1.Short
title; table of contents
(a)This Act may be cited
as the Clean Energy Development for a
Growing Economy Act of 2006
or the Clean EDGE Act
of 2006
.
(b)The table of contents of this Act is as follows:
Sec. 1. Short title; table of
contents.
Sec. 2. Findings and purposes.
TITLE I—Reducing our addiction to oil
Subtitle A—Reducing oil consumption by 2020
Sec. 101. Setting a national oil savings goal.
Subtitle B—Biofuels infrastructure
Sec. 111. Modification of alternative fuel vehicle refueling
property credit.
Sec. 112. Alternative fuel-related standards.
Sec. 113. Accelerating conversion to alternative fuels
infrastructure.
Sec. 114. Low- interest loan program for farmer-owned retail
delivery of alternative fuels.
Sec. 115. Extension of biodiesel income and excise tax
credits.
Sec. 116. Small ethanol producer credit expanded for producers
of sucrose and cellulosic ethanol.
Sec. 117. Incentives to produce transportation fuels from
cellulosic biomass.
Sec. 118. Alternative fuels investment by major oil companies
and vehicle manufacturers.
Subtitle C—Flexible fuel vehicle market
penetration
Sec. 121. Credit for production of qualified flexible fuel
vehicles.
Sec. 122. Ensuring availability of flexible fuel
vehicles.
Sec. 123. Increasing consumer awareness of flexible fuel
vehicles.
Subtitle D—25 by ’25 renewable energy and fuels vision
Sec. 131. Presidential authority to increase renewable fuel
content of motor fuels and clean energy sources.
Subtitle E—Nationwide media campaign to encourage energy
efficiency and conservation
Sec. 141. Nationwide media campaign to encourage energy
efficiency and conservation.
Subtitle F—Increasing transit use and alternative
transportation modes
Sec. 151. Transit-Oriented Development Corridors.
Sec. 152. Increasing transit utilization
incentives.
Sec. 153. Extension of transportation fringe benefit to bicycle
commuters.
TITLE II—Ensuring near-term energy affordability and empowering
American families
Subtitle A—Making gas price gouging a Federal
crime
Sec. 201. Unfair or deceptive acts or practices in commerce
related to gasoline and petroleum distillates.
Sec. 202. Enforcement under Federal Trade Commission
Act.
Sec. 203. Enforcement at retail level by State Attorneys
General.
Sec. 204. Penalties.
Sec. 205. Effect on other laws.
Subtitle B—Strengthening anti-trust enforcement in the oil and
gas industry
Sec. 211. Prohibition on unilateral withholding.
Sec. 212. Modification of merger standard in Clayton
Act.
Sec. 213. Study by the Government Accountability
Office.
Sec. 214. Joint Federal and State task force.
Subtitle C—Improving oversight of oil and gas market
speculation
Sec. 221. Short title.
Sec. 222. Reporting and recordkeeping for positions involving
energy commodities.
Subtitle D—Low income energy price relief
Sec. 231. Adjustment of standard utility allowance under the
food stamp program for high energy costs.
Sec. 232. Public housing energy cost assistance.
Sec. 233. Refundable tax credit for low-income residential
energy cost assistance.
Subtitle E—Small business and agricultural producers energy
emergency relief program
Sec. 241. Energy emergency disaster relief loans to small
business and agricultural producers.
Subtitle F—Public access to Federal alternative refueling
stations
Sec. 251. Access to Federal alternative refueling
stations.
Subtitle G—Measures to empower drivers to realize improved
fuel economy
Sec. 261. Improved labeling on new vehicle window
stickers.
Sec. 262. Tire efficiency labeling program.
Sec. 263. New vehicle options to empower drivers to reduce fuel
use.
Sec. 264. Idling reduction tax credit.
Subtitle H—Providing consumers with additional advanced
technology vehicle purchase incentives
Sec. 271. Expansion and extension of alternative motor vehicle
credit.
Sec. 272. Plug-in hybrid motor vehicle tax credit.
Subtitle I—Tax Incentives for Fuel Efficient Private
Fleets
Sec. 281. Tax credit for fuel-efficient fleets.
TITLE III— Accelerating clean fuels and electricity
Subtitle A—Guaranteeing a minimum level of renewable
electricity generation
Sec. 301. Renewable portfolio standard.
Subtitle B—Facilitating home energy generation through net
metering and interconnection standards
Sec. 311. Net metering.
Subtitle C—Long term extensions and expansions for clean
energy incentives
Sec. 321. Extension of production tax credit for electricity
produced from certain renewable resources.
Sec. 322. Extension and modification of investment tax credit
with respect to solar energy property and qualified fuel cell
property.
Sec. 323. Credit for wind energy systems.
Sec. 324. Expansion of resources to wave, current, tidal, and
ocean thermal energy.
Sec. 325. Extension and expansion of credit to holders of clean
renewable energy bonds.
Sec. 326. Extension of credit for business installation of
qualified fuel cells and stationary microturbine power plants.
Sec. 327. Extension of business solar investment tax
credit.
Sec. 328. Extension of full credit for qualified electric
vehicles.
Subtitle D—Long-term extensions and expansions for energy
efficiency and conservation incentives
Sec. 331. Extension of energy efficient commercial buildings
deduction.
Sec. 332. Extension and expansion of new energy efficient home
credit.
Sec. 333. Extension of nonbusiness energy property
credit.
Sec. 334. Extension and modification of residential energy
efficient property credit.
Sec. 335. Energy credit for combined heat and power system
property.
Sec. 336. Three-year applicable recovery period for
depreciation of qualified energy management.
Sec. 337. Three-year applicable recovery period for
depreciation of qualified water submetering devices.
Subtitle E—Utilizing America’s abundant coal supplies
cleanly
Sec. 341. Clean energy coal bonds.
Sec. 342. Extension and expansion of qualifying advanced coal
project credit.
Sec. 343. Expansion of qualifying gasification project
credit.
Sec. 344. Coal-to-liquid and biomass transportation
fuels.
TITLE IV—Real government leadership for clean and secure
energy
Subtitle A—Federal biofuels and efficient vehicle use
leadership
Sec. 401. Federal agency ethanol-blended gasoline and biodiesel
purchasing requirement.
Sec. 402. Use of the existing flexible fuel vehicle fleet of
the Federal government.
Sec. 403. Standards for executive agency
automobiles.
Sec. 404. Federal fleet conservation requirements.
Subtitle B—Federal clean and efficient energy
leadership
Sec. 411. Federal leadership on clean energy
purchasing.
Sec. 412. Clean and secure backup power at Federal
facilities.
Sec. 413. Eliminating vampire electronic devices.
Sec. 414. Promoting Federal leadership in energy
management.
Sec. 415. Retention of savings from energy savings performance
contracts.
Subtitle C—State, tribal, and local clean and efficient energy
leadership
Sec. 421. Freedom from fossil fuels (F4) bonds.
Sec. 422. Clean energy security collaborative.
Sec. 423. Assistance for State programs to retire
fuel-inefficient motor vehicles.
Subtitle D—International clean energy deployment
Sec. 431. Clean energy technology deployment in developing
countries.
TITLE V—Securing a reliable, affordable, and sustainable energy
future
Subtitle A—Advanced Research Project Agency for
Energy
Sec. 501. Office of Advanced Energy Research, Technology
Development, and Deployment.
Subtitle B—Near-term vehicle technology program
Sec. 505. Near-term vehicle technology program.
Subtitle C—Advanced technology motor vehicles manufacturing
credit
Sec. 511. Advanced technology motor vehicles manufacturing
credit.
Subtitle D—Realizing a hydrogen future
Sec. 521. H-Prize competition.
Sec. 522. Credit for retail sale of hydrogen fuel as motor
vehicle fuel.
Sec. 523. Credit for production of hydrogen fuel.
Sec. 524. Tax holiday for hydrogen fuel.
Sec. 525. Sense of Congress regarding hydrogen fuel
taxes.
Sec. 526. Hydrogen fueling fringe benefit.
Sec. 527. Exclusion of earnings from hydrogen fuel
sales.
Subtitle E—Building the skilled workforce for advanced vehicle
and energy technology deployment
Sec. 531. Increasing skilled workforce.
Sec. 532. Grant program for green building and zero-energy home
design and construction training.
Subtitle F—Clean Energy Investment Administration
Sec. 541. Definitions.
Sec. 542. Clean Energy Investment Administration.
Sec. 543. Requirements specific to demonstration projects and
commercial deployment projects.
Sec. 544. Loan guarantee program.
Sec. 545. Energy park task forces.
Sec. 546. Authorization of appropriations.
Subtitle G—Strategic Gasoline and Fuel Reserve
Sec. 548. Strategic Gasoline and Fuel Reserve.
Subtitle H—Reports on United States energy emergency
preparedness
Sec. 551. Potential impacts of oil supply shock.
Sec. 552. Preventing future disruptions.
Subtitle J—Impacts of Act on reducing greenhouse gas
emissions
Sec. 561. Climate change and energy policy feedback
loop.
Subtitle K—Energy fairness for America
Sec. 571. Elimination of deduction for intangible drilling and
development costs for major oil companies.
Sec. 572. Elimination of enhanced oil recovery credit for major
oil companies.
Sec. 573. Oil and gas royalty-related amendments.
Sec. 574. Extension of election to expense certain
refineries.
Sec. 575. Elimination of amortization of geological and
geophysical expenditures for major oil companies.
Sec. 576. Revaluation of LIFO inventories of major integrated
oil companies.
Sec. 577. Modifications of foreign tax credit rules applicable
to major integrated oil companies which are dual capacity
taxpayers.
Sec. 578. Denial of deduction for income attributable to
domestic production of oil, natural gas, or primary products
thereof.
Sec. 579. Rules relating to foreign oil and gas
income.
Sec. 580. Elimination of deferral for foreign oil and gas
extraction income.
Subtitle L—Protection and retention of value of publicly-owned
energy resources
Sec. 591. Suspension of royalty relief.
Sec. 592. Renegotiation of existing leases.
2.
(a)Congress
finds that—
(1)in his State of
the Union address during January 2006, President George W. Bush acknowledged
that we have a serious problem: America is addicted to
oil
;
(2)the near-total
reliance of the transportation sector and the military of the United States on
crude oil, coupled with the growing dependence of the United States on foreign
oil imports, makes the economy and national security of the United States
dangerously subject to the willingness of other countries to provide adequate
and affordable energy supplies;
(3)world demand for
crude oil and petroleum products will continue increasing, and the bulk of the
remaining oil and natural gas reserves of the world are controlled by countries
that are members of the anti-competitive cartel of the Organization of the
Petroleum Exporting Countries (OPEC);
(4)terrorists have
identified oil supply dependency as a strategic vulnerability and have
increased attacks against oil infrastructure worldwide and the critical energy
infrastructure of the United States is also at risk from hurricanes, natural
disasters, and a lack of public and private investment;
(5)in 2005,
consumers in the United States sent more than $230,000,000,000 overseas to pay
for oil and energy products, exacerbating the trade deficit of the United
States, and in some cases inadvertently funding unfriendly regimes and
political groups that threaten the economic, political, and national security
interests of the United States;
(6)households in the
United States are now forced to pay an average of $1,800 more each year for
fossil fuel-derived energy than the households did 5 years ago, and energy
expenditures (as a percentage of the gross domestic product) have been higher
than the expenditures have been in the last 20 years;
(7)environmentally-sound
technology solutions already exist to substantially increase the productivity,
efficiency, and variety of domestic energy supplies, including nonpetroleum
alternatives (such as biofuels);
(8)instituting
simple but cost-effective energy efficiency and conservation measures can
improve the economic competitiveness of the United States and quickly lessen
energy costs for families in the United States, all at costs significantly
lower than developing new energy production capacity;
(9)increasing total
Federal research and development funding and deployment efforts for energy
conservation, renewable and alternative energy resources, and energy efficiency
and vehicle technology, which have largely been stagnant for the last 5 years,
could swiftly bring down energy costs, increase job creation, and create a
major new source of high-value exports; and
(10)as the largest
single energy consumer in the United States, the Federal government has both a
tremendous opportunity and a clear responsibility to lead by example and
provide guaranteed markets that allow industry to invest in and produce clean
energy technologies.
(b)The
purposes of this Act are—
(1)to improve the
national, economic, and environmental security of the United States by rapidly
reducing foreign oil imports and oil consumption and creating viable
alternative fuel options;
(2)to protect and
empower consumers and the economy by making energy supplies affordable, stable,
and reliable, providing consumers in the United States with tools to reduce
their own energy use, and preventing market manipulation and
price-gouging;
(3)to create jobs
and economic growth through accelerated domestic clean energy technology
deployment and better targeted investments and long-term tax incentives;
(4)to expedite the
use of the buying power of the Federal Government to leverage and expand
markets for clean energy products, buildings, and vehicles;
(5)to make the
United States significantly more energy independent and provide the United
States with an economic, environmental, and national security edge that is
essential to maintaining the international competitiveness of, and quality of
life in, the United States; and
(6)to reduce total
greenhouse gas emissions to lower the risk of potentially devastating,
wide-ranging impacts associated with global warming.
<enum>I</enum><header>Reducing our
addiction to oil</header>
<subtitle id="idDF75ABA944E0468C914A26920A1139C6"><enum>A</enum><header>Reducing oil
consumption by 2020</header>
<section id="IDecc21bacd0cb4dc78ae836c9fa6f4d62"><enum>101.</enum><header>Setting a
national oil savings goal</header>
<subsection id="ID4a645a23c33542e0b5a2b410b06864ad"><enum>(a)</enum><header>Goal</header><text>It
is a goal of the United States to reduce the quantity of oil projected to be
imported in 2020 by 40 percent.</text>
</subsection><subsection id="IDfeb8ded8a3c1488b9b4ceff464a345ca"><enum>(b)</enum><header>Measures to
reduce import dependence</header>
<paragraph id="ID00499fc8a21a43dfadb7ed50d302d2a0"><enum>(1)</enum><header>In
general</header><text>Subject to paragraph (2), not later than 1 year after the
date of enactment of this Act, and every other year thereafter, the President
shall develop and implement measures to reduce the dependence of the United
States on foreign petroleum imports by reducing petroleum in end-uses
throughout the economy of the United States in a manner that is sufficient to
reduce the total demand for petroleum in the United States by—</text>
<subparagraph id="IDb21d27de25e94888aec26a1e8d8bc773"><enum>(A)</enum><text>1,000,000 barrels
per day from the quantity projected for calendar year 2015; and</text>
</subparagraph><subparagraph id="IDdae08f643b9a4fec8643510c0545e6e8"><enum>(B)</enum><text>6,000,000 barrels
per day from the quantity projected for calendar year 2020.</text>
</subparagraph></paragraph><paragraph commented="no" id="IDa565031bc722449987dcf4dd97c831fe"><enum>(2)</enum><header>Insufficient
legal authorities</header><text>If the President determines that there are
insufficient legal authorities to achieve the target for calendar year 2020
described in paragraph (1)(B), the President shall—</text>
<subparagraph commented="no" id="id3D22572264C640F69A979FE808A8C83A"><enum>(A)</enum><text>develop and
implement measures that will reduce the dependence of the United States on
foreign petroleum imports by reducing petroleum in end-uses throughout the
economy of the United States to the maximum extent practicable; and</text>
</subparagraph><subparagraph commented="no" id="idE614BBE4652440A9B29F4E2175A22E67"><enum>(B)</enum><text>submit to
Congress proposed legislation or other recommendations to achieve the
target.</text>
</subparagraph></paragraph></subsection><subsection id="ID5c1f074331654dd4bed822023cd31b2d"><enum>(c)</enum><header>Requirements</header><text>In
developing measures under subsection (b), the President shall—</text>
<paragraph id="ID03d066b90c1f4c38984a910c87387aae"><enum>(1)</enum><text>ensure continued
reliable and affordable energy for the United States, consistent with creating
jobs and economic growth and maintaining the international competitiveness of
United States businesses, including the manufacturing sector; and</text>
</paragraph><paragraph id="ID355d125aeb1d4a8e9a80f6203cf5c856"><enum>(2)</enum><text>implement the
measures under existing authorities of appropriate Federal agencies, as
determined by the President.</text>
</paragraph></subsection><subsection id="ID303107b91bc445dabf8b4e234aa2a12a"><enum>(d)</enum><header>Projections</header><text>The
projections for total demand for petroleum in the United States under
subsection (b) shall be based on the projections made in the Reference Case in
the report of the Energy Information Administration entitled <quote>Annual
Energy Outlook 2006</quote>.</text>
</subsection><subsection id="ID7bf631143a2f466dac52527ce4edb7e7"><enum>(e)</enum><header>Report</header>
<paragraph id="IDe8b4d35cab4e4248bdde805cfbd777d1"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Not later than 1 year
after the date of enactment of this Act, and annually thereafter, the President
shall submit to Congress a report, based on the most recent edition of the
Annual Energy Outlook published by the Energy Information Administration,
assessing the progress made by the United States toward the goal of reducing
dependence on imported petroleum sources by 2025 described in subsection
(a).</text>
</paragraph><paragraph id="ID4c1f9567a5c14148be84ed80c6592e00"><enum>(2)</enum><header>Contents</header><text>The
report shall—</text>
<subparagraph id="IDcf04cefcb662422bb98f03f585f84130"><enum>(A)</enum><text>identify the
status of efforts to meet the goal described in subsection (a);</text>
</subparagraph><subparagraph id="ID40bb22abe79c4a609d1b483a2978faed"><enum>(B)</enum><text>assess the
effectiveness of any measure implemented under subsection (b) during the
previous fiscal year in meeting the goal described in subsection (a);
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID7fb73c2998164e269aee3e141d00926c"><enum>(C)</enum><text>describe plans to
develop additional measures to meet the goal.</text>
</subparagraph></paragraph></subsection></section></subtitle><subtitle id="id7FC324A8D18A42208B59E1E8977C003E"><enum>B</enum><header>Biofuels
infrastructure</header>
<section id="id8E309C0EAE2C4009B583E0E3E890179A"><enum>111.</enum><header>Modification
of alternative fuel vehicle refueling property credit</header>
<subsection id="idD1F8F4AF17F94A19BD7E5FB617D3E260"><enum>(a)</enum><header>Increase in
credit amount</header><text>Section 30C of the Internal Revenue Code of 1986
(relating to alternative fuel vehicle refueling property credit) is
amended—</text>
<paragraph id="id99369AE9E6DD4CFD82CDAE6CF882A6E3"><enum>(1)</enum><text>by striking
<quote>30 percent</quote> in subsection (a) and inserting <quote>50
percent</quote>, and</text>
</paragraph><paragraph id="id79A3BD699AB647B18E9F58884F7A8642"><enum>(2)</enum><text>by striking
<quote>$30,000</quote> in subsection (b)(1) and inserting
<quote>$50,000</quote>.</text>
</paragraph></subsection><subsection id="idF59DBBA8461146A99E748CB4534D6427"><enum>(b)</enum><header>Credit allowed
for electric drive transportation property</header><text>Paragraph (1) of
section 30C(c) of the Internal Revenue Code of 1986 (relating to qualified
alternative fuel vehicle refueling property) is amended by striking <quote>,
but only with respect to any fuel</quote> and inserting <quote>, except that in
the case of property described in paragraph (3)(A) thereof, only with respect
to fuels</quote>.</text>
</subsection><subsection id="idF7E861EA66CB4AA291BF8F9419F374C6"><enum>(c)</enum><header>Extension of
credit</header><text>Subsection (g) section 30C of the Internal Revenue Code of
1986 (relating to termination) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idC3538485AC414988853184F219331376" style="OLC">
<subsection id="id840C65A83B734766A5F3E02F7B8E2687"><enum>(g)</enum><header>Termination of
availability of credit</header><text>This section shall not apply to property
placed in service after the earlier of December 31, 2014, or the date after
which more than 20,000 alternative refueling properties have been installed
through use of this
credit.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idCC8375E03A5B4B6AA5CC8C99A76E7E74"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act, in taxable years
ending after such date.</text>
</subsection></section><section id="ID16e3ae9c7013416b98ee5bc9a49f71f4"><enum>112.</enum><header>Alternative
fuel-related standards</header>
<subsection id="id4F3C9D4D8B7D406AA0BE9F3047440A42"><enum>(a)</enum><header>Definition of
Secretary</header><text>In this section, the term <term>Secretary</term> means
the Secretary of Energy, acting—</text>
<paragraph id="idF53B3D6FD9884E39A5784C24BE4183BD"><enum>(1)</enum><text>in consultation
with—</text>
<subparagraph id="id44059FA74F26420DBB2630AD242C649A"><enum>(A)</enum><text>the Administrator
of the Environmental Protection Agency;</text>
</subparagraph><subparagraph id="id23DC689FFD8440D7BE2DF485C53087CF"><enum>(B)</enum><text>the Administrator
of the National Highway Traffic Safety Administration;</text>
</subparagraph><subparagraph id="id919CBB3DFCBC43959DD8717F25B9A606"><enum>(C)</enum><text>the Commissioner
of the Federal Energy Regulatory Commission;</text>
</subparagraph><subparagraph id="id7D3B3C428CF64E05A64EFC9D84317E56"><enum>(D)</enum><text>the head of the
National Association of Regulatory Utility Commissioners;</text>
</subparagraph><subparagraph id="idF768361B8F3C40C89A8A636D54862952"><enum>(E)</enum><text>the
States;</text>
</subparagraph><subparagraph id="idE5CE08A4732F41E8AC32C0C9B499ECC2"><enum>(F)</enum><text>vehicle
manufacturers;</text>
</subparagraph><subparagraph id="idDD4A363349594F5CBF90F214B03A0F49"><enum>(G)</enum><text>vehicle fuel
providers; and</text>
</subparagraph><subparagraph id="idA074A2CE4F3F4E7FB2089DD53BB3376B"><enum>(H)</enum><text>appropriate
safety organizations; and</text>
</subparagraph></paragraph><paragraph id="id63BD30E2FABB4E20B75BF6A64BF94B56"><enum>(2)</enum><text>in cooperation
with applicable voluntary standard-setting organizations.</text>
</paragraph></subsection><subsection id="id87FD53148D3146DDB481ED137B24B0B1"><enum>(b)</enum><header>Recommendations
and guidance</header><text>Not later than 1 year after the date of enactment of
this Act, after providing notice and an opportunity for public comment, the
Secretary shall publish recommendations and guidance relating to uniform
national voluntary standards for—</text>
<paragraph id="idB6988E8B66A54B46A62F145DEBBEBA2B"><enum>(1)</enum><text>alternative
fuels;</text>
</paragraph><paragraph id="id8395A46C9403418EA7D5E164AE8F1F0A"><enum>(2)</enum><text>alternative fuel
vehicles;</text>
</paragraph><paragraph id="idBC674364BCCF449A84F5FD0F43328866"><enum>(3)</enum><text>equipment and
systems relating to alternative fuels and alternative fuel vehicles; and</text>
</paragraph><paragraph id="id14B0BCF91DF844BD995C8911534BD42A"><enum>(4)</enum><text>the safety,
handling, refueling, and general use of the items described in paragraphs (1)
through (3).</text>
</paragraph></subsection><subsection id="id914ED5EF67F040878BD48CE2FF6FF936"><enum>(c)</enum><header>Review</header><text>Not
less frequently than once every 2 years, the Secretary shall—</text>
<paragraph id="id9CCA6FC429044068A3187B050D4646C5"><enum>(1)</enum><text>review the
recommendations and guidance published under subsection (b); and</text>
</paragraph><paragraph id="id75E562E10B1349D49CE751544FC45804"><enum>(2)</enum><text>modify the
recommendations and guidance to reflect applicable changes during the preceding
2 years relating to fuel systems and related technologies.</text>
</paragraph></subsection></section><section id="ID62c38ed068b5475f8c3ceceddaf36673"><enum>113.</enum><header>Accelerating
conversion to alternative fuels infrastructure</header>
<subsection id="ID8c4d7b88368f472e8845fef890d13724"><enum>(a)</enum><header>Findings</header><text>Congress
finds that—</text>
<paragraph id="IDe551b4b0dcd64b5cbc668cde68bd19b1"><enum>(1)</enum><text>as of the date of
enactment of this Act, an estimated 5,000,000 to 6,000,000 flexible-fuel
vehicles are on roads in the United States;</text>
</paragraph><paragraph id="ID4a6e0eaf4a904a3c85ca20c3ddf3f7fd"><enum>(2)</enum><text>based on the
report of the Department of Energy entitled <quote>Transportation Energy Date
Book: Edition 25,</quote> only 740 refueling sites providing E–85 or biodiesel
existed in the United States in 2005, equivalent to less than 1 percent of
total United States refueling stations; and</text>
</paragraph><paragraph id="ID08676e0af20c473ab7163bae4463276b"><enum>(3)</enum><text>as the number of
flexible-fuel vehicles on roads in the United States increases, an increase in
the availability of alternative refueling infrastructure must occur in order to
enable the displacement of petroleum consumption.</text>
</paragraph></subsection><subsection id="ID3e36247b2c5a448c9dfff9c4989e89b0"><enum>(b)</enum><header>Goal</header><text>Congress
declares that it is the goal of the United States to increase the accessibility
of alternative fuels to retail consumers, and to ensure that at least 10
percent of motor vehicle refueling stations provide alternative fuels, by
calendar year 2015.</text>
</subsection><subsection id="ID253a726b797746948956660f5d5d89e1"><enum>(c)</enum><header>Alternative
fuel infrastructure initiative</header>
<paragraph id="IDa70e62bbcbbe47f4b72f4738b65cda9d"><enum>(1)</enum><header>In
general</header><text>Not later than 1 year after the date of enactment of this
Act, and every 2 years thereafter, the Secretary of Energy, in coordination
with the Secretary of Transportation and the Administrator of the Environmental
Protection Agency, and in consultation with State and local governments,
shall—</text>
<subparagraph id="ID9dc8bc268ac742d98cd22411cb79ebbe"><enum>(A)</enum><text>subject to
subparagraph (B), develop and implement measures to increase the accessibility
of alternative fuels to retail consumers to a level sufficient to ensure that
at least 10 percent of motor vehicle refueling stations provide alternative
fuels by calendar year 2015; and</text>
</subparagraph><subparagraph id="ID0999e173baed4d7581be341903723136"><enum>(B)</enum><text>if the Secretary
of Energy determines that there are insufficient legal authorities to achieve
the target for calendar year 2015 described in subparagraph (A)—</text>
<clause id="idBA435FA2837B494F9DD0AD976697E4A1"><enum>(i)</enum><text>develop and
implement measures to increase the accessibility of alternative fuels to retail
consumers, to the maximum extent practicable; and</text>
</clause><clause id="id090850B5EC04422A851B597587239F4B"><enum>(ii)</enum><text>submit to
Congress by January 1, 2008, proposed legislation or other recommendations to
achieve that target.</text>
</clause></subparagraph></paragraph><paragraph id="IDa2170106b4164564b2ba0549ce504f20"><enum>(2)</enum><header>Requirement for
major integrated oil companies</header>
<subparagraph id="ID4725e10822a142d9b3235f12d3274da8"><enum>(A)</enum><header>In
general</header><text>Each major integrated oil company shall install and make
available to retail consumers alternative fuels refueling infrastructure
at—</text>
<clause id="ID091edbb58e3d40c8b9f4d9bfe839ad52"><enum>(i)</enum><text>not
less than 50 percent of the motor vehicle fueling stations owned by the company
by not later than December 31, 2010; and</text>
</clause><clause id="IDe3a545cb4f3242c786f065efa09d154a"><enum>(ii)</enum><text>100 percent of
the motor vehicle refueling stations owned by the company by not later than
January 1, 2015.</text>
</clause></subparagraph><subparagraph id="ID614c65f2d2004c7d8322a66ad2dff7bb"><enum>(B)</enum><header>Means of
compliance</header><text>A major integrated oil company shall meet the
requirements of subparagraph (A) by—</text>
<clause id="IDc455f788f8d54f4ca50bbbb7616363a0"><enum>(i)</enum><text>installing
alternative refueling infrastructure at motor vehicle fueling stations;</text>
</clause><clause id="ID3c26a8167cc84da7a74d11ebf6f50989"><enum>(ii)</enum><text>purchasing
alternative refueling infrastructure credits issued under subparagraph (C);
or</text>
</clause><clause id="id59B7EEEE6EB44ED7B9D0E6B685F6D649"><enum>(iii)</enum><text>carrying out a
combination of the actions described in clauses (i) and (ii).</text>
</clause></subparagraph><subparagraph id="IDdbe100b791674b4186498c834e9e7c9a"><enum>(C)</enum><header>Alternative
refueling infrastructure credit trading program</header><text>Not later than
180 days after the date of enactment of this Act, the Secretary shall establish
a credit trading program—</text>
<clause id="id4A6896391D42434FBD8E400171E38424"><enum>(i)</enum><text>to
permit a major integrated oil company that does not install alternative
refueling infrastructure to comply with subparagraphs (A) and (B) to achieve
that compliance by purchasing sufficient alternative refueling infrastructure
credits; and</text>
</clause><clause id="ID93e493a8596348918d7beb4ce9f79886"><enum>(ii)</enum><text>under which the
Secretary shall issue alternative refueling infrastructure credits to entities
that install new alternative refueling infrastructure.</text>
</clause></subparagraph><subparagraph id="id4341A2E42D5F44BB9ADB41FECF8E13F3"><enum>(D)</enum><header>Interference
with installation of alternative refueling equipment or sale of alternative
fuel</header>
<clause id="idB87579413A65425997F5FE37D5EC8BAF"><enum>(i)</enum><header>In
general</header><text>It shall be an unfair or deceptive act or practice in
violation of section 5 of the Federal Trade Commission Act (15 U.S.C. 45) for
any person to restrain trade in alternative fuels by interfering with the
installation of alternative refueling equipment, or the sale of alternative
fuels, at any motor vehicle refueling station in the United States.</text>
</clause><clause id="id9FA55F0DDC5C42498B83CE00AAD6863C"><enum>(ii)</enum><header>Enforcement</header><text>The
Federal Trade Commission shall promulgate rules to enforce this
subparagraph.</text>
</clause></subparagraph></paragraph></subsection><subsection id="ID15d5e9e0837e4ce391738fde5528b9f5"><enum>(d)</enum><header>Enforcement</header>
<paragraph id="IDa4a69ef4fb194af28361a413dc5fb17f"><enum>(1)</enum><header>Civil
penalties</header><text>Any major integrated oil company that fails to meet the
alternative refueling infrastructure requirements of subsection (c) shall be
subject to a civil penalty.</text>
</paragraph><paragraph id="ID406b18ec831445c386139a1f6b1bd471"><enum>(2)</enum><header>Amount and
frequency of penalty</header><text>A civil penalty assessed under paragraph (1)
shall be—</text>
<subparagraph id="id5CAA920B693643EFB2E039E4D44BF3D4"><enum>(A)</enum><text>in an amount
equivalent to $1,000,000 for each motor vehicle refueling station owned by the
major integrated oil company that fails to comply with subsection (c);
and</text>
</subparagraph><subparagraph id="id46273C1382B74972A4943A09F6021A7B"><enum>(B)</enum><text>assessed for each
year during which the failure to comply occurs.</text>
</subparagraph></paragraph><paragraph id="IDe520f332bad64ae7a81012551c902d05"><enum>(3)</enum><header>Mitigation or
waiver</header><text>The Secretary may mitigate or waive a civil penalty under
this subsection, after public notice and comment, if the major integrated oil
company—</text>
<subparagraph id="idB4B2AA023DEC4306B51E1D44BFE78C5A"><enum>(A)</enum><text>was unable to
comply with subsection (c) for reasons the Secretary determines to be outside
of the reasonable control of the major integrated oil company; or</text>
</subparagraph><subparagraph id="IDc8040d400d4e43edb0e7877c3faabb28"><enum>(B)</enum><text>demonstrates to
the satisfaction of the Secretary that insufficient alternative fueled vehicles
exist within the geographic region of a motor refueling station to warrant the
installation of the infrastructure.</text>
</subparagraph></paragraph><paragraph id="ID81fa2605d9f746e0b7514f6a3b305544"><enum>(4)</enum><header>Procedure for
assessing penalty</header><text>The Secretary shall assess a civil penalty
under this subsection in accordance with the procedures prescribed by section
333(d) of the Energy Policy and Conservation Act (42 U.S.C. 6303(d)).</text>
</paragraph></subsection><subsection id="ID5dec4da82480407d9a8867e22bd56979"><enum>(e)</enum><header>Infrastructure
pilot program for alternative fuels</header>
<paragraph id="IDfd57840097474e798bc8a70235a5778d"><enum>(1)</enum><header>In
general</header><text>The Secretary of Energy, in consultation with the
Secretary of Transportation and the Administrator of the Environmental
Protection Agency (referred to in this subsection as the
<term>Secretary</term>), shall establish a competitive grant pilot program
(referred to in this subsection as the <term>pilot program</term>), to be
administered through the Clean Cities Program of the Department of Energy, to
provide not more than 10 geographically-dispersed project grants to State
governments, local governments, metropolitan transportation authorities, or
partnerships of those entities to carry out 1 or more projects for the purposes
described in paragraph (2).</text>
</paragraph><paragraph id="IDc0fce3b5c28b4a55aebe386dae5d76f6"><enum>(2)</enum><header>Grant
purposes</header><text>A grant under this subsection shall be used for the
establishment of refueling infrastructure corridors for alternative fuels along
the National Highway System, including—</text>
<subparagraph id="ID8ef481b71bb54cf5a18212bb9be546ae"><enum>(A)</enum><text>installation of
infrastructure and equipment necessary to ensure adequate distribution of
qualified alternative fuels within the corridor;</text>
</subparagraph><subparagraph id="IDecf7edeab20e443c82d26cadb9312d31"><enum>(B)</enum><text>installation of
infrastructure and equipment necessary to directly support vehicles powered by
qualified alternative fuels; and</text>
</subparagraph><subparagraph id="ID927bf028a6ea42baac0a5182a1912f63"><enum>(C)</enum><text>operation and
maintenance of infrastructure and equipment installed as part of a project
funded by the grant.</text>
</subparagraph></paragraph><paragraph id="ID9d444219fa9a4b3798d737d47f7ba10b"><enum>(3)</enum><header>Applications</header>
<subparagraph id="IDadb7d4a8301749399ac8efc5b3fab50b"><enum>(A)</enum><header>Requirements</header>
<clause id="ID805d9b3417324fd9bf8d08d7b4981c97"><enum>(i)</enum><header>In
general</header><text>Subject to clause (ii), not later than 90 days after the
date of enactment of this Act, the Secretary shall issue requirements for use
in applying for grants under the pilot program.</text>
</clause><clause id="ID2885f12d3b664e03a3fdef2676970ae4"><enum>(ii)</enum><header>Minimum
requirements</header><text>At a minimum, the Secretary shall require that an
application for a grant under this subsection—</text>
<subclause id="IDa7b197442e5a4c8aafd78c7cd23d20cf"><enum>(I)</enum><text>be submitted
by—</text>
<item id="idBD77882A4E5F486794717F00EAE7895F"><enum>(aa)</enum><text>the
head of a State or local government or a metropolitan transportation authority,
or any combination of those entities; and</text>
</item><item id="id2EB57DEE6D6A43A0BFEFE60CFD3D10A1"><enum>(bb)</enum><text>a
registered participant in the Clean Cities Program of the Department of Energy;
and</text>
</item></subclause><subclause id="IDa42ec01416544ddf9ca8d290e6b5dbad"><enum>(II)</enum><text>include—</text>
<item id="ID3dc1f3461c894892bc6738667ed01125"><enum>(aa)</enum><text>a
description of the project proposed in the application, including the ways in
which the project meets the requirements of this subsection;</text>
</item><item id="ID2baeb098a7de4612a5216bd321feb4fb"><enum>(bb)</enum><text>an
estimate of the degree of use of the project, including the estimated size of
fleet of alternative fueled vehicles available within the geographic region of
the corridor;</text>
</item><item id="ID6730273b5e034953997b895d89f53ab0"><enum>(cc)</enum><text>an
estimate of the potential petroleum displaced and air pollution emissions
reduced as a result of the project, and a plan to collect and disseminate
petroleum displacement and environmental data relating to the project to be
funded under the grant, over the expected life of the project;</text>
</item><item id="ID976c5cf0b6a6461d9bdc4f45c1301449"><enum>(dd)</enum><text>a
description of the means by which the project will be sustainable without
Federal assistance after the completion of the term of the grant;</text>
</item><item id="ID02254366459a42e18931ec08dbb79cff"><enum>(ee)</enum><text>a
complete description of the costs of the project, including acquisition,
construction, operation, and maintenance costs over the expected life of the
project;</text>
</item><item id="IDad8f52c2fe6840e7b91e38efaba359b0"><enum>(ff)</enum><text>a
description of which costs of the project will be supported by Federal
assistance under this subsection; and</text>
</item><item id="IDbe11001010f74ba3b809bc809f006c0f"><enum>(gg)</enum><text>documentation to
the satisfaction of the Secretary that diesel fuel containing sulfur at not
more than 15 parts per million is available for carrying out the project, and a
commitment by the applicant to use that fuel in carrying out the
project.</text>
</item></subclause></clause></subparagraph><subparagraph id="ID44fcf26d07134ada95787b2b64511d61"><enum>(B)</enum><header>Partners</header><text>An
applicant under subparagraph (A) may carry out a project under the pilot
program in partnership with public and private entities.</text>
</subparagraph></paragraph><paragraph id="IDa00377e2a50f4e73aad4fd072ed4dd4d"><enum>(4)</enum><header>Selection
criteria</header><text>In evaluating applications under the pilot program, the
Secretary shall—</text>
<subparagraph id="ID5203415392d74b0bb5417d08ef6bf35b"><enum>(A)</enum><text>consider the
experience of each applicant with previous, similar projects; and</text>
</subparagraph><subparagraph id="ID00b97b697eea45e382d21e4668ac409d"><enum>(B)</enum><text>give priority
consideration to applications that—</text>
<clause id="IDda8cd425978442ccbcac6d49e29b0096"><enum>(i)</enum><text>are
most likely to maximize displacement of petroleum consumption and environmental
protection;</text>
</clause><clause id="ID25ccf2894a51401dbd7b514c852b684c"><enum>(ii)</enum><text>demonstrate the
greatest commitment on the part of the applicant to ensure funding for the
proposed project and the greatest likelihood that the project will be
maintained or expanded after Federal assistance under this subsection is
completed;</text>
</clause><clause id="IDf718927ffc5448adbfce5ecbe030aac4"><enum>(iii)</enum><text>represent a
partnership of public and private entities; and</text>
</clause><clause id="IDb78742f4375c44efb57f1489db04e397"><enum>(iv)</enum><text>exceed the
minimum requirements of paragraph (3)(A)(ii).</text>
</clause></subparagraph></paragraph><paragraph id="IDf3afbe39a2f84e678e58ed36403f57cd"><enum>(5)</enum><header>Pilot project
requirements</header>
<subparagraph id="IDfa385d955e644abea03d64142d39c18c"><enum>(A)</enum><header>Maximum
amount</header><text>The Secretary shall provide not more than $20,000,000 in
Federal assistance under the pilot program to any applicant.</text>
</subparagraph><subparagraph id="ID41bb560de3c9417c99466533ea58974d"><enum>(B)</enum><header>Cost
sharing</header><text>The non-Federal share of the cost of any activity
relating to qualified alternative fuel infrastructure development carried out
using funds from a grant under this subsection shall be not less than 20
percent.</text>
</subparagraph><subparagraph id="IDb5917690aefa4aa1b085b0ffe16bef5d"><enum>(C)</enum><header>Maximum period
of grants</header><text>The Secretary shall not provide funds to any applicant
under the pilot program for more than 2 years.</text>
</subparagraph><subparagraph id="ID1c50b4a1ed9f4c77aee84d3ba75aebbf"><enum>(D)</enum><header>Deployment and
distribution</header><text>The Secretary shall seek, to the maximum extent
practicable, to ensure a broad geographic distribution of project sites funded
by grants under this subsection.</text>
</subparagraph><subparagraph id="IDf92e262e945e4c0c9d8043e5cb0c8b99"><enum>(E)</enum><header>Transfer of
information and knowledge</header><text>The Secretary shall establish
mechanisms to ensure that the information and knowledge gained by participants
in the pilot program are transferred among the pilot program participants and
to other interested parties, including other applicants that submitted
applications.</text>
</subparagraph></paragraph><paragraph id="IDa36563ea128043059f53190272301a5b"><enum>(6)</enum><header>Schedule</header>
<subparagraph id="ID182661ae48f6487481ae667f5cd83e95"><enum>(A)</enum><header>Initial
grants</header>
<clause id="id89FC1E23CB8D42E681019C3E76D8F2F2"><enum>(i)</enum><header>In
general</header><text>Not later than 90 days after the date of enactment of
this Act, the Secretary shall publish in the Federal Register, Commerce
Business Daily, and such other publications as the Secretary considers to be
appropriate, a notice and request for applications to carry out projects under
the pilot program.</text>
</clause><clause id="id1B3729AB03A84DBFBD34F79EC63E9FFA"><enum>(ii)</enum><header>Deadline</header><text>An
application described in clause (i) shall be submitted to the Secretary by not
later than 180 days after the date of publication of the notice under that
clause.</text>
</clause><clause id="IDa39e0a4629a44d1b9fa24a7e13973802"><enum>(iii)</enum><header>Initial
selection</header><text>Not later than 90 days after the date by which
applications for grants are due under clause (ii), the Secretary shall select
by competitive, peer-reviewed proposal up to 5 applications for projects to be
awarded a grant under the pilot program.</text>
</clause></subparagraph><subparagraph id="IDde751a3c5c4a4e478b1362f5c72b8f07"><enum>(B)</enum><header>Additional
grants</header>
<clause id="idC609E3EAF1E1450A90A9E3B8B4B45DD1"><enum>(i)</enum><header>In
general</header><text>Not later than 2 years after the date of enactment of
this Act, the Secretary shall publish in the Federal Register, Commerce
Business Daily, and such other publications as the Secretary considers to be
appropriate, a notice and request for additional applications to carry out
projects under the pilot program that incorporate the information and knowledge
obtained through the implementation of the first round of projects authorized
under the pilot program.</text>
</clause><clause id="idD5EE3C90DE654B579243DA7805A76BC8"><enum>(ii)</enum><header>Deadline</header><text>An
application described in clause (i) shall be submitted to the Secretary by not
later than 180 days after the date of publication of the notice under that
clause.</text>
</clause><clause id="id4EFD586FC49A4D3A9D159DAACA0005CD"><enum>(iii)</enum><header>Initial
selection</header><text>Not later than 90 days after the date by which
applications for grants are due under clause (ii), the Secretary shall select
by competitive, peer-reviewed proposal such additional applications for
projects to be awarded a grant under the pilot program as the Secretary
determines to be appropriate.</text>
</clause></subparagraph></paragraph><paragraph id="ID6f0d8a3472324577a2d9281c3c38ab69"><enum>(7)</enum><header>Reports to
Congress</header>
<subparagraph id="IDbdcea0c1c5894d85b71d63c01d6c9e5a"><enum>(A)</enum><header>Initial
report</header><text>Not later than 60 days after the date on which grants are
awarded under this subsection, the Secretary shall submit to Congress a report
containing—</text>
<clause id="IDd598023efe8b489d9ac26290249b071e"><enum>(i)</enum><text>an
identification of the grant recipients and a description of the projects to be
funded under the pilot program;</text>
</clause><clause id="IDbfb58d8363ab400fa0bd28af97fd50b1"><enum>(ii)</enum><text>an
identification of other applicants that submitted applications for the pilot
program but to which funding was not provided; and</text>
</clause><clause id="ID2c219cd22f614437971ad27762037708"><enum>(iii)</enum><text>a
description of the mechanisms used by the Secretary to ensure that the
information and knowledge gained by participants in the pilot program are
transferred among the pilot program participants and to other interested
parties, including other applicants that submitted applications.</text>
</clause></subparagraph><subparagraph id="IDfdf6632615f84c6785febc6022099043"><enum>(B)</enum><header>Evaluation</header><text>Not
later than 2 years after the date of enactment of this Act, and annually
thereafter until the termination of the pilot program, the Secretary shall
submit to Congress a report containing an evaluation of the effectiveness of
the pilot program, including an assessment of the petroleum displacement and
benefits to the environment derived from the projects included in the pilot
program.</text>
</subparagraph></paragraph><paragraph id="IDc08322e1446f481e89480c10fd7602bd"><enum>(8)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to the
Secretary to carry out this subsection $200,000,000, to remain available until
expended.</text>
</paragraph></subsection></section><section id="ID411b3492a84b40688bd645d382e3ccdb"><enum>114.</enum><header>Low- interest
loan program for farmer-owned retail delivery of alternative fuels</header>
<subsection id="ID0f7e62b1b980427099a337cb29580eb4"><enum>(a)</enum><header>Purposes of
loans</header><text>Section 312(a) of the Consolidated Farm and Rural
Development Act (7 U.S.C. 1942(a)) is amended—</text>
<paragraph id="ID520d8ecdd3d147798d631a488563674f"><enum>(1)</enum><text>in paragraph
(9)(B)(ii), by striking <quote>or</quote> at the end;</text>
</paragraph><paragraph id="IDb55b98941bf64955ac0d8f5e25193d6b"><enum>(2)</enum><text>in paragraph
(10), by striking the period at the end and inserting <quote>; or</quote>;
and</text>
</paragraph><paragraph id="ID1111a5504ff4418790982d28cf9fa152"><enum>(3)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="idEE9D2C13F5C3497695FB10021C58C10A" style="OLC">
<paragraph id="ID5fde97d9d8f84c5aa7f9a3a883bd2dea"><enum>(11)</enum><text>building
infrastructure, including pump stations, for the retail delivery to consumers
of any alternative
fuel.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID66acdc320fff4d6fa67abb289619100b"><enum>(b)</enum><header>Program</header><text>Subtitle
B of the Consolidated Farm and Rural Development Act (7 U.S.C. 1941 et seq.) is
amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id4AA291AF1B7D4359830FAD7074BD1D2B" style="OLC">
<section id="ID3eb1f284f8654285a4f8ed2ddfa11f11"><enum>320.</enum><header>Low-interest
loan program for farmer-owned retail delivery of alternative fuels</header>
<subsection id="IDa178dad42ca346d9b71107fd835f623c"><enum>(a)</enum><header>In
general</header><text>The Secretary shall establish a low-interest loan program
to assist farmer-owned alternative fuel producers (including cooperatives and
limited liability corporations) to develop and build infrastructure, including
pump stations, for the retail delivery to consumers of any alternative
fuel.</text>
</subsection><subsection id="ID7495d94a592b4d66832c3f21e7a18918"><enum>(b)</enum><header>Terms</header>
<paragraph id="ID47695bf7e6d64827b73d0b79bdf9000d"><enum>(1)</enum><header>Interest
rate</header><text>A low-interest loan under this section shall have a fixed
interest rate of no more than 5 percent for each year.</text>
</paragraph><paragraph id="IDf1abbbf21cdb4247af967ac4c9d151e7"><enum>(2)</enum><header>Amortization</header><text>The
repayment of a loan under this section shall be amortized over the expected
life of the infrastructure project that is being financed with the proceeds of
the loan.</text>
</paragraph></subsection><subsection id="IDd2378218a10e4ded8ea61378f89d26bc"><enum>(c)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated such
sums as are necessary to carry out this section.</text>
</subsection><subsection id="ID4f1ae759d8674ff1898d113dcd17698b"><enum>(d)</enum><header>Regulations</header><text>As
soon as practicable after the date of enactment of this Act, the Secretary of
Agriculture shall promulgate such regulations as are necessary to carry out the
amendments made by this
section.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID296424ecac1e4b6baca8131189f1bd89"><enum>115.</enum><header>Extension of
biodiesel income and excise tax credits</header>
<subsection id="ID142e206aa6b340d19c023707d0e9f831"><enum>(a)</enum><header>In
general</header><text>Sections 40A(g), 6426(c)(6), and 6427(e)(5)(B) of the
Internal Revenue Code of 1986 are each amended by striking <quote>2008</quote>
and inserting <quote>2014</quote>.</text>
</subsection><subsection id="IDc61b416d7f6a4a8b93ea316e0e8c6fbd"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect on
January 1, 2009.</text>
</subsection></section><section id="IDA4BBA634B27D4F9FA971D83B8B63F0FB"><enum>116.</enum><header>Small ethanol
producer credit expanded for producers of sucrose and cellulosic
ethanol</header>
<subsection id="ID487C061F8C564C8ABB01B7BAFFEE6051"><enum>(a)</enum><header>In
general</header><text>Subparagraph (C) of section 40(b)(4) of the Internal
Revenue Code of 1986 (relating to small ethanol producer credit) is amended by
inserting <quote>(30,000,000 gallons for any sucrose or cellulosic ethanol
producer)</quote> after <quote>15,000,000 gallons</quote>.</text>
</subsection><subsection id="IDF0894F8D305C41AB8DD76C91E36019C3"><enum>(b)</enum><header>Sucrose or
cellulosic ethanol producer</header><text>Section 40(b)(4) of the Internal
Revenue Code of 1986 is amended by adding at the end the following new
subparagraph:</text>
<quoted-block id="ID526EDFD9342D4E3E9E02900A9FDD41AC" style="OLC">
<subparagraph id="ID3D0211510D6B486C8DEB91919CE2F131"><enum>(E)</enum><header>Sucrose or
cellulosic ethanol producer</header>
<clause id="IDAC373EC1F1364D7AABCE72FA27737C7F"><enum>(i)</enum><header>In
general</header><text>For purposes of this paragraph, the term <term>sucrose or
cellulosic ethanol producer</term> means a producer of ethanol using sucrose
feedstock or cellulosic feedstock.</text>
</clause><clause id="ID457A64129EA44AA2851F6034270D0E81"><enum>(ii)</enum><header>Sucrose
feedstock</header><text>For purposes of clause (i), the term <term>sucrose
feedstock</term> means any raw sugar, refined sugar, or sugar equivalents
(including juice and extract). Such term does not include any molasses, beet
thick juice, or other similar products as determined by the
Secretary.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDF0F8AEB22CCA421BA3BC2BC2ECE75A2D"><enum>(c)</enum><header>Conforming
amendments</header>
<paragraph id="ID1CDA504B905846AE890CBE8588D3818C"><enum>(1)</enum><text>Section 40(g)(2)
of the Internal Revenue Code of 1986 is amended by striking <quote>15,000,000
gallon limitation</quote> and inserting <quote>15,000,000 and 30,000,000 gallon
limitations</quote>.</text>
</paragraph><paragraph id="IDAE8800EBBDC84302BC9C4BF241B597EE"><enum>(2)</enum><text>Section
40(g)(5)(B) of such Code is amended by striking <quote>15,000,000
gallons</quote> and inserting <quote>the gallon limitation under subsection
(b)(4)(C)</quote>.</text>
</paragraph></subsection><subsection id="ID3D7B59EC754E4C5B8DE904F5F02E1FAD"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after the date of the enactment of this Act.</text>
</subsection></section><section id="IDAE94A263FAED431FA72AB9EA89B5C3AD"><enum>117.</enum><header>Incentives to
produce transportation fuels from cellulosic biomass</header>
<subsection id="IDE2363080355F40AAA8B406B6C3A0BF8A"><enum>(a)</enum><header>Fuel From
Cellulosic Biomass</header>
<paragraph id="ID16CE5392BF4C4D0398547009B47ADC8B"><enum>(1)</enum><header>In
general</header><text>The Secretary of Energy (referred to in this section as
the <quote>Secretary</quote>) shall provide deployment incentives under this
subsection to encourage a variety of projects to produce transportation fuel
from cellulosic biomass, relying on different feedstocks in different regions
of the United States.</text>
</paragraph><paragraph id="IDA6E8BF0BAE0F47D2824886FCF204C235"><enum>(2)</enum><header>Project
eligibility</header><text>Incentives under this subsection shall be provided on
a competitive basis to projects that produce fuel and that—</text>
<subparagraph id="ID8438FB2414FF40AE912019175D814F8E"><enum>(A)</enum><text>meet United
States fuel and emission specifications;</text>
</subparagraph><subparagraph id="ID13E07B2A80CD42879C0853BCA07DE8E3"><enum>(B)</enum><text>help diversify
domestic transportation energy supplies; and</text>
</subparagraph><subparagraph id="ID537CD828D6C84C9BB9729D28DDEC8D42"><enum>(C)</enum><text>improve or
maintain air, water, soil, and habitat quality.</text>
</subparagraph></paragraph><paragraph id="ID6BE57769F62E4E4689C477F05F14A6A5"><enum>(3)</enum><header>Incentives</header><text>Incentives
under this subsection may consist of—</text>
<subparagraph id="IDB1A3C59FB140458D9069FB35BBDF5FF9"><enum>(A)</enum><text>loan guarantees
under section 1510 of the Energy Policy Act of 2005 (42 U.S.C. 16501), subject
to section 1702 of that Act (22 U.S.C. 16512), for the construction of
production facilities and supporting infrastructure; or</text>
</subparagraph><subparagraph id="ID3DA6C88856CF46A1B915C5F4FFE533B9"><enum>(B)</enum><text>production
payments through a reverse auction in accordance with paragraph (4).</text>
</subparagraph></paragraph><paragraph id="ID37A75EF0DD45495E8440DCDFCBDE9754"><enum>(4)</enum><header>Reverse
auction</header>
<subparagraph id="ID306CD9C6A0674A94BB937D2F040CAA4E"><enum>(A)</enum><header>In
general</header><text>In providing incentives under this subsection, the
Secretary shall—</text>
<clause id="IDA286E693E43A4FBF8074F235456055BC"><enum>(i)</enum><text>issue regulations
under which producers of fuel from cellulosic biomass may bid for production
payments under paragraph (3)(B); and</text>
</clause><clause id="IDB12E45EBBC0D46E799053E9C6561DEA5"><enum>(ii)</enum><text>solicit bids
from producers of different classes of transportation fuel, as the Secretary
determines to be appropriate.</text>
</clause></subparagraph><subparagraph id="IDDFFB7141053C433E979A77764561606A"><enum>(B)</enum><header>Requirement</header><text>The
rules under subparagraph (A) shall require that incentives be provided to the
producers that submit the lowest bid (in terms of cents per gallon) for each
class of transportation fuel from which the Secretary solicits a bid.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id2002274367BC4402BBD49742141D24AD"><enum>(b)</enum><header>Production
incentives for cellulosic biofuels</header><text display-inline="yes-display-inline">Section 942(f) of the Energy Policy Act of
2005 (42 U.S.C. 16251(f)) is amended by striking <quote>$250,000,000</quote>
and inserting <quote>$200,000,000 for each of fiscal years 2007 through
2011</quote>.</text>
</subsection></section><section id="id3B5E51A6C67348FFA3113A2742BB0B2A"><enum>118.</enum><header>Alternative
fuels investment by major oil companies and vehicle manufacturers</header>
<subsection id="idE68D2CF69B534D0497D040FE5D993653"><enum>(a)</enum><header>Study</header>
<paragraph id="idB290E2E486FA48A0861CB0CA2C8A3AD5"><enum>(1)</enum><header>In
general</header><text>Not later than 1 year after the date of the enactment of
this Act and every 4 years thereafter, the Comptroller General of the United
States shall conduct a study of the extent to which entities described in
paragraph (2) have invested in alternative fuels production, infrastructure,
and technology development to diversify the motor vehicle fuel and vehicle
options available to consumers in the United States.</text>
</paragraph><paragraph id="idD3E4601C5F0D4E0B9D5C5666B7C7FEBB"><enum>(2)</enum><header>Described
entities</header><text>An entity described under this paragraph is—</text>
<subparagraph id="id3DC2C954EA6A43FFB1C2A924EA4F4A62"><enum>(A)</enum><text>a company that
sells more than $500,000,000 of crude oil, gasoline, or petroleum distillates
in the United States per year; and</text>
</subparagraph><subparagraph id="idAC866A0733F640D599062664A66FB2D6"><enum>(B)</enum><text>a
manufacturer.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id3C3A003980204A2196DF5B34941CDABB"><enum>(b)</enum><header>Report</header><text>At
the conclusion of each study described in subsection (a), the Comptroller
General shall submit a report to Congress that contains the results of such
study.</text>
</subsection></section></subtitle><subtitle id="idCC6AE83ED8104FFA88CF4EFDA4E4A52E"><enum>C</enum><header>Flexible fuel
vehicle market penetration</header>
<section id="ID6ede5accc5214c10917ccfe3c89f8ffd"><enum>121.</enum><header>Credit for
production of qualified flexible fuel vehicles</header>
<subsection id="IDf76ffe632c59474581eee2aac7fa0488"><enum>(a)</enum><header>In
general</header><text>Subpart D of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 (relating to business related credits) is amended
by adding at the end the following new section:</text>
<quoted-block display-inline="no-display-inline" id="id33051937721E458484BA5198BF99C8D2" style="OLC">
<section id="ID0fa44bfb73f44bd6b8a8342695057f71"><enum>45N.</enum><header>Production of
qualified flexible fuel motor vehicles</header>
<subsection id="IDc0d172463fcf4cc38845bd4b00eaf72e"><enum>(a)</enum><header>Allowance of
credit</header><text>For purposes of section 38, in the case of a manufacturer,
the qualified flexible fuel motor vehicle production credit determined under
this section for any taxable year is an amount equal to the incremental
flexible fuel motor vehicle cost for each qualified flexible fuel motor vehicle
produced in the United States by the manufacturer during the taxable
year.</text>
</subsection><subsection id="idF42505CCED2C4F3CABD7BB842F2573AB"><enum>(b)</enum><header>Incremental
flexible fuel motor vehicle cost</header><text>With respect to any qualified
flexible fuel motor vehicle, the incremental flexible fuel motor vehicle cost
is an amount equal to the lesser of—</text>
<paragraph id="id4658B8377D1440B8B05447EA2CEB9C40"><enum>(1)</enum><text>the excess
of—</text>
<subparagraph id="id949DAE9C61264DA292C60B3E2BF579FE"><enum>(A)</enum><text>the cost of
producing such qualified flexible fuel motor vehicle, over</text>
</subparagraph><subparagraph id="id8AAC09EC09B3445190435CB2913529E4"><enum>(B)</enum><text>the cost of
producing such motor vehicle if such motor vehicle was not a qualified flexible
fuel motor vehicle, or</text>
</subparagraph></paragraph><paragraph id="id8FF9A791C0A24A01B56E5EB46DC793A5"><enum>(2)</enum><text>$150.</text>
</paragraph></subsection><subsection id="IDb2a3f73b6073499cb4295cbdac8a2f0f"><enum>(c)</enum><header>Qualified
flexible fuel motor vehicle</header><text>For purposes of this section, the
term <term>qualified flexible fuel motor vehicle</term> means a motor vehicle
(as defined under section 30(c)(2))—</text>
<paragraph id="IDd530a33e91574d1083a294029594a018"><enum>(1)</enum><text>the production of
which is not required for the manufacturer to meet—</text>
<subparagraph id="IDf5db5c3dfe4c4f418bb061842a6a3e33"><enum>(A)</enum><text>the maximum
credit allowable for vehicles described in paragraph (2) in determining the
fleet average fuel economy requirements (as determined under section 32904 of
title 49, United States Code) of the manufacturer for the model year ending in
the taxable year, or</text>
</subparagraph><subparagraph id="IDbc529299efdf46cbb056982b27733c0e"><enum>(B)</enum><text>the requirements
of any other provision of Federal law, and</text>
</subparagraph></paragraph><paragraph id="IDca4efe68c0204bf78ca51158e0e0d5fb"><enum>(2)</enum><text>which is designed
so that the vehicle is propelled by an engine which can use as a fuel a
petroleum mixture of which 85 percent (or another percentage of not less than
70 percent, as the Secretary may determine, by rule, to provide for
requirements relating to cold start, safety, or vehicle functions) of the
volume of consists of ethanol or biodiesel.</text>
</paragraph></subsection><subsection id="ID69cf3edc6bdf478d9b825e9599307608"><enum>(d)</enum><header>Other
definitions and special rules</header><text>For purposes of this
section—</text>
<paragraph id="ID01a22efbaab943b08ffbd15f5254de22"><enum>(1)</enum><header>Manufacturer</header><text>The
term <term>manufacturer</term> has the meaning given such term in regulations
prescribed by the Administrator of the Environmental Protection Agency for
purposes of the administration of title II of the Clean Air Act (42 U.S.C. 7521
et seq.).</text>
</paragraph><paragraph id="ID6257dd7aac294f94bafaa8856e6a6700"><enum>(2)</enum><header>Reduction in
basis</header><text>For purposes of this subtitle, if a credit is allowed under
this section for any expenditure with respect to any property, the increase in
the basis of such property which would (but for this paragraph) result from
such expenditure shall be reduced by the amount of the credit so
allowed.</text>
</paragraph><paragraph id="ID3224eaee151049509ebc3def1855c9a0"><enum>(3)</enum><header>No double
benefit</header><text>The amount of any deduction or credit allowable under
this chapter (other than the credits allowable under this section and section
30B) shall be reduced by the amount of credit allowed under subsection (a) for
such vehicle for the taxable year.</text>
</paragraph><paragraph id="IDd72ff41e13f2459e9418ba90a6d69443"><enum>(4)</enum><header>Election not to
take credit</header><text>No credit shall be allowed under subsection (a) for
any vehicle if the taxpayer elects to not have this section apply to such
vehicle.</text>
</paragraph></subsection><subsection id="ID13a0ba4bc9e44d319db546797b33ee73"><enum>(e)</enum><header>Cross
reference</header><text>For an election to claim certain minimum tax credits in
lieu of the credit determined under this section, see section
53(e).</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDf61489e992de4cb288b61c4c0ff877e3"><enum>(b)</enum><header>Credit allowed
against the alternative minimum tax</header><text>Section 38(c)(4)(B) of the
Internal Revenue Code of 1986 (defining specified credits) is amended by
striking the period at the end of clause (ii)(II) and inserting <quote>,
and</quote>, and by adding at the end the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="id9360B11D70024043A9F5E5A97A832BA2" style="OLC">
<clause id="ID5251389f80294a0f9ba085ccdcb410d3"><enum>(iii)</enum><text>the credit
determined under section
45N.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID6098cc25e81c4219ae5f9a3dad1ea2fc"><enum>(c)</enum><header>Election to use
additional amt credit</header><text>Section 53 of the Internal Revenue Code of
1986 (relating to credit for prior year minimum tax liability) is amended by
adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="idFE0132DB47F448F5B0BB2DCEF144F2A7" style="OLC">
<subsection id="ID6365b266b35f40bfbc6faad8a4318c98"><enum>(e)</enum><header>Additional
credit in lieu of flexible fuel motor vehicle credit</header>
<paragraph id="ID3a85bce294564b84ba03005de0fdb661"><enum>(1)</enum><header>In
general</header><text>In the case of a taxpayer making an election under this
subsection for a taxable year, the limitation under subsection (c) for such
taxable year shall be increased by the amount of the credit determined under
section 45N for such taxable year.</text>
</paragraph><paragraph id="IDee4fd38646bd4201a29f2ef5592b923c"><enum>(2)</enum><header>Election</header><text>A
taxpayer may make an election under this subsection for any taxable year only
if the taxpayer elects not to take the credit under section 45N for such
taxable year pursuant to section 45N(c)(4). Any election under this subsection
may not be revoked except with the consent of the Secretary.</text>
</paragraph><paragraph id="ID3a8243d7f70d4014a9d0a9c0ed0b7e38"><enum>(3)</enum><header>Credit
refundable</header><text>The aggregate increase in the credit under this
section for any taxable year by reason of this subsection shall for purposes of
this title (other than subsection (b)(2) of this section) be treated as a
credit allowed to the taxpayer under subpart
C.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID34f411a7b995440995697d2a80a908e4"><enum>(d)</enum><header>Conforming
amendments</header>
<paragraph id="idEC4E05318C474270A3E4ACF26E996B07"><enum>(1)</enum><text>Section 38(b) of
the Internal Revenue Code of 1986 is amended by striking <quote>and</quote> at
the end of paragraph (29), by striking the period at the end of paragraph (30)
and inserting <quote>, plus</quote>, and by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id115D98F1E5D54953B6BACEDB77D2FD5E" style="OLC">
<paragraph id="IDc68872d5a3f54d208881826dd9758470"><enum>(31)</enum><text>the qualified
flexible fuel motor vehicle production credit determined under section
45N(a).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id5C43164F73E7480891BA1D580CA33BF3"><enum>(2)</enum><text>Section 1016(a)
of such Code is amended by striking <quote>and</quote> at the end of paragraph
(36), by striking the period at the end of paragraph (37) and inserting
<quote>, and</quote>, and by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="idCD8421AAAFAD4F2AA8B6F50E0E64A6E3" style="OLC">
<paragraph id="id717C9F92A5BB4D9DAA4E414D370D344A"><enum>(38)</enum><text>in the case of a
facility with respect to which a credit was allowed under section 45N, to the
extent provided in section 45N(d)(2).</text>
</paragraph><after-quoted-block></after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID4ab03813154f413a8a49be55d16a986e"><enum>(e)</enum><header>Clerical
amendment</header><text>The table of sections for subpart D of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by
adding at the end the following new item:</text>
<quoted-block display-inline="no-display-inline" id="id9CE5F61B48054DA68263FDC69B72CAEC" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 45N. Production of
qualified flexible fuel motor
vehicles.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID08da54e3c07b48f28521eabb20ee6b91"><enum>(f)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to motor
vehicles produced in model years ending after the date of the enactment of this
Act.</text>
</subsection></section><section id="id25BCACD87F58492FB320A84D5DFDC2AD"><enum>122.</enum><header>Ensuring
availability of flexible fuel vehicles</header>
<subsection id="idF0952A90926D439FA78888D629E6F617"><enum>(a)</enum><header>Amendment</header>
<paragraph id="id60AAF03BEC994E1496A4C97232C5158A"><enum>(1)</enum><header>In
general</header><text>Chapter 329 of title 49, United States Code, is amended
by inserting after section 32902 the following:</text>
<quoted-block display-inline="no-display-inline" id="id62610C6D6A1C485784B0FE9310496E80" style="USC">
<section id="id887F1266A147485C92DF1064E8F69809"><enum>32902A.</enum><header>Requirement
to manufacture flexible fuel vehicles</header>
<subsection id="idE4C6A0810B2F4950A3E8DBCC8FFE4F90"><enum>(a)</enum><header>In
general</header><text>For each model year, each manufacturer of new motor
vehicles (as defined under section 30(c)(2) of the Internal Revenue Code of
1986) described in subsection (b) shall ensure that the percentage of such
vehicles manufactured in a particular model year that are flexible fuel
vehicles shall be not less than the percentage set forth for that model year in
the following table:</text>
<table align-to-level="section" blank-lines-before="1" frame="none" line-rules="no-gen" rule-weights="0.0.0.4.0.0" subformat="S6211" table-type="2-Entry:-2-text,-bold-hds">
<tgroup cols="2" fnote-size="0" grid-typeface="1.1" thead-tbody-ldg-size="10.10.12" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="0" colwidth="232" min-data-value="150" rowsep="0"></colspec><colspec align="left" coldef="txt-no-spread" colname="col2" colsep="0" colwidth="194" min-data-value="125" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="col1" rowsep="0"><bold>If the
model year is: </bold></entry><entry align="center" colname="col2" rowsep="0"><bold>The percentage of flexible fuel vehicles shall
be:</bold></entry>
</row>
</thead>
<tbody>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="2">2010</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">25
percent</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="2">2020</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">50
percent</entry>
</row>
</tbody>
</tgroup>
</table>
</subsection><subsection id="id2BE92FD593BD4E76B5C9B4F0E2380517"><enum>(b)</enum><header>Motor vehicles
described</header><text>A motor vehicle is described in this subsection if the
vehicle—</text>
<paragraph id="id89F5769F69434457BB69D9E49E90F0C9"><enum>(1)</enum><text>is capable of
operating on gasoline or diesel fuel;</text>
</paragraph><paragraph id="id72CF87FA41974AFBA9508EACE011E960"><enum>(2)</enum><text>is distributed in
interstate commerce for sale in the United States; and</text>
</paragraph><paragraph id="ID131d2f1de4344697b3d94fd85b6ae178"><enum>(3)</enum><text>does not contain
certain engines that the Secretary of Transportation, in consultation with the
Administrator of the Environmental Protection Agency and the Secretary of
Energy, may temporarily exclude from the definition because it is
technologically infeasible for the engines to have flexible fuel capability at
any time during a period that the Secretaries and the Administrator are engaged
