Energy & Clean Technology Alert - USDA 9003 Advanced Biofuel/Bioproduct Loan Guarantee Program Interim Final Rule & FY2011 NOFA

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On February 14, acting upon the significant input of Mintz Levin’s Mark J. Riedy, Stern Brothers’ John May, and Krieg DeVault’s John Kirkwood, the U.S. Department of Agriculture (USDA) published its interim final rule for the 9003 Advanced Biofuel Guaranteed Loans program. The USDA’s interim final rule ushered in a host of changes to address the larger issue of making this debt more attractive to investors. Although entirely operative, this interim final rule, however, is not the final rule and a formal comment period ends April 15, 2011 to achieve that end.

The new interim final rule incorporates, among other substantial changes, a unique new bondfinancing mechanism created by Mintz Levin, Stern Brothers, and Krieg DeVault that should serve to enhance the program’s ability to link investors with capital constrained advanced biofuel and bioproduct refineries. Also, on March 11, 2011, the USDA issued the Section 9003 fiscal year 2011 Notice of Funds Availability (NOFA).

Please see full article below for more information.

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Topics:  Biofuel, Clean Tech, Loans, USDA

Published In: Administrative Agency Updates, Agriculture Updates, Energy & Utilities Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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