,,ii #aah? ,,congress #a/ ,session ,s4 #fdi ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #b1 #bjbc,mr4 ,cornyn 7= himself1 ,mr4 ,coons1 ,mr4 ,cassidy1 ,mr4 ,he9ri*1 ,ms4 ,murk[ski1 & ,mr4 ,lujn7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,en]gy & ,natural ,res\rces ,a ,,bill ,to require ! ,secret>y ( ,en]gy to e/abli% a hydrog5 infra/ructure f9ance & innovation pilot program1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,hydrog5 ,infra/ructure ,f9ance & ,innovation ,act4 #b4 ,/udy ,n lat] ?an #ah mon?s aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y ( ,en]gy1 9 coord9ation ) ! ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 ! ,*air ( ! ,c\ncil on ,environm5tal ,quality1 ! ,adm9i/rator ( ! ,en]gy ,in=mation ,adm9i/ration1 & ! heads ( o!r relevant ,f$]al ag5cies1 %all conduct a /udy subject to notice & public comm5t-- 7#a7 to fully assess & report ! pot5tial lay\t ( pipel9e corridors1 includ+ exi/+ & new infra/ructure1 t-- 7,a7 are robu/ aga9/ a range ( project$ hydrog5 dem& futures2 & 7,b7 reflect ! pot5tial to site )91 or adjac5t to1 exi/+ pipel9e or o!r l9e> infra/ructure corridors2 7#b7 to assess ! co/s associat$ ) ea* infra/ructure sc5>io describ$ 9 p>agraph 7#a72 7#c7 to syn!size ! results f rese>*1 developm5t1 & demon/ration projects on mat]ials & metallurgy = transport+ & /or+ hydrog5 & hydrog5-bas$ fuels1 su* z ammonia2 7#d7 to det]m9e out/&+ que/ions ) reg>d to rese>*1 developm5t1 & demon/ration ( infra/ructure = transport+ & /or+ hydrog5 & hydrog5-bas$ fuels1 su* z ammonia2 7#e7 to inve/igate ! behavior & environm5tal impact ( hydrog5 leakage 9 pipel9es & f geologic /orage sites & nongeologic /orage equipm5t2 7#f7 to det]m9e be/ practices = ! con/ruction & ma9t5ance ( hydrog5 pipel9es2 7#g7 to det]m9e ! r$uction 9 c>bon int5sity at v>i\s levels ( hydrog5 bl5d+ into ! natural gas network2 & 7#h7 to e/abli% a framework = ! measurem5t1 report+1 & managem5t ( hydrog5 leaks4 #c4 ,support+ hydrog5 infra/ructure & regional developm5t ( hydrog5 7a7 ,def9itions ,9 ?is section3 7#a7 ,bo>d-regulat$ rates ,! t]m ,bo>d-regulat$ rates means rates regulat$ by ! ,surface ,transportation ,bo>d4 7#b7 ,commission-regulat$ rates ,! t]m ,commission-regulat$ rates means rates regulat$ by ! ,f$]al ,en]gy ,regulatory ,commission4 7#c7 ,common c>ri] ,! t]m common c>ri] means a transportation infra/ructure op]ator or own] t-- 7,a7 publi%es a publicly available t>iff conta9+ ! j & reasonable rates1 t]ms1 & conditions ( nondiscrim9atory s]vice2 & 7,b7 holds itself out to provide transportation s]vices to ! public = a fee4 7#d7 ,eligible activity ,! t]m eligible activity means an activity describ$ 9 subsection 7g77#b7 relat+ to1 or c>ri$ out 9 connection )1 an eligible project4 7#e7 ,eligible entity ,! t]m eligible entity means a corporation1 p>tn]%ip1 jo9t v5ture1 tru/1 non-,f$]al gov]nm5tal entity1 ag5cy1 or in/rum5tality1 or o!r entity4 7#f7 ,eligible project 7,a7 ,9 g5]al ,subject to subp>agraph 7,b71 ! t]m eligible project means an infra/ructure project = hydrog5 transportation1 /orage1 or deliv]y1 includ+ pipel9e1 %ipp+1 rail1 refuel+1 or o!r infra/ructure1 or associat$ equipm5t1 z ! ,secret>y det]m9es to be appropriate4 7,b7 ,inclusion ( pipel9e projects ,! t]m eligible project includes a pipel9e project only if ! project is =-- 7i7 ! con/ruction ( #a or m new pipel9es t are capable ( h&l+ pure hydrog52 or 7ii7 ! retr(itt+ ( #a or m exi/+ natural gas pipel9es-- 7,i7 to transport a bl5d ( hydrog5 & natural gas2 & 7,,ii7 9 a mann] t w significantly increase ! capacity ( ! pipel9es to transport hydrog51 z det]m9$ by ! ,secret>y4 7#g7 ,eligible project co/ 7,a7 ,9 g5]al ,! t]m eligible project co/s means-- 7i7 ! co/s ( c>ry+ out an eligible activity2 & 7ii7 any co/s describ$ 9 subp>agraph 7,b7 relat+ to1 or incurr$ 9 connection )1 an eligible project4 7,b7 ,co/s describ$ ,! co/s ref]r$ to 9 subp>agraph 7,a77ii7 are-- 7i7 ! co/s ( capitaliz$ int]e/ necess>y to meet m>ket requirem5ts1 ! co/s ( reasonably requir$ res]ve funds1 capital issuance exp5ses1 & any o!r c>ry+ co/s dur+ con/ruction ( ! applicable infra/ructure2 & 7ii7 transaction co/s associat$ ) f9anc+ an eligible project1 includ+ ! co/ ( legal c\nsel & te*nical consultants4 7#h7 ,,hifia pilot program ,! t]m ,,hifia pilot program means ! hydrog5 infra/ructure f9ance & innovation pilot program e/abli%$ "u subsection 7b77#a74 7#i7 ,lett] ( int]e/ ,! t]m lett] ( int]e/ means a lett] submitt$ by a pot5tial applicant prior to an application = a grant or a loan "u ! ,,hifia pilot program t-- 7,a7 is 9 a =mat prescrib$ by ! ,secret>y on ! website ( ! ,,hifia pilot program2 7,b7 describes ! project & ! location1 purpose1 & co/ ( ! project2 7,c7 outl9es ! propos$ f9ancial plan1 includ+-- 7i7 ! reque/$ grant or loan assi/ance2 & 7ii7 ! propos$ obligor1 if applicable2 7,d7 provides a /atus ( environm5tal review2 & 7,e7 provides in=mation reg>d+ satisfaction ( o!r eligibility requirem5ts ( ! ,,hifia pilot program4 7#aj7 ,l[-income or disadvantag$ community ,! t]m l[-income or disadvantag$ community means a community 7includ+ a city1 a t[n1 a c\nty1 & any reasonably isolat$ & divisible segm5t ( a l>g] municipality7 ) an annual m$ian h\sehold income t is less ?an #ajj p]c5t ( ! /atewide annual m$ian h\sehold income = ! ,/ate 9 :i* ! community is locat$1 accord+ to ! mo/ rec5t dec5nial c5sus4 7#aa7 ,obligor ,! t]m obligor means an eligible entity t is liable = paym5t ( ! pr9cipal (1 or int]e/ on1 a loan "u ! ,,hifia pilot program4 7#ab7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,en]gy4 7b7 ,e/abli%m5t 7#a7 ,9 g5]al ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y1 9 consultation ) ! ,f$]al ,en]gy ,regulatory ,commission1 ! ,surface ,transportation ,bo>d1 & ! ,adm9i/rator ( ! ,pipel9e & ,haz>d\s ,mat]ials ,safety ,adm9i/ration1 %all e/abli% a hydrog5 infra/ructure f9ance & innovation pilot program "u :i* ! ,secret>y %all provide-- 7,a7 f9ancial assi/ance to eligible entities = eligible projects ?r\gh-- 7i7 grants2 or 7ii7 long-t]m1 l[-co/ supplem5tal loans2 & 7,b7 te*nical assi/ance 9 accordance ) subsection 7l74 7#b7 ,coord9ation ) hydrog5 hubs 7,a7 ,9 g5]al ,to ensure t ! ,,hifia pilot program is compatible )1 & complem5t>y to1 any hydrog5 hubs develop$ "u any o!r law1 ! ,secret>y1 to ! maximum ext5t practicable & subject to subp>agraph 7,b71 %all coord9ate ! e/abli%m5t ( ! ,,hifia pilot program )-- 7i7 any program to support ! developm5t ( hydrog5 hubs t is requir$ to be e/abli%$ "u any o!r law2 & 7ii7 ! developm5t ( ^? hydrog5 hubs4 7,b7 ,treatm5t ,coord9ation ) a hydrog5 hub "u subp>agraph 7,a7 %all n-- 7i7 be consid]$ to be a priority crit]ion 9 det]m9+ :e!r to provide assi/ance = an eligible project "u ! ,,hifia pilot program2 or 7ii7 preclude ! provision ( assi/ance "u ! ,,hifia pilot program = ano!r eligible project t-- 7,i7 meets ! crit]ia describ$ 9 subsections 7d7 & 7e72 & 7,,ii7 is an objectively sup]ior project1 z det]m9$ by ! ,secret>y4 7c7 ,eligibility 7#a7 ,9 g5]al ,! ,secret>y may provide f9ancial assi/ance = an eligible project "u ! ,,hifia pilot program if-- 7,a7 ! eligible entity propos+ to c>ry out ! project submits a lett] ( int]e/ prior to submission ( an application "u p>agraph 7#b7 ) respect to ! project2 & 7,b7 ! eligible entity & ! eligible project meet all applicable requirem5ts ( ?is section4 7#b7 ,applications 7,a7 ,9 g5]al ,to be eligible = a grant or a loan "u ! ,,hifia pilot program1 an eligible entity %all submit to ! ,secret>y an application at su* "t1 9 su* mann]1 & conta9+ su* in=mation z ! ,secret>y det]m9es to be appropriate4 7,b7 ,election 7i7 ,9 g5]al ,an eligible entity may elect to apply = a grant1 a loan1 or bo? "u ! ,,hifia pilot program4 7ii7 ,decision ,! ,secret>y %all h discretion to aw>d any mix ( grants & loans "u ! ,,hifia pilot program z ! ,secret>y det]m9es to be appropriate1 includ+ ) respect to ea* eligible entity t applies = bo? a grant & a loan4 7,c7 ,application process+ proc$ures 7i7 ,notice ( complete application ,n lat] ?an #cj days aft] ! date ( receipt ( an application "u ?is p>agraph1 ! ,secret>y %all provide to ! applicant a writt5 notice describ+ :e!r-- 7,i7 ! application is complete2 or 7,,ii7 additional in=mation or mat]ials are ne$$ to complete ! application4 7ii7 ,approval or d5ial ( application ,n lat] ?an #ij days aft] ! date ( issuance ( a writt5 notice "u clause 7i71 ! ,secret>y %all provide to ! applicant a writt5 notice in=m+ ! applicant :e!r ! ,secret>y has approv$ or disapprov$ ! application4 7d7 ,priority ,9 select+ eligible projects to receive a grant or a loan "u ! ,,hifia pilot program1 ! ,secret>y %all give priority to eligible projects t-- 7#a7 w provide great] net impact 9 avoid+ or r$uc+ emissions ( gre5h\se gases2 & 7#b7 are sit$ 9 a mann] t m9imizes environm5tal di/urbance & o!r sit+ conc]ns1 includ+ by be+ sit$ )91 or adjac5t to1 exi/+ pipel9e or o!r l9e> infra/ructure corridors4 7e7 ,consid]ations ,9 select+ eligible projects to receive a grant or a loan "u ! ,,hifia pilot program1 ! ,secret>y1 to ! maximum ext5t practicable1 %all select projects t-- 7#a7 are l>ge-capacity1 common c>ri] infra/ructure2 7#b7 enable geographical div]sity 9 associat$ projects & supply *a9s to produce1 use1 or /ore hydrog51 ) ! goal ( enabl+ projects 9 all major regions ( ! ,unit$ ,/ates ) curr5t hydrog5 dem& & pot5tial future hydrog5 dem&2 7#c7 aid 9 creat+ economies ( scale = hydrog5 uptake 9 applications requir+ an af=dable solution to r$uce gre5h\se gas emissions2 7#d7 w g5]ate ! greate/ b5efit to l[-income or