Reuters (May 21, 2007) reports that the House Agriculture Committee is considering a bioenergy package that  would authorize a total of $4.5 billion for biomass research and loan guarantees to biofacilities through fiscal 2012. The package proposes $2 billion in loans and guarantees to construct at least 14 ethanol plants.

These are big facilities. According to the article,  the package would “allow $1 billion for projects costing up to $100 million each and $1 billion for projects costing $100 million to $250 million each.”

Guarantees could cover up to 90 percent of the principal and interest, according to a draft of the legislation.

Another $2.5 billion would fund bioenergy and biomass research and development.