in an active research program with the vehicle manufacturers to develop that
capability for the
engines.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id5D72C403A2EB4856BAC4BA27AEE6F6E5"><enum>(2)</enum><header>Definition of
flexible fuel vehicle</header><text>Section 32901(8) of title 49, United States
Code, is amended by inserting <quote>or <term>flexible fuel
vehicle</term></quote> after <quote><term>dual fueled
automobile</term></quote>.</text>
</paragraph><paragraph id="id5E436CBDB1884AFFA5FE5EB70C00E16E"><enum>(3)</enum><header>Clerical
amendment</header><text display-inline="yes-display-inline">The table of
sections for chapter 329 of title 49, United States Code, is amended by
inserting after the item relating to section 32902 the following:</text>
<quoted-block display-inline="no-display-inline" id="id967A185CF6B44C31B2EB1B53F5288441" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 32902A. Requirements to
manufacture flexible fuel
vehicles.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="idA87F840551FD40358AFD31A206728977"><enum>(b)</enum><header>Rulemaking</header>
<paragraph id="id76D18F9157254AC686A89A4454DBD88E"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Not later than 1 year
after the date of the enactment of this Act, the Secretary of Transportation
shall issue regulations to carry out the amendments made by subsection
(a).</text>
</paragraph><paragraph id="id67C358AFBA4B4FACA30E8CAA73B05EB0"><enum>(2)</enum><header>Hardship
exemption</header><text display-inline="yes-display-inline">The regulations
issued pursuant to paragraph (1) shall include a process by which a
manufacturer may be exempted from the requirement under section 32902A(a) upon
demonstrating that such requirement would create a substantial economic
hardship for the manufacturer.</text>
</paragraph></subsection></section><section id="idEA8D60C6AE204CC4A07BE48E46681D7D"><enum>123.</enum><header>Increasing
consumer awareness of flexible fuel vehicles</header><text display-inline="no-display-inline">Section 32908 of title 49, United States
Code, is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id439B968DDAC847D69A6E25F7F930995E" style="OLC">
<subsection id="id1A81C224EAF44E60A415411F797F1535"><enum>(g)</enum><header>Increasing
consumer awareness of flexible fuel vehicles</header><paragraph commented="no" display-inline="yes-display-inline" id="id833A3CC52A12459093F92F4D95A98725"><enum>(1)</enum><text display-inline="yes-display-inline">The Secretary of Transportation shall
prescribe regulations that require the manufacturer of vehicles distributed in
interstate commerce for sale in the United States—</text>
<subparagraph id="idF07DAA4B3F7E426C9B07B6B305A89F5A" indent="up1"><enum>(A)</enum><text display-inline="yes-display-inline">to
prominently display a permanent badge or emblem on the quarter panel or
tailgate of each such vehicle that indicates such vehicle is capable of
operating on alternative fuel; and</text>
</subparagraph><subparagraph id="id4D1EC0A6977245AABE28A08B884F0971" indent="up1"><enum>(B)</enum><text display-inline="yes-display-inline">to
include information in the owner’s manual of each such vehicle information that
describes—</text>
<clause id="idEF4A911DC87B4A789EA08369CEB4E16B"><enum>(i)</enum><text display-inline="yes-display-inline">the capability of the vehicle to operate
using alternative fuel; and</text>
</clause><clause id="id4A9832150CD94DE69023572831CBD22F"><enum>(ii)</enum><text display-inline="yes-display-inline">the benefits of using alternative fuel,
including the renewable nature, the increased fuel efficiency, and the
environmental benefits of using alternative fuel.</text>
</clause></subparagraph></paragraph><paragraph id="id2A7E39634D0A4E5989FE1CB456605A04" indent="up1"><enum>(2)</enum><text display-inline="yes-display-inline">The Secretary of Transportation shall
collaborate with vehicle retailers to develop voluntary methods for providing
prospective purchasers of vehicles with information regarding the benefits of
using alternative fuel in vehicles, including—</text>
<subparagraph id="id59001496BEE74483AD3407CFBA412696"><enum>(A)</enum><text display-inline="yes-display-inline">the renewable nature of alternative fuel;
and</text>
</subparagraph><subparagraph id="id49C8B642298B4997822D51590B686893"><enum>(B)</enum><text display-inline="yes-display-inline">the environmental benefits of using
alternative
fuel.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section></subtitle><subtitle id="id425C8E09A0F04B17B7AF4720EB7A6D3F"><enum>D</enum><header>25 by ’25
renewable energy and fuels vision </header>
<section id="id69E34565A7CB4932BB3C371AF7534F48"><enum>131.</enum><header>Presidential
authority to increase renewable fuel content of motor fuels and clean energy
sources</header><text display-inline="no-display-inline">Section 211(o)(2)(B)
of the Clean Air Act (42 U.S.C. 7545(o)(2)(B)) is amended by adding at the end
the following:</text>
<quoted-block display-inline="no-display-inline" id="id03871EF22AF94404AD0B84440326EB5D" style="OLC">
<clause id="IDa15497f4711640e0bc85bf39922ae316"><enum>(v)</enum><header>Presidential
authority</header>
<subclause id="id7175D32D43F9451A914A2724BC144173"><enum>(I)</enum><header>In
general</header><text>Beginning in calendar year 2009, notwithstanding clause
(iv) and subject to clause (II), after full consideration of the reports
required to be conducted and published pursuant to subsections (b)(4) and (q),
the review required under in subclauses (I) and (II) of clause (ii), the report
required under section 1352 of the Energy Policy Act of 2005 (26 U.S.C. 41
note; 119 Stat. 1058), and such other information as is appropriate and
relevant, the President may promulgate rules in accordance with this
subsection—</text>
<item id="ID85de379dca7b47c8a8e6e7a512876ef4"><enum>(aa)</enum><text>to
gradually increase the proportion that—</text>
<subitem id="idEF8A7DF7279E40CBA153F7736DD6D5D4"><enum>(AA)</enum><text>the number of
gallons of renewable fuel sold or introduced into commerce in calendar year
2013 and subsequent calendar years; bears to</text>
</subitem><subitem id="idF338F49C375949E9B3149EBDE8C215C8"><enum>(BB)</enum><text>the total number
of gallons of gasoline sold or introduced into commerce in each of those
calendar years; and</text>
</subitem></item><item commented="no" display-inline="no-display-inline" id="ID56307441819445429007176fe3efa9f9"><enum>(bb)</enum><text>to increase the
minimum quantity of renewable fuel derived from cellulosic biomass above the
250,000,000-gallon level under clause (iii).</text>
</item></subclause><subclause commented="no" display-inline="no-display-inline" id="idAC2FACF467C24718A468FF787B4C3345"><enum>(II)</enum><header>Limitations</header><text>The
rules promulgated under subclause (I) shall not—</text>
<item id="IDf718f5b327454595ad9b49fb970878fd"><enum>(aa)</enum><text>except at the
request of the Governor of a State, apply to fuel refiners, blenders, and
importers in a State in which more than 25 percent of the energy projected to
be consumed in calendar year 2025 is expected to or will be derived from 1 or
more of—</text>
<subitem id="id49C786C0DA9A45D6BEE34DD57676F6B1"><enum>(AA)</enum><text>renewable fuels;
and</text>
</subitem><subitem id="id6FDD23161DFF42D6A08ED0D75EA6829D"><enum>(BB)</enum><text>renewable
electric energy generated at a facility (including a distributed generation
facility) from solar or wind resources, geothermal energy, ocean or wave
energy, or biomass (as defined in section 203(b) of the Energy Policy Act of
2005 (42 U.S.C. 15852(b))) and renewable electric energy generated at a
facility (including a distributed generation facility) from hydroelectric
resources in existence before January 1, 2006;</text>
</subitem></item><item id="IDc68ab6dd98d44eb8b642a38b6f217661"><enum>(bb)</enum><text>be
applied in a manner that would require that the total amount of renewable fuels
and renewable energy consumed in the United States exceed 25 percent of the
total amount of energy consumed in calendar year 2025; or</text>
</item><item id="id767BBC35F2F14DB3BEF26A89C39A58ED"><enum>(cc)</enum><text>be
applied in a manner that would harm the air quality of any State or
significantly increase the cost of motor vehicle fuel in a State or
region.</text>
</item></subclause></clause><after-quoted-block>.</after-quoted-block></quoted-block>
</section></subtitle><subtitle id="id27C6E698E94043F48000989D63B0959F"><enum>E</enum><header>Nationwide media
campaign to encourage energy efficiency and conservation</header>
<section id="idF285AC605B2B4B29A1B8E0A31A53C1FF"><enum>141.</enum><header>Nationwide
media campaign to encourage energy efficiency and conservation</header>
<subsection id="ID42f886051d814d648e0148a4ee11f0fe"><enum>(a)</enum><header>In
general</header><text>The Secretary of Energy, acting through the Assistant
Secretary for Energy Efficiency and Renewable Energy (referred to in this
section as the <quote>Secretary</quote>), shall develop and conduct a national
media campaign for the purpose of decreasing oil consumption in the United
States over the next decade.</text>
</subsection><subsection id="ID8bb8c40e9c984296a072289d1d53fc58"><enum>(b)</enum><header>Contract with
entity</header><text>The Secretary shall carry out subsection (a) directly or
through—</text>
<paragraph id="ID41ad65e2533a4e0a9ccb34308f002417"><enum>(1)</enum><text>competitively bid
contracts with 1 or more nationally recognized media firms for the development
and distribution of monthly television, radio, and newspaper public service
announcements; or</text>
</paragraph><paragraph id="IDe71fba42acfd49eb8e00f43c17f6b424"><enum>(2)</enum><text>collective
agreements with 1 or more nationally recognized institutes, businesses, or
nonprofit organizations for the funding, development, and distribution of
monthly television, radio, and newspaper public service announcements.</text>
</paragraph></subsection><subsection id="ID8a598752ffb14a16b0b5cf64bd1f3f9d"><enum>(c)</enum><header>Use of
funds</header>
<paragraph id="IDf465a00469a6456f8c4214eefd306cf8"><enum>(1)</enum><header>In
general</header><text>Amounts made available to carry out this section shall be
used for the following:</text>
<subparagraph id="ID827875c845f54365ad6dc419dfdc4165"><enum>(A)</enum><header>Advertising
costs</header>
<clause id="ID13d644dd38c240499bd1a2d016c649cf"><enum>(i)</enum><text>The
purchase of media time and space.</text>
</clause><clause id="ID9bdfdb1466c24eaeac6c3a902b49077f"><enum>(ii)</enum><text>Creative and
talent costs.</text>
</clause><clause id="ID85657a9a574642dbb692dc6d0e69b475"><enum>(iii)</enum><text>Testing and
evaluation of advertising.</text>
</clause><clause id="IDcf2ce982a2394baab87b320b31ea1660"><enum>(iv)</enum><text>Evaluation of
the effectiveness of the media campaign.</text>
</clause><clause id="ID2f9594e8805e4f36b666596e0994ea20"><enum>(v)</enum><text>The
negotiated fees for the winning bidder on requests from proposals issued either
by the Secretary for purposes otherwise authorized in this section.</text>
</clause><clause id="ID938c814537724665b3c08baf253c3eef"><enum>(vi)</enum><text>Entertainment
industry outreach, interactive outreach, media projects and activities, public
information, news media outreach, and corporate sponsorship and
participation.</text>
</clause></subparagraph><subparagraph id="IDac157966f0e544928d2eb24c979c5ec3"><enum>(B)</enum><header>Administrative
costs</header><text>Operational and management expenses.</text>
</subparagraph></paragraph><paragraph id="IDa4e43794cdc44f06accaab0af9aab517"><enum>(2)</enum><header>Limitations</header><text>In
carrying out this section, the Secretary shall allocate not less than 85
percent of funds made available under subsection (e) for each fiscal year for
the advertising functions specified under paragraph (1)(A).</text>
</paragraph></subsection><subsection id="ID92c95e589ccd4ddba6d58e930e9928a9"><enum>(d)</enum><header>Reports</header><text>The
Secretary shall annually submit to Congress a report that describes—</text>
<paragraph id="ID60f2eaca88784bd59428dbc17bf9f77c"><enum>(1)</enum><text>the strategy of
the national media campaign and whether specific objectives of the campaign
were accomplished, including—</text>
<subparagraph id="ID4d59c48f183f4c9fb9666bd55d9d7147"><enum>(A)</enum><text>determinations
concerning the rate of change of oil consumption, in both absolute and per
capita terms; and</text>
</subparagraph><subparagraph id="ID2ad8fc29258d4401b036447a63fa60cc"><enum>(B)</enum><text>an evaluation
that enables consideration whether the media campaign contributed to reduction
of oil consumption;</text>
</subparagraph></paragraph><paragraph id="IDf18f9a83f5ce45c2b19eea9f54fc61cc"><enum>(2)</enum><text>steps taken to
ensure that the national media campaign operates in an effective and efficient
manner consistent with the overall strategy and focus of the campaign;</text>
</paragraph><paragraph id="IDd5d49c866eda45d3838cee9eb99d3a33"><enum>(3)</enum><text>plans to purchase
advertising time and space;</text>
</paragraph><paragraph id="IDa95a2c90e9674cacac9635f8b9c42101"><enum>(4)</enum><text>policies and
practices implemented to ensure that Federal funds are used responsibly to
purchase advertising time and space and eliminate the potential for waste,
fraud, and abuse; and</text>
</paragraph><paragraph id="ID25627b3d37834d9380200faef9ec18cb"><enum>(5)</enum><text>all contracts or
cooperative agreements entered into with a corporation, partnership, or
individual working on behalf of the national media campaign.</text>
</paragraph></subsection><subsection id="ID3f7abcf7de0b47198141b19c5951cd88"><enum>(e)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to carry
out this section $5,000,000 for each of fiscal years 2006 through 2010.</text>
</subsection></section></subtitle><subtitle id="id52A18AB0F682425AA97000E01BE07627"><enum>F</enum><header>Increasing
transit use and alternative transportation modes</header>
<section id="id253A7F3078C44F2D9979D20C092628AD"><enum>151.</enum><header>Transit-Oriented
Development Corridors</header>
<subsection id="ID8acfdcff871d432a9b3570a2cbb40864"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="ID6651f51f227a4f1da606f5902f15349e"><enum>(1)</enum><header>Transit-Oriented
Development Corridor</header><text>The term <term>Transit-Oriented Development
Corridor</term> or <term>TODC</term> means a geographic area designated by the
Secretary under subsection (b).</text>
</paragraph><paragraph id="IDb3664f15c2c94b85a3b7872adad62428"><enum>(2)</enum><header>Other
terms</header><text>The terms <term>fixed guide way</term>, <term>local
governmental authority</term>, <term>mass transportation</term>,
<term>Secretary</term>, <term>State</term>, and <term>urbanized area</term>
have the meanings given the terms in section 5302 of title 49, United States
Code.</text>
</paragraph></subsection><subsection id="ID586275b91a6d4e9ebe9cb6bdd29f5fd7"><enum>(b)</enum><header>Transit-Oriented
Development Corridors</header>
<paragraph id="ID21182afe765440f3bb5cd39f42957692"><enum>(1)</enum><header>In
general</header><text>The Secretary shall develop and carry out a program to
designate geographic areas in urbanized areas as Transit-Oriented Development
Corridors.</text>
</paragraph><paragraph id="IDfc4d80403fab490a8d897662f26def98"><enum>(2)</enum><header>Criteria</header><text>An
area designated as a TODC under paragraph (1) shall include rights-of-way for
fixed guide way mass transportation facilities (including commercial
development of facilities that have a physical and functional connection with
each facility).</text>
</paragraph><paragraph id="ID30f3bc6c872d43e29fd5baec926ac8d8"><enum>(3)</enum><header>Number of
todcs</header><text>In consultation with State transportation departments and
metropolitan planning organizations, the Secretary shall designate—</text>
<subparagraph id="IDce6588a1977d408987e86222b40b67b8"><enum>(A)</enum><text>not fewer than 10
TODCs by December 31, 2015; and</text>
</subparagraph><subparagraph id="ID3140f0a837784c1cb4b23ae434a7d0d3"><enum>(B)</enum><text>not fewer than 20
TODCs by December 31, 2025.</text>
</subparagraph></paragraph><paragraph id="ID81d83ab320f84d47b163251ead96fb62"><enum>(4)</enum><header>Transit
grants</header>
<subparagraph id="IDdefacdb790c24fe2a294169b1f289ba4"><enum>(A)</enum><header>In
general</header><text>The Secretary make grants to eligible states and local
governmental authorities to pay the Federal share of the cost of designating
geographic areas in urbanized areas as TODCs.</text>
</subparagraph><subparagraph id="IDaa72b445c4594cc787fb58d05c2763de"><enum>(B)</enum><header>Application</header><text>Each
eligible State or local governmental authority that desires to receive a grant
under this paragraph shall submit an application to the Secretary, at such
time, in such manner, and accompanied by such additional information as the
Secretary may reasonably require.</text>
</subparagraph><subparagraph id="IDc6ac1f38eaa24a759c530a92f3af18d7"><enum>(C)</enum><header>Labor
standards</header><text>Subchapter IV of chapter 31 of title 40, United States
Code shall apply to projects that receive funding under this section.</text>
</subparagraph><subparagraph id="ID2eb9197d2e5242ae8d51fb16d9afe31f"><enum>(D)</enum><header>Federal
share</header><text>The Federal share of the cost of a project under this
subsection shall be 50 percent.</text>
</subparagraph></paragraph></subsection><subsection id="IDd653ec7f8aab4b20b3dd3e4c58842698"><enum>(c)</enum><header>TODC research
and development</header><text>To support effective deployment of grants and
incentives under this section, the Secretary shall establish a TODC research
and development program to conduct research on the best practices and
performance criteria for TODCs.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID8c9f1c4b1a354512ba92e99eba558ea0"><enum>(d)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to carry
out this section $50,000,000 for each of fiscal years 2007 through 2012.</text>
</subsection></section><section id="id39E6AB470117434693795D2A11FBE6B3"><enum>152.</enum><header>Increasing
transit utilization incentives</header>
<subsection id="id9476516FBBCB4F5DBCEFAE7ADC2F7BD5"><enum>(a)</enum><header>In
general</header><text>Section 132(f)(2)(A) of the Internal Revenue Code of 1986
(relating to limitation on exclusion) is amended by striking
<quote>$100</quote> and inserting <quote>$200</quote>.</text>
</subsection><subsection id="id034E94103D45417ABAC1A6289302D114"><enum>(b)</enum><header>Inflation
adjustment</header><text>The second sentence of section 132(f)(6)(A) of the
Internal Revenue Code of 1986 (relating to inflation adjustment) is
amended—</text>
<paragraph id="idA7682023EC5B44D3ACD1B3DF00FBDE51"><enum>(1)</enum><text>by striking
<quote>2002</quote> and inserting <quote>2006</quote>, and</text>
</paragraph><paragraph id="idB2C650DE8C4F4884B86CEF2A7C9167CD"><enum>(2)</enum><text>by striking
<quote>2001</quote> and inserting <quote>2005</quote>.</text>
</paragraph></subsection><subsection id="id01E70BEC17144BBD913B87916CD5D500"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2005.</text>
</subsection></section><section id="IDAC7A62600D534B62A5E56EC2C5478DCA" section-type="subsequent-section"><enum>153.</enum><header>Extension of
transportation fringe benefit to bicycle commuters</header>
<subsection id="ID86C63ACE916945C9A7942B814FAB4CD4"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 132(f) of the Internal Revenue
Code of 1986 (relating to general rule for qualified transportation fringe) is
amended by adding at the end the following:</text>
<quoted-block id="ID842C63EB14374FFBBC00A050D576C036">
<subparagraph id="ID867C49CFB3174C7E8DAD3B944B15D620"><enum>(D)</enum><text>Bicycle commuting
allowance.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID5B5E4264B5654D13B077AFF12F03E49C"><enum>(b)</enum><header>Bicycle
commuting allowance defined</header><text>Paragraph (5) of section 132(f) of
the Internal Revenue Code of 1986 (relating to definitions) is amended by
adding at the end the following:</text>
<quoted-block id="ID610EC399355B4B72A74682DC26798FCB">
<subparagraph id="ID6D44EF0FE60E4DBFB9C46B95B4BFCA8C"><enum>(F)</enum><header>Bicycle
commuting allowance</header><text>The term <term>bicycle commuting
allowance</term> means an amount provided to an employee for transportation on
a bicycle if such transportation is in connection with travel between the
employee’s residence and place of
employment.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDBD9D2BAB61C44FE8A9CE2DB1000800F9"><enum>(c)</enum><header>Limitation on
exclusion</header><text>Paragraph (2) of section 132(f) of the Internal Revenue
Code of 1986 is amended by striking <quote>subparagraphs (A) and (B)</quote>
and inserting <quote>subparagraphs (A), (B), and (D)</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID6684FAA1027841B497E43B674BC1A019"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2005.</text>
</subsection></section></subtitle><enum>II</enum><header>Ensuring
near-term energy affordability and empowering American families</header>
<subtitle id="id17B54C04DAA04C7B87B5BB0762F1C3CD"><enum>A</enum><header>Making gas price
gouging a Federal crime</header>
<section id="id4F464307B0C0412480C3BFC2566FE7EC"><enum>201.</enum><header>Unfair or
deceptive acts or practices in commerce related to gasoline and petroleum
distillates</header>
<subsection id="ID33bf7579ddd04a6c83149c41036b0fe1"><enum>(a)</enum><header>Sales to
consumers at unconscionable price</header>
<paragraph id="ID5acc709f2f734c32a74d1d061b92a8ff"><enum>(1)</enum><header>In
general</header><text>It is unlawful for any person to sell crude oil,
gasoline, or petroleum distillates at a price that—</text>
<subparagraph id="IDea217eb532ab47e9b5ea5e5bcea51bc7"><enum>(A)</enum><text>is unconscionably
excessive; or</text>
</subparagraph><subparagraph id="ID1edea3d10dbf4f7bbb39f3339f70e74b"><enum>(B)</enum><text>indicates the
seller is taking unfair advantage of the circumstances to increase prices
unreasonably.</text>
</subparagraph></paragraph><paragraph id="IDb7d5981d0822473fb7753e8d7814d859"><enum>(2)</enum><header>Factors
considered</header><text>In determining whether a violation of paragraph (1)
has occurred, there shall be taken into account, among other factors,
whether—</text>
<subparagraph id="IDbad089eb24e94373853487d83ca21db7"><enum>(A)</enum><text>the amount
charged represents a gross disparity between the price of the crude oil,
gasoline, or petroleum distillate sold and the price at which it was offered
for sale in the usual course of the seller's business immediately prior to the
energy emergency; or</text>
</subparagraph><subparagraph id="ID8f33a0dcf3aa4fb688743f2b7cc7c42a"><enum>(B)</enum><text>the amount
charged grossly exceeds the price at which the same or similar crude oil,
gasoline, or petroleum distillate was readily obtainable by other
purchasers.</text>
</subparagraph></paragraph><paragraph id="ID0e2569e9fe0b4085b486523de170a48c"><enum>(3)</enum><header>Mitigating
factors</header><text>In determining whether a violation of paragraph (1) has
occurred, there also shall be taken into account, among other factors, the
price that would reasonably equate supply and demand in a competitive and
freely functioning market and whether the price at which the crude oil,
gasoline, or petroleum distillate was sold reasonably reflects additional
costs, not within the control of the seller, that were paid or incurred by the
seller.</text>
</paragraph></subsection><subsection id="IDf02413597ee94744af9bd27fed2d9029"><enum>(b)</enum><header>False pricing
information</header><text>It is unlawful for any person to report information
related to the wholesale price of crude oil, gasoline, or petroleum distillates
to the Federal Trade Commission if—</text>
<paragraph id="ID33d1e802555c4ebdb64e3c7dbe5a65fd"><enum>(1)</enum><text>that person knew,
or reasonably should have known, the information to be false or
misleading;</text>
</paragraph><paragraph id="IDca4a8ec64b894058950d00bbaf33236c"><enum>(2)</enum><text>the information
was required by law to be reported; and</text>
</paragraph><paragraph id="ID5e88bb5ed40940d788380bcb0208c63b"><enum>(3)</enum><text>the person
intended the false or misleading data to affect data compiled by that
department or agency for statistical or analytical purposes with respect to the
market for crude oil, gasoline, or petroleum distillates.</text>
</paragraph></subsection><subsection id="IDa84f73ff63ba4ea4bfbccc3310b94c1a"><enum>(c)</enum><header>Market
manipulation</header><text>It is unlawful for any person, directly or
indirectly, to use or employ, in connection with the purchase or sale of crude
oil, gasoline, or petroleum distillates at wholesale, any manipulative or
deceptive device or contrivance, in contravention of such rules and regulations
as the Commission may prescribe as necessary or appropriate in the public
interest or for the protection of United States citizens.</text>
</subsection></section><section id="ID3310a81b3f7f4e9298f8c43018b80332"><enum>202.</enum><header>Enforcement
under Federal Trade Commission Act</header>
<subsection id="IDc2dd9e5224524631827c7e2c415fc302"><enum>(a)</enum><header>Enforcement by
commission</header><text>This subtitle shall be enforced by the Federal Trade
Commission. In enforcing section 201(a), the Commission shall give priority to
enforcement actions concerning companies with total United States wholesale or
retail sales of crude oil, gasoline, and petroleum distillates in excess of
$500,000,000 per year but shall not exclude enforcement actions against
companies with total United States wholesale sales of $500,000,000 or less per
year.</text>
</subsection><subsection id="ID0b95705adc684048995bc9a6f7e242e5"><enum>(b)</enum><header>Violation is
unfair or deceptive act or practice</header><text>The violation of any
provision of this Act shall be treated as an unfair or deceptive act or
practice proscribed under a rule issued under section 18(a)(1)(B) of the
Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)).</text>
</subsection></section><section id="ID5f901c6617914a73809e6a05dc0efa01"><enum>203.</enum><header>Enforcement at
retail level by State Attorneys General</header>
<subsection id="ID9e903cb2806846e9bf2980efd88241d7"><enum>(a)</enum><header>In
general</header><text>A State, as parens patriae, may bring a civil action on
behalf of its residents in an appropriate district court of the United States
to enforce the provisions of section 201(a), or to impose the civil penalties
authorized by section 204 for violations of section 201(a), whenever the
attorney general of the State has reason to believe that the interests of the
residents of the State have been or are being threatened or adversely affected
by a person engaged in retail sales of gasoline or petroleum distillates to
consumers for purposes other than resale that violates this subtitle or a
regulation under this subtitle.</text>
</subsection><subsection id="ID68d8d037277c4c0aabae39f0e39f501d"><enum>(b)</enum><header>Notice</header><text>The
State shall serve written notice to the Commission of any civil action under
subsection (a) prior to initiating such civil action. The notice shall include
a copy of the complaint to be filed to initiate such civil action, except that
if it is not feasible for the State to provide such prior notice, the State
shall provide such notice immediately upon instituting such civil
action.</text>
</subsection><subsection id="ID6267718683e241ab947a604498df9f9d"><enum>(c)</enum><header>Authority
<enum-in-header>T</enum-in-header>o intervene</header><text>Upon receiving the
notice required by subsection (b), the Commission may intervene in such civil
action and upon intervening—</text>
<paragraph id="ID428d4b73bd9a48f6871c6ca4daa00865"><enum>(1)</enum><text>be heard on all
matters arising in such civil action; and</text>
</paragraph><paragraph id="IDd61cac47547041c89ff1137ffe1adc4d"><enum>(2)</enum><text>file petitions
for appeal of a decision in such civil action.</text>
</paragraph></subsection><subsection id="ID60d7c3617bc149a38786ebce77b089a8"><enum>(d)</enum><header>Construction</header><text>For
purposes of bringing any civil action under subsection (a), nothing in this
section shall prevent the attorney general of a State from exercising the
powers conferred on the attorney general by the laws of such State to conduct
investigations or to administer oaths or affirmations or to compel the
attendance of witnesses or the production of documentary and other
evidence.</text>
</subsection><subsection id="IDb3c213616125450b8a03f0593d5b0769"><enum>(e)</enum><header>Venue; service
of process</header><text>In a civil action brought under subsection (a)—</text>
<paragraph id="ID9e98282c87c346bc90df8fac62037615"><enum>(1)</enum><text>the venue shall
be a judicial district in which—</text>
<subparagraph id="ID935b8a0bc98f41efa75d76ba443da444"><enum>(A)</enum><text>the defendant
operates;</text>
</subparagraph><subparagraph id="IDbdeaf3e80f64418288be68eb20f0436b"><enum>(B)</enum><text>the defendant was
authorized to do business; or</text>
</subparagraph><subparagraph id="ID1e517a1ec86f45eab37063499ca1f39a"><enum>(C)</enum><text>where the
defendant in the civil action is found;</text>
</subparagraph></paragraph><paragraph id="ID3ca0b7acbf694219a9170193c84f8484"><enum>(2)</enum><text>process may be
served without regard to the territorial limits of the district or of the State
in which the civil action is instituted; and</text>
</paragraph><paragraph id="ID16bc0ea116684d9b8e50e9b197ae9db2"><enum>(3)</enum><text>a person who
participated with the defendant in an alleged violation that is being litigated
in the civil action may be joined in the civil action without regard to the
residence of the person.</text>
</paragraph></subsection><subsection id="ID85d645a87af241689b5bbf1c4f89468d"><enum>(f)</enum><header>Limitation on
State action while Federal action is pending</header><text>If the Commission
has instituted a civil action or an administrative action for violation of this
subtitle, no State attorney general, or official or agency of a State, may
bring an action under this section during the pendency of that action against
any defendant named in the complaint of the Commission or the other agency for
any violation of this subtitle alleged in the complaint.</text>
</subsection><subsection id="IDb9ba5de3a5d84516ac1cc7eb97893bb4"><enum>(g)</enum><header>Enforcement of
State law</header><text>Nothing contained in this section shall prohibit an
authorized State official from proceeding in State court to enforce a civil or
criminal statute of such State.</text>
</subsection></section><section id="ID5ce55afbc08a48689a1f575c0f2b6efa"><enum>204.</enum><header>Penalties</header>
<subsection id="ID742e59bef9734dfeb7a85c29904e2c66"><enum>(a)</enum><header>Civil
penalty</header>
<paragraph id="ID793ce210213648ff8b9383f4208cd603"><enum>(1)</enum><header>In
general</header><text>In addition to any penalty applicable under the Federal
Trade Commission Act—</text>
<subparagraph id="ID3aeaa88ffdf6490292a839664b4664e1"><enum>(A)</enum><text>any person who
violates section 201(b) or 201(c) is punishable by a civil penalty of not more
than $1,000,000; and</text>
</subparagraph><subparagraph id="IDa5c173bc779b4ac78dd28e65518e4942"><enum>(B)</enum><text>any person who
violates section 201(a) is punishable by a civil penalty of not more than
$3,000,000.</text>
</subparagraph></paragraph><paragraph id="ID7dc4b718253f4c81abdab188151e835f"><enum>(2)</enum><header>Method of
assessment</header><text>The penalties provided by paragraph (1) shall be
assessed in the same manner as civil penalties imposed under section 5 of the
Federal Trade Commission Act (15 U.S.C. 45).</text>
</paragraph><paragraph id="IDafde08b3442a451fbc13f2ed3a1648da"><enum>(3)</enum><header>Multiple
offenses; mitigating factors</header><text>In assessing the penalty provided by
subsection (a)—</text>
<subparagraph id="IDe850f84cc3c64c4ebeaf690f757ca645"><enum>(A)</enum><text>each day of a
continuing violation shall be considered a separate violation; and</text>
</subparagraph><subparagraph id="ID7929aa134c554c8c87f63f8b7c112661"><enum>(B)</enum><text>the Commission
shall take into consideration the seriousness of the violation and the efforts
of the person committing the violation to remedy the harm caused by the
violation in a timely manner.</text>
</subparagraph></paragraph></subsection><subsection id="ID3cf08776420f409c86cb115e0caffffe"><enum>(b)</enum><header>Criminal
penalty</header><text>Violation of section 201(a) of this subtitle is
punishable by a fine of not more than $1,000,000, imprisonment for not more
than 5 years, or both.</text>
</subsection></section><section id="IDcfe7361aede0422889ade818dd42a2c0"><enum>205.</enum><header>Effect on
other laws</header>
<subsection id="ID1d44c889c1f7489ebe906e9531c2ac72"><enum>(a)</enum><header>Other authority
of commission</header><text>Nothing in this subtitle shall be construed to
limit or affect in any way the Commission's authority to bring enforcement
actions or take any other measure under the Federal Trade Commission Act (15
U.S.C. 41 et seq.) or any other provision of law.</text>
</subsection><subsection id="ID05e2e4f98e904a4c89ad90fd4913c721"><enum>(b)</enum><header>State
law</header><text>Nothing in this subtitle preempts any State law.</text>
</subsection></section></subtitle><subtitle id="idB98EBAE72399464A911698122477D828"><enum>B</enum><header>Strengthening
anti-trust enforcement in the oil and gas industry</header>
<section id="ID4111f5c090344e80bba7a51eb08a7db0"><enum>211.</enum><header>Prohibition on
unilateral withholding</header><text display-inline="no-display-inline">The
Clayton Act (15 U.S.C. 12 et seq.) is amended—</text>
<paragraph id="ID1fd919d724fe4b0c8e43fc9652a4afbb"><enum>(1)</enum><text>by redesignating
section 28 as section 29; and</text>
</paragraph><paragraph id="IDf1b8dd11da874ddabc5f29b96bcbb437"><enum>(2)</enum><text>by inserting
after section 27 the following:</text>
<quoted-block display-inline="no-display-inline" id="id6B38D6E5309945A9A0027F43CDA50ECC" style="OLC">
<section id="ID39a2eaabf0f84f958cbd09f861f2c2b7"><enum>28.</enum><header>Oil and natural
gas</header>
<subsection id="ID0be18a100e2448539279e2972d3189b7"><enum>(a)</enum><header>In
general</header><text>Except as provided in subsection (b), it shall be
unlawful for any person to refuse to sell, or to export or divert, existing
supplies of petroleum, gasoline, or other fuel derived from petroleum, or
natural gas with the primary intention of increasing prices or creating a
shortage in a geographic market.</text>
</subsection><subsection id="ID40aee74899d440b08d0358c3ae9c8750"><enum>(b)</enum><header>Considerations</header><text>In
determining whether a person who has refused to sell, or exported or diverted,
existing supplies of petroleum, gasoline, or other fuel derived from petroleum
or natural gas or curtailed production of such new supplies, has done so with
the intent of increasing prices or creating a shortage in a geographic market
under subsection (a), the court shall consider whether—</text>
<paragraph id="IDc86a68c00d064124b866b852ca1cd793"><enum>(1)</enum><text>the cost of
acquiring, producing, refining, processing, marketing, selling, or otherwise
making such products available has increased; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDd798c625ce8545e8bc679f421d46c247"><enum>(2)</enum><text>the price
obtained from exporting or diverting existing supplies is greater than the
price obtained where the existing supplies are located or are intended to be
shipped.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id86CB8CA7452342858693AB2156C18888"><enum>(c)</enum><header>Shift of burden
of proof</header><text>If the Commission or the Attorney General makes a prima
facie case of withholding supply against a refiner, distributor, or retailer
under this section—</text>
<paragraph commented="no" display-inline="no-display-inline" id="idF76D1D65592B4BA58D1E41EC9E98735B"><enum>(1)</enum><text>the burden of
proof to show the withholding was not done to raise prices shall shift to the
refiner, distributor, or retailer; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id2172A281C8BD469FA4E89D820F3EB947"><enum>(2)</enum><text>a refiner,
distributor, or retailer may rebut the prima facie case by showing that the
action that is the basis of the alleged violation was taken in a good faith
effort to respond to competition or for another legitimate business
reason.</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></section><section id="IDbee0a290a8864d468253adfe5c3f7bd8"><enum>212.</enum><header>Modification
of merger standard in Clayton Act</header><text display-inline="no-display-inline">Under section 7 of the Clayton Act, a merger
in the oil or gas industry shall only be allowed if it can be proven that the
new entity would not appreciably diminish competition.</text>
</section><section id="IDa6e96552461a4979a88f151e0793ffdc"><enum>213.</enum><header>Study by the
Government Accountability Office</header>
<subsection id="ID7dba627446f942e595bf03c2aa41ec3d"><enum>(a)</enum><header>Definition</header><text>In
this section, the term <term>covered consent decree</term> means a consent
decree—</text>
<paragraph id="IDa1821a13c9b544bea94b3ecdda31e10a"><enum>(1)</enum><text>to which either
the Federal Trade Commission or the Department of Justice is a party;</text>
</paragraph><paragraph id="ID1ab46edcb28746d48f2d2c2de60b9a11"><enum>(2)</enum><text>that was entered
by the district court not earlier than 10 years before the date of enactment of
this Act;</text>
</paragraph><paragraph id="ID76bb788691fe4e7e93a1f3ff5be4e01f"><enum>(3)</enum><text>that required
divestitures; and</text>
</paragraph><paragraph id="ID611951219f0d43c1a5eafe852b0ebba1"><enum>(4)</enum><text>that involved a
person engaged in the business of exploring for, producing, refining, or
otherwise processing, storing, marketing, selling, or otherwise making
available petroleum, gasoline or other fuel derived from petroleum, or natural
gas.</text>
</paragraph></subsection><subsection id="IDb577fb1d7ee949028ff2c9df85bda991"><enum>(b)</enum><header>Requirement for
a study</header><text>Not later than 180 days after the date of enactment of
this Act, the Comptroller General of the United States shall conduct a study
evaluating the effectiveness of divestitures required under covered consent
decrees.</text>
</subsection><subsection id="ID5947db45c72a483db330c17580861b03"><enum>(c)</enum><header>Requirement for
a report</header><text>Not later than 180 days after the date of enactment of
this Act, the Comptroller General shall submit a report to Congress, the
Federal Trade Commission, and the Department of Justice regarding the findings
of the study conducted under subsection (b).</text>
</subsection><subsection id="ID086ff36557ae4ae891bd1a294c8ec9ef"><enum>(d)</enum><header>Federal agency
consideration</header><text>Upon receipt of the report required by subsection
(c), the Attorney General or the Chairman of the Federal Trade Commission, as
appropriate, shall consider whether any additional action is required to
restore competition or prevent a substantial lessening of competition occurring
as a result of any transaction that was the subject of the study conducted
under subsection (b).</text>
</subsection></section><section id="ID1dd4b9d2890e49e59f3501c439c699b7"><enum>214.</enum><header>Joint Federal
and State task force</header><text display-inline="no-display-inline">The
Attorney General and the Chairman of the Federal Trade Commission shall
establish a joint Federal-State task force, which shall include the attorney
general of any State that chooses to participate, to investigate information
sharing (including through the use of exchange agreements and commercial
information services) among persons in the business of exploring for,
producing, refining, or otherwise processing, storing, marketing, selling, or
otherwise making available petroleum, gasoline or other fuel derived from
petroleum, or natural gas (including any person about which the Energy
Information Administration collects financial and operating data as part of its
Financial Reporting System).</text>
</section></subtitle><subtitle id="idA7F791074EDF4B23AD4E7CAD800AB8F4"><enum>C</enum><header>Improving
oversight of oil and gas market speculation</header>
<section id="ID868a71dfa5264490a75ac7bb9bc1365c"><enum>221.</enum><header>Short
title</header><text display-inline="no-display-inline">This subtitle may be
cited as the <quote><short-title>Oil and Gas Traders
Oversight Act of 2006</short-title></quote>.</text>
</section><section id="ID870a6538c774444d9082e64eca86b49d"><enum>222.</enum><header>Reporting and
recordkeeping for positions involving energy commodities</header>
<subsection id="ID06aab26851104852b0427eda27cdbb64"><enum>(a)</enum><header>In
general</header><text>Section 2(h) of the Commodity Exchange Act (7 U.S.C.
2(h)) is amended by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="idB779C1D894CE4A93AA9079EC467F29D7" style="OLC">
<paragraph id="ID59518e800cc44c32a901c5e2f6e3decb"><enum>(7)</enum><header>Reporting and
recordkeeping for positions involving energy commodities</header>
<subparagraph id="IDed2bb28a947241ad9f3b52ccd5bcd587"><enum>(A)</enum><header>Definitions</header><text>In
this paragraph:</text>
<clause id="ID0c7ecf06e8bf4b4a8ffb17bb107fefb4"><enum>(i)</enum><header>Domestic
terminal</header><text>The term <term>domestic terminal</term> means a
technology, software, or other means of providing electronic access within the
United States to a contract, agreement, or transaction traded on a foreign
board of trade.</text>
</clause><clause id="ID02a36698d2b34d939bb61ff8a9936df2"><enum>(ii)</enum><header>Energy
commodity</header><text>The term <term>energy commodity</term> means a
commodity or the derivatives of a commodity that is used primarily as a source
of energy, including—</text>
<subclause id="ID4d2a59cfcf804244af7bc412deb34646"><enum>(I)</enum><text>coal;</text>
</subclause><subclause id="IDfd87f09416b94557a1d8c3ff5b27f173"><enum>(II)</enum><text>crude
oil;</text>
</subclause><subclause id="IDa2e9d7a1fba84b198490265c45a17c11"><enum>(III)</enum><text>gasoline;</text>
</subclause><subclause id="ID474ec83e04ab4c9ea67145a60b7c1f83"><enum>(IV)</enum><text>heating
oil;</text>
</subclause><subclause id="ID3678bb3fcc4a4c5085fdc83d245049de"><enum>(V)</enum><text>diesel
fuel;</text>
</subclause><subclause id="ID7bccf8e47332403ab12802cf569d896d"><enum>(VI)</enum><text>electricity;</text>
</subclause><subclause id="ID5b016faced3f4542bf600d58c928f615"><enum>(VII)</enum><text>propane;
and</text>
</subclause><subclause id="ID2a997c16e9e64db2bc70b6afe17a4a14"><enum>(VIII)</enum><text>natural
gas.</text>
</subclause></clause><clause id="ID53c171191e054bca8ea765314e5489eb"><enum>(iii)</enum><header>Reportable
contract</header><text>The term <term>reportable contract</term> means—</text>
<subclause id="ID2319c24189ed465f9d4f877033ba2ec1"><enum>(I)</enum><text>a contract,
agreement, or transaction involving an energy commodity , executed on an
electronic trading facility, or</text>
</subclause><subclause id="ID358459aab2d5436e813af398cb4ec818"><enum>(II)</enum><text>a contract,
agreement, or transaction for future delivery involving an energy commodity for
which the underlying energy commodity has a physical delivery point within the
United States and that is executed through a domestic terminal.</text>
</subclause></clause></subparagraph><subparagraph id="ID9f9a5d9effa14d54b910b32a21d89665"><enum>(B)</enum><header>Record
keeping</header><text>The Commission, by rule, shall require any person
holding, maintaining, or controlling any position in any reportable contract
under this section—</text>
<clause id="ID98bf6b794c5a4ab1a9f1f4e31bb39073"><enum>(i)</enum><text>to maintain such
records as directed by the Commission for a period of 5 years, or longer, if
directed by the Commission; and</text>
</clause><clause id="ID3ea6949390b348f6984c689d7e4ba574"><enum>(ii)</enum><text>to provide such
records upon request to the Commission or the Department of Justice.</text>
</clause></subparagraph><subparagraph id="ID3adbe7a46c624697978f0f1b5ef39cf5"><enum>(C)</enum><header>Reporting of
positions involving energy commodities</header><text>The Commission shall
prescribe rules requiring such regular or continuous reporting of positions in
a reportable contract in accordance with such requirements regarding size
limits for reportable positions and the form, timing, and manner of filing such
reports under this paragraph, as the Commission shall determine.</text>
</subparagraph><subparagraph id="ID0adfa004e53f4ab2b11595d51fe246b0"><enum>(D)</enum><header>Other rules not
affected</header>
<clause id="ID1d7532cfb7e2466bb56a317babf088fe"><enum>(i)</enum><header>In
general</header><text>Except as provided in clause (ii), this paragraph does
not prohibit or impair the adoption by any board of trade licensed, designated,
or registered by the Commission of any bylaw, rule, regulation, or resolution
requiring reports of positions in any agreement, contract, or transaction made
in connection with a contract of sale for future delivery of an energy
commodity (including such a contract of sale), including any bylaw, rule,
regulation, or resolution pertaining to filing or recordkeeping, which may be
held by any person subject to the rules of the board of trade.</text>
</clause><clause id="IDa36df417abf84927b6f8c91060f14b14"><enum>(ii)</enum><header>Exception</header><text>Any
bylaw, rule, regulation, or resolution established by a board of trade
described in clause (i) shall not be inconsistent with any requirement
prescribed by the Commission under this paragraph.</text>
</clause></subparagraph><subparagraph id="ID2acccc2534894b47bab418a35f9d92c3"><enum>(E)</enum><header>Contract,
agreement, or transaction for future delivery</header><text>Notwithstanding
sections 4(b) and 4a, the Commission shall subject a contract, agreement, or
transaction for future delivery in an energy commodity to the requirements
established by this
paragraph.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDb8dd7a5d78234ddeb1864d86e75d7b57"><enum>(b)</enum><header>Conforming
amendments</header><text>Section 4a(e) of the Commodity Exchange Act (7 U.S.C.
6a(e)) is amended—</text>
<paragraph id="ID2245e5b36f4d4202a1ace149ad2b783b"><enum>(1)</enum><text>in the first
sentence—</text>
<subparagraph id="IDd14ccb9be70942a39c37711b236c3df2"><enum>(A)</enum><text>by inserting
<quote>or by an electronic trading facility operating in reliance on section
2(h)(3)</quote> after <quote>registered by the Commission</quote>; and</text>
</subparagraph><subparagraph id="IDcfaf6e41a6444a8da898c29fefb1a42a"><enum>(B)</enum><text>by inserting
<quote>electronic trading facility,</quote> before <quote>or such board of
trade</quote>; and</text>
</subparagraph></paragraph><paragraph id="ID8250ea2097a044b2b652acabc140d75c"><enum>(2)</enum><text>in the second
sentence, by inserting <quote>or by an electronic trading facility operating in
reliance on section 2(h)(3)</quote> after <quote>registered by the
Commission</quote>.</text>
</paragraph></subsection></section></subtitle><subtitle id="idAB1C3423A1E84DA5A16C06DD6CB38303"><enum>D</enum><header>Low income energy
price relief</header>
<section id="IDf86ea8c0fbee4e31a887fef844025b8b"><enum>231.</enum><header>Adjustment of
standard utility allowance under the food stamp program for high energy
costs</header><text display-inline="no-display-inline">Section 5(e)(6)(C) of
the Food Stamp Act of 1977 (7 U.S.C. 2014(e)(6)(C)) is amended by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id040A44EC2370412893F0B440BF61D65A" style="OLC">
<clause id="ID54711bc22a1845e79c985086a600a730"><enum>(v)</enum><header>Energy cost
increases</header><text>If the Energy Information Administration projects that
energy costs for the average household in the United States will increase by
more than 20 percent during the winter heating months (November through April)
of the fiscal year, the amount of a standard utility allowance used by a State
for all or part of the fiscal year under this subparagraph may be adjusted to
reflect the amount of the projected increase in energy
costs.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="id9E6B43D9F3E14792A3EA7015330A8B6E"><enum>232.</enum><header>Public housing
energy cost assistance</header>
<subsection id="id8004C0F1DDAC4BD19BEA5C596F3A2E4E"><enum>(a)</enum><header>Utility
allowance</header><text display-inline="yes-display-inline">Section 8(o)(1)(D)
of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(1)(D)) is
amended—</text>
<paragraph id="id3E181806ED20464189B2A07518A09906"><enum>(1)</enum><text display-inline="yes-display-inline">by striking <quote>The Secretary</quote>
and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="id5428111F9FC7402D8485F63FB7030A0E" style="OLC">
<clause id="idE5FF119C6F0E427AA8CC73BD85EA7136"><enum>(i)</enum><header>In
general</header><text>Except as provided under clause (ii), the
Secretary</text>
</clause><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="id4C9A8F281E024F52892A9C26A2E37BC3"><enum>(2)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id71EF44DDB172424788EEDB5EF54C5A2E" style="OLC">
<clause commented="no" display-inline="no-display-inline" id="id90BF242BE40F4659B1DF56CA7B74EB14"><enum>(ii)</enum><header>Exception for
increases in utility allowances</header><text display-inline="yes-display-inline">The payment standard established under
subparagraph (B) may exceed 110 percent of the fair market rental established
under subsection (c) for the same size of dwelling unit in the same market area
without prior approval by the Secretary, if a public housing agency determines
that an increase in the utility allowance of such agency, in combination with
prevailing rents, requires such limit to be
exceeded.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="idFD048A07175E43E5B5952DF3F9D58A63"><enum>(b)</enum><header>Annual
adjustment factor</header><text>Section 8(o) of the United States Housing Act
of 1937 (42 U.S.C. 1437f(o)) is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="id456EAC5AE74046F3AABE5D3759A3FD81" style="OLC">
<paragraph id="id7ED39A0C21C04030B7DB8F5505FFABF0"><enum>(21)</enum><header>Annual
adjustment factor for utility costs</header><text>Beginning on October 1, 2006,
and each October 1 thereafter, the Secretary, in consultation with the
Secretary of Energy, shall, based on the most recent data available, adjust the
utility cost component of the annual adjustment factors used to calculate
funding for public housing agencies under this
section.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idDBE3D35207FB48CB8DC02B7AF131AFB1"><enum>(c)</enum><header>Report</header><text>Section
8(o)(1)(E) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(1)(E))
is amended—</text>
<paragraph id="id0C1593CD9EA84E94AAE85DD7861E56E1"><enum>(1)</enum><text>in clause (i), by
striking <quote>; and</quote> and inserting a semicolon;</text>
</paragraph><paragraph id="idFC63F3F276F54B089B1FF6B5A6ECC534"><enum>(2)</enum><text>in clause (ii),
by striking the period and inserting a semicolon; and</text>
</paragraph><paragraph id="idD647437805B243D89729032F225FBEFA"><enum>(3)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id295B01EAF0314BBE8F5088FA9CC3D6B0" style="OLC">
<clause id="idDA135524CFC64470A6517F66194280F1"><enum>(iii)</enum><text>shall submit a
report, on an annual basis, to the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services of the House of
Representatives on the number and percentage of families—</text>
<subclause id="idEA992EDFE4204B728F5B51374FA2D698"><enum>(I)</enum><text>in each public
housing agency receiving assistance under this subsection that pay more than 30
percent of their income for rent and utility costs; and</text>
</subclause><subclause id="id01145CE9685D46A9A118B523577135C9"><enum>(II)</enum><text>in all public
housing agencies receiving assistance under this subsection that pay more than
30 percent of their income for rent and utility costs; and</text>
</subclause></clause><clause id="id40A2AB032CB7436F862D59D8FC941CA1"><enum>(iv)</enum><text>shall publish in
the Federal Register and make available on the Internet website maintained by
the Department of Housing and Urban Development the reports required under
clause
(iii).</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection></section><section id="ID622fab2a6d1d4b45ac2effa04f865ba1"><enum>233.</enum><header>Refundable tax
credit for low-income residential energy cost assistance</header>
<subsection id="IDfec9651346994343b15ae5247eba4bae"><enum>(a)</enum><header>In
general</header><text>Subpart C of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 (relating to refundable credits) is amended by
redesignating section 36 as section 37 and by inserting after section 35 the
following new section:</text>
<quoted-block display-inline="no-display-inline" id="idF1B83E24563F4DB68F2C4E198FD6B286" style="OLC">
<section id="IDfb949c98bb9844a69d9003e38273206f"><enum>36.</enum><header>Credit for
residential energy cost assistance</header>
<subsection id="IDef4f2729ac2d4d3188edf34c19290eb9"><enum>(a)</enum><header>General
rule</header><text>In the case of any individual, there shall be allowed as a
credit against the tax imposed by this subtitle for the taxable year an amount
equal to the lesser of—</text>
<paragraph id="idAB0EC8F2A63649F4AAFC78BBDEA6C30A"><enum>(1)</enum><text>20 percent of the
qualified residential energy costs of the taxpayer during such taxable year,
or</text>
</paragraph><paragraph id="id69895C7E68064999A2B6DBF52CDA8A09"><enum>(2)</enum><text>$200 ($300 in the
case of a joint return).</text>
</paragraph></subsection><subsection id="id8638B365216F4D3CAF03431DADE49C34"><enum>(b)</enum><header>Income
limitation</header>
<paragraph id="id1AA5C2A36B7F447BBF0320B62B56B1A1"><enum>(1)</enum><header>In
general</header><text>The amount allowable as a credit under subsection (a) for
any taxable year shall be reduced (but not below zero) by an amount which bears
the same ratio to the amount so allowable (determined without regard to this
paragraph) as—</text>
<subparagraph id="IDc0ab86b01b7341c198d71c67a65f7dc4"><enum>(A)</enum><text>the amount (if
any) by which the taxpayer's adjusted gross income exceeds $35,000 ($70,000 in
the case of a joint return), bears to</text>
</subparagraph><subparagraph id="IDea556e22bfa642abaf01cdb46d45aad7"><enum>(B)</enum><text>$10,000.</text>
</subparagraph></paragraph><paragraph id="id4B26F9DEFF414CF187297B14A9EFCC29"><enum>(2)</enum><header>Determination
of adjusted gross income</header><text>For purposes of paragraph (1), adjusted
gross income shall be determined without regard to sections 911, 931, and
933.</text>
</paragraph></subsection><subsection id="ID2c8c57a8ed9d4c3c9f3df7be27baaab2"><enum>(c)</enum><header>Definitions and
special rules</header><text>For purposes of this section—</text>
<paragraph id="ID57d173607e534bbea5207de1a2e1bd25"><enum>(1)</enum><header>Qualified
residential energy costs</header><text>The term <term>qualified residential
energy costs</term> means, with respect to any principal residence of the
taxpayer located in the United States, the costs paid or incurred by the
taxpayer for the period beginning after December 31, 2005, and ending before
January 1, 2008, for any energy utility and home energy fuel.</text>
</paragraph><paragraph id="ID5a32bca60fd24dc4a7ee0767170d98a9"><enum>(2)</enum><header>Reduction for
grants</header><text>The amount of qualified residential energy costs which may
be taken into account with respect to such period shall be reduced by any
amount received by the taxpayer during such period for any residential energy
cost under the Low-Income Home Energy Assistance program under title XXVI of
the Omnibus Budget Reconciliation Act of 1981 (42 U.S.C. 8621 et seq.).</text>
</paragraph><paragraph id="ID08dbf716ea8845d7b9ea76c11bdcadb9"><enum>(3)</enum><header>Principal
residence</header><text>The term <term>principal residence</term> has the same
meaning as in section 121, except that—</text>
<subparagraph id="ID2d060afb0a7a4609b631ce7488c1306d"><enum>(A)</enum><text>no ownership
requirement shall be imposed, and</text>
</subparagraph><subparagraph id="ID9591e7c2ab1746fb92d170f227824fec"><enum>(B)</enum><text>the principal
residence must be used by the taxpayer as the taxpayer's residence during the
taxable year.</text>
</subparagraph></paragraph><paragraph id="ID13782f5ae42c40708c55a7f11b3c244c"><enum>(4)</enum><header>Certain persons
not eligible</header><text>This section shall not apply to any individual with
respect to whom a deduction under section 151 is allowable to another taxpayer
for a taxable year beginning in the calendar year in which such individual's
taxable year begins.</text>
</paragraph><paragraph id="ID958da48b09734c58a6495e2992a9ee5c"><enum>(5)</enum><header>Homeowners
associations</header><text>The application of this section to homeowners
associations (as defined in section 528(c)(1)) or members of such associations,
and tenant-stockholders in cooperative housing corporations (as defined in
section 216), shall be allowed by allocation, apportionment, or otherwise, to
the individuals paying, directly or indirectly, for the qualified residential
energy cost so incurred.</text>
</paragraph></subsection><subsection id="ID57f91dd4a608475fab808d7d75d7355f"><enum>(d)</enum><header>Regulations</header><text>The
Secretary may prescribe such regulations and other guidance as may be necessary
or appropriate to carry out this
section.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDb842edce2cbf4587a9be5ebff45b290e"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="ID29a8fc20129449369744af8223a039cd"><enum>(1)</enum><text>Section
1324(b)(2) of title 31, United States Code, is amended by striking
<quote>or</quote> before <quote>enacted</quote> and by inserting before the
period at the end <quote>, or from section 36 of such Code</quote>.</text>
</paragraph><paragraph id="ID68ef16a3a66f4ab3b6f5a6f956f03928"><enum>(2)</enum><text>The table of
sections for subpart C of part IV of subchapter A of chapter 1 of the Internal
Revenue Code of 1986 is amended by striking the item relating to section 35 and
by adding at the end the following new items:</text>
<quoted-block display-inline="no-display-inline" id="idA1DF666540F9474C8952803EFCC643C6" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 36. Credit for residential
energy cost assistance.</toc-entry>
<toc-entry bold="off" level="section">Sec. 37. Overpayments of
tax.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDc5261e20f1c44ec8b935f4415a07d0f2"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2005.</text>
</subsection></section></subtitle><subtitle id="id4688F0C9F95E479385C8B3C3FA9C0CE8"><enum>E</enum><header>Small business
and agricultural producers energy emergency relief program</header>
<section id="id979516966CE845E2BD9E6D7761559ED0"><enum>241.</enum><header>Energy
emergency disaster relief loans to small business and agricultural
producers</header>
<subsection id="id12C321AB49454C9490168D9777675F20"><enum>(a)</enum><header>Definitions</header><text display-inline="yes-display-inline">In this section—</text>
<paragraph id="idC8CEAA55DA194D87BB226F738BC5D4CB"><enum>(1)</enum><text display-inline="yes-display-inline">the terms <quote>Administration</quote> and
<quote>Administrator</quote> mean the Small Business Administration and the
Administrator thereof, respectively;</text>
</paragraph><paragraph id="idF36439E6EA674E298F7F9ED6E519EE31"><enum>(2)</enum><text display-inline="yes-display-inline">the term <quote>Secretary</quote> means the
Secretary of Agriculture; and</text>
</paragraph><paragraph id="idA7EB0A1188A4460F9749156D1885B0EB"><enum>(3)</enum><text>the term
<quote>small business concern</quote> has the same meaning as in section 3 of
the Small Business Act (15 U.S.C. 632).</text>
</paragraph></subsection><subsection id="id56BEA2E85BF2497CAA58BF22D44C6729"><enum>(b)</enum><header>Small business
producer energy emergency disaster loan program</header>
<paragraph id="id083E3B9A9AC346C79864CE5F4AF87664"><enum>(1)</enum><header>Disaster loan
authority</header><text display-inline="yes-display-inline">Section 7(b) of the
<act-name parsable-cite="SBA">Small Business Act</act-name> (15 U.S.C. 636(b))
is amended by inserting immediately after paragraph (3) the following:</text>
<quoted-block act-name="Small Business Act" id="ID77B318DDC4F54C0B8EF894988E8A262B">
<paragraph id="ID100EE5BB259343D6B42DF74A98F5831B"><enum>(4)</enum><header>Energy disaster
loans</header>
<subparagraph id="id7F08EAB841EA423D8B43A049802AF19D"><enum>(A)</enum><header>Definitions</header><text>For
purposes of this paragraph—</text>
<clause id="IDAA477015498045659E18803B8A2685E7"><enum>(i)</enum><text>the term
<term>base price index</term> means the moving average of the closing unit
price on the New York Mercantile Exchange for heating oil, natural gas,
gasoline, or propane for the 10 days that correspond to the trading days
described in clause (ii) in each of the most recent 2 preceding years;</text>
</clause><clause id="IDF24F998DBEC24F1BBB231753A11BDA8D"><enum>(ii)</enum><text>the term
<term>current price index</term> means the moving average of the closing unit
price on the New York Mercantile Exchange, for the 10 most recent trading days,
for contracts to purchase heating oil, natural gas, gasoline, or propane during
the subsequent calendar month, commonly known as the <quote>front
month</quote>; and</text>
</clause><clause id="IDA9A166433D0D42268F00C5488DBB2B44"><enum>(iii)</enum><text>the term
<term>significant increase</term> means—</text>
<subclause id="ID837805F44427440C91DE08A928018DD5"><enum>(I)</enum><text>with respect to
the price of heating oil, natural gas, gasoline, or propane, any time that the
current price index exceeds the base price index by not less than 40 percent;
and</text>
</subclause><subclause id="IDB497804BB0C941088C61FF8BB622247B"><enum>(II)</enum><text>with respect to
the price of kerosene, any increase which the Administrator, in consultation
with the Secretary of Energy, determines to be significant.</text>
</subclause></clause></subparagraph><subparagraph id="ID378D1835686F4C35AF091555C24244F0"><enum>(B)</enum><header>Loan
authority</header>
<clause id="id13F3D2A86E754E7B98988E01A158D9D6"><enum>(i)</enum><header>In
general</header><text>The Administration may make such loans, either directly
or in cooperation with banks or other lending institutions through agreements
to participate on an immediate or deferred basis, to assist a small business
concern described in clause (ii).</text>
</clause><clause id="id945FE3D03A0349EE9EE715F7FAF68555"><enum>(ii)</enum><header>Criteria</header><text>A
small business concern described in this clause is a small business concern
that has suffered or that is likely to suffer substantial economic injury on or
after January 1, 2005, as the result of a significant increase in the price of
heating oil, natural gas, gasoline, propane, or kerosene occurring on or after
January 1, 2005.</text>
</clause></subparagraph><subparagraph id="ID932873A471874EC5A7693797C868CB10"><enum>(C)</enum><header>Interest
rate</header><text>Any loan or guarantee extended pursuant to this paragraph
shall be made at the same interest rate as economic injury loans under
paragraph (2).</text>
</subparagraph><subparagraph id="IDEA1EE9C862C64F3BBAEED0817B9F9CF5"><enum>(D)</enum><header>Maximum
amount</header><text>No loan may be made under this paragraph, either directly
or in cooperation with banks or other lending institutions through agreements
to participate on an immediate or deferred basis, if the total amount
outstanding and committed to the borrower under this subsection would exceed
$1,500,000, unless such borrower constitutes a major source of employment in
its surrounding area, as determined by the Administrator, in which case the
Administrator, in the discretion of the Administrator, may waive the $1,500,000
limitation.</text>
</subparagraph><subparagraph id="ID2B91743A98024B82B99769E6BABD7AFE"><enum>(E)</enum><header>Disaster
declaration</header><text>For purposes of assistance under this
paragraph—</text>
<clause id="ID6FD229270F624FEAA499A535E9A84773"><enum>(i)</enum><text>a
declaration of a disaster area based on conditions specified in this paragraph
shall be required, and shall be made by the President or the Administrator;
or</text>
</clause><clause id="ID1E9A4B9D3AB8467BB10E64E1CD52DD4A"><enum>(ii)</enum><text>if no
declaration has been made pursuant to clause (i), the Governor of a State in
which a significant increase in the price of heating oil, natural gas,
gasoline, propane, or kerosene has occurred may certify to the Administration
that small business concerns have suffered economic injury as a result of such
increase and are in need of financial assistance which is not otherwise
available on reasonable terms in that State, and upon receipt of such
certification, the Administration may make such loans as would have been
available under this paragraph if a disaster declaration had been
issued.</text>
</clause></subparagraph><subparagraph id="ID39D61D89E0434DACBCC6E24D4EA5E756"><enum>(F)</enum><header>Conversion</header><text>Notwithstanding
any other provision of law, loans made under this paragraph may be used by a
small business concern described in subparagraph (B) to convert from the use of
heating oil, natural gas, gasoline, propane, or kerosene to a renewable or
alternative energy source, including agriculture and urban waste, geothermal
energy, cogeneration, solar energy, wind energy, or fuel
cells.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="ID3C2FB7B5460449AF91FCC5BCE18F0DBE"><enum>(2)</enum><header>Conforming
amendments</header><text>Section 3(k) of the <act-name parsable-cite="SBA">Small Business Act</act-name> (15 U.S.C. 632(k)) is
amended—</text>
<subparagraph id="ID7B9DCE9916D847DB812639D3063D9562"><enum>(A)</enum><text>by inserting
<quote>, significant increase in the price of heating oil, natural gas,
gasoline, propane, or kerosene</quote> after <quote>civil disorders</quote>;
and</text>
</subparagraph><subparagraph id="ID4C3456BEBBCE4526B51278BC8723DE8D"><enum>(B)</enum><text>by inserting
<quote>other</quote> before <quote>economic</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="id6A6717400431491EA91C867C61D66EB4"><enum>(c)</enum><header>Agricultural
producer emergency loans</header>
<paragraph id="ID28D727ED9A8C436BB729BBA9A04AC136"><enum>(1)</enum><header>In
general</header><text>Section 321(a) of the <act-name parsable-cite="CFRDA">Consolidated Farm and Rural Development Act</act-name> (7
U.S.C. 1961(a)) is amended—</text>
<subparagraph id="ID6DE28418321444F399C39CDC04FB6325"><enum>(A)</enum><text>in the first
sentence—</text>
<clause id="IDD66B7CB0F42B452BB7FC6547019F4895"><enum>(i)</enum><text>by
striking <quote>operations have</quote> and inserting <quote>operations (i)
have</quote>; and</text>
</clause><clause id="IDC4D3328C0F4745BEA8F4B637A3C08F0E"><enum>(ii)</enum><text>by
inserting before <quote>: Provided,</quote> the following: <quote>, or (ii)(I)
are owned or operated by such an applicant that is also a small business
concern (as defined in section 3 of the <act-name parsable-cite="SBA">Small
Business Act</act-name> (15 U.S.C. 632)), and (II) have suffered or are likely
to suffer substantial economic injury on or after August 24, 2005, as the
result of a significant increase in energy costs or input costs from energy
sources occurring on or after August 24, 2005, in connection with an energy
emergency declared by the President or the Secretary</quote>;</text>
</clause></subparagraph><subparagraph id="IDA137E7ACE04A42D0AD1E2EF9C172B9FC"><enum>(B)</enum><text>in the third
sentence, by inserting before the period at the end the following: <quote>or by
an energy emergency declared by the President or the Secretary</quote>;
and</text>
</subparagraph><subparagraph id="ID12A99CA9BD934D00A3156DDE6F5846DC"><enum>(C)</enum><text>in the fourth
sentence—</text>
<clause id="ID8B4CBEEA147F4C7F8B92D7F3439DBAE9"><enum>(i)</enum><text>by
inserting <quote>or energy emergency</quote> after <quote>natural
disaster</quote> each place that term appears; and</text>
</clause><clause id="ID76A7BE6919AF41D398B9DDE1A6D630B9"><enum>(ii)</enum><text>by
inserting <quote>or declaration</quote> after <quote>emergency
designation</quote>.</text>
</clause></subparagraph></paragraph><paragraph id="idC9EF204B3D65443997872BCC4A71044A"><enum>(2)</enum><header>Funding</header><text>Funds
available on the date of enactment of this Act for emergency loans under
subtitle C of the <act-name parsable-cite="CFRDA">Consolidated Farm and Rural
Development Act</act-name> (7 U.S.C. 1961 et seq.) shall be available to carry
out the amendments made by paragraph (1) to meet the needs resulting from
natural disasters.</text>
</paragraph></subsection><subsection id="idCDABC1479C9A4A01A506C6D4D28FD32F"><enum>(d)</enum><header>Guidelines and
rulemaking</header>
<paragraph id="ID4723AD33BE604A9EA7644CCD77C86837"><enum>(1)</enum><header>Guidelines</header><text>Not
later than 30 days after the date of enactment of this Act, the Administrator
and the Secretary shall each issue guidelines to carry out subsections (b) and
(c), respectively, and the amendments made thereby, which guidelines shall
become effective on the date of their issuance.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID0A104CF451324F47B5070A3E015372BA"><enum>(2)</enum><header>Rulemaking</header><text>Not
later than 30 days after the date of enactment of this Act, the Administrator,
after consultation with the Secretary of Energy, shall promulgate regulations
specifying the method for determining a significant increase in the price of
kerosene under section 7(b)(4)(A)(iii)(II) of the <act-name parsable-cite="SBA">Small Business Act</act-name>, as added by this
section.</text>
</paragraph></subsection><subsection id="ID2E2ECB74636943BB90CD1A5FA63BCE9A"><enum>(e)</enum><header>Reports</header>
<paragraph id="idBFF8457F6E0C41C0BFEA3CA6DC746101"><enum>(1)</enum><header>Small business