disadvantag$ communities2 & 7#e7 w-- 7,a7 maximize creation or ret5tion ( jobs 9 ! ,unit$ ,/ates2 & 7,b7 provide ! highe/ job quality4 7f7 ,loans 7#a7 ,9 g5]al ,9 c>ry+ out ! ,,hifia pilot program1 ! ,secret>y %all make loans to eligible entities1 ! proce$s ( :i* %all be us$ to f9ance eligible projects4 7#b7 ,int]e/ rate ,! int]e/ rate ( a loan "u ! ,,hifia pilot program %all be n less ?an ! int]e/ rate on ,unit$ ,/ates ,treasury securities ( a simil> maturity to ! maturity ( ! loan on ! date ( clos+ on ! loan4 7#c7 ,maturity date ,! f9al maturity date ( a loan provid$ "u ! ,,hifia pilot program %all be ! date t is #cj ye>s aft] ! date ( sub/antial completion ( ! applicable eligible project4 7#d7 ,repaym5t 7,a7 ,9 g5]al ,! ,secret>y %all e/abli% a repaym5t s*$ule = ea* loan provid$ "u ! ,,hifia pilot program4 7,b7 ,comm5cem5t ,repaym5t ( a loan provid$ "u ! ,,hifia pilot program %all comm5ce on ! date ( sub/antial completion ( ! applicable eligible project = :i* ! loan 0 provid$4 7,c7 ,def]ral ( repaym5t ,if1 at any "t dur+ ! #e-ye> p]iod beg9n+ on ! date ( sub/antial completion ( an eligible project1 ! project is unable to g5]ate suffici5t rev5ues 9 excess ( reasonable & necess>y op]at+ exp5ses to pay ! s*$ul$ loan repaym5ts ( pr9cipal & int]e/ on ! loan1 ! ,secret>y may all[ ! borr[] to def] repaym5t ( ! loan until ! end ( t #e-ye> p]iod4 7#e7 ,requirem5ts 7,a7 ,cr$itwor?9ess 7i7 ,9 g5]al ,ea* obligor ) respect to a loan provid$ = an eligible project "u ! ,,hifia pilot program %all be cr$itwor?y1 su* t !re exi/s a reasonable prospect ( repaym5t ( ! pr9cipal & int]e/ on ! loan1 z det]m9$ by ! ,secret>y "u clause 7ii74 7ii7 ,reasonable prospect ( repaym5t ,! ,secret>y %all base a det]m9ation ( :e!r !re is a reasonable prospect ( repaym5t "u clause 7i7 on a compreh5sive evaluation ( :e!r ! obligor has a reasonable prospect ( repay+ ! loan = ! eligible project1 includ+ evaluation (-- 7,i7 ! =eca/ ( noncontractual ca% fl[s support$ by m>ket projections f reputable s\rces1 z det]m9$ by ! ,secret>y1 & ca% sweeps or o!r /ructural enhancem5ts2 7,,ii7 ! /r5g? ( ! contractual t]ms ( an eligible project 7if available = ! applicable m>ket segm5t72 7,,iii7 ! project$ f9ancial /r5g? ( ! obligor-- 7aa7 at ! "t ( loan close2 & 7bb7 ?r\gh\t ! loan t]m1 includ+ aft] ! project is complet$2 7,,iv7 ! f9ancial /r5g? ( ! inve/ors & /rategic p>tn]s ( ! obligor1 if applicable2 & 7,v7 o!r f9ancial metrics & analyses t are reli$ on by ! private l5d+ community & nationally recogniz$ cr$it rat+ ag5cies1 z det]m9$ to be appropriate by ! ,secret>y4 7,b7 ,d$icat$ s\rce ( rev5ue ,an eligible project = :i* a loan is provid$ "u ! ,,hifia pilot program %all h a d$icat$ s\rce ( rev5ue sep>ate f any f9ancial assi/ance receiv$ "u ! ,,hifia pilot program4 7g7 ,use ( f9ancial assi/ance 7#a7 ,9 g5]al ,a grant or loan provid$ "u ! ,,hifia pilot program may be us$ = any eligible project co/s4 7#b7 ,eligible activities ,a grant or loan provid$ "u ! ,,hifia pilot program may be us$ to c>ry out any ( ! foll[+ activities ) respect to an eligible project3 7,a7 ,developm5t phase activities1 includ+-- 7i7 plann+2 7ii7 prelim9>y eng9e]+2 7iii7 design2 7iv7 environm5tal review2 7v7 rev5ue =eca/+2 & 7vi7 o!r precon/ruction activities4 7,b7 ,con/ruction1 recon/ruction1 rehabilitation1 & replacem5t activities1 includ+ ! tra9+ ( con/ruction p]sonnel 9 h&l+ & safety4 7,c7 ,acquisition (-- 7i7 real prop]ty or an int]e/ 9 real prop]ty2 or 7ii7 equipm5t4 7,d7 ,environm5tal mitigation activities4 7,e7 ,activities relat+ to con/ruction cont+5cies4 7h7 ,f$]al requirem5ts 7#a7 ,9 g5]al ,no?