42 USC 16374 - Future growth grants

U.S Code last checked for updates: Nov 22, 2024

§ 16374.

Future growth grants

(a)

Establishment

The Secretary may provide grants to pay a portion of the cost differential, with respect to any projected future increase in demand for carbon dioxide transportation by an infrastructure project described in subsection (b), between—

(1)

the cost of constructing the infrastructure asset with the capacity to transport an increased flow rate of carbon dioxide, as made practicable under the project; and

(2)

the cost of constructing the infrastructure asset with the capacity to transport carbon dioxide at the flow rate initially required, based on commitments for the use of the asset.

(b)

Eligibility

To be eligible to receive a grant under this section, an entity shall—

(1)

be eligible to receive credit assistance under the CIFIA program;

(2)

carry out, or propose to carry out, a project for large-capacity, common carrier infrastructure with a probable future increase in demand for carbon dioxide transportation; and

(3)

submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be appropriate.

(c)

Use of funds

(d)

Maximum amount

(Pub. L. 109–58, title IX, § 999D, as added Pub. L. 117–58, div. D, title III, § 40304(a), Nov. 15, 2021, 135 Stat. 998.)

cite as: 42 USC 16374