administration</header><text>Not later than 12 months after the date on which
the Administrator issues guidelines under subsection (d)(1), and annually
thereafter, until the date that is 12 months after the end of the effective
period of section 7(b)(4) of the Small Business Act, as added by this section,
the Administrator shall submit to the Committee on Small Business and
Entrepreneurship of the Senate and the Committee on Small Business of the House
of Representatives, a report on the effectiveness of the assistance made
available under section 7(b)(4) of the <act-name parsable-cite="SBA">Small
Business Act</act-name>, as added by this section, including—</text>
<subparagraph id="ID23A0082E29EB4673B4CDF9D3874698B2"><enum>(A)</enum><text>the number of
small business concerns that applied for a loan under that section 7(b)(4) and
the number of those that received such loans;</text>
</subparagraph><subparagraph id="ID48A254DC5559491497302634C1A6F2C3"><enum>(B)</enum><text>the dollar value
of those loans;</text>
</subparagraph><subparagraph id="ID3704278484F64866863F302E7DC0B91D"><enum>(C)</enum><text>the States in
which the small business concerns that received such loans are located;</text>
</subparagraph><subparagraph id="IDE3FAB17986FA4816A79CB21A29C3AD65"><enum>(D)</enum><text>the type of
energy that caused the significant increase in the cost for the participating
small business concerns; and</text>
</subparagraph><subparagraph id="IDABE85899B0244A8CB8388FE193B797CC"><enum>(E)</enum><text>recommendations
for ways to improve the assistance provided under that section 7(b)(4), if
any.</text>
</subparagraph></paragraph><paragraph id="IDC33011523AAA41EF9E8598D62D890D5E"><enum>(2)</enum><header>Department of
agriculture</header><text>Not later than 12 months after the date on which the
Secretary issues guidelines under subsection (d)(1), and annually thereafter,
until the date that is 12 months after the end of the effective period of the
amendments made to section 321(a) of the Consolidated Farm and Rural
Development Act (7 U.S.C. 1961(a)) by this section, the Secretary shall submit
to the Committee on Small Business and Entrepreneurship and the Committee on
Agriculture, Nutrition, and Forestry of the Senate and to the Committee on
Small Business and the Committee on Agriculture of the House of
Representatives, a report that—</text>
<subparagraph id="ID326B9735CE604B7EA1615040C5A80A0F"><enum>(A)</enum><text>describes the
effectiveness of the assistance made available under section 321(a) of the
<act-name parsable-cite="CFRDA">Consolidated Farm and Rural Development
Act</act-name> (7 U.S.C. 1961(a)), as amended by this section; and</text>
</subparagraph><subparagraph id="ID2D416DAFE78142569A9CE0161D56CB23"><enum>(B)</enum><text>contains
recommendations for ways to improve the assistance provided under such section
321(a).</text>
</subparagraph></paragraph></subsection><subsection id="id8E7B43AE8D43428F9A222849D581ED84"><enum>(f)</enum><header>Effective
date</header>
<paragraph id="ID2209B7AF2525468BA206C88860C92E67"><enum>(1)</enum><header>Small
business</header><text>The amendments made by subsection (b) shall apply during
the 4-year period beginning on the earlier of the date on which guidelines are
published by the Administrator under subsection (d)(1), or 30 days after the
date of enactment of this Act, with respect to assistance under section 7(b)(4)
of the <act-name parsable-cite="SBA">Small Business Act</act-name>, as added by
this section.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA1573267F310401E91565556AA445D22"><enum>(2)</enum><header>Department of
agriculture</header><text>The amendments made by subsection (c) shall apply
during the 4-year period beginning on the earlier of the date on which
guidelines are published by the Secretary under subsection (d)(1), or 30 days
after the date of enactment of this Act, with respect to assistance under
section 321(a) of the <act-name parsable-cite="CFRDA">Consolidated Farm and
Rural Development Act</act-name> (7 U.S.C. 1961(a)), as amended by this
section.</text>
</paragraph></subsection></section></subtitle><subtitle id="id0827D2266EB342F185EF4ECE93652D4A"><enum>F</enum><header>Public access to
Federal alternative refueling stations</header>
<section id="idB6FA4117179A4D31B7631F666055275D"><enum>251.</enum><header>Access to
Federal alternative refueling stations</header>
<subsection id="ID6203b0cda3aa4412b7c527755cf675b8"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="IDb67375c57eec422ead75c35294b12414"><enum>(1)</enum><header>Alternative
fuel refueling station</header><text>The term <term>alternative fuel refueling
station</term> has the meaning given the term <term>qualified alternative fuel
vehicle refueling property</term> in section 30C(c)(1) of the Internal Revenue
Code of 1986.</text>
</paragraph><paragraph id="IDf9702e56d4064478b7af40cadc24c06e"><enum>(2)</enum><header>Secretary</header><text>The
term <term>Secretary</term> means the Secretary of Energy.</text>
</paragraph></subsection><subsection id="IDeee6bd8a9c424f1ba05740c712d7101f"><enum>(b)</enum><header>Access</header><text>Not
later than 18 months after the date of enactment of this Act—</text>
<paragraph id="IDc6141702299c4a2da421236412257d79"><enum>(1)</enum><text>except as
provided in subsection (d)(1), any Federal property that includes at least 1
fuel refueling station shall include at least 1 alternative fuel refueling
station; and</text>
</paragraph><paragraph id="IDd310ab6b04254dc98d209c6a4816c6b8"><enum>(2)</enum><text>except as
provided in subsection (d)(2), any alternative fuel refueling station located
on property owned by the Federal Government shall permit full public access for
the purpose of refueling using alternative fuel.</text>
</paragraph></subsection><subsection id="IDc6b4a9363ab44c5e9f46db38277d0391"><enum>(c)</enum><header>Duration</header><text>The
requirements described in subsection (b) shall remain in effect until the
earlier of—</text>
<paragraph id="ID39fad2719af84c51b3c539c8cba87592"><enum>(1)</enum><text>the date that is
7 years after the date of enactment of this Act; or</text>
</paragraph><paragraph id="ID1f2e14efc7554d8e9f466da1c1286a4f"><enum>(2)</enum><text>the date on which
the Secretary determines that not less than 5 percent of the commercial
refueling infrastructure in the United States offers alternative fuels to the
general public.</text>
</paragraph></subsection><subsection id="IDb59456195ca446a19be917a630638d4c"><enum>(d)</enum><header>Exceptions</header>
<paragraph id="ID48b29189da7c4845b00fc18b31e77416"><enum>(1)</enum><header>Waiver</header><text>Subsection
(b)(1) shall not apply to any Federal property under the jurisdiction of a
Federal agency if the Secretary determines that alternative fuel is not
reasonably available to retail purchasers of the fuel, as certified by the head
of the agency to the Secretary.</text>
</paragraph><paragraph id="ID1362981fd124441792b92fe1ed027dbb"><enum>(2)</enum><header>National
security exemption</header><text>Subsection (b)(2) shall not apply to property
of the Federal government that the Secretary, in consultation with the
Secretary of Defense, has certified must be exempt for national security
reasons.</text>
</paragraph><paragraph id="ID72d08c66e0df49e2aaa7d37a5cd58668"><enum>(3)</enum><header>Safety
exemption</header><text>Subsection (b)(2) shall not apply to property of the
Federal government that the Secretary determines poses a safety hazard to the
general public.</text>
</paragraph></subsection><subsection id="ID371a0b0f4afa490d9f94361ac1f893dc"><enum>(e)</enum><header>Verification of
compliance</header><text>The Secretary shall—</text>
<paragraph id="ID931a6126b0a843959a80fccd4312841b"><enum>(1)</enum><text>monitor
compliance with this section by all Federal agencies; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID720bbea8f3754a8784272d442aab8bcf"><enum>(2)</enum><text>annually submit
to Congress a report describing the extent of compliance with this
section.</text>
</paragraph></subsection></section></subtitle><subtitle id="id2F135B18DA8F498C9287CF6CE2FFD55F"><enum>G</enum><header>Measures to
empower drivers to realize improved fuel economy</header>
<section id="idB91AEC40FE2440DFB277DF5A1F8B5220"><enum>261.</enum><header>Improved
labeling on new vehicle window stickers</header>
<subsection id="IDdf0f3c68fecd42358ce10514a7f0f703"><enum>(a)</enum><header>In
general</header><text>The Administrator of the Environmental Protection Agency
(referred to in this section as the <term>Administrator</term>), in
consultation with the Secretary of Transportation, shall, as appropriate, use
existing emission test cycles and updated adjustment factors to update and
revise the process used to determine fuel economy values for labeling purposes
as described in sections 600.209-85 and 600.209-95 of title 40, Code of Federal
Regulations (or successor regulations) to take into consideration current
factors, such as—</text>
<paragraph id="id641C8CA8EE28449A9D05AB686397F730"><enum>(1)</enum><text>speed
limits;</text>
</paragraph><paragraph id="idE33F8FFEFCA841ABBBDDC44E332B6E0B"><enum>(2)</enum><text>acceleration
rates;</text>
</paragraph><paragraph id="idCA90D2C5E1BB4277AE5A703709820EF9"><enum>(3)</enum><text>braking;</text>
</paragraph><paragraph id="id658923233EA943AD97095E76929B4DA5"><enum>(4)</enum><text>variations in
weather and temperature;</text>
</paragraph><paragraph id="id967081D7909148DBBED017A38D234E7D"><enum>(5)</enum><text>vehicle
load;</text>
</paragraph><paragraph id="idD541531C8CE242F684C9F3A970B446EC"><enum>(6)</enum><text>use of air
conditioning;</text>
</paragraph><paragraph id="idF5DBEF9FF54D4FE0ABC695E043194B95"><enum>(7)</enum><text>driving patterns;
and</text>
</paragraph><paragraph id="id05B6A61FF6E5470495967F4E0EC04426"><enum>(8)</enum><text>the use of other
fuel-consuming features.</text>
</paragraph></subsection><subsection id="ID0c50beddfa8442f79e251114a225f5e3"><enum>(b)</enum><header>Deadline</header><text>In
carrying out subsection (a), the Administrator shall—</text>
<paragraph id="id3BC3FD78818541F9A489BB92E4B73ABE"><enum>(1)</enum><text>issue a notice of
proposed rulemaking not later than 90 days after the date of enactment of this
Act; and</text>
</paragraph><paragraph id="id4B6A04700C624E95970E3733DB2A000E"><enum>(2)</enum><text>promulgate a
final rule not later than 180 days after the date on which the notice under
paragraph (1) is issued.</text>
</paragraph></subsection><subsection id="ID4fa4750608244d32aacb02b2e81c2f50"><enum>(c)</enum><header>Complementary
consumer information</header><text>The Administrator, using the most recent
data available to the Administrator, shall augment fuel economy labels to
provide easily understandable information on the safety rating and air
pollution and climate change impacts of a new vehicle as compared to the safety
ratings and climate change impacts of other comparable vehicles.</text>
</subsection><subsection id="ID1b604ce4c7a94eb49180a3c10ac5cb6f"><enum>(d)</enum><header>Reevaluation
and report</header><text>Not later than 3 years after the date of promulgation
of the final rule under subsection (b)(2), and triennially thereafter, the
Administrator shall—</text>
<paragraph id="idED411F8FC41D483BA06D465EEB7A0232"><enum>(1)</enum><text>reevaluate the
fuel economy labeling procedures described in subsections (a) and (c) to
determine whether changes in the factors used to establish the labeling
procedures warrant a revision of that process; and</text>
</paragraph><paragraph id="id69C1D8624904486CBD8521B9F7673E24"><enum>(2)</enum><text>submit to the
Committee on Commerce, Science, and Transportation of the Senate and the
Committee on Energy and Commerce of the House of Representatives a report that
describes the results of the reevaluation process.</text>
</paragraph></subsection></section><section id="ID42ad866d47314d9ebfb3e8d7f9618b7e"><enum>262.</enum><header>Tire
efficiency labeling program</header>
<subsection id="ID0f3f1575ce984d829d6d01301fad2ba4"><enum>(a)</enum><header>Standards for
tires manufactured for interstate commerce</header><text>Section 30123(b) of
title 49, United States Code, is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id761057654BD044D688655011DBF301FC" style="OLC">
<subsection id="id0CA7F4F600E74D11A6F570D002DB9ABF"><enum>(b)</enum><header>Tire grading
and marketing</header>
<paragraph id="ID69b9677dcd6a43a5bbf3be3671617ddf"><enum>(1)</enum><header>Uniform quality
grading system</header>
<subparagraph id="id4CE304B0E0664CF19E4FF1BBB39D467E"><enum>(A)</enum><header>In
general</header><text>The Secretary shall prescribe, by regulation, a uniform
quality grading system for motor vehicle tires to assist consumers to make
informed decisions when purchasing tires.</text>
</subparagraph><subparagraph id="IDf480dd8ab487427b83e83f3422bfc8cd"><enum>(B)</enum><header>Inclusion</header><text>The
grading system established pursuant to subparagraph (A) shall include standards
for rating the fuel efficiency of tires designed for use on vehicles.</text>
</subparagraph></paragraph><paragraph id="IDf9ddb932f0b0401998a5f5689e72ad20"><enum>(2)</enum><header>Nomenclature
and marketing practices</header><text>The Secretary shall cooperate with
industry and the Federal Trade Commission to the greatest extent practicable to
eliminate deceptive and confusing tire nomenclature and marketing
practices.</text>
</paragraph><paragraph id="IDf677be6f712442ff995dd2d2cb7e109d"><enum>(3)</enum><header>Effect of
standards and regulations</header><text>A tire standard or regulation
prescribed pursuant to this chapter supercedes an order or administrative
interpretation of the
Commission.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDb27c6269ba244cda802b18c47f651f7f"><enum>(b)</enum><header>National tire
fuel efficiency program</header>
<paragraph id="idC208C0C1124D410FBA24B3F75C4575C8"><enum>(1)</enum><header>In
general</header><text>Chapter 329 of title 49, United States Code, is amended
by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="idC2184B0DFADA4CA298B593366203D27D" style="USC">
<section id="id2EC424B98F04425287323B11EE1BA9FC"><enum>32920.</enum><header>National
tire fuel economy program</header>
<subsection id="ID92fc7e89c3264c3d97895be78e960a1b"><enum>(a)</enum><header>Definition</header><text>In
this section, the term <term>fuel economy</term>, with respect to a tire, means
the extent to which the tire contributes to the reduction in fuel usage of the
motor vehicle on which the tire is mounted.</text>
</subsection><subsection id="IDcf1aaa32e2ac4b35b8e64605c57ba318"><enum>(b)</enum><header>Program</header><text>The
Secretary shall establish a national tire fuel economy program for vehicle
tires.</text>
</subsection><subsection id="ID29a685e9b15c45a8b5306d3c108f96b3"><enum>(c)</enum><header>Requirements</header><text>Not
later than March 31, 2008, the Secretary shall issue regulations, which
establish—</text>
<paragraph id="IDb06afadf991e40ef8783a7510e6ddec2"><enum>(1)</enum><text>policies and
procedures for testing and labeling tires for fuel economy to enable tire
buyers to make informed purchasing decisions about the fuel economy of
tires;</text>
</paragraph><paragraph id="ID64ef39ff7c2f422b8ec41d908112f565"><enum>(2)</enum><text>policies and
procedures to promote the purchase of energy efficient replacement tires,
including—</text>
<subparagraph id="id9350DB2A26194EE5AEA79D53AE979C71"><enum>(A)</enum><text>purchase
incentives;</text>
</subparagraph><subparagraph id="idB4B0A7B66E8343E096B7228BCF194D93"><enum>(B)</enum><text>website listings
on the Internet;</text>
</subparagraph><subparagraph id="id87E740886FCE434EA5F8A4E62A857876"><enum>(C)</enum><text>printed fuel
economy guide booklets; and</text>
</subparagraph><subparagraph id="idB9594412C63949BCB79607C67F0CC785"><enum>(D)</enum><text>mandatory
requirements for tire retailers to provide tire buyers with fuel efficiency
information on tires; and</text>
</subparagraph></paragraph><paragraph id="ID15bb76a441fb43f1b56536c4bd4e0118"><enum>(3)</enum><text>minimum fuel
economy standards for tires.</text>
</paragraph></subsection><subsection id="ID36348ae0a7694c8aa3991936fe2aef7a"><enum>(d)</enum><header>Minimum fuel
economy standards</header><text>In promulgating minimum fuel economy standards
for tires, the Secretary shall develop standards that—</text>
<paragraph id="IDb9b38b80d78e498aabbc467ed3db7cfe"><enum>(1)</enum><text>ensure, in
conjunction with the requirements under subsection (c)(2), that the average
fuel economy of replacement tires is not less than the average fuel economy of
tires sold as original equipment;</text>
</paragraph><paragraph id="ID1adfe984be984fa49f7baf6617e8bf4a"><enum>(2)</enum><text>secure the
maximum technically feasible and cost-effective fuel savings;</text>
</paragraph><paragraph id="ID625f01b5d3b644589fad683dbde9f5e1"><enum>(3)</enum><text>do not adversely
affect tire safety;</text>
</paragraph><paragraph id="IDb932e28b93c44bf68c62dd6773dc1007"><enum>(4)</enum><text>incorporate the
results from—</text>
<subparagraph id="ID76ad5c280a3e4ee79dc14b03453ed55f"><enum>(A)</enum><text>laboratory
testing; and</text>
</subparagraph><subparagraph id="ID7dc96974311f42e0b1ab5449defb14dd"><enum>(B)</enum><text>to the extent
appropriate and available, on-road fleet testing programs conducted by
manufacturers; and</text>
</subparagraph></paragraph><paragraph id="IDddeb66afa3ad4fe1ba89192301dbbc06"><enum>(5)</enum><text>do not adversely
affect efforts to manage scrap tires.</text>
</paragraph></subsection><subsection id="IDbb2bbefd846046dcbc4d87a9677fa52e"><enum>(e)</enum><header>Applicability</header><text>The
policies, procedures, and standards developed under subsection (c) shall apply
to all tire types and models regulated under the uniform tire quality grading
standards in section 575.104 of title 49, Code of Federal Regulations, as in
effect on the date of the enactment of this section.</text>
</subsection><subsection id="ID6882a18f62114c0095351e641c76df6f"><enum>(f)</enum><header>Review</header>
<paragraph id="IDe6a1f8e0e0054a77a68b4fbb2b844cdd"><enum>(1)</enum><header>In
general</header><text>Not less than once every 3 years, the Secretary
shall—</text>
<subparagraph id="ID416b765c896d405cb4794345d404cc04"><enum>(A)</enum><text>review the
minimum fuel economy standards in effect for tires under this subsection;
and</text>
</subparagraph><subparagraph id="IDce60e634f68441318d23ab399a98cb4e"><enum>(B)</enum><text>subject to
paragraph (2), revise the standards as necessary to ensure compliance with
standards described in subsection (d).</text>
</subparagraph></paragraph><paragraph id="ID94b303711b6040558aa705cecb0ad789"><enum>(2)</enum><header>Limitation</header><text>The
Secretary may not reduce the average fuel economy standards applicable to
replacement tires.</text>
</paragraph></subsection><subsection id="IDa1d99ee344e947dfbe40078adf6f02a3"><enum>(g)</enum><header>No preemption
of State law</header><text>Nothing in this section shall be construed to
preempt any provision of State law relating to higher fuel economy standards
applicable to replacement tires designed for use on vehicles.</text>
</subsection><subsection id="ID027842c6701046448d6fee45b7612bbb"><enum>(h)</enum><header>Exceptions</header><text>Nothing
in this section shall apply to—</text>
<paragraph id="IDce3ce470b76e4a89b30bc9e112b7bf5f"><enum>(1)</enum><text>a tire or group
of tires with the same stock keeping unit, plant, and year, for which the
volume of tires produced or imported is less than 15,000 annually;</text>
</paragraph><paragraph id="ID41e01475b427479b86f2ead96cb26d50"><enum>(2)</enum><text>a deep tread,
winter-type snow tire, space-saver tire, or temporary use spare tire;</text>
</paragraph><paragraph id="IDcfca537b69334d67a91699b7acfc2e29"><enum>(3)</enum><text>a tire with a
normal rim diameter of 12 inches or less;</text>
</paragraph><paragraph id="IDd58e03a9183b4b3f8e8ea94ee3a49f86"><enum>(4)</enum><text>a motorcycle
tire; or</text>
</paragraph><paragraph id="ID77c7d8a2b3d14335bce4a75866975e53"><enum>(5)</enum><text>a tire
manufactured specifically for use in an off-road motorized recreational
vehicle.</text>
</paragraph></subsection><subsection id="ID173da3a8203c470f8ddaa9f835b4b60e"><enum>(i)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated, for
each of fiscal years 2007 through 2011, such sums as may be necessary to carry
out this
section.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id1A81104F440647A8A805A19E0681F495"><enum>(2)</enum><header>Clerical
amendment</header><text>The table of sections for chapter 329 of title 49,
United States Code, is amended by adding after the item relating to section
32919 the following:</text>
<quoted-block id="idf21c0166-0693-4f28-9588-d444a0805391" style="USC">
<toc>
<toc-entry idref="id2EC424B98F04425287323B11EE1BA9FC" level="section">Sec. 32920. National tire fuel economy
program.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID8e95d404f705423c87a7a30da971ec1d"><enum>(c)</enum><header>Conforming
amendment</header><text>Section 30103(b)(1) of title 49, United States Code, is
amended by striking <quote>When</quote> and inserting <quote>Except as provided
in section 30920, if</quote>.</text>
</subsection><subsection id="ID83317490ac5d42acb2381dd09dcb753b"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect on
March 31, 2008.</text>
</subsection></section><section id="ID908837b251da423ea7b70de1a0aa0122"><enum>263.</enum><header>New vehicle
options to empower drivers to reduce fuel use</header><text display-inline="no-display-inline">Not later than 18 months after the date of
the enactment of this Act, the Secretary of Transportation, in consultation
with the Administrator of the Environmental Protection Agency, shall promulgate
regulations to require, beginning in 2010, that original equipment
manufacturers of all new on-highway motor vehicles sold in the United States
provide purchasers with the vehicle options that will—</text>
<paragraph id="IDb080a978d12345f6abec7b395224e7f0"><enum>(1)</enum><text>use on-board
electronic instruments to provide real-time fuel consumption data;</text>
</paragraph><paragraph id="IDed020285389f464e82563a4b33acf61e"><enum>(2)</enum><text>use on-board
electronic instruments to signal a driver when inadequate tire pressure is
affecting vehicle safety or fuel economy; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDb37619f9e60e49048600eb14656f43b6"><enum>(3)</enum><text>a device that
will allow drivers to voluntarily place their vehicle in a mode that will
automatically produce greater fuel economy.</text>
</paragraph></section><section id="IDB1939567910341D2B29A844C939A2467"><enum>264.</enum><header>Idling
reduction tax credit</header>
<subsection id="IDBDEC01B6A78C40199B14CAE308356F12"><enum>(a)</enum><header>In
General</header><text>Subpart D of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 (relating to business-related credits), as
amended by this Act, is amended by adding at the end the following new
section:</text>
<quoted-block id="ID2C0A6AB7D9FD46B99E8D3381FC26E2F4" style="OLC">
<section id="ID5861FF2616154076A0B0DC5E54AEA7FB"><enum>45O.</enum><header>Idling
reduction credit</header>
<subsection id="ID9312918B31C642E680EACD94B239F4C9"><enum>(a)</enum><header>General
Rule</header><text>For purposes of section 38, the idling reduction tax credit
determined under this section for the taxable year is an amount equal to 25
percent of the amount paid or incurred for each qualifying idling reduction
device placed in service by the taxpayer during the taxable year.</text>
</subsection><subsection id="ID40377EEB1B1148AB8864D74DF7D8EC5A"><enum>(b)</enum><header>Limitation</header><text>The
maximum amount allowed as a credit under subsection (a) shall not exceed $1,000
per device.</text>
</subsection><subsection id="ID13679F12297F466F9030F8CD9D035488"><enum>(c)</enum><header>Definitions</header><text>For
purposes of subsection (a)—</text>
<paragraph id="IDB243C97D5A6941FAA544BC6CA4F0A903"><enum>(1)</enum><header>Qualifying
idling reduction device</header><text>The term <term>qualifying idling
reduction device</term> means any device or system of devices that—</text>
<subparagraph id="IDB8C041668D6B4F4E85D919CD36AE6C55"><enum>(A)</enum><text>is installed on a
heavy-duty diesel-powered on-highway vehicle,</text>
</subparagraph><subparagraph id="ID58654E5D9C064D8C8F62C1AABC620A4A"><enum>(B)</enum><text>is designed to
provide to such vehicle those services (such as heat, air conditioning, or
electricity) that would otherwise require the operation of the main drive
engine while the vehicle is temporarily parked or remains stationary,</text>
</subparagraph><subparagraph id="ID43142CA4929847B8A82A8C570F4B80BC"><enum>(C)</enum><text>the original use
of which commences with the taxpayer,</text>
</subparagraph><subparagraph id="ID9749BE2DFB924C60899FE0E4D0C5E19E"><enum>(D)</enum><text>is acquired for
use by the taxpayer and not for resale, and</text>
</subparagraph><subparagraph id="ID84FC165CBE4245A08D1E2C13F526AC64"><enum>(E)</enum><text>is certified by
the Secretary of Energy, in consultation with the Administrator of the
Environmental Protection Agency and the Secretary of Transportation, to reduce
long-duration idling of such vehicle at a motor vehicle rest stop or other
location where such vehicles are temporarily parked or remain
stationary.</text>
</subparagraph></paragraph><paragraph id="ID278EBE582E0149F18F3123CC68C580AF"><enum>(2)</enum><header>Heavy-duty
diesel-powered on-highway vehicle</header><text>The term <term>heavy-duty
diesel-powered on-highway vehicle</term> means any vehicle, machine, tractor,
trailer, or semi-trailer propelled or drawn by mechanical power and used upon
the highways in the transportation of passengers or property, or any
combination thereof determined by the Federal Highway Administration.</text>
</paragraph><paragraph id="ID4EC4E8609EA2457885BE2644B565C1FE"><enum>(3)</enum><header>Long-duration
idling</header><text>The term <term>long-duration idling</term> means the
operation of a main drive engine, for a period greater than 15 consecutive
minutes, where the main drive engine is not engaged in gear. Such term does not
apply to routine stoppages associated with traffic movement or
congestion.</text>
</paragraph></subsection><subsection id="IDDEDF9B2FB996477CAF630EC7C4C815A1"><enum>(d)</enum><header>No Double
Benefit</header><text>For purposes of this section—</text>
<paragraph id="IDEEBEFC2D0B4D47CCB983BC686A3B4981"><enum>(1)</enum><header>Reduction in
basis</header><text>If a credit is determined under this section with respect
to any property by reason of expenditures described in subsection (a), the
basis of such property shall be reduced by the amount of the credit so
determined.</text>
</paragraph><paragraph id="ID2F01FEDC0D804322A79E1DD7EC872AD4"><enum>(2)</enum><header>Other
deductions and credits</header><text>No deduction or credit shall be allowed
under any other provision of this chapter with respect to the amount of the
credit determined under this section.</text>
</paragraph></subsection><subsection id="ID8DBE7F746A9C48A6913AB78B7AC43A8E"><enum>(e)</enum><header>Election Not to
Claim Credit</header><text>This section shall not apply to a taxpayer for any
taxable year if such taxpayer elects to have this section not apply for such
taxable year.</text>
</subsection><subsection id="idD85F7D3CC36B4F72AA540EE86DC19CF1"><enum>(f)</enum><header>Termination</header><text>This
section shall not apply with respect to any property placed in service after
December 31,
2014.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID1798F9FAEB0445368E29D2466AF4A527"><enum>(b)</enum><header>Credit to Be
Part of General Business Credit</header><text>Subsection (b) of section 38 of
the Internal Revenue Code of 1986 (relating to general business credit), as
amended by this Act, is amended by striking <quote>plus</quote> at the end of
paragraph (30), by striking the period at the end of paragraph (31) and
inserting <quote>, plus</quote> , and by adding at the end the following new
paragraph:</text>
<quoted-block id="IDD5DD0D0C5D3544C5BEA40CB55854F464" style="OLC">
<paragraph id="IDD86BAC96758A4E289136137C3E188327"><enum>(32)</enum><text>the idling
reduction tax credit determined under section
45O(a).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID9D3753E342234730BCD1C6010736E041"><enum>(c)</enum><header>Conforming
Amendments</header>
<paragraph id="IDDBFC7637C8C241B09210AA55405F47E3"><enum>(1)</enum><text>The table of
sections for subpart D of part IV of subchapter A of chapter 1 of the Internal
Revenue Code of 1986, as amended by this Act, is amended by inserting after the
item relating to section 45N the following new item:</text>
<quoted-block id="ID5A0CE34DE1514C1789E4FA716877DC78" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 45O. Idling reduction
credit</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="ID532B957584AD42E6809A36C3F7C27DCC"><enum>(2)</enum><text>Section 1016(a)
of such Code, as amended by this Act, is amended by striking <quote>and</quote>
at the end of paragraph (37), by striking the period at the end of paragraph
(38) and inserting <quote>, and</quote>, and by adding at the end the
following:</text>
<quoted-block id="ID1CA7576BF5074E9AAA3F62E06112C70D" style="OLC">
<paragraph id="ID32C59292FDC84F1BAF5A548190577C5D"><enum>(39)</enum><text>in the case of a
facility with respect to which a credit was allowed under section 45O, to the
extent provided in section 45O(d)(1).</text>
</paragraph><paragraph id="ID6B42678B5BE04271964BCD69B4671017"><enum>(40)</enum><text>Section 6501(m)
of such Code is amended by inserting <quote>45O(e),</quote> after
<quote>45D(c)(4),</quote>.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID5089A68C20F7421F8AFCA0BD89EC6D1D"><enum>(d)</enum><header>Effective
Date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2006.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDC65D199432D04082A85C44D7C523D4E6"><enum>(e)</enum><header>Determination
of Certification Standards by Secretary of Energy for Certifying Idling
Reduction Devices</header><text>Not later than 6 months after the date of the
enactment of this Act and in order to reduce air pollution and fuel
consumption, the Secretary of Energy, in consultation with the Administrator of
the Environmental Protection Agency and the Secretary of Transportation, shall
publish the standards under which the Secretary, in consultation with the
Administrator of the Environmental Protection Agency and the Secretary of
Transportation, will, for purposes of section 45O of the Internal Revenue Code
of 1986 (as added by this section), certify the idling reduction devices which
will reduce long-duration idling of vehicles at motor vehicle rest stops or
other locations where such vehicles are temporarily parked or remain stationary
in order to reduce air pollution and fuel consumption.</text>
</subsection></section></subtitle><subtitle id="id578A4D82D9D549E2BD8514A215807BDC"><enum>H</enum><header>Providing
consumers with additional advanced technology vehicle purchase
incentives</header>
<section id="id28A77DBF8A6D45F8B8D08A94BE82BC20"><enum>271.</enum><header>Expansion and
extension of alternative motor vehicle credit</header>
<subsection id="idFA8A5908F81C4F5CA97F19F159695439"><enum>(a)</enum><header>Increases in
credit</header>
<paragraph id="idBB5E6A0EDCC041AD8AC690C4ED8BF936"><enum>(1)</enum><header>New qualified
fuel cell motor vehicle</header><text>Subsection (b) of section 30B of the
Internal Revenue Code of 1986 (relating to new qualified fuel cell motor
vehicle credit) is amended—</text>
<subparagraph id="id2103FCC32D55425986E257CB67A42F05"><enum>(A)</enum><text>in paragraph
(1)—</text>
<clause id="id70862285ECC343EEA3D3F79DD5CDFD51"><enum>(i)</enum><text>by
striking <quote>$8,000 ($4,000</quote> in subparagraph (A) and inserting
<quote>$16,000 ($8,000</quote>;</text>
</clause><clause id="idE6216AB49EE744F99B0838908441A9A6"><enum>(ii)</enum><text>by
striking <quote>$10,000</quote> in subparagraph (B) and inserting
<quote>$20,000</quote>;</text>
</clause><clause id="id8DFED3FEAD9A4048BC5757218BBC5B28"><enum>(iii)</enum><text>by striking
<quote>$20,000</quote> in subparagraph (C) and inserting
<quote>$40,000</quote>; and</text>
</clause><clause id="idE8800C561A2D4A0999064C7A7A2F9341"><enum>(iv)</enum><text>by
striking <quote>$40,000</quote> in subparagraph (D) and inserting
<quote>$80,000</quote>; and</text>
</clause></subparagraph><subparagraph id="idA4F0FD0F33844064BF63FD3ECAD15415"><enum>(B)</enum><text>in paragraph
(2)(A)—</text>
<clause id="id3C070BCB82C5412E81372A8424B5639D"><enum>(i)</enum><text>by
striking <quote>$1,000</quote> in clause (i) and inserting
<quote>$2,000</quote>;</text>
</clause><clause id="id17AADF69830044DAAAC4C9BE1E5C2385"><enum>(ii)</enum><text>by
striking <quote>$1,500</quote> in clause (ii) and inserting
<quote>$3,000</quote>;</text>
</clause><clause id="id32A18EE7E3694B03B4DF952A2B9E6D0F"><enum>(iii)</enum><text>by striking
<quote>$2,000</quote> in clause (iii) and inserting
<quote>$4,000</quote>;</text>
</clause><clause id="id9E4F43A490A5480CA33EA0BABD3AD8D0"><enum>(iv)</enum><text>by
striking <quote>$2,500</quote> in clause (iv) and inserting
<quote>$5,000</quote>;</text>
</clause><clause id="id06637A6CCDF6408EAE86165F9FAD5357"><enum>(v)</enum><text>by
striking <quote>$3,000</quote> in clause (v) and inserting
<quote>$6,000</quote>;</text>
</clause><clause id="id01CBE59E81D94EE39B9B3179A21EB7D8"><enum>(vi)</enum><text>by
striking <quote>$3,500</quote> in clause (vi) and inserting
<quote>$7,000</quote>; and</text>
</clause><clause id="idB3E875B0B44841E18AF18A535D488762"><enum>(vii)</enum><text>by striking
<quote>$4,000</quote> in clause (vii) and inserting
<quote>$8,000</quote>.</text>
</clause></subparagraph></paragraph><paragraph id="idB271E7EC70F745ACB49B732B6F943DC5"><enum>(2)</enum><header>New advanced
lean burn technology motor vehicle</header>
<subparagraph id="id79C9E0FE21F94B599FA988F317681526"><enum>(A)</enum><header>Fuel
economy</header><text>The table in clause (i) of section 30B(c)(2)(A) of such
Code (relating to fuel economy) is amended—</text>
<clause id="idE3B9B68365CB4DBC8787D09478CC769C"><enum>(i)</enum><text>by
striking <quote>$400</quote> and inserting <quote>$800</quote>;</text>
</clause><clause id="id782BD06121EB461EA4FD6E4EF12F2C85"><enum>(ii)</enum><text>by
striking <quote>$800</quote> and inserting <quote>$1,600</quote>;</text>
</clause><clause id="idD55D9A6C25FC47F18326A680D00DF92F"><enum>(iii)</enum><text>by striking
<quote>$1,200</quote> and inserting <quote>$2,400</quote>;</text>
</clause><clause id="idDE47DE5C4AF64D37931FE56C02983E7C"><enum>(iv)</enum><text>by
striking <quote>$1,600</quote> and inserting <quote>$3,200</quote>;</text>
</clause><clause id="id58652412A2754F3FB92B69A17ED39957"><enum>(v)</enum><text>by
striking <quote>$2,000</quote> and inserting <quote>$4,000</quote>; and</text>
</clause><clause id="idC7E3846C4F0B401BA5476048CB9AF267"><enum>(vi)</enum><text>by
striking <quote>$2,400</quote> and inserting <quote>$4,800</quote>.</text>
</clause></subparagraph><subparagraph id="idF00879A584F34F968BFC762A3AED33C8"><enum>(B)</enum><header>Conservation</header><text>The
table in subparagraph (B) of section 30B(c)(2) of such Code (relating to
conservation credit) is amended—</text>
<clause id="idC49F5729FBF74C8491BD3ABA0BA1FD35"><enum>(i)</enum><text>by
striking <quote>$250</quote> and inserting <quote>$500</quote>;</text>
</clause><clause id="idBDDCACAD950D431EB95BDC111ECDF3DB"><enum>(ii)</enum><text>by
striking <quote>$500</quote> and inserting <quote>$1,000</quote>;</text>
</clause><clause id="idA6278A000B5148FFAFB63C0E6F9BCFF5"><enum>(iii)</enum><text>by striking
<quote>$750</quote> and inserting <quote>$1,500</quote>; and</text>
</clause><clause id="id99BEF4C954634D4FAA689B6CEC09886B"><enum>(iv)</enum><text>by
striking <quote>$1,000</quote> and inserting <quote>$2,000</quote>.</text>
</clause></subparagraph></paragraph></subsection><subsection id="id2CB5D733B8C14344953A02924C2B4BF0"><enum>(b)</enum><header>Expansion of
number of new qualified hybrid and advanced lean burn technology vehicles
eligible for credit</header><text>Paragraph (2) of section 30B(f) of the
Internal Revenue Code of 1986 (relating to phaseout) is amended—</text>
<paragraph id="id47F30A47FAE5493EBC1448CEA2EF42A8"><enum>(1)</enum><text>by striking
<quote>the period</quote> and inserting <quote>any period</quote>,</text>
</paragraph><paragraph id="id451BFB6D86FF4937A8039D45985A937B"><enum>(2)</enum><text>by striking
<quote>United States after December 31, 2005, is at least 60,000</quote> and
inserting</text>
<quoted-block display-inline="yes-display-inline" id="idEFECB343F6EB4EFA95FFD532245DEA29" style="OLC">
<text>United States
is—</text><subparagraph id="id6E9EDCBD9FBA4810902F4154E7F6EC8C"><enum>(A)</enum><text>after December
31, 2005, at least 60,000, and</text>
</subparagraph><subparagraph id="id5A2B69D8039649DDB54DC25D582D957A"><enum>(B)</enum><text>after December
31, 2008, and before January 1, 2013,
60,000.</text>
</subparagraph><after-quoted-block>,
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="idD54E356C1BBB4043A9F2186DC34D4DBD"><enum>(3)</enum><text>by adding at the
end the following new sentence: <quote>For purposes of the preceding sentence,
the Secretary may extend the time period through 2014 if the Secretary
determines that market conditions merit such action.</quote>.</text>
</paragraph></subsection><subsection id="id2630B8B71416497CBFB5D99FCEC42843"><enum>(c)</enum><header>Extension</header><text>Section
30B(j) of the Internal Revenue Code of 1986 (relating to termination) is
amended—</text>
<paragraph id="idC60A61173890478F84215CA13B7E83AD"><enum>(1)</enum><text>by striking
<quote>December 31, 2010</quote> both places it appears and inserting
<quote>December 31, 2014</quote>, and</text>
</paragraph><paragraph id="idF5A22BD72BC040FA81350DF8E24096F1"><enum>(2)</enum><text>by striking
<quote>December 31, 2009</quote> in paragraph (3) and inserting <quote>December
31, 2014</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id2E3B0C0F99614B7DBA2A9B240E7F76C6"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect as if
included in the amendments made by section 1341(a) of the Energy Policy Act of
2005.</text>
</subsection></section><section id="ID90c33256fc6a46db9fb65d884f9359f6"><enum>272.</enum><header>Plug-in hybrid
motor vehicle tax credit</header>
<subsection id="IDc41dc0ee4b244a3e815886fa712e6654"><enum>(a)</enum><header>In
general</header><text>Section 30B of the Internal Revenue Code of 1986 is
amended by redesignating subsections (i) and (j) as subsections (j) and (k),
respectively, and by inserting after subsection (h) the following new
subsection:</text>
<quoted-block display-inline="no-display-inline" id="id7F52520F8E884436884FEA09AF25AF8B" style="OLC">
<subsection id="IDd5cc4098dc7a4571915dd8678a721522"><enum>(i)</enum><header>New plug-in
hybrid motor vehicle credit</header>
<paragraph id="ID15659c7097704d2a8ea7a39426184193"><enum>(1)</enum><header>In
general</header><text>For purposes of subsection (a), the new plug-in hybrid
motor vehicle credit determined under this subsection with respect to a new
qualified plug-in hybrid motor vehicle or new qualified flexible-fuel plug-in
hybrid motor vehicle placed in service by the taxpayer during the taxable year
is—</text>
<subparagraph id="ID683e5c2d31794e2593d09765faadee29"><enum>(A)</enum><text>$3,000, if such
vehicle is a new qualified plug-in hybrid motor vehicle with a gross vehicle
weight rating of not more than 8,500 pounds, and</text>
</subparagraph><subparagraph id="id67E33FBBF14B49E7B96F6A05473120CC"><enum>(B)</enum><text>$3,150, if such
vehicle is a new qualified flexible-fuel plug-in hybrid motor vehicle with a
gross vehicle weight rating of not more than 8,500 pounds.</text>
</subparagraph></paragraph><paragraph id="ID6cb5e12d99904b16afed8bfcda60f348"><enum>(2)</enum><header>Increase for
fuel efficiency</header>
<subparagraph id="ID37e2777b7b0f48809b797ea92682ff78"><enum>(A)</enum><header>In
general</header><text>The amount determined under paragraph (1)(A) with respect
to a new qualified plug-in hybrid motor vehicle or new qualified flexible-fuel
plug-in hybrid motor vehicle which is a passenger automobile or light truck
shall be increased by—</text>
<clause id="ID44addc4af2ed484a8a68c944d81d3aae"><enum>(i)</enum><text>$1,000 if such
vehicle achieves at least 250 percent but less than 250 percent of the 2002
model year city fuel economy,</text>
</clause><clause id="ID3b5cb460736747cda4e278891e137b73"><enum>(ii)</enum><text>$1,500 if such
vehicle achieves at least 250 percent but less than 275 percent of the 2002
model year city fuel economy,</text>
</clause><clause id="IDefd0631a155d410195cca71b3f5137a2"><enum>(iii)</enum><text>$2,000 if such
vehicle achieves at least 275 percent but less than 300 percent of the 2002
model year city fuel economy,</text>
</clause><clause id="ID56074d1233914fa7ba62927cac624208"><enum>(iv)</enum><text>$2,500 if such
vehicle achieves at least 300 percent but less than 325 percent of the 2002
model year city fuel economy, and</text>
</clause><clause id="ID406302fe1e48467f892733e5ac86b343"><enum>(v)</enum><text>$3,000 if such
vehicle achieves at least 325 percent of the 2002 model year city fuel
economy,</text>
</clause></subparagraph><subparagraph id="ID8d14881879a74f6abc3d6e8f327bb7f8"><enum>(B)</enum><header>2002 model year
city fuel economy</header><text>For purposes of subparagraph (A), the 2002
model year city fuel economy with respect to a vehicle shall be determined
using the tables provided in subsection (b)(2)(B).</text>
</subparagraph></paragraph><paragraph id="ID74ded314c1ab41de82c32376dc623b0a"><enum>(3)</enum><header>New qualified
plug-in hybrid motor vehicle</header><text>For purposes of this subsection, the
term <term>new qualified plug-in hybrid motor vehicle</term> means a motor
vehicle—</text>
<subparagraph id="idE1112A61DF7C4629BD230CF70B79943E"><enum>(A)</enum><text>which is
propelled by an internal combustion engine or heat engine using —</text>
<clause id="IDddd49b4e38a54f499f95ee81bbfde8ab"><enum>(i)</enum><text>any combustible
fuel,</text>
</clause><clause id="ID6473c0661be8466fb3ea645938e6fe80"><enum>(ii)</enum><text>an on-board,
rechargeable storage device, and</text>
</clause><clause id="ID65b92aee9b60436fadd0396467c03464"><enum>(iii)</enum><text>a means of
using an off-board source of electricity,</text>
</clause></subparagraph><subparagraph id="ID66900f955ae24ac4bb806f24a20ce209"><enum>(B)</enum><text>which, in the
case of a passenger automobile or light truck, has received on or after the
date of the enactment of this section a certificate that such vehicle meets or
exceeds the Bin 5 Tier II emission level established in regulations prescribed
by the Administrator of the Environmental Protection Agency under section
202(i) of the Clean Air Act for that make and model year vehicle,</text>
</subparagraph><subparagraph id="IDaa166bf1975448bdb1b6c867ed6edd9b"><enum>(C)</enum><text>the original use
of which commences with the taxpayer,</text>
</subparagraph><subparagraph id="id3B264E13409541DCAC6A70F95FA4CEF5"><enum>(D)</enum><text>which is acquired
for use or lease by the taxpayer and not for resale, and</text>
</subparagraph><subparagraph id="IDd175c60e09bb4a799cf5c3591bb9143d"><enum>(E)</enum><text>which is made by
a manufacturer.</text>
</subparagraph></paragraph><paragraph id="ID78b2a70efd124d679fb587200a053ed4"><enum>(4)</enum><header>New qualified
flexible-fuel plug-in hybrid motor vehicle</header><text>For purposes of this
subsection, the term <term>new qualified flexible-fuel plug-in hybrid motor
vehicle</term> means a motor vehicle—</text>
<subparagraph id="idD7342E4C2BA94A729733B436E2D1FEF7"><enum>(A)</enum><text>which is
propelled by an internal combustion engine or heat engine using—</text>
<clause id="ID6669c9f33609447cad9b294042002fec"><enum>(i)</enum><text>an on-board,
rechargeable storage device, and</text>
</clause><clause id="IDefa7378ce9a04eb2ac2088bee9499ef2"><enum>(ii)</enum><text>a means of using
an off-board source of electricity,</text>
</clause></subparagraph><subparagraph id="id34F3BDFFD7DF47C9B670EFB6BB590905"><enum>(B)</enum><text>which is
warrantied by its manufacturer to operate on any combination of gasoline and a
fuel blend containing up to 85 percent ethanol and 15 percent gasoline by
volume (E85),</text>
</subparagraph><subparagraph id="IDcaa3272de65e467ab8ef38a89b96602a"><enum>(C)</enum><text>which, in the
case of a passenger automobile or light truck, has received on or after the
date of the enactment of this section a certificate that such vehicle meets or
exceeds the Bin 5 Tier II emission level established in regulations prescribed
by the Administrator of the Environmental Protection Agency under section
202(i) of the Clean Air Act for that make and model year vehicle,</text>
</subparagraph><subparagraph id="IDac9a35ff187246838fd034e396ae1899"><enum>(D)</enum><text>the original use
of which commences with the taxpayer,</text>
</subparagraph><subparagraph id="ID88abfc8dd693467f8629316afae3e2c4"><enum>(E)</enum><text>which is acquired
for use or lease by the taxpayer and not for resale, and</text>
</subparagraph><subparagraph id="IDe0c6f63513f54cd18c85898429063203"><enum>(F)</enum><text>which is made by
a
manufacturer.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id610257009EE64B49BF10C61A491416B5"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="idFB3F0544A9F44F09B6B9313005854F0E"><enum>(1)</enum><text>Section 30B(a) of
the Internal Revenue Code of 1986 is amended by striking <quote>and</quote> at
the end of paragraph (3), by striking the period at the end of paragraph (4)
and inserting <quote>, and</quote>, and by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id6E106E01B44244848AB542BE16F73F60" style="OLC">
<paragraph id="id70D9E9743F884776A85A41880698B785"><enum>(5)</enum><text>the new plug-in
hybrid motor vehicle credit determined under subsection
(i).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id37C42C5FC61B4CF3AEBD91B0811E1B5E"><enum>(2)</enum><text>Section 30B(k)(2)
of such Code, as redesignated by subsection (a), is amended by striking
<quote>or</quote> and inserting a comma and by inserting <quote>, a new
qualified plug-in hybrid motor vehicle (as described in subsection (i)(3)), or
a new qualified flexible-fuel plug-in hybrid motor vehicle (as described in
subsection (i)(4))</quote> after <quote>subsection (d)(2)(A))</quote>.</text>
</paragraph></subsection><subsection id="id3776C7B89E914152918DFCE15DC2E720"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act, in taxable years
ending after such date.</text>
</subsection></section></subtitle><subtitle id="id0C3301A12E964B9DA6EE85B652D7DD27"><enum>I</enum><header>Tax Incentives
for Fuel Efficient Private Fleets</header>
<section id="id38B52848B62549FAAAAD60494AA0B241"><enum>281.</enum><header>Tax credit for
fuel-efficient fleets</header>
<subsection id="idF30A751B6CC14B8BA3162687E252848F"><enum>(a)</enum><header>In
general</header><text>Subpart E of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 is amended by inserting after section 48B the
following new section:</text>
<quoted-block display-inline="no-display-inline" id="idEB3D46F40B554C9AB7117B8EEDC94989" style="OLC">
<section id="idF357567DC2E1403BB4F6D3EA0E15C9B1"><enum>48C.</enum><header>Fuel-efficient
fleet credit</header>
<subsection id="idE54A4F7FD3F54612BDCBBB2F1A49325C"><enum>(a)</enum><header>General
rule</header><text>For purposes of section 46, the fuel-efficient fleet credit
for any taxable year is 15 percent of the qualified fuel-efficient vehicle
investment amount of an eligible taxpayer for such taxable year.</text>
</subsection><subsection id="id0C75620B94F14EAEBF6A38A922940C5D"><enum>(b)</enum><header>Vehicle
purchase requirement</header><text>In the case of any eligible taxpayer which
places less than 10 qualified fuel-efficient vehicles in service during the
taxable year, the qualified fuel-efficient vehicle investment amount shall be
zero.</text>
</subsection><subsection id="id8CEF7A6DE5AB4BA9A5D5669E80C6342C"><enum>(c)</enum><header>Qualified
fuel-efficient vehicle investment amount</header><text>For purposes of this
section—</text>
<paragraph id="id109C3344190A47439BFC1F9A84F1CB96"><enum>(1)</enum><header>In
general</header><text>The term <term>qualified fuel-efficient vehicle
investment amount</term> means the basis of any qualified fuel-efficient
vehicle placed in service by an eligible taxpayer during the taxable
year.</text>
</paragraph><paragraph id="idB5C204C7E45841429DE77234DDAED095"><enum>(2)</enum><header>Qualified
fuel-efficient vehicle</header>
<subparagraph id="id602D763F4810487DAB1B40BF5B414B08"><enum>(A)</enum><header>In
general</header><text>The term <term>qualified fuel-efficient vehicle</term>
means an vehicle which has a fuel economy which is at least 150 percent greater
than the average fuel economy standard for an vehicle of the same class and
model year.</text>
</subparagraph><subparagraph id="id89B47941796A4BD2A9076A4F9331D9E6"><enum>(B)</enum><header>Certain
vehicles excluded</header><text>Such term shall not include any vehicle for
which a credit is allowed to the eligible taxpayer under section 30 or
30B.</text>
</subparagraph></paragraph><paragraph id="idADD16679DBFD42FF9360B6C5B1B3026B"><enum>(3)</enum><header>Other
terms</header><text>The terms <quote>vehicle</quote>, <quote>average fuel
economy standard</quote>, <quote>fuel economy</quote>, and <quote>model
year</quote> have the meanings given to such terms under section 32901 of title
49, United States Code.</text>
</paragraph></subsection><subsection id="idEDAD1B40A6DC4BED8A7FAC96D5122F94"><enum>(d)</enum><header>Eligible
taxpayer</header><text>The term <term>eligible taxpayer</term> means, with
respect to any taxable year, a taxpayer who owns a fleet of 100 or more
vehicles which are used in the trade or business of the taxpayer on the first
day of such taxable year.</text>
</subsection><subsection id="id99327B466AFF477CA451E6BAD0658051"><enum>(e)</enum><header>Termination</header><text>This
section shall not apply to any vehicle placed in service after December 31,
2010.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="idAE564562B6EE40B596C0DA59997DEB9E"><enum>(b)</enum><header>Credit treated
as part of investment credit</header><text>Section 46 of the Internal Revenue
Code of 1986 is amended by striking <quote>and</quote> at the end of paragraph
(3), by striking the period at the end of paragraph (4) and inserting <quote>,
and,</quote> and by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="idE5FD9824B4DE4E29A9AAE80FE8FDD014" style="OLC">
<paragraph commented="no" id="id68E6295287D44E97A802577BFC1EBBE9"><enum>(5)</enum><text>the
fuel-efficient fleet
credit.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id565E75AF27E44AC19BD6A1B6AADC1D31"><enum>(c)</enum><header>Conforming
amendments</header>
<paragraph id="id7DDF69072B8D4E649A99B367BBEDA375"><enum>(1)</enum><text>Section
49(a)(1)(C) of the Internal Revenue Code of 1986 is amended by striking
<quote>and</quote> at the end of clause (iii), by striking the period at the
end of clause (iv) and inserting <quote>, and,</quote> and by adding at the end
the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="idAFB0076CF8854FB0A4B849BDAFA7EA94" style="OLC">
<clause id="id447BED7BDFDF48C39FD4B8E553B31519"><enum>(v)</enum><text>the basis of any
qualified fuel-efficient vehicle which is taken into account under section
48C.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="idB83272C7F42942868440617D43394C75"><enum>(2)</enum><text>The table of
sections for subpart E of part IV of subchapter A of chapter 1 of such Code is
amended by inserting after the item relating to section 48 the following new
item:</text>
<quoted-block display-inline="no-display-inline" id="id8B1E6014A65A49B1B747B91003F09954" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 48C. Fuel-efficient fleet
credit.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id9DA7B854DB99401799D886CEA1F0B29F"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to periods
after December 31, 2005, in taxable years ending after such date, under rules
similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as
in effect on the day before the date of the enactment of the Revenue
Reconciliation Act of 1990).</text>
</subsection></section></subtitle><enum>III</enum><header>
Accelerating clean fuels and electricity</header>
<subtitle id="id31BC52C88FFF488CA4C7A5F875F400B0"><enum>A</enum><header>Guaranteeing a
minimum level of renewable electricity generation</header>
<section id="ID8be32385cfab4588ab89d5605b9324d3"><enum>301.</enum><header>Renewable
portfolio standard</header><text display-inline="no-display-inline">The Public
Utility Regulatory Policies Act of 1978 (16 U.S.C. 2601 et seq.) is amended by
adding at the end of title VI the following:</text>
<quoted-block display-inline="no-display-inline" id="id261E880CCD4A406285B534FBFF05CAAC" style="OLC">
<section id="IDb9c3df212a764d14aff58d3a58758b9d"><enum>610.</enum><header>Federal
renewable portfolio standard</header>
<subsection id="IDbc664c887c324e7aac9dabee0cf311d7"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="ID2033e2efc05c4277a14e912460e0db7a"><enum>(1)</enum><header>Base amount of
electricity</header><text>The term <term>base amount of electricity</term>
means the total amount of electricity sold by an electric utility to electric
consumers in a calendar year, excluding—</text>
<subparagraph id="IDb12e3e65317c4f7a91c63657095533b9"><enum>(A)</enum><text>electricity
generated by a hydroelectric facility (including a pumped storage facility but
excluding incremental hydropower); and</text>
</subparagraph><subparagraph id="IDab0996f1e42f43e6a33df5cca6227643"><enum>(B)</enum><text>electricity
generated through the incineration of municipal solid waste.</text>
</subparagraph></paragraph><paragraph id="ID3cbdbf60a8a44f02be17dcbce1fa3d43"><enum>(2)</enum><header>Distributed
generation facility</header><text>The term <term>distributed generation
facility</term> means a facility at a customer site.</text>
</paragraph><paragraph id="IDbce69c88f8e248afa6c6cefbdd5c80ca"><enum>(3)</enum><header>Existing
renewable energy</header><text>The term <term>existing renewable energy</term>
means, except as provided in paragraph (7)(B), electric energy generated at a
facility (including a distributed generation facility) placed in service prior
to the date of enactment of this section from—</text>
<subparagraph changed="not-changed" id="idBA2CB13AD27349B1AD22E65B3730FDF8"><enum>(A)</enum><text>solar, wind, or
geothermal energy;</text>
</subparagraph><subparagraph changed="not-changed" id="idAA9BFC35989D423983099A38B0CFE5E4"><enum>(B)</enum><text>ocean
energy;</text>
</subparagraph><subparagraph changed="not-changed" id="id24A719A590E64D5389EECE868DE16D73"><enum>(C)</enum><text>biomass (as
defined in section 203(b) of the Energy Policy Act of 2005 (42 U.S.C.
15852(b))); or</text>
</subparagraph><subparagraph changed="not-changed" id="idC7CC30871EB64F79B87BA919357EC31D"><enum>(D)</enum><text>landfill
gas.</text>
</subparagraph></paragraph><paragraph id="IDee832055ec59491cbddc13e94533af14"><enum>(4)</enum><header>Geothermal
energy</header><text>The term <term>geothermal energy</term> means energy
derived from a geothermal deposit (within the meaning of section 613(e)(2) of
the Internal Revenue Code of 1986).</text>
</paragraph><paragraph id="ID83cfa4bf08674ab1bfe83ad1eb54d0a3"><enum>(5)</enum><header>Incremental
geothermal production</header>
<subparagraph changed="not-changed" id="IDD8AF77E54EF64EA297C325A3132188D0"><enum>(A)</enum><header>In
general</header><text>The term <term>incremental geothermal production</term>
means, for any year, the difference between—</text>
<clause changed="not-changed" id="IDE542C3BB8ACF412D98D5B810AD65FF19"><enum>(i)</enum><text>the total
kilowatt hours of electricity produced from a facility (including a distributed
generation facility) using geothermal energy, and</text>
</clause><clause changed="not-changed" id="IDC9726293137E4EF9B2F2A3415BC4BFA1"><enum>(ii)</enum><text>the average
annual kilowatt hours produced at the facility for 5 of the 7 calendar years
preceding the date of enactment of this section after eliminating the highest
and the lowest kilowatt hour production years in that 7-year period.</text>
</clause></subparagraph><subparagraph changed="not-changed" id="IDC4495C1C40484332A16796CC72D024FD"><enum>(B)</enum><header>Special
rule</header><text>A facility described in subparagraph (A) that was placed in
service at least 7 years before the date of enactment of this section shall,
beginning with the year in which that date of enactment occurs, reduce the
amount calculated under subparagraph (A)(ii) each year, on a cumulative basis,
by the average percentage decrease in the annual kilowatt hour production for
the 7-year period described in subparagraph (A)(ii), the cumulative sum of
which shall not exceed 30 percent.</text>
</subparagraph></paragraph><paragraph changed="not-changed" id="ID56BB50FF5B424C3D91B96F4B1200E8DF"><enum>(6)</enum><header>Incremental
hydropower</header>
<subparagraph changed="not-changed" id="id539FFA3AE2FF42E2BC70E15545B89340"><enum>(A)</enum><header>In
general</header><text>The term <term>incremental hydropower</term> means
additional energy generated as a result of efficiency improvements or capacity
additions made on or after the date of enactment of this section or the
effective date of an existing applicable State renewable portfolio standard
program at a hydroelectric facility that was placed in service before that
date.</text>
</subparagraph><subparagraph changed="not-changed" id="id038337F3F0EF431FA55829A6EACCB28C"><enum>(B)</enum><header>Exclusions</header><text>The
term <term>incremental hydropower</term> does not include additional energy
generated as a result of operational changes not directly associated with
efficiency improvements or capacity additions.</text>
</subparagraph><subparagraph changed="not-changed" id="id21B29182D24048BB9EECB3A73662A3F0"><enum>(C)</enum><header>Measurement of
improvements and additions</header><text>Efficiency improvements and capacity
additions referred to in subparagraph (A) shall be measured on the basis of the
same water flow information used to determine a historic average annual
generation baseline for the hydroelectric facility and certified by the
Secretary or the Federal Energy Regulatory Commission.</text>
</subparagraph></paragraph><paragraph changed="not-changed" id="ID84F905B4FEF14933ABDA3F377449E198"><enum>(7)</enum><header>New renewable
energy</header><text>The term <term>new renewable energy</term> means—</text>
<subparagraph changed="not-changed" id="IDC6A42E9C1EC7470983696F609F6E0D1A"><enum>(A)</enum><text>electric energy
generated at a facility (including a distributed generation facility) placed in
service on or after January 1, 2003, from—</text>
<clause changed="not-changed" id="ID13F0A586899748B6B6B69C5F2BD82335"><enum>(i)</enum><text>solar, wind, or
geothermal energy or ocean energy;</text>
</clause><clause changed="not-changed" id="IDAF46CD8F3B6C458F8D2B26C2F82F36D4"><enum>(ii)</enum><text>biomass (as
defined in section 203(b) of the Energy Policy Act of 2005 (42 U.S.C.
15852(b)));</text>
</clause><clause changed="not-changed" id="ID4852150A356F483EB92EB63C7F0E4104"><enum>(iii)</enum><text>landfill gas;
or</text>
</clause><clause changed="not-changed" id="ID4443B4CB226244CD98B89F341B812E55"><enum>(iv)</enum><text>incremental
hydropower; and</text>
</clause></subparagraph><subparagraph changed="not-changed" id="IDC095551755A14C08905548BF2B8FF68A"><enum>(B)</enum><text>for electric
energy generated at a facility (including a distributed generation facility)
placed in service before the date of enactment of this section—</text>
<clause changed="not-changed" id="ID88367836F947457BB7760DA6477464B0"><enum>(i)</enum><text>the additional
energy above the average generation in the 3 years preceding the date of
enactment of this section at the facility from—</text>
<subclause changed="not-changed" id="ID10535C4833914C6A8659FE691E21771C"><enum>(I)</enum><text>solar or wind
energy or ocean energy;</text>
</subclause><subclause changed="not-changed" id="ID6BFA115D3E73476AB5B3F433C178A849"><enum>(II)</enum><text>biomass (as
defined in section 203(b) of the Energy Policy Act of 2005 (42 U.S.C.
15852(b)));</text>
</subclause><subclause changed="not-changed" id="IDD4C3339BE9E44480B9AC0B1D4F023162"><enum>(III)</enum><text>landfill gas;
or</text>
</subclause><subclause changed="not-changed" id="ID4262DD95CBB240ECAFC79AF4B919350E"><enum>(IV)</enum><text>incremental
hydropower; and</text>
</subclause></clause><clause changed="not-changed" id="ID1C435A1F8ACF4511A0B95ECE74569AD6"><enum>(ii)</enum><text>the incremental
geothermal production.</text>
</clause></subparagraph></paragraph><paragraph id="ID91dac7bedb804d75a46ceae80536325b"><enum>(8)</enum><header>Ocean
energy</header><text>The term <term>ocean energy</term> includes current, wave,
tidal, and thermal energy.</text>
</paragraph></subsection><subsection id="ID36a44d829f47464ca241707e327285da"><enum>(b)</enum><header>Renewable
energy requirement</header>
<paragraph id="IDCA0E347F466D4F24ABDF2EB575F4CA65"><enum>(1)</enum><header>Requirement</header>
<subparagraph id="idD94A70FD026E403B9FDD09DB244849D3"><enum>(A)</enum><header>In
general</header><text>Each electric utility that sells electricity to electric
consumers shall obtain a percentage of the base amount of electricity the
electric utility sells to electric consumers in any calendar year from new
renewable energy or existing renewable energy.</text>
</subparagraph><subparagraph id="idD7E6185D78034A45A385D6FA1E4BA802"><enum>(B)</enum><header>Percentages</header><text>The
percentage obtained in a calendar year shall not be less than the amount
specified in the following table:</text>
<table align-to-level="section" blank-lines-before="1" frame="none" line-rules="no-gen" rule-weights="0.0.0.4.0.0" subformat="S6211" table-type="2-Entry:-2-text,-bold-hds">
<tgroup cols="2" grid-typeface="1.1" thead-tbody-ldg-size="1.10.12" ttitle-size="0"><colspec align="left" coldef="txt" colname="col1" colsep="0" colwidth="294" min-data-value="190" rowsep="0"></colspec><colspec align="left" coldef="txt-no-spread" colname="col2" colsep="0" colwidth="147" min-data-value="95" rowsep="0"></colspec>
<tbody>
<row><entry align="left" leader-modify="clr-ldr" rowsep="0" stub-definition="txt-clr" stub-hierarchy="1"><bold>Calendar
year</bold></entry><entry rowsep="0"><bold>Min. annual
percentage</bold></entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="2">2008 through
2011</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">2.5</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="2">2012 through
2015</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">5.0</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="2">2016 through
2019</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">7.5</entry>
</row>
<row><entry align="left" colname="col1" leader-modify="force-ldr" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="2">2020 through
2030</entry><entry align="left" colname="col2" leader-modify="clr-ldr" rowsep="0">10.0</entry>
</row>
</tbody>
</tgroup>
</table>
</subparagraph></paragraph><paragraph id="ID82dde7d052024577a379cbca7d3b7e67"><enum>(2)</enum><header>Means of
compliance</header><text>An electric utility shall meet the requirements of
paragraph (1) by—</text>
<subparagraph id="IDec8584ebd7e849aca7a4bcaca1750cbb"><enum>(A)</enum><text>generating
electric energy using new renewable energy or existing renewable energy;</text>
</subparagraph><subparagraph id="ID5ba0b0ca59f9482d9e8ba491b66a8178"><enum>(B)</enum><text>purchasing
electric energy generated by new renewable energy or existing renewable
energy;</text>
</subparagraph><subparagraph id="ID5b1e2f076a0a4d5b985615ad1167584a"><enum>(C)</enum><text>purchasing
renewable energy credits issued under subsection (c); or</text>
</subparagraph><subparagraph id="ID2e3a583693964ddda35c242814060fff"><enum>(D)</enum><text>a combination of
the foregoing.</text>
</subparagraph></paragraph></subsection><subsection changed="not-changed" id="ID7B7DB1494A994FDCBBEBDBE6A73AFEB8"><enum>(c)</enum><header>Renewable
Energy Credit Trading Program</header>
<paragraph changed="not-changed" id="ID584C7068D28C4786922037E63B10C9C9"><enum>(1)</enum><header>In
general</header><text>Not later than January 1, 2007, the Secretary shall
establish a renewable energy credit trading program to permit an electric
utility that does not generate or purchase enough electric energy from
renewable energy to meet its obligations under subsection (b)(1) to satisfy the
requirements by purchasing sufficient renewable energy credits.</text>
</paragraph><paragraph changed="not-changed" id="ID0542267E9748428EB049F6C6E312AB86"><enum>(2)</enum><header>Responsibilities
of secretary</header><text>As part of the program, the Secretary shall—</text>
<subparagraph changed="not-changed" id="ID4B962C25AEE34348A3A3C786DD139A7F"><enum>(A)</enum><text>issue renewable
energy credits to generators of electric energy from new renewable
energy;</text>
</subparagraph><subparagraph changed="not-changed" id="IDF6844E542665496391E74729E01EAFD1"><enum>(B)</enum><text>sell renewable
energy credits to electric utilities at the rate of 1.5 cents per kilowatt-hour
(as adjusted for inflation under subsection (h));</text>
</subparagraph><subparagraph changed="not-changed" id="IDAC8E5CC6233A4D0FA92EB48072F0015E"><enum>(C)</enum><text>ensure that a
kilowatt hour, including the associated renewable energy credit, shall be used
only once for purposes of compliance with this section; and</text>
</subparagraph><subparagraph changed="not-changed" id="ID0CD4013842B340F48E26E6A16B4BE253"><enum>(D)</enum><text>allow double
credits for generation from facilities on Indian land, and triple credits for
generation from small renewable distributed generators (meaning those no larger
than 1 megawatt).</text>
</subparagraph></paragraph><paragraph changed="not-changed" id="ID5ACF97CB1FA94DE89CEFF2F63A575251"><enum>(3)</enum><header>Use of
credits</header><text>A credit under paragraph (2)(A) may only be used for
compliance with this section for the 3-year period beginning on the date of
issuance of the credit.</text>
</paragraph></subsection><subsection changed="not-changed" id="IDCE8EE90332904F658865EACF81C0AAFC"><enum>(d)</enum><header>Enforcement</header>
<paragraph changed="not-changed" id="IDF3A0EB103E6B4D4DBD7576ED8F780A0F"><enum>(1)</enum><header>Civil
penalties</header><text>Any electric utility that fails to meet the renewable
energy requirements of subsection (b) shall be subject to a civil
penalty.</text>
</paragraph><paragraph changed="not-changed" id="ID7BF6BB885F9A4717940D320BE27AB0F2"><enum>(2)</enum><header>Amount of
penalty</header><text>The amount of the civil penalty shall be determined by
multiplying the number of kilowatt-hours of electric energy sold to electric
consumers in violation of subsection (b) by the greater of 1.5 cents (adjusted
for inflation under subsection (h)) or 200 percent of the average market value
of renewable energy credits during the year in which the violation
occurred.</text>
</paragraph><paragraph changed="not-changed" id="IDDC413F5759D447A8835648402EC3D1FD"><enum>(3)</enum><header>Mitigation or
waiver</header>
<subparagraph changed="not-changed" id="id2B9BBB2407D4440BA23B3F627216BD75"><enum>(A)</enum><header>In
general</header><text>The Secretary may mitigate or waive a civil penalty under
this subsection if the electric utility was unable to comply with subsection
(b) for reasons outside of the reasonable control of the utility.</text>
</subparagraph><subparagraph changed="not-changed" id="idFB2F240F5BEF4F5AB95DBDB0D871DD77"><enum>(B)</enum><header>Reduction of
amount</header><text>The Secretary shall reduce the amount of any penalty
determined under paragraph (2) by an amount paid by the electric utility to a
State for failure to comply with the requirement of a State renewable energy
program if the State requirement is greater than the applicable requirement of
subsection (b).</text>
</subparagraph></paragraph><paragraph changed="not-changed" id="ID677AE3A643A7449294D2A141BF72AFDB"><enum>(4)</enum><header>Procedure for
assessing penalty</header><text>The Secretary shall assess a civil penalty
under this subsection in accordance with the procedures prescribed by section
333(d) of the <act-name parsable-cite="EPCA">Energy Policy and Conservation
Act</act-name> of 1954 (42 U.S.C. 6303).</text>
</paragraph></subsection><subsection changed="not-changed" id="ID05FFB9179D9646A2B239F73FC8EB3860"><enum>(e)</enum><header>State Renewable
Energy Account Program</header>
<paragraph changed="not-changed" id="IDBA9C1A4500B2479AA3EBD13970569C21"><enum>(1)</enum><header>In
general</header><text>Not later than December 31, 2008, the Secretary shall
establish a State renewable energy account program.</text>
</paragraph><paragraph changed="not-changed" id="IDE6744929B4EB41998BC4F861EF7D42B5"><enum>(2)</enum><header>Deposit of
amounts</header><text>All funds collected by the Secretary from the sale of
renewable energy credits and the assessment of civil penalties under this
section shall be deposited into the renewable energy account established
pursuant to this subsection.</text>
</paragraph><paragraph changed="not-changed" id="id922B518C72D7484AB1C1C0B79F260FD7"><enum>(3)</enum><header>Maintenance of
account</header><text>The State renewable energy account shall be held by the
Secretary and shall not be transferred to the Treasury Department.</text>
</paragraph><paragraph changed="not-changed" id="IDD30175D318B54D30B0228E6ED14AEFBE"><enum>(4)</enum><header>Use of
amounts</header><text>Proceeds deposited in the State renewable energy account
shall be used by the Secretary, subject to appropriations, for a program to
provide grants to the State agency responsible for developing State energy
conservation plans under section 362 of the <act-name parsable-cite="EPCA">Energy Policy and Conservation Act</act-name> (42 U.S.C.
