Detailed Summary

Reenergize America Loan Program Act of 2009 - Establishes: (1) within the Department of Energy (DOE) the Reenergize America Loan Program, under which the Secretary of Energy shall allocate funds to states for use in providing zero-interest loans to qualified persons to carry out residential, commercial, industrial, and transportation energy efficiency and renewable generation projects contained in approved state energy conservation plans; and (2) the Reenergize America Loan Program Fund.

Requires the Secretary, in allocating funds, to consider: (1) the likely energy savings and renewable energy potential of the plans; (2) regional energy needs; and (3) the equitable distribution of funds among regions.

Requires states that seek to receive allocations to: (1) submit to the Secretary a five-year plan for the administration and distribution of funds; (2) agree to annual audits; and (3) reapply for a subsequent allocation at the end of the five-year period. Limits the amount of a loan provided by a state to $5 million and the term of a loan to four years.

Authorizes states that receive allocations to: (1) impose on loan recipients a fee to cover the costs incurred by the state in administering the loan; and (2) retain the return of principal from loans for the purpose of making additional loans.

Status of the Legislation

Latest Major Action: 5/20/2009: Referred to Senate committee. Status: Read twice and referred to the Committee on Energy and Natural Resources.

Points in Favor

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Points Against

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