(7) ensuring the timely commercial application of cost-effective technologies or energy production processes or systems utilizing coal which achieve—
(A) greater efficiency in the conversion of coal to useful energy when compared to currently available commercial technology for the use of coal; and
(B) the control of emissions from the utilization of coal; and
(8) ensuring the availability for commercial use of such technologies by the year 2010.
(b) DEMONSTRATION AND COMMERCIAL APPLICATION PROGRAMS.—(1) In selecting either a demonstration project or a commercial application project for financial assistance under this subtitle, the Secretary shall seek to ensure that, relative to otherwise comparable commercially available technologies or products, the selected project will meet one or more of the following criteria:
(A) It will reduce environmental emissions to an extent greater than required by applicable provisions of law.
(B) It will increase the overall efficiency of the utilization of coal, including energy conversion efficiency and, where applicable, production of products derived from coal.
(C) It will be a more cost-effective technological alternative, based on life cycle capital and operating costs per unit of energy produced and, where applicable, costs per unit of product produced.
Priority in selection shall be given to those projects which, in the judgment of the Secretary, best meet one or more of these criteria.
(2) In administering demonstration and commercial application programs authorized by this subtitle, the Secretary shall establish accounting and project management controls that will be adequate to control costs.
(3)(A) Not later than 180 days after the date of enactment of this Act, the Secretary shall establish procedures and criteria for the recoupment of the Federal share of each cost shared demonstration and commercial application project authorized pursuant to this subtitle. Such recoupment shall occur within a reasonable period of time following the date of completion of such project, but not later than 20 years following such date, taking into account the effect of recoupment on—
(i) the commercial competitiveness of the entity carrying out the project;
(ii) the profitability of the project; and
(iii) the commercial viability of the coal-based technology utilized.
(B) The Secretary may at any time waive or defer all or some portion of the recoupment requirement as necessary for the commercial viability of the project.
(4) Projects selected by the Secretary under this subtitle for demonstration or commercial application of a technology shall, in the judgment of the Secretary, be capable of enhancing the state of the art for such technology.
(c) REPORT.—Within 240 days after the date of enactment of this Act, the Secretary shall transmit to the Committee on Energy and Commerce and the Committee on Science, Space, and Technolo-