6322) for the purposes of promoting renewable energy production, including
programs that promote technologies that reduce the use of electricity at
customer sites such as solar water heating.</text>
</paragraph><paragraph changed="not-changed" id="ID7B4A331F0A9D4BE69ACA2DDB012BA63C"><enum>(5)</enum><header>Guidelines and
criteria</header><text>The Secretary may issue guidelines and criteria for
grants awarded under this subsection.</text>
</paragraph><paragraph changed="not-changed" id="idBEC53883DDD34AEDBBE87BD22E1F7129"><enum>(6)</enum><header>Maintenance of
records and evidence of compliance</header><text>State energy offices receiving
grants under this section shall maintain such records and evidence of
compliance as the Secretary may require.</text>
</paragraph><paragraph changed="not-changed" id="ID0EA1069FCEBA46AABA3B904806F2EF37"><enum>(7)</enum><header>Allocation of
funds</header><text>In allocating funds under this program, the Secretary shall
give preference—</text>
<subparagraph changed="not-changed" id="IDC8A1C514D30C42C4B50940B013CAAE71"><enum>(A)</enum><text>to States in
regions that have a disproportionately small share of economically sustainable
renewable energy generation capacity; and</text>
</subparagraph><subparagraph changed="not-changed" id="IDE2789EFC2B344498AB928A29BF41D342"><enum>(B)</enum><text>to State programs
to stimulate or enhance innovative renewable energy technologies.</text>
</subparagraph></paragraph></subsection><subsection changed="not-changed" id="ID83AA2AE4C5094A83B6A0D019AB275D08"><enum>(f)</enum><header>Rules</header><text>Not
later than 1 year after the date of enactment of this section, the Secretary
shall issue rules implementing this section.</text>
</subsection><subsection changed="not-changed" id="ID16EDE3E6088345A187317B96FEA5FCD5"><enum>(g)</enum><header>Exemptions</header><text>This
section shall not apply in any calendar year to an electric utility
that—</text>
<paragraph changed="not-changed" id="ID49BE4F00717B458B923E7F7A1D114DA8"><enum>(1)</enum><text>sold less than
4,000,000 megawatt-hours of electric energy to electric consumers during the
preceding calendar year; or</text>
</paragraph><paragraph changed="not-changed" id="IDDAEB3394957F4361B13CB40EC1382023"><enum>(2)</enum><text>is located in
Hawaii.</text>
</paragraph></subsection><subsection changed="not-changed" id="IDE6B0220769B247298FE5A37E72308E8C"><enum>(h)</enum><header>Inflation
Adjustment</header><text>Not later than December 31 of each year beginning in
2008, the Secretary shall adjust for inflation the price of a renewable energy
credit under subsection (c)(2)(B) and the amount of the civil penalty per
kilowatt-hour under subsection (d)(2).</text>
</subsection><subsection changed="not-changed" id="ID52897936FB2B47BB8925E096640860C3"><enum>(i)</enum><header>State
Programs</header>
<paragraph changed="not-changed" id="id734B44693A9540408D5726A63F81E92B"><enum>(1)</enum><header>In
general</header><text>Nothing in this section shall diminish any authority of a
State or political subdivision thereof to adopt or enforce any law or
regulation respecting renewable energy, but, except as provided in subsection
(d)(3), no such law or regulation shall relieve any person of any requirement
otherwise applicable under this section.</text>
</paragraph><paragraph changed="not-changed" id="id1AC5A0A538D5452193F069BB621AFDC8"><enum>(2)</enum><header>Federal-state
coordination</header><text>The Secretary, in consultation with States having
renewable energy programs, shall, to the maximum extent practicable, facilitate
coordination between the Federal program and State programs.</text>
</paragraph></subsection><subsection changed="not-changed" id="ID163C436EB49343D899E5D4FA8F8E465D"><enum>(j)</enum><header>Termination of
authority</header><text>This section and the authority provided by this section
terminate on December 31,
2030.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section></subtitle><subtitle id="id1112036510D24D72B756804DDA27CB25"><enum>B</enum><header>Facilitating home
energy generation through net metering and interconnection standards</header>
<section id="ID407D074D5C504DCA96D1763EC748ABDD" section-type="subsequent-section"><enum>311.</enum><header>Net
metering</header>
<subsection id="ID196BFA8355054D839E9C3831DAA54FD3"><enum>(a)</enum><header>Adoption of
Standard</header><text>Section 111(d) of the Public Utility Regulatory Policies
Act of 1978 (16 U.S.C. 2621(d)) is amended by striking paragraph (11) and
inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="id76FDDDF6931F4B2BBB731DB2F77A356A" style="OLC">
<paragraph id="ID2CF9E2C524B844B1B372F20B949036CC"><enum>(11)</enum><header>Net
metering</header>
<subparagraph id="IDA5EF9FC38221484882D433A635085A68"><enum>(A)</enum><header>In
general</header><text>On the request of any electric consumer served by an
electric utility, the electric utility shall make available to the electric
consumer net metering as provided in section 115(j).</text>
</subparagraph><subparagraph id="ID32E10C18FBFA436DA49C9203353F418F"><enum>(B)</enum><header>Consideration
by state regulatory authorities</header><text>Notwithstanding subsections (b)
and (c) of section 112, not later than 1 year after the date of enactment of
this paragraph, a State regulatory authority may consider and make a
determination concerning whether it is in the public interest to decline to
implement subparagraph (A) in the State.</text>
</subparagraph><subparagraph id="ID99BBFD6772DB4F50BFC2B50E9BA381F4"><enum>(C)</enum><header>Incentives</header><text>Nothing
in this paragraph precludes a State from establishing incentives to encourage
on-site generating facilities and net metering in addition to the requirement
under this subsection.</text>
</subparagraph><subparagraph id="IDF4898E1520BD49D58B66B41B9C6C82C0"><enum>(D)</enum><header>Reports</header><text>Not
later than 1 year after the date of enactment of this paragraph and annually
thereafter, the Secretary shall submit to Congress a report that—</text>
<clause id="ID62B6D3BF83464154AC7D90A43A2A4406"><enum>(i)</enum><text>describes the
status of implementation by the States of subparagraph (A);</text>
</clause><clause id="IDDA706AED485343EF91CF1AF20DB794F9"><enum>(ii)</enum><text>contains a list
of pre-approved systems and equipment eligible for uniform interconnection
treatment; and</text>
</clause><clause id="IDF2F73AD4F64140849A2574A3333AEEFE"><enum>(iii)</enum><text>describes the
public benefits that have been derived from net metering and interconnection
standards.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID8E690FDEF05743CFA240CF4ED6059773"><enum>(b)</enum><header>Special Rules
for Net Metering</header><text>Section 115 of the Public Utility Regulatory
Policies Act of 1978 (16 U.S.C. 2625) is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="id76B4C0275FBC4FBFAA1D1A59EC23E4BB" style="OLC">
<subsection id="IDE84E34C8992F47D08D1784DFDE765C56"><enum>(j)</enum><header>Net
Metering</header>
<paragraph id="IDE3A9EFF572A64D95A8ED2F0C584E3D6E"><enum>(1)</enum><header>Definitions</header><text>In
this subsection:</text>
<subparagraph id="ID760594C68BD644EC897A7B8CAE6263B2"><enum>(A)</enum><header>Eligible
on-site generating facility</header><text>The term <term>eligible on-site
generating facility</term> means—</text>
<clause id="ID88A40B2468F4493DADFF8876BF417D0E"><enum>(i)</enum><text>a
facility on the site of a residential electric consumer with a maximum
generating capacity of 25 kilowatts or less that is fueled by solar energy,
wind energy, or fuel cells; and</text>
</clause><clause id="ID661FCD689A4D45248E26DE766758D891"><enum>(ii)</enum><text>a facility on
the site of a commercial electric consumer with a maximum generating capacity
of 1000 kilowatts or less that is fueled solely by a renewable energy resource,
landfill gas, or a high-efficiency system.</text>
</clause></subparagraph><subparagraph id="ID899EEF65DA8B4F56A5FEC1DE92A37745"><enum>(B)</enum><header>High efficiency
system</header><text>The term <term>high efficiency system</term> means a
system that is comprised of—</text>
<clause id="ID1DA91219DE1A44ED97621269A7FCBCAF"><enum>(i)</enum><text>fuel cells;
or</text>
</clause><clause id="ID218387AC349A43DE8B63D63B2E93F48D"><enum>(ii)</enum><text>combined heat
and power.</text>
</clause></subparagraph><subparagraph id="ID6BAB1D7082394E2EBE19F29B462531D1"><enum>(C)</enum><header>Net metering
service</header><text>The term <term>net metering service</term> means service
to an electric consumer, as provided in section 111(d)(11), under which
electric energy generated by that electric consumer from an eligible on-site
generating facility and delivered to the local distribution facilities may be
used to offset electric energy provided by the electric utility to the electric
consumer during the applicable billing period.</text>
</subparagraph><subparagraph id="IDE420AE49A0B9438C87C43B5785D63291"><enum>(D)</enum><header>Renewable
energy resource</header><text>The term <term>renewable energy resource</term>
means solar, wind, biomass, micro-freeflow-hydro, or geothermal energy.</text>
</subparagraph></paragraph><paragraph id="ID05A0F21EF7EE46DDBC9CC3424E71A0BA"><enum>(2)</enum><header>Net metering
service</header><text>For the purposes of undertaking the consideration and
making the determination with respect to the standard concerning net metering
established by section 111(d)(11), the term <term>net metering service</term>
means a service provided in accordance with this subsection.</text>
</paragraph><paragraph id="ID4DB5D1BE59104758890E39C3B7E3BB71"><enum>(3)</enum><header>Charges by an
electric utility</header><text>An electric utility—</text>
<subparagraph id="ID7B83360EA7894FFEB75087442B72FCB9"><enum>(A)</enum><text>shall charge the
owner or operator of an on-site generating facility rates and charges that are
identical to those that would be charged other electric consumers of the
electric utility in the same rate class; and</text>
</subparagraph><subparagraph id="ID498262AFB9CC4AECA93C3CEA192F07D1"><enum>(B)</enum><text>shall not charge
the owner or operator of an on-site generating facility any additional standby,
capacity, interconnection, or other rate or charge.</text>
</subparagraph></paragraph><paragraph id="IDFCAD007E10024716959AED282111B520"><enum>(4)</enum><header>Measurement of
quantities</header><text>An electric utility that sells electric energy to the
owner or operator of an on-site generating facility shall measure the quantity
of electric energy produced by the on-site facility and the quantity of
electric energy consumed by the owner or operator of an on-site generating
facility during a billing period with a single bi-directional meter or
otherwise in accordance with reasonable metering practices.</text>
</paragraph><paragraph id="IDF27E537C50BD4D9DA0AB47B876A6CFA9"><enum>(5)</enum><header>Quantity sold
in excess of quantity supplied</header><text>If the quantity of electric energy
sold by the electric utility to an on-site generating facility exceeds the
quantity of electric energy supplied by the on-site generating facility to the
electric utility during the billing period, the electric utility may bill the
owner or operator for the net quantity of electric energy sold, in accordance
with reasonable metering practices.</text>
</paragraph><paragraph id="IDF38869A09E8F4DE1BDDEAB95192DB9E8"><enum>(6)</enum><header>Quantity
supplied in excess of quantity sold</header><text>If the quantity of electric
energy supplied by the on-site generating facility to the electric utility
exceeds the quantity of electric energy sold by the electric utility to the
on-site generating facility during the billing period—</text>
<subparagraph id="ID61BE318B1A84453793B66D655CDD7AEF"><enum>(A)</enum><text>the electric
utility may bill the owner or operator of the on-site generating facility for
the appropriate charges for the billing period in accordance with paragraph
(5); and</text>
</subparagraph><subparagraph id="IDFEA24FEB57CE4B81982CD73AFFED7B18"><enum>(B)</enum><text>the owner or
operator of the on-site generating facility shall be credited for the excess
kilowatt-hours generated during the billing period with—</text>
<clause id="ID67A58056377A47A491683279B653A618"><enum>(i)</enum><text>a
kilowatt-hour credit appearing on the bill for the following billing period;
or</text>
</clause><clause id="ID67D5234F33A249968443C57418A49AE4"><enum>(ii)</enum><text>a cash
refund.</text>
</clause></subparagraph></paragraph><paragraph id="IDF4653B1BF56D4688B57E50D48C9012F5"><enum>(7)</enum><header>Compliance with
standards</header><text>An eligible on-site generating facility and net
metering system used by an electric consumer shall meet all applicable safety,
performance, reliability, and interconnection standards established by the
National Electrical Code, the Institute of Electrical and Electronics
Engineers, and Underwriters Laboratories.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID6860B205BD6749F78AFE4F0663246FAD"><enum>(8)</enum><header>Requirements</header><text>The
Commission, after consideration of all applicable safety, performance,
reliability, and interconnection standards established by the National
Electrical Code, the Institute of Electrical and Electronics Engineers, and
Underwriters Laboratories, and consultation with State regulatory authorities
and unregulated electric utilities, and after notice and opportunity for
comment, shall promulgate additional control, testing, and interconnection
requirements for on-site generating facilities and net metering systems that
the Commission determines are necessary to protect public safety and system
reliability.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section></subtitle><subtitle id="id5333E8C086F443C28FEEA87B15B601F8"><enum>C</enum><header>Long term
extensions and expansions for clean energy incentives</header>
<section id="idDABEE0F335E94D61B9C420D77ED7D89F"><enum>321.</enum><header>Extension of
production tax credit for electricity produced from certain renewable
resources</header><text display-inline="no-display-inline">Section 45(d) of the
Internal Revenue Code of 1986 (relating to qualified facilities) is amended by
striking <quote>2008</quote> each place it appears and inserting
<quote>2015</quote>.</text>
</section><section id="id248F45580FA741E783BAB49E4C8CF9BA"><enum>322.</enum><header>Extension and
modification of investment tax credit with respect to solar energy property and
qualified fuel cell property</header>
<subsection id="id2A2C0A4C5F1E43DB8C02D2B67A496260"><enum>(a)</enum><header>Solar energy
property</header><text>Paragraphs (2)(A)(i)(II) and (3)(A)(ii) of section 48(a)
of the Internal Revenue Code of 1986 are each amended by striking
<quote>2008</quote> and inserting <quote>2015</quote>.</text>
</subsection><subsection id="id38117683CD774B0D86F8D407BBD8EE76"><enum>(b)</enum><header>Eligible fuel
cell property</header><text>Paragraph (1)(E) of section 48(c) of the Internal
Revenue Code of 1986 is amended by striking <quote>2007</quote> and inserting
<quote>2014</quote>.</text>
</subsection><subsection id="idF885B4631A834276978DE87D57145A8A"><enum>(c)</enum><header>Credits allowed
against the alternative minimum tax</header>
<paragraph id="idD46A8FC4009449A7AFA90F47ABE2B415"><enum>(1)</enum><header>In
general</header><text>Section 38(c)(4)(B) of the Internal Revenue Code of 1986
(defining specified credits), as amended by this Act, is amended by striking
the period at the end of clause (iii) and inserting <quote>, and,</quote> and
by adding at the end the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="idCFD88C7F2A7D4BF08C0BE3CA4F0A0912" style="OLC">
<clause id="idFBF943C560C549F1A1239859A1C4B8D2"><enum>(iv)</enum><text>the portion of
the investment credit under section 46(2) as determined under section
48(a)(2)(A)(i).</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id3DE7E1FDD21E4D8F81E9784B371F0005"><enum>(2)</enum><header>Effective
date</header><text>The amendments made by this subsection shall apply to
taxable years beginning after December 31, 2005.</text>
</paragraph></subsection><subsection id="ID8B95D6B0A1844960834D3350A1685770"><enum>(d)</enum><header>Solar
Investment Credit Allowed for Public Utility Property</header>
<paragraph id="id82D9A78C1D044533AB3F3CBB1FA6B97A"><enum>(1)</enum><header>In
general</header><text>The second sentence of section 48(a)(3) of the Internal
Revenue Code of 1986 is amended by inserting <quote>(other than property
described in clause (i) or (ii) of subparagraph (A))</quote> before
<quote>shall not</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDBAB0079ED72F42D9B1A8D76661246921"><enum>(2)</enum><header>Effective
Date</header><text>The amendments made by this subsection shall apply to
periods after the date of the enactment of this Act, in taxable years ending
after such date, under rules similar to the rules of section 48(m) of the
Internal Revenue Code of 1986 (as in effect on the day before the date of the
enactment of the Revenue Reconciliation Act of 1990).</text>
</paragraph></subsection></section><section commented="no" id="idE1B69048E5304E19A7E1C15862132EED"><enum>323.</enum><header>Credit for
wind energy systems</header>
<subsection commented="no" id="id658C2544E75E483EAF9F7F83AFEDAA2F"><enum>(a)</enum><header>Residential</header>
<paragraph commented="no" id="id21450E937AA14015AA25668D089AF303"><enum>(1)</enum><header>In
general</header><text>Section 25D(a) of the Internal Revenue Code of 1986 is
amended by striking <quote>and</quote> at the end of paragraph (2), by striking
the period at the end of paragraph (3) and inserting <quote>, and</quote>, and
by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id3ADC5E227FF64F4AA0A2872FA55001DF" style="OLC">
<paragraph id="ID8DBD7D39F8A748CEA7CA80002FE00227"><enum>(4)</enum><text>30 percent of the
qualified small wind energy property expenditures made by the taxpayer during
such
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="id3242E10E655644D5B375F5EDBBD17845"><enum>(2)</enum><header>Limitation</header><text>Section
25D(b)(1) of the Internal Revenue Code of 1986 is amended by striking
<quote>and</quote> at the end of subparagraph (B), by striking the period at
the end of subparagraph (A) and inserting <quote>, and</quote>, and by adding
at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="idA25E0768FB4340E0985B99ABDBF4E40F" style="OLC">
<subparagraph id="IDBC92D61F1E094A329F91D4A7FD405514"><enum>(D)</enum><text>$500 with respect
to each half kilowatt of capacity (not to exceed $2,000) of qualifying wind
turbines for which qualified small wind energy property expenditures are
made.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="id9AC700099CE547C9972F594BC4AD80E3"><enum>(3)</enum><header>Qualified small
wind energy property expenditures</header><text>Section 25D(d) of the Internal
Revenue Code of 1986 is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id267F5E128A184510A8826BAC5415AB1F" style="OLC">
<paragraph id="ID2FF5E9F734AF414AA5A1D4F2C0C042B9"><enum>(4)</enum><header>Qualified small
wind energy property expenditure</header>
<subparagraph id="idFB910476C2B64B3F8B54913D01F9D797"><enum>(A)</enum><header>In
general</header><text>The term <term>qualified wind energy property
expenditure</term> means an expenditure for property which uses a qualifying
wind turbine to generate electricity for use in connection with a dwelling unit
located in the United States and used as a residence by the taxpayer.</text>
</subparagraph><subparagraph id="IDcf6a282707324183aeaafe563541939c"><enum>(B)</enum><header>Qualifying wind
turbine</header><text>The term <term>qualifying wind turbine</term> means a
wind turbine of 100 kilowatts of rated capacity or less which meets the latest
performance rating standards published by the American Wind Energy Association
and which is used to generate electricity and carries at least a 5-year limited
warranty covering defects in design, material, or workmanship, and, for
property that is not installed by the taxpayer, at least a 5-year limited
warranty covering defects in
installation.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" id="idEFC710EF691B4C469F5ECFADA226D294"><enum>(b)</enum><header>Business</header><text>Section
48(a)(3)(A) of the Internal Revenue Code of 1986 (defining energy property) is
amended by striking <quote>or</quote> at the end of clause (iii), by adding
<quote>or</quote> at the end of clause (iv), and by inserting after clause (iv)
the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="idE52E1EFACB414EC89DC92B45390C56FC" style="OLC">
<clause commented="no" id="id9E68BC35102540FAB79D24194F9CBED0"><enum>(v)</enum><text>qualifying wind
turbine (as defined in section
25D(d)(B)),</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="ID6667780435C94DAE88DAB258012B90C9"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act, in taxable years
ending after such date.</text>
</subsection></section><section id="id0F516F80874C4ADFB08F892337D60200"><enum>324.</enum><header>Expansion of
resources to wave, current, tidal, and ocean thermal energy</header>
<subsection id="ID0517764789B44C06AA65971FF7E1D68A"><enum>(a)</enum><header>In
general</header><text>Section 45(c)(1) of the Internal Revenue Code of 1986
(defining qualified energy resources) is amended by striking <quote>and</quote>
at the end of subparagraph (G), by striking the period at the end of
subparagraph (H) and inserting <quote>, and</quote>, and by adding at the end
the following new subparagraph:</text>
<quoted-block id="IDB1A9F7D02F3A4180A1F5E892A2145E8A">
<subparagraph id="IDFB33D7CF222B44648FA7002D78B195FB"><enum>(I)</enum><text>wave, current,
tidal, and ocean thermal energy.</text>
</subparagraph><after-quoted-block></after-quoted-block></quoted-block>
</subsection><subsection id="IDCA024BA3B1C148208399BCC041ABCFD8"><enum>(b)</enum><header>Definition of
resources</header><text>Section 45(c) of the Internal Revenue Code of 1986 is
amended by adding at the end the following new paragraph:</text>
<quoted-block id="IDEC0525A3D4FB4D0AA807665FBCE11AE8">
<paragraph id="IDCDABFE3FBC9E44648BF7E4799F3A3F66"><enum>(10)</enum><header>Wave, current,
tidal, and ocean thermal energy</header><text>The term <term>wave, current,
tidal, and ocean thermal energy</term> means electricity produced from any of
the following:</text>
<subparagraph id="ID171E903964E14C1198E0A814A011F1F2"><enum>(A)</enum><text>Free flowing
ocean water derived from tidal currents, ocean currents, waves, or estuary
currents.</text>
</subparagraph><subparagraph id="ID9D58961AC6F94E64BEA126AE610C391F"><enum>(B)</enum><text>Ocean thermal
energy.</text>
</subparagraph><subparagraph id="IDFABF75428B0042F8B9E3FFDCECB4AF45"><enum>(C)</enum><text>Free flowing
water in rivers, lakes, man made channels, or
streams.</text>
</subparagraph></paragraph><after-quoted-block></after-quoted-block></quoted-block>
</subsection><subsection id="ID72EBA8606AE043AAB09263B38F631796"><enum>(c)</enum><header>Facilities</header><text>Section
45(d) of the Internal Revenue Code of 1986 is amended by adding at the end the
following new paragraph:</text>
<quoted-block id="IDEAF3C82197C247BC8047EE4405216FFB">
<paragraph id="ID5C6204EE3D7B4C2DB0541D0219FB975E"><enum>(11)</enum><header>Wave, current,
tidal, and ocean thermal facility</header><text>In the case of a facility using
resources described in subparagraph (A), (B), or (C) of subsection (c)(10) to
produce electricity, the term <term>qualified facility</term> means any
facility owned by the taxpayer which is originally placed in service after the
date of the enactment of this paragraph and before January 1, 2015, but such
term shall not include a facility which includes impoundment structures or a
small irrigation power facility.</text>
</paragraph><after-quoted-block></after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idAB1368BBB0034572BF3EAC91A67E1645"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years ending after the date of the enactment of this Act.</text>
</subsection></section><section id="id6D2B44CB3F614239AA0004F57AEA1826"><enum>325.</enum><header>Extension and
expansion of credit to holders of clean renewable energy bonds</header>
<subsection id="id70990EA9C50F4BB3BE44D304EEEC1620"><enum>(a)</enum><header>In
general</header><text>Section 54(m) of the Internal Revenue Code of 1986
(relating to termination) is amended by striking <quote>2007</quote> and
inserting <quote>2014</quote>.</text>
</subsection><subsection id="id4912686A2CF84CF0880CD9D679115533"><enum>(b)</enum><header>Annual volume
cap for bonds issued during extension period</header><text>Paragraph (1) of
section 54(f) of the Internal Revenue Code of 1986 (relating to limitation on
amount of bonds designated) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id2231E0D6ECE6469283C3316354CB92E7" style="OLC">
<paragraph id="id1A13689357D24201B2208988AA158A53"><enum>(1)</enum><header>National
limitation</header>
<subparagraph id="idAC5C8D2E604E447AAAC3C1BFEF2AE724"><enum>(A)</enum><header>Initial
national limitation</header><text>With respect to bonds issued after December
31, 2005, and before January 1, 2008, there is a national clean renewable
energy bond limitation of $800,000,000.</text>
</subparagraph><subparagraph id="id51B8D5F93F854B0A9A340C07C6F3FF1C"><enum>(B)</enum><header>Annual national
limitation</header><text>With respect to bonds issued after December 31, 2007,
and before January 1, 2014, there is a national clean renewable energy bond
limitation for each calendar year of
$800,000,000.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id786D1F61382F406CBD38448C16A0E914"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to bonds
issued after the date of the enactment of this Act.</text>
</subsection></section><section id="id299D2C449AD94F219CA44297A4A170B6"><enum>326.</enum><header>Extension of
credit for business installation of qualified fuel cells and stationary
microturbine power plants</header><text display-inline="no-display-inline">Sections 48(c)(1)(E) and 48(c)(2)(E) of the
Internal Revenue Code of 1986 (relating to termination) are each amended by
striking <quote>2007</quote> and inserting <quote>2014</quote>.</text>
</section><section id="idB19156429C7A4678AF3CE78D8D3AD754"><enum>327.</enum><header>Extension of
business solar investment tax credit</header><text display-inline="no-display-inline">Sections 48(a)(2)(A)(i)(II) and
48(a)(3)(A)(ii) of the Internal Revenue Code of 1986 (relating to termination)
are each amended by striking <quote>2008</quote> and inserting
<quote>2014</quote>.</text>
</section><section id="idEAF5D0C121064AF0B4E92175F1F58ACD"><enum>328.</enum><header>Extension of
full credit for qualified electric vehicles</header>
<subsection id="idFC974AB02C7F427D8371596E98A05EBD"><enum>(a)</enum><header>In
general</header><text>Section 30(e) of the Internal Revenue Code of 1986 is
amended by striking <quote>2006</quote> and inserting
<quote>2015</quote>.</text>
</subsection><subsection id="id36C5FCC47E7E4FCD98CC8C6BD3F30C9F"><enum>(b)</enum><header>Repeal of
phaseout</header><text>Section 30(b) of the Internal Revenue Code of 1986
(relating to limitations) is amended by striking paragraph (2) and by
redesignating paragraph (3) as paragraph (2).</text>
</subsection><subsection id="idF359623297784805AA7EBABEED93A545"><enum>(c)</enum><header>Credit
allowable against alternative minimum tax</header><text>Paragraph (2) of
section 30(b) of the Internal Revenue Code of 1986, as redesignated by
subsection (b), is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id1B83E31C1C884C6F8F698C9828D4A801" style="OLC">
<paragraph id="idEBB452EC12CF4DFF91F30F2C2627CDB0"><enum>(2)</enum><header>Application
with other credits</header><text>The credit allowed by subsection (a) for any
taxable year shall not exceed the excess (if any) of—</text>
<subparagraph id="id1BDF4210061747DA8AFC80757337A374"><enum>(A)</enum><text>the sum of the
regular tax for the taxable year plus the tax imposed by section 55,
over</text>
</subparagraph><subparagraph id="idE1220944F17D41D19A61D5D8B41FAB84"><enum>(B)</enum><text>the sum of the
credits allowable under subpart A and section
27.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id73CE2641E49444FE86961E846274EFAE"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2005.</text>
</subsection></section></subtitle><subtitle id="idFEB3021791F942C589D6B3560A80006F"><enum>D</enum><header>Long-term
extensions and expansions for energy efficiency and conservation
incentives</header>
<section id="id9A91268560DF4CD78C67B66BFBEBDBE2"><enum>331.</enum><header>Extension of
energy efficient commercial buildings deduction</header><text display-inline="no-display-inline">Section 179D(h) of the Internal Revenue Code
of 1986 (relating to termination) is amended by striking <quote>2007</quote>
and inserting <quote>2014</quote>.</text>
</section><section id="id017E65BBC4614B95A66A69EC47A3A3A8"><enum>332.</enum><header>Extension and
expansion of new energy efficient home credit</header>
<subsection id="id2F998A8715ED47F7869BE969E3EB4DF9"><enum>(a)</enum><header>Extension</header><text>Section
45L(g) of the Internal Revenue Code of 1986 (relating to termination) is
amended by striking <quote>2007</quote> and inserting
<quote>2014</quote>.</text>
</subsection><subsection id="idFED5034CA01F458D864F25151D93E1AE"><enum>(b)</enum><header>Inclusion of 30
percent homes</header>
<paragraph id="id8B4879F323054E5F9600D7C7CC02813A"><enum>(1)</enum><header>In
general</header><text>Section 45L(c) of the Internal Revenue Code of 1986
(relating to energy saving requirements) is amended—</text>
<subparagraph id="id4DF35C5BCB6B4E5E886CB2D8C1BB24C7"><enum>(A)</enum><text>by striking
<quote>or</quote> at the end of paragraph (2);</text>
</subparagraph><subparagraph id="idCA46823B574A4886B90EE129A0CAD86D"><enum>(B)</enum><text>by redesignating
paragraph (3) as paragraph (4); and</text>
</subparagraph><subparagraph id="id094CA19B656C45E0AC5B34F4B7346529"><enum>(C)</enum><text>by inserting
after paragraph (2) the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id1E7410CA1D114490B44A86482E035CE5" style="OLC">
<paragraph id="idA8063880814F4DDDA6F678356C1A4A39"><enum>(3)</enum><text>certified—</text>
<subparagraph id="idF1065D7F2C1C4C7E830991CF7AF14DEF"><enum>(A)</enum><text>to have a level
of annual heating and cooling energy consumption which is at least 30 percent
below the annual level described in paragraph (1), and</text>
</subparagraph><subparagraph id="id7F856CB2CA414F888AD0972555BDAC2C"><enum>(B)</enum><text>to have building
envelope component improvements account for at least 1/3 of such 30 percent,
or.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="id5F0D732650BD4F95818278F6FA61EE1A"><enum>(2)</enum><header>Applicable
amount of credit</header><text>Section 45L(a)(2) is amended by striking
<quote>paragraph (3)</quote> and inserting <quote>paragraph (3) or
(4)</quote>.</text>
</paragraph><paragraph id="idE55975EFD8E142D79EDC0B95C58FD498"><enum>(3)</enum><header>Effective
date</header><text>The amendments made by this subsection shall apply to
qualified new energy efficient homes acquired after the date of the enactment
of this Act.</text>
</paragraph></subsection></section><section id="idC036A7B0A19A45E69EA188B3923B3C81"><enum>333.</enum><header>Extension of
nonbusiness energy property credit</header><text display-inline="no-display-inline">Section 25C(g) of the Internal Revenue Code
of 1986 (relating to termination) is amended by striking <quote>2007</quote>
and inserting <quote>2014</quote>.</text>
</section><section id="id7090046515BD4BAD82334398429E2BE8"><enum>334.</enum><header>Extension and
modification of residential energy efficient property credit</header>
<subsection id="idF7211E19822240478D5C36DFF76D78DC"><enum>(a)</enum><header>Extension</header><text>Section
25D(g) of the Internal Revenue Code of 1986 (relating to termination) is
amended by striking <quote>2007</quote> and inserting
<quote>2014</quote>.</text>
</subsection><subsection id="idECFBB9978EE3424AA330B8E47B449F19"><enum>(b)</enum><header>Modification of
maximum credit</header><text>Paragraph (1) of section 25D(b) of the Internal
Revenue Code of 1986 (relating to limitations) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="id4FB5E66B8F6140329C360CE5FFF42820" style="OLC">
<paragraph id="id2D045792A83641BD9774ADB638CB0972"><enum>(1)</enum><header>Maximum
credit</header><text>The credit allowed under subsection (a) for any taxable
year shall not exceed—</text>
<subparagraph id="idAB5EC11E35C844E599775C18651CBDB5"><enum>(A)</enum><text>$1,000 with
respect to each half kilowatt of capacity of qualified photovoltaic property
for which qualified photovoltaic property expenditures are made,</text>
</subparagraph><subparagraph id="id84335D49298E465784B8E5E3FD7D6D10"><enum>(B)</enum><text>$2,000 with
respect to any qualified solar water heating property expenditures, and</text>
</subparagraph><subparagraph id="id96C5E10AD2FB4C6490E76BC97CB86299"><enum>(C)</enum><text>$500 with respect
to each half kilowatt of capacity of qualified fuel cell property (as defined
in section 48(c)(1)) for which qualified fuel cell property expenditures are
made.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id1D5931D80ABC47F5BCFFDE5EE17C57D9"><enum>(c)</enum><header>Credit allowed
against alternative minimum tax</header>
<paragraph id="id9A141CE69A8045258F4723DA7CE24FB0"><enum>(1)</enum><header>In
general</header><text>Section 25D(b) of the Internal Revenue Code of 1986 (as
amended by subsection (b)) is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id84A343135724442FBC674A55EDD31432" style="OLC">
<paragraph id="id60CE2151786740CABDF4A27CD5D930AD"><enum>(3)</enum><header>Credit allowed
against alternative minimum tax</header><text>The credit allowed under
subsection (a) for the taxable year shall not exceed the excess of—</text>
<subparagraph id="id02A2D1654A3642D6B86344251C146155"><enum>(A)</enum><text>the sum of the
regular tax liability (as defined in section 26(b)) plus the tax imposed by
section 55, over</text>
</subparagraph><subparagraph id="id669C8941CF294B7F882C8355B065D0F6"><enum>(B)</enum><text>the sum of the
credits allowable under subpart A of part IV of subchapter A and section 27 for
the taxable
year.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id050E34CE10F743869726C1C0B7E2EE56"><enum>(2)</enum><header>Conforming
amendment</header><text>Subsection (c) of section 25D of such Code is amended
to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id06E01B1EF5484592B20AF803295ACACB" style="OLC">
<subsection id="id25CACD50C0BA4876A73D142A34487AA7"><enum>(c)</enum><header>Carryforward of
unused credit</header><text>If the credit allowable under subsection (a) for
any taxable year exceeds the limitation imposed by subsection (b)(3) for such
taxable year, such excess shall be carried to the succeeding taxable year and
added to the credit allowable under subsection (a) for such succeeding taxable
year.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="id1FB31D62E32F46B9A37C9C2CDF0EFCE1"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2005.</text>
</subsection></section><section id="idD9D6453A064A451BAB8DBFCAA64358FD"><enum>335.</enum><header>Energy credit
for combined heat and power system property</header>
<subsection id="idC38A25CE89434559B9AAD6ADAC1381F4"><enum>(a)</enum><text>In
general.—Section 48(a)(3)(A) of the Internal Revenue Code of 1986 (defining
energy property) is by striking <quote>or</quote> at the end of clause (iii),
by inserting <quote>or</quote> at the end of clause (iv), and by adding at the
end the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="idA5C9F536CDDA4FE8B902B349587D91D2" style="OLC">
<clause id="id4D31107FE6024C68A8133F7A16FE823F"><enum>(v)</enum><text>combined heat and
power system
property,</text>
</clause><after-quoted-block>;</after-quoted-block></quoted-block>
</subsection><subsection id="idCDA59929FB844C3E8E413351CABF9FAC"><enum>(b)</enum><header>Combined heat
and power system property</header><text>Section 48 of the Internal Revenue Code
of 1986 is amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="id241CD9A829DD43C0A4CD265DDCCCD315" style="OLC">
<subsection id="id39175813A93E46EA8050E5F2227D6D38"><enum>(d)</enum><header>Combined heat
and power system property</header><text>For purposes of subsection
(a)(3)(A)(v)—</text>
<paragraph id="idB2E0C971DBAC48D6B8406F710D499CED"><enum>(1)</enum><header>Combined heat
and power system property</header><text>The term <quote>combined heat and power
system property</quote> means property comprising a system—</text>
<subparagraph id="idE438A8C1CDDB4D00BE0FE7DA65A54060"><enum>(A)</enum><text>which uses the
same energy source for the simultaneous or sequential generation of electrical
power, mechanical shaft power, or both, in combination with the generation of
steam or other forms of useful thermal energy (including heating and cooling
applications),</text>
</subparagraph><subparagraph id="id30CC197B57954AD9B6F4E05394630FE1"><enum>(B)</enum><text>which has an
electrical capacity of not more than 15 megawatts or a mechanical energy
capacity of not more than 2,000 horsepower or an equivalent combination of
electrical and mechanical energy capacities,</text>
</subparagraph><subparagraph id="id94BA8EF9DA9245B49B5697322915BAE9"><enum>(C)</enum><text>which
produces—</text>
<clause id="idE281D7515A184D7BB4E9348FF2085CCC"><enum>(i)</enum><text>at least 20
percent of its total useful energy in the form of thermal energy which is not
used to produce electrical or mechanical power (or combination thereof),
and</text>
</clause><clause id="id0CC1389075D140EE8438A70A481F20F7"><enum>(ii)</enum><text>at least 20
percent of its total useful energy in the form of electrical or mechanical
power (or combination thereof),</text>
</clause></subparagraph><subparagraph id="id9B980BC132854158A959AA65969CE950"><enum>(D)</enum><text>the energy
efficiency percentage of which exceeds 60 percent, and</text>
</subparagraph><subparagraph id="id9D77FE3894294B8DA316D8ABBC546825"><enum>(E)</enum><text>which is placed
in service before January 1, 2015.</text>
</subparagraph></paragraph><paragraph id="id4E075ACA1ED148E7AD64036FD58C194D"><enum>(2)</enum><header>Special
rules</header>
<subparagraph id="id956883711BE54099BA398D1BD6634FE2"><enum>(A)</enum><header>Energy
efficiency percentage</header><text>For purposes of this subsection, the energy
efficiency percentage of a system is the fraction—</text>
<clause id="id36FB6B02C92942F68D7E82C0BB2E8838"><enum>(i)</enum><text>the numerator of
which is the total useful electrical, thermal, and mechanical power produced by
the system at normal operating rates, and expected to be consumed in its normal
application, and</text>
</clause><clause id="id79D4572B5B69409CB9AF30AD9B16782C"><enum>(ii)</enum><text>the denominator
of which is the higher heating value of the primary fuel sources for the
system.</text>
</clause></subparagraph><subparagraph id="idCF237A54C9ED4604AD83C95CDACB18F9"><enum>(B)</enum><header>Determinations
made on btu basis</header><text>The energy efficiency percentage and the
percentages under paragraph (1)(C) shall be determined on a Btu basis.</text>
</subparagraph><subparagraph id="idB535C47D92F54ED9B110034E5E64B3D8"><enum>(C)</enum><header>Input and
output property not included</header><text>The term <term>combined heat and
power system property</term> does not include property used to transport the
energy source to the facility or to distribute energy produced by the
facility.</text>
</subparagraph><subparagraph id="id51F66E8C81B24137A4C5BCF229F32091"><enum>(D)</enum><header>Certain
exception not to apply</header><text>The first sentence of the matter in
subsection (a)(3) which follows subparagraph (D) thereof shall not apply to
combined heat and power system property.</text>
</subparagraph></paragraph><paragraph id="id77E44DEB582B4F3CAB9F178B9680D9BE"><enum>(3)</enum><header>Systems using
bagasse</header><text>If a system is designed to use bagasse for at least 90
percent of the energy source—</text>
<subparagraph id="id4CDF454A6C9C471AB6B811A44B6B8170"><enum>(A)</enum><text>paragraph (1)(D)
shall not apply, but</text>
</subparagraph><subparagraph id="idDBBDE492E14A4294A6E0D887B28ED102"><enum>(B)</enum><text>the amount of
credit determined under subsection (a) with respect to such system shall not
exceed the amount which bears the same ratio to such amount of credit
(determined without regard to this paragraph) as the energy efficiency
percentage of such system bears to 60 percent.</text>
</subparagraph></paragraph><paragraph id="id189AF7F8CF224715A13E59368A8C0885"><enum>(4)</enum><header>Nonapplication
of certain rules</header><text>For purposes of determining if the term
<quote>combined heat and power system property</quote> includes technologies
which generate electricity or mechanical power using back-pressure steam
turbines in place of existing pressure-reducing valves or which make use of
waste heat from industrial processes such as by using organic rankin, stirling,
or kalina heat engine systems, paragraph (1) shall be applied without regard to
subparagraphs (C) and (D) thereof
.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id497844B7278347C0AB6E1435D15F8888"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to periods
after December 31, 2005, in taxable years ending after such date, under rules
similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as
in effect on the day before the date of the enactment of the Revenue
Reconciliation Act of 1990).</text>
</subsection></section><section id="id0B52B026883B4B23B37C3FDF2E3BF230"><enum>336.</enum><header>Three-year
applicable recovery period for depreciation of qualified energy
management</header>
<subsection id="id29B76FD2BE86414EB09681051DF90EDA"><enum>(a)</enum><header>In
general</header><text>Section 168(e)(3)(A) of the Internal Revenue Code of 1986
(defining 3-year property) is amended by striking <quote>and</quote> at the end
of clause (ii), by striking the period at the end of clause (iii) and inserting
<quote>, and,</quote> and by adding at the end the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="id5CE3CE7CD9D5422ABA387D437F69A2E6" style="OLC">
<clause id="id4EB3B28AC5734DC6B4058ADC5BA87EDE"><enum>(iv)</enum><text>any qualified
energy management
device.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id463C36A2435A41148A3719E9D509AA1B"><enum>(b)</enum><header>Definition of
qualified energy management device</header><text>Section 168(i) of the Internal
Revenue Code of 1986 (relating to definitions and special rules) is amended by
inserting at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="idC4C915015FC54F1B94206617CDA515F1" style="OLC">
<paragraph id="id1526C358E7E947119DD77CB175F89BEA"><enum>(18)</enum><header>Qualified
energy management device</header>
<subparagraph id="id3C933912A9904FE6B54B98C8CB2C3730"><enum>(A)</enum><header>In
general</header><text>The term <term>qualified energy management device</term>
means any energy management device which is placed in service before January 1,
2015, by a taxpayer who is a supplier of electric energy or a provider of
electric energy services.</text>
</subparagraph><subparagraph id="id93F03FA8B8FF46A6B4E7F676D333DEB0"><enum>(B)</enum><header>Energy
management device</header><text>For purposes of subparagraph (A), the term
<term>energy management device</term> means any meter or metering device which
is used by the taxpayer—</text>
<clause id="id794B6067C9B7406D9A6F93DC3AFACEEF"><enum>(i)</enum><text>to measure and
record electricity usage data on a time-differentiated basis in at least 4
separate time segments per day, and</text>
</clause><clause id="id43245F4CBE554295A45698584FC71585"><enum>(ii)</enum><text>to provide such
data on at least a monthly basis to both consumers and the
taxpayer.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idE06B119F927E4B93827F65CDB9C865A4"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act, in taxable years
ending after such date.</text>
</subsection></section><section id="id8AD1730FFE484E5D9E23CF654233C2F9"><enum>337.</enum><header>Three-year
applicable recovery period for depreciation of qualified water submetering
devices</header>
<subsection id="id5D4F00958CA14A5792BAC0982383F773"><enum>(a)</enum><header>In
general</header><text>Section 168(e)(3)(A) of the Internal Revenue Code of 1986
(defining 3-year property), as amended by this Act, is amended by striking
<quote>and</quote> at the end of clause (iii), by striking the period at the
end of clause (iv) and inserting <quote>, and,</quote> and by adding at the end
the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="id3677B5FBBC3E4068ADF0B186314FDCFF" style="OLC">
<clause id="idF9A22A920FDE488D82A726D54E349E36"><enum>(v)</enum><text>any qualified
water submetering
device.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id37E5EE0F3D024AAC9E3D622D5428693E"><enum>(b)</enum><header>Definition of
qualified water submetering device</header><text>Section 168(i) of the Internal
Revenue Code of 1986 (relating to definitions and special rules), as amended by
this Act, is amended by inserting at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id7106A426D61848F98C514BF3F713A55E" style="OLC">
<paragraph id="id7263A16F5E51475080F168B3425C7F3C"><enum>(19)</enum><header>Qualified
water submetering device</header>
<subparagraph id="idD0A252295CEE47B1A462298751081330"><enum>(A)</enum><header>In
general</header><text>The term <term>qualified water submetering device</term>
means any water submetering device which is placed in service before January 1,
2015, by a taxpayer who is an eligible resupplier with respect to the unit for
which the device is placed in service.</text>
</subparagraph><subparagraph id="idD83FCB0858C840FC9A1F4689734191A0"><enum>(B)</enum><header>Water
submetering device</header><text>For purposes of this paragraph, the term
`water submetering device' means any submetering device which is used by the
taxpayer—</text>
<clause id="idC555737D7B414335A0DC3248B84B793E"><enum>(i)</enum><text>to measure and
record water usage data, and</text>
</clause><clause id="id04AC6385DBC64ADC83FC60AD613D1843"><enum>(ii)</enum><text>to provide such
data on at least a monthly basis to both consumers and the taxpayer.</text>
</clause></subparagraph><subparagraph id="id00568CDAD4014D31806B8D8CAAA1BEFE"><enum>(C)</enum><header>Eligible
resupplier</header><text>For purposes of subparagraph (A), the term
<term>eligible resupplier</term> means any taxpayer who purchases and installs
qualified water submetering devices in every unit in any multi-unit
property.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id858D6B47B17A4A5E93F4C200E7E73CFA"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act, in taxable years
ending after such date.</text>
</subsection></section></subtitle><subtitle id="idEE86704DAA44462BBA170D9CAE67B832"><enum>E</enum><header>Utilizing
America’s abundant coal supplies cleanly</header>
<section id="id5F8C05E9C97E43CFBC2A9131F8CED856"><enum>341.</enum><header>Clean energy
coal bonds</header>
<subsection id="id79A862CE215A4283A62BAD530D1BCFDB"><enum>(a)</enum><header>In
general</header><text>Subpart H of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 is amended by adding at the end the following new
section:</text>
<quoted-block display-inline="no-display-inline" id="idD6B0AEF4EAAF4DEC83AAEEB7462281F7" style="OLC">
<section id="idCDA60C1DFD5A4C3ABEE5AB4C5ABD5B89"><enum>54A.</enum><header>Credit to
holders of clean energy coal bonds</header>
<subsection id="id2BD53C25349947DBA31C6572C0842CD9"><enum>(a)</enum><header>Allowance of
credit</header><text>If a taxpayer holds a clean energy coal bond on 1 or more
credit allowance dates of the bond occurring during any taxable year, there
shall be allowed as a credit against the tax imposed by this chapter for the
taxable year an amount equal to the sum of the credits determined under
subsection (b) with respect to such dates.</text>
</subsection><subsection id="id1BD5DA1786634F7D88E5126E7F80233A"><enum>(b)</enum><header>Amount of
credit</header>
<paragraph id="idCDF5B7533E1E4B238E202465775FBA66"><enum>(1)</enum><header>In
general</header><text>The amount of the credit determined under this subsection
with respect to any credit allowance date for a clean energy coal bond is 25
percent of the annual credit determined with respect to such bond.</text>
</paragraph><paragraph id="id3E36CC9E1C3E46CDAA316808D18A05E1"><enum>(2)</enum><header>Annual
credit</header><text>The annual credit determined with respect to any clean
energy coal bond is the product of—</text>
<subparagraph id="id13B24E4FEE8E45F7A622952BEA2CF40E"><enum>(A)</enum><text>the credit rate
determined by the Secretary under paragraph (3) for the day on which such bond
was sold, multiplied by</text>
</subparagraph><subparagraph id="id10C02CD4E83A4952A7E4A3E870CE91F9"><enum>(B)</enum><text>the outstanding
face amount of the bond.</text>
</subparagraph></paragraph><paragraph id="idA3F21181F1034A97807534172A086344"><enum>(3)</enum><header>Determination</header><text>For
purposes of paragraph (2), with respect to any clean energy coal bond, the
Secretary shall determine daily or cause to be determined daily a credit rate
which shall apply to the first day on which there is a binding, written
contract for the sale or exchange of the bond. The credit rate for any day is
the credit rate which the Secretary or the Secretary’s designee estimates will
permit the issuance of clean energy coal bonds with a specified maturity or
redemption date without discount and without interest cost to the qualified
issuer.</text>
</paragraph><paragraph id="idA6FCB30383484D859F236D702FE97F56"><enum>(4)</enum><header>Credit
allowance date</header><text>For purposes of this section, the term
<term>credit allowance date</term> means—</text>
<subparagraph id="idD4D78F4CB65A4D18949210ACB93DAA00"><enum>(A)</enum><text>March 15,</text>
</subparagraph><subparagraph id="id6105A76767E24C0FB262F2423FA7A33C"><enum>(B)</enum><text>June 15,</text>
</subparagraph><subparagraph id="id30FE8090C05D4201B756CD409360BDB5"><enum>(C)</enum><text>September 15,
and</text>
</subparagraph><subparagraph id="idC1BAC3922DC14BEEBEEEE0FBD1B1D0CA"><enum>(D)</enum><text>December
15.</text>
</subparagraph><continuation-text continuation-text-level="paragraph">Such term
also includes the last day on which the bond is outstanding.</continuation-text></paragraph><paragraph id="idB6D205662EB64CD99E267282A69FFFAC"><enum>(5)</enum><header>Special rule
for issuance and redemption</header><text>In the case of a bond which is issued
during the 3-month period ending on a credit allowance date, the amount of the
credit determined under this subsection with respect to such credit allowance
date shall be a ratable portion of the credit otherwise determined based on the
portion of the 3-month period during which the bond is outstanding. A similar
rule shall apply when the bond is redeemed or matures.</text>
</paragraph></subsection><subsection id="id89B892E32DBD4D489332843A380EAFAB"><enum>(c)</enum><header>Limitation
based on amount of tax</header><text>The credit allowed under subsection (a)
for any taxable year shall not exceed the excess of—</text>
<paragraph id="idF739974D07854D3BAE95290C3763847B"><enum>(1)</enum><text>the sum of the
regular tax liability (as defined in section 26(b)) plus the tax imposed by
section 55, over</text>
</paragraph><paragraph id="idE006B7B885034DBABB956794BEACB02A"><enum>(2)</enum><text>the sum of the
credits allowable under this part (other than subpart C, this subpart and
section 1400N(l)).</text>
</paragraph></subsection><subsection id="id195F03F98BA5494DB774D38220D111E5"><enum>(d)</enum><header>Clean energy
coal bond</header><text>For purposes of this section—</text>
<paragraph id="idDF6C73826CF2472B8154E6ABE3E5FFFF"><enum>(1)</enum><header>In
general</header><text>The term <term>clean energy coal bond</term> means any
bond issued as part of an issue if—</text>
<subparagraph id="idA3AC195EC5964D2CB7A9D6AF3FF90A46"><enum>(A)</enum><text>the bond is
issued by a qualified issuer pursuant to an allocation by the Secretary to such
issuer of a portion of the national clean energy coal bond limitation under
subsection (f)(2),</text>
</subparagraph><subparagraph id="idF876B4F1882047E38B914E9AB7DFAD37"><enum>(B)</enum><text>95 percent or
more of the proceeds from the sale of such issue are to be used for capital
expenditures incurred by qualified borrowers for 1 or more qualified
projects,</text>
</subparagraph><subparagraph id="id16E8E4E1C35944B49203FE0A1D84A383"><enum>(C)</enum><text>the qualified
issuer designates such bond for purposes of this section and the bond is in
registered form, and</text>
</subparagraph><subparagraph id="id6B7F8C3B0FB1442E8AC6CE971DAC1532"><enum>(D)</enum><text>the issue meets
the requirements of subsection (h).</text>
</subparagraph></paragraph><paragraph id="id5A56EE88C86647CAB93D99770FE9DEA4"><enum>(2)</enum><header>Qualified
project; special use rules</header>
<subparagraph id="idB32A2D75ED8349238A2D7811A4A5E255"><enum>(A)</enum><header>In
general</header><text>The term <term>qualified project</term> means a
qualifying advanced coal project (as defined in section 48A(c)(1)) placed in
service by a qualified borrower.</text>
</subparagraph><subparagraph id="id2EAA588047234FE4A385E14879D53DA6"><enum>(B)</enum><header>Refinancing
rules</header><text>For purposes of paragraph (1)(B), a qualified project may
be refinanced with proceeds of a clean energy coal bond only if the
indebtedness being refinanced (including any obligation directly or indirectly
refinanced by such indebtedness) was originally incurred by a qualified
borrower after the date of the enactment of this section.</text>
</subparagraph><subparagraph id="idD44E6E60B13043E4AB9DC4D61F94A0B4"><enum>(C)</enum><header>Reimbursement</header><text>For
purposes of paragraph (1)(B), a clean energy coal bond may be issued to
reimburse a qualified borrower for amounts paid after the date of the enactment
of this section with respect to a qualified project, but only if—</text>
<clause id="id24266308B2A740E38DE26995C8A12B16"><enum>(i)</enum><text>prior to the
payment of the original expenditure, the qualified borrower declared its intent
to reimburse such expenditure with the proceeds of a clean energy coal
bond,</text>
</clause><clause id="idC8EA8E83679D437F90B5F73AAD25003D"><enum>(ii)</enum><text>not later than
60 days after payment of the original expenditure, the qualified issuer adopts
an official intent to reimburse the original expenditure with such proceeds,
and</text>
</clause><clause id="idF8A6C06A7B7A4162B903AAF244EB42BF"><enum>(iii)</enum><text>the
reimbursement is made not later than 18 months after the date the original
expenditure is paid.</text>
</clause></subparagraph><subparagraph id="id566302DD73E648B4AB430045FA33D8D7"><enum>(D)</enum><header>Treatment of
changes in use</header><text>For purposes of paragraph (1)(B), the proceeds of
an issue shall not be treated as used for a qualified project to the extent
that a qualified borrower takes any action within its control which causes such
proceeds not to be used for a qualified project. The Secretary shall prescribe
regulations specifying remedial actions that may be taken (including conditions
to taking such remedial actions) to prevent an action described in the
preceding sentence from causing a bond to fail to be a clean energy coal
bond.</text>
</subparagraph></paragraph></subsection><subsection id="id26A46445B7844BE5853253CCC12BC711"><enum>(e)</enum><header>Maturity
limitations</header>
<paragraph id="id75F1D5D9A34648DCBE281B07DF80F65B"><enum>(1)</enum><header>Duration of
term</header><text>A bond shall not be treated as a clean energy coal bond if
the maturity of such bond exceeds the maximum term determined by the Secretary
under paragraph (2) with respect to such bond.</text>
</paragraph><paragraph id="idDE3A9ED6742A42F1A9EA37C1926CE127"><enum>(2)</enum><header>Maximum
term</header><text>During each calendar month, the Secretary shall determine
the maximum term permitted under this paragraph for bonds issued during the
following calendar month. Such maximum term shall be the term which the
Secretary estimates will result in the present value of the obligation to repay
the principal on the bond being equal to 50 percent of the face amount of such
bond. Such present value shall be determined without regard to the requirements
of subsection (l)(6) and using as a discount rate the average annual interest
rate of tax of tax-exempt obligations having a term of 10 years or more which
are issued during the month. If the term as so determined is not a multiple of
a whole year, such term shall be rounded to the next highest whole year.</text>
</paragraph></subsection><subsection id="id16A707F46C284F6983B06AB3BE52384D"><enum>(f)</enum><header>Limitation on
amount of bonds designated</header>
<paragraph id="id210BB548720B49C580C4D00064763A58"><enum>(1)</enum><header>National
limitation</header><text>There is a national clean energy coal bond limitation
of $1,000,000,000.</text>
</paragraph><paragraph id="id162F73C464E449D292E64181EF10132D"><enum>(2)</enum><header>Allocation by
secretary</header><text>The Secretary shall allocate the amount described in
paragraph (1) among qualified projects in such manner as the Secretary
determines appropriate, but shall reserve half of the amount allocated to
projects designed and operated to capture carbon dioxide emissions and to
isolate such emissions permanently from the atmosphere.</text>
</paragraph></subsection><subsection id="id85ADD50885D045849A6B437058E6260F"><enum>(g)</enum><header>Credit included
in gross income</header><text>Gross income includes the amount of the credit
allowed to the taxpayer under this section (determined without regard to
subsection (c)) and the amount so included shall be treated as interest
income.</text>
</subsection><subsection id="id5A47A69B9333496EB1E3902038947D5B"><enum>(h)</enum><header>Special rules
relating to expenditures</header>
<paragraph id="id07565F9F86D246C99689F73FEB521910"><enum>(1)</enum><header>In
general</header><text>An issue shall be treated as meeting the requirements of
this subsection if, as of the date of issuance, the qualified issuer reasonably
expects—</text>
<subparagraph id="id7ADDA963F846434FB49F1FBFF87BE8D0"><enum>(A)</enum><text>at least 95
percent of the proceeds from the sale of the issue are to be spent for 1 or
more qualified projects within the 5-year period beginning on the date of
issuance of the clean energy bond,</text>
</subparagraph><subparagraph id="idD6EE8A1326CB49F48D27C8CF3F96A6AD"><enum>(B)</enum><text>a binding
commitment with a third party to spend at least 10 percent of the proceeds from
the sale of the issue will be incurred within the 6-month period beginning on
the date of issuance of the clean energy bond or, in the case of a clean energy
bond the proceeds of which are to be loaned to 2 or more qualified borrowers,
such binding commitment will be incurred within the 6-month period beginning on
the date of the loan of such proceeds to a qualified borrower, and</text>
</subparagraph><subparagraph id="id3023D456376248C597D6723D2BF6F95A"><enum>(C)</enum><text>such projects
will be completed with due diligence and the proceeds from the sale of the
issue will be spent with due diligence.</text>
</subparagraph></paragraph><paragraph id="id0C075F3647874FB8B0DA6DA6ED4B9B81"><enum>(2)</enum><header>Extension of
period</header><text>Upon submission of a request prior to the expiration of
the period described in paragraph (1)(A), the Secretary may extend such period
if the qualified issuer establishes that the failure to satisfy the 5-year
requirement is due to reasonable cause and the related projects will continue
to proceed with due diligence.</text>
</paragraph><paragraph id="id87B2B8D2EC7B4DC09B897FA5176D19CE"><enum>(3)</enum><header>Failure to
spend required amount of bond proceeds within 5 years</header><text>To the
extent that less than 95 percent of the proceeds of such issue are expended by
the close of the 5-year period beginning on the date of issuance (or if an
extension has been obtained under paragraph (2), by the close of the extended
period), the qualified issuer shall redeem all of the nonqualified bonds within
90 days after the end of such period. For purposes of this paragraph, the
amount of the nonqualified bonds required to be redeemed shall be determined in
the same manner as under section 142.</text>
</paragraph></subsection><subsection id="id2118708C75984E4080526376A2C60984"><enum>(i)</enum><header>Special rules
relating to arbitrage</header><text>A bond which is part of an issue shall not
be treated as a clean energy coal bond unless, with respect to the issue of
which the bond is a part, the qualified issuer satisfies the arbitrage
requirements of section 148 with respect to proceeds of the issue.</text>
</subsection><subsection id="id8471D970F43B40C2AEAF6DD04DACE4C2"><enum>(j)</enum><header>Cooperative
electric company; qualified energy tax credit bond lender; governmental body;
qualified borrower</header><text>For purposes of this section—</text>
<paragraph id="idE5FA05DEE6B549C68EC483E855C3CB85"><enum>(1)</enum><header>Cooperative
electric company</header><text>The term <term>cooperative electric
company</term> means a mutual or cooperative electric company described in
section 501(c)(12) or section 1381(a)(2)(C), or a not-for-profit electric
utility which has received a loan or loan guarantee under the Rural
Electrification Act.</text>
</paragraph><paragraph id="id65274CC2AF48466FB5A6334A8BBE7DBC"><enum>(2)</enum><header>Clean energy
bond lender</header><text>The term <term>clean energy bond lender</term> means
a lender which is a cooperative which is owned by, or has outstanding loans to,
100 or more cooperative electric companies and is in existence on February 1,
2002, and shall include any affiliated entity which is controlled by such
lender.</text>
</paragraph><paragraph id="id61B9545DB1474960BAC891795AF177DB"><enum>(3)</enum><header>Governmental
body</header><text>The term <term>governmental body</term> means any State,
territory, possession of the United States, the District of Columbia, Indian
tribal government, and any political subdivision.</text>
</paragraph><paragraph id="idE26C8E6AC99B443A894CFFDAD8474865"><enum>(4)</enum><header>Qualified
issuer</header><text>The term <term>qualified issuer</term> means—</text>
<subparagraph id="id4EB0AB22DF4A410ABFC51FA409FD6E6A"><enum>(A)</enum><text>a clean energy
bond lender,</text>
</subparagraph><subparagraph id="id98C359C36FF649C3BDCBB78E620709F2"><enum>(B)</enum><text>a cooperative
electric company, or</text>
</subparagraph><subparagraph id="idE84E2F911C214C26A24B0DC3C3A5BDF4"><enum>(C)</enum><text>a governmental
body.</text>
</subparagraph></paragraph><paragraph id="idEB96EB21BCC3484DAA42818D046DE077"><enum>(5)</enum><header>Qualified
borrower</header><text>The term <term>qualified borrower</term> means—</text>
<subparagraph id="id245AF532341B4950B0B9DF8457181FEA"><enum>(A)</enum><text>a mutual or
cooperative electric company described in section 501(c)(12) or 1381(a)(2)(C),
or</text>
</subparagraph><subparagraph id="id11693E790F204B06A04686EA99E4411E"><enum>(B)</enum><text>a governmental
body.</text>
</subparagraph></paragraph></subsection><subsection id="id5BE5D0BC894442DA9E15EE340EEB0EF6"><enum>(k)</enum><header>Special rules
relating to pool bonds</header><text>No portion of a pooled financing bond may
be allocable to any loan unless the borrower has entered into a written loan
commitment for such portion prior to the issue date of such issue.</text>
</subsection><subsection id="id2BC45D76105D4B89A786167C449F55CF"><enum>(l)</enum><header>Other
definitions and special rules</header><text>For purposes of this
section—</text>
<paragraph id="idA21A31C87A924FE895FBE2B34A806B4E"><enum>(1)</enum><header>Bond</header><text>The
term <term>bond</term> includes any obligation.</text>
</paragraph><paragraph id="id2193700AA5A74F4FA50C89D378CC248C"><enum>(2)</enum><header>Pooled
financing bond</header><text>The term <term>pooled financing bond</term> shall
have the meaning given such term by section 149(f)(4)(A).</text>
</paragraph><paragraph id="id392F2972A99C40DBBBB2001B8FAD5D9A"><enum>(3)</enum><header>Partnership; s
corporation; and other pass-thru entities</header>
<subparagraph id="id771053B82AED4C33A2BDD3EE91B9F063"><enum>(A)</enum><header>In
general</header><text>Under regulations prescribed by the Secretary, in the
case of a partnership, trust, S corporation, or other pass-thru entity, rules
similar to the rules of section 41(g) shall apply with respect to the credit
allowable under subsection (a).</text>
</subparagraph><subparagraph id="idBC70DDE95DC04347852D93BFAED3468C"><enum>(B)</enum><header>No basis
adjustment</header><text>Rules similar to the rules under section 1397E(i)(2)
shall apply.</text>
</subparagraph></paragraph><paragraph id="id34F00C6451D24EA3A6F5A33A6A861471"><enum>(4)</enum><header>Bonds held by
regulated investment companies</header><text>If any clean energy coal bond is
held by a regulated investment company, the credit determined under subsection
(a) shall be allowed to shareholders of such company under procedures
prescribed by the Secretary.</text>
</paragraph><paragraph id="id0D3D04E8EB644F8686231F60737B4FD7"><enum>(5)</enum><header>Treatment for
estimated tax purposes</header><text>Solely for purposes of sections 6654 and
6655, the credit allowed by this section to a taxpayer by reason of holding a
clean energy coal bond on a credit allowance date shall be treated as if it
were a payment of estimated tax made by the taxpayer on such date.</text>
</paragraph><paragraph id="idCF0BDA0CA2BD4EC69B8C48C9C4DC0B0F"><enum>(6)</enum><header>Ratable
principal amortization required</header><text>A bond shall not be treated as a
clean energy coal bond unless it is part of an issue which provides for an
equal amount of principal to be paid by the qualified issuer during each
calendar year that the issue is outstanding.</text>
</paragraph><paragraph id="idDF71FA6BFD2747C6A82E51402ADCC3F6"><enum>(7)</enum><header>Reporting</header><text>Issuers
of clean energy coal bonds shall submit reports similar to the reports required
under section 149(e).</text>
</paragraph></subsection><subsection id="id3EB6F66F04C6444280663BD9752C7D86"><enum>(m)</enum><header>Termination</header><text>This
section shall not apply with respect to any bond issued after December 31,
2010.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id475173371EA74C10A0037A96D101EB93"><enum>(b)</enum><header>Reporting</header><text>Subsection
(d) of section 6049 of the Internal Revenue Code of 1986 (relating to returns
regarding payments of interest) is amended by adding at the end the following
new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id704AE44818424636BABF16726C4E1B97" style="OLC">
<paragraph id="idE9A3AFD32D344B408175E02FE9EEBC94"><enum>(9)</enum><header>Reporting of
credit on clean energy coal bonds</header>
<subparagraph id="id820B5AB1AE1E48C4BE1B2EAFFCE0FB4E"><enum>(A)</enum><header>In
general</header><text>For purposes of subsection (a), the term
<term>interest</term> includes amounts includible in gross income under section
54A(g) and such amounts shall be treated as paid on the credit allowance date
(as defined in section 54A(b)(4)).</text>
</subparagraph><subparagraph id="idDBE09AE419C744F490B8E3CE789B85FE"><enum>(B)</enum><header>Reporting to
corporations, etc</header><text>Except as otherwise provided in regulations, in
the case of any interest described in subparagraph (A), subsection (b)(4) shall
be applied without regard to subparagraphs (A), (H), (I), (J), (K), and (L)(i)
of such subsection.</text>
</subparagraph><subparagraph id="id9D8D3F2109A1481A92CFD2A1E0F30F70"><enum>(C)</enum><header>Regulatory
authority</header><text>The Secretary may prescribe such regulations as are
necessary or appropriate to carry out the purposes of this paragraph, including
regulations which require more frequent or more detailed
reporting.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id7ADD49CEA4DF49998010BAD70E0A24C1"><enum>(c)</enum><header>Clerical
amendment</header><text>The table of sections for subpart H of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by
adding at the end the following new item:</text>
<quoted-block id="id55235EC8BFCC48B488EE185E3494230D" style="OLC">
<toc>
<toc-entry level="section">Sec. 54A. Credit to holders of clean
energy coal
bonds.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id751538837ECD4063A3D4BCBB7E84F093"><enum>(d)</enum><header>Issuance of
regulations</header><text>The Secretary of the Treasury shall issues
regulations required under section 54A of the Internal Revenue Code of 1986 (as
added by this section) not later than 120 days after the date of the enactment
of this Act.</text>
</subsection><subsection id="idDF6DBF9A593E443084013B1EDDC79ED3"><enum>(e)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to bonds
issued after December 31, 2005.</text>
</subsection></section><section id="id78744B8881874B739571F926BC504D1C"><enum>342.</enum><header>Extension and
expansion of qualifying advanced coal project credit</header>
<subsection id="id0B222B0A4B224B40A213C52EB00C4D95"><enum>(a)</enum><header>Expanding
aggregate credits</header><text>Section 48A(d)(3)(A) of the Internal Revenue
Code of 1986 (relating to aggregate credits) is amended by striking
<quote>$1,300,000,000</quote> and inserting
<quote>$2,300,000,000</quote>.</text>
</subsection><subsection id="id20BAB1A7F3B9407F915E0997C332A166"><enum>(b)</enum><header>Authorization
of Additional Integrated Gasification Combined Cycle
Projects</header><text>Subparagraph (B) of section 48A(d)(3) of the Internal
Revenue Code of 1986 (relating to aggregate credits) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="id101E572627824938A9AFC059B1C0428C" style="OLC">
<subparagraph id="id60913AD95483428C9DB90AF969DA2DBB"><enum>(B)</enum><header>Particular
projects</header><text>Of the dollar amount in subparagraph (A), the Secretary
is authorized to certify—</text>
<clause id="id6C3FAB72411A4BF393318A40532B1472"><enum>(i)</enum><text>$800,000,000 for
integrated gasification combined cycle projects the application for which is
submitted during the period described in paragraph (2)(A)(i),</text>
</clause><clause id="id3C51D2F28B80425D9959DC177DF9C818"><enum>(ii)</enum><text>$500,000,000 for
projects which use other advanced coal-based generation technologies the
application for which is submitted during the period described in paragraph
(2)(A)(i), and</text>
</clause><clause id="id4FABF4B0AF4D42DF8A85EDCDC3C32D62"><enum>(iii)</enum><text>$1,000,000,000
for integrated gasification combined cycle projects the application for which
is submitted during the period described in paragraph (2)(A)(ii) and which are
designed and operated to capture carbon dioxide emissions and isolate such
emissions permanently from the
atmosphere.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id96E53ED8AC134E768614F55EA80A37A3"><enum>(c)</enum><header>Application
period for additional projects</header><text>Subparagraph (A) of section
48A(d)(2) of the Internal Revenue Code of 1986 (relating to certification) is
amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idB5772381AD3741BE8BE73D18E234B477" style="OLC">
<subparagraph id="idD52079BEF028453B899E9F2ED8FA13A2"><enum>(A)</enum><header>Application
period</header><text>Each applicant for certification under this paragraph
shall submit an application meeting the requirements of subparagraph (B). An
applicant may only submit an application—</text>
<clause id="id080FAEAB62F141ED8EFA7825FBD41B47"><enum>(i)</enum><text>for an allocation
from the dollar amount specified in clause (i) or (ii) of paragraph (3)(A)
during the 3-year period beginning on the date the Secretary establishes the
program under paragraph (1), and</text>
</clause><clause id="id65B121ADEAA54B12A867EEC434AE05F3"><enum>(ii)</enum><text>for an
allocation from the dollar amount specified in paragraph (3)(A)(iii) during the
3-year period beginning at the termination of the period described in clause
(i).</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idA29E283E5EA24C769B8889F41DFDBEF4"><enum>(d)</enum><header>Modification of
qualifying advanced coal project credit</header><text>Subparagraph (C) of
section 48A(e)(1) of the Internal Revenue Code of 1986 is amended by inserting
<quote>(300 megawatts in the case of projects using subbituminous or lignite as
a primary feedstock)</quote> after <quote>400 megawatts</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id71C306BC46094F17B4C15380F09F2262"><enum>(e)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect as if
included in the amendments made by section 1307 of the Energy Policy Act of
2005.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idF65687F3D8954817ADAB45354622EFC1"><enum>343.</enum><header>Expansion of
qualifying gasification project credit</header>
<subsection id="id8A0FC9DBF44449C78E527FF59BE077D4"><enum>(a)</enum><header>Increasing
credit limit</header><text>Section 48B(d)(1) of the Internal Revenue Code of
1986 is amended by striking <quote>$350,000,000</quote> and inserting
<quote>$1,000,000,000</quote>.</text>
</subsection><subsection id="id0009262E579A40E0975FB375EF2E562C"><enum>(b)</enum><header>Expansion</header><text>Section
48B(d)(3) of the Internal Revenue Code of 1986 is amended—</text>
<paragraph id="idBE3A501887554D548F92832A7F6BDF37"><enum>(1)</enum><text>by striking
<quote>and </quote> at the end of subparagraph (E),</text>
</paragraph><paragraph id="id38A26A775C3548F9B46FA64B20029D15"><enum>(2)</enum><text>by redesignating
subparagraph (F) as subparagraph (G), and</text>
</paragraph><paragraph id="id76017A66984942EB98CC65AD5B02FE10"><enum>(3)</enum><text>by inserting
after subparagraph (E) the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="id2965BEB3CB4741B2B63B959AAFE66F31" style="OLC">
<subparagraph id="id9DBE3AED178E4F5D95EF6EA4BFB35756"><enum>(F)</enum><text>the proposed
project is designed and operated to capture carbon dioxide emissions and
isolate such emissions permanently from the atmosphere,
and</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id71D30CBB6016433F84FCB7AEA9BBCD94"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect as if
included in the amendments made by section 1307 of the Energy Policy Act of
2005.</text>
</subsection></section><section id="idAF668DCBA2764A9AA462DE95C24FCEAF"><enum>344.</enum><header>Coal-to-liquid
and biomass transportation fuels</header>
<subsection id="id71FFBB06A6BD4B61B2BC17B5E6738188"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="id79C0A7A54C994468A1B414ABD3F81281"><enum>(1)</enum><header>Administrator</header><text>The
term <term>Administrator</term> means the Administrator of the Environmental
Protection Agency.</text>
</paragraph><paragraph id="idABD75BBD93B347E1B3BED763C89898D2"><enum>(2)</enum><header>Biomass</header><text>The
term <term>biomass</term> has the meaning given the term in section 203(b) of
the Energy Policy Act of 2005 (42 U.S.C. 15852(b)).</text>
</paragraph><paragraph id="id752105ECBA404417AD3595C27339554F"><enum>(3)</enum><header>Coal-to-liquid</header><text>The
term <term>coal-to-liquid</term> means—</text>
<subparagraph id="id240C2642AAF1438B9125BECE3DC3F4F1"><enum>(A)</enum><text>with respect to a
process or technology, the use of coal resources of the United States to
produce a liquid transportation fuel, including diesel and jet fuels;
and</text>
</subparagraph><subparagraph id="idB6FEE74C5047412AAA946943F54A57E3"><enum>(B)</enum><text>with respect to a
facility, the use at the facility of a process or technology described in
subparagraph (A).</text>
</subparagraph></paragraph><paragraph id="id5E82506BEF644BF89A10D98BAF868B4D"><enum>(4)</enum><header>Secretary</header><text>The
term <term>Secretary</term> means the Secretary of Energy.</text>
</paragraph></subsection><subsection id="id542005864976482C97436FFA3DB3398B"><enum>(b)</enum><header>Research
program</header>
<paragraph id="idDB9FF330BFFD4EF8B57422CFD25164E0"><enum>(1)</enum><header>In
general</header><text>The Secretary, in coordination with the Administrator and
the Secretary of Defense and in consultation with the States, shall
periodically conduct assessments of the costs and benefits of coal-to-liquid
and biomass programs in the United States, including an analysis of—</text>
<subparagraph id="id729C10C8B2BA4416B38E57F2203AB5F4"><enum>(A)</enum><text>technology
relating to those programs;</text>
</subparagraph><subparagraph id="idA23137D3A70F4D6CB6F891D2E27E8B95"><enum>(B)</enum><text>the potential
effects of those programs on—</text>
<clause id="idAA39F01E58EE4561B013142463AB01A1"><enum>(i)</enum><text>air
and water quality;</text>
</clause><clause id="id611513214F4E45E5A59F3D9CE7A8B41A"><enum>(ii)</enum><text>the public
health;</text>
</clause><clause id="idDC220894596545568F536E98B423581D"><enum>(iii)</enum><text>greenhouse gas
emissions and the permanent sequestration of those emissions; and</text>
</clause><clause id="id8FAAE3FF1FA842ADBF7FA441C1F185B9"><enum>(iv)</enum><text>the
economy;</text>
</clause></subparagraph><subparagraph id="id7EFA33778CA847EBABDD459B0B466832"><enum>(C)</enum><text>levels of
investment required to make commercial coal-to-liquid and biomass production
economical; and</text>
</subparagraph><subparagraph id="id14ACC30707824E42A85715079B936B3F"><enum>(D)</enum><text>the national
security impacts of various levels of coal-to-liquid and biomass production
during the 20-year period beginning on the date on which the initial assessment
is conducted.</text>
</subparagraph></paragraph><paragraph id="id45362B6981684B4CBD42A3F2724A792D"><enum>(2)</enum><header>Reports</header><text>Not
later than 1 year after the date of enactment of this Act, and every 2 years
thereafter, the Secretary shall submit to Congress a report describing the
results of the applicable analysis under paragraph (1), including
recommendations for the appropriate level of development of coal-to-liquid and
biomass programs, and programs using any other appropriate resources, to
promote a reduction in greenhouse gas emissions from the quantity of those
emissions that would have occurred using only petroleum-based fuels.</text>
</paragraph><paragraph id="id6EE4B0135C1D4C9696812220C51EF59B"><enum>(3)</enum><header>Advisory
committee</header><text>The Secretary shall establish an advisory committee to
advise the Secretary in carrying out analyses and reports under this
subsection.</text>
</paragraph><paragraph id="idC16368085F024F72A8B8890936ED6406"><enum>(4)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to the
Secretary to carry out this subsection $100,000,000, to remain available until
expended.</text>
</paragraph></subsection><subsection id="ID794379756e3e44439fa8eefaadd5b1a9"><enum>(c)</enum><header>Refinery
diversification grant program</header>
<paragraph id="id74DD5123336245F3973B1AD31561BF7E"><enum>(1)</enum><header>Establishment</header><text>Not
later than 1 year after the date on which the initial report under subsection
(b)(2) is submitted, the Secretary, in consultation with the Administrator, may
establish a program under which the Secretary may provide not more than 6
competitive grants to support the commercial deployment in the United States of
coal-to-liquid refineries.</text>
</paragraph><paragraph id="idAC2CFA8D3A2C457383064DE6FE285A2C"><enum>(2)</enum><header>Eligible
projects</header><text>A project shall be eligible to receive a grant under
this subsection if, as determined by the Secretary—</text>
<subparagraph id="idAF62E648EE5E498AAF82823C8B062E79"><enum>(A)</enum><text>the purpose of
the project is to deploy in the United States a coal-to-liquid refinery;</text>
</subparagraph><subparagraph id="id6C1E13F28FE047F49D0565F615A232AB"><enum>(B)</enum><text>the project
supports the diversification of coal-producing regions and coal ranks
throughout the United States;</text>
</subparagraph><subparagraph id="id95A8671FF99D4EC8A46EEAF707A51241"><enum>(C)</enum><text>the developer of
the project would be financially viable without receiving a grant under this
subsection;</text>
</subparagraph><subparagraph id="id855B9808C8BE4112899E0D82992DC238"><enum>(D)</enum><text>the project site
has been identified;</text>
</subparagraph><subparagraph id="idD7EACFBDA74F4F149FC84C01C4B07D69"><enum>(E)</enum><text>a preliminary
feasibility study of the project has been completed;</text>
</subparagraph><subparagraph id="idE496D0031D5B477EAD6B823BBEB61AFA"><enum>(F)</enum><text>a long-term
source of coal has been identified and secured for the project; and</text>
</subparagraph><subparagraph id="id2749B7DD101F4F0CA444C1CA51517935"><enum>(G)</enum><text>the refinery that
is the subject of the project will—</text>
<clause id="id8A01E634E06B4E1CAB38EB543163CB57"><enum>(i)</enum><text>have a production
capacity of at least 12,000 barrels per day; and</text>
</clause><clause id="idE179C0BE897F41AC8594DB1CF4E7767C"><enum>(ii)</enum><text>be
designed and operated to capture carbon dioxide emissions and permanently
isolate those emissions from the atmosphere, including by the integration of
enhanced oil recovery or enhanced natural gas recovery.</text>
</clause></subparagraph></paragraph><paragraph id="id1D7FF15342B943D49215FF582F068187"><enum>(3)</enum><header>Use of
funds</header><text>A grant provided under this subsection shall be used to pay
the costs associated with deploying in the United States a coal-to-liquid
refinery, including the costs of preliminary engineering and engineering design
specifications for the refinery.</text>
</paragraph><paragraph id="idF6CA6FB4B4644429985F02BA6A5A211B"><enum>(4)</enum><header>Maximum
amount</header><text>The amount of a grant provided under this subsection shall
not exceed $50,000,000.</text>
</paragraph><paragraph id="id54FEBDD4360240938D24A5A5B676A478"><enum>(5)</enum><header>Reports</header><text>Not
later than 1 year after the date of enactment of this Act, and annually
thereafter until the date on which funds made available to carry out this
subsection are expended, the Secretary shall submit to Congress a report
describing the status of each project that received a grant under this
subsection during the preceding calendar year.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id140AB719688741B2BADC3452AA28A1C6"><enum>(6)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to the
Secretary to carry out this subsection $300,000,000, to remain available until
expended.</text>
</paragraph></subsection></section></subtitle><enum>IV</enum><header>Real government
leadership for clean and secure energy</header>
<subtitle id="id49BD26D205AC4ACCAFA9F3C53047218E"><enum>A</enum><header>Federal biofuels
and efficient vehicle use leadership</header>
<section id="ID35f612048b504d4e8457a84f2d80c487"><enum>401.</enum><header>Federal agency
ethanol-blended gasoline and biodiesel purchasing requirement</header>
<subsection id="IDb03dff0e0d034a9c94dc97c51cb98192"><enum>(a)</enum><header>In
general</header><text>Title III of the Energy Policy Act of 1992 is amended by
striking section 306 (42 U.S.C. 13215) and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="idC657C89E371E46229972EF014D836FD3" style="OLC">
<section id="IDcad8484635524ef7b2de2864ee82f2a5"><enum>306.</enum><header>Federal agency
ethanol-blended gasoline and biodiesel purchasing requirement</header>
<subsection id="IDbf86feffdb334d13b6b86d16c8600de1"><enum>(a)</enum><header>Ethanol-blended
gasoline</header><text>The head of each Federal agency shall ensure that, in
areas in which ethanol-blended gasoline is reasonably available at a generally
competitive price, the Federal agency purchases ethanol-blended gasoline
containing at least 10 percent ethanol, rather than gasoline that is not
ethanol-blended, for use in vehicles used by the agency that use
gasoline.</text>
</subsection><subsection id="ID5a9c7e6e255f4c46a8d3a287d98bea9a"><enum>(b)</enum><header>Biodiesel</header>
<paragraph id="ID2716bf41d9ae49beb50dff3a2947d767"><enum>(1)</enum><header>Definition of
biodiesel</header><text>In this subsection, the term <term>biodiesel</term> has
the meaning given the term in section 312(f).</text>
</paragraph><paragraph id="ID4143ef9599124db3ba720de4887bc13f"><enum>(2)</enum><header>Requirement</header><text>The
head of each Federal agency shall ensure that the Federal agency purchases, for
use in fueling fleet vehicles that use diesel fuel used by the Federal agency
at the location at which fleet vehicles of the Federal agency are centrally
fueled, in areas in which the biodiesel-blended diesel fuel described in
subparagraphs (A) and (B) is available at a generally competitive price—</text>
<subparagraph id="IDe0f010e5bf3b49f7a07d898ba11f136a"><enum>(A)</enum><text>as of the date
that is 5 years after the date of enactment of this paragraph,
biodiesel-blended diesel fuel that contains at least 20 percent biodiesel,
rather than diesel fuel that is not biodiesel-blended; and</text>
</subparagraph><subparagraph id="IDa76b81d59b4c4f6c8c69d4877aadf5e4"><enum>(B)</enum><text>as of the date
that is 10 years after the date of enactment of this paragraph,
biodiesel-blended diesel fuel that contains at least 80 percent biodiesel,
rather than diesel fuel that is not biodiesel-blended.</text>
</subparagraph></paragraph><paragraph id="IDe40084a5842143eeba4369640be367a3"><enum>(3)</enum><header>Requirement of
Federal law</header><text>This subsection shall not be considered a requirement
of Federal law for the purposes of section 312.</text>
</paragraph></subsection><subsection id="IDb652099dcd47470ea194f1d5c15966dc"><enum>(c)</enum><header>Exemption</header><text>This
section does not apply to fuel used in vehicles excluded from the definition of
<quote>fleet</quote> by subparagraphs (A) through (H) of section
301(9).</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="IDba05874daeaa41449270e62811dabcd7"><enum>402.</enum><header>Use of the
existing flexible fuel vehicle fleet of the Federal government</header>
<subsection id="ID908e9ab7655c4f9dbe4537fc2861bdbd"><enum>(a)</enum><header>Use of
alternative fuels by flexible fuel vehicles</header><text>Section 400AA(a)(3)
of the Energy Policy and Conservation Act (42 U.S.C. 6374(a)(3)) is amended by
striking subparagraph (E) and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="id4134E21BB6614331918F79155085E6EA" style="OLC">
<subparagraph id="ID31a13f120f00465fbb9b1bb1705f4b81"><enum>(E)</enum><clause commented="no" display-inline="yes-display-inline" id="idA501AF89FB0E40D585D7B762609FA229"><enum>(i)</enum><text>Flexible fuel vehicles
acquired pursuant to this section shall be operated on alternative fuels unless
the Secretary determines that an agency qualifies for a waiver of that
requirement for vehicles operated by the agency in a particular geographic area
in which—</text>
<subclause id="idC7AA9A2179FD42BF9B43FDC5FCE2E37C" indent="up1"><enum>(I)</enum><text>the alternative fuel otherwise required
to be used in the vehicle is not reasonably available to retail purchasers of
the fuel, as certified to the Secretary by the head of the agency; or</text>
</subclause><subclause id="idD6CB78161A3E4960AD4D8C714990BB0A" indent="up1"><enum>(II)</enum><text>the cost of the alternative fuel
otherwise required to be used in the vehicle is unreasonably more expensive
compared to gasoline, as certified to the Secretary by the head of the
agency.</text>
</subclause></clause><clause id="idF6F03B37CD984D0F983BD174C4196002" indent="up1"><enum>(ii)</enum><text>The Secretary shall monitor
compliance with this subparagraph by all agency fleets and shall submit
annually to Congress a report that—</text>
<subclause id="id01BBD7486E8C4035B8FE6C518A17D292"><enum>(I)</enum><text>describes the extent to which the
requirements of this subparagraph are being achieved; and</text>
</subclause><subclause id="id60B32D3261024A0A928AE33710450856"><enum>(II)</enum><text>includes information on annual
reductions achieved from the use of petroleum-based fuels and the problems, if
any, encountered in acquiring alternative
fuels.</text>
</subclause></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID44fcda0e5b81446d9b20aa1b7198391c"><enum>(b)</enum><header>Alternative
compliance and flexibility</header><text>The Energy Policy Act of 1992 is
amended by striking section 514 (42 U.S.C. 13263a) and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="id0B87A1775AA047D69300FB13EF2201F1" style="OLC">
<section id="id43039110F5864A109A76F0B17AA9FE11"><enum>514.</enum><header>Alternative
compliance</header>
<subsection id="ID9b698aa920a34e2385a601b16a289db8"><enum>(a)</enum><header>Application for
waiver</header><text>Any head of a Federal agency described in section
303(b)(3), any covered person subject to section 501, and any State subject to
section 507(o) may petition the Secretary for a waiver of the applicable
requirements of section 303, 501, or 507(o).</text>
</subsection><subsection id="ID847e3b3aade543a3a0297cdde96165a0"><enum>(b)</enum><header>Grant of
waiver</header><text>The Secretary may grant a waiver of the requirements of
section 303, 501, or 507(o) upon a showing that the fleet owned, operated,
leased, or otherwise controlled by the Federal agency, State, or covered
person—</text>
<paragraph id="IDe7ee04a9feac4e4b97a03d63c1b3c9d7"><enum>(1)</enum><text>will achieve a
reduction in its annual consumption of petroleum fuels equal to—</text>
<subparagraph id="idF134FE7B69FF4A4EA5B971FEC143F215"><enum>(A)</enum><text>the reduction in
consumption of petroleum that would result from 100 percent compliance with
fuel use requirements in section 303 or 501, as appropriate; or</text>
</subparagraph><subparagraph id="idD76BCD8A895D45E5B8A30D4B985549AD"><enum>(B)</enum><text>for entities
covered under section 507(o), a reduction equal to the covered entity's
consumption of alternative fuels if all its alternative fuel vehicles given
credit under section 508 were to use alternative fuel 100 percent of the time;
and</text>
</subparagraph></paragraph><paragraph id="ID1454d8978c92424fa16a88bfa6d2f9f8"><enum>(2)</enum><text>is in compliance
with all applicable vehicle emission standards established by the Administrator
under the Clean Air Act (42 U.S.C. 7401 et seq.).</text>
</paragraph></subsection><subsection id="ID4e25b794a25449d69d8c265230b1a1d2"><enum>(c)</enum><header>Revocation of
waiver</header><text>The Secretary shall revoke any waiver granted under this
section if the Federal agency, State, or covered person fails to comply with
subsection
(b).</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section id="ID4c80a1f95f9f4967866e30b44fa18c4d"><enum>403.</enum><header>Standards for
executive agency automobiles</header><text display-inline="no-display-inline">Section 32917 of title 49, United States
Code, is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id2E0C7B163E7D4CF396F42114E648CFBA" style="USC">
<section id="IDb0747e95483b40238e172ad1c951376c"><enum>32917.</enum><header>Standards
for executive agency automobiles</header>
<subsection id="ID7fc4cbbf6b6b42728dfcf52940a5e73d"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="IDa2332492bad846669d556f46ad851b2a"><enum>(1)</enum><header>Automobile</header><text>The
term <term>automobile</term> does not include any vehicle designed for
combat-related missions, law enforcement work, or emergency rescue work.</text>
</paragraph><paragraph id="IDaebc5fa3f5164f128d88562c190d030c"><enum>(2)</enum><header>Executive
agency</header><text>The term <term>Executive agency</term> has the meaning
given that term in section 105 of title 5.</text>
</paragraph><paragraph id="ID32493efe9788410983c5a9d5034663b1"><enum>(3)</enum><header>New
automobile</header><text>The term <term>new automobile</term>, with respect to
the fleet of automobiles of an executive agency, means an automobile that is
leased for at least 60 consecutive days or bought, by or for the Executive
agency, after September 30, 2004.</text>
</paragraph></subsection><subsection id="IDe99ea9fc8ef94f079b6c5ee61e2eabe6"><enum>(b)</enum><header>Baseline
average fuel economy</header>
<paragraph id="ID62f29542d149424eaabdc9fc45df9ad9"><enum>(1)</enum><header>In
general</header><text>In accordance with guidance issued under subsection (e),
the head of each Executive agency shall calculate, for all automobiles in the
Executive agency’s fleet of automobiles that were leased or bought as new
vehicles in fiscal year 2004, the average fuel economy for the
automobiles.</text>
</paragraph><paragraph id="ID390ad83c49114752831f13dce6d9a44b"><enum>(2)</enum><header>Baseline</header><text>For
purposes of this section, the average fuel economy as calculated in paragraph
(1) shall be the baseline average fuel economy for the Executive agency’s fleet
of automobiles.</text>
</paragraph></subsection><subsection id="ID72a99db6b586438abc40304080470d21"><enum>(c)</enum><header>Increase of
average fuel economy</header><text>The head of an Executive agency shall manage
the procurement of automobiles for that Executive agency so that not later than
September 30, 2008, the average fuel economy of the new automobiles in the
Executive agency’s fleet of automobiles is not less than 3 miles per gallon
higher than the baseline average fuel economy determined under subsection (b)
for that fleet.</text>
</subsection><subsection id="IDbb2d81787f7f4a1bbc3bc594d16b925f"><enum>(d)</enum><header>Fuel
efficiency</header><text>The head of an Executive agency shall ensure that each
new automobile procured by the Executive agency is as fuel efficient as
practicable.</text>
</subsection><subsection id="ID9998e0b7f77946b689beb985bda59daf"><enum>(e)</enum><header>Calculation of
average fuel economy</header><text>The Secretary of Transportation shall issue
guidance to carry out this section, including guidance for the calculation of
average fuel
economy.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="ID3C93233486E34D36A5E24EE952115B75"><enum>404.</enum><header>Federal fleet
conservation requirements</header>
<subsection id="ID71EAA99743E24E86BD282FC42C274F4F"><enum>(a)</enum><header>In
General</header><text>Part J of title IV of the <act-name parsable-cite="EPCA">Energy Policy and Conservation Act</act-name> (42 U.S.C.
