110 HR 6134 IH: Renewable Fuel Adjustment Act of U.S. House of Representatives 2008-05-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 2d Session H. R. 6134 IN THE HOUSE OF REPRESENTATIVES May 22, 2008 Mr. Barton of Texas (for himself, Mr. Cantor, Mr. Stearns, Mr. Deal of Georgia, Mr. Shadegg, Mr. Pickering, Mr. Radanovich, Mrs. Bono Mack, Mrs. Myrick, Mr. Sullivan, Mr. Burgess, Mrