42 USC § 18715 - Transmission facility financing

---
identifier: "/us/usc/t42/s18715"
source: "usc"
legal_status: "official_prima_facie"
title: "42 USC § 18715 - Transmission facility financing"
title_number: 42
title_name: "THE PUBLIC HEALTH AND WELFARE"
section_number: "18715"
section_name: "Transmission facility financing"
chapter_number: 162
chapter_name: "ENERGY INFRASTRUCTURE"
subchapter_number: "I"
subchapter_name: "GRID INFRASTRUCTURE AND RESILIENCY"
part_number: "A–1"
part_name: "Electric Transmission"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 117–169, title V, § 50151, Aug. 16, 2022, 136 Stat. 2046.)"
---


# § 18715. Transmission facility financing

**(a)** **Appropriation** September 30, 2030*Provided*September 30, 2031

In addition to amounts otherwise available, there is appropriated to the Secretary for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $2,000,000,000, to remain available through , to carry out this section: , That the Secretary shall not enter into any loan agreement pursuant to this section that could result in disbursements after .

**(b)** **Use of funds** section 824p(a) of title 16

The Secretary shall use the amounts made available by subsection (a) to carry out a program to pay the costs of direct loans to non-Federal borrowers, subject to the limitations that apply to loan guarantees under section 50141(d) and under such terms and conditions as the Secretary determines to be appropriate, for the construction or modification of electric transmission facilities designated by the Secretary to be necessary in the national interest under .

**(c)** **Loans** A direct loan provided under this section—

**(1)** shall have a term that does not exceed the lesser of—

**(A)** 90 percent of the projected useful life, in years, of the eligible transmission facility; and

**(B)** 30 years;

**(2)** shall not exceed 80 percent of the project costs; and

**(3)** shall, on first issuance, be subject to the condition that the direct loan is not subordinate to other financing.

**(d)** **Interest rates** A direct loan provided under this section shall bear interest at a rate determined by the Secretary, taking into consideration market yields on outstanding marketable obligations of the United States of comparable maturities as of the date on which the direct loan is made.

**(e)** **Definition of direct loan** section 661a of title 2

In this section, the term “direct loan” has the meaning given the term in .

---

**Source Credit**: (Pub. L. 117–169, title V, § 50151, Aug. 16, 2022, 136 Stat. 2046.)

## Editorial Notes

### References in Text

Section 50141(d), referred to in subsec. (b), is , title V, , , which is not classified to the Code.

### Codification

Section was enacted as part of , and not as part of div. D of , which enacted this chapter.

## Statutory Notes and Related Subsidiaries

### Definition of “Secretary”

“Secretary” means the Secretary of Energy, see , set out as a note under .