6374 et seq.) is amended by adding at the end the following:</text>
<quoted-block act-name="Energy Policy and Conservation Act" id="IDBA64F02E30564EC0ADC3CC68C96F39AE" style="OLC">
<section id="ID71DDF0906D784CA4AB219E902205A505"><enum>400FF.</enum><header>Federal
fleet conservation requirements</header>
<subsection id="ID735BAF4280354D99BCC4D6A2F544FFBC"><enum>(a)</enum><header>Mandatory
Reduction in Petroleum Consumption</header>
<paragraph id="IDD8293B4D21884C18A307073EAD73D553"><enum>(1)</enum><header>In
general</header><text>The Secretary shall issue regulations for Federal fleets
subject to section 400AA requiring that each Federal agency—</text>
<subparagraph id="id2B8CF6FDF42B48BD948593E305B16CF4"><enum>(A)</enum><text>not later than
October 1, 2012, achieve at least a 20 percent reduction in petroleum
consumption, as calculated from the baseline established by the Secretary for
fiscal year 1999; and</text>
</subparagraph><subparagraph id="id27C5C7A0FDC548B58FB8D27103E667E1"><enum>(B)</enum><text>not later than
October 1, 2020, achieve at least a 40 percent reduction in petroleum
consumption, as calculated from the baseline established by the Secretary for
fiscal year 1999.</text>
</subparagraph></paragraph><paragraph id="ID18C4AECC42F24978A2E5B7EEAF7FBBC1"><enum>(2)</enum><header>Plan</header>
<subparagraph id="ID0DABD5D41A4C4E53AF0F437B9480A8B7"><enum>(A)</enum><header>Requirement</header><text>The
regulations shall require each Federal agency to develop a plan to meet the
required petroleum reduction level.</text>
</subparagraph><subparagraph id="IDD7BED0C8D38F461A95669FE426C08F1A"><enum>(B)</enum><header>Measures</header><text>The
plan may allow an agency to meet the required petroleum reduction level
through—</text>
<clause id="IDFE712725465C40BC8B1930EDDFA75B40"><enum>(i)</enum><text>the use of
alternative fuels;</text>
</clause><clause id="ID64A36245211D4C23880FDB00FB48AE3E"><enum>(ii)</enum><text>the acquisition
of vehicles with higher fuel economy, including hybrid vehicles;</text>
</clause><clause id="IDC4ED58359C5847ACBC807139F395CEC6"><enum>(iii)</enum><text>the
substitution of cars for light trucks;</text>
</clause><clause id="ID7A1DC3BB907A416397C432013D5D6DC0"><enum>(iv)</enum><text>an increase in
vehicle load factors;</text>
</clause><clause id="IDB3645596F8584DFFB1645D8D134238C2"><enum>(v)</enum><text>a
decrease in vehicle miles traveled;</text>
</clause><clause id="ID58970984A55F42CFA222D4FB7A836637"><enum>(vi)</enum><text>a decrease in
fleet size; and</text>
</clause><clause id="ID27CEA9FF2CBF4279ADFBCCFDC00861DA"><enum>(vii)</enum><text>other
measures.</text>
</clause></subparagraph><subparagraph id="ID8F5169A813DC4423B5B436F5D8447E73"><enum>(C)</enum><header>Replacement
tires</header><text>The regulations shall include a requirement that each
Federal agency purchase energy-efficient replacement tires for the respective
fleet vehicles of the agency.</text>
</subparagraph></paragraph></subsection><subsection id="IDB8FC42B94CF64333852F16D3723649E4"><enum>(b)</enum><header>Federal
Employee Incentive Programs for Reducing Petroleum Consumption</header>
<paragraph id="ID4B6CB186E4FC45C5883B5AD2D45FD05A"><enum>(1)</enum><header>In
general</header><text>Each Federal agency shall actively promote incentive
programs that encourage Federal employees and contractors to reduce petroleum
through the use of practices such as—</text>
<subparagraph id="IDC230EC562CBF4608B24472B22F147E2A"><enum>(A)</enum><text>telecommuting;</text>
</subparagraph><subparagraph id="ID15EAB1DB9A40438DB8823B89C6E424EA"><enum>(B)</enum><text>public
transit;</text>
</subparagraph><subparagraph id="IDE8F868420CBA4B9D9C3F469A3EE1F575"><enum>(C)</enum><text>carpooling;
and</text>
</subparagraph><subparagraph id="ID649F564F536642A1B8BC5CD7E687B0D9"><enum>(D)</enum><text>bicycling.</text>
</subparagraph></paragraph><paragraph id="ID93AC33644B87422F859897DD2A07256C"><enum>(2)</enum><header>Monitoring and
support for incentive programs</header><text>The Administrator of the General
Services Administration, the Director of the Office of Personnel Management,
and the Secretary of the Department of Energy shall monitor and provide
appropriate support to agency programs described in paragraph
(1).</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID19AE5C9246944B8FBCBCDA778A3814B0"><enum>(b)</enum><header>Table of
Contents Amendment</header><text>The table of contents of the
<act-name parsable-cite="EPCA">Energy Policy and Conservation Act</act-name>
(42 U.S.C. prec. 6201) is amended by adding at the end of the items relating to
part J of title III the following:</text>
<quoted-block act-name="Energy Policy and Conservation Act" display-inline="no-display-inline" id="IDAD5C6939D38D4DCC9BB60D4807F2A77D" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 400FF. Federal fleet conservation
requirements</toc-entry>
</toc>
<after-quoted-block></after-quoted-block></quoted-block>
</subsection></section></subtitle><subtitle id="idEFD2768017F649E7AE44AA82F95E9D42"><enum>B</enum><header>Federal clean and
efficient energy leadership</header>
<section id="ID6442dab98bc843829ba5d7f72f8b0c9a"><enum>411.</enum><header>Federal
leadership on clean energy purchasing</header><text display-inline="no-display-inline">Section 203 of the Energy Policy Act of 2005
(42 U.S.C. 15852) is amended by striking subsection (a) and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="idE3D70DEB8D0442079F1A804B44B21B3A" style="OLC">
<subsection id="ID319648e2b8444d269cf397f8ebd9f838"><enum>(a)</enum><header>Requirement</header><text>The
President, acting through the Secretary, shall ensure that, of the total
quantity of electric energy the Federal Government consumes during any fiscal
year, the following amounts shall be renewable energy:</text>
<paragraph id="ID91455df4282d44d1877aac232d768d10"><enum>(1)</enum><text>Not less than 5
percent in each of fiscal years 2008 and 2009.</text>
</paragraph><paragraph id="IDf64a4a28b8be449aaa26907e43fab324"><enum>(2)</enum><text>Not less than 7.5
percent in each of fiscal years 2010 through 2012.</text>
</paragraph><paragraph id="ID9146a934fc9b40a28075af9393e4e3b9"><enum>(3)</enum><text>Not less than 10
percent in fiscal year 2013 and each fiscal year
thereafter.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="id9F8988C65F3440E5B8207A86F79BFEFA"><enum>412.</enum><header>Clean and
secure backup power at Federal facilities</header><text display-inline="no-display-inline">Not later than 1 year after the date of
enactment of this Act, the Director of the Office of Management and Budget, the
Secretary of Defense, and the Secretary of Homeland Security shall jointly
promulgate regulations establishing requirements applicable to all Federal
agency procurement actions, and to any Federal funds being used, for the
purpose of buying or replacing emergency backup power or off-grid energy or
electricity sources, with a strong procurement preference for clean emergency
backup power or distributed or off-grid electricity generation or energy
storage units that—</text>
<paragraph id="id610B40BA3C0F4EC1B4D4BE75E68E325E"><enum>(1)</enum><text display-inline="yes-display-inline">emit no or very low air emissions during
use or the energy storage process, such as—</text>
<subparagraph id="id65AFC3BCA45546B48143ACBF67520F63"><enum>(A)</enum><text display-inline="yes-display-inline">fuel cells;</text>
</subparagraph><subparagraph id="id50F93FBA1CAD4B9C93C8F69DD73CDB9D"><enum>(B)</enum><text display-inline="yes-display-inline">integrated solar panels and battery
systems; and</text>
</subparagraph><subparagraph id="id0A3CBBFEFC4C4F0AAAF4D141853B988D"><enum>(C)</enum><text display-inline="yes-display-inline">pumped hydroelectric storage; and</text>
</subparagraph></paragraph><paragraph id="idFB4BB731F1AF4460A2963C5F6783DCAD"><enum>(2)</enum><text display-inline="yes-display-inline">to the extent practicable, do not depend
primarily on fossil fuel or fossil fuel delivery systems.</text>
</paragraph></section><section id="IDb7b188d82cbc4af987e742a13d1406cc"><enum>413.</enum><header>Eliminating
vampire electronic devices</header>
<subsection id="idBE3197C06A6C4648861909B5DCBF09E3"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="id4A2B2B03119E43A0B2284D15D08565E0"><enum>(1)</enum><header>Agency</header>
<subparagraph id="idF98379B4C1AC434FB510B84786A7FBC2"><enum>(A)</enum><header>In
general</header><text>The term <quote>Agency</quote> has the meaning given the
term <quote>Executive agency</quote> in section 105 of title 5, United States
Code.</text>
</subparagraph><subparagraph commented="no" id="idDBEF6277CA5D4A5393A10BBB507A1363"><enum>(B)</enum><header>Inclusions</header><text>The
term <quote>Agency</quote> includes military departments, as the term is
defined in section 102 of title 5, United States Code.</text>
</subparagraph></paragraph><paragraph id="ID954bd172100744bba69ae038e1e6c0d3"><enum>(2)</enum><header>Eligible
product</header><text>The term <quote>eligible product</quote> means a
commercially available, off-the-shelf product that—</text>
<subparagraph id="idFD6BF3E22C96438BA4F3C469964BF53D"><enum>(A)</enum><clause commented="no" display-inline="yes-display-inline" id="id73F4FBADCBD94176AC71E8BC89CB521A"><enum>(i)</enum><text>uses external standby
power devices; or</text>
</clause><clause id="id12926AD52DF64EB3B763BB406F3FB900" indent="up1"><enum>(ii)</enum><text>contains an internal standby power
function; and</text>
</clause></subparagraph><subparagraph id="id62EC108ED51244A392ED5FABAEF9EED3"><enum>(B)</enum><text>is included on
the list compiled under subsection (d).</text>
</subparagraph></paragraph></subsection><subsection id="idF3AA575DB3E04D1FB7AF118DA6C0765E"><enum>(b)</enum><header>Federal
purchasing requirement</header><text>Subject to subsection (c), if an Agency
purchases an eligible product, the Agency shall purchase—</text>
<paragraph id="idB3A066C7928B4539BC653CE7E2072FC2"><enum>(1)</enum><text>an eligible
product that uses not more than 1 watt in the standby power consuming mode of
the eligible product; or</text>
</paragraph><paragraph id="idA0FD8458E6884689AA935FA38A5D7A9B"><enum>(2)</enum><text>if an eligible
product described in paragraph (1) is not available, the eligible product with
the lowest available standby power wattage in the standby power consuming mode
of the eligible product.</text>
</paragraph></subsection><subsection id="ID148e9b3e622b44699d202c6595836f92"><enum>(c)</enum><header>Limitation</header><text>The
requirements of subsection (b) shall apply to a purchase by an Agency only
if—</text>
<paragraph id="id516D14CAD90A4FDE865C046A489A6EC8"><enum>(1)</enum><text>the lower-wattage
eligible product is—</text>
<subparagraph id="id5659C319E858459A9852554C75D3D165"><enum>(A)</enum><text>lifecycle
cost-effective; and</text>
</subparagraph><subparagraph id="idF875C2F34358403FA540B59D0D5680EF"><enum>(B)</enum><text>practicable;
and</text>
</subparagraph></paragraph><paragraph id="id562E5B154B9F449AA61360D8D05C624C"><enum>(2)</enum><text>the utility and
performance of the eligible product is not compromised by the lower wattage
requirement.</text>
</paragraph></subsection><subsection id="IDa29f74c9435446fb9b80da59489e97d2"><enum>(d)</enum><header>Eligible
products</header>
<paragraph id="id6D4BA139A27041648C9007B9399C8EEC"><enum>(1)</enum><header>In
general</header><text>The Secretary of Energy, in consultation with the
Secretary of Defense and the Administrator of General Services, shall compile a
list of cost-effective eligible products that shall be subject to the
purchasing requirements of subsection (b).</text>
</paragraph><paragraph id="idE8F543DD6B594595A3A15EBBAE36C261"><enum>(2)</enum><header>Energy star
program</header><text>The Administrator of the Environmental Protection Agency
shall incorporate the list of eligible products into the Energy Star program
established by section 324A(a) of the Energy Policy and Conservation Act (42
U.S.C. 6294a(a)).</text>
</paragraph></subsection></section><section id="ID4678B014B5A34CB8AF516BC7A5AF5C89"><enum>414.</enum><header>Promoting
Federal leadership in energy management</header>
<subsection id="idEB094593EBDD4FBCBD094DE6238D7BDF"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Not later than 1 year
after the date of enactment of this Act, the Director of the Office of Federal
Procurement Policy and the Under Secretary of Defense for Acquisition,
Technology, and Logistics shall, after consultation with private sector
voluntary standard setting organizations focused on increasing energy and
environmental performance, jointly promulgate revisions to the applicable
acquisition regulations—</text>
<paragraph commented="no" display-inline="no-display-inline" id="idF45D6A2F376140259E6FB9719EAF574E"><enum>(1)</enum><text>to direct any
Federal procurement executives involved in the acquisition, construction, or
major renovation (including contracting for the construction or major
renovation) of any building—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="idE0269E8B7C7F403C96E9C229C4FC8E95"><enum>(A)</enum><text>to employ
integrated design principles;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id3ABED412788F4E05BD7F53AFDD8DBBCF"><enum>(B)</enum><text>to improve site
selection for environmental and community benefits;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idD189C5DB421246E3A0D5F16014B70C8A"><enum>(C)</enum><text>to protect and
conserve water;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idE60E7FE66A5C4694922DEAA275CBEFB2"><enum>(D)</enum><text>to enhance indoor
environmental quality; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id1B4583DF73E34F2BAC45EE5351D5E309"><enum>(E)</enum><text>to reduce
environmental impacts of materials and waste flows;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id1437D4383C5A4E7DBA81D3B36BF30AD7"><enum>(2)</enum><text>to direct Federal
procurement executives involved in leasing buildings, to give preference to the
lease of buildings—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id5DF16553E036495BA60D929297F79BF0"><enum>(A)</enum><text>that are energy
efficient; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id71DE6307966F4EBE828D1944B9A67D50"><enum>(B)</enum><text>to which
contemporary high performance and sustainable design principles have been
applied during construction or renovation; and</text>
</subparagraph></paragraph><paragraph id="ID154a92c8fac5464d999f545a37ed7d6b"><enum>(3)</enum><text>that shall be
effective on promulgation of the regulations.</text>
</paragraph></subsection><subsection id="ID956ee75675284985a1257a39bacba47a"><enum>(b)</enum><header>Guidance</header><text>Not
later than 90 days after promulgation of the regulations under subsection (a),
the Director and the Under Secretary shall issue guidance to each Federal
procurement executive providing direction and instructions to renegotiate
existing buildings and facilities leases to obtain improvements in accordance
with this section.</text>
</subsection></section><section id="ID707742ae291149ee9a7ebaea44288184"><enum>415.</enum><header>Retention of
savings from energy savings performance contracts</header>
<subsection id="ID2469b4a85fe246c7978c933dce185306"><enum>(a)</enum><header>Retention of
savings</header><text>Section 546(c) of the National Energy Conservation Policy
Act (42 U.S.C. 8256(c)) is amended by striking paragraph (5).</text>
</subsection><subsection id="IDc62f33123eab48649608e72bcb37e36e"><enum>(b)</enum><header>Financing
flexibility</header><text>Section 801(a)(2) of the National Energy Conservation
Policy Act (42 U.S.C. 8287(a)(2)) is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="idD6DC8200581046F0B6699D9928F48616" style="OLC">
<subparagraph id="ID9dcd92e51ff246ec9aaf157c1d2edb7e"><enum>(E)</enum><header>Separate
contracts</header><text>In carrying out a contract under this title, a Federal
agency may—</text>
<clause id="ID5fe984ab2ac044faa36127c4e525981a"><enum>(i)</enum><text>enter into a
separate contract for energy services and conservation measures under the
contract; and</text>
</clause><clause id="ID80074d419c1e4b1cbb5282fe72a8da3c"><enum>(ii)</enum><text>provide all or
part of the financing necessary to carry out the
contract.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID1be815d3fba345d5a0776a05fd49805c"><enum>(c)</enum><header>Definition of
energy savings</header><text>Section 804(2) of the National Energy Conservation
Policy Act (42 U.S.C. 8287c(2)) is amended—</text>
<paragraph id="IDb477f5909a634643ad8b80b90b85dcf4"><enum>(1)</enum><text>by redesignating
subparagraphs (A), (B), and (C) as clauses (i), (ii), and (iii), respectively,
and indenting appropriately;</text>
</paragraph><paragraph id="IDd726e5f75f2047e2b2fdc9698f052906"><enum>(2)</enum><text>by striking
<quote>means a reduction</quote> and inserting <quote>means</quote>—</text>
<quoted-block display-inline="no-display-inline" id="id59C953A020A8490D883CBF6A3A6A9B58" style="OLC">
<subparagraph id="ID7d139b285fa041408ce848fdf6ea41ce"><enum>(A)</enum><text>a
reduction</text>
</subparagraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph id="IDc4f5c0d021d849058037c7c9c7578f48"><enum>(3)</enum><text>by striking the
period at the end and inserting a semicolon; and</text>
</paragraph><paragraph id="ID0c6fbdd1053746eaae78ba4b91917522"><enum>(4)</enum><text>by adding at the
end the following:</text>
<quoted-block display-inline="no-display-inline" id="id0CA01BAEE9B94F009F1E79E5F317CAB4" style="OLC">
<subparagraph id="IDdbe5ddbc32404fcfbb6a98601f8ffabd"><enum>(B)</enum><text>the increased
efficient use of an existing energy source by cogeneration or heat recovery and
installation of renewable energy systems;</text>
</subparagraph><subparagraph id="IDe2e0310bc037401a97ae2185ad1af2e7"><enum>(C)</enum><text>the sale or
transfer of electrical or thermal energy generated on-site, but in excess of
Federal needs, to utilities or non-Federal energy users; and</text>
</subparagraph><subparagraph id="ID87601c1b3ce8430ab264752a27a394e1"><enum>(D)</enum><text>the increased
efficient use of existing water sources in interior or exterior
applications.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="IDe8bc3b1c8321491d8a4bcf701da152f3"><enum>(d)</enum><header>Energy and cost
savings in nonbuilding applications</header>
<paragraph id="ID565d63e709cf4f468d899e1ce3c96c9d"><enum>(1)</enum><header>Definitions</header><text>In
this subsection:</text>
<subparagraph id="ID93770b50c2ac4568bc4b36b0e43455d0"><enum>(A)</enum><header>Nonbuilding
application</header><text>The term <term>nonbuilding application</term>
means—</text>
<clause id="ID30ba5a88fa504e1c804ed77e1dd0a6e0"><enum>(i)</enum><text>any
class of vehicles, devices, or equipment that is transportable under the power
of the applicable vehicle, device, or equipment by land, sea, or air and that
consumes energy from any fuel source for the purpose of—</text>
<subclause id="ID31e0357a19f849399f2d0b91a5e857a4"><enum>(I)</enum><text>that
transportation; or</text>
</subclause><subclause id="IDc3ff16eb24ff4c2b9fe08e7e7887f05b"><enum>(II)</enum><text>maintaining a
controlled environment within the vehicle, device, or equipment; and</text>
</subclause></clause><clause id="ID37d03926a02841a0be5aa055bea0e861"><enum>(ii)</enum><text>any
federally-owned equipment used to generate electricity or transport
water.</text>
</clause></subparagraph><subparagraph id="ID9379ea69f2d842248e8c58bd9bc6f987"><enum>(B)</enum><header>Secondary
savings</header>
<clause id="ID2640d27b3a504bd0bf9f7b555438c916"><enum>(i)</enum><header>In
general</header><text>The term <term>secondary savings</term> means additional
energy or cost savings that are a direct consequence of the energy savings that
result from the energy efficiency improvements that were financed and
implemented pursuant to an energy savings performance contract (as defined in
section 423(a)).</text>
</clause><clause id="ID977233264e6b4cf48319d5068d8ca150"><enum>(ii)</enum><header>Inclusions</header><text>The
term <term>secondary savings</term> includes—</text>
<subclause id="IDdd5fd6124cc047f587e3f618350d7919"><enum>(I)</enum><text>energy and cost
savings that result from a reduction in the need for fuel delivery and
logistical support;</text>
</subclause><subclause id="ID17a2e5167180408d96ca13afdfa338b1"><enum>(II)</enum><text>personnel cost
savings and environmental benefits; and</text>
</subclause><subclause id="ID5fa81f4b585d40ff9c586c98fe5826f1"><enum>(III)</enum><text>in the case of
electric generation equipment, the benefits of increased efficiency in the
production of electricity, including revenues received by the Federal
Government from the sale of electricity produced.</text>
</subclause></clause></subparagraph><subparagraph id="id4A635DE40C914FF7B41383D3FFB3F598"><enum>(C)</enum><header>Secretary</header><text>The
term <quote>Secretary</quote> means the Secretary of Energy.</text>
</subparagraph></paragraph><paragraph id="ID974260c43b3a4257b618dec58c339204"><enum>(2)</enum><header>Study</header>
<subparagraph id="ID9e06c99982384ae6817413d8a988dc7b"><enum>(A)</enum><header>In
general</header><text>As soon as practicable after the date of enactment of
this Act, the Secretary and the Secretary of Defense shall jointly conduct a
study of the potential for the use of energy savings performance contracts to
reduce energy consumption and provide energy and cost savings in nonbuilding
applications.</text>
</subparagraph><subparagraph id="IDf30de2a8654949b7b88d17cfb6a6c2c0"><enum>(B)</enum><header>Requirements</header><text>The
study under this subsection shall include—</text>
<clause id="ID75b2887c0eea4502bd0c3c5292046bde"><enum>(i)</enum><text>an
estimate of the potential energy and cost savings to the Federal Government,
including secondary savings and benefits, from increased efficiency in
nonbuilding applications;</text>
</clause><clause id="ID923d7672d6c546209d8a675097849aca"><enum>(ii)</enum><text>an
assessment of the feasibility of extending the use of energy savings
performance contracts to nonbuilding applications, including an identification
of any regulatory or statutory barriers to such use; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID1dedcc82bacc43b898d2f5689923dcf0"><enum>(iii)</enum><text>such
recommendations as the Secretary and the Secretary of Defense determine to be
appropriate.</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id0A1D376DE85842068629CE30ED3F095E"><enum>(3)</enum><header>Report</header><text>On
completion of the study under paragraph (2), the Secretary and the Secretary of
Defense shall submit to the President and the appropriate committees of
Congress a report that describes—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id49B5FACBBD6743759745018C30F2EB71"><enum>(A)</enum><text>the results of
the study; and</text>
</subparagraph></paragraph></subsection></section></subtitle><subtitle id="id0EBF1C3930984554A44F6D28C04E949C"><enum>C</enum><header>State, tribal,
and local clean and efficient energy leadership</header>
<section id="ID003a09b3d48640d49f8bde33ae18e644"><enum>421.</enum><header>Freedom from
fossil fuels (F4) bonds</header>
<subsection id="ID02bb454288504e71a6a4f6e6187122dd"><enum>(a)</enum><header>In
general</header><text>Subpart H of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 (relating to credits against tax), as amended by
this Act, is amended by adding at the end the following new section:</text>
<quoted-block display-inline="no-display-inline" id="id0CF66F15A06B4383AEA0B859CA4A9BAD" style="OLC">
<section id="IDc553184f19ee4575b302c8d363ca7d94"><enum>54B.</enum><header>Credit to
holders of freedom from fossil fuels (F4) bonds</header>
<subsection id="id241E43D54A5343628C0EBC5A532751FC"><enum>(a)</enum><header>Allowance of
credit</header><text>If a taxpayer holds a Freedom from Fossil Fuels (F4) bond
on 1 or more credit allowance dates of the bond occurring during any taxable
year, there shall be allowed as a credit against the tax imposed by this
chapter for the taxable year an amount equal to the sum of the credits
determined under subsection (b) with respect to such dates.</text>
</subsection><subsection id="id8233CB192C2F469596913AA8C69647A1"><enum>(b)</enum><header>Amount of
credit</header>
<paragraph id="id739FC0A5D13A4909AFA0C721B7158F9A"><enum>(1)</enum><header>In
general</header><text>The amount of the credit determined under this subsection
with respect to any credit allowance date for a Freedom from Fossil Fuels (F4)
bond is 25 percent of the annual credit determined with respect to such
bond.</text>
</paragraph><paragraph id="idA5C29D6AEAF3403C80F0CDD20A6486DC"><enum>(2)</enum><header>Annual
credit</header><text>The annual credit determined with respect to any Freedom
from Fossil Fuels (F4) bond is the product of—</text>
<subparagraph id="id9474ECC8BF7B49EEADC234F9AF349B2C"><enum>(A)</enum><text>the credit rate
determined by the Secretary under paragraph (3) for the day on which such bond
was sold, multiplied by</text>
</subparagraph><subparagraph id="id69EF61747F9C458985259A7F06A1B754"><enum>(B)</enum><text>the outstanding
face amount of the bond.</text>
</subparagraph></paragraph><paragraph id="id69DBB62652CF486CB2110BCDC38C7CA2"><enum>(3)</enum><header>Determination</header><text>For
purposes of paragraph (2), with respect to any Freedom from Fossil Fuels (F4)
bond, the Secretary shall determine daily or cause to be determined daily a
credit rate which shall apply to the first day on which there is a binding,
written contract for the sale or exchange of the bond. The credit rate for any
day is the credit rate which the Secretary or the Secretary’s designee
estimates will permit the issuance of Freedom from Fossil Fuels (F4) bonds with
a specified maturity or redemption date without discount and without interest
cost to the issuing governmental body.</text>
</paragraph><paragraph id="idD208BB52809F4C2ABB838C0D9094FC08"><enum>(4)</enum><header>Credit
allowance date</header><text>For purposes of this section, the term
<term>credit allowance date</term> means—</text>
<subparagraph id="idAC549699BFBF426A8E59ED1666967D84"><enum>(A)</enum><text>March 15,</text>
</subparagraph><subparagraph id="id4CC3D2EFA3204B7E8FF19F948E0E5CFF"><enum>(B)</enum><text>June 15,</text>
</subparagraph><subparagraph id="id0FE81527F1F34924BBE299102851EEB3"><enum>(C)</enum><text>September 15,
and</text>
</subparagraph><subparagraph id="idAC8B1C1865CC4027B5EEAE414B85F183"><enum>(D)</enum><text>December
15.</text>
</subparagraph><continuation-text continuation-text-level="paragraph">Such term
also includes the last day on which the bond is outstanding.</continuation-text></paragraph><paragraph id="id5A6F972C6EBB4080A0A561BB0F7ECFD3"><enum>(5)</enum><header>Special rule
for issuance and redemption</header><text>In the case of a bond which is issued
during the 3-month period ending on a credit allowance date, the amount of the
credit determined under this subsection with respect to such credit allowance
date shall be a ratable portion of the credit otherwise determined based on the
portion of the 3-month period during which the bond is outstanding. A similar
rule shall apply when the bond is redeemed or matures.</text>
</paragraph></subsection><subsection id="ID42172ef004e94cb0b63b58c9954f7d90"><enum>(c)</enum><header>Limitation
based on amount of tax</header>
<paragraph id="id21F335EE76DE4198B0A1C5BF241818BD"><enum>(1)</enum><header>In
general</header><text>The credit allowed under subsection (a) for any taxable
year shall not exceed the excess of—</text>
<subparagraph id="ID1dcfc5e8a7d7459e97ddaabf605e632d"><enum>(A)</enum><text>the sum of the
regular tax liability (as defined in section 26(b)) plus the tax imposed by
section 55, over</text>
</subparagraph><subparagraph id="IDf515e1e0d45249a4afb66768206b9992"><enum>(B)</enum><text>the sum of the
credits allowable under this part (other than subpart C, section 1400N(l), and
this subpart).</text>
</subparagraph></paragraph><paragraph id="IDf1c2b81a57e74e56b97d8ab63366e55b"><enum>(2)</enum><header>Carryforward of
unused credit</header><text>If the credit allowable under subsection (a)
exceeds the limitation imposed by paragraph (1) for such taxable year, such
excess shall be carried to each of the 5 taxable years following the unused
credit year and added to the credit allowable under subsection (a) for each
such taxable year, subject to the application of paragraph (1) to such taxable
year.</text>
</paragraph></subsection><subsection id="idBBFACA87A67447D9ACB814B2845071B4"><enum>(d)</enum><header>Freedom from
fossil Fuels (F4) bond</header><text>For purposes of this section—</text>
<paragraph id="id616FFB97599345CDA89465213D0569EF"><enum>(1)</enum><header>In
general</header><text>The term <term>Freedom from Fossil Fuels (F4) bond</term>
means any bond issued as part of an issue if—</text>
<subparagraph id="id3244E44B17F14064B740812191A0DFD6"><enum>(A)</enum><text>the bond is
issued by a governmental body pursuant to an allocation by the Freedom from
Fossil Fuels (F4) Bonds Board to such issuer of a portion of the Freedom from
Fossil Fuels (F4) bond limitation under subsection (f)(2),</text>
</subparagraph><subparagraph id="id3D0436E1DBE14C06B535159555A6C5DF"><enum>(B)</enum><text>95 percent or
more of the proceeds from the sale of such issue are to be used for capital
expenditures incurred for 1 or more qualified fossil fuel use reduction
projects,</text>
</subparagraph><subparagraph id="id202C1FC72E5543E1AEE1845F42AA8FA2"><enum>(C)</enum><text>the issuer
designates such bond for purposes of this section and the bond is in registered
form,</text>
</subparagraph><subparagraph id="ID29fbbc1497c443c9b29f2f2a8099578f"><enum>(D)</enum><text>such bond
satisfies public approval requirements similar to the requirements of section
147(f)(2),</text>
</subparagraph><subparagraph id="IDfc1cae654439482388287912767462db"><enum>(E)</enum><text>except as
provided in paragraph (4)(B), the payment of the principal of such issue is
secured by taxes of general applicability imposed by a general purpose
governmental unit, and</text>
</subparagraph><subparagraph id="id9052A3E4553641939E282EF60B2F9C42"><enum>(F)</enum><text>the issue meets
the requirements of subsection (h).</text>
</subparagraph></paragraph><paragraph id="idF988933F48E0450A9D74234F0FCD2E44"><enum>(2)</enum><header>Qualified
fossil fuel use reduction project</header>
<subparagraph id="id93EC563AA4B04503A164F75DFA92E18A"><enum>(A)</enum><header>In
general</header><text>The term <term>a qualified fossil fuel use reduction
project</term> means any project that will reduce oil and fossil fuel
consumption, including—</text>
<clause id="id0D94B507FD7E441EA477993D6A0AEE49"><enum>(i)</enum><text>transit oriented
development,</text>
</clause><clause id="id7F5B52F4F4904CBC8B3E0AC3EC32D00F"><enum>(ii)</enum><text>public transit
infrastructure,</text>
</clause><clause id="id8EDE71A23F9F41F6A7FF1D3E99EDAC78"><enum>(iii)</enum><text>alternative
fuels vehicles and infrastructure,</text>
</clause><clause id="idF8E13C228FBD45F2813BBCFC4F00DE6A"><enum>(iv)</enum><text>nonpetroleum
vehicle manufacturing facilities,</text>
</clause><clause id="ID6d0d657278f7421cbf4e46eecff6cdb3"><enum>(v)</enum><text>energy efficiency
and energy demand reduction,</text>
</clause><clause id="IDb82c070a9fd142e6ac28123c4eaa3baa"><enum>(vi)</enum><text>greenhouse gas
reduction programs and systems, and</text>
</clause><clause id="id357A59897B6C416E8F395F566F8AA590"><enum>(vii)</enum><text>telecommuting
programs.</text>
</clause></subparagraph><subparagraph id="idBFB9B44923C74F978D512CE17821804C"><enum>(B)</enum><header>Qualified
property</header><text>The term <term>qualified property</term> means real
property—</text>
<clause id="idB779B441BE3C4F3DA6FCDB8530420D06"><enum>(i)</enum><text>which is, or is
to be, owned by—</text>
<subclause id="id615E9D04D25040A0838D71272345FC65"><enum>(I)</enum><text>a governmental
body, or</text>
</subclause><subclause id="idFE8843A52D5347359BE4D07CF3E86535"><enum>(II)</enum><text>an organization
described in section 501(c)(3) and exempt from taxation under section 501(a)
and which has as one if its purposes environmental preservation, and</text>
</subclause></clause><clause id="idA6E9099AE21541C1AC5A51A8864FED0F"><enum>(ii)</enum><text>which is
reasonably anticipated to be available for use by members of the general
public, unless such use would change the character of the property and be
contrary to the qualified use of the property.</text>
</clause></subparagraph><subparagraph id="id5E983AEB47084ED583CA59A327F5A2CA"><enum>(C)</enum><header>Safe harbor for
management contracts</header><text>For purposes of subparagraph (B), property
shall not be treated as qualified property if any rights or benefits of such
property inure to a private person other than rights or benefits under a
management contract or similar type of operating agreement to which rules
similar to the rules applicable to tax-exempt bonds apply.</text>
</subparagraph><subparagraph id="id16400FAC2DEC4FD1AF764B3C310449BA"><enum>(D)</enum><header>Limit on
disposition of property</header><text>Any disposition of any interest in
property acquired or improved in connection with a qualified fossil fuel use
reduction project described in this paragraph (except a project described in
subparagraph (A)(v)) shall contain an option (recorded pursuant to applicable
State or local law) to purchase such property for an amount equal to the
original acquisition price of such property for any interested organizations
described in subparagraph (B)(i)(II) if such organization purchases such
property subject to a restrictive covenant requiring a continued qualified use
of such property.</text>
</subparagraph><subparagraph id="idC7A90290F3A446D2BC7D6243D01F506A"><enum>(E)</enum><header>Qualified
use</header><text>The term <term>qualified use</term> means, with respect to
property, a use which is consistent with the purpose of the qualified fossil
fuel use reduction project related to such property.</text>
</subparagraph></paragraph><paragraph id="idAA7C866B865A43A5935883F68B9B4CBB"><enum>(3)</enum><header>Special use
rules</header>
<subparagraph id="idDD5D48A8B8EB43F4BDAC0624CA7EB853"><enum>(A)</enum><header>Refinancing
rules</header><text>For purposes of paragraph (1)(B), a qualified fossil fuel
use reduction project may be refinanced with proceeds of a Freedom from Fossil
Fuels (F4) bond only if the indebtedness being refinanced (including any
obligation directly or indirectly refinanced by such indebtedness) was
originally incurred by the borrower after the date of the enactment of this
section.</text>
</subparagraph><subparagraph id="id46EEE26ABBA143DE887BFEF2F615FB6B"><enum>(B)</enum><header>Reimbursement</header><text>For
purposes of paragraph (1)(B), a Freedom from Fossil Fuels (F4) bond may be
issued to reimburse a borrower for amounts paid after the date of the enactment
of this section with respect to a qualified fossil fuel use reduction project,
but only if—</text>
<clause id="idE4E755D925324654AAFEACB7D0D5884F"><enum>(i)</enum><text>prior to the
payment of the original expenditure, the borrower declared its intent to
reimburse such expenditure with the proceeds of a Freedom from Fossil Fuels
(F4) bond,</text>
</clause><clause id="idB23138B79BF046BFBF41FD9570FDF1DC"><enum>(ii)</enum><text>not later than
60 days after payment of the original expenditure, the issuer adopts an
official intent to reimburse the original expenditure with such proceeds,
and</text>
</clause><clause id="id901B993AF62B498A89F76EFA646EB5DF"><enum>(iii)</enum><text>the
reimbursement is made not later than 18 months after the date the original
expenditure is paid.</text>
</clause></subparagraph><subparagraph id="id4547D40464DD4055A37B8F3A88742F35"><enum>(C)</enum><header>Treatment of
changes in use</header><text>For purposes of paragraph (1)(B), the proceeds of
an issue shall not be treated as used for a qualified fossil fuel use reduction
project to the extent that a borrower takes any action within its control which
causes such proceeds not to be used for a qualified fossil fuel use reduction
project. The Secretary shall prescribe regulations specifying remedial actions
that may be taken (including conditions to taking such remedial actions) to
prevent an action described in the preceding sentence from causing a bond to
fail to be a Freedom from Fossil Fuels (F4) bond.</text>
</subparagraph></paragraph><paragraph id="idDF66E32FBB3543B9952B16FE2D498538"><enum>(4)</enum><header>Special rules
for projects described in paragraph (2)(a)(v)</header>
<subparagraph id="id0275F7F8411F4E1EAAE6E2EDAD38AFC9"><enum>(A)</enum><header>Limit on use of
proceeds for project</header><text>This subsection shall not apply to any bond
issued as part of an issue if an amount of the proceeds from such issue are
used for a qualified fossil fuel use reduction project described in paragraph
(2)(A)(v) and involving public infrastructure in excess of an amount equal to 5
percent of the total amount of such proceeds used for all projects described in
such paragraph (2)(A)(v).</text>
</subparagraph><subparagraph id="id7C0180DEA43C4CA79F46DBA33A869FC8"><enum>(B)</enum><header>Private use and
repayment of proceeds</header><text>In the case of proceeds of an issue which
are used for a qualified fossil fuel use reduction project described in
paragraph (2)(A)(v), the issue of which such bonds are a part shall not fail to
meet the requirements of this subsection solely because the proceeds of a
disposition of any interest in such property are used to redeem such bonds as
long as the purchaser of such property makes an irrevocable election not to
claim any deduction with respect to such project under section 198.</text>
</subparagraph></paragraph></subsection><subsection id="id5E73BCA73E8249D997142E0D6E627F61"><enum>(e)</enum><header>Maturity
limitations</header>
<paragraph id="id06D0CE3A6004410BAB0E4D78AA0D6DAD"><enum>(1)</enum><header>Duration of
term</header><text>A bond shall not be treated as a Freedom from Fossil Fuels
(F4) bond if the maturity of such bond exceeds the maximum term determined by
the Secretary under paragraph (2) with respect to such bond.</text>
</paragraph><paragraph id="id218004A9D70C45B6AC7002FF4757B603"><enum>(2)</enum><header>Maximum
term</header><text>During each calendar month, the Secretary shall determine
the maximum term permitted under this paragraph for bonds issued during the
following calendar month. Such maximum term shall be the term which the
Secretary estimates will result in the present value of the obligation to repay
the principal on the bond being equal to 50 percent of the face amount of such
bond. Such present value shall be determined without regard to the requirements
of subsection (l)(6) and using as a discount rate the average annual interest
rate of tax of tax-exempt obligations having a term of 10 years or more which
are issued during the month. If the term as so determined is not a multiple of
a whole year, such term shall be rounded to the next highest whole year.</text>
</paragraph></subsection><subsection id="idFA2738ED87874CCE8BEE392983F2A7CD"><enum>(f)</enum><header>Limitation on
amount of bonds designated</header>
<paragraph id="id06DB2EBF00324479887ED2765C09D35F"><enum>(1)</enum><header>In
general</header><text>There is a Freedom from Fossil Fuels (F4) bond limitation
for each calendar year equal to—</text>
<subparagraph id="id47D3AE2962354F4EB550C2770F7F0922"><enum>(A)</enum><text>$3,000,000,000
for each of years 2007 through 2014, and</text>
</subparagraph><subparagraph id="id5F7DEE381F684A9BA85FD5D878C24834"><enum>(B)</enum><text>except as
provided in paragraph (3), zero after 2014.</text>
</subparagraph></paragraph><paragraph id="idC9497F487CA846868F8BFB051B454300"><enum>(2)</enum><header>Allocation of
limitation among governmental bodies</header>
<subparagraph id="idC101A1C280B741EFA874158E34518FF4"><enum>(A)</enum><header>In
general</header><text>The limitation amount to be allocated under paragraph (1)
for any calendar year shall be allocated among governmental bodies with an
approved application on a competitive basis by the Freedom from Fossil Fuels
(F4) Bonds Board (referred to in this subsection as the <quote>Board</quote>)
established under section 161 of the <short-title>Clean
Energy Development for a Growing Economy Act of 2006</short-title>.</text>
</subparagraph><subparagraph id="id76BA19616D844D3A96D1844293430BB3"><enum>(B)</enum><header>Approved
application</header><text>For purposes of subparagraph (A), the term
<term>approved application</term> means an application which is approved by the
Board, and which includes such information as the Board requires.</text>
</subparagraph><subparagraph id="id48F9B50FAAD04F72AFD0AC96C9502CB2"><enum>(C)</enum><header>Allocation to
each governmental body</header><text>The Board shall, in accordance with the
criteria for approval of applications, allocate amounts in any calendar year to
at least 1 approved application from each governmental body which submits such
application.</text>
</subparagraph></paragraph><paragraph id="idC6B81C62C2D14375974710A00FB6F453"><enum>(3)</enum><header>Carryover of
unused limitation</header><text>If for any calendar year—</text>
<subparagraph id="id28DB9A17BFE848DDB2561308FE458272"><enum>(A)</enum><text>the limitation
amount under paragraph (1), exceeds</text>
</subparagraph><subparagraph id="idBDAF78BCC2F84479959748A03CAD0874"><enum>(B)</enum><text>the aggregate
limitation amount allocated to governmental bodies under this section,</text>
</subparagraph><continuation-text continuation-text-level="paragraph">the
limitation amount under paragraph (1) for the following calendar year shall be
increased by the amount of such excess. No limitation amount shall be carried
forward under this paragraph more than 3 years.</continuation-text></paragraph></subsection><subsection id="idF0F71E5C2ECC40EE940AE9C939F742DD"><enum>(g)</enum><header>Credit included
in gross income</header><text>Gross income includes the amount of the credit
allowed to the taxpayer under this section (determined without regard to
subsection (c)) and the amount so included shall be treated as interest
income.</text>
</subsection><subsection id="id28A3A002B1564695908345EAAECFB86E"><enum>(h)</enum><header>Special rules
relating to expenditures</header>
<paragraph id="id292E2B0862774D72BE26114FBD8B0123"><enum>(1)</enum><header>In
general</header><text>An issue shall be treated as meeting the requirements of
this subsection if, as of the date of issuance, the issuer reasonably
expects—</text>
<subparagraph id="id51722E6E437243DCAC72F3E9821B4C89"><enum>(A)</enum><text>at least 95
percent of the proceeds from the sale of the issue are to be spent for 1 or
more qualified fossil fuel use reduction projects within the 5-year period
beginning on the date of issuance of the Freedom from Fossil Fuels (F4)
bond,</text>
</subparagraph><subparagraph id="id65EB709BE4084D99B05F9B6CB853F113"><enum>(B)</enum><text>a binding
commitment with a third party to spend at least 10 percent of the proceeds from
the sale of the issue will be incurred within the 6-month period beginning on
the date of issuance of the Freedom from Fossil Fuels (F4) bond or, in the case
of a Freedom from Fossil Fuels (F4) bond the proceeds of which are to be loaned
to 2 or more borrowers, such binding commitment will be incurred within the
6-month period beginning on the date of the loan of such proceeds to a
borrower, and</text>
</subparagraph><subparagraph id="id32FFD43E558D495AA6BF26FA54C2F6A9"><enum>(C)</enum><text>such projects
will be completed with due diligence and the proceeds from the sale of the
issue will be spent with due diligence.</text>
</subparagraph></paragraph><paragraph id="id3E4D2A4AFECB42EDB030BAC7745EFDE2"><enum>(2)</enum><header>Extension of
period</header><text>Upon submission of a request prior to the expiration of
the period described in paragraph (1)(A), the Secretary may extend such period
if the issuer establishes that the failure to satisfy the 5-year requirement is
due to reasonable cause and the related projects will continue to proceed with
due diligence.</text>
</paragraph><paragraph id="id0A2859232DB14652A5E5A7D72EC4F98A"><enum>(3)</enum><header>Failure to
spend required amount of bond proceeds within 5 years</header><text>To the
extent that less than 95 percent of the proceeds of such issue are expended by
the close of the 5-year period beginning on the date of issuance (or if an
extension has been obtained under paragraph (2), by the close of the extended
period), the issuer shall redeem all of the nonqualified bonds within 90 days
after the end of such period. For purposes of this paragraph, the amount of the
nonqualified bonds required to be redeemed shall be determined in the same
manner as under section 142.</text>
</paragraph></subsection><subsection id="idCB2832DE93A04A44BFD098A17A90A0EC"><enum>(i)</enum><header>Special rules
relating to arbitrage</header><text>A bond which is part of an issue shall not
be treated as a Freedom from Fossil Fuels (F4) bond unless, with respect to the
issue of which the bond is a part, the issuer satisfies the arbitrage
requirements of section 148 with respect to proceeds of the issue.</text>
</subsection><subsection id="idBF0899E7077C42F5B3EFA427A0929596"><enum>(j)</enum><header>Governmental
body</header><text>For purposes of this section, the term <term>governmental
body</term> means any State, territory, possession of the United States, the
District of Columbia, Indian tribal government, and any political
subdivision.</text>
</subsection><subsection id="idE55ED679F2F24EF783C8700EE3CB0BA7"><enum>(k)</enum><header>Special rules
relating to pool bonds</header><text>No portion of a pooled financing bond may
be allocable to any loan unless the borrower has entered into a written loan
commitment for such portion prior to the issue date of such issue.</text>
</subsection><subsection id="id4C3A9EE57579496DBA8452E3560E6303"><enum>(l)</enum><header>Other
definitions and special rules</header><text>For purposes of this
section—</text>
<paragraph id="id5354E9BEFD054E41B77A748653C1067C"><enum>(1)</enum><header>Bond</header><text>The
term <term>bond</term> includes any obligation.</text>
</paragraph><paragraph id="id69ACEA51E6C64ED9A585DFAF2E5A909C"><enum>(2)</enum><header>Pooled
financing bond</header><text>The term <term>pooled financing bond</term> shall
have the meaning given such term by section 149(f)(4)(A).</text>
</paragraph><paragraph id="idA866898A1546411BBCDC6F879C8058DC"><enum>(3)</enum><header>Partnership; s
corporation; and other pass-thru entities</header>
<subparagraph id="id1B6BBCBDD47D45619C7F0C444FB3B35E"><enum>(A)</enum><header>In
general</header><text>Under regulations prescribed by the Secretary, in the
case of a partnership, trust, S corporation, or other pass-thru entity, rules
similar to the rules of section 41(g) shall apply with respect to the credit
allowable under subsection (a).</text>
</subparagraph><subparagraph id="id61978A0273304837A3E31C32DC455738"><enum>(B)</enum><header>No basis
adjustment</header><text>Rules similar to the rules under section 1397E(i)(2)
shall apply.</text>
</subparagraph></paragraph><paragraph id="id11DE80B88FCB4BA6A5F6F18801D4D189"><enum>(4)</enum><header>Bonds held by
regulated investment companies</header><text>If any Freedom from Fossil Fuels
(F4) bond is held by a regulated investment company, the credit determined
under subsection (a) shall be allowed to shareholders of such company under
procedures prescribed by the Secretary.</text>
</paragraph><paragraph id="idC552F18F38B845D49E86C78A11A88E57"><enum>(5)</enum><header>Treatment for
estimated tax purposes</header><text>Solely for purposes of sections 6654 and
6655, the credit allowed by this section to a taxpayer by reason of holding a
Freedom from Fossil Fuels (F4) bond on a credit allowance date shall be treated
as if it were a payment of estimated tax made by the taxpayer on such
date.</text>
</paragraph><paragraph id="idABDA55F6AB1743A8AD398C4BDB519BE5"><enum>(6)</enum><header>Ratable
principal amortization required</header><text>A bond shall not be treated as a
Freedom from Fossil Fuels (F4) bond unless it is part of an issue which
provides for an equal amount of principal to be paid by the issuer during each
calendar year that the issue is outstanding.</text>
</paragraph><paragraph id="id6E2BB23589CE468E83A85E18BBBD7838"><enum>(7)</enum><header>Reporting</header><text>Issuers
of Freedom from Fossil Fuels (F4) bonds shall submit reports similar to the
reports required under section 149(e).</text>
</paragraph><paragraph id="idE515155170E8442B9BEDDF67C038697E"><enum>(8)</enum><header>Credits may be
stripped</header><text>Under regulations prescribed by the Secretary—</text>
<subparagraph id="id8A76E494B3D84A60A67EBC61C0353981"><enum>(A)</enum><header>In
general</header><text>There may be a separation (including at issuance) of the
ownership of a Freedom from Fossil Fuels (F4) bond and the entitlement to the
credit under this section with respect to such bond. In case of any such
separation, the credit under this section shall be allowed to the person which,
on the credit allowance date, holds the instrument evidencing the entitlement
to the credit and not to the holder of the bond.</text>
</subparagraph><subparagraph id="idE945FC5FB9764B2094FA7F555AF056E7"><enum>(B)</enum><header>Certain rules
to apply</header><text>In the case of a separation described in subparagraph
(A), the rules of section 1286 shall apply to the Freedom from Fossil Fuels
(F4) bond as if it were a stripped bond and to the credit under this section as
if it were a stripped coupon.</text>
</subparagraph></paragraph><paragraph id="id630F47AE86E8441AA3F7294BCE90750A"><enum>(9)</enum><header>Credit may be
transferred</header><text>Nothing in any law or rule of law shall be construed
to limit the transferability of the credit allowed by this section through sale
and repurchase agreements.</text>
</paragraph></subsection><subsection id="idB42B1307E4924204A5CF1D41F194BF6B"><enum>(m)</enum><header>Termination</header><text>This
section shall not apply with respect to any bond issued after December 31,
2014.</text>
</subsection></section><after-quoted-block></after-quoted-block></quoted-block>
</subsection><subsection id="IDd960277ee580437d884561d72edd3a7d"><enum>(b)</enum><header>Reporting</header><text>Subsection
(d) of section 6049 of the Internal Revenue Code of 1986 (relating to returns
regarding payments of interest), as amended by this Act, is amended by adding
at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="idFD7F67DFEF2E4BD48BCF5E052E70A2D5" style="OLC">
<paragraph id="ID20a5c688d3634d21995beacdfa2b0ca5"><enum>(10)</enum><header>Reporting of
credit on freedom from fossil Fuels (F4) bonds</header>
<subparagraph id="ID2655308111414c1684a57ee0d6e74d45"><enum>(A)</enum><header>In
general</header><text>For purposes of subsection (a), the term
<term>interest</term> includes amounts includible in gross income under section
54B(g) and such amounts shall be treated as paid on the credit allowance date
(as defined in section 54B(b)(4)).</text>
</subparagraph><subparagraph id="IDa9be1cd525014bd48bd1390044e6b400"><enum>(B)</enum><header>Reporting to
corporations, etc</header><text>Except as otherwise provided in regulations, in
the case of any interest described in subparagraph (A) of this paragraph,
subsection (b)(4) of this section shall be applied without regard to
subparagraphs (A), (H), (I), (J), (K), and (L)(i).</text>
</subparagraph><subparagraph id="ID31ca981365954a4fb11c888a4e1db7e5"><enum>(C)</enum><header>Regulatory
authority</header><text>The Secretary may prescribe such regulations as are
necessary or appropriate to carry out the purposes of this paragraph, including
regulations which require more frequent or more detailed
reporting.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID2a882663ab184f03a3d17e3bd92f310a"><enum>(c)</enum><header>Clerical
amendment</header><text>The table of sections for subpart H of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of 1986, as amended by
this Act, is amended by adding at the end the following:</text>
<quoted-block id="id9e4b755f-fbdb-42ae-a5ca-03e13b601994" style="OLC">
<toc>
<toc-entry idref="IDc553184f19ee4575b302c8d363ca7d94" level="section">Sec. 54B. Credit to holders of freedom from fossil Fuels (F4)
bonds.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="IDbdb8f36bcde64024a4a6388339752b3b"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to bonds
issued after December 31, 2005.</text>
</subsection><subsection commented="no" id="ID8361e415618a462a916321fa1c8d279d"><enum>(e)</enum><header>Freedom from
fossil Fuels (F4) bonds board</header>
<paragraph commented="no" id="idCF46D7A9AF514F9CA5F0BF31C6D8AF09"><enum>(1)</enum><header>In
general</header><text>The President, in consultation with Congress, States, and
local communities, shall establish in the Executive Branch the Freedom from
Fossil Fuels (F4) Bonds Board (referred to in this subsection as the
<quote>Board</quote>) to review applications for allocation of the Freedom from
Fossil Fuels (F4) bond applications in accordance with criteria published in
the Federal Register.</text>
</paragraph><paragraph commented="no" id="ID2d4016b4ac9f4413a2e4220cc6e68522"><enum>(2)</enum><header>Annual
report</header><text>The Board shall annually report with respect to the
conduct of its responsibilities under this subsection to the President and
Congress and such report shall include—</text>
<subparagraph commented="no" id="IDd54c156e7931450aad24cdb7a0a3e3f3"><enum>(A)</enum><text>the overall
progress of the Freedom from Fossil Fuels (F4) bond program, and</text>
</subparagraph><subparagraph commented="no" id="ID9d8ceeccbd9340f3876e2de9f4ac0fd0"><enum>(B)</enum><text>the overall
limitation amount allocated during the year and a description of the amount,
region, and qualified fossil fuel use reduction project financed by each
allocation.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDcc32ab0364774172aff12b29fcdba91e"><enum>(3)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated to the
Board such sums as are necessary to carry out the purposes of this
subsection.</text>
</paragraph></subsection></section><section id="ID70951d90a14d4f628a1e1e4f461fd205"><enum>422.</enum><header>Clean energy
security collaborative</header>
<subsection id="IDf92e42a9d6eb4f81b191154be0aa2064"><enum>(a)</enum><header>In
general</header><text>There is established a cooperative program, to be known
as the <quote>Clean Energy Security Collaborative</quote> (referred to in this
section as the <quote>Collaborative</quote>)—</text>
<paragraph id="idD8911EB70B7F434BB630A80C4BE09B01"><enum>(1)</enum><text>to promote
awareness of and increased use of clean energy technologies for energy
security; and</text>
</paragraph><paragraph id="idA2B3D95B6C6B4791AD871E2149DEA92F"><enum>(2)</enum><text>to increase
collaboration among Federal and State agencies to deploy clean distributed
energy technologies and systems for critical facilities, infrastructure, and
homeland security applications.</text>
</paragraph></subsection><subsection id="id071BFA4E40FC4EF5A70D69AC0340BBDB"><enum>(b)</enum><header>Administration</header><text>The
Collaborative shall be carried out by the Secretary of Energy—</text>
<paragraph id="id809E173C91BD432B8B95A7EDB6743A95"><enum>(1)</enum><text>in accordance
with an agreement between the Secretary and a nonprofit, non-governmental
organization that represents various types of State clean energy funds
dedicated to promoting the development and deployment of clean energy
technologies and to creating and expanding the markets for the technologies;
and</text>
</paragraph><paragraph id="id9B1EEA340276409CAC397B19C2E9B2F7"><enum>(2)</enum><text>in consultation
with the States.</text>
</paragraph></subsection><subsection id="IDec2e2cb8641d429b8ea0e9ecdfc296a8"><enum>(c)</enum><header>Duties</header><text>The
Collaborative, through the leadership of State clean energy funds, and in
partnership with institutions of higher education, shall conduct a multistate
analysis to develop—</text>
<paragraph id="ID92b3bfc5829447c1ae7f42565c8702b9"><enum>(1)</enum><text>a model energy
security assessment template for critical facilities and infrastructure;</text>
</paragraph><paragraph id="IDe2be9d2468c04e7a8e10a426778aa9d3"><enum>(2)</enum><text>a business case
that explores a strategy for using clean distributed generation technologies at
critical facilities and infrastructure, including—</text>
<subparagraph id="IDf15184b4574340b8ad0b88a84bcdde7a"><enum>(A)</enum><text>building and
facility backup power;</text>
</subparagraph><subparagraph id="ID6cea1ea9957e470096cead591b207862"><enum>(B)</enum><text>emergency
response capability;</text>
</subparagraph><subparagraph id="ID86c470b493e84cf6ba0107651328d847"><enum>(C)</enum><text>low-power
protection;</text>
</subparagraph><subparagraph id="ID0f134c055d0240b58e759c3894250b88"><enum>(D)</enum><text>infrastructure
area support;</text>
</subparagraph><subparagraph id="ID55db444b07c54cf983251688e5c0adb9"><enum>(E)</enum><text>transportation;
and</text>
</subparagraph><subparagraph id="ID4f5d84545315469fb301d6f670dffc1f"><enum>(F)</enum><text>telecommunications;</text>
</subparagraph></paragraph><paragraph id="IDcb24e113881c4be78b8708c37d726929"><enum>(3)</enum><text>a feasibility
study initiative with—</text>
<subparagraph id="idA3F25A7B58E94AC5AB2C314BF438C35F"><enum>(A)</enum><text>a short list of
critical facilities and infrastructure for potential demonstration
projects;</text>
</subparagraph><subparagraph id="idA6A4F321F1C94CC29A10B962399E920B"><enum>(B)</enum><text>a template for
the feasibility studies to be carried out; and</text>
</subparagraph><subparagraph id="idD627A20102D14BEB87DBCDF3DC300DAA"><enum>(C)</enum><text>a plan to conduct
feasibility studies in select States to better understand the actual economic,
technical, and other market barriers to the use of clean distributed generation
technologies at critical public facilities and infrastructure;</text>
</subparagraph></paragraph><paragraph id="IDf6b62363cc284911a494c0fcbf99047b"><enum>(4)</enum><text>a generic
financial and engineering model based on the results of the feasibility studies
carried out under paragraph (3) that could be used to accelerate consideration
and adoption of clean energy systems at critical public facilities and
infrastructure; and</text>
</paragraph><paragraph id="IDd8b25d832d014e2f8f3dcd799889a3f3"><enum>(5)</enum><text>a report for
submission to Congress to present findings and strategic recommendations for
improving energy security at critical facilities and infrastructure using clean
distributed generation technologies through a Federal-State partnership.</text>
</paragraph></subsection><subsection id="ID23c20e344b5d4aac85cd2d3303ce064e"><enum>(d)</enum><header>Federal-State
pilot projects</header><text>The Collaborative shall establish Federal-State
pilot projects with demonstrations in 5 States—</text>
<paragraph id="id1357DADD1622433F8DD39013A82E8A27"><enum>(1)</enum><text>to implement
recommendations from the feasibility studies carried out under subsection
(c)(3);</text>
</paragraph><paragraph id="idC08970EBE58445E388F6D20A2970FDFD"><enum>(2)</enum><text>to facilitate the
use of local, distributed, clean energy generation technologies and systems at
critical public safety facilities and infrastructure; and</text>
</paragraph><paragraph id="id6E9BD75E58A244B89E73E61D2CB4008E"><enum>(3)</enum><text>as overall
purposes, to fortify infrastructure, strengthen capabilities of first
responders, and enhance emergency preparedness, among other Federal and State
energy security priorities.</text>
</paragraph></subsection><subsection id="ID824dec247fc2476985be3024550248e6"><enum>(e)</enum><header>Report</header><text>The
Collaborative shall submit to Congress and each State director of homeland
security or emergency management a report that describes the results of—</text>
<paragraph id="id29843206FC474DF7919D24087403F485"><enum>(1)</enum><text>the multistate
analysis under subsection (c); and</text>
</paragraph><paragraph id="id9622D24D1DFF4F71912A50D19441E943"><enum>(2)</enum><text>the Federal-State
pilot projects under subsection (d).</text>
</paragraph></subsection><subsection id="IDf1d74c8945fc4632a504f9450792263a"><enum>(f)</enum><header>Funding
sources</header><text>Funding for the Collaborative may be provided
from—</text>
<paragraph id="ID5710823ac78d4f1795963089b2898eb0"><enum>(1)</enum><text>amounts
specifically appropriated for the Collaborative; and</text>
</paragraph><paragraph id="ID4c9ee6fae83842c7947f6eacce33557e"><enum>(2)</enum><text>an equal match of
Federal funds by any State receiving funds as part of a Federal-State pilot
project under subsection (d).</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDae313015a3ab4e99b2d42e3b997a1bdb"><enum>(g)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to carry
out this section $500,000,000 for each of fiscal years 2007 through
2010.</text>
</subsection></section><section id="ID6f728206cf3d4d8895c9a1ff51348486"><enum>423.</enum><header>Assistance for
State programs to retire fuel-inefficient motor vehicles</header>
<subsection id="ID521f86df6c824ec29067aa6afec7b7ee"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="ID898e1339bdf44d0da9f5f35309b9f032"><enum>(1)</enum><header>Fuel-efficient
automobile</header><text>The term <term>fuel-efficient automobile</term> means
a passenger automobile or a light-duty truck that has a fuel economy rating
that is 40 percent greater than the average fuel economy standard prescribed
pursuant to section 32902 of title 49, United States Code, or other law,
applicable to the passenger automobile or light-duty truck.</text>
</paragraph><paragraph id="IDcf6a9be545924291818526b1403320bf"><enum>(2)</enum><header>Fuel-inefficient
automobile</header><text>The term <term>fuel-inefficient automobile</term>
means a passenger automobile or a light-duty truck that—</text>
<subparagraph id="id384CC864BEBB4908B81DD3CFC2D820E3"><enum>(A)</enum><text>is manufactured
in a model year more than 15 years before the fiscal year in which
appropriations authorized under subsection (f) are made available; and</text>
</subparagraph><subparagraph id="id9D04D5D5269241BAB54948E496584787"><enum>(B)</enum><text>at the time of
manufacture, had a fuel economy rating that was equal to or less than 20 miles
per gallon.</text>
</subparagraph></paragraph><paragraph id="ID1074c1c86642418090344b7f133c872d"><enum>(3)</enum><header>Light-duty
truck</header>
<subparagraph id="ID2f487a210bfa4b9a941db0fa767941d0"><enum>(A)</enum><header>In
general</header><text>The term <term>light-duty truck</term> means an
automobile that is not a passenger automobile.</text>
</subparagraph><subparagraph id="ID7c2b4da893ab4248ac292d838b6c7b99"><enum>(B)</enum><header>Inclusions</header><text>The
term <term>light-duty truck</term> includes a pickup truck, a van, and a
four-wheel-drive general utility vehicle (as those terms are defined in section
600.002–85 of title 40, Code of Federal Regulations (or successor
regulations)).</text>
</subparagraph></paragraph><paragraph id="IDF5B00279483D4EC594A8D8DBE262A784"><enum>(4)</enum><header>State</header><text>The
term <term>State</term> means—</text>
<subparagraph id="ID01CAC88D89734E089AAF521EDEE96FD2"><enum>(A)</enum><text>a State;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDF32869E9E0DC43D79A64807585A95FBF"><enum>(B)</enum><text>the District of
Columbia.</text>
</subparagraph></paragraph></subsection><subsection id="IDa92c598fbd784eec911ca67c0cfdbf27"><enum>(b)</enum><header>Establishment</header><text>The
Secretary shall establish a program, to be known as the <quote>National Motor
Vehicle Efficiency Improvement Program</quote>, under which the Secretary shall
provide grants to States to operate voluntary programs to offer owners of
fuel-inefficient automobiles financial incentives to replace the
fuel-inefficient automobiles with fuel-efficient automobiles.</text>
</subsection><subsection id="ID56402ad7c3384aa38e5fb1bc6c348cec"><enum>(c)</enum><header>State
plan</header>
<paragraph id="ID20ae75885cc8488e92400a21586e55ca"><enum>(1)</enum><header>In
general</header><text>For a State to be eligible to receive funds under the
program, the Governor of the State shall submit to the Secretary a plan to
carry out a program under this section in the State.</text>
</paragraph><paragraph id="IDeddc48dd1918486b96f3239c15f9be82"><enum>(2)</enum><header>Additional
State credit</header><text>In addition to the payment under subsection (e)(6),
the State plan may provide for a credit that may be redeemed by the owner of a
replaced fuel-inefficient automobile at the time of purchase of a new
fuel-efficient automobile for use as the replacement.</text>
</paragraph></subsection><subsection id="ID474db6f924ac499a993273bac91d7148"><enum>(d)</enum><header>Allocation
formula</header><text>The amounts appropriated pursuant to subsection (f) shall
be allocated among the States in the proportion that—</text>
<paragraph id="idBF6BE98F183948488D108169E9CE4F40"><enum>(1)</enum><text>the number of
registered motor vehicles in each State as of the date on which the Secretary
computes shares under this subsection; bears to</text>
</paragraph><paragraph id="idF0839A1997594001A95735CBB3CF92EA"><enum>(2)</enum><text>the number of
registered motor vehicles in all States on that date.</text>
</paragraph></subsection><subsection id="ID201a0ea54c154ee4a5e0b77aef42684e"><enum>(e)</enum><header>Eligibility
criteria</header><text>The Secretary shall approve a State plan submitted under
subsection (c)(1) and provide the funds made available under subsection (f), if
the State plan—</text>
<paragraph id="ID64f5f153c5244aac902de64548b0e81a"><enum>(1)</enum><text>except as
provided in paragraph (7), requires that all passenger automobiles and
light-duty trucks turned in be scrapped, after allowing a period of time for
the recovery of spare parts;</text>
</paragraph><paragraph id="ID0d16f28acd6d478b98ccc061d2a1180a"><enum>(2)</enum><text>requires that all
passenger automobiles and light-duty trucks turned in be registered in the
State in order to be eligible;</text>
</paragraph><paragraph id="IDd5a84755c4164897b726f380613ce421"><enum>(3)</enum><text>requires that all
passenger automobiles and light-duty trucks turned in be operational at the
time at which the passenger automobiles and light-duty trucks are turned
in;</text>
</paragraph><paragraph id="ID718dbcc5eb7948d1904f712a1da6162b"><enum>(4)</enum><text>restricts
automobile owners (except nonprofit organizations) from turning in more than 1
passenger automobile and 1 light-duty truck during a 1-year period;</text>
</paragraph><paragraph id="IDc12aaef7287a45e7b224b5cac30c0966"><enum>(5)</enum><text>provides an
appropriate payment to the person recycling the scrapped passenger automobile
or light-duty truck for each turned-in passenger automobile or light-duty
truck;</text>
</paragraph><paragraph id="ID91d914862af44005af2ba1c7f8b47901"><enum>(6)</enum><text>subject to
subsection (c)(2), provides a minimum payment to the automobile owner for each
passenger automobile and light-duty truck turned in; and</text>
</paragraph><paragraph id="IDb8b4e03227304a7fac425c75d5c926ef"><enum>(7)</enum><text>provides
appropriate exceptions to the scrappage requirement for vehicles that qualify
as antique cars under State law.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDc1f8c3c96ee448c2944aa52fdc26d534"><enum>(f)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated to the
Secretary such sums as are necessary to carry out this section, to remain
available until expended.</text>
</subsection></section></subtitle><subtitle id="idBE36D02D3C68430BBBB8ABC2C732FA38"><enum>D</enum><header>International
clean energy deployment</header>
<section commented="no" display-inline="no-display-inline" id="id1D075BB267F9498DB91D4F311C35D421" section-type="subsequent-section"><enum>431.</enum><header>Clean energy
technology deployment in developing countries</header><text display-inline="no-display-inline">Title VII of the Global Environmental
Protection Assistance Act of 1989 (22 U.S.C. 7901 et seq.) is amending by
adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="id4535C777E20A439A93598DDC4F6712FE" style="OLC">
<part commented="no" id="idF904C15928D345789F0C6291DBE5226D"><enum>D</enum><header>Clean energy
technology deployment in developing countries</header>
<section commented="no" display-inline="no-display-inline" id="IDb456f5eae63846288e6d61b8f1d042bc" section-type="subsequent-section"><enum>741.</enum><header>Definitions</header><text display-inline="no-display-inline">In this part:</text>
<paragraph commented="no" display-inline="no-display-inline" id="ID1f7fea35ed25499da6328f4fd8f42ed9"><enum>(1)</enum><header>Clean energy
technology</header><text display-inline="yes-display-inline">The term
<term>clean energy technology</term> means an energy supply or end-use
technology that, over its lifecycle and compared to a similar technology
already in commercial use in any developing country—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID6e3ebae641c349e5afb0c721f4ee26f7"><enum>(A)</enum><text display-inline="yes-display-inline">is reliable, affordable, economically
viable, socially acceptable, and compatible with the needs and norms of the
host country;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDb46e7cd39b8d4b0dba72c39242467cad"><enum>(B)</enum><text display-inline="yes-display-inline">results in—</text>
<clause commented="no" display-inline="no-display-inline" id="idDBBBBB0FB84C488D9581D6A725DBB397"><enum>(i)</enum><text display-inline="yes-display-inline">reduced emissions of greenhouse gases;
or</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idC2C5F668B8094B0B89A4052E59A52437"><enum>(ii)</enum><text display-inline="yes-display-inline">increased geological sequestration;
and</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID5bdf29fa9e804a90aa69bf92e8c14eff"><enum>(C)</enum><text display-inline="yes-display-inline">may—</text>
<clause commented="no" display-inline="no-display-inline" id="id27AEE560964C46338D412A68461420F4"><enum>(i)</enum><text display-inline="yes-display-inline">substantially lower emissions of air
pollutants; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDeaea93a10e4e4b2b99bad17b8a5ad40c"><enum>(ii)</enum><text display-inline="yes-display-inline">generate substantially smaller or less
hazardous quantities of solid or liquid waste.</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID548dc9b49e0b4574b489cabc44c2673c"><enum>(2)</enum><header>Department</header><text display-inline="yes-display-inline">The term <term>Department</term> means the
Department of State.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID680c2cdeb4fe48bd81e6c4e94f342190"><enum>(3)</enum><header>Developing
country</header>
<subparagraph commented="no" display-inline="no-display-inline" id="id543C5C96538B425FB087B0A89AA2BF8E"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">The term
<term>developing country</term> means any country not listed in Annex I of the
United Nations Framework Convention on Climate Change, done at New York on May
9, 1992.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idAEF8DF894F014690B938256DF4B56BC7"><enum>(B)</enum><header>Inclusion</header><text display-inline="yes-display-inline">The term <term>developing country</term>
may include a country with an economy in transition, as determined by the
Secretary.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idF2F65E0B915843F69BE4D36C5C6708CD"><enum>(4)</enum><header>Geological
sequestration</header><text display-inline="yes-display-inline">The term
<term>geological sequestration</term> means the capture and long-term storage
in a geological formation of a greenhouse gas from an energy producing
facility, which prevents the release of greenhouse gases into the
atmosphere.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID511a6c6ae0e0445db3b033479d10fc3f"><enum>(5)</enum><header>Greenhouse
gas</header><text display-inline="yes-display-inline">The term <term>greenhouse
gas</term> means—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDeddccdd13234427cb82a2e347ab68a90"><enum>(A)</enum><text display-inline="yes-display-inline">carbon dioxide;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID81af7f35825648908701d083e99611c6"><enum>(B)</enum><text display-inline="yes-display-inline">methane;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDb5519774cc164e8aa0781fa5b711aece"><enum>(C)</enum><text display-inline="yes-display-inline">nitrous oxide;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDde11296a98944aeaabd3cd515df89652"><enum>(D)</enum><text display-inline="yes-display-inline">hydrofluorocarbons;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID6b05a8dd2b9f4562ac94156ce435b109"><enum>(E)</enum><text display-inline="yes-display-inline">perfluorocarbons; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDed291859998f4f5590c0835fb4a302c4"><enum>(F)</enum><text display-inline="yes-display-inline">sulfur hexafluoride.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID49a6cac02d2846bdaa23b5133ddba346"><enum>(6)</enum><header>Institution of
higher education</header><text display-inline="yes-display-inline">The term
<term>institution of higher education</term> has the meaning given the term in
section 101(a) of the Higher Education Act of 1965 (20 U.S.C. 1001(a)).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID51a44ab0388440e1924b1660f5a4cad5"><enum>(7)</enum><header>Interagency
working group</header><text display-inline="yes-display-inline">The term
<term>Interagency Working Group</term> means the Interagency Working Group on
Clean Energy Technology Exports established under section 742(b)(1)(A).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID55ac194937f54716b9e2ca7d0cd50f01"><enum>(8)</enum><header>National
laboratory</header><text display-inline="yes-display-inline">The term
<term>National Laboratory</term> has the meaning given the term in section 2 of
the Energy Policy Act of 2005 (42 U.S.C. 15801).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID9831b52678634e6198e825a0d56993d4"><enum>(9)</enum><header>Qualifying
project</header><text display-inline="yes-display-inline">The term
<term>qualifying project</term> means a project meeting the criteria
established under section 745(b).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDd7ffcc85cf9043a4a928cee1916823f9"><enum>(10)</enum><header>Secretary</header><text display-inline="yes-display-inline">The term <term>Secretary</term> means the
Secretary of State.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID914346B62C5D497EA7E427F09091F8FA"><enum>(11)</enum><header>State</header><text display-inline="yes-display-inline">The term <term>State</term> means—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID1AA0C8024B5B488EA17F81A36FBC1821"><enum>(A)</enum><text display-inline="yes-display-inline">a State;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID792A8B98FE9C42679797E3F1D68FC25F"><enum>(B)</enum><text display-inline="yes-display-inline">the District of Columbia;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID28D43A31F3264D79A65D4436F400AF2F"><enum>(C)</enum><text display-inline="yes-display-inline">the Commonwealth of Puerto Rico; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID4912258B462B4AAD8DC29F5610699D3D"><enum>(D)</enum><text display-inline="yes-display-inline">any other territory or possession of the
United States.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDd33a7e2fabaa4fd68f93b2cd13507f64"><enum>(12)</enum><header>Strategy</header><text display-inline="yes-display-inline">The term <term>Strategy</term> means the
strategy established under section 743.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID615e546b5da54dbc92478496120df07d"><enum>(13)</enum><header>Task
Force</header><text display-inline="yes-display-inline">The term <term>Task
Force</term> means the Task Force on International Clean Energy Cooperation
established under section 742(a).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDEEA2354104E24BEC8D80C69691273D5C"><enum>(14)</enum><header>United
States</header><text display-inline="yes-display-inline">The term <term>United
States</term>, when used in a geographical sense, means all of the
States.</text>
</paragraph></section><section commented="no" display-inline="no-display-inline" id="IDd07b7e2daf0248b99b9209238e148ba1" section-type="subsequent-section"><enum>742.</enum><header>Organization</header>
<subsection commented="no" display-inline="no-display-inline" id="IDc3d312cf4c694fe3b71879018eb930c1"><enum>(a)</enum><header>Task
Force</header>
<paragraph commented="no" display-inline="no-display-inline" id="id4C34EDF9206D46EFAE649D6152A5F02E"><enum>(1)</enum><header>Establishment</header><text display-inline="yes-display-inline">Not later than 90 days after the date of
enactment of this part, the President shall establish a Task Force on
International Clean Energy Cooperation.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id452F0E1929F440349FCF7748134AA520"><enum>(2)</enum><header>Composition</header><text display-inline="yes-display-inline">The Task Force shall be composed of—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id69D65CDC5BF94C84AABAC951C1A9FD48"><enum>(A)</enum><text display-inline="yes-display-inline">the Secretary, who shall serve as
Chairperson; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id7D1D59EB83004AA7B40D5FF626B52EF5"><enum>(B)</enum><text display-inline="yes-display-inline">representatives, appointed by the head of
the respective Federal agency, of—</text>
<clause commented="no" display-inline="no-display-inline" id="idC2C57D9D75564C8A9426D742B259368C"><enum>(i)</enum><text display-inline="yes-display-inline">the Department of Commerce;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idE1A525507BB548018D124EEB1A59A7CA"><enum>(ii)</enum><text display-inline="yes-display-inline">the Department of the Treasury;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id9D355D8F3DD94A7F9B7A34871940B5B6"><enum>(iii)</enum><text display-inline="yes-display-inline">the Department of Energy;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id59021A9DABF242E4885D3AE6729C6530"><enum>(iv)</enum><text display-inline="yes-display-inline">the Environmental Protection Agency;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id44DE628FA5FF482CB8B05779A35536CF"><enum>(v)</enum><text display-inline="yes-display-inline">the United States Agency for International
Development;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id64991C473C5E4BD5B8BF24183A98FD95"><enum>(vi)</enum><text display-inline="yes-display-inline">the Export-Import Bank;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id38C4B0CEE9D64270AE7FBCBDD9309ABF"><enum>(vii)</enum><text display-inline="yes-display-inline">the Overseas Private Investment
Corporation;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id18165D2AC0E04F639BFCE3324B383701"><enum>(viii)</enum><text display-inline="yes-display-inline">the Trade and Development Agency;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id30ED480832124F6D8FAECD51944D6174"><enum>(ix)</enum><text display-inline="yes-display-inline">the Small Business Administration;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idEDC6802D07C94CDB9E82EC561B71D810"><enum>(x)</enum><text display-inline="yes-display-inline">the Office of United States Trade
Representative; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id3E0B17BE24CB4175A0271099561A4D09"><enum>(xi)</enum><text display-inline="yes-display-inline">other Federal agencies, as determined by
the President.</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id8BDD406B6B95455198D349531206A8B0"><enum>(3)</enum><header>Duties</header>
<subparagraph commented="no" display-inline="no-display-inline" id="id5D3547C70B454BBC9008622B192FADB5"><enum>(A)</enum><header>Lead
agency</header><text display-inline="yes-display-inline">The Task Force shall
act as the lead agency in the development and implementation of strategy under
section 743.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id4165DA306CBE43D2B8E825A8BE959B29"><enum>(B)</enum><header>Coordination
and implementation</header><text display-inline="yes-display-inline">The Task
Force shall support the coordination and implementation of programs under
sections 1331, 1332, and 1608 of the Energy Policy Act of 1992 (42 U.S.C.
