The draft Auto Bailout Bill is out and unless you are opposed to the entire concept, the bill is pretty good.
The program is overseen by one Presidential designee, with no Senate confirmation, who serves at the pleasure of the President. The funds are to be provided as loans and come from the appropriations already made for technology improvements.
a) FINANCIALASSISTANCE.— IN GENERAL.—For the purpose of providing funds to the President’s designee for financial assistance under this Act, the Secretary of Energy shall make available to the President’s designee funds made available under section 129 of division A of the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009, relating to funding for the manufacture of advanced technology vehicles, including State standards established pursuant to the Energy Independence and Security Act of 2007.