[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5395 Introduced in House (IH)]








109th CONGRESS
  2d Session
                                H. R. 5395

  To authorize the Secretary of the Treasury to issue Energy Freedom 
Bonds to finance programs to facilitate the research, development, and 
           deployment of clean renewable energy technologies.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 16, 2006

  Mr. Israel introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To authorize the Secretary of the Treasury to issue Energy Freedom 
Bonds to finance programs to facilitate the research, development, and 
           deployment of clean renewable energy technologies.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Energy Freedom Bonds Act of 2006''.

SEC. 2. ENERGY FREEDOM BONDS.

    Section 3105 of title 31, United States Code, is amended by adding 
at the end the following new subsection:
    ``(f)(1) The Secretary may designate one or more series of bonds or 
certificates (or any portion thereof) issued under this section as 
`Energy Freedom Bonds'.
    ``(2) The proceeds from any portion of a series of bonds or 
certificates which is designated under this subsection shall be used 
only for expenditures under programs to facilitate the research, 
development, or deployment of technologies utilizing solar heat, solar 
light, wind, geothermal energy, and biomass, except for--
            ``(A) heat from the burning of municipal solid waste; or
            ``(B) heat from a dry steam geothermal reservoir that--
                    ``(i) has no mobile liquid in its natural state;
                    ``(ii) is a fluid composed of at least 95 percent 
                water vapor; and
                    ``(iii) has an enthalpy for the total produced 
                fluid greater than or equal to 2.791 megajoules per 
                kilogram (1200 British thermal units per pound).
    ``(3) The Secretary shall annually report to Congress on the amount 
of bonds and certificates designated under this subsection and on the 
use of the proceeds of such bonds and certificates.''.
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