13361, 13362, 13387).</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id0F1731642BCB446F95F1D1A700AED358"><enum>(4)</enum><header>Termination</header><text display-inline="yes-display-inline">The Task Force, including any working group
established by the Task Force, shall terminate on January 1, 2016.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id172AAF27B3964A4D903247B02676ECCF"><enum>(b)</enum><header>Working
Groups</header>
<paragraph commented="no" display-inline="no-display-inline" id="id396B384458514090BA71DF7D45C88DC9"><enum>(1)</enum><header>Establishment</header><text display-inline="yes-display-inline">The Task Force—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id2894D70971FB4ECB9B3A347C532A962C"><enum>(A)</enum><text display-inline="yes-display-inline">shall establish an Interagency Working
Group on Clean Energy Technology Exports; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idB7670AD77996439E8E2036A3B43293AE"><enum>(B)</enum><text display-inline="yes-display-inline">may establish other working groups as
necessary to carry out this part.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idF7DB954C919F4C768B4329CBA08ACE2A"><enum>(2)</enum><header>Composition of
interagency working group</header><text display-inline="yes-display-inline">The
Interagency Working Group shall be composed of—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id51082AA755F14BCF8B466A84C419E59F"><enum>(A)</enum><text display-inline="yes-display-inline">the Secretary of Energy, the Secretary of
Commerce, and the Administrator of the United States Agency for International
Development, who shall jointly serve as Chairpersons; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idF3113DBA78E74FDF9A6ECC6079B1C9A6"><enum>(B)</enum><text display-inline="yes-display-inline">other members, as determined by the Task
Force.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id6D50BB49169041358CD078416B201946"><enum>(c)</enum><header>Interagency
Center</header>
<paragraph commented="no" display-inline="no-display-inline" id="idF372F0398A12441F9B1FDE90CE405C4A"><enum>(1)</enum><header>Establishment</header><text display-inline="yes-display-inline">There is established an Interagency Center
in the Office of International Energy Market Development of the Department of
Energy.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id04D8646D224A49358D7FE834A77750C3"><enum>(2)</enum><header>Duties</header><text display-inline="yes-display-inline">The Interagency Center shall—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="idD1646F1B3BD74DEFA778B2C42FAF6566"><enum>(A)</enum><text display-inline="yes-display-inline">assist the Interagency Working Group in
carrying out this part; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id91EB4E41C2BC443EB5D7D4F0E272F089"><enum>(B)</enum><text display-inline="yes-display-inline">perform such other duties as are determined
to be appropriate by the Secretary of Energy.</text>
</subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID871d615a8283423ba0ce77f3b4961e07" section-type="subsequent-section"><enum>743.</enum><header>Strategy</header>
<subsection commented="no" display-inline="no-display-inline" id="id8B32BDD3967E4F82B961B59459C1F275"><enum>(a)</enum><header>Initial
strategy</header>
<paragraph commented="no" display-inline="no-display-inline" id="idA2F16F1C2C364BE39D1A002283164F0B"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Not later than 1 year
after the date of enactment of this part, the Task Force shall develop and
submit to the President a Strategy to—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDbd1e5bc72e86477fa8fdf9e5d7e90f9a"><enum>(A)</enum><text display-inline="yes-display-inline">support the development and implementation
of programs and policies in developing countries to promote the adoption of
clean energy technologies and energy efficiency technologies and strategies,
with an emphasis on those developing countries that are expected to experience
the most significant growth in energy production and use over the next 20
years;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDa9746380f33449a1bb5a94e4e437461d"><enum>(B)</enum><text display-inline="yes-display-inline">open and expand clean energy technology
markets and facilitate the export of clean energy technology to developing
countries, in a manner consistent with the subsidy codes of the World Trade
Organization;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID7b7b4797630248a5bbf821d3b3be6301"><enum>(C)</enum><text display-inline="yes-display-inline">integrate into the foreign policy
objectives of the United States the promotion of—</text>
<clause commented="no" display-inline="no-display-inline" id="id2A40828E0F4442029E54B5B4E6FA921A"><enum>(i)</enum><text display-inline="yes-display-inline">clean energy technology deployment and
reduced greenhouse gas emissions in developing countries; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id9B69C68FEA53491B82A42F7C44B62152"><enum>(ii)</enum><text display-inline="yes-display-inline">clean energy technology exports;</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID49bbbaa91a4346e6a65e753d8b464641"><enum>(D)</enum><text display-inline="yes-display-inline">establish a pilot program that provides
financial assistance for qualifying projects; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idA767F20C0EF347519CFEEE726FAA5A52"><enum>(E)</enum><text display-inline="yes-display-inline">develop financial mechanisms and
instruments (including securities that mitigate the political and foreign
exchange risks of uses that are consistent with the foreign policy of the
United States by combining the private sector market and government
enhancements) that—</text>
<clause commented="no" display-inline="no-display-inline" id="id9052F4992DF44CD1B7168AF6FB526241"><enum>(i)</enum><text display-inline="yes-display-inline">are cost-effective; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id1E4CBBEB88A14AF3956FA68F42648D60"><enum>(ii)</enum><text display-inline="yes-display-inline">facilitate private capital investment in
clean energy technology projects in developing countries.</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id826F5F86448C405087CE4B19C2BB003E"><enum>(2)</enum><header>Transmission to
Congress</header><text display-inline="yes-display-inline">On receiving the
Strategy from the Task Force under paragraph (1), the President shall transmit
to Congress the Strategy.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID955028f206ba4216abc2e68a98833e8e"><enum>(b)</enum><header>
Updates</header>
<paragraph commented="no" display-inline="no-display-inline" id="id0614C5C1C45B4EE99AE180CAB7F8D624"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Not later than 2
years after the date of submission of the initial Strategy under subsection
(a)(1), and every 2 years thereafter—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id6A2A87ECB8C3485E88D06A33E482E3CF"><enum>(A)</enum><text display-inline="yes-display-inline">the Task Force shall—</text>
<clause commented="no" display-inline="no-display-inline" id="id6A8D73DFBDC44DA7B2CABAB71F8DBA04"><enum>(i)</enum><text display-inline="yes-display-inline">review and update the Strategy; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idB0759E3CDD3848D5821D2639DF2215A9"><enum>(ii)</enum><text display-inline="yes-display-inline">report the results of the review and update
to the President; and</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idCBFAA059D6F04B5F8D398D1B7DE55F05"><enum>(B)</enum><text display-inline="yes-display-inline">the President shall submit to Congress a
report on the Strategy.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id78FD7D3555A54DDC967DD171184E7B5C"><enum>(2)</enum><header>Inclusions</header><text display-inline="yes-display-inline">The report shall include—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID3710450f78ec4428b9b473bd888e1a76"><enum>(A)</enum><text display-inline="yes-display-inline">the updated Strategy;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDbc0ab0cbf9e549099d5b9372d8132e7e"><enum>(B)</enum><text display-inline="yes-display-inline">a description of the assistance provided
under this part;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID120c11888137488986cd7fd36d19a99b"><enum>(C)</enum><text display-inline="yes-display-inline">the results of the pilot projects carried
out under this part, including a comparative analysis of the relative merits of
each pilot project;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDf696731a5e4b495b8fa645848beccca5"><enum>(D)</enum><text display-inline="yes-display-inline">the activities and progress reported by
developing countries to the Department under section 746(b)(2); and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDacb2eba7f9f44a4b9c0d12ffbaab9357"><enum>(E)</enum><text display-inline="yes-display-inline">the activities and progress reported
towards meeting the goals established under section 746(b)(2).</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID92b1de6cde4945f698580550cafc3589"><enum>(c)</enum><header>Content</header><text display-inline="yes-display-inline">In developing, updating, and submitting a
report on the Strategy, the Task Force shall—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDe7d2b95c4e75414fb458838cc3a7ae0f"><enum>(1)</enum><text display-inline="yes-display-inline">assess—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id5499F74519064500B33033D32A6F734F"><enum>(A)</enum><text display-inline="yes-display-inline">energy trends, energy needs, and potential
energy resource bases in developing countries; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id9398850A8D164B65B0687071B6BAE044"><enum>(B)</enum><text display-inline="yes-display-inline">the implications of the trends and needs
for domestic and global economic and security interests;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDf190d361ca3040e39d0fc74682db9dc2"><enum>(2)</enum><text display-inline="yes-display-inline">analyze technology, policy, and market
opportunities for international development, demonstration, and deployment of
clean energy technologies and strategies;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID5d0ec5cc3d8c4ad7b6a91b6b7f01a25f"><enum>(3)</enum><text display-inline="yes-display-inline">examine relevant trade, tax, finance,
international, and other policy issues to assess what policies, in the United
States and in developing countries, would help open markets and improve clean
energy technology exports of the United States in support of—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDa5a2b247e6974759a3994e075e1ee0dc"><enum>(A)</enum><text display-inline="yes-display-inline">enhancing energy innovation and
cooperation, including energy sector and market reform, capacity building, and
financing measures;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDc9699f7eb4e94f7991edd4b98e5c5521"><enum>(B)</enum><text display-inline="yes-display-inline">improving energy end-use efficiency
technologies (including buildings and facilities) and vehicle, industrial, and
co-generation technology initiatives; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID2543a17c5e614e61a817ad0febd41cb6"><enum>(C)</enum><text display-inline="yes-display-inline">promoting energy supply technologies,
including fossil, nuclear, and renewable technology initiatives;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID6186184d2a7c480bb99edbacbea4ddad"><enum>(4)</enum><text display-inline="yes-display-inline">investigate issues associated with building
capacity to deploy clean energy technology in developing countries,
including—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="idBB9A829067CE4E1FAC9F673A99245BC1"><enum>(A)</enum><text display-inline="yes-display-inline">energy-sector reform;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idB0E85FE27388402FBD41AACACEFD20F5"><enum>(B)</enum><text display-inline="yes-display-inline">creation of open, transparent, and
competitive markets for clean energy technologies;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idDAB747A83E4C4733A2D2159388B7F700"><enum>(C)</enum><text display-inline="yes-display-inline">the availability of trained personnel to
deploy and maintain clean energy technology; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id33FA2F76A9594E9B98D15ED4D140FC9C"><enum>(D)</enum><text display-inline="yes-display-inline">demonstration and cost-buydown mechanisms
to promote first adoption of clean energy technology;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDaae9487e00c74649a0054a3de8e4e5c0"><enum>(5)</enum><text display-inline="yes-display-inline">establish priorities for promoting the
diffusion and adoption of clean energy technologies and strategies in
developing countries, taking into account economic and security interests of
the United States and opportunities for the export of technology of the United
States;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID799eae2902d14d9784ca7236f20aaf28"><enum>(6)</enum><text display-inline="yes-display-inline">identify the means of integrating the
priorities established under paragraph (5) into bilateral, multilateral, and
assistance activities and commitments of the United States;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID2f14e186149246af9fa1287838876f4f"><enum>(7)</enum><text display-inline="yes-display-inline">establish methodologies for the
measurement, monitoring, verification, and reporting under section 746(b)(2) of
the greenhouse gas emission impacts of clean energy projects and policies in
developing countries;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id09FA0E7B242344B887FB89E3386838DD"><enum>(8)</enum><text display-inline="yes-display-inline">establish a registry that is accessible to
the public through electronic means (including through the Internet) in which
information reported under section 746(b)(2) shall be collected;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID125b783a9dd64b178da413d5b6260d93"><enum>(9)</enum><text display-inline="yes-display-inline">make recommendations to the heads of
appropriate Federal agencies on ways to streamline Federal programs and
policies to improve the role of the agencies in the international development,
demonstration, and deployment of clean energy technology;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID6586b6f360de4997b734e65482b8157f"><enum>(10)</enum><text display-inline="yes-display-inline">make assessments and recommendations
regarding the distinct technological, market, regional, and stakeholder
challenges necessary to deploy clean energy technology;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID692dd1e5f7cd430a87d67a5e62ab2f41"><enum>(11)</enum><text display-inline="yes-display-inline">recommend conditions and criteria that will
help ensure that funds provided by the United States promote sound energy
policies in developing countries while simultaneously opening their markets and
exporting clean energy technology of the United States;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID1fd6cdc47d394e37b055d5cdc6a9164f"><enum>(12)</enum><text display-inline="yes-display-inline">establish an advisory committee, composed
of representatives of the private sector and other interested groups, on the
export and deployment of clean energy technology;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID29d344e6fd384786a8c29541345eb13c"><enum>(13)</enum><text display-inline="yes-display-inline">establish a coordinated mechanism for
disseminating information to the private sector and the public on clean energy
technologies and clean energy technology transfer opportunities; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDf9afaa9311424487bc0172bf35a62784"><enum>(14)</enum><text display-inline="yes-display-inline">monitor the progress of each Federal agency
in promoting the purposes of this part, in accordance with—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id0BBEA61B44394D4CBB868D3BEF4D5EAA"><enum>(A)</enum><text display-inline="yes-display-inline">the 5-year strategic plan submitted to
Congress in October 2002; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idC534879B91B24F83963DEA25516A69D8"><enum>(B)</enum><text display-inline="yes-display-inline">other applicable law.</text>
</subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="IDcc33547b7eba4407bce91aaf1eedef54" section-type="subsequent-section"><enum>744.</enum><header>Clean energy
assistance to developing countries</header>
<subsection commented="no" display-inline="no-display-inline" id="ID7b91884080494ad5a35e9ace2df2cceb"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subject to section
746, the Secretary may provide assistance to developing countries for
activities that are consistent with the priorities established in the
Strategy.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id9C2C6F1C5EC94719A2B983A6C9A97C61"><enum>(b)</enum><header>Assistance</header><text display-inline="yes-display-inline">The assistance may be provided
through—</text>
<paragraph commented="no" display-inline="no-display-inline" id="idF4B85A7EEB6D4D00B5EA4AA3F32D0898"><enum>(1)</enum><text display-inline="yes-display-inline">the Millennium Challenge Corporation
established under section 604(a) of the Millennium Challenge Act of 2003 (22
U.S.C. 7703(a));</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id16F3A5DA97E343699F38255048CD888A"><enum>(2)</enum><text display-inline="yes-display-inline">the Global Village Energy Partnership;
and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id1F33FA7C4173443FB5824D2C46671DAD"><enum>(3)</enum><text display-inline="yes-display-inline">other international assistance programs or
activities of—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id018A2A385EBD4747A4E744FEDBFD11D7"><enum>(A)</enum><text display-inline="yes-display-inline">the Department;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idF1C2DF466BE64EE0A7A2F4F1D21DABE5"><enum>(B)</enum><text display-inline="yes-display-inline">the United States Agency for International
Development; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id448A53E727E44DFBBF48121BF58FBBFF"><enum>(C)</enum><text display-inline="yes-display-inline">other Federal agencies.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDc768ee3f562e43adbb02a898c9a369c8"><enum>(c)</enum><header>Eligible
activities</header><text display-inline="yes-display-inline">The activities
supported under this section include—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDbbf592552cbb471ea2d8473534618a02"><enum>(1)</enum><text display-inline="yes-display-inline">development of national action plans and
policies to—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID212d7d79562b49eeaa4a10e878fb4023"><enum>(A)</enum><text display-inline="yes-display-inline">facilitate the provision of clean energy
services and the adoption of energy efficiency measures;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID4aeeb397a89f44b9af4a829529819a4a"><enum>(B)</enum><text display-inline="yes-display-inline">identify linkages between the use of clean
energy technologies and the provision of agricultural, transportation, water,
health, educational, and other development-related services; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID640e802bd34543e3a797bae779621ebc"><enum>(C)</enum><text display-inline="yes-display-inline">integrate the use of clean energy
technologies into national strategies for economic growth, poverty reduction,
and sustainable development;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDb2505e4ae99d4ffa96f45e589184acc8"><enum>(2)</enum><text display-inline="yes-display-inline">strengthening of public and private sector
capacity to—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDa774b00db1044212a068c6945987ce68"><enum>(A)</enum><text display-inline="yes-display-inline">assess clean energy needs and
options;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID321e153f8ffb4d9991448492411094c0"><enum>(B)</enum><text display-inline="yes-display-inline">identify opportunities to reduce, avoid, or
sequester greenhouse gas emissions;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDf09434b2e4204251ad9ec3dd4e8739e2"><enum>(C)</enum><text display-inline="yes-display-inline">establish enabling policy
frameworks;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID4c898320ff65467fb67f484b4af8d0b1"><enum>(D)</enum><text display-inline="yes-display-inline">develop and access financing mechanisms;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDdbb8e469c2ca4cae9f829764f881562c"><enum>(E)</enum><text display-inline="yes-display-inline">monitor progress in implementing clean
energy and greenhouse gas reduction strategies;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID9c42729b86ac4b3fa5e327591701d45e"><enum>(3)</enum><text display-inline="yes-display-inline">enactment and implementation of
market-favoring measures to promote commercial-based energy service provision
and to improve the governance, efficiency, and financial performance of the
energy sector; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id509CB1EAA233419CBD11F06085CDCD62"><enum>(4)</enum><text display-inline="yes-display-inline">development and use of innovative public
and private mechanisms to catalyze and leverage financing for clean energy
technologies, including use of the development credit authority of the United
States Agency for International Development and credit enhancements through the
Export-Import Bank and the Overseas Private Investment Corporation.</text>
</paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID99d1890d35724f2b8a945be88c6cd9fc" section-type="subsequent-section"><enum>745.</enum><header>Pilot program for
demonstration projects</header>
<subsection commented="no" display-inline="no-display-inline" id="ID23515b00a684435eaee933b3795188b2"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Not later than 2
years after the date of enactment of this part, the Secretary, in consultation
with the Secretary of Energy and the Administrator of the United States Agency
for International Development, shall, by regulation, establish a pilot program
that provides financial assistance for qualifying projects consistent with the
Strategy and the performance criteria established under section 746.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDd18781b3fcde48e290fef61a53fdb74b"><enum>(b)</enum><header>Qualifying
projects</header><text display-inline="yes-display-inline">To be qualified to
receive assistance under this section, a project shall—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDb86c0ac64fae40f68b25d1df65fc4f1e"><enum>(1)</enum><text display-inline="yes-display-inline">be a project—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID263001d3f9504306a122cf20f3e0f08f"><enum>(A)</enum><text display-inline="yes-display-inline">to construct an energy production facility
in a developing country for the production of energy to be consumed in the
developing country; or</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDa68a538dfc51446eac2cf04480220379"><enum>(B)</enum><text display-inline="yes-display-inline">to improve the efficiency of energy use in
a developing country;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID84363fe64fca46efb179df8c9604ecf0"><enum>(2)</enum><text display-inline="yes-display-inline">be a project that—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDbda64a2c7b90425b81d6397fec6e8e8a"><enum>(A)</enum><text display-inline="yes-display-inline">is submitted by a firm of the United States
to the Secretary in accordance with procedures established by the Secretary by
regulation;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID21436c224a164da69e9fa4fad0439aa8"><enum>(B)</enum><text display-inline="yes-display-inline">meets the requirements of section 1608(k)
of the Energy Policy Act of 1992 (42 U.S.C. 13387(k));</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id98CD0CD0B2C04CC78968A1DB42AA2393"><enum>(C)</enum><text display-inline="yes-display-inline">uses technology that has been successfully
developed or deployed in the United States; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID5bd0fa4c44524fba95fbfaf67f11fb51"><enum>(D)</enum><text display-inline="yes-display-inline">is selected by the Secretary without regard
to the developing country in which the project is located, with notice of the
selection published in the Federal Register; and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDf4f67cf6f9da467d95ec75b2764b159d"><enum>(3)</enum><text display-inline="yes-display-inline">when deployed, result in a greenhouse gas
emission reduction (when compared to the technology that would otherwise be
deployed) of at least—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDe0a00a0f422849e7b149b8053025c4b2"><enum>(A)</enum><text display-inline="yes-display-inline">in the case of a unit or energy-efficiency
measure placed in service during the period beginning on the date of enactment
of this part and ending on December 31, 2009, 20 percentage points;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID7f87561a52e4416d9ebe3102f9829273"><enum>(B)</enum><text display-inline="yes-display-inline">in the case of a unit or energy-efficiency
measure placed in service during the period beginning on January 1, 2010, and
ending on December 31, 2019, 40 percentage points; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID26e81d514625467981c6309d16b0f620"><enum>(C)</enum><text display-inline="yes-display-inline">in the case of a unit or energy-efficiency
measure placed in service after December 31, 2019, 60 percentage points.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID261f5406524248bd8ba85f1f71e12774"><enum>(c)</enum><header>Financial
assistance</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID9766c63461514f578f9c22578fb1cee7"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">For each qualifying
project selected by the Secretary to participate in the pilot program, the
Secretary shall make a loan or loan guarantee available for not more than 50
percent of the total cost of the project.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id69991892209C4E16A4F0035406B43BD7"><enum>(2)</enum><header>Interest
rate</header><text display-inline="yes-display-inline">The interest rate on a
loan made under this subsection shall be equal to the current average yield on
outstanding obligations of the United States with remaining periods of maturity
comparable to the maturity of the loan.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID184210759e0347a8a451862e4247217d"><enum>(3)</enum><header>Host country
contribution</header><text display-inline="yes-display-inline">To be eligible
for a loan or loan guarantee for a project in a host country under this
subsection, the host country shall—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID14e3abadbb6a41ad9f16bb25d2bd3e86"><enum>(A)</enum><text display-inline="yes-display-inline">make at least a 10 percent contribution
toward the total cost of the project; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID055ebf6fbb024ab288faaf06197d9d0e"><enum>(B)</enum><text display-inline="yes-display-inline">verify to the Secretary (using the
methodology established under section 743(c)(7)) the quantity of annual
greenhouse gas emissions reduced, avoided, or sequestered as a result of the
deployment of the project.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID87def820c8e249e0871fb2ef2110e3d0"><enum>(4)</enum><header>Capacity
building research</header>
<subparagraph commented="no" display-inline="no-display-inline" id="idFB30E0141C974D26B2AD60EDE579B140"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">A proposal made for a
qualifying project may include a research component intended to build
technological capacity within the host country.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id3AE4A280E6544962961A5B6F34FC16B0"><enum>(B)</enum><header>Research</header><text display-inline="yes-display-inline">To be eligible for a loan or loan guarantee
under this paragraph, the research shall—</text>
<clause commented="no" display-inline="no-display-inline" id="id2AF7A0BAA77D42579DC348209640B0E5"><enum>(i)</enum><text display-inline="yes-display-inline">be related to the technology being
deployed; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id5027E59C0B0B4D1E951858F59C234B92"><enum>(ii)</enum><text display-inline="yes-display-inline">involve—</text>
<subclause commented="no" display-inline="no-display-inline" id="idFD5073E9E05C41ADA1AD74C851B066A1"><enum>(I)</enum><text display-inline="yes-display-inline">an institution in the host country;
and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="id65B4941DAE9C4CF0A42F7FE63ED43FB2"><enum>(II)</enum><text display-inline="yes-display-inline">a participant from the United States that
is an industrial entity, an institution of higher education, or a National
Laboratory.</text>
</subclause></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id08A19EA25C7343AAA40CDE4A2D1D8D17"><enum>(C)</enum><header>Host country
contribution</header><text display-inline="yes-display-inline">To be eligible
for a loan or loan guarantee for research in a host country under this
paragraph, the host country shall make at least a 50 percent contribution
toward the total cost of the research.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDdf2f808d4bef4c81a1a1a60f5b36134e"><enum>(5)</enum><header>Grants</header>
<subparagraph commented="no" display-inline="no-display-inline" id="idA4C22CE5C76248BBA14D5AF587FF4B0E"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">The Secretary, in
consultation with the Secretary of Energy and the Administrator of the United
States Agency for International Development, may, at the request of the United
States ambassador to a host country, make grants to help address and overcome
specific, urgent, and unforeseen obstacles in the implementation of a
qualifying project.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idD7381A96425F4C86A3F58862D0C960C9"><enum>(B)</enum><header>Maximum
amount</header><text display-inline="yes-display-inline">The total amount of a
grant made for a qualifying project under this paragraph may not exceed
$1,000,000.</text>
</subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID97b03adbf2964ad5a3062033b7a48ce1" section-type="subsequent-section"><enum>746.</enum><header>Performance criteria
for major energy consumers</header>
<subsection commented="no" display-inline="no-display-inline" id="ID3cb8646c0b5d47abb462d8aee5e94cf2"><enum>(a)</enum><header>Identification
of major energy consumers</header><text display-inline="yes-display-inline">Not
later than 1 year after the date of enactment of this part, the Task Force
shall identify those developing countries that, by virtue of present and
projected energy consumption, represent the predominant share of energy use
among developing countries.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDf7addbb76a044808b5372e93cdfb2f7f"><enum>(b)</enum><header>Performance
criteria</header><text display-inline="yes-display-inline">As a condition of
accepting assistance provided under sections 744 and 745, any developing
country identified under subsection (a) shall—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDbff1c80b1676482086d879880b9f71ec"><enum>(1)</enum><text display-inline="yes-display-inline">meet the eligibility criteria established
under section 607 of the Millennium Challenge Act of 2003 (22 U.S.C. 7706),
notwithstanding the eligibility of the developing country as a candidate
country under section 606 of that Act (22 U.S.C. 7705); and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID493779046d4f4629a8f1c812c01ff3a6"><enum>(2)</enum><text display-inline="yes-display-inline">agree to establish and report on progress
in meeting specific goals for reduced energy-related greenhouse gas emissions
and specific goals for—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id7C6FE905BFB242769D343052D6AF7684"><enum>(A)</enum><text display-inline="yes-display-inline">increased access to clean energy services
among unserved and underserved populations;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID69a1133549e44747b7be122c40c7da7f"><enum>(B)</enum><text display-inline="yes-display-inline">increased use of renewable energy
resources;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDf1b2d7fbcaad49aab58d755999cd7156"><enum>(C)</enum><text display-inline="yes-display-inline">increased use of lower greenhouse
gas-emitting fossil fuel-burning technologies;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID11f743b2e5304409adb9c349473f8ece"><enum>(D)</enum><text display-inline="yes-display-inline">more efficient production and use of
energy;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID2f086d00bf4345089878cda3cde137cf"><enum>(E)</enum><text display-inline="yes-display-inline">greater reliance on advanced energy
technologies;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID9c6b6aa80418480b9ee53386f87fb874"><enum>(F)</enum><text display-inline="yes-display-inline">the sustainable use of traditional energy
resources; or</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id7645429579AB44789B671B8C5AC4814A"><enum>(G)</enum><text display-inline="yes-display-inline">other goals for improving energy-related
environmental performance, including the reduction or avoidance of local air
and water quality and solid waste contaminants.</text>
</subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="IDb117a91c3a854cd1aacf5655eb70e9fb" section-type="subsequent-section"><enum>747.</enum><header>Authorization of
appropriations</header><text display-inline="no-display-inline">There are
authorized to be appropriated such sums as are necessary to carry out this part
for each of fiscal years 2006 through
2015.</text>
</section></part><after-quoted-block></after-quoted-block></quoted-block>
</section></subtitle><enum>V</enum><header>Securing a
reliable, affordable, and sustainable energy future</header>
<subtitle id="id4CAD70E051894BA298C1CC768C28672B"><enum>A</enum><header>Advanced Research
Project Agency for Energy</header>
<section id="ID99a862e5deba4dd7aab0678593290fd2"><enum>501.</enum><header>Office of
Advanced Energy Research, Technology Development, and Deployment</header>
<subsection id="IDd422a2fbfc2e4af7a2e1e2dccdfbaa9a"><enum>(a)</enum><header>Establishment</header><text>The
Secretary of Energy shall establish in the Department of Energy the Office of
Advanced Energy Research, Technology Development, and Deployment (referred to
in this section as the <quote>Office</quote>), to be headed by a Director
(referred to in this section as the <quote>Director</quote>) who reports to the
Secretary.</text>
</subsection><subsection id="IDaddc93c611954cf194ed419dd432cf96"><enum>(b)</enum><header>Mission</header><text>The
mission of the Office is—</text>
<paragraph commented="no" id="ID3d4bb51ea768424aad90505943b675b3"><enum>(1)</enum><text>to implement an
innovative energy research, technology development, and deployment program
to—</text>
<subparagraph id="ID25e1ef2e5ef64a18829efded8659a765"><enum>(A)</enum><text>increase national
security by significantly reducing petroleum and imported fuels
consumption;</text>
</subparagraph><subparagraph id="IDf210aad57026470f8430a095bd214a48"><enum>(B)</enum><text>significantly
improve the efficiency of electricity use and the reliability of the
electricity system; and</text>
</subparagraph><subparagraph id="ID7db769aa11bf4679939464014adc19d0"><enum>(C)</enum><text>significantly
reduce greenhouse gas emissions; and</text>
</subparagraph></paragraph><paragraph id="IDb31877ee79b1403fb8780487f661bbe7"><enum>(2)</enum><text>to sponsor a
diverse portfolio of cutting-edge, high-payoff research, development, and
deployment projects to carry out the program.</text>
</paragraph></subsection><subsection id="IDc158871e652c416c9dcbca0a1f81e587"><enum>(c)</enum><header>Experimental
personnel authority</header><text>The Director may staff the Office primarily
using a program of experimental use of special personnel management authority
in order to facilitate recruitment of eminent experts in science or engineering
for management of research and development projects and programs administered
by the Director under similar terms and conditions as the authority is
exercised under section 1101 of the Strom Thurmond National Defense
Authorization Act for Fiscal Year 1999 (Public Law 105–261; 5 U.S.C. 3104
note), as determined by the Director.</text>
</subsection><subsection id="IDbdfb065c821b42f59e78b585a93cf66d"><enum>(d)</enum><header>Transactions
other than contracts and grants</header><text>To carry out projects under this
section, the Director may enter into transactions to carry out advanced
research projects under this subsection under similar terms and conditions as
the authority is exercised under section 646(g) of the Department of Energy
Organization Act (42 U.S.C. 7256(g)).</text>
</subsection><subsection id="ID059a6b8d42a0493cb67282735bd4d5ce"><enum>(e)</enum><header>Prizes for
advanced technology achievements</header>
<paragraph id="IDad5fd53348ab43e2a0f820a731ed76a0"><enum>(1)</enum><header>In
general</header><text>Subject to paragraphs (2) through (4), the Director may
carry out a program to award cash prizes in recognition of outstanding
achievements in basic, advanced, and applied research, technology development,
and prototype development that have the potential to advance the mission
described in subsection (b) under similar terms and conditions as the authority
is exercised under section 1008 of the Energy Policy Act of 2005 (42 U.S.C.
16396).</text>
</paragraph><paragraph id="ID614130f4e26746a4b4aebb4249f990eb"><enum>(2)</enum><header>Competition
requirements</header><text>In carrying out this subsection, the Director
shall—</text>
<subparagraph id="IDf70cbb176f214f1ca26ca9212f71c3c1"><enum>(A)</enum><text>use a competitive
process for the selection of recipients of cash prizes; and</text>
</subparagraph><subparagraph id="ID8036fb16c58040ada10216c3587af462"><enum>(B)</enum><text>conduct
widely-advertised solicitation of submissions of research results, technology
developments, and prototypes.</text>
</subparagraph></paragraph><paragraph id="ID9d1a3f15b5bf41d7bd36d2466135520c"><enum>(3)</enum><header>Maximum amount
for all cash prizes</header><text>The total amount of all cash prizes awarded
for a fiscal year under this subsection may not exceed $50,000,000.</text>
</paragraph><paragraph id="ID90fe00c6daa64da6a64964e66bdb3ae2"><enum>(4)</enum><header>Maximum amount
of individual cash prizes</header><text>The amount of an individual cash prize
awarded under this subsection may not exceed $10,000,000 unless the amount of
the award is approved by the Secretary of Energy.</text>
</paragraph></subsection><subsection id="ID0c3b96c1d9a74982992ada62c60b483f"><enum>(f)</enum><header>Annual
reports</header><text>As soon as practicable after the end of each fiscal year
for which the Director receives funds under subsection (h), the Director shall
submit to the Committee on Energy and Natural Resources of the Senate and the
Committee on Energy and Commerce, and the Committee on Science, of the House of
Representatives a report on the progress, challenges, future milestones, and
strategic plan of the Office, including—</text>
<paragraph id="IDfc01de2d5a62412c8620195a94d4487a"><enum>(1)</enum><text>a description of,
and rationale for, any changes in the strategic plan;</text>
</paragraph><paragraph id="IDb6ea35af4b4240b89e755d6a8413dc4f"><enum>(2)</enum><text>the adequacy of
human and financial resources necessary to achieve the mission described in
subsection (b); and</text>
</paragraph><paragraph id="ID10c63b3bae164a05b28ca33d1cd6dc93"><enum>(3)</enum><text>in the case of
cash prizes awarded under subsection (e), a description of—</text>
<subparagraph id="ID80761e0169ec4bdf8a6573b8bc78174e"><enum>(A)</enum><text>the applications
of the research, technology, or prototypes for which prizes were
awarded;</text>
</subparagraph><subparagraph id="ID9113e2991e93477797010a78b8d2f8a8"><enum>(B)</enum><text>the total amount
of the prizes that were awarded;</text>
</subparagraph><subparagraph id="ID22e1415b6830406eb1e965e320d39cdc"><enum>(C)</enum><text>the methods used
for solicitation and evaluation of submissions and an assessment of the
effectiveness of those methods; and</text>
</subparagraph><subparagraph id="ID83c878abf805490bbea895dc9d863e5f"><enum>(D)</enum><text>recommendations
to improve the prize program.</text>
</subparagraph></paragraph></subsection><subsection id="IDd9645c5d7dc24985b570967372e62c12"><enum>(g)</enum><header>Relationship to
other authority</header><text>The program under this section may be carried out
in conjunction with, or in addition to, the exercise of any other authority of
the Director to acquire, support, or stimulate basic, advanced, and applied
research, technology development, or prototype projects.</text>
</subsection><subsection id="IDbb036f2ae9bf4b1181acdd7f254ce156"><enum>(h)</enum><header>Authorization
of appropriations</header><text display-inline="yes-display-inline">There are
authorized to be appropriated to carry out this section—</text>
<paragraph id="IDd44bd91653184ff593d8ab759ac959ca"><enum>(1)</enum><text>$1,000,000,000
for fiscal year 2007; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID4fa1990cb7354dcb95cd8a89602731e2"><enum>(2)</enum><text>$2,000,000,000
for each of fiscal years 2008 through 2011.</text>
</paragraph></subsection></section></subtitle><subtitle id="idBA8AE40BF637475DBC62E3852487DF53"><enum>B</enum><header>Near-term vehicle
technology program</header>
<section id="ID739cc03154a2414592472fa11208bffc"><enum>505.</enum><header>Near-term
vehicle technology program</header>
<subsection id="IDf29cbceddc5a467198d1e9558e629fa5"><enum>(a)</enum><header>Purposes</header><text>The
purposes of this section are—</text>
<paragraph id="ID9e9d099483e3490d834ab00b8bf7fa3d"><enum>(1)</enum><text>to enable and
promote, in partnership with industry, comprehensive development,
demonstration, and commercialization of a wide range of electric drive
components, systems, and vehicles using diverse electric drive transportation
technologies;</text>
</paragraph><paragraph id="ID50cee60b7cc24f72a711ed6d1f53f27e"><enum>(2)</enum><text>to make critical
public investments to help private industry, institutions of higher education,
National Laboratories, and research institutions to expand innovation,
industrial growth, and jobs in the United States;</text>
</paragraph><paragraph id="IDdf7c6608668a45eeba96676d7a8724ab"><enum>(3)</enum><text>to expand the
availability of the existing electric infrastructure for fueling light-duty
transportation and other on-road and nonroad vehicles that are using petroleum
and are mobile sources of emissions—</text>
<subparagraph id="ID91171d3efca74467852a2d131ce40d2e"><enum>(A)</enum><text>including the
more than 3,000,000 reported units (such as electric forklifts, golf carts, and
similar nonroad vehicles) in use on the date of enactment of this Act;
and</text>
</subparagraph><subparagraph id="IDb052156d04e442c1b56e186c2441e4be"><enum>(B)</enum><text>with the goals of
enhancing the energy security of the United States, reducing dependence on
imported oil and reducing emissions through the expansion of grid-supported
mobility;</text>
</subparagraph></paragraph><paragraph id="ID89cff43a1af741b186769395b405ab1b"><enum>(4)</enum><text>to accelerate the
widespread commercialization of all types of electric drive vehicle technology
into all sizes and applications of vehicles, including commercialization of
plug-in hybrid electric vehicles and plug-in hybrid fuel cell vehicles;
and</text>
</paragraph><paragraph id="IDa4c1495d347a45b6b79f73eb4f263334"><enum>(5)</enum><text>to improve the
energy efficiency of, and reduce the petroleum use in, transportation.</text>
</paragraph></subsection><subsection id="ID1acd69a6f4f14ba7b87162793c306c3e"><enum>(b)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="id435BE6BD785E4DF688FD01F37CAE5BC2"><enum>(1)</enum><header>Administrator</header><text>The
term <term>Administrator</term> means the Administrator of the Environmental
Protection Agency.</text>
</paragraph><paragraph id="ID7d333815d5ec47039047adf227b29dcb"><enum>(2)</enum><header>Battery</header><text>The
term <term>battery</term> means an energy storage device used in an on-road
vehicle or nonroad vehicle powered, in whole or in part, using an off-board or
on-board source of electricity.</text>
</paragraph><paragraph id="ID79f30b0640ff48a291b711f0cc9d3afe"><enum>(3)</enum><header>Electric drive
transportation technology</header><text>The term <term>electric drive
transportation technology</term> means—</text>
<subparagraph id="ID66cbe395e553472ab848ba630865409a"><enum>(A)</enum><text>vehicles that use
an electric motor for all or part of their motive power and that may or may not
use off-board electricity, including battery electric vehicles, fuel cell
vehicles, engine dominant hybrid electric vehicles, plug-in hybrid electric
vehicles, plug-in hybrid fuel cell vehicles, and electric rail; or</text>
</subparagraph><subparagraph id="ID13f86e70137448f3ae4a8ffc1fd8ad76"><enum>(B)</enum><text>equipment
relating to transportation or mobile sources of air pollution that use an
electric motor to replace an internal combustion engine for all or part of the
work of the equipment, including corded electric equipment linked to
transportation or mobile sources of air pollution.</text>
</subparagraph></paragraph><paragraph id="ID8c263701756342239df597559f3c2cfc"><enum>(4)</enum><header>Engine dominant
hybrid electric vehicle</header><text>The term <term>engine dominant hybrid
electric vehicle</term> means an on-road vehicle or nonroad vehicle
that—</text>
<subparagraph id="ID5fac95300d224ceea5c7263ff508b488"><enum>(A)</enum><text>is propelled by
an internal combustion engine or heat engine using—</text>
<clause id="IDef358494280d4509b192568d5a30ea59"><enum>(i)</enum><text>any
combustible fuel;</text>
</clause><clause id="IDc0bd02307561480daee46023bd900aca"><enum>(ii)</enum><text>an
on-board, rechargeable storage device; and</text>
</clause></subparagraph><subparagraph id="ID43b9deddc6c04068a887e3684133d05e"><enum>(B)</enum><text>has no means of
using an off-board source of electricity.</text>
</subparagraph></paragraph><paragraph id="ID83b16c36f2364d0992f174da74a303fa"><enum>(5)</enum><header>Fuel cell
vehicle</header><text>The term <term>fuel cell vehicle</term> means an on-road
vehicle or nonroad vehicle that uses a fuel cell (as defined in section 803 of
the Spark M. Matsunaga Hydrogen Act of 2005 (42 U.S.C. 16152)).</text>
</paragraph><paragraph id="idFA685A9457814EA5ABC21B27B892FBFA"><enum>(6)</enum><header>Lightweighting</header><text>The
term <term>lightweighting</term> means the process of reducing the weight of
components or structural materials of a vehicle to achieve an overall reduction
in weight of the vehicle to achieve energy efficiency, maintain safety, improve
performance, or achieve a similar goal.</text>
</paragraph><paragraph id="ID500790191451438bbb7d130956ad4343"><enum>(7)</enum><header>Nonroad
vehicle</header><text>The term <term>nonroad vehicle</term> has the meaning
given the term in section 216 of the Clean Air Act (42 U.S.C. 7550).</text>
</paragraph><paragraph id="ID4341fb7bd39e43539b465a1b82ef8a7a"><enum>(8)</enum><header>Plug-in hybrid
electric vehicle</header><text>The term <term>plug-in hybrid electric
vehicle</term> means an on-road vehicle or nonroad vehicle that is propelled by
an internal combustion engine or heat engine using—</text>
<subparagraph id="ID9c2b7e48ee96427a830c340a08f23b52"><enum>(A)</enum><text>any combustible
fuel;</text>
</subparagraph><subparagraph id="IDb7003552e7cc41a999f55524d191f652"><enum>(B)</enum><text>an on-board,
rechargeable storage device; and</text>
</subparagraph><subparagraph id="IDa857087c308e45f68a0657e4af6aa2c6"><enum>(C)</enum><text>a means of using
an off-board source of electricity.</text>
</subparagraph></paragraph><paragraph id="ID723c6b3b283248d3a3970feeb53eed2b"><enum>(9)</enum><header>Plug-in hybrid
fuel cell vehicle</header><text>The term <term>plug-in hybrid fuel cell
vehicle</term> means a fuel cell vehicle with a battery powered by an off-board
source of electricity.</text>
</paragraph></subsection><subsection id="ID18eb9f679b484201aebf9af1eac1b912"><enum>(c)</enum><header>Program</header><text>The
Secretary shall conduct a program of research, development, demonstration, and
commercial application for electric drive transportation and vehicle
lightweighting technology, including—</text>
<paragraph id="ID039f585bdf1941c4891981a116731508"><enum>(1)</enum><text>high-capacity,
high-efficiency batteries;</text>
</paragraph><paragraph id="IDd297a69c3fd44ca2b2a446ae871619ba"><enum>(2)</enum><text>high-efficiency
on-board and off-board charging components;</text>
</paragraph><paragraph id="IDc965af8e04c244d49264742dd758cc3d"><enum>(3)</enum><text>high-powered
drive train systems for passenger and commercial vehicles and for nonroad
equipment;</text>
</paragraph><paragraph id="IDdd5d7db448c446cc8d605ba1cc540105"><enum>(4)</enum><text>control system
development and power train development and integration for plug-in hybrid
electric vehicles, plug-in hybrid fuel cell vehicles, and engine dominant
hybrid electric vehicles, including—</text>
<subparagraph id="IDbdb8a18346024d3788389349e5165236"><enum>(A)</enum><text>development of
efficient cooling systems;</text>
</subparagraph><subparagraph id="ID90caee4eb39d4ab5ba56a255532b1346"><enum>(B)</enum><text>analysis and
development of control systems that minimize the emissions profile when clean
diesel engines are part of a plug-in hybrid drive system; and</text>
</subparagraph><subparagraph id="ID254bb65f68f54756b34da7f920c9acb3"><enum>(C)</enum><text>development of
different control systems that optimize for different goals, including—</text>
<clause id="ID955a30e40c184f3bb4a4e589d3579443"><enum>(i)</enum><text>battery
life;</text>
</clause><clause id="IDc5443e690de14516b5488229c2119dfe"><enum>(ii)</enum><text>reduction of
petroleum consumption; and</text>
</clause><clause id="ID115f91e1a9284bcfa74d07f68d14525b"><enum>(iii)</enum><text>greenhouse gas
reduction;</text>
</clause></subparagraph></paragraph><paragraph id="IDe612be1bd07b46c390e517545b47e28f"><enum>(5)</enum><text>nanomaterial
technology applied to both battery and fuel cell systems;</text>
</paragraph><paragraph id="ID2a995fec20334ce8b07313972185573c"><enum>(6)</enum><text>large-scale
demonstration, testing, and evaluation of plug-in hybrid electric vehicles in
different applications with different batteries and control systems,
including—</text>
<subparagraph id="ID8093a3c04b244d5d9b8f0fc763472404"><enum>(A)</enum><text>military
applications;</text>
</subparagraph><subparagraph id="ID4502c982332e4a2b98421dd4628eb8a2"><enum>(B)</enum><text>mass market
passenger and light-duty truck applications;</text>
</subparagraph><subparagraph id="IDab5e12823d364cfc8f9ce4d7d2976ba7"><enum>(C)</enum><text>private fleet
applications; and</text>
</subparagraph><subparagraph id="IDb759545d920e453eb9dd8f59242bc941"><enum>(D)</enum><text>medium- and
heavy-duty applications;</text>
</subparagraph></paragraph><paragraph id="ID068f6f61496449fdaf380412c97afbd1"><enum>(7)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="id33CA47076DD64E95B19859B51B6DA924"><enum>(A)</enum><text>a nationwide education
strategy for electric drive transportation technologies by providing secondary
and high school teaching materials and support for university education focused
on electric drive system and component engineering; and</text>
</subparagraph><subparagraph id="idCDFD6B83EBE94F9A9A871AAC56776711" indent="up1"><enum>(B)</enum><text>development, in consultation with the
Administrator, of procedures for testing and certification of criteria
pollutants, fuel economy, and petroleum use for light-, medium-, and heavy-duty
vehicle applications, including consideration of the vehicle and fuel as a
system, and not solely as an engine;</text>
</subparagraph></paragraph><paragraph id="ID8f5174d6dd864d35b0545dbbd3554176"><enum>(8)</enum><text>nightly off-board
charging;</text>
</paragraph><paragraph id="ID7d776659976a4ffdbb26a2357915d871"><enum>(9)</enum><text>advancement of
battery and corded electric transportation technologies in mobile source
applications by—</text>
<subparagraph id="IDcf1fb860530f4c549aa0e5c2819ae5f3"><enum>(A)</enum><text>improvement in
battery, drive train, and control system technologies; and</text>
</subparagraph><subparagraph id="IDa94a097018e946f9baf7bab4e6702d2e"><enum>(B)</enum><text>working with
industry and the Administrator to—</text>
<clause id="IDe0a757f91f8a4abf8977ddaced254bb2"><enum>(i)</enum><text>understand and
inventory markets; and</text>
</clause><clause id="ID70e3247af64c444caeddaea0ef12adf9"><enum>(ii)</enum><text>identify and
implement methods of removing barriers for existing and emerging applications;
and</text>
</clause></subparagraph></paragraph><paragraph id="id4A57E715D1354440BBDEF3EEA9FBF676"><enum>(10)</enum><text>components and
structural materials used for vehicle lightweighting, including
composites.</text>
</paragraph></subsection><subsection id="ID39a574a5539d438aa85915a01d10220a"><enum>(d)</enum><header>Goals</header><text>The
goals of the electric drive transportation technology program established under
subsection (c) shall be to develop, in partnership with industry and
institutions of higher education, projects that focus on—</text>
<paragraph id="IDd6607ec373e54b138148f88304196bb4"><enum>(1)</enum><text>innovative
electric drive technology developed in the United States;</text>
</paragraph><paragraph id="IDb993ac11a2b44e6aa0d6d634b2c8b6a3"><enum>(2)</enum><text>growth of
employment in the United States in electric drive design and
manufacturing;</text>
</paragraph><paragraph id="IDd3e7d09772944a288fe3f83f9402e013"><enum>(3)</enum><text>validation of the
plug-in hybrid potential through fleet demonstrations; and</text>
</paragraph><paragraph id="IDeeafa22862454a6bada2684da145764b"><enum>(4)</enum><text>acceleration of
fuel cell commercialization through comprehensive development and
commercialization of the electric drive technology systems that are the
foundational technology of the fuel cell vehicle system.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDd76ed0c17dd64bbf8a4b9847a0615031"><enum>(e)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to carry
out this section $600,000,000 for each of fiscal years 2007 through
2012.</text>
</subsection></section></subtitle><subtitle id="id718A5C8BADF6471A9953C5F6E2E67EC1"><enum>C</enum><header>Advanced
technology motor vehicles manufacturing credit</header>
<section id="IDB0FB60EBB40F4A3D8AFD5063F6A5D92B"><enum>511.</enum><header>Advanced
technology motor vehicles manufacturing credit</header>
<subsection id="ID41D328F35E6A4716A6D02517200E5F32"><enum>(a)</enum><header>In
general</header><text>Subpart B of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 (relating to foreign tax credit, etc.) is amended
by adding at the end the following new section:</text>
<quoted-block id="ID522DC789252E4D83989813556A47BCE2" style="OLC">
<section id="ID4538E780AAF145D5B1CC82A5BC1E3B0F"><enum>30D.</enum><header>Advanced
technology motor vehicles manufacturing credit</header>
<subsection id="ID6A78004A06C44B35937F623E1F1E9C70"><enum>(a)</enum><header>Credit
allowed</header><text>There shall be allowed as a credit against the tax
imposed by this chapter for the taxable year an amount equal to 35 percent of
the qualified investment of an eligible taxpayer for such taxable year.</text>
</subsection><subsection id="ID96209B0628AF40C5A7C6E1D6E9C2F178"><enum>(b)</enum><header>Qualified
investment</header><text>For purposes of this section—</text>
<paragraph id="IDC13705D2FA714B3589FDF8A80A0F5E04"><enum>(1)</enum><header>In
general</header><text>The term <term>qualified investment</term> means, with
respect to any taxable year, the sum of—</text>
<subparagraph id="id351E61F3547747428D77B171D17B80A6"><enum>(A)</enum><text>the costs paid or
incurred by the eligible taxpayer during such taxable year—</text>
<clause id="id950F20DFDF7542FDAAB841200D45A6DC"><enum>(i)</enum><text>to re-equip,
expand, or establish any manufacturing facility of the eligible taxpayer to
produce advanced technology motor vehicles or to produce eligible components,
and</text>
</clause><clause id="ID29B38AE1517B446281ECCB5EC4673EDC"><enum>(ii)</enum><text>for qualified
research (as defined in section 41(d)) related to advanced technology motor
vehicles and eligible components, and</text>
</clause></subparagraph><subparagraph id="ID362C916747504842AAFC7756065E6CE1"><enum>(B)</enum><text>qualified
engineering integration costs.</text>
</subparagraph></paragraph><paragraph id="ID74E51E4393564786997AC0B1C6CB2A0E"><enum>(2)</enum><header>Attribution
rules</header><text>For purposes of paragraph (1)(A)(i), in the case of a
manufacturing facility of the eligible taxpayer which produces both advanced
technology motor vehicles and other motor vehicles, or eligible components and
other components, only the amount paid or incurred for the production of
advanced technology motor vehicles and eligible components shall be taken into
account.</text>
</paragraph></subsection><subsection id="ID605336970095478A9B47C9A84745CFFA"><enum>(c)</enum><header>Eligible
taxpayer</header><text>For purposes of this section, the term <term>eligible
taxpayer</term> means any taxpayer if more than 50 percent of its gross
receipts for the taxable year is derived from the manufacture of motor vehicles
or any component parts of such vehicles.</text>
</subsection><subsection id="IDAAA23EBDAE7B41C9B2701BA3A387EA18"><enum>(d)</enum><header>Definitions</header><text>For
purposes of this section—</text>
<paragraph id="ID0A0629BFDF00486693BC78CA801A5E60"><enum>(1)</enum><header>Advanced
technology motor vehicle</header><text>The term <term>advanced technology motor
vehicle</term> means—</text>
<subparagraph id="id142B3846EE0D41BDA8D992286B5DC570"><enum>(A)</enum><text>any new qualified
fuel cell motor vehicle (as defined in section 30B(b)(3)),</text>
</subparagraph><subparagraph id="IDE1BDB9929EC44D20A719ABB7F29EC60E"><enum>(B)</enum><text>any new advanced
lean burn technology motor vehicle (as defined in section 30B(c)(3)),</text>
</subparagraph><subparagraph id="IDBFEAA92E5E554C2EB5173A76587D7631"><enum>(C)</enum><text>any new qualified
hybrid motor vehicle (as defined in section 30B(d)(3)(A) and determined without
regard to any gross vehicle weight rating), and</text>
</subparagraph><subparagraph id="idADAE683765064636BEE74024C7F9628F"><enum>(D)</enum><text>any new qualified
alternative motor fuel vehicle (as defined in section 30B(e)(4)).</text>
</subparagraph></paragraph><paragraph id="idDA7EF13957864D269052F1856E13DC87"><enum>(2)</enum><header>Eligible
components</header><text>The term <term>eligible component</term> means any
component inherent to any advanced technology motor vehicle but not inherent to
a motor vehicle which is not an advanced technology motor vehicle,
including—</text>
<subparagraph id="ID05742CC96F3E4EFC9A1EE2D7695F0C79"><enum>(A)</enum><text>with respect to
any gasoline or diesel-electric new qualified hybrid motor vehicle, any—</text>
<clause id="IDD643FE7740CD41E7AA8DC267BC409DF9"><enum>(i)</enum><text>electric motor or
generator,</text>
</clause><clause id="ID413888AF184842A5B0DB3936DDCAF154"><enum>(ii)</enum><text>power split
device,</text>
</clause><clause id="ID1364E781B67E4284B991140D302A74C8"><enum>(iii)</enum><text>power control
unit,</text>
</clause><clause id="ID66A2E0E19A414632B4A1D278492D027F"><enum>(iv)</enum><text>power
controls,</text>
</clause><clause id="ID6D2910D5F48044828896B772BC4FE4A2"><enum>(v)</enum><text>integrated
starter generator, or</text>
</clause><clause id="ID833D388DBFE14CBCB7B5F788E11275B5"><enum>(vi)</enum><text>battery,</text>
</clause></subparagraph><subparagraph id="ID9A4ACC07DFB8416F85A11C83942F0904"><enum>(B)</enum><text>with respect to
any hydraulic new qualified hybrid motor vehicle, any—</text>
<clause id="ID244241F84F1D4050B7688E21B0777F0F"><enum>(i)</enum><text>hydraulic
accumulator vessel,</text>
</clause><clause id="ID77096666727C4F55A017DCB69211E3CF"><enum>(ii)</enum><text>hydraulic pump,
or</text>
</clause><clause id="ID5A8CD666FFDE40EAAB982105AF330598"><enum>(iii)</enum><text>hydraulic
pump-motor assembly,</text>
</clause></subparagraph><subparagraph id="ID994A6934523D42BBB6D98AB52FCB8DA3"><enum>(C)</enum><text>with respect to
any new advanced lean burn technology motor vehicle, any—</text>
<clause id="ID7D44B2BAC33F4FBCB853EB2AC5F7C21B"><enum>(i)</enum><text>diesel
engine,</text>
</clause><clause id="ID8C4E9F692E0D4C3585DD0BC20E79E267"><enum>(ii)</enum><text>turbocharger,</text>
</clause><clause id="ID3FA7572A19664B06A1983DD511B0790C"><enum>(iii)</enum><text>fuel injection
system, or</text>
</clause><clause id="ID31319A4ED0BB4875938765F4769A0AC9"><enum>(iv)</enum><text>after-treatment
system, such as a particle filter or NOx absorber, and</text>
</clause></subparagraph><subparagraph id="IDC96B239A62CD4B8587FA9BE99F796C1A"><enum>(D)</enum><text>with respect to
any advanced technology motor vehicle, any other component submitted for
approval by the Secretary.</text>
</subparagraph></paragraph><paragraph id="ID0AF46D856F61498D9728FD80AFEB567B"><enum>(3)</enum><header>Qualified
engineering integration costs</header><text>For purposes of subsection
(b)(1)(B), the term <term>qualified engineering integration costs</term> means,
with respect to any advanced technology motor vehicle, costs incurred prior to
the market introduction of such motor vehicle for engineering tasks related
to—</text>
<subparagraph id="IDA7CC2C8A1A2E412DAE86341BEC22A4D2"><enum>(A)</enum><text>establishing
functional, structural, and performance requirements for components and
subsystems to meet overall vehicle objectives for a specific
application,</text>
</subparagraph><subparagraph id="IDF6D6B3E8463F43528E97A5C14889A565"><enum>(B)</enum><text>designing
interfaces for components and subsystems with mating systems within a specific
vehicle application,</text>
</subparagraph><subparagraph id="IDC808627C18CE44A98CE28038F51569BC"><enum>(C)</enum><text>designing cost
effective, efficient, and reliable manufacturing processes to produce
components and subsystems for a specific vehicle application, and</text>
</subparagraph><subparagraph id="IDDD17C5CE348248189AA3853346511E76"><enum>(D)</enum><text>validating
functionality and performance of components and subsystems for a specific
vehicle application.</text>
</subparagraph></paragraph><paragraph id="id45F5D8847B3F4BB9BD9309EA74A561D3"><enum>(4)</enum><header>Motor
vehicle</header><text>The term <term>motor vehicle</term> has the meaning given
such term by section 30(c)(2).</text>
</paragraph></subsection><subsection id="IDBB58EA7751054D9C83B055734BE79B4F"><enum>(e)</enum><header>Limitation
based on amount of tax</header>
<paragraph id="idD24C0218F68C4944815B9AB267620C96"><enum>(1)</enum><header>In
general</header><text>The credit allowed under subsection (a) for any taxable
year shall not exceed the sum of—</text>
<subparagraph id="id17C84C1838D94F5AB94873AC1B272286"><enum>(A)</enum><text>the taxpayer's
regular tax liability (as defined in section 26(b)) for the taxable year,
plus</text>
</subparagraph><subparagraph id="id3D062EEC53814D6A9AA9D8406DAD2EFB"><enum>(B)</enum><text>the tax imposed
under section 55 for the taxable year.</text>
</subparagraph></paragraph><paragraph id="id8410ECE474214A4C87B4774A621E74EF"><enum>(2)</enum><header>Carryover of
unused credit amounts</header>
<subparagraph id="id3AF3F8DB956F4F7AB6074EA1EE094856"><enum>(A)</enum><header>In
general</header><text>If the credit allowable under subsection (a) for a
taxable year exceeds the limitation under paragraph (1) for such taxable year,
such excess shall be allowed—</text>
<clause id="id51A382F1DCF741769268FF5626BF3C12"><enum>(i)</enum><text>as a credit
