON ESTABLISHMENT SEC. 115. (a) There is hereby created the United States Synthetic Fuels Corporation. (b) The principal office of the Corporation shall be located in the District of Columbia. The Corporation may establish offices elsewhere in the United States as determined by the Board of Directors of the Corporation. The Corporation is deemed to be a resident of the District of Columbia. (c) The general powers of the Corporation are those powers specified in section 171. BOARD OF DIRECTORS SEC. 116. (a)(1) The powers of the Corporation shall be vested in the Board of Directors, except those functions, powers, and duties vested in the Chairman by or pursuant to this part. (2) The Board of Directors shall consist of a Chairman and six other Directors appointed by the President by and with the advice and consent of the Senate. Not more than four Directors shall be members of any one political party. The Chairman shall devote full working time to the affairs of the Corporation and shall hold no other salaried position. (bX1) The Directors shall serve for seven-year terms. Of the Directors first appointed, the Chairman shall serve as Chairman for a seven-year term, one Director shall serve for a term of six years, one |