Tuesday, December 23, 2008

What is ATVM?


    (a) Definitions- In this section:
      (1) ADVANCED TECHNOLOGY VEHICLE- The term `advanced technology vehicle' means a light duty vehicle that meets--
        (A) the Bin 5 Tier II emission standard established in regulations issued by the Administrator of the Environmental Protection Agency under section 202(i) of the Clean Air Act (42 U.S.C. 7521(i)), or a lower-numbered Bin emission standard;
        (B) any new emission standard in effect for fine particulate matter prescribed by the Administrator under that Act (42 U.S.C. 7401 et seq.); and
        (C) at least 125 percent of the average base year combined fuel economy for vehicles with substantially similar attributes.
      (2) COMBINED FUEL ECONOMY- The term `combined fuel economy' means--
        (A) the combined city/highway miles per gallon values, as reported in accordance with section 32904 of title 49, United States Code; and
        (B) in the case of an electric drive vehicle with the ability to recharge from an off-board source, the reported mileage, as determined in a manner consistent with the Society of Automotive Engineers recommended practice for that configuration or a similar practice recommended by the Secretary.
      (3) ENGINEERING INTEGRATION COSTS- The term `engineering integration costs' includes the cost of engineering tasks relating to--
        (A) incorporating qualifying components into the design of advanced technology vehicles; and
        (B) designing tooling and equipment and developing manufacturing processes and material suppliers for production facilities that produce qualifying components or advanced technology vehicles.
      (4) QUALIFYING COMPONENTS- The term `qualifying components' means components that the Secretary determines to be--
        (A) designed for advanced technology vehicles; and
        (B) installed for the purpose of meeting the performance requirements of advanced technology vehicles.
    (b) Advanced Vehicles Manufacturing Facility- The Secretary shall provide facility funding awards under this section to automobile manufacturers and component suppliers to pay not more than 30 percent of the cost of--
      (1) reequipping, expanding, or establishing a manufacturing facility in the United States to produce--
        (A) qualifying advanced technology vehicles; or
        (B) qualifying components; and
      (2) engineering integration performed in the United States of qualifying vehicles and qualifying components.
    (c) Period of Availability- An award under subsection (b) shall apply to--
      (1) facilities and equipment placed in service before December 30, 2020; and
      (2) engineering integration costs incurred during the period beginning on the date of enactment of this Act and ending on December 30, 2020.
    (d) Direct Loan Program-
      (1) IN GENERAL- Not later than 1 year after the date of enactment of this Act, and subject to the availability of appropriated funds, the Secretary shall carry out a program to provide a total of not more than $25,000,000,000 in loans to eligible individuals and entities (as determined by the Secretary) for the costs of activities described in subsection (b).
      (2) APPLICATION- An applicant for a loan under this subsection shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require, including a written assurance that--
        (A) all laborers and mechanics employed by contractors or subcontractors during construction, alteration, or repair that is financed, in whole or in part, by a loan under this section shall be paid wages at rates not less than those prevailing on similar construction in the locality, as determined by the Secretary of Labor in accordance with sections 3141-3144, 3146, and 3147 of title 40, United States Code; and
        (B) the Secretary of Labor shall, with respect to the labor standards described in this paragraph, have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (5 U.S.C. App.) and section 3145 of title 40, United States Code.
      (3) SELECTION OF ELIGIBLE PROJECTS- The Secretary shall select eligible projects to receive loans under this subsection in cases in which, as determined by the Secretary, the award recipient--
        (A) is financially viable without the receipt of additional Federal funding associated with the proposed project;
        (B) will provide sufficient information to the Secretary for the Secretary to ensure that the qualified investment is expended efficiently and effectively; and
        (C) has met such other criteria as may be established and published by the Secretary.