This bill would create a Domestic Critical Material Processing Pilot Program at the Department of Energy. The program must support at least 3 domestic projects that refine, process, or recycle critical materials into purified forms for first-use. The Secretary of Energy must issue implementing regulations within 180 days, select projects within one year, and run the pilot for no more than 5 years. The bill allows the Secretary to use "innovative financial tools" such as price supports (including contracts for difference), advanced market commitments, forward contracts, and other transaction authorities. It establishes a Critical Materials Revolving Fund to reinvest revenue from supported projects. The bill requires coordination with other agencies, annual reports to relevant congressional committees, and a study within two years after the pilot ends on the effects of the financial tools and program outcomes.
If enacted, the Department of Energy would run a short-term program to help some domestic facilities process and recycle critical materials. The program would prioritize projects that use feedstock from domestic or reliable sources. The Department could enter into various financial agreements to support projects and could reinvest project revenue through a revolving fund. The program may affect companies that mine, process, or recycle critical materials, and it would generate annual reports and a final study for Congress.
The bill authorizes $750,000,000 to carry out the Act, to remain available until expended. It also creates the Critical Materials Revolving Fund in the Treasury to reinvest amounts generated from eligible projects into new projects. No other cost estimates or budget impacts are provided in the bill text.
The bill states its purposes as supporting domestic critical material processing, reducing supply chain vulnerabilities, enhancing energy and national security, and testing the effectiveness of innovative financial tools to attract private investment and build more transparent markets.
No publicly available information.