+ 9 ?is section sup]s$es ! applicability ( any o!r requirem5t "u ,f$]al law 7includ+ regulations74 7#b7 ,,nepa ,f$]al assi/ance may only be provid$ "u ! ,,hifia pilot program = a project t has receiv$ an environm5tal categorical exclusion1 a f9d+ ( no significant impact1 or a record ( decision "u ! ,national ,environm5tal ,policy ,act ( #aifi 7#db ,u4,s4,c4 #dcba et seq474 7i7 ,leak detection ,ea* eligible entity t receives a loan or grant "u ! ,,hifia pilot program %all conduct-- 7#a7 a hydrog5 leakage monitor+1 report+1 & v]ification 7also kn[n z ,,mrv7 program2 & 7#b7 a hydrog5 leak detection & repair 7also kn[n z ,,ld>7 program4 7j7 ,maximum ,f$]al involvem5t ,! maximum ,f$]al %>e ( an eligible project = :i* a loan is provid$ "u ! ,,hifia pilot program %all n exce$ #hj p]c5t ( ! eligible co/s ( ! project4 7k7 ,am5dm5t ,section #agjc7;b77#c7 ( ! ,en]gy ,policy ,act ( #bjje 7#db ,u4,s4,c4 #afeac7;b77#c77 is am5d$ by /rik+ ,hydrog5 fuel & ins]t+ ,hydrog5 te*nologies applicable to #a or m end-use sectors1 su* z p[] g5]ation1 transportation1 aviation1 /orage1 indu/rial1 & *emicals1 includ+ hydrog5 fuel4 7l7 ,te*nical assi/ance 7#a7 ,9 g5]al ,! ,secret>y & ! ,national ,laboratories may provide te*nical assi/ance "u ! ,,hifia pilot program to assess ! grad+ & read9ess ( exi/+ infra/ructure to transport1 /ore1 or deliv] hydrog5 ) respect to in=mal ,/ate & regional plann+ = inve/m5ts 9 t grad+ & read9ess4 7#b7 ,priority ,9 provid+ te*nical assi/ance "u p>agraph 7#a71 ! ,secret>y & ! ,national ,laboratories %all prioritize-- 7,a7 preexi/+ infra/ructure corridors2 7,b7 geologic /orage pot5tial = hydrog52 & 7,c7 indu/rial clu/]s4 7m7 ,regulatory assessm5t ,to enc\rage hydrog5 transportation infra/ructure deploym5t ,n lat] ?an #bgj days aft] ! date ( enactm5t ( ?is ,act1 ea* ( ! ,f$]al ,en]gy ,regulatory ,commission1 ! ,surface ,transportation ,bo>d1 & ! ,adm9i/rator ( ! ,pipel9e & ,haz>d\s ,mat]ials ,safety ,adm9i/ration1 9 coord9ation ) ! ,secret>y1 %all-- 7#a7 assess jurisdiction ov] ! sit+1 con/ruction1 safety1 & regulation ( hydrog5 transportation infra/ructure1 includ+1 at a m9imum1 ! bl5d+ ( hydrog5 9 natural gas pipel9es2 7#b7 if t assessm5t indicates t additional au?ority is ne$$ to support ! deploym5t ( hydrog5 transportation infra/ructure1 submit to ,congress a report describ+ ! ne$$ au?ority2 & 7#c7 id5tify ! eligibility (1 & process =1 hydrog5 transportation infra/ructure to receive co/ recov]y "u ! ,,hifia pilot program ?r\gh ,commission-regulat$ rates1 ,bo>d-regulat$ rates1 or o!r applicable regulat$ rates1 z appropriate1 = ! transportation ( hydrog5 9 int]/ate comm]ce4 7n7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,secret>y to c>ry out ! ,,hifia pilot program #ajj1jjj1jjj = ea* ( fiscal ye>s #bjbd ?r\gh #bjbh4