carryback to each of the 13 taxable years preceding such year, and</text>
</clause><clause id="idB3335A3D697242A3B0DE3CCE0DC8E938"><enum>(ii)</enum><text>as a credit
carryforward to each of the 20 taxable years following such year.</text>
</clause></subparagraph><subparagraph id="idDDBCEBA7933544FEB514CFDBD20A90D8"><enum>(B)</enum><header>Amount carried
to each year</header><text>For purposes of this paragraph, rules similar to the
rules of section 39(a)(2) shall apply.</text>
</subparagraph></paragraph></subsection><subsection id="ID4D40A562F0714256BE0C811ED42BBB09"><enum>(f)</enum><header>Special
rules</header>
<paragraph id="IDE9DD6DC5FF844A1C90679FA2748D1D9D"><enum>(1)</enum><header>Reduction in
basis</header><text>For purposes of this subtitle, if a credit is allowed under
this section for any expenditure with respect to any property, the increase in
the basis of such property which would (but for this paragraph) result from
such expenditure shall be reduced by the amount of the credit so
allowed.</text>
</paragraph><paragraph id="IDD8A2FCE97AB045689A1D13A48752D1B7"><enum>(2)</enum><header>Investments and
property outside the united states</header><text>No credit shall be allowed
under subsection (a) with respect to—</text>
<subparagraph id="ID74CE764F5EF34C729C367AD52D8D181B"><enum>(A)</enum><text>any manufacturing
facility which is located outside the United States, and</text>
</subparagraph><subparagraph id="ID81C2B0476EF94D9A8423993474C5ED8A"><enum>(B)</enum><text>any engineering
integration or research and development conducted outside the United
States.</text>
</subparagraph></paragraph><paragraph id="IDE07192BEF3A4404893E03F1F98495A27"><enum>(3)</enum><header>Aggregation of
expenditures; allocations</header><text>For purposes of this section, rules
similar to the rules of paragraphs (1) and (2) of section 41(f) shall
apply.</text>
</paragraph><paragraph id="idFB3EB4D195E34FA1AB3A045D42B21EE7"><enum>(4)</enum><header>Recapture</header><text>The
Secretary shall, by regulation, provide for recapturing the benefit of any
credit allowable under subsection (a) with respect to any manufacturing
facility which ceases to produce advanced technology motor vehicles or eligible
components.</text>
</paragraph><paragraph id="id594DB04FF6D4484DA2E6EDEF01441309"><enum>(5)</enum><header>Public
statement</header>
<subparagraph id="id95E22DC201EE4EB18DEA4666958F0C14"><enum>(A)</enum><header>In
general</header><text>No credit shall be allowed under subsection (a) for any
taxable year unless the eligible taxpayer makes publicly available a statement
describing the activities of the eligible taxpayer for which the credit is
allowed and the public benefits of such activities, including the estimated
amount of any reduction in national oil consumption in future years as a result
of such activities.</text>
</subparagraph><subparagraph id="id6899A3C6AC2A461CAFE654BD3B4BF63F"><enum>(B)</enum><header>Time for
publication</header><text>The statement required under subparagraph (A) shall
be made available not later than 90 days after the end of the taxable year for
which the credit under subsection (a) is allowed and shall be in such form as
the Secretary shall prescribe.</text>
</subparagraph></paragraph><paragraph id="IDD629BAD59EE14D8798B2909A67D9C5E9"><enum>(6)</enum><header>No double
benefit</header>
<subparagraph id="ID12BA88B7D2044842A9883FF7503A0371"><enum>(A)</enum><header>Coordination
with other deductions and credits</header><text>Except as provided in
subparagraph (B), the amount of any deduction or other credit allowable under
this chapter for any cost taken into account in determining the amount of the
credit under subsection (a) shall be reduced by the amount of such credit
attributable to such cost.</text>
</subparagraph><subparagraph id="IDEBE6D7AF965F4D959FCE74FDE7443735"><enum>(B)</enum><header>Research and
development costs</header>
<clause id="IDD1FBE4FBC1D54480831AD6108A20306D"><enum>(i)</enum><header>In
general</header><text>Except as provided in clause (ii), any amount described
in subsection (b)(1)(A)(ii) taken into account in determining the amount of the
credit under subsection (a) for any taxable year shall not be taken into
account for purposes of determining the credit under section 41 for such
taxable year.</text>
</clause><clause id="IDF8BB998349894D80B9411872AF3F93F6"><enum>(ii)</enum><header>Costs taken
into account in determining base period research expenses</header><text>Any
amounts described in subsection (b)(1)(A)(ii) taken into account in determining
the amount of the credit under subsection (a) for any taxable year which are
qualified research expenses (within the meaning of section 41(b)) shall be
taken into account in determining base period research expenses for purposes of
applying section 41 to subsequent taxable years.</text>
</clause></subparagraph></paragraph></subsection><subsection id="IDA8344882E2A748638154EC36D0C311B6"><enum>(g)</enum><header>Election not to
take credit</header><text>No credit shall be allowed under subsection (a) for
any property if the taxpayer elects not to have this section apply to such
property.</text>
</subsection><subsection id="IDA227BA5EC3BF4727BD7A09EC4CED406B"><enum>(h)</enum><header>Regulations</header><text>The
Secretary shall prescribe such regulations as necessary to carry out the
provisions of this
section.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDF8EF929FF62C4C4480E155782416FE4C"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="ID629F68A03E1042738EF31F6B20F718AA"><enum>(1)</enum><text>Section 1016(a)
of the Internal Revenue Code of 1986, as amended by this Act, is amended by
striking <quote>and</quote> at the end of paragraph (38), by striking the
period at the end of paragraph (39) and inserting <quote>, and</quote>, and by
adding at the end the following new paragraph:</text>
<quoted-block id="ID7FAD9F8888A34A88B75DC305C03B3691" style="OLC">
<paragraph id="IDC3EA84A3535D443DA2AAB952EA2A20E5"><enum>(40)</enum><text>to the extent
provided in section
30D(f)(1).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="ID29DB01D2C90B462DB5344106A3DD3941"><enum>(2)</enum><text>Section 6501(m)
of such Code is amended by inserting <quote>30D(g),</quote> after
<quote>30C(e)(5),</quote>.</text>
</paragraph><paragraph id="ID35653230692E46E9B688EFB510DE336B"><enum>(3)</enum><text>The table of
sections for subpart B of part IV of subchapter A of chapter 1 of such Code is
amended by inserting after the item relating to section 30C the following new
item:</text>
<quoted-block id="IDFF4E89C79705497DB897DB954EB0C9C5" style="OLC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 30D. Advanced technology motor
vehicles manufacturing
credit.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID13E060614EA3410EAB6D7860C8BBCE78"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to amounts
incurred in taxable years beginning after December 31, 1993.</text>
</subsection></section></subtitle><subtitle id="idF97D1BC6110B410EA6E07F6690116E24"><enum>D</enum><header>Realizing a
hydrogen future</header>
<section id="id9D8BD14A833E4CA5B8C9F82D758151DC"><enum>521.</enum><header>H-Prize
competition</header>
<subsection display-inline="no-display-inline" id="H93A699F0DC154A7E98B1A462F4CCD60"><enum>(a)</enum><header>Short
title</header><text display-inline="yes-display-inline">This section may be
cited as the <quote><short-title>H-Prize Act of
2006</short-title></quote>.</text>
</subsection><subsection id="H0DB233826EE84791A2E8ADA500066D7F"><enum>(b)</enum><header>Definitions</header><text display-inline="yes-display-inline">In this section:</text>
<paragraph id="H89E0AC47749E4697A545ADF9A7D9300"><enum>(1)</enum><header>Administering
entity</header><text display-inline="yes-display-inline">The term
<quote>administering entity</quote> means the entity with which the Secretary
enters into an agreement under subsection (c)(3).</text>
</paragraph><paragraph id="HBF74F3BF30B44C64A86D89A77DA72285"><enum>(2)</enum><header>Department</header><text>The
term <quote>Department</quote> means the Department of Energy.</text>
</paragraph><paragraph id="HE67399C408514EE0AFDF918C1000EF8"><enum>(3)</enum><header>Secretary</header><text>The
term <quote>Secretary</quote> means the Secretary of Energy.</text>
</paragraph></subsection><subsection id="H5E45829C1E4148C399E804EF1EFA72D8"><enum>(c)</enum><header>Prize
authority</header>
<paragraph id="H8FBBEBD0D5434160BCF91F62D2DF268C"><enum>(1)</enum><header>In
General</header><text display-inline="yes-display-inline">The Secretary shall
carry out a program to competitively award cash prizes only in conformity with
this section to advance the research, development, demonstration, and
commercial application of hydrogen energy technologies.</text>
</paragraph><paragraph id="HB37B76D6B4B444FEA3D78C88A18E9B67"><enum>(2)</enum><header>Advertising and
Solicitation of Competitors</header>
<subparagraph id="H38FB02D15AC54975B6516FA0035739FE"><enum>(A)</enum><header>Advertising</header><text display-inline="yes-display-inline">The Secretary shall widely advertise prize
competitions to encourage broad participation, including participation
by—</text>
<clause id="id3251E0F0E14F4707BDFE9E621E8D14FD"><enum>(i)</enum><text display-inline="yes-display-inline">individuals;</text>
</clause><clause id="id0D84AF294C00450FA15D33F3D6E2F111"><enum>(ii)</enum><text display-inline="yes-display-inline">institutions of higher education, including
historically Black colleges and universities and other institutions serving
minorities; and</text>
</clause><clause id="id8CF88E4783EA4B428CA0CA90BB3BB4AD"><enum>(iii)</enum><text display-inline="yes-display-inline">large and small businesses, including
businesses owned or controlled by socially and economically disadvantaged
persons.</text>
</clause></subparagraph><subparagraph id="HA9C3627C0AD44E3CB15DA583857D73EC"><enum>(B)</enum><header>Announcement
through Federal Register notice</header>
<clause id="id357AAD52BC2B4C34A2B009193FF65C24"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">The Secretary shall
announce each prize competition by publishing a notice in the Federal
Register.</text>
</clause><clause id="id335524D39B564871AFE0A36E9548B1CC"><enum>(ii)</enum><header>Requirements</header><text display-inline="yes-display-inline">The notice shall include a description
of—</text>
<subclause id="id5AA7BEE4ABC047EDA8458278B3417723"><enum>(I)</enum><text display-inline="yes-display-inline">the subject of the competition;</text>
</subclause><subclause id="id743EF50F26354CB18718D129D5BED46E"><enum>(II)</enum><text display-inline="yes-display-inline">the duration of the competition;</text>
</subclause><subclause id="idF36B0B4D799642AA9119CC0E7B6516FC"><enum>(III)</enum><text display-inline="yes-display-inline">the eligibility requirements for
participation in the competition;</text>
</subclause><subclause id="idFBEF1C1482CF4461835D80E57FFAA711"><enum>(IV)</enum><text display-inline="yes-display-inline">the process for participants to register
for the competition;</text>
</subclause><subclause id="id2C561D78BD064273AAE275A1FCC473FB"><enum>(V)</enum><text display-inline="yes-display-inline">the amount of the prize; and</text>
</subclause><subclause id="idEC37AC5DA6D6431C8DBD2250951CF969"><enum>(VI)</enum><text display-inline="yes-display-inline">the criteria for awarding the prize.</text>
</subclause></clause></subparagraph></paragraph><paragraph id="H801BF1B438B54419B3573EBFFDBD68BC"><enum>(3)</enum><header>Administering
the Competitions</header>
<subparagraph id="id0D646FD338B24A65AD7D61EF0EA4930A"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">The Secretary shall
enter into an agreement with a private, nonprofit entity to administer the
prize competitions, subject to this section.</text>
</subparagraph><subparagraph id="id71D52BF8574B4AAA93AFCE6E2286E1D3"><enum>(B)</enum><header>Duties</header><text display-inline="yes-display-inline">The duties of the administering entity
under the agreement shall include—</text>
<clause id="H87A8462B1CFC43A4A63EEBB2028001A2"><enum>(i)</enum><text>advertising prize
competitions and the results of the prize competitions;</text>
</clause><clause id="HE6C43407B84B495D9214C5F7C4DCC33C"><enum>(ii)</enum><text>raising funds
from private entities and individuals to pay for administrative costs and
contribute to cash prizes;</text>
</clause><clause id="H0CDCA772254B4A16A6E72900E8CCEAE8"><enum>(iii)</enum><text>working with the
Secretary to develop the criteria for selecting winners in prize competitions,
based on goals provided by the Secretary;</text>
</clause><clause id="HBD8EEAEB283C49D0A8E2487C1C454323"><enum>(iv)</enum><text>determining, in
consultation with the Secretary, the appropriate amount for each prize to be
awarded;</text>
</clause><clause id="H243E73E79A5B4316892EF24DB6ED8DE"><enum>(v)</enum><text>selecting judges in
accordance with subsection (d)(4), using criteria developed in consultation
with the Secretary; and</text>
</clause><clause id="H86D4EDFA9B334953A674B018BAFAC836"><enum>(vi)</enum><text display-inline="yes-display-inline">preventing the unauthorized use or
disclosure of the intellectual property, trade secrets, and confidential
business information of registered participants.</text>
</clause></subparagraph></paragraph><paragraph id="H3F609138DBC04E440098BE2C60838313"><enum>(4)</enum><header>Funding
Sources</header>
<subparagraph id="id394E34864F674E0A92C597F0B110C20F"><enum>(A)</enum><header>In
general</header><text>Cash prizes under this section shall consist of funds
appropriated under subsection (h) and any funds provided by the administering
entity for the cash prizes (including funds raised pursuant to paragraph
(3)(B)).</text>
</subparagraph><subparagraph id="idB7350158071B4F75930830AE7DF4C033"><enum>(B)</enum><header>Other Federal
agencies</header><text>The Secretary may accept funds from other Federal
agencies for the cash prizes.</text>
</subparagraph><subparagraph id="id2E72F3A1A3544BFB98B947ADDAD1EBBA"><enum>(C)</enum><header>No special
consideration</header><text>The Secretary may not give any special
consideration to any private sector entity or individual in return for a
donation to the administering entity.</text>
</subparagraph></paragraph><paragraph id="HF7B9222BD9E04D2C8FF4D9B02F3B9C3"><enum>(5)</enum><header>Announcement of
Prizes</header>
<subparagraph id="id95DA2334CF19426CBDD6D64B6B5ED4C5"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">The Secretary may not
issue a notice required by paragraph (2)(B) until all the funds needed to pay
out the announced amount of the prize have been appropriated or committed in
writing by the administering entity.</text>
</subparagraph><subparagraph id="idA5ADF0F317E1476FBCFE8B919B4CC5D6"><enum>(B)</enum><header>Increase in
amount of prize</header><text display-inline="yes-display-inline">The Secretary
may increase the amount of a prize after an initial announcement is made under
paragraph (2)(B) if—</text>
<clause id="HE26BD65424F64BA7AD00C475F01BB900"><enum>(i)</enum><text>notice of the
increase is provided in the same manner as the initial notice of the prize;
and</text>
</clause><clause id="HA6F753D057E146DBB0FC9276C71D00C7"><enum>(ii)</enum><text>the
funds needed to pay out the announced amount of the increase have been
appropriated or committed in writing by the administering entity.</text>
</clause></subparagraph></paragraph></subsection><subsection id="H422625B86A384008A7E02ECE72B878E3"><enum>(d)</enum><header>Prize
categories</header>
<paragraph id="H229C8248A2B34EFC95C8C4B989B99F46"><enum>(1)</enum><header>Categories</header><text>The
Secretary shall establish prizes for—</text>
<subparagraph id="HF57D10E9239C4EAD8B40B89CDD1007D"><enum>(A)</enum><text display-inline="yes-display-inline">advancements in components or systems
related to—</text>
<clause id="H691CA0A203BD402DA1820478F24092F5"><enum>(i)</enum><text>hydrogen
production;</text>
</clause><clause id="ID22c4c3cdfae84be9864b011a80b49657"><enum>(ii)</enum><text>hydrogen
production from renewable sources;</text>
</clause><clause id="H4A2A973A1E554CF7A64E75C143C321FE"><enum>(iii)</enum><text>hydrogen
storage;</text>
</clause><clause id="H28EC994AD0BD4598A83B2715E1DA73EC"><enum>(iv)</enum><text>hydrogen
distribution; and</text>
</clause><clause id="HEA2ED6686EC54C559F33AF5CAA9B4BAE"><enum>(v)</enum><text>hydrogen
utilization;</text>
</clause></subparagraph><subparagraph id="H0F3EBA4C0606489DB800A62DA6ABF7A5"><enum>(B)</enum><text>prototypes of
hydrogen-powered vehicles or other hydrogen-based products that best meet or
exceed objective performance criteria, such as completion of a race over a
certain distance or terrain or generation of energy at certain levels of
efficiency; and</text>
</subparagraph><subparagraph id="HB82461B103EF4553AB3EE500E4BFD460"><enum>(C)</enum><text display-inline="yes-display-inline">transformational changes in technologies
for the distribution or production of hydrogen that meet or exceed far-reaching
objective criteria that—</text>
<clause id="id2AC0C1AC353E485590437E95D00FB831"><enum>(i)</enum><text display-inline="yes-display-inline">shall include minimal carbon emissions;
and</text>
</clause><clause id="id9473BBE9DCC846B0A6AC9ED9D67750D1"><enum>(ii)</enum><text display-inline="yes-display-inline">may include cost criteria designed to
facilitate the eventual market success of a winning technology.</text>
</clause></subparagraph></paragraph><paragraph id="H44F32E43BDD24AC493B835305336E2D1"><enum>(2)</enum><header>Awards</header>
<subparagraph id="HEA30B39390EF4E63B828F7F56E224BF4"><enum>(A)</enum><header>Advancements</header>
<clause id="id22F1E05C43604F18A9984E273F93309B"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">To the extent
permitted under subsection (c)(5), the prizes authorized under paragraph (1)(A)
shall be awarded biennially to the most significant advance made in each of the
4 subcategories described in clauses (i) through (v) of paragraph (1)(A) since
the submission deadline of the previous prize competition in the same category
under paragraph (1)(A) or the date of enactment of this Act, whichever is
later, unless no such advance is significant enough to merit an award.</text>
</clause><clause id="id718C8C02CBCD4A83B595CD386C6BBC25"><enum>(ii)</enum><header>Maximum amount
for single prize</header><text display-inline="yes-display-inline">No single
prize described in clause (i) may exceed $2,000,000.</text>
</clause><clause id="id3C4E3084307C46C8A6B98952407E4057"><enum>(iii)</enum><header>Insufficient
total funds</header><text display-inline="yes-display-inline">If less than
$4,000,000 is available for a prize competition under paragraph (1)(A), the
Secretary may—</text>
<subclause id="idEF7F8A45A62D4EF7B0FEED73D6E8CEF7"><enum>(I)</enum><text display-inline="yes-display-inline">omit 1 or more subcategories;</text>
</subclause><subclause id="id128085E6C40146479E710CA23C807BC4"><enum>(II)</enum><text display-inline="yes-display-inline">reduce the amount of the prizes; or</text>
</subclause><subclause id="idF0D1A5EDC98C40FFACBF43345EE370F1"><enum>(III)</enum><text display-inline="yes-display-inline">not hold a prize competition.</text>
</subclause></clause></subparagraph><subparagraph id="H13E24D272D59477BAA8939EAC5F0FAF1"><enum>(B)</enum><header>Prototypes</header>
<clause id="id5AE5DF9FAC9D43B389B63B1F14343F1A"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">To the extent
permitted under subsection (c)(5), prizes authorized under paragraph (1)(B)
shall be awarded biennially in alternate years from the prizes authorized under
paragraph (1)(A).</text>
</clause><clause id="idAC4EB51485C2423FA44D9392693EB0DE"><enum>(ii)</enum><header>Total number
of prizes</header><text display-inline="yes-display-inline">The Secretary may
award no more than 1 prize under paragraph (1)(A) in each 2-year period.</text>
</clause><clause id="idECB0C61006D84EB9844711765230D1B4"><enum>(iii)</enum><header>Maximum
amount for single prize</header><text display-inline="yes-display-inline">No
single prize under this subparagraph may exceed $8,000,000.</text>
</clause><clause id="id558382C87CB4426B92E573F1B88D3C46"><enum>(iv)</enum><header>Insufficient
qualified entries</header><text display-inline="yes-display-inline">If no
registered participant meets the objective performance criteria established
pursuant to paragraph (3) for a competition under this subparagraph, the
Secretary shall not award a prize.</text>
</clause></subparagraph><subparagraph id="H5A90CB04047D4E5088F6E9C418CF2216"><enum>(C)</enum><header>Transformational
technologies</header>
<clause id="id0E429FB5460C4D2087ADCA0331C10B31"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">To the extent
permitted under subsection (c)(5), the Secretary shall announce 1 prize
competition authorized under paragraph (1)(C) as soon as practicable after the
date of enactment of this Act.</text>
</clause><clause id="id86E3016663AD41B69380A9FD6AB4A8D8"><enum>(ii)</enum><header>Amount of
prize</header><text display-inline="yes-display-inline">A prize offered under
this subparagraph shall—</text>
<subclause id="id4DDD720E94A445D1A747A4AB0F8744CA"><enum>(I)</enum><text display-inline="yes-display-inline">be in an amount not less than
$2,000,000;</text>
</subclause><subclause id="id89ABCBDC103943D0A04C8016134CFD72"><enum>(II)</enum><text display-inline="yes-display-inline">be paid to the winner in a lump sum;
and</text>
</subclause><subclause id="idC0D6ED560C544727B7BF67DDC20C0731"><enum>(III)</enum><text display-inline="yes-display-inline">include an additional amount paid to the
winner as a match for each dollar of non-Federal funding raised by the winner
for the hydrogen technology beginning on the date the winner was named.</text>
</subclause></clause><clause id="id05F218DD50044F3E92E33E4E4C991F31"><enum>(iii)</enum><header>Matching</header>
<subclause id="idFC72E1539C5F4BB2858513B81DF406F1"><enum>(I)</enum><header>In
general</header><text display-inline="yes-display-inline">The match described
in clause (ii)(III) shall be provided until the earlier of—</text>
<item id="id28F88D9B13A74B149CBB69430B058899"><enum>(aa)</enum><text display-inline="yes-display-inline">the date that is 3 years after the date the
prize winner is named; or</text>
</item><item id="idD6D3CC35F96940C29299D21A47374327"><enum>(bb)</enum><text display-inline="yes-display-inline">the date on which the full amount of the
prize has been paid out.</text>
</item></subclause><subclause id="idD5D3D44A88634210B064583A62B8F474"><enum>(II)</enum><header>Election</header><text display-inline="yes-display-inline">A prize winner may elect to have the match
amount paid to another entity that is continuing the development of the winning
technology.</text>
</subclause><subclause id="idF363FE8A38774E4EA1ADD3FD1BA0BCC3"><enum>(III)</enum><header>Rules</header><text display-inline="yes-display-inline">The Secretary shall announce the rules for
receiving the match in the notice required by subsection (c)(2)(B).</text>
</subclause></clause><clause id="idACD72C26F65547C3A62320DAC9CEBDD7"><enum>(iv)</enum><header>Requirements</header><text display-inline="yes-display-inline">The Secretary shall award a prize under
this subparagraph only when a registered participant has met the objective
criteria established for the prize pursuant to paragraph (3) and announced
pursuant to subsection (c)(2)(B).</text>
</clause><clause id="id10EE6BFDA91441CC96FD58B201E205FE"><enum>(v)</enum><header>Total amount of
funds</header>
<subclause id="id753D0855C78F4107984D78BBFB54A29E"><enum>(I)</enum><header>Federal
funds</header><text display-inline="yes-display-inline">Not more than
$20,000,000 in Federal funds may be used for the prize award under this
subparagraph.</text>
</subclause><subclause id="id8B9F74769EF4492CB618FBB41AA9D03A"><enum>(II)</enum><header>Matching
funds</header><text display-inline="yes-display-inline">As a condition of
entering into an agreement under subsection (c)(3), the administering entity
shall seek to raise $40,000,000 in non-Federal funds toward the matching award
under this subparagraph.</text>
</subclause></clause></subparagraph></paragraph><paragraph id="H240E24F67B09427283012BEC3C91F412"><enum>(3)</enum><header>Criteria</header><text display-inline="yes-display-inline">In establishing the criteria required by
this section, the Secretary shall consult with—</text>
<subparagraph id="HF9305C74099448FBB2D692D419004CE9"><enum>(A)</enum><text>the Hydrogen
Technical and Fuel Cell Advisory Committee of the Department;</text>
</subparagraph><subparagraph id="H3F1F6A640B69403AA8ED0008235EC752"><enum>(B)</enum><text>other Federal
agencies, including the National Science Foundation; and</text>
</subparagraph><subparagraph id="HDD7EB46A93064DD6914DC745DD2C438"><enum>(C)</enum><text>private
organizations, including professional societies, industry associations, the
National Academy of Sciences, and the National Academy of Engineering.</text>
</subparagraph></paragraph><paragraph id="H1D1DB48E447F481E8100DB8E7CF16352"><enum>(4)</enum><header>Judges</header>
<subparagraph id="id599E6D8568F74EA2B0BEAD2D9EB5FE71"><enum>(A)</enum><header>In
general</header><text>For each prize competition, the Secretary shall assemble
a panel of qualified judges to select the 1 or more winners on the basis of the
criteria established under paragraph (3).</text>
</subparagraph><subparagraph id="id25610DA43EEC4662973050CDCE55C296"><enum>(B)</enum><header>Inclusions</header><text>Judges
for each prize competition shall include individuals from outside the
Department, including from the private sector.</text>
</subparagraph><subparagraph id="idC5E1BA3508DF44B1B037B1899255C5DE"><enum>(C)</enum><header>Prohibitions</header><text>A
judge may not—</text>
<clause id="H00F43E8654A54603AFA527A6F4B39179"><enum>(i)</enum><text display-inline="yes-display-inline">have personal or financial interests in, or
be an employee, officer, director, or agent of, any entity that is a registered
participant in the prize competition for which the judge will serve as a judge;
or</text>
</clause><clause id="HBD40C45FC0A84B21A2D3E568FB46FF7"><enum>(ii)</enum><text display-inline="yes-display-inline">have a familial or financial relationship
with an individual who is a registered participant in the prize competition for
which the judge will serve as a judge.</text>
</clause></subparagraph></paragraph></subsection><subsection id="H4BB8D9894C60400FBA8D17672CA400F3"><enum>(e)</enum><header>Eligibility</header><text display-inline="yes-display-inline">To be eligible to win a prize under this
section, an individual or entity—</text>
<paragraph id="H14D0F1A85EA043419F4BABC1A0832E78"><enum>(1)</enum><text display-inline="yes-display-inline">shall have complied with all the
requirements in accordance with the Federal Register notice required under
subsection (c)(2)(B);</text>
<subparagraph id="HC47D1CBEC6E640CC95BF215173079606"><enum>(A)</enum><text>in the case of a
private entity, shall be incorporated in and maintain a primary place of
business in the United States;</text>
</subparagraph><subparagraph id="idCB040EDD06C74922A0C75A4E08F795DD"><enum>(B)</enum><text>in the case of an
individual (whether participating singly or in a group), shall be a citizen of,
or an alien lawfully admitted for permanent residence in, the United States;
and</text>
</subparagraph><subparagraph id="H7ECC76D40779485E8986EB5632EF5846"><enum>(C)</enum><text display-inline="yes-display-inline">shall not be a Federal entity, a Federal
employee acting within the scope of employment, or an employee of a national
laboratory acting within the scope of employment.</text>
</subparagraph></paragraph></subsection><subsection id="H6E3BC1470B744048A5D7C7333028D928"><enum>(f)</enum><header>Intellectual
property</header>
<paragraph id="id042CAF41C8CE463E8C2185342B40319B"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Subject to paragraph
(2), the Federal Government shall not, by virtue of offering or awarding a
prize under this section, be entitled to any intellectual property rights
derived as a consequence of, or direct relation to, the participation by a
registered participant in a competition authorized by this section.</text>
</paragraph><paragraph id="id3244B0B9ACBA4924A50372C21EFB5640"><enum>(2)</enum><header>Negotiation of
licenses permitted</header><text display-inline="yes-display-inline">This
subsection does not prevent the Federal Government from negotiating a license
for the use of intellectual property developed for a prize competition under
this section.</text>
</paragraph></subsection><subsection id="HCC0ADD7DF1844E55AFA9B0372DBD853E"><enum>(g)</enum><header>Liability</header>
<paragraph id="H18CDE6AD8C714AD6848400C2AA4C5016"><enum>(1)</enum><header>Waiver of
Liability</header>
<subparagraph id="idEADCE00345EF4CD3ADAEC85F99991869"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">As a condition of
participation in a competition under this section, the Secretary may require
registered participants to waive claims against the Federal Government and the
administering entity (except claims for willful misconduct) for any injury,
death, damage, or loss of property, revenue, or profits arising from the
participation of the registered participants in a competition under this
section.</text>
</subparagraph><subparagraph id="id88977349B4F741E180441C79DF029998"><enum>(B)</enum><header>Notice
required</header><text display-inline="yes-display-inline">The Secretary shall
provide notice of any waiver required under this paragraph in the notice
required by subsection (c)(2)(B).</text>
</subparagraph><subparagraph id="id728E732922B4475B96A0DCBC21D897EF"><enum>(C)</enum><header>Prohibition</header><text display-inline="yes-display-inline">The Secretary may not require a registered
participant to waive claims against the administering entity arising out of the
unauthorized use or disclosure by the administering entity of the intellectual
property, trade secrets, or confidential business information of the registered
participant.</text>
</subparagraph></paragraph><paragraph id="H0206D97FECC9439EB61B50F93D93E1FF"><enum>(2)</enum><header>Liability
Insurance</header>
<subparagraph id="H2F698C6821FB4A7EA694C2E036002001"><enum>(A)</enum><header>Requirements</header><text>As
a condition of participation in a competition under this section, a registered
participant shall be required to obtain liability insurance or demonstrate
financial responsibility, in amounts determined by the Secretary, for claims
by—</text>
<clause id="H3C48FF40A7CC406C99321547C3C700DE"><enum>(i)</enum><text>a
third party for death, bodily injury, or property damage or loss resulting from
an activity carried out in connection with participation in a competition under
this section; and</text>
</clause><clause id="HC9F3824CA36C4EEDB9CD4E15F7F0AC9"><enum>(ii)</enum><text>the
Federal Government for damage or loss to Government property resulting from
such an activity.</text>
</clause></subparagraph><subparagraph id="H06B7E4535AEB43989BD86E33754120C5"><enum>(B)</enum><header>Federal
Government insured</header>
<clause id="idBE213D9015494557A391BE1CE47F3778"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">The Federal
Government shall be named as an additional insured under the insurance policy
of a registered participant required under subparagraph (A)(i).</text>
</clause><clause id="idDC929F378919444E8CA852770A2D89C1"><enum>(ii)</enum><header>Mandatory
indemnification</header><text display-inline="yes-display-inline">As a
condition of participation in a competition under this section, a registered
participant shall be required to agree to indemnify the Federal Government
against third party claims for damages arising from or related to competition
activities.</text>
</clause></subparagraph></paragraph></subsection><subsection id="H2BDC0C08B12E49F28753ED9441078ECF"><enum>(h)</enum><header>Authorization of
appropriations</header>
<paragraph id="HBA32D91B097C415E824576F14BDA8730"><enum>(1)</enum><header>Authorization of
Appropriations</header>
<subparagraph id="H3EAED0FBAD264F9C9E72B96552C14938"><enum>(A)</enum><header>Awards</header><text display-inline="yes-display-inline">There are authorized to be appropriated to
the Secretary to carry out this section for the period of fiscal years 2007
through 2016—</text>
<clause id="H76D812C864564A230095F97300323200"><enum>(i)</enum><text>$20,000,000 for
awards described in subsection (d)(1)(A);</text>
</clause><clause id="H57D4B196CF07437CA7359C955F8F4909"><enum>(ii)</enum><text>$20,000,000 for
awards described in subsection (d)(1)(B); and</text>
</clause><clause id="H05405A08378F4C46810000FACEC897A2"><enum>(iii)</enum><text>$10,000,000 for
the award described in subsection (d)(1)(C).</text>
</clause></subparagraph><subparagraph id="HBF6AE85CB5B34CAB8ECDC298F3574C28"><enum>(B)</enum><header>Administration</header><text>In
addition to the amounts authorized in subparagraph (A), there are authorized to
be appropriated to the Secretary for the administrative costs of carrying out
this section $2,000,000 for each of fiscal years 2007 through 2016.</text>
</subparagraph></paragraph><paragraph id="H28B03CC5BBDB417CB07DAE4448C2505"><enum>(2)</enum><header>Carryover of
funds</header>
<subparagraph id="idDC7F18AEF521424D8DE65FC3DB0697DE"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">Funds appropriated
for prize awards under this section—</text>
<clause id="id2759147848894E3D9C0BA5A1B993B70E"><enum>(i)</enum><text display-inline="yes-display-inline">shall remain available until expended;
and</text>
</clause><clause id="id10C80DC098AB4BBF8FB07C524E44FB20"><enum>(ii)</enum><text display-inline="yes-display-inline">may be transferred, reprogrammed, or
expended for other purposes only after the expiration of 10 fiscal years after
the fiscal year for which the funds were originally appropriated.</text>
</clause></subparagraph><subparagraph id="idA6C11EDDF8504C2B8DEDBDA727808112"><enum>(B)</enum><header>Relation to
other law</header><text display-inline="yes-display-inline">No provision in
this section permits obligation or payment of funds in violation of section
1341 of title 31, United States Code (commonly known as the
<quote>Anti-Deficiency Act</quote>).</text>
</subparagraph></paragraph></subsection><subsection id="H8FA2CE9B8362494AA7496377169C5216"><enum>(i)</enum><header>Maintenance of
effort</header><text display-inline="yes-display-inline">The Secretary shall
ensure that funds provided under this section will be used only to supplement,
and not to supplant, Federal research and development programs.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H1035C6E6D30747B0A317A6D1DE1C2865"><enum>(j)</enum><header>Sunset</header><text display-inline="yes-display-inline">The authority provided by this section
shall terminate on September 30, 2017.</text>
</subsection></section><section id="id130DEF3A17664B5E93585C00EEE1F078"><enum>522.</enum><header>Credit for
retail sale of hydrogen fuel as motor vehicle fuel</header>
<subsection id="idFCE391FA9EAE443299DDDD6D297EEA47"><enum>(a)</enum><header>In
general</header><text>Subpart D of part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 (relating to business related credits), as
amended by this Act, is amended by inserting after section 45O the following
new section:</text>
<quoted-block id="id441F885D86444BBBA421F0C458383260">
<section id="id888218131D1D4879BAEF4D6BE43A63D6"><enum>45P.</enum><header>Credit for
retail sale of hydrogen as motor vehicle fuel</header>
<subsection id="id94A23633E58C4BBC96D85802C6AB419A"><enum>(a)</enum><header>General
rule</header><text>For purposes of section 38, the hydrogen fuel retail sales
credit for any taxable year is an amount equal to the greater of—</text>
<paragraph id="id351DB5CAC22946F8A5F99C5618F190B4"><enum>(1)</enum><text>20 percent of the
price of hydrogen, or</text>
</paragraph><paragraph id="id72EB7375DE8844B4ACC542638CB91B13"><enum>(2)</enum><text>50 cents for each
quantity of hydrogen having a Btu content of 115,000, sold at retail by the
taxpayer during such year as a fuel to propel any hydrogen fuel cell
vehicle.</text>
</paragraph></subsection><subsection id="idECFC0A03022845EA82A867E09D21071A"><enum>(b)</enum><header>Definitions</header><text>For
purposes of this section—</text>
<paragraph id="id528AF0F5DFD54B27BD160A3DFF73424F"><enum>(1)</enum><header>Hydrogen fuel
cell vehicle</header><text>The term <term>hydrogen fuel cell vehicle</term> has
the meaning given such term in section 136A.</text>
</paragraph><paragraph id="idD8317B6D30844025B175EF036BD0C49D"><enum>(2)</enum><header>Sold at
retail</header>
<subparagraph id="idCE7961C73CF042C2A09DD5EE2BA52A94"><enum>(A)</enum><header>In
general</header><text>The term <term>sold at retail</term> means the sale, for
a purpose other than resale, after manufacture, production, or
importation.</text>
</subparagraph><subparagraph id="idF2511B8FC7DB485A8C893A47E3973274"><enum>(B)</enum><header>Use treated as
sale</header><text>If any person uses hydrogen (including any use after
importation) as a fuel to propel any motor vehicle (as defined in section
30(c)(2)) before such fuel is sold at retail, then such use shall be treated in
the same manner as if such fuel were sold at retail as a fuel to propel such a
vehicle by such person.</text>
</subparagraph></paragraph></subsection><subsection id="id0C73D6C418F24B97B4577F4ACD0DF115"><enum>(c)</enum><header>Pass-thru in
the case of estates and trusts</header><text>Under regulations prescribed by
the Secretary, rules similar to the rules of subsection (d) of section 52 shall
apply.</text>
</subsection><subsection id="id983136FC25C442E28528F7D5462F7905"><enum>(d)</enum><header>Termination</header><text>This
section shall not apply to any fuel sold at retail after December 31,
2014.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idFA3D58685A274A60922955647CDF3D46"><enum>(b)</enum><header>Credit treated
as business credit</header><text>Section 38(b) of the Internal Revenue Code of
1986, as amended by this Act, is amended by striking <quote>plus</quote> at the
end of paragraph (31), by striking the period at the end of paragraph (32) and
inserting <quote>, plus</quote>, and by adding at the end the following new
paragraph:</text>
<quoted-block id="idCC2F83DBAFA54E77986D934DEDA0E62F">
<paragraph id="idC1F0C27B326C419DB086C48391189797"><enum>(33)</enum><text>the hydrogen
fuel retail sales credit determined under section
45P(a).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idF52B1F6C356D450CAA2F3142BCF5945F"><enum>(c)</enum><header>Clerical
amendment</header><text>The table of sections for subpart D of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of 1986, as amended by
this Act, is amended by inserting after the item relating to section 45O the
following new item:</text>
<quoted-block id="id8D43C1515F3548AD9C0E8A75E6820096" style="USC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 45P. Credit for retail sale of
hydrogen as motor vehicle
fuel.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id362284F441554FD883A74533C42753F5"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to fuel sold
at retail after December 31, 2005, in taxable years ending after such
date.</text>
</subsection></section><section id="idB743A28B3CD04182898733FBF31E8CFD"><enum>523.</enum><header>Credit for
production of hydrogen fuel</header>
<subsection id="idECE804612E5A4D66B0B71420DDC83BF8"><enum>(a)</enum><header>Hydrogen
produced from any source</header><text>Section 45K of the Internal Revenue Code
of 1986 (relating to credit for producing fuel from nonconventional sources) is
amended by adding at the end the following new subsection:</text>
<quoted-block id="idA6D4B22CA669494ABCE2B59F50A53533">
<subsection id="id02BC4968DAA9409098D2E327909B1F23"><enum>(h)</enum><header>Hydrogen
fuel</header>
<paragraph id="id52440558CAAA4B049BB2C6820DEC8447"><enum>(1)</enum><header>Hydrogen fuel
produced from any source</header><text>There shall be allowed as a credit
against the tax imposed by this chapter for the taxable year an amount equal
to—</text>
<subparagraph id="id48D8B38A0A574B48856D8ECA7E9C85B6"><enum>(A)</enum><text>$10, multiplied
by</text>
</subparagraph><subparagraph id="idB3A889D933054773BFB53E70B9F41EDF"><enum>(B)</enum><text>each quantity of
hydrogen having a Btu content of 5,800,000—</text>
<clause id="idEDD047156FF4470F84F968A070DF6FC0"><enum>(i)</enum><text>sold by the
taxpayer to an unrelated person during the taxable year, and</text>
</clause><clause id="id89DFD601AB67491BADC802EB58E12EC2"><enum>(ii)</enum><text>the production
of which is attributable to the taxpayer.</text>
</clause></subparagraph></paragraph><paragraph id="idFB10CDE4BC0549329AF5FD70394193EE"><enum>(2)</enum><header>Additional
credit for production from renewable sources</header>
<subparagraph id="idA7181BE360EA4F969CCFD57C2E8FC8D8"><enum>(A)</enum><header>In
general</header><text>In the case of hydrogen which is produced from a
renewable source, paragraph (1)(A) shall be applied by substituting
<quote>$20</quote> for <quote>$10</quote>.</text>
</subparagraph><subparagraph id="idB1EDE442F2EE43DB88B2A2BECDE1B46E"><enum>(B)</enum><header>Renewable
source</header>
<clause id="id57B858B59CAB4699B7D572031AB9B6D6"><enum>(i)</enum><header>In
general</header><text>The term <term>renewable source</term> means solar, wind,
ocean, geothermal energy, biomass, landfill gas, or incremental
hydropower.</text>
</clause><clause id="idE0DB1B5BBDD64773B0703FFEA8387440"><enum>(ii)</enum><header>Incremental
hydropower</header><text>The term <term>incremental hydropower</term> means
additional generating capacity achieved from increased efficiency or additions
of new capacity at a hydroelectric facility in existence on the date of
enactment of this paragraph.</text>
</clause></subparagraph></paragraph><paragraph id="idBA11A671DFCB4600820D37E793925CE8"><enum>(3)</enum><header>Exclusion on
sale for certain uses</header><text>No credit shall be allowed under this
subsection for hydrogen fuel sold by the taxpayer the use of which is for the
production or refining of other petroleum products.</text>
</paragraph><paragraph id="id93C949AD9878482E992FDC4C7D16A524"><enum>(4)</enum><header>Termination</header><text>This
subsection shall not apply to hydrogen fuel produced after December 31,
2014.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idE4830462267449DBABA09DEB5A5BDC27"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to hydrogen
produced after December 31, 2005, in taxable years ending after such
date.</text>
</subsection></section><section id="id3928273163E54EE1BF6772DB284E04AF"><enum>524.</enum><header>Tax holiday
for hydrogen fuel</header>
<subsection id="id1579A3EDA38742FD853823650F5B018C"><enum>(a)</enum><header>In
general</header><text>Subchapter B of chapter 65 of the Internal Revenue Code
of 1986 (relating to abatements, credits, and refunds) is amended by adding at
the end the following new section:</text>
<quoted-block id="id8C113349196E4357B3837689D24182C8">
<section id="id46E13ED0CAE445D5995B4A0A8704537B"><enum>6431.</enum><header>Fuels used in
hydrogen powered vehicles</header>
<subsection id="idE489840418DE4692A3A55C11BB1625BF"><enum>(a)</enum><header>In
general</header><text>If any fuel taxable under section 4041 or 4081 is used to
produce hydrogen as a means of propelling a hydrogen fuel cell vehicle during
the applicable period, the Secretary shall pay (without interest) to the
ultimate purchaser of such fuel an amount equal to the amount determined by
multiplying the number of gallons so used by the rate at which tax was imposed
on such fuel under section 4041 or 4081.</text>
</subsection><subsection id="idB9F3AC8E989F4987835F03B53B10737F"><enum>(b)</enum><header>Applicable
period</header><text>The term <term>applicable period</term> means the period
beginning after the date of the enactment of this section and ending before
January 1, 2014.</text>
</subsection><subsection id="idDDA404F09D6E470C95F823FDF9639BC1"><enum>(c)</enum><header>Hydrogen fuel
cell vehicle</header><text>The term <term>hydrogen fuel cell vehicle</term> has
the meaning given such term by section
136A(b)(1).</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idF28A10B95FD4403B836F8773657F3F6F"><enum>(b)</enum><header>Conforming
amendment</header><text>The table of sections for subchapter B of chapter 65 of
the Internal Revenue Code of 1986 is amended by inserting after the item
relating to section 6428 the following new item:</text>
<quoted-block id="id86A9EB54CC4A49F0967B5AFF6EA9BAA7" style="USC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 6431. Fuels used in hydrogen powered
vehicles.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idA944922272D041F49CD6E3D56ED5181B"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to fuel
produced after the date of the enactment of this Act.</text>
</subsection></section><section id="idE891E543529744AEA8551E284D913B9A"><enum>525.</enum><header>Sense of
Congress regarding hydrogen fuel taxes</header><text display-inline="no-display-inline">It is the sense of Congress that no tax
should be imposed on hydrogen fuel before January 1, 2014.</text>
</section><section id="id65968181D5FB4DB8B0A59B5CA1376055"><enum>526.</enum><header>Hydrogen
fueling fringe benefit</header>
<subsection id="id39F2F51B515C4D6E8BD5AA24FB00AADD"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 132(c) of the Internal Revenue
Code of 1986 (relating to qualified employee discounts) is amended by striking
<quote>or</quote> at the end of subparagraph (A), by striking the period and
inserting <quote>, or</quote> at the end of subparagraph (B), and by adding at
the end the following new subparagraph:</text>
<quoted-block id="idBA8F7A66AEA0445AA7E49F57FA508EF5">
<subparagraph id="idB007A839BCCF4700B3BC3F2A276634C8"><enum>(C)</enum><text>in the case of
hydrogen fuel, 50 percent of the price at which such fuel is being offered by
the employer to
customers.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id06909EB8045B4FAD9D9F0F5F3DB748AB"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2005.</text>
</subsection></section><section id="id8DEF00498BED4347A14EF8450C0B896F"><enum>527.</enum><header>Exclusion of
earnings from hydrogen fuel sales</header>
<subsection id="id5404F916E61644798D921F17B011FBA6"><enum>(a)</enum><header>In
general</header><text>Part III of subchapter B of chapter 1 of the Internal
Revenue Code of 1986 (relating to items specifically excluded from gross
income) is amended by inserting after section 136 the following new
section:</text>
<quoted-block id="id1CD6D18068CD4FA2B1901C7410A10B6F">
<section id="id62782DD00AB1423FB1FEAC0262086EE9"><enum>136A.</enum><header>Income from
hydrogen fuel sales</header>
<subsection id="id99AC825670404D95BCE155C814FB7924"><enum>(a)</enum><header>Exclusion</header><text>Gross
income shall not include income attributable to the sale of hydrogen fuel sold
for use in a hydrogen fuel cell vehicle.</text>
</subsection><subsection id="id65E5EC95AEA74224813412D7F41E2F6C"><enum>(b)</enum><header>Hydrogen fuel
cell vehicle</header><text>For purposes of this section, the term
<term>hydrogen fuel cell vehicle</term> means a motor vehicle (as defined in
section 30(c)(2)) which is propelled by power derived from 1 or more cells
which convert chemical energy directly into electricity by combining oxygen
with hydrogen fuel which is stored on board the vehicle in any form and may or
may not require reformation prior to use.</text>
</subsection><subsection id="id5A33DFF5464447C1BBBB973DBE530A19"><enum>(c)</enum><header>Termination</header><text>This
section shall not apply to income attributable to sales after December 31,
2014.</text>
</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idDC0F5F6BBC5B4FA19EBCDF2611BECF2A"><enum>(b)</enum><header>Conforming
amendment</header><text>The table of sections for subpart B of part III of
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by
inserting after the item relating to section 136 the following new item:</text>
<quoted-block id="id6C151987B92F48ED90A5DBE6C165874A" style="USC">
<toc regeneration="no-regeneration">
<toc-entry level="section">Sec. 136A. Income from hydrogen fuel
sales.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id1DC2EBF892EE4277AA68DC8422B72CAF"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to income
received after December 31, 2005, in taxable years ending after such
date.</text>
</subsection></section></subtitle><subtitle id="id4EDC61C213A9419B87E13D10B45DA868"><enum>E</enum><header>Building the
skilled workforce for advanced vehicle and energy technology
deployment</header>
<section id="idABA7E094D0E14430913B4675AA0A5B00"><enum>531.</enum><header>Increasing
skilled workforce</header>
<subsection id="id7DF2BF309ECD46EF8AB6CE0039F32C04"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="id613B28F65CB14856AFC9F1C22A4D244C"><enum>(1)</enum><header>Administrator</header><text>The
term <term>Administrator</term> means the Administrator of the Environmental
Protection Agency.</text>
</paragraph><paragraph id="id5E45E0AE8BB54EAABDC27117306E4696"><enum>(2)</enum><header>Center of
excellence</header><text>The term <term>center of excellence</term> means a
facility established by an eligible entity at which 1 or more qualifying
programs are or will be carried out.</text>
</paragraph><paragraph id="idCDB3340D93BE4DD3ADB668CC0C5F6EC7"><enum>(3)</enum><header>Eligible
entity</header><text>The term <term>eligible entity</term> means—</text>
<subparagraph id="idF72AFC0CD5734FCAAFAF751C72B08B23"><enum>(A)</enum><text>a Federal agency
(other than the Department of Energy);</text>
</subparagraph><subparagraph id="idF5ECDAAD023845E997711036C81AB2CD"><enum>(B)</enum><text>a unit of State
or local government;</text>
</subparagraph><subparagraph id="id2BC6BFD65476473BAAF1E94E1F37CD09"><enum>(C)</enum><text>an institution of
higher education; and</text>
</subparagraph><subparagraph id="idE63C6A6F092545EEA44E6CB6B3E5A56F"><enum>(D)</enum><text>a public
elementary school or secondary school.</text>
</subparagraph></paragraph><paragraph id="id727A47B607B34B709321F7B07CFF57BD"><enum>(4)</enum><header>Qualifying
program</header><text>The term <term>qualifying program</term> means a
continuing education program, or any other education or training program, that
is—</text>
<subparagraph id="id730E483E98F2498F9C1F5FAD51BE26B8"><enum>(A)</enum><text>carried out by an
institution or organization certified under subsection (d); and</text>
</subparagraph><subparagraph id="id0DC5DCF95E1D4E59A782DAB34519C925"><enum>(B)</enum><text>designed to
increase the skilled workforce of the United States with respect to—</text>
<clause id="idEB13DDA0BBA649AFA1E829B9C05496E4"><enum>(i)</enum><text>advanced vehicle
manufacturing;</text>
</clause><clause id="idCC48BA82C8A84BAE9977B67DABCD63CC"><enum>(ii)</enum><text>alternative fuel
vehicle repair and maintenance; or</text>
</clause><clause id="idFF888CF037854A4DB70F55000BAE9963"><enum>(iii)</enum><text>energy
technology product development and deployment.</text>
</clause></subparagraph></paragraph><paragraph id="id55BE4087E011486DA85DC28C1C63833A"><enum>(5)</enum><header>Secretary</header><text>The
term <term>Secretary</term> means the Secretary of Energy.</text>
</paragraph></subsection><subsection id="id3CC3CE1335714B80BC11F38E5A70C6F4"><enum>(b)</enum><header>Centers of
excellence</header>
<paragraph id="id9012A9AF26784CEA964FA41F1ECD310E"><enum>(1)</enum><header>Establishment</header><text>The
Secretary shall establish a program under which the Secretary shall provide
grants to eligible entities to establish and operate or support centers of
excellence in the jurisdiction of the eligible entity.</text>
</paragraph><paragraph id="id40C952FB1C5B43FCAA928345FEB89F43"><enum>(2)</enum><header>Application</header><text>To
be eligible to receive a grant under paragraph (1), an eligible entity
shall—</text>
<subparagraph id="id4E18C110E3E445179D1991B144C70E62"><enum>(A)</enum><text>submit to the
Secretary an application at such time, in such manner, and containing such
information as the Secretary may require; and</text>
</subparagraph><subparagraph id="id0140C511453A4330BC2D39F42607482D"><enum>(B)</enum><text>enter into an
agreement with the Secretary relating to the establishment and operation or
support of the center of excellence of the eligible entity.</text>
</subparagraph></paragraph><paragraph id="id7145B85221D14DE5B846636D86D95CBB"><enum>(3)</enum><header>Authorization
of appropriations</header><text>There is authorized to be appropriated to carry
out this subsection $50,000,000 for each of fiscal years 2007 through
2016.</text>
</paragraph></subsection><subsection id="idD79FF33D3F224B2FBB4962F9241636F7"><enum>(c)</enum><header>Tuition
reimbursement</header>
<paragraph id="id010ED3AF45DF4C27B102A4A5A14CEA60"><enum>(1)</enum><header>In
general</header><text>The Secretary shall provide to any individual that
participates in a qualifying program reimbursement in the amount of the tuition
paid by the individual for the qualifying program.</text>
</paragraph><paragraph id="idB23E932D952F49988D1EEE1849DD8645"><enum>(2)</enum><header>Application</header><text>To
be eligible to receive reimbursement under this subsection, an individual that
participates in a qualifying program shall submit to the Secretary an
application at such time, in such manner, and containing such information as
the Secretary may require.</text>
</paragraph></subsection><subsection id="id4DB10F6128E64ADCB6493A1B7B54FEE2"><enum>(d)</enum><header>Certification
procedure</header><text>As soon as practicable after the date of enactment of
this Act, the Secretary, in coordination with the Secretary of Labor and the
Administrator and in consultation with affected labor unions, professional
societies, academic institutions, and businesses, shall develop a procedure
under which the Secretary, the Secretary of Labor, and the Administrator shall
jointly certify institutions and organizations to carry out qualifying
programs.</text>
</subsection><subsection id="id24FF446F74264A25AE702A4F26E84042"><enum>(e)</enum><header>Tax
credits</header><text>The Secretary, in coordination with the Secretary of the
Treasury, shall submit to Congress proposed legislation to establish a tax
credit for individuals, eligible entities, and institutions and organizations
certified under subsection (d) for establishing, carrying out, or participating
in qualifying programs or centers of excellence.</text>
</subsection></section><section id="IDad91b697fbf34fa18dbcc7afce90bf57"><enum>532.</enum><header>Grant program
for green building and zero-energy home design and construction
training</header>
<subsection id="ID3a08bb3952f5430288e7f4b321b4421d"><enum>(a)</enum><header>In
general</header><text>The Secretary of Education, in consultation with the
Secretary of Energy, may award grants to postsecondary educational institutions
to enable the institutions to train 10,000 individuals in green building and
zero-energy home design and construction by fiscal year 2011.</text>
</subsection><subsection id="IDb3e95d34e39844d084bd231863e1e9c7"><enum>(b)</enum><header>Application</header><text>A
postsecondary educational institution that desires to receive a grant under
this section shall submit an application to the Secretary of Education at such
time, in such manner, and accompanied by such information as the Secretary of
Education may reasonably require.</text>
</subsection><subsection id="ID9bc8ef9d930c413f8672966266b71b7a"><enum>(c)</enum><header>Reimbursement</header>
<paragraph id="ID06bea10a5c1d47a2a523330f92755fec"><enum>(1)</enum><header>In
general</header><text>A postsecondary educational institution that receives a
grant under this section shall use the grant funds to reimburse an individual
who completes training in zero-energy home design and construction at, and
receives accreditation as a green building professional from, the institution
for an amount that is not more than 50 percent of the amount the individual
paid to receive the training at the institution.</text>
</paragraph><paragraph id="IDc68b2a4cbda547ecb8156d7eaeb9378f"><enum>(2)</enum><header>Determination
of amount</header><text>For purposes of calculating the amount of the
reimbursement under paragraph (1), the amount the individual paid to receive
the training at the institution shall be reduced by the amount of any other
grants received by the individual for the training.</text>
</paragraph><paragraph id="ID8f7a053d3f564c82b96ee617660db904"><enum>(3)</enum><header>Effect on other
Federal loans</header><text>A reimbursement provided to an individual under
paragraph (1) shall not affect the eligibility of the individual for other
Federal loans, including student loans.</text>
</paragraph></subsection><subsection id="id0A4CDF3B108B45CEA1605D0E5FC4B017"><enum>(d)</enum><header>Renewable
energy certification and training</header><text>The Secretary of Energy, in
consultation with the Secretary of Education and the heads of other appropriate
agencies, shall prepare and implement a plan for—</text>
<paragraph id="id559C540B92A048BD920FC5DE695A5C50"><enum>(1)</enum><text>certifying
renewable energy products and equipment; and</text>
</paragraph><paragraph id="idF50FAE33722C42769D06CAA097787299"><enum>(2)</enum><text>developing
appropriate voluntary standards and training programs for renewable energy
product and equipment installation and installers.</text>
</paragraph></subsection><subsection id="ID1a8de683ed39461cadfd2b9f87186629"><enum>(e)</enum><header>Authorization
of appropriations</header><text>There are authorized to be appropriated such
sums as are necessary to carry out this section.</text>
</subsection></section></subtitle><subtitle id="id43182E33F1DF4962AF877376621CF4F7"><enum>F</enum><header>Clean Energy
Investment Administration</header>
<section id="id32C15C5DF8034C3EAAF3EE6EDCB9315D"><enum>541.</enum><header>Definitions</header><text display-inline="no-display-inline">In this subtitle:</text>
<paragraph id="id5551362207D349C6967A3190C555ADCE"><enum>(1)</enum><header>Administrator</header><text>The
term <term>Administrator</term> means the Administrator of the CEIA appointed
under section 542(b)(1)(A).</text>
</paragraph><paragraph id="id3C55C451DDBC4F97903345F5A23AE33B"><enum>(2)</enum><header>CEIA</header><text>The
term <term>CEIA</term> means the Clean Energy Investment Administration
established by section 542(a)(1).</text>
</paragraph><paragraph id="idE5FA1028ED9C4FC9A49AC725E36077BF"><enum>(3)</enum><header>Commercial
deployment project</header><text>The term <term>commercial deployment
project</term> means any project using commercial technology relating to any of
the following:</text>
<subparagraph id="ID9a29242c36194b59854a048749e89577"><enum>(A)</enum><text>Renewable
electric power systems based on wind, solar, biomass, or geothermal
energy.</text>
</subparagraph><subparagraph id="ID91e4ebfd2d424687b8a2effaa1b28826"><enum>(B)</enum><text>Component and
subcomponent manufacturing and conversion of manufacturing facilities for
production of renewable electric power systems based on wind, solar, biomass,
or geothermal energy.</text>
</subparagraph><subparagraph id="ID9799a309dba8498daa0b8f5b3cd3fa1e"><enum>(C)</enum><text>Efficient
electrical generation, transmission, and distribution technologies.</text>
</subparagraph><subparagraph id="ID4295250699d14f3ebd56d64048184ab9"><enum>(D)</enum><text>Efficient end-use
electric power technologies.</text>
</subparagraph></paragraph><paragraph id="ID0257008c14d849d495b8fd29905425b1"><enum>(4)</enum><header>Commercial
technology</header><text>The term <term>commercial technology</term> means a
technology demonstrated as technologically and commercially viable in at least
1 commercial-scale prototype.</text>
</paragraph><paragraph id="ID739d4bbd65114e97b61923c1fac67c6d"><enum>(5)</enum><header>Cost</header><text>The
term <term>cost</term> has the meaning given the term <term>cost of a loan
guarantee</term> within the meaning of section 502(5)(C) of the Federal Credit
Reform Act of 1990 (2 U.S.C. 661a(5)(C)).</text>
</paragraph><paragraph id="id1FE122BCBB424DAE831CFEB5D657B233"><enum>(6)</enum><header>Demonstration
project</header><text>The term <term>demonstration project</term> means any
project using demonstration technology relating to any of the following:</text>
<subparagraph id="id0BBDCFB38F5E47659D58559C03BECC18"><enum>(A)</enum><text>Renewable
electric power systems based on wind, solar, biomass, or geothermal
energy.</text>
</subparagraph><subparagraph id="IDc9f4d3ed3e3e4cc693ada7b0253cde3b"><enum>(B)</enum><text>Component and
subcomponent manufacturing for wind, solar, biomass, and geothermal renewable
energy systems.</text>
</subparagraph><subparagraph id="IDbfdfd4d0297d4570b19c99b17ffc9bd4"><enum>(C)</enum><text>Integrated
gasification and combined-cycle systems.</text>
</subparagraph><subparagraph id="ID600583d358644b89b89750f0393a3178"><enum>(D)</enum><text>Hydrogen fuel
cell technology for residential, industrial, or transportation
applications.</text>
</subparagraph><subparagraph id="IDbd9efba7b9144dc98e66d3ef3add70a1"><enum>(E)</enum><text>Carbon capture
and sequestration practices and technologies, including agricultural and
forestry practices that store and sequester carbon.</text>
</subparagraph><subparagraph id="IDb8cd8110a07e4dc080e05d27c4df1f67"><enum>(F)</enum><text>Efficient
electrical generation, transmission, and distribution technologies, including
component and subcomponent manufacturing.</text>
</subparagraph><subparagraph id="ID393d0d6f97f04b258e6f170c49ecfe47"><enum>(G)</enum><text>Efficient end-use
energy technologies.</text>
</subparagraph></paragraph><paragraph id="ID28165c5a7cd248ee82d0d3fe7a33653f"><enum>(7)</enum><header>Demonstration
technology</header><text>The term <term>demonstration technology</term> means a
scientifically-viable technology that has not yet been demonstrated as a
commercial scale prototype.</text>
</paragraph><paragraph id="IDbae172a90e0344a3ac4f18cbfc131437"><enum>(8)</enum><header>Eligible
project</header><text>The term <term>eligible project</term> means—</text>
<subparagraph id="idD52753A2D9F04475A484977D08A0DA8F"><enum>(A)</enum><text>a project
described in section 544;</text>
</subparagraph><subparagraph id="IDf73025d4dddd4b1f8175e00c4074d57c"><enum>(B)</enum><text>any demonstration
project that employs new or significantly improved technologies as compared to
commercial technologies in services in the United States at the time at which
the loan guarantee is issued, as determined by the Administrator;</text>
</subparagraph><subparagraph id="IDa979ea54b2c345a194757ea83a4b71da"><enum>(C)</enum><text>any commercial
deployment project that employs technologies that have been demonstrated as
viable in at least 1 commercial-scale prototype, as determined by the
Administrator; and</text>
</subparagraph><subparagraph id="id066B9FC3262441FBAD97C6E247573273"><enum>(D)</enum><text>with respect to
any demonstration project or commercial deployment project for which a loan
guarantee is sought under this subsection, a project that—</text>
<clause id="id817A29FCF6D947FDA6B71CBE483CB62F"><enum>(i)</enum><text>avoids or reduces
energy imports;</text>
</clause><clause id="IDd77f0e1466b94acc872cfa8bd851fe1a"><enum>(ii)</enum><text>creates jobs
paying the prevailing wage for similar work in the region in which the project
is located; or</text>
</clause><clause id="IDbe3fd313dbab4c7c9d8308e362e31071"><enum>(iii)</enum><text>avoids,
reduces, or sequesters air pollutants or anthropogenic emissions of greenhouse
gases.</text>
</clause></subparagraph></paragraph><paragraph id="IDcd6e617dd5834f70b195a8b0efa705bd"><enum>(9)</enum><header>Loan
guarantee</header>
<subparagraph id="IDa310d46199cb49ffaee33fbefcff2114"><enum>(A)</enum><header>In
general</header><text>The term <term>loan guarantee</term> has the meaning
given the term <term>loan guarantee</term> in section 502 of the Federal Credit
Reform Act of 1990 (2 U.S.C. 661a).</text>
</subparagraph><subparagraph id="IDa159de5b09d640ad9c2e16f8178fa1e0"><enum>(B)</enum><header>Inclusion</header><text>The
term <term>loan guarantee</term> includes a loan guarantee commitment (as
defined in section 502 of the Federal Credit Reform Act of 1990 (2 U.S.C.
