109 HR 5395 IH: Energy Freedom Bonds Act of U.S. House of Representatives 2006-05-16 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 109th CONGRESS 2d Session H. R. 5395 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.

1.

Short title

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

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. .