10 September 2012
The US House of Representatives will vote on the No More Solyndras Act, HR 6213, on Friday, 14 September.
The bill would prohibit the US Energy Department (DOE) from issuing loan guarantees for applications it received after the end of 2011 and set new parameters for existing ones.
Solyndra filed for bankruptcy in 2011 after receiving a $535 million federal loan guarantee.
The DOE has warned that the bill will not improve taxpayer protections, and the nonpartisan Congressional Budget Office says it would cost about $1 million over the 2013-2017 period to implement law if it passes.
Although the Republican-controlled House is expected to approve HR 6213, the bill is unlikely to pass the Democratic-controlled Senate.