661a)).</text>
</subparagraph></paragraph><paragraph id="IDfe2f7a8a20d1453994a66f72300e9f96"><enum>(10)</enum><header>Obligation</header><text>The
term <term>obligation</term> means the loan or other debt obligation that is
guaranteed under this section.</text>
</paragraph><paragraph id="ID219d9f06cfbf44f5a4a1d908253aeacb"><enum>(11)</enum><header>Success
warrant</header><text>The term <term>success warrant</term> means equity in
clean energy ventures that are successful as a result of this Act.</text>
</paragraph></section><section id="ID77a9bcb54bdf45798e237119b5a98e33"><enum>542.</enum><header>Clean Energy
Investment Administration</header>
<subsection id="ID29481302f7cb4a55bc5234e200c440d2"><enum>(a)</enum><header>Establishment</header>
<paragraph id="id2FBFB024C2E9489F9EEC6DF4BBEFF341"><enum>(1)</enum><header>In
general</header><text>There is established as an independent agency in the
Executive branch an agency to be known as the <quote>Clean Energy Investment
Administration</quote>.</text>
</paragraph><paragraph id="id9BBA24AFB10144B7ABB22D170248B572"><enum>(2)</enum><header>Supervision and
affiliation</header><text>The CEIA—</text>
<subparagraph id="idC9DA38DC038A4F0797D8812DA6E14374"><enum>(A)</enum><text>shall be under
the direction and supervision of the President; and</text>
</subparagraph><subparagraph id="idF7C81BD10F924179A5081E33EF02EF8A"><enum>(B)</enum><text>shall not be
affiliated with, or be within, any other agency or department of the Federal
Government.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID3315ced11eb34752a3fc85f151b0047f"><enum>(b)</enum><header>Management</header>
<paragraph commented="no" display-inline="no-display-inline" id="id71147F0F065B4C81B09AAAC1262CAE62"><enum>(1)</enum><header>Administrator</header>
<subparagraph commented="no" display-inline="no-display-inline" id="id0F8E33DC4F9B4844AC9A5D861B2F72CB"><enum>(A)</enum><header>In
general</header><text>The CEIA shall be managed by an Administrator, who shall
be a civilian appointed by the President, by and with the advice and consent of
the Senate.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id376227C3A5874A1AB474E035ECA998C7"><enum>(B)</enum><header>Qualifications</header><text>The
Administrator of the CEIA shall be an individual of outstanding qualifications
known to be familiar with and sympathetic to—</text>
<clause commented="no" display-inline="no-display-inline" id="id8C56BEACA80B486AB22CEE80E2872CFF"><enum>(i)</enum><text>clean energy
technology;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id6AAD57E0E3A047C79B5423DBCE1F4ACC"><enum>(ii)</enum><text>clean energy
policy; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id183541D8D6434B54BDB23942A2E78272"><enum>(iii)</enum><text>obstacles to
development of clean energy.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idB887808527D044D689EBDBF517E94071"><enum>(C)</enum><header>Conflicts of
interest</header><text>The Administrator shall not engage in any other
business, vocation, or employment than that of serving as Administrator.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id0A4DD3F3CF084239AF4EB8B0B6ADEA16"><enum>(D)</enum><header>Discrimination</header><text>With
respect to programs carried out by the CEIA—</text>
<clause commented="no" display-inline="no-display-inline" id="idA54818AE6024498483F5BA00F6164634"><enum>(i)</enum><text>in managing those
programs, including grantmaking and guaranteeing programs and functions, the
Administrator shall not discriminate on the basis of sex or marital status
against any person or small business concern applying for or receiving
assistance from the CEIA; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idE59C155D389D46389A43231F3E29F6FF"><enum>(ii)</enum><text>the CEIA shall
give special consideration to veterans of the Armed Forces of the United States
and their survivors or dependents.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id53804B04B8C34737B56FAA23328DF317"><enum>(E)</enum><header>Deputy
administrator</header><text>The President, by and with the advice and consent
of the Senate, may appoint a Deputy Administrator to assist the Administrator
in carrying out the duties of the Administrator under this subtitle.</text>
</subparagraph></paragraph></subsection></section><section id="ID26ac67fe887b481c976dfd713494804d"><enum>543.</enum><header>Requirements
specific to demonstration projects and commercial deployment projects</header>
<subsection id="IDd84a4f2fec164b908cbe2a50ea36cb89"><enum>(a)</enum><header>In
general</header><text>The CEIA shall operate separate financing programs for
eligible projects at the demonstration and commercial stages of
development.</text>
</subsection><subsection id="ID8bab30c0468e4b778bd76b5e77122e30"><enum>(b)</enum><header>Demonstration
projects</header>
<paragraph id="id254FC372F6834C478DE9F43E5B5A0CA0"><enum>(1)</enum><header>In
general</header><text>Subject to paragraph (3) and section 534, the CEIA may
provide to eligible entities (as determined by the Administrator) financing for
demonstration projects in the form of grants, loan guarantees, or both.</text>
</paragraph><paragraph id="id452A00CEF065474D929EE5CC6A121AC0"><enum>(2)</enum><header>Use of
funds</header><text>A recipient of a grant under this subsection may use funds
from the grant to pay—</text>
<subparagraph id="id321226EB4FF945CEA86B770834B2A78A"><enum>(A)</enum><text>the costs of 1 or
more loan guarantees for an eligible project; or</text>
</subparagraph><subparagraph id="idFB18ED8DA20541B58E68A611A1D50393"><enum>(B)</enum><text>not more than 25
percent of the costs of an eligible project.</text>
</subparagraph></paragraph><paragraph id="id400CE296EFBE4196B4C9AFA721012EDE"><enum>(3)</enum><header>Maximum
aggregate loan guarantees</header><text>The aggregate amount of Federal loan
guarantees that may be provided under this subtitle for demonstration projects
shall not exceed $5,000,000,000.</text>
</paragraph><paragraph id="ID8e0a5da8d35d45d9a9df13b8ba0d6ea5"><enum>(4)</enum><header>Maximum funding
percentage for demonstration project categories</header><text>Not more than 25
percent of the grant funds and loan guarantees provided under this subsection
for a fiscal year may be provided to any single category of demonstration
project described in section 531(6).</text>
</paragraph><paragraph id="IDae36b1728b194ad99138e78832805ffa"><enum>(5)</enum><header>Success
warrants</header><text>The developer of a demonstration project under this
subsection may provide to CEIA a success warrant that—</text>
<subparagraph id="id4BDDF1AA0D094CAB8716EDF6B26356AD"><enum>(A)</enum><text>is worth up to 10
percent of the value of Federal loan guarantees secured for the demonstration
project under this subsection; and</text>
</subparagraph><subparagraph id="ID441895e7198b4124a950a2cfdbfd7961"><enum>(B)</enum><text>shall be used by
the CEIA to finance future CEIA loan guarantees.</text>
</subparagraph></paragraph></subsection><subsection id="ID1e6c09117ef9452cbf40d55a08ad796a"><enum>(c)</enum><header>Commercial
deployment projects</header>
<paragraph id="idA5CA9A287EDE474490E37F0EA9B0F006"><enum>(1)</enum><header>In
general</header><text>The CEIA may provide assistance for commercial deployment
projects under this subtitle only in the form of loan guarantees.</text>
</paragraph><paragraph id="id2E75B4BD345242C4A5243BDC52805460"><enum>(2)</enum><header>Maximum
aggregate loan guarantees</header><text>The aggregate amount of loan guarantees
that may be provided under this subtitle for commercial deployment projects
shall not exceed $20,000,000,000.</text>
</paragraph></subsection></section><section id="ID6dbe41fb0c1c49d7b1a4da988933dda4"><enum>544.</enum><header>Loan guarantee
program</header>
<subsection id="ID5651775d5b3f4937b32b0130d202d99d"><enum>(a)</enum><header>In
general</header><text>Except as provided in the Alaska Natural Gas Pipeline Act
(15 U.S.C. 720 et seq.), the Administrator shall make loan guarantees under
this subtitle for eligible projects on such terms and conditions as the
Administrator determines, after consultation with the Secretary of the
Treasury, to be appropriate and in accordance with this section.</text>
</subsection><subsection id="ID0ad4ffeb864d4ae39cb69ede74854436"><enum>(b)</enum><header>Specific
appropriation or contribution</header>
<paragraph id="IDc00022f61e334124a5421da20dc72e41"><enum>(1)</enum><header>Demonstration
projects</header><text>No loan guarantee shall be made for a demonstration
project unless—</text>
<subparagraph id="ID19702c29b540431da4b7441693dd47c1"><enum>(A)</enum><text>an appropriation
for the cost has been made; or</text>
</subparagraph><subparagraph id="idE1984B2B5A6845D5B49FFF7A889562EA"><enum>(B)</enum><text>the Administrator
has—</text>
<clause id="id8EA532361A704DB5A740E8D6D740A831"><enum>(i)</enum><text>received from the
borrower a payment in full for the cost of the obligation; and</text>
</clause><clause id="id434E4BD701F64C34B11A4098A8A9ADE4"><enum>(ii)</enum><text>deposited the
payment in the Treasury.</text>
</clause></subparagraph></paragraph><paragraph id="ID2159853800ad4878b216996afebba4c6"><enum>(2)</enum><header>Commercial
projects</header><text>No loan guarantee shall be made for a commercial
deployment project unless the Administrator has—</text>
<subparagraph id="id8DE50D9165504B5E9ED54897FE601B8F"><enum>(A)</enum><text>received from the
borrower a payment in full for the cost of the obligation; and</text>
</subparagraph><subparagraph id="id66DB49269FFD417FACED0731B9805662"><enum>(B)</enum><text>deposited the
payment in the Treasury.</text>
</subparagraph></paragraph></subsection><subsection id="ID74cbf901c75b4f2191004f67c3dc0e92"><enum>(c)</enum><header>Maximum
amount</header><text>Except as otherwise provided by law, a loan guarantee by
the Administrator for a demonstration project or commercial deployment project
shall not exceed an amount equal to 80 percent of the cost of the facility that
is the subject of the loan guarantee, as estimated at the time at which the
loan guarantee is issued.</text>
</subsection><subsection id="ID7049f2ad33fa4ddfb14b0d03257503b1"><enum>(d)</enum><header>Repayment</header>
<paragraph id="IDf88062c3ef7b4882bc86d794a7e8dfd1"><enum>(1)</enum><header>In
general</header><text>No loan guarantee shall be made under this section unless
the Administrator determines that there is a reasonable prospect of repayment
by the borrower of the principal and interest on the obligation covered by the
loan guarantee.</text>
</paragraph><paragraph id="ID135253856d1a48db98979fb9d6f0901e"><enum>(2)</enum><header>Sufficiency of
amount</header><text>No loan guarantee shall be made under this section unless
the Administrator determines that the amount of the obligation covered by the
loan guarantee (when combined with amounts available to the borrower from other
sources) will be sufficient to carry out the eligible project for which the
loan guarantee is provided.</text>
</paragraph><paragraph id="ID0b473dd27a0b4bf98a0f3eb60809a11a"><enum>(3)</enum><header>Subordination</header><text>A
loan guarantee provided under this section shall be subject to the condition
that the obligation covered by the loan guarantee is not subordinate to other
financing.</text>
</paragraph></subsection><subsection id="ID89f561fe02c34b99a6e2b1ada5fb66bd"><enum>(e)</enum><header>Interest
rate</header><text>An obligation covered by a loan guarantee under this section
shall bear interest at a rate that does not exceed a level that the
Administrator determines to be appropriate, taking into account the prevailing
rate of interest in the private sector for similar loans and risks.</text>
</subsection><subsection id="IDee232f48c189474aac817f05f440300c"><enum>(f)</enum><header>Term</header><text>The
term of an obligation covered by a loan guarantee under this section shall
require full repayment over a period not to exceed the lesser of—</text>
<paragraph id="ID485fc00d447743859d05586a4287540d"><enum>(1)</enum><text>30 years;
or</text>
</paragraph><paragraph id="IDe455a8e90ef249a0babf853fa3b12d62"><enum>(2)</enum><text>90 percent of the
projected useful life of the physical asset to be financed by the obligation
covered by the loan guarantee (as determined by the Administrator).</text>
</paragraph></subsection><subsection id="ID9ab888ece258474580301a5c5ace7080"><enum>(g)</enum><header>Defaults</header>
<paragraph id="ID60880e535a1048b6b1f2a636aaa0da6d"><enum>(1)</enum><header>Payment by
administrator</header>
<subparagraph id="ID46c1ae97f7654d9887b9003564633ed0"><enum>(A)</enum><header>In
general</header><text>If a borrower defaults on an obligation covered by a loan
guarantee under this section (as defined in regulations promulgated by the
Administrator and specified in the loan guarantee contract), the holder of the
loan guarantee shall have the right to demand payment of the unpaid amount from
the Administrator.</text>
</subparagraph><subparagraph id="IDadaa6d4df3b3410f9f785fdbf7361821"><enum>(B)</enum><header>Payment
required</header><text>Within such period as may be specified in the loan
guarantee or related agreements, the Administrator shall pay to the holder of
the loan guarantee the unpaid interest on, and unpaid principal of the
obligation as to which the borrower has defaulted, unless the Administrator
finds that there was no default by the borrower in the payment of interest or
principal or that the default has been remedied.</text>
</subparagraph><subparagraph id="IDb9d0e0b19dd74731ad62c7862ade3685"><enum>(C)</enum><header>Forbearance</header><text>Nothing
in this subsection precludes any forbearance by the holder of an obligation
covered by a loan guarantee under this section for the benefit of the borrower,
which forbearance may be agreed upon by the parties to the obligation and
approved by the Administrator.</text>
</subparagraph></paragraph><paragraph id="IDf8199028cc4143d68e7a5c07155c78e7"><enum>(2)</enum><header>Subrogation</header>
<subparagraph id="IDadcbcbd8dc5d4b1581ae8a6e5829b6b3"><enum>(A)</enum><header>In
general</header><text>If the Administrator makes a payment under paragraph (1),
the Administrator shall be subrogated to the rights of the recipient of the
payment as specified in the loan guarantee or related agreements including,
where appropriate, the authority (notwithstanding any other provision of
law)—</text>
<clause id="ID1660f21708ea4004b1b310fb2df1da53"><enum>(i)</enum><text>to
complete, maintain, operate, lease, or otherwise dispose of any property
acquired pursuant to the loan guarantee or related agreements; or</text>
</clause><clause id="IDfe00939022ad479f8ccf4e378f154391"><enum>(ii)</enum><text>to
permit the borrower, pursuant to an agreement with the Administrator, to
continue to pursue the purposes of the eligible project carried out as a result
of the loan guarantee if the Administrator determines the pursuit to be in the
public interest.</text>
</clause></subparagraph><subparagraph id="IDce67efdc1f6d423ca443da94dc297cd2"><enum>(B)</enum><header>Superiority of
rights</header><text>The rights of the Administrator, with respect to any
property acquired pursuant to a loan guarantee or related agreements, shall be
superior to the rights of any other person with respect to the property.</text>
</subparagraph><subparagraph id="ID6226ab7fb7694d94be66f5cd4615ce32"><enum>(C)</enum><header>Terms and
conditions</header><text>A loan guarantee agreement shall include such detailed
terms and conditions as the Administrator determines to be appropriate—</text>
<clause id="IDf8544a2f4119473aaba7472fed4ae5e6"><enum>(i)</enum><text>to
protect the interests of the United States in the case of default; and</text>
</clause><clause id="ID9f65572c6cf94f9881d8a3d73b7a20b2"><enum>(ii)</enum><text>to
have available all the patents and technology necessary for any person
selected, including the Administrator, to complete and operate the eligible
project carried out as a result of the loan guarantee.</text>
</clause></subparagraph></paragraph><paragraph id="ID832239f518ed47fbb0522d0249cc867c"><enum>(3)</enum><header>Payment of
principal and interest by administrator</header><text>With respect to any
obligation guaranteed under this section, the Administrator may enter into a
contract to pay, and pay, holders of the obligation, for and on behalf of the
borrower, from funds appropriated for that purpose, the principal and interest
payments that become due and payable on the unpaid balance of the obligation if
the Administrator finds that—</text>
<subparagraph id="IDa38127f948c444b5a609f905a4d96e32"><enum>(A)</enum><text>the borrower is
unable to meet the payments and is not in default;</text>
</subparagraph><subparagraph id="ID8fac4a9520fb44a88de0fb4ac93ee9d3"><enum>(B)</enum><text>it is in the
public interest to permit the borrower to continue to pursue the purposes of
the project;</text>
</subparagraph><subparagraph id="ID0f3b8bd8a38345e4a7721715dca1a3a0"><enum>(C)</enum><text>the probable net
benefit to the Federal Government in paying the principal and interest will be
greater than that which would result in the event of a default;</text>
</subparagraph><subparagraph commented="no" id="IDb347c2a060854e9b9fe3e49de7d4b3a9"><enum>(D)</enum><text>the amount of the
payment sought by the holders of the obligation does not exceed the amount of
principal and interest that the borrower is obligated to pay under the
agreement being guaranteed; and</text>
</subparagraph><subparagraph commented="no" id="ID20b3aff7fa6f4c7bbbd3b2505ad6861a"><enum>(E)</enum><text>the borrower
agrees to reimburse the Administrator for the payment (including interest) on
terms and conditions that are satisfactory to the Administrator.</text>
</subparagraph></paragraph><paragraph id="ID28124676dcb14315bade0b390d074bdf"><enum>(4)</enum><header>Action by
attorney general</header>
<subparagraph id="IDfb42cd83c5ea470d99381e2f7b528207"><enum>(A)</enum><header>Notification</header><text>If
a borrower defaults on an obligation covered by a loan guarantee under this
section, the Administrator shall notify the Attorney General of the
default.</text>
</subparagraph><subparagraph id="IDb46071b51a5c470090f0b6c34812d162"><enum>(B)</enum><header>Recovery</header><text>On
notification, the Attorney General shall take such action as is appropriate to
recover the unpaid principal and interest due from—</text>
<clause id="ID6a104408701146ec86b3e3bc3e0ffaef"><enum>(i)</enum><text>such assets of
the defaulting borrower as are associated with the obligation; or</text>
</clause><clause id="ID5cba922b5aa141d4a5791ba28d44b767"><enum>(ii)</enum><text>any other
security pledged to secure the obligation.</text>
</clause></subparagraph></paragraph></subsection><subsection id="ID6ba07142f2d64244b97b8d14c295251b"><enum>(h)</enum><header>Fees</header>
<paragraph id="IDa1abeadae6764db4903526f52a254412"><enum>(1)</enum><header>In
general</header><text>The Administrator shall charge and collect fees for loan
guarantees in amounts the Administrator determines are sufficient to cover
applicable administrative expenses.</text>
</paragraph><paragraph id="ID0fb1d257bc39468f9b6984081a3c7c98"><enum>(2)</enum><header>Availability</header><text>Fees
collected under this subsection shall—</text>
<subparagraph id="ID1b3a4929b6544db8a235e9bc6298e16a"><enum>(A)</enum><text>be deposited by
the Administrator in the Treasury; and</text>
</subparagraph><subparagraph id="ID6afa8b3363214f65a40f1bdfa24b2fa2"><enum>(B)</enum><text>remain available
until expended, subject to such other conditions as are contained in annual
appropriations Acts.</text>
</subparagraph></paragraph></subsection><subsection id="IDee26549c8dcf4ba0ac26da16b19f28ed"><enum>(i)</enum><header>Records;
audits</header>
<paragraph id="IDcea135a07f1b4067a99efb84c9fcf9fb"><enum>(1)</enum><header>In
general</header><text>A recipient of a loan guarantee shall keep such records
and other pertinent documents as the Administrator shall prescribe by
regulation, including such records as the Administrator may require to
facilitate an effective audit.</text>
</paragraph><paragraph id="ID744853ecfa7b4f9ca06199bb79b18a86"><enum>(2)</enum><header>Access</header><text>The
Administrator and the Comptroller General of the United States (or designees)
shall have access, for the purpose of audit, to the records and other pertinent
documents.</text>
</paragraph></subsection><subsection id="ID0e4ab0bbeed043c5ac1a19905dbed245"><enum>(j)</enum><header>Full faith and
credit</header><text>The full faith and credit of the United States is pledged
to the payment of all loan guarantees issued under this section with respect to
principal and interest.</text>
</subsection><subsection id="ID88fffe45482a45c9a4815943f664ea89"><enum>(k)</enum><header>Qualification
of facilities receiving tax credits</header><text>A project that receives 1 or
more tax credits shall not be disqualified from being considered to be an
eligible project, or from receiving a grant or loan guarantee, under this
subtitle.</text>
</subsection></section><section id="ID804b79ff4e164c75b361d2a6913ce780"><enum>545.</enum><header>Energy park
task forces</header>
<subsection id="ID2886c80733c843ce99902ca40a9c64f7"><enum>(a)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="IDa6ddbc196ebd4dacaec2c929dc0971a9"><enum>(1)</enum><header>Energy
park</header><text>The term <term>energy park</term> shall have such meaning as
is given the term by the Secretary, by regulation.</text>
</paragraph><paragraph id="ID118c080f10094cc3b6c0e516d0ef823c"><enum>(2)</enum><header>Secretary</header><text>The
term <term>Secretary</term> means the Secretary of Energy.</text>
</paragraph><paragraph id="IDd66c1a2f9b1244b7b6de06ffdb216b5e"><enum>(3)</enum><header>Task
force</header><text>The term <term>task force</term> means any energy park task
force established under subsection (b)(1).</text>
</paragraph></subsection><subsection id="IDd637eec296834d5f8644a6f3333ce087"><enum>(b)</enum><header>Establishment</header>
<paragraph id="IDd5759d8f61034288808d6d5fb87acece"><enum>(1)</enum><header>In
general</header><text>As soon as practicable after the date of enactment of
this Act, the Secretary shall establish not less than 4, and not more than 6,
regional task forces, to be known as <quote>energy park task
forces</quote>.</text>
</paragraph><paragraph id="ID08cd93cdfaf64ec8bc1af3524e4b9a44"><enum>(2)</enum><header>Locations</header><text>The
Secretary shall establish task forces under paragraph (1), to the maximum
extent practicable—</text>
<subparagraph id="ID84c12ccaff4341c69387a4b750158b52"><enum>(A)</enum><text>in geographically
diverse regions of the United States; and</text>
</subparagraph><subparagraph id="ID6b60ebef1d7e4b649783ac59593cb303"><enum>(B)</enum><text>in regions
with—</text>
<clause id="ID34153b1138a04fd4909ddaaf0ae73686"><enum>(i)</enum><text>well-established
infrastructure for high-rank and low-rank coal or biomass production; or</text>
</clause><clause id="IDdce4ba20a908444ca053c59ecb2a710c"><enum>(ii)</enum><text>significant
demand for the products of energy parks.</text>
</clause></subparagraph></paragraph></subsection><subsection id="ID3129df59cedd4e95ae5897845d1974b1"><enum>(c)</enum><header>Membership</header><text>Each
task force shall be comprised of individuals, to be appointed by the Secretary,
representing—</text>
<paragraph id="ID3472ae2f575946a9bace2a294498f847"><enum>(1)</enum><text>local
agricultural, coal, pulp and paper, chemical, automotive, and electric power
industries, including distributed and renewable energy electricity companies
where applicable ;</text>
</paragraph><paragraph id="IDda25523b10984f028465526ec702aed2"><enum>(2)</enum><text>regional energy
cooperatives;</text>
</paragraph><paragraph id="ID5f2a0432d0394452aebb515ce231a576"><enum>(3)</enum><text>State energy,
environmental, agricultural, and economic development agencies;</text>
</paragraph><paragraph id="IDd563c297e8bb4f14ae7af733f7b1e25e"><enum>(4)</enum><text>labor unions;
and</text>
</paragraph><paragraph id="ID5847bf95f34946a4850870140c984b89"><enum>(5)</enum><text>environmental and
citizen groups.</text>
</paragraph></subsection><subsection id="ID0f7f6d3121944bc58e0a074fd8391c09"><enum>(d)</enum><header>Duties</header>
<paragraph id="IDa1db490aa6874b16822ee7bb755d8b33"><enum>(1)</enum><header>Evaluations</header>
<subparagraph id="ID49a43af795df4249aed453fef5ce0156"><enum>(A)</enum><header>In
general</header><text>Each task force shall evaluate, within the jurisdiction
of the task force—</text>
<clause id="IDe6bfceb5fe954ff0bf06c940066a38f3"><enum>(i)</enum><text>the
technical and economic potential for the use of domestically-produced coal and
biomass and available renewable energy resources as feedstock for energy parks
to produce useful products for markets associated with—</text>
<subclause id="IDb909ba869a1d47f3bc5aaad67370c03a"><enum>(I)</enum><text>fertilizer;</text>
</subclause><subclause id="ID6799564c15b54968a70fce56158a6797"><enum>(II)</enum><text>liquid
fuels;</text>
</subclause><subclause id="ID8b9dff267ea241498f0bc1d0a4f17042"><enum>(III)</enum><text>steam;
and</text>
</subclause><subclause id="ID6f6e6989975349cb8cf5c397f7405bd5"><enum>(IV)</enum><text>electricity;
and</text>
</subclause></clause><clause id="IDbf5c0042c6a444ab88ac817d2622fc2d"><enum>(ii)</enum><text>the impacts of
the markets described in clause (i) on—</text>
<subclause id="ID0a3892dca5d242b389eac3f405cd0144"><enum>(I)</enum><text>national
security;</text>
</subclause><subclause id="ID389db18e1e7146b39566abe821e5b0f8"><enum>(II)</enum><text>the United
States and regional economies;</text>
</subclause><subclause id="ID1ac5d9c888494667a885dbf5bd9fe0f7"><enum>(III)</enum><text>job security
and unemployment;</text>
</subclause><subclause id="IDfaa5f6f16f4e49e3903c61c239997340"><enum>(IV)</enum><text>the environment;
and</text>
</subclause><subclause id="ID86c2d1344e0a4e1d9d1ef30c60cbb6bf"><enum>(V)</enum><text>any other
relevant industry.</text>
</subclause></clause></subparagraph><subparagraph id="ID35bd37d217ef4e6dade9f894debaf23a"><enum>(B)</enum><header>Inclusion</header><text>An
evaluation under subparagraph (A) shall include an evaluation, within the
jurisdiction of the applicable task force, of carbon management options and
costs.</text>
</subparagraph></paragraph><paragraph id="IDe7351d1783164da5a7f92cbadf3ebc49"><enum>(2)</enum><header>Reports</header>
<subparagraph id="IDb2fb2c2d887a4e21aab6ff2acbabe80f"><enum>(A)</enum><header>In
general</header><text>Not later than 18 months after the date on which all
members of a task force have been appointed under subsection (c), the task
force shall submit to the Secretary a report describing the results of the
evaluation conducted under paragraph (1).</text>
</subparagraph><subparagraph id="IDb5cd809430844f4d8a3aa556f44af67b"><enum>(B)</enum><header>Coordination</header><text>In
preparing a report under subparagraph (A), a task force shall coordinate
with—</text>
<clause id="ID25f4f2af831640b6ac7e26da1ee85228"><enum>(i)</enum><text>the
7 Regional Carbon Sequestration Partnerships; and</text>
</clause><clause id="IDb4f1b2fb545e41cd8b176d43894f735f"><enum>(ii)</enum><text>other relevant
Federal agencies.</text>
</clause></subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDe63944fb4e0e4d40bc8c43898a467a96"><enum>(e)</enum><header>Action by
Secretary</header><text>After taking into consideration the reports submitted
under subsection (d)(2), including any related report submitted by an entity
described in subsection (d)(2)(B), the Secretary shall submit to Congress a
report proposing a national energy park development program, including any
applicable recommendations of the Secretary.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="ID00849a0f0cc44b2ebcb84851f23bf1fb" section-type="subsequent-section"><enum>546.</enum><header>Authorization of
appropriations</header><text display-inline="no-display-inline">There is
authorized to be appropriated—</text>
<paragraph commented="no" display-inline="no-display-inline" id="id46EFB4EDFC534FE89DADF1ECD29059A5"><enum>(1)</enum><text display-inline="yes-display-inline">section 544 $2,000,000,000 for each of
fiscal years 2007 through 2011, of which—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id9ADC99B13326489596B568272C5A2FEE"><enum>(A)</enum><text display-inline="yes-display-inline">not less than $1,000,000,000 shall be used
for grants for demonstration projects; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idB34716718E224F63A86F2BE87AE7A435"><enum>(B)</enum><text display-inline="yes-display-inline">not less than $1,000,000,000 shall be used
for loan guarantees; and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id9AB197D1377942F6A9D8C2AC08EE8FDA"><enum>(2)</enum><text>this subtitle
(other than section 544) such sums as are necessary for each of fiscal years
2007 through 2011.</text>
</paragraph></section></subtitle><subtitle id="idC7FD30E7212F4749831E3FFFDDE87267"><enum>G</enum><header>Strategic
Gasoline and Fuel Reserve</header>
<section id="id3686F89B84114F55B787C145E7D7F111"><enum>548.</enum><header>Strategic
Gasoline and Fuel Reserve</header>
<subsection id="idBEFB08735C4B4A7B99003FF7B1005A5C"><enum>(a)</enum><header>In
general</header><text>Title I of the Energy Policy and Conservation Act is
amended by inserting after part D (42 U.S.C. 6250 et seq.) the
following:</text>
<quoted-block display-inline="no-display-inline" id="id3EBF8BC3D7B4418B9B9A5C58D2A7476A" style="OLC">
<part id="idA694A90AF27D407BAC9CDD5E9D7249D4"><enum>V</enum><header>Strategic
Gasoline and Fuel Reserve</header>
<section id="id655B8A17099B4AF4A5C98E3E46975875"><enum>191.</enum><header>Definitions</header><text display-inline="no-display-inline">In this part:</text>
<paragraph id="ID335d3c474e844822a7628d9f4c810cfd"><enum>(1)</enum><header>Gasoline</header><text>The
term <term>gasoline</term> means any finished petroleum product or blendstock
used as non-diesel automotive fuel as determined by the Secretary to have the
highest fungibility in the selected region.</text>
</paragraph><paragraph id="ID2d8c5a4ad3164e57837390deef9a6571"><enum>(2)</enum><header>Reserve</header><text>The
term <term>Reserve</term> means the Strategic Gasoline and Fuel Reserve
established under section 192(a).</text>
</paragraph></section><section id="ID79c835e6e05f48878349d22df9af61a7"><enum>192.</enum><header>Establishment</header>
<subsection id="ID1d1456430e80404492c3a840b57ea36c"><enum>(a)</enum><header>In
general</header><text>Notwithstanding any other provision of this Act, the
Secretary shall establish, maintain, and operate a Strategic Gasoline and Fuel
Reserve.</text>
</subsection><subsection id="IDee31c0d855ee49a4a691e45fb1a4abf3"><enum>(b)</enum><header>Not component
of strategic petroleum reserve</header><text>The Reserve is not a component of
the Strategic Petroleum Reserve established under part B.</text>
</subsection><subsection id="ID1cd8bdceb5864907b6f5fc164023b5d1"><enum>(c)</enum><header>Capacity</header><text>The
Reserve shall contain at least—</text>
<paragraph id="ID59b5cb5c03664e6d9e41bc7d74a51ab4"><enum>(1)</enum><text>8,000,000 barrels
of gasoline; and</text>
</paragraph><paragraph id="IDb96df64896ef440282957f07f27ebe3e"><enum>(2)</enum><text>1,500,000 barrels
of jet fuel.</text>
</paragraph></subsection><subsection id="ID588a75ceca654046b1f64ff60394ee4a"><enum>(d)</enum><header>Reserve
sites</header>
<paragraph id="IDfd3db2ebe76e46be9ae836466238b21e"><enum>(1)</enum><header>Siting</header><text>Not
later than 18 months after the date of enactment of this Act, the Secretary
shall determine not less than 3 Reserve sites, and not more than 5 Reserve
sites, throughout the United States that are regionally strategic.</text>
</paragraph><paragraph id="ID18930c1949cb4d1f957110843c35ac1c"><enum>(2)</enum><header>Operation</header><text>The
Reserve sites described in paragraph (1) shall be operational not later than 3
years after the date of enactment of this Act.</text>
</paragraph></subsection><subsection id="ID710151e002904926b01145594b1efcaa"><enum>(e)</enum><header>Authority</header><text>In
carrying out this part, the Secretary may—</text>
<paragraph id="ID879ca9daad6d4140a359fbe816e09f0a"><enum>(1)</enum><text>construct,
purchase, contract for, lease, or otherwise acquire, in whole or in part,
storage and related facilities and storage services;</text>
</paragraph><paragraph id="ID3b83aa2dee3d4ecbac19643855d31f47"><enum>(2)</enum><text>use, lease,
maintain, sell, or otherwise dispose of storage and related facilities acquired
under this part;</text>
</paragraph><paragraph id="ID3da60901e04b40b986c4fab35222a81d"><enum>(3)</enum><text>acquire by
purchase, exchange, lease, commercial futures contract, or other means gasoline
and fuel for storage in the Reserve;</text>
</paragraph><paragraph id="IDc86c07ebe520459a85d9c4bacf3dfb64"><enum>(4)</enum><text>store gasoline
and fuel in facilities not owned by the United States; and</text>
</paragraph><paragraph id="IDbb85f0b2bebd4736ac181e403194ca9c"><enum>(5)</enum><text>sell, exchange,
or otherwise dispose of gasoline and fuel from the Reserve, including to
maintain—</text>
<subparagraph id="IDe0fe1f9a09064ece94bb00e67adca681"><enum>(A)</enum><text>the quality or
quantity of the gasoline or fuel in the Reserve; or</text>
</subparagraph><subparagraph id="IDe406f296b233459fa31f6e0b5e8ff1f4"><enum>(B)</enum><text>the operational
capacity of the Reserve.</text>
</subparagraph></paragraph></subsection><subsection id="IDd6268f0dd5354692b64761df9baf3910"><enum>(f)</enum><header>Fill
date</header>
<paragraph id="IDe43fb9e76ebc44eb9214ce9aa02d4698"><enum>(1)</enum><header>In
general</header><text>Except as provided in paragraph (2), the Secretary shall
complete the process of filling the Reserve under this section by March 1,
2010.</text>
</paragraph><paragraph id="ID4ff22b4d7afc4ea99947b324ef55f1b8"><enum>(2)</enum><header>Extensions</header><text>The
Secretary may extend the due date established under paragraph (1) if the
Secretary determines that filling the Reserve by that due date would
cause—</text>
<subparagraph id="id92F82901B32D45AD8BFBCDC7C98BCE8A"><enum>(A)</enum><text>a significant
price increase or supply shortage; and</text>
</subparagraph><subparagraph id="id831750DEC0774CE8906E62A74609BC60"><enum>(B)</enum><text>an undue economic
burden on the United States.</text>
</subparagraph></paragraph></subsection></section><section id="IDa522efceaed044c7b333ecbe5f9f6e4f"><enum>193.</enum><header>Release of
gasoline and fuel</header>
<subsection id="IDbb7fd2549b6d4a1abbc707b02159a4ad"><enum>(a)</enum><header>In
general</header><text>The Secretary shall release gasoline or fuel from the
Reserve only if—</text>
<paragraph id="IDd75dbdd40acd4deaa9d8ecfd402a8e66"><enum>(1)</enum><text>the Secretary
finds that there is a severe fuel supply disruption by determining that—</text>
<subparagraph id="ID525ee6dd3a2e4a2bb130326c8287b6fe"><enum>(A)</enum><text>a regional,
national, or international supply shortage of gasoline or fuel of significant
scope and duration has occurred;</text>
</subparagraph><subparagraph id="ID2ee6049a78a04c3aad64cb608125a016"><enum>(B)</enum><text>a substantial
increase in the price of gasoline or fuel has resulted from the
shortage;</text>
</subparagraph><subparagraph id="ID3d6a3ef2c6da46c892ad5e26dd0ffea4"><enum>(C)</enum><text>the price
increase is likely to cause a significant adverse impact on the national or
regional economy; and</text>
</subparagraph><subparagraph id="IDb0a74fe9117341138b5b7c54e037f9b2"><enum>(D)</enum><text>releasing
gasoline or fuel from the Reserve would assist directly and significantly in
reducing the adverse impact of the shortage; or</text>
</subparagraph></paragraph><paragraph id="ID3be57440466143ae85410822675958dc"><enum>(2)</enum><subparagraph commented="no" display-inline="yes-display-inline" id="idD6CF16EB0AA04952AFB64A5B435E4495"><enum>(A)</enum><text>the Governor of a State
submits to the Secretary a written request for a release from the Reserve that
contains a finding that—</text>
<clause id="id4520B5F442CE49BEA05A1D7A37DB09F1" indent="up1"><enum>(i)</enum><text>a regional or statewide supply
shortage of gasoline or fuel of significant scope and duration has
occurred;</text>
</clause><clause id="id5091D189A53046E38A7F731888BD1626" indent="up1"><enum>(ii)</enum><text>a substantial increase in the
price of gasoline or fuel has resulted from the shortage; and</text>
</clause><clause id="idC4AE46D996EB441AA98DA8AE98553F96" indent="up1"><enum>(iii)</enum><text>the price increase is likely to
cause a significant adverse impact on the economy of the State; and</text>
</clause></subparagraph><subparagraph id="id1E4033CCE7FD41D499313891CD301CDD" indent="up1"><enum>(B)</enum><text>the Secretary concurs with the
findings of the Governor under subparagraph (A) and determines that a release
from the Reserve—</text>
<clause id="idBC27A653BCAF43868F6E1843A9FC83F8"><enum>(i)</enum><text>would mitigate gasoline or fuel
price volatility in the State or region; and</text>
</clause><clause id="id1BF71640677C4EA3839C576668D11A8C"><enum>(ii)</enum><text>would not have an adverse effect
on the long-term economic viability of retail gasoline or fuel markets in the
State and adjacent States.</text>
</clause></subparagraph></paragraph></subsection><subsection id="ID48dfc07b9ce94116a0f4af64ccce257d"><enum>(b)</enum><header>Procedure</header>
<paragraph id="ID1639f9bbe3f4414e9778723d2391ecf7"><enum>(1)</enum><header>Response of
Secretary</header><text>The Secretary shall respond to a request submitted
under subsection (a)(2) not later than 5 days after receipt of the request
by—</text>
<subparagraph id="IDd2e67d37057b4fb9b8402f95ef3dc571"><enum>(A)</enum><text>approving the
request;</text>
</subparagraph><subparagraph id="IDe98d83a71f034d339ab4750c11731ff9"><enum>(B)</enum><text>denying the
request; or</text>
</subparagraph><subparagraph id="IDb26897d57a6e49558896446f98aa8a67"><enum>(C)</enum><text>requesting
additional supporting information.</text>
</subparagraph></paragraph><paragraph id="ID2f6effb85f0a4e2188b17afecb984a63"><enum>(2)</enum><header>Release</header><text>The
Secretary shall establish procedures governing the release of gasoline or fuel
from the Reserve in accordance with this subsection.</text>
</paragraph><paragraph id="IDe6d94fa00bae40f48389842a592d2bd9"><enum>(3)</enum><header>Requirements</header>
<subparagraph id="IDcd457c4fc7d0465984c53ee881db39f9"><enum>(A)</enum><header>Eligible
entity</header><text>In this paragraph, the term <term>eligible entity</term>
means an entity that is customarily engaged in the sale or distribution or bulk
storage of gasoline or fuel.</text>
</subparagraph><subparagraph id="ID4cf5e9df504745b687b6bc1977f05423"><enum>(B)</enum><header>Sale or
disposal from reserve</header><text>The procedures established under this
subsection shall provide that the Secretary may—</text>
<clause id="ID62ab468a024d4d2585e30d97066e0bb2"><enum>(i)</enum><text>sell gasoline or
fuel from the Reserve to an eligible entity through a competitive process;
or</text>
</clause><clause id="ID7e49cae18b87462383dd4031eb65e3a4"><enum>(ii)</enum><text>enter into an
exchange agreement with an eligible entity under which the Secretary
receives—</text>
<subclause id="id4B2B4C8D975A48B59B11D04D4C6DB63B"><enum>(I)</enum><text>a greater volume
of gasoline or fuel as repayment from the eligible entity than the volume
provided to the eligible entity; or</text>
</subclause><subclause id="id02C8EF74A79A4238B116F877979710A1"><enum>(II)</enum><text>payment of the
premium for the loan in cash, which may be placed in the Strategic Gasoline and
Fuel Reserve Fund established under section 195.</text>
</subclause></clause></subparagraph><subparagraph id="ID94f22e12ddaa4c90994053b6166841a3"><enum>(C)</enum><header>Test sale
authority</header><text>The Secretary may perform a test sale under this
paragraph for up to 1,000,000 barrels.</text>
</subparagraph></paragraph></subsection><subsection id="ID25b5d2e08a474e26b0cb65d53387e842"><enum>(c)</enum><header>Continuing
evaluation</header><text>The Secretary shall conduct a continuing evaluation of
the drawdown and sales procedures established under this section.</text>
</subsection></section><section id="IDc22b96490b1e4d8a99426a99ae7b7ae6"><enum>194.</enum><header>Reports</header>
<subsection id="ID2196651935b3454383741c73d4bb6cf0"><enum>(a)</enum><header>Gasoline and
fuel</header><text>Not later than 180 days after the date of enactment of this
section, the Secretary shall submit to Congress and the President a plan
describing the manner in which the Department of Energy will perform—</text>
<paragraph id="IDbcb5fdc2399243aa9ed7b561d5b7e1c0"><enum>(1)</enum><text>the acquisition
of storage and related facilities or storage services for the Reserve,
including the use of storage facilities not currently in use or not currently
used to capacity;</text>
</paragraph><paragraph id="IDc19eda8a225748eba92c70b71f4be2ad"><enum>(2)</enum><text>the acquisition
of gasoline and fuel for storage in the Reserve;</text>
</paragraph><paragraph id="ID824d19e0308f4583a78f69df478b4946"><enum>(3)</enum><text>the anticipated
methods of disposition of gasoline and fuel from the Reserve;</text>
</paragraph><paragraph id="ID5abe381bafeb40889c52a82a7d647de5"><enum>(4)</enum><text>the estimated
costs of establishment, maintenance, and operation of the Reserve;</text>
</paragraph><paragraph id="IDeb9cd07525754f418e873743acde9991"><enum>(5)</enum><text>efforts that the
Department will take to minimize any potential need for future drawdowns from
the Reserve; and</text>
</paragraph><paragraph id="IDf79ea9b43d5f47098b4b3efb46e9edb5"><enum>(6)</enum><text>actions to ensure
the quality of the gasoline and fuel in the Reserve are maintained.</text>
</paragraph></subsection><subsection id="IDed3cd1bde9824f5584059066a8c075bc"><enum>(b)</enum><header>Natural gas and
diesel</header><text>Not later than 180 days after the date of enactment of
this section, the Secretary shall submit to Congress a report describing the
feasibility of creating a natural gas, diesel, and biofuels feedstock reserve
similar to the Reserve under this part.</text>
</subsection><subsection id="IDf9857efcf0ef437d89af163fef438377"><enum>(c)</enum><header>Private sector
storage capacity</header>
<paragraph id="id78BAE56F60ED46EB9AE40B042CE06D4E"><enum>(1)</enum><header>In
general</header><text>Not later than 1 year after the date of enactment of this
section, the Secretary shall submit to Congress a report describing—</text>
<subparagraph id="id47CFFBEAC08B4403902887E54EA8375C"><enum>(A)</enum><text>private sector
storage capacity of refined petroleum products; and</text>
</subparagraph><subparagraph id="id10F64B31B5D5439696C83202E0720F95"><enum>(B)</enum><text>how expansion of
existing storage capacity might alleviate short-term supply constraints and the
resulting impact on consumer prices without the need for using releases from
the Reserve.</text>
</subparagraph></paragraph><paragraph id="id113517BFA2F54D81B386301DB40E9E8D"><enum>(2)</enum><header>Release;
incentives</header><text>In preparing the report required under this
subsection, the Secretary shall assess—</text>
<subparagraph id="id84A7B64AB9924BB1938534BA35247626"><enum>(A)</enum><text>under what
conditions private sector storage stocks should be released to moderate supply
disruptions and pricing impacts; and</text>
</subparagraph><subparagraph id="id0D5F300E9EBE40F499A3AFC7CACA2BE1"><enum>(B)</enum><text>what incentives,
if any, are necessary to promote the development of increased private sector
storage capacity.</text>
</subparagraph></paragraph></subsection></section><section id="ID5f9fcd1f93564928b2f388b449bc518a"><enum>195.</enum><header>Strategic
Gasoline and Fuel Reserve Fund</header>
<subsection id="ID788c2cb63c05462a9e204f9e533dd4a3"><enum>(a)</enum><header>Establishment</header><text>There
is established in the Treasury of the United States a separate revolving fund,
to be known as the <quote>Strategic Gasoline and Fuel Reserve Fund</quote>
(referred to in this section as the <quote>Fund</quote>), consisting of—</text>
<paragraph id="ID2cf7f7b170a84be9b1addfa419f76461"><enum>(1)</enum><text>such amounts as
are appropriated to the Fund under section 196; and</text>
</paragraph><paragraph id="ID7e9a7203e4294593ad7fe202e971b3ca"><enum>(2)</enum><text>all receipts from
the sale, exchange, or disposition of gasoline or fuel from the Reserve or from
leasing of facilities or providing other services to the private sector in
connection with the Reserve, which shall be deposited in the Fund on
receipt.</text>
</paragraph></subsection><subsection id="IDe4b70eb7614447d7a1890a716dd02c26"><enum>(b)</enum><header>Use of
Fund</header><text>The Secretary may make expenditures from the Fund, without
further appropriation, for the operation and administration of the
Reserve.</text>
</subsection><subsection id="ID0732a8912cf54e26ac3ff0fb8ba2e130"><enum>(c)</enum><header>Administration
of Fund</header>
<paragraph id="id05DEA2C3FC17456EA133CC92751A2C6B"><enum>(1)</enum><header>In
general</header><text>The Secretary of the Treasury shall—</text>
<subparagraph id="id9600A4334B1F4A558F0A0C61BAAD5071"><enum>(A)</enum><text>maintain the
Fund; and</text>
</subparagraph><subparagraph id="id0AB6F31C86AF44919C9560F21B283959"><enum>(B)</enum><text>as soon as
practicable after the end of each fiscal year and after consultation with the
Secretary, submit to Congress a report describing the financial condition and
operations of the Fund during the preceding fiscal year.</text>
</subparagraph></paragraph><paragraph id="id3903AF26F1414C009FFB52A14CC559D0"><enum>(2)</enum><header>Budget</header>
<subparagraph id="id078FB0DC34DC451AA9304B1D4D50C273"><enum>(A)</enum><header>In
general</header><text>The Secretary shall submit the budget for the Fund to the
Office of Management and Budget, along with the budget of the Department of
Energy.</text>
</subparagraph><subparagraph id="id68478DB9DF05439E9334FB8C28FF06B5"><enum>(B)</enum><header>Contents</header><text>The
budget shall—</text>
<clause id="id2DF48FAF1630471F985142503C47DBB0"><enum>(i)</enum><text>consist of
estimates made by the Secretary of expenditures from the Fund and other
relevant financial matters for the succeeding 5 fiscal years; and</text>
</clause><clause id="idA56A4772892D431CBF46444849DA7882"><enum>(ii)</enum><text>be included in
the budget transmitted under section 1105(a) of title 31, United States
Code.</text>
</clause></subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID4e032a6f39804223a396967fe998644b" section-type="subsequent-section"><enum>196.</enum><header>Authorization of
appropriations</header><text display-inline="no-display-inline">There are
authorized to be appropriated such sums as are necessary to carry out this
part, to remain available until
expended.</text>
</section></part><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id11E8249AA2504BAA8349F4EDC4BFD0D4"><enum>(b)</enum><header>Conforming
amendment</header><text>The table of contents for title I of the Energy Policy
and Conservation Act (42 U.S.C. 6201 note) is amended by striking the matter
relating to the second part D (relating to expiration) and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="idC875F6C7BFF74CEBB3C477CF48B71B98" style="OLC">
<toc>
<toc-entry idref="idA694A90AF27D407BAC9CDD5E9D7249D4" level="part">PART V—Strategic Gasoline and Fuel Reserve</toc-entry>
<toc-entry idref="id655B8A17099B4AF4A5C98E3E46975875" level="section">Sec. 191. Definitions.</toc-entry>
<toc-entry idref="ID79c835e6e05f48878349d22df9af61a7" level="section">Sec. 192. Establishment.</toc-entry>
<toc-entry idref="IDa522efceaed044c7b333ecbe5f9f6e4f" level="section">Sec. 193. Release of gasoline and fuel.</toc-entry>
<toc-entry idref="IDc22b96490b1e4d8a99426a99ae7b7ae6" level="section">Sec. 194. Reports.</toc-entry>
<toc-entry idref="ID5f9fcd1f93564928b2f388b449bc518a" level="section">Sec. 195. Strategic Gasoline and Fuel Reserve Fund.</toc-entry>
<toc-entry idref="ID4e032a6f39804223a396967fe998644b" level="section">Sec. 196. Authorization of
appropriations.</toc-entry>
</toc>
<after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section></subtitle><subtitle id="id2CC7A7DB611F494DAA207C96131137B3"><enum>H</enum><header>Reports on United
States energy emergency preparedness</header>
<section id="ID7bd37786cfd74cc8a4590bbb80249625"><enum>551.</enum><header>Potential
impacts of oil supply shock</header>
<subsection id="ID6a61bff68b2341a9a43dbeafc9ba60a1"><enum>(a)</enum><header>In
general</header><text>Not later than 60 days after the date of enactment of
this Act, the President shall submit to Congress a report describing the
potential impact on domestic prices of crude oil, residual fuel oil, and
refined petroleum products of a disruption, for periods of 1 week, 1 year, and
5 years, respectively, of not less than—</text>
<paragraph id="IDc3423fa185ef4244a464ba44bb3a07ca"><enum>(1)</enum><text>30 percent of
United States oil production;</text>
</paragraph><paragraph id="ID6db37edcc0f74184a6ab2714af0b6e70"><enum>(2)</enum><text>20 percent of
United States refining capacity; and</text>
</paragraph><paragraph id="IDfceb1198ae074790be7632282aa012d8"><enum>(3)</enum><text>5 percent of
global oil supplies.</text>
</paragraph></subsection><subsection id="IDf00b95f04a8c4d80947e497b411259f0"><enum>(b)</enum><header>Projections and
remedies</header><text>The President shall include in the report under
subsection (a)—</text>
<paragraph id="IDd33e992054a84a6e8591b1f84d5e63c3"><enum>(1)</enum><text>projections of
the likely impact of each disruption described in that subsection on the United
States economy; and</text>
</paragraph><paragraph id="IDc4e5892095d5497c9a108c7ecbf9e940"><enum>(2)</enum><text>detailed and
prioritized recommendations for remedies in response to each such
disruption.</text>
</paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID77897fca028e4cf38ea209721d9b3823" section-type="subsequent-section"><enum>552.</enum><header>Preventing future
disruptions</header>
<subsection commented="no" display-inline="no-display-inline" id="id566AB303F5994B198DE0A7DB70F5F639"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">The Secretary of
Energy shall enter into a contract with the National Academy of Sciences under
which the National Academy shall conduct a review of expenditures and
activities carried out by each organization the total wholesale or retail
United States sales of crude oil, gasoline, and petroleum distillates of which
are in excess of $500,000,000 per year—</text>
<paragraph commented="no" display-inline="no-display-inline" id="id99D89BE92A8A4CF88AE75FE60BE9E669"><enum>(1)</enum><text display-inline="yes-display-inline">to protect the energy supply system of the
United States from—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id9C8A6A09665740A38DDA2C272EBAD537"><enum>(A)</enum><text display-inline="yes-display-inline">terrorist attacks;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idF151AF5B59834C6D9026A17A9884E8B7"><enum>(B)</enum><text display-inline="yes-display-inline">international supply disruptions;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id46FD68E1A8E045CF971F25928C5880B9"><enum>(C)</enum><text display-inline="yes-display-inline">natural disasters; and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idCD239EEC2B094962914674F95E861AAE"><enum>(2)</enum><text display-inline="yes-display-inline">to ensure a stable and reasonably-priced
supply of those products to consumers in the United States.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idA448EFDB27BA40D68150422D37119D51"><enum>(b)</enum><header>Inclusions</header><text display-inline="yes-display-inline">The review under subsection (a) shall
include an assessment of the preparations of each organization described in
that subsection with respect to the forecasted period of more frequent and more
intense hurricane activity in the Gulf of Mexico and other vulnerable coastal
areas.</text>
</subsection></section></subtitle><subtitle id="id8EAF031320D94313AD4C4CC9B0FBA274"><enum>J</enum><header>Impacts of Act on
reducing greenhouse gas emissions</header>
<section id="id62C233D49CD745C1AB96D710EA95C9B4"><enum>561.</enum><header>Climate change
and energy policy feedback loop</header>
<subsection id="idEC24E1EF7B3C431BBA755D91840A5B19"><enum>(a)</enum><header>In
general</header><text>Not later than 2 years after the date of enactment of
this Act, the Secretary of Energy, in consultation with the Secretary of
Commerce and the Administrator of the Environmental Protection Agency, shall
submit to Congress a report on the probable effects of this Act and the
amendments made by this Act during calendar years 2010, 2015, and 2020
on—</text>
<paragraph id="IDfc877518d85143acb2f2cfbdbaaa2066"><enum>(1)</enum><text>total greenhouse
gas emissions, nationally and by sector;</text>
</paragraph><paragraph id="id3B6D84D3814345F4BAAACAA2902C3C7C"><enum>(2)</enum><text>impacts on land,
water, and ecosystems of expanded coal, biofuels, oil, and natural gas
extraction and production;</text>
</paragraph><paragraph id="id83BD1AE5F2AB49C6BB5F05395E805AE5"><enum>(3)</enum><text>job creation;
and</text>
</paragraph><paragraph id="id8A973039A28643119B0B9D66B89847FD"><enum>(4)</enum><text>the
economy.</text>
</paragraph></subsection><subsection id="idD907A4107EBD4F76B348FB57614A4D8A"><enum>(b)</enum><header>Inclusions</header><text>The
report shall include recommendations for amendments to this Act and other
relevant laws to ensure that the effect of this Act will be to reduce total
domestic greenhouse gas emissions below levels projected in the report of the
Energy Information Administration entitled <quote>Annual Energy Outlook
2006</quote> for each of calendar years 2010, 2015, and 2020.</text>
</subsection></section></subtitle><subtitle id="id64D68AF296794791873346817A23BC0A"><enum>K</enum><header>Energy fairness
for America</header>
<section id="IDb37c9d819cb34ba7bcf18962bf59bf08"><enum>571.</enum><header>Elimination of
deduction for intangible drilling and development costs for major oil
companies</header>
<subsection id="ID07aab70d7b984800bdfa2ef1c1656fa0"><enum>(a)</enum><header>In
general</header><text>Section 263(c) of the Internal Revenue Code of 1986 is
amended by adding at the end the following new sentences: <quote>This
subsection shall not apply during any taxable year with respect to a major
integrated oil company (as defined in section 43(f)(2)) if during the preceding
taxable year for the production of oil, the average price of crude oil in the
United States is greater than $34.71 per barrel, and for the production of
natural gas, the average wellhead price of natural gas in the United States is
greater than $4.34 per 1,000 cubic feet. For purposes of the preceding
sentence, the Secretary shall determine average prices, taking into
consideration the most recent data reported by the Energy Information
Administration. For taxable years beginning after December 31, 2007, each
dollar amount specified in this subsection shall be adjusted to reflect changes
for the 12-month period ending the preceding September 30 in the Consumer Price
Index for All Urban Consumers published by the Bureau of Labor Statistics of
the Department of Labor.</quote></text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID07e9ee927efa430c986e646ddde99269"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after the date of the enactment of this Act.</text>
</subsection></section><section id="ID40731eb52ec04eb1981d13e2010d70e4"><enum>572.</enum><header>Elimination of
enhanced oil recovery credit for major oil companies</header>
<subsection id="ID044047fc79284e31b27a1de47be1b651"><enum>(a)</enum><header>In
general</header><text>Section 43 of the Internal Revenue Code of 1986 is
amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="id5A4308CA2C274234B56C415420E819A9" style="OLC">
<subsection id="ID27b0b5d02dec4875afa9250bd0599608"><enum>(f)</enum><header>Nonapplication
of section</header>
<paragraph id="id349FB59C43AE40668ABEB894EA5854B4"><enum>(1)</enum><header>In
general</header><text>This section shall not apply during any taxable year with
respect to a major integrated oil company if during the preceding taxable year
for the production of oil, the average price of crude oil in the United States
is greater than $34.71 per barrel. For purposes of the preceding sentence, the
Secretary shall determine average prices, taking into consideration the most
recent data reported by the Energy Information Administration. For taxable
years beginning after December 31, 2007, the dollar amount specified in this
paragraph shall be adjusted to reflect changes for the 12-month period ending
the preceding September 30 in the Consumer Price Index for All Urban Consumers
published by the Bureau of Labor Statistics of the Department of Labor.</text>
</paragraph><paragraph id="H6DC9303006964C559C8DF36275CF726"><enum>(2)</enum><header>Major integrated
oil company</header><text display-inline="yes-display-inline">For purposes of
this subsection, the term <term>major integrated oil company</term> means, with
respect to any taxable year, a producer of crude oil—</text>
<subparagraph id="H9AD74DE206ED471BB4DABFD521865BB8"><enum>(A)</enum><text>which has an
average daily worldwide production of crude oil of at least 500,000 barrels for
the taxable year,</text>
</subparagraph><subparagraph id="H3B3561ECD7604D15895E42C5EB002696"><enum>(B)</enum><text>which had gross
receipts in excess of $1,000,000,000 for its last taxable year ending during
calendar year 2005, and</text>
</subparagraph><subparagraph id="HFEADB176CF3541278D12045C6C84B554"><enum>(C)</enum><text>to whom subsection
(c) of section 613A does not apply by reason of paragraph (4) of section
613A(d), determined—</text>
<clause id="id8798610F02EC4F9898A70F2BF65FD2E6"><enum>(i)</enum><text>by substituting
<quote>15 percent</quote> for <quote>5 percent</quote> each place it occurs in
paragraph (3) of section 613A(d), and</text>
</clause><clause id="id0352F34D745A44EDB7ECD2A7EC4F8AD3"><enum>(ii)</enum><text>without regard
to whether subsection (c) of section 613A does not apply by reason of paragraph
(2) of section 613A(d).</text>
</clause></subparagraph><continuation-text continuation-text-level="paragraph">For
purposes of subparagraphs (A) and (B), all persons treated as a single employer
under subsections (a) and (b) of section 52 shall be treated as 1 person and,
in case of a short taxable year, the rule under section 448(c)(3)(B) shall
apply.</continuation-text></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID6ba1bd015d704b90814572c465aa8627"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after the date of the enactment of this Act.</text>
</subsection></section><section id="ID01fbf281fb0b4fdd878660d465f1ba2a"><enum>573.</enum><header>Oil and gas
royalty-related amendments</header>
<subsection id="ID8ae6e2b67b1a4690ae147350a7b5fd6f"><enum>(a)</enum><header>Repeal</header><text>Sections
344 through 346 of the Energy Policy Act of 2005 (42 U.S.C. 15902 et seq.) are
repealed.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDeb2b6f344a774fc88d8d86615c282dc4"><enum>(b)</enum><header>Termination of
Alaska offshore royalty suspension</header><text>Section 8(a)(3)(B) of the
Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(3)(B)) is amended by
striking <quote>and in the Planning Areas offshore Alaska</quote>.</text>
</subsection></section><section id="idEAC4605BDDC0470189FD9405D3A3605D"><enum>574.</enum><header>Extension of
election to expense certain refineries</header>
<subsection id="idEB8E452CD73B4EABA72EFC57B0005C30"><enum>(a)</enum><header>Extension</header>
<paragraph id="id6F7BFE9A5F0D4A8AA7812D1086F6B48F"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 179C(c)(1) of
the Internal Revenue Code of 1986 (defining qualified refinery property) is
amended—</text>
<subparagraph id="id68F9B57FD36B43C3A509CA4F6E6E2E79"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>and before January 1,
2012</quote> in subparagraph (B) and inserting <quote>and, in the case of any
qualified refinery described in subsection (d)(1), before January 1,
2012</quote>, and</text>
</subparagraph><subparagraph id="idFAC37D79F0CE40B18C99C66190FCA619"><enum>(B)</enum><text>by inserting
<quote>if described in subsection (d)(1)</quote> after <quote>of which</quote>
in subparagraph (F)(i).</text>
</subparagraph></paragraph><paragraph id="id88455AA1BBBF4F448AA687E34930FB10"><enum>(2)</enum><header>Conforming
amendment</header><text>Subsection (d) of section 179C of the Internal Revenue
Code of 1986 is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idD64284D31CF2445094C819250FABAB55" style="OLC">
<subsection id="id3B39DD0C9B4B411EBD2DCDF0BE8313CB"><enum>(d)</enum><header>Qualified
refinery</header><text>For purposes of this section, the term <term>qualified
refinery</term> means any refinery located in the United States which is
designed to serve the primary purpose of processing liquid fuel from—</text>
<paragraph id="id4D08BD3DDA7342E5BC6A36817B240D1A"><enum>(1)</enum><text>crude oil,
or</text>
</paragraph><paragraph id="id0926F2502E2740FB972AEB1B7EB8FFCE"><enum>(2)</enum><text>qualified fuels
(as defined in section
45K(c)).</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id753B6DF080724E80A93272A8C9AC076A"><enum>(3)</enum><header>Effective
date</header><text>The amendments made by this subsection shall take effect as
if included in the amendment made by section 1323(a) of the Energy Policy Act
of 2005.</text>
</paragraph></subsection><subsection id="id09C3D64D58DD4C66A05BC1702FB0DD9A"><enum>(b)</enum><header>Nonapplication
for major oil companies</header>
<paragraph id="id4DF8D910123E4145A72266E1DAEEE63B"><enum>(1)</enum><header>In
general</header><text>Section 179C of the Internal Revenue Code of 1986 is
amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="idEE1A808B6EC64ECBBBC720C0F7B2CFA1" style="OLC">
<subsection id="idD72740B6A4714CCFB86F8E2F1F5AF8DE"><enum>(i)</enum><header>Nonapplication
of section</header>
<paragraph id="id95482632625047B1B5CC96947C0E06FE"><enum>(1)</enum><header>In
general</header><text>This section shall not apply during any taxable year with
respect to a major integrated oil company if during the preceding taxable year
for the production of oil, the average price of crude oil in the United States
is greater than $34.71 per barrel. For purposes of the preceding sentence, the
Secretary shall determine average prices, taking into consideration the most
recent data reported by the Energy Information Administration. For taxable
years beginning after December 31, 2007, the dollar amount specified in this
paragraph shall be adjusted to reflect changes for the 12-month period ending
the preceding September 30 in the Consumer Price Index for All Urban Consumers
published by the Bureau of Labor Statistics of the Department of Labor.</text>
</paragraph><paragraph id="idA85E82CC449E46E49AA3224FABBE7D49"><enum>(2)</enum><header>Major
integrated oil company</header><text display-inline="yes-display-inline">For
purposes of this subsection, the term <term>major integrated oil company</term>
means, with respect to any taxable year, a producer of crude oil—</text>
<subparagraph id="idF6D58B555004471BBC8E346EB89A1ED1"><enum>(A)</enum><text>which has an
average daily worldwide production of crude oil of at least 500,000 barrels for
the taxable year,</text>
</subparagraph><subparagraph id="idC814953609BB4D8BBFF889E4528314DF"><enum>(B)</enum><text>which had gross
receipts in excess of $1,000,000,000 for its last taxable year ending during
calendar year 2005, and</text>
</subparagraph><subparagraph id="id2B53DF24CF574AABA7AB61773A17BD2D"><enum>(C)</enum><text>to whom
subsection (c) of section 613A does not apply by reason of paragraph (4) of
section 613A(d), determined—</text>
<clause id="id76E45A90FFA349B9A72624D3DC6279D3"><enum>(i)</enum><text>by substituting
<quote>15 percent</quote> for <quote>5 percent</quote> each place it occurs in
paragraph (3) of section 613A(d), and</text>
</clause><clause id="id40B81CC3A53E43D4849FB1AA36B47394"><enum>(ii)</enum><text>without regard
to whether subsection (c) of section 613A does not apply by reason of paragraph
(2) of section 613A(d).</text>
</clause></subparagraph><continuation-text continuation-text-level="paragraph">For
purposes of subparagraphs (A) and (B), all persons treated as a single employer
under subsections (a) and (b) of section 52 shall be treated as 1 person and,
in case of a short taxable year, the rule under section 448(c)(3)(B) shall
apply.</continuation-text></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id187B80367E224918AD32E84291BE499B"><enum>(2)</enum><header>Effective
date</header><text>The amendment made by this subsection shall apply to taxable
years beginning after the date of the enactment of this Act.</text>
</paragraph></subsection></section><section id="IDb73ef01e9e18474a83b63338be995f36"><enum>575.</enum><header>Elimination of
amortization of geological and geophysical expenditures for major oil
companies</header>
<subsection id="IDea53a6cb497f4373ade79abf8617364e"><enum>(a)</enum><header>In
general</header><text>Section 167(h) of the Internal Revenue Code of 1986 is
amended by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="idC631953C6EA745BEB9436EB8B391EE25" style="OLC">
<paragraph id="id8BE8B498C60B4AA587C04C7C96DDCDB5"><enum>(5)</enum><header>Nonapplication
of section</header>
<subparagraph id="idFE64CB69A87648628B39319DF2B2E6D7"><enum>(A)</enum><header>In
general</header><text>This subsection shall not apply during any taxable year
with respect to a major integrated oil company if during the preceding taxable
year for the production of oil, the average price of crude oil in the United
States is greater than $34.71 per barrel, and for the production of natural
gas, the average wellhead price of natural gas in the United States is greater
than $4.34 per 1,000 cubic feet. For purposes of the preceding sentence, the
Secretary shall determine average prices, taking into consideration the most
recent data reported by the Energy Information Administration. For taxable
years beginning after December 31, 2007, each dollar amount specified in this
subparagraph shall be adjusted to reflect changes for the 12-month period
ending the preceding September 30 in the Consumer Price Index for All Urban
Consumers published by the Bureau of Labor Statistics of the Department of
Labor.</text>
</subparagraph><subparagraph id="id552D5BA4667547289EBFFA5BB57E8FD9"><enum>(B)</enum><header>Major
integrated oil company</header><text display-inline="yes-display-inline">For
purposes of this paragraph, the term <term>major integrated oil company</term>
means, with respect to any taxable year, a producer of crude oil—</text>
<clause id="id201C617384D644E2B5181E5937FE8571"><enum>(i)</enum><text>which has an
average daily worldwide production of crude oil of at least 500,000 barrels for
the taxable year,</text>
</clause><clause id="idB43721559D5C400297CA20354442F084"><enum>(ii)</enum><text>which had gross
receipts in excess of $1,000,000,000 for its last taxable year ending during
calendar year 2005, and</text>
</clause><clause id="idC8B8F796C03B44B088BADC714905CD68"><enum>(iii)</enum><text>to whom
subsection (c) of section 613A does not apply by reason of paragraph (4) of
section 613A(d), determined—</text>
<subclause id="idC1133283CB5A46DDB9BBE3E9A3A83DD9"><enum>(I)</enum><text>by substituting
<quote>15 percent</quote> for <quote>5 percent</quote> each place it occurs in
paragraph (3) of section 613A(d), and</text>
</subclause><subclause id="id7557564D98444016A390E1A26978281D"><enum>(II)</enum><text>without regard
to whether subsection (c) of section 613A does not apply by reason of paragraph
(2) of section 613A(d).</text>
</subclause></clause><continuation-text continuation-text-level="subparagraph">For
purposes of subparagraphs (A) and (B), all persons treated as a single employer
under subsections (a) and (b) of section 52 shall be treated as 1 person and,
in case of a short taxable year, the rule under section 448(c)(3)(B) shall
apply.</continuation-text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="IDee2495d4d8a7433ca22b3c833f85280c"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect on and
after the date of the enactment of this Act.</text>
</subsection></section><section changed="added" id="HFB1B016D4C5A4D1EB2C3A3BD0B82E633"><enum>576.</enum><header>Revaluation of
LIFO inventories of major integrated oil companies</header>
<subsection changed="added" id="H943D2FE8CB044122BB6911FA1D18A45C"><enum>(a)</enum><header>General
rule</header><text>Notwithstanding any other provision of law, if a taxpayer is
a major integrated oil company for its last taxable year ending in calendar
year 2005, the taxpayer shall—</text>
<paragraph changed="added" id="HC684488B54644AB9B38DC6118E3B0757"><enum>(1)</enum><text>increase,
effective as of the close of such taxable year, the value of each historic LIFO
layer of inventories of crude oil, natural gas, or any other petroleum product
(within the meaning of section 4611) by the layer adjustment amount, and</text>
</paragraph><paragraph changed="added" id="H4BE33C47E3A7489D867D6D34C9F4193A"><enum>(2)</enum><text>decrease its cost
of goods sold for such taxable year by the aggregate amount of the increases
under paragraph (1).</text>
</paragraph><continuation-text continuation-text-level="subsection">If the
aggregate amount of the increases under paragraph (1) exceed the taxpayer’s
cost of goods sold for such taxable year, the taxpayer’s gross income for such
taxable year shall be increased by the amount of such excess.</continuation-text></subsection><subsection changed="added" id="HE6D7AE7E6628455FAF76064BBFDE6FE3"><enum>(b)</enum><header>Layer adjustment
amount</header><text>For purposes of this section—</text>
<paragraph changed="added" id="H929896D689B44D3398957F5173FFC989"><enum>(1)</enum><header>In
General</header><text>The term <term>layer adjustment amount</term> means, with
respect to any historic LIFO layer, the product of—</text>
<subparagraph changed="added" id="H2AE21466628F4571ACFCB46334502FC9"><enum>(A)</enum><text>$18.75, and</text>
</subparagraph><subparagraph changed="added" id="H1E6C75164F85482487FCACF9BCBBED6D"><enum>(B)</enum><text>the number of
barrels of crude oil (or in the case of natural gas or other petroleum
products, the number of barrel-of-oil equivalents) represented by the
layer.</text>
</subparagraph></paragraph><paragraph changed="added" id="H98DE447F8338482796DD71D73561307D"><enum>(2)</enum><header>Barrel-of-oil
equivalent</header><text>The term <term>barrel-of-oil equivalent</term> has the
meaning given such term by section 29(d)(5) (as in effect before its
redesignation by the Energy Tax Incentives Act of 2005).</text>
</paragraph></subsection><subsection changed="added" id="H823F5AE077364670838B208D62FEBCB3"><enum>(c)</enum><header>Application of
requirement</header>
<paragraph changed="added" id="H8089491C93434A8CB5A8A8ED43853A03"><enum>(1)</enum><header>No change in
method of accounting</header><text>Any adjustment required by this section
shall not be treated as a change in method of accounting.</text>
</paragraph><paragraph changed="added" id="H0A2B2DF22A994CE58C0CCD30A228CADE"><enum>(2)</enum><header>Underpayments of
estimated tax</header><text>No addition to the tax shall be made under section
6655 of the Internal Revenue Code of 1986 (relating to failure by corporation
to pay estimated tax) with respect to any underpayment of an installment
required to be paid with respect to the taxable year described in subsection
(a) to the extent such underpayment was created or increased by this
section.</text>
</paragraph></subsection><subsection changed="added" commented="no" display-inline="no-display-inline" id="HA790D6C9E3284EE7B14EC2721B7F912D"><enum>(d)</enum><header>Major integrated
oil company</header><text>For purposes of this section, the term <term>major
integrated oil company</term> has the meaning given such term by section
43(f)(2) of the Internal Revenue Code of 1986.</text>
</subsection></section><section changed="added" id="H5A32F2CD0432453CB78FA75BEFCE1B88"><enum>577.</enum><header>Modifications
of foreign tax credit rules applicable to major integrated oil companies which
are dual capacity taxpayers</header>
<subsection changed="added" id="H6DBFB351222F4F0292AC9BC2E9BFFC3C"><enum>(a)</enum><header>In
general</header><text>Section 901 of the Internal Revenue Code of 1986
(relating to credit for taxes of foreign countries and of possessions of the
United States) is amended by redesignating subsection (m) as (n) and by
inserting after subsection (l) the following new subsection:</text>
<quoted-block id="H01FCF1311E3D4A8DA1A7BFBFB7D18615">
<subsection changed="added" id="H330D6C6BADDB4C03955E8A706762D088"><enum>(m)</enum><header>Special rules
relating to major integrated oil companies which are dual capacity
taxpayers</header>
<paragraph changed="added" id="H4D8C773A01694C39BEBD12F98AB43887"><enum>(1)</enum><header>General
rule</header><text>Notwithstanding any other provision of this chapter, any
amount paid or accrued by a dual capacity taxpayer which is a major integrated
oil company to a foreign country or possession of the United States for any
period shall not be considered a tax—</text>
<subparagraph changed="added" id="H5C1D220ABA8747FCB66F5BDE1CEF6706"><enum>(A)</enum><text>if, for such
period, the foreign country or possession does not impose a generally
applicable income tax, or</text>
</subparagraph><subparagraph changed="added" id="H6EC7050591104918B056DB9DCC87C028"><enum>(B)</enum><text>to the extent such
amount exceeds the amount (determined in accordance with regulations)
which—</text>
<clause changed="added" id="H3DCC4A8CC35D44EB8E5AF8800166F2D8"><enum>(i)</enum><text>is paid by such
dual capacity taxpayer pursuant to the generally applicable income tax imposed
by the country or possession, or</text>
</clause><clause changed="added" id="H2A05B3D03A8C4286992B1BEA5B80745B"><enum>(ii)</enum><text>would be paid if
the generally applicable income tax imposed by the country or possession were
applicable to such dual capacity taxpayer.</text>
</clause><continuation-text continuation-text-level="subparagraph">Nothing
in this paragraph shall be construed to imply the proper treatment of any such
amount not in excess of the amount determined under subparagraph (B).</continuation-text></subparagraph></paragraph><paragraph changed="added" id="HBA741CD260BB4821AA3E15941BFD731F"><enum>(2)</enum><header>Dual capacity
taxpayer</header><text>For purposes of this subsection, the term <term>dual
capacity taxpayer</term> means, with respect to any foreign country or
possession of the United States, a person who—</text>
<subparagraph changed="added" id="HF47E18DB149C4A3AB3A4805322411E1B"><enum>(A)</enum><text>is subject to a
levy of such country or possession, and</text>
</subparagraph><subparagraph changed="added" id="H558E27F312964A1F8211B1F45B9DCA99"><enum>(B)</enum><text>receives (or will
receive) directly or indirectly a specific economic benefit (as determined in
accordance with regulations) from such country or possession.</text>
</subparagraph></paragraph><paragraph changed="added" id="H72477FB9F9D94E98A068A582DC7F68B7"><enum>(3)</enum><header>Generally
applicable income tax</header><text>For purposes of this subsection—</text>
<subparagraph changed="added" id="H8638908D5EC4482DB8E96D887BA1D595"><enum>(A)</enum><header>In
General</header><text>The term <term>generally applicable income tax</term>
means an income tax (or a series of income taxes) which is generally imposed
under the laws of a foreign country or possession on income derived from the
conduct of a trade or business within such country or possession.</text>
</subparagraph><subparagraph changed="added" id="H3E9422E1914544FB80AE76188E32D153"><enum>(B)</enum><header>Exceptions</header><text>Such
term shall not include a tax unless it has substantial application, by its
terms and in practice, to—</text>
<clause changed="added" id="H8F79A466245B4E03942F57F704F5CEFF"><enum>(i)</enum><text>persons who are
not dual capacity taxpayers, and</text>
</clause><clause changed="added" id="HB8A926BBBCB74250B40168229AFEFD49"><enum>(ii)</enum><text>persons who are
citizens or residents of the foreign country or possession.</text>
</clause></subparagraph></paragraph><paragraph changed="added" id="H97E4742DDEF1474697CBDE535E3316C6"><enum>(4)</enum><header>Major integrated
oil company</header><text>For purposes of this subsection, the term <term>major
integrated oil company</term> has the meaning given such term by section
43(f)(2).</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection changed="added" id="H97B9637B9A8246EA8F2DC9DABAA02F7E"><enum>(b)</enum><header>Effective
date</header>
<paragraph changed="added" id="HA40CFF1E2ED54F43A61DA092D8898E50"><enum>(1)</enum><header>In
general</header><text>The amendments made by this section shall apply to taxes
paid or accrued in taxable years beginning after the date of the enactment of
this Act.</text>
</paragraph><paragraph changed="added" commented="no" display-inline="no-display-inline" id="H1D7C0A56ABD4421790FC280B4A8A8545"><enum>(2)</enum><header>Contrary treaty
obligations upheld</header><text>The amendments made by this section shall not
apply to the extent contrary to any treaty obligation of the United
States.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H5C8E395006E242588770EE2214327D3"><enum>578.</enum><header>Denial of
deduction for income attributable to domestic production of oil, natural gas,
or primary products thereof</header>
<subsection id="HE12C5D09807646329175AE4BB68F0838"><enum>(a)</enum><header>In
general</header><text>Subparagraph (B) of section 199(c)(4) of the Internal
Revenue Code of 1986 (relating to exceptions) is amended by striking
<quote>or</quote> at the end of clause (ii), by striking the period at the end
of clause (iii) and inserting <quote>, or</quote>, and by inserting after
clause (iii) the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="H9881E060A8764FF4A83EFFDAC45D2915" style="OLC">
<clause id="HC39AABDAAF044DE5AA8FC475364241D4"><enum>(iv)</enum><text>in the case of
any major integrated oil company (as defined in section 43(f)(2)), the
production, refining, processing, transportation, or distribution of oil,
natural gas, or any primary product thereof during any taxable year described
in section
167(h)(5)(A).</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="HA41F5B923B7D4931ACECEF35E8394E79"><enum>(b)</enum><header>Conforming
amendments</header><text>Section 199(c)(4) of the Internal Revenue Code of 1986
is amended—</text>
<paragraph id="H8AA4A09BAA724BF290006324B2313C05"><enum>(1)</enum><text display-inline="yes-display-inline">in subparagraph (A)(i)(III) by striking
<quote>electricity, natural gas,</quote> and inserting
<quote>electricity</quote>, and</text>
</paragraph><paragraph id="H8CE900788AFB4CE0ACEB11BCCA8212DC"><enum>(2)</enum><text display-inline="yes-display-inline">in subparagraph (B)(ii) by striking
<quote>electricity, natural gas,</quote> and inserting
<quote>electricity</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H9CCA76E3A44B4C98B4055CC00092F1FF"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2005.</text>
</subsection></section><section id="ID041d968a646b4106a056aaca8b1647f7"><enum>579.</enum><header>Rules relating
to foreign oil and gas income</header>
<subsection id="IDd7b70066e91045aaa213c54b54c6d0ac"><enum>(a)</enum><header>Separate basket
for foreign tax credit</header>
<paragraph id="IDeae460bc721a4289b650e6ac4e55be02"><enum>(1)</enum><header>Years before
2007</header><text>Paragraph (1) of section 904(d) of the Internal Revenue Code
of 1986 (relating to separate application of section with respect to certain
categories of income), as in effect for years beginning before 2007, is amended
by striking `and' at the end of subparagraph (H), by redesignating subparagraph
(I) as subparagraph (J), and by inserting after subparagraph (H) the following
new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="id40AB7A5113574040B578D3D5C0444A89" style="OLC">
<subparagraph id="IDdaaae9f1c4a04342bcb8e1363f157fca"><enum>(I)</enum><text>foreign oil and
gas income,
and</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="IDf95b7ab638b640e98804dfb1b743cfbd"><enum>(2)</enum><header>2007 And
after</header><text>Paragraph (1) of section 904(d) of such Code, as in effect
for years beginning after 2006, is amended by striking <quote>and</quote> at
the end of subparagraph (A), by striking the period at the end of subparagraph
(B) and inserting <quote>, and</quote>, and by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="idAE0F86C62FC2441EA300AAE92FC0C91E" style="OLC">
<subparagraph id="ID0f207f386c9b4ae9a3060407a85c1be0"><enum>(C)</enum><text>foreign oil and
gas
income.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="IDa44030549c464ae689221a2fd23bf76d"><enum>(b)</enum><header>Definition</header>
<paragraph id="ID4a96bbe9c270462d8c4fb6b473c058f9"><enum>(1)</enum><header>Years before
2007</header><text>Paragraph (2) of section 904(d) of the Internal Revenue Code
of 1986, as in effect for years beginning before 2007, is amended by
redesignating subparagraphs (H) and (I) as subparagraphs (I) and (J),
respectively, and by inserting after subparagraph (G) the following new
subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="id04C3E8CE0C4D42D0AE7175125DA9B091" style="OLC">
<subparagraph id="IDc32b0b37bf6f4871972fbd08a9024a1c"><enum>(H)</enum><header>Foreign oil and
gas income</header><text>The term <term>foreign oil and gas income</term> has
the meaning given such term by section
954(g).</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="ID27b94ba5662c4d0091d1f92c7677efdf"><enum>(2)</enum><header>2007 And
after</header><text>Section 904(d)(2) of such Code, as in effect for years
after 2006, is amended by redesignating subparagraphs (J) and (K) as
subparagraphs (K) and (L) and by inserting after subparagraph (I) the
following:</text>
<quoted-block display-inline="no-display-inline" id="id83A0BC29D2B34A5F8CD2E6C1BA1B8030" style="OLC">
<subparagraph id="IDdba47816eeb549d8881c0cfaf01000fc"><enum>(J)</enum><header>Foreign oil and
gas income</header><text>For purposes of this section—</text>
<clause id="ID974990503bb046728a6d61b656206cc0"><enum>(i)</enum><header>In
general</header><text>The term <term>foreign oil and gas income</term> has the
meaning given such term by section 954(g).</text>
</clause><clause id="ID4611266a91714351bc081ef4e0010c78"><enum>(ii)</enum><header>Coordination</header><text>Passive
category income and general category income shall not include foreign oil and
gas income (as so
defined).</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="ID6c6aaadf34ea4a4e934670f555f607b0"><enum>(c)</enum><header>Conforming
amendments</header>
<paragraph id="ID776566e833a445f0b05f248deeb7b397"><enum>(1)</enum><text>Section
904(d)(3)(F)(i) of the Internal Revenue Code of 1986 is amended by striking
<quote>or (E)</quote> and inserting <quote>(E), or (I)</quote>.</text>
</paragraph><paragraph id="IDca229e4b9fe348ce9147d851fd22162b"><enum>(2)</enum><text>Section 907(a) of
such Code is hereby repealed.</text>
</paragraph><paragraph id="ID5374f63d239c4f45866520873a168eab"><enum>(3)</enum><text>Section 907(c)(4)
of such Code is hereby repealed.</text>
</paragraph><paragraph id="IDfde546bdbbd8429faa5df55d2a87ff70"><enum>(4)</enum><text>Section 907(f) of
such Code is hereby repealed.</text>
</paragraph></subsection><subsection id="ID97e074fe4e8c426595128475c2c4ff53"><enum>(d)</enum><header>Effective
dates</header>
<paragraph id="IDbe8fcfa0f8ce43eead312bdfd87089f7"><enum>(1)</enum><header>In
general</header><text>The amendments made by this section shall apply to
taxable years beginning after the date of the enactment of this Act.</text>
</paragraph><paragraph id="ID9d05bb68b82e4ecdacfcff4b949dd234"><enum>(2)</enum><header>Years after
2006</header><text>The amendments made by paragraphs (1)(B) and (2)(B) shall
apply to taxable years beginning after December 31, 2006.</text>
</paragraph><paragraph id="IDef1d4d8357784b67a12f3271e42293a6"><enum>(3)</enum><header>Transitional
rules</header>
<subparagraph id="ID7c5e4a2bec0749daa1863d076fd86099"><enum>(A)</enum><header>Separate basket
treatment</header><text>Any taxes paid or accrued in a taxable year beginning
on or before the date of the enactment of this Act, with respect to income
which was described in subparagraph (I) of section 904(d)(1) of such Code (as
in effect on the day before the date of the enactment of this Act), shall be
treated as taxes paid or accrued with respect to foreign oil and gas income to
the extent the taxpayer establishes to the satisfaction of the Secretary of the
Treasury that such taxes were paid or accrued with respect to foreign oil and
gas income.</text>
</subparagraph><subparagraph id="IDcd8c9315028f409cabb611e1b84db573"><enum>(B)</enum><header>Carryovers</header><text>Any
unused oil and gas extraction taxes which under section 907(f) of such Code (as
so in effect) would have been allowable as a carryover to the taxpayer's first
taxable year beginning after the date of the enactment of this Act (without
regard to the limitation of paragraph (2) of such section 907(f) for first
taxable year) shall be allowed as carryovers under section 904(c) of such Code
in the same manner as if such taxes were unused taxes under such section 904(c)
with respect to foreign oil and gas extraction income.</text>
</subparagraph><subparagraph id="ID3f9dddfd5d81461fafa71afc6fe86bee"><enum>(C)</enum><header>Losses</header><text>The
amendment made by subsection (c)(3) shall not apply to foreign oil and gas
extraction losses arising in taxable years beginning on or before the date of
the enactment of this Act.</text>
</subparagraph></paragraph></subsection></section><section id="IDd51ef375250d4c879aa2ac65270ba6b0"><enum>580.</enum><header>Elimination of
deferral for foreign oil and gas extraction income</header>
<subsection id="IDa3dcb97f1eb64dfea7dd8d19678d062c"><enum>(a)</enum><header>General
rule</header><text>Paragraph (1) of section 954(g) of the Internal Revenue Code
of 1986 (defining foreign base company oil related income) is amended to read
as follows:</text>
<quoted-block display-inline="no-display-inline" id="id78A561CB2A40487280A506ABC75294B7" style="OLC">
<paragraph id="IDf4df095bd6e44e30ae047938335fb74d"><enum>(1)</enum><header>In
general</header><text>Except as otherwise provided in this subsection, the term
<term>foreign oil and gas income</term> means, in the case of any major
integrated oil company (as defined in section 43(f)(2)) during any taxable year
described in section 167(h)(5)(A), any income of a kind which would be taken
into account in determining the amount of—</text>
<subparagraph id="ID9e52ebad5cab4eba9d7c23022732afa7"><enum>(A)</enum><text>foreign oil and
gas extraction income (as defined in section 907(c)), or</text>
</subparagraph><subparagraph id="ID1eace3c2ca1f4cb9a32c270576f1e4a4"><enum>(B)</enum><text>foreign oil
related income (as defined in section
907(c)).</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="ID53cd63683c7f4984b1c4f9835205f7fb"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="ID97d601c188e94280958c65c40510629f"><enum>(1)</enum><text>Subsections
(a)(5), (b)(5), and (b)(6) of section 954, and section 952(c)(1)(B)(ii)(I) of
the Internal Revenue Code of 1986, are each amended by striking <quote>base
company oil related income</quote> each place it appears (including in the
heading of subsection (b)(8)) and inserting <quote>oil and gas
income</quote>.</text>
</paragraph><paragraph id="ID81b9f817b3bc4409b6925ae06fcab1e0"><enum>(2)</enum><text>Subsection (b)(4)
of section 954 of such Code is amended by striking <quote>base company
oil-related income</quote> and inserting <quote>oil and gas
income</quote>.</text>
</paragraph><paragraph id="ID84ebfba2c0ac4e3bac0dbc97a72d4024"><enum>(3)</enum><text>The subsection
heading for subsection (g) of section 954 of such Code is amended by striking
<quote><header-in-text level="subsection" style="OLC">Foreign base company oil
related income</header-in-text></quote> and inserting <quote><header-in-text level="subsection" style="OLC">Foreign oil and gas
income</header-in-text></quote>.</text>
</paragraph><paragraph id="ID7f693025ce724694955b890e20a1b6a6"><enum>(4)</enum><text>Subparagraph (A)
of section 954(g)(2) of such Code is amended by striking <quote>foreign base
company oil related income</quote> and inserting <quote>foreign oil and gas
income</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDac2df53e457645f494b507d1caa65ac1"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years of foreign corporations beginning after the date of the enactment of this
Act, and to taxable years of United States shareholders ending with or within
such taxable years of foreign corporations.</text>
</subsection></section></subtitle><subtitle id="id5A7B7B7E23204B9BBF587D40BCEAAAC3"><enum>L</enum><header>Protection and
retention of value of publicly-owned energy resources</header>
<section id="ID29286ba44def4bec9689c09629148ca0"><enum>591.</enum><header>Suspension of
royalty relief</header>
<subsection id="ID670c9fa885aa4fc9bb998e35ed0d8b16"><enum>(a)</enum><header>Requirement</header><text>Subject
to subsection (b), the Secretary of the Interior (referred to in this subtitle
as the <term>Secretary</term>) shall suspend the application of any provision
of Federal law under which a person would otherwise be provided relief from a
requirement to pay a royalty for the production of oil or natural gas from
Federal land (including submerged land) occurring after the date of enactment
of this Act during a period in which—</text>
<paragraph id="ID71c66fea83574cdc81a04e7554ae98da"><enum>(1)</enum><text>for the
production of oil, the average price of crude oil in the United States during
the 4-week period immediately preceding the suspension is greater than $34.71
per barrel; and</text>
</paragraph><paragraph id="ID245a2ebef5d54f309a93a8f21f11d590"><enum>(2)</enum><text>for the
production of natural gas, the average wellhead price of natural gas in the
United States during the 4-week period immediately preceding the suspension is
greater than $4.34 per 1,000 cubic feet.</text>
</paragraph></subsection><subsection id="ID2a145402bc9f4f2cbda62f06df6f44eb"><enum>(b)</enum><header>Determination
of average prices</header>
<paragraph id="id34D3326B987947CD88B9D35E0063503A"><enum>(1)</enum><header>Data</header><text>For
purposes of subsection (a), the Secretary shall determine average prices,
taking into consideration the most recent data reported by the Energy
Information Administration.</text>
</paragraph><paragraph id="id93E77DFB61CA4CCB936978CDCBBAFDBF"><enum>(2)</enum><header>Adjustment</header><text>For
fiscal year 2008 and each subsequent fiscal year, each dollar amount specified
in subsection (a) shall be adjusted to reflect changes for the 12-month period
ending the preceding November 30 in the Consumer Price Index for All Urban
Consumers published by the Bureau of Labor Statistics of the Department of
Labor.</text>
</paragraph></subsection></section><section id="IDe82ba2e5d0ad4e5c894096a7c0d0ae27"><enum>592.</enum><header>Renegotiation
of existing leases</header>
<subsection id="ID38084b6b18ac49f59707e6a157ce3abf"><enum>(a)</enum><header>In
general</header><text>Not later than 90 days after the date of enactment of
this Act, the Secretary shall make a determination regarding the ability of the
Secretary to renegotiate leases that—</text>
<paragraph id="id22CCC79238FB4E1A93C860C2CD810D60"><enum>(1)</enum><text>are in effect
prior to the date of enactment of this Act;</text>
</paragraph><paragraph id="idBEAD1C026C3741FAADA52D9134843ECD"><enum>(2)</enum><text>authorize the
production of oil or natural gas on Federal land; and</text>
</paragraph><paragraph id="id5F4633EF7CAE45EC96CE375E97B8A61B"><enum>(3)</enum><text>do not contain
terms at least equal to the royalty relief price thresholds described in
section 591.</text>
</paragraph></subsection><subsection id="IDd459f9bc009e4910858c5303962bbb77"><enum>(b)</enum><header>Affirmative
determination</header>
<paragraph id="id219ABB6D2F014959A451670EE3BA7DC1"><enum>(1)</enum><header>In
general</header><text>If the Secretary determines that the Secretary has the
authority to renegotiate leases described in subsection (a), the Secretary
shall immediately offer to renegotiate the terms of those leases to include the
royalty relief price thresholds described in section 591.</text>
</paragraph><paragraph id="id93CAE6B4289D4ADA832F4B1EFE98C5DC"><enum>(2)</enum><header>Failure to
renegotiate</header><text>If a lessee fails to renegotiate under paragraph (1),
the Secretary shall preclude that lessee from—</text>
<subparagraph id="idC6AB30EA17CE47BBAF1D6E5F6C25738C"><enum>(A)</enum><text>entering into new
leases; or</text>
</subparagraph><subparagraph id="idB1A47D38D2334FFCAD96DF25550EFB33"><enum>(B)</enum><text>obtaining other
existing leases or interests in leases.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDa001f7b195cc4184988aa6e70009e6c3"><enum>(c)</enum><header>Negative
determination</header><text>If the Secretary determines that the Secretary does
not have the authority to renegotiate leases described in subsection (a), the
Secretary shall immediately submit to Congress recommendations for changes to
law that will—</text>
<paragraph commented="no" display-inline="no-display-inline" id="idCF280CA04C444E5BA2F9FF480DF16485"><enum>(1)</enum><text>provide the
authority necessary; or</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id49AB8426114347CEBEC86FFB0757A5D1"><enum>(2)</enum><text>produce the same
level of revenue from leases for the production of oil and gas from Federal
land that will otherwise be lost due to the failure of lessees to renegotiate
and modify the terms of existing leases as described in subsection
(b)(1).</text>
</paragraph></subsection></section></subtitle>