Energy Adjustment Act

Summary

Energy Adjsutment Act - Establishes in the Department of the Treasury an Agency for Energy Adjustment to administer a guarantee program for industrial adjustment loans to enable business concerns to achieve energy efficiencies. Authorizes the Federal Government to guarantee the principal and interest of loans made for the following purposes: (1) installation of energy-saving production equipment; (2) conversion from industrial usage of petroleum and natural gas to more abundant forms of energy; and (3) conversion to other lines of products and services less dependent on high energy usage. Grants borrowers a priority under the Federal energy allocation programs to insure that plants are able to continue production during the conversions. Provides for loan guarantees of up to one and a half billion dollars over the next 18 months.

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• Introduced in Senate

  summary · EN · 14 December 1973

  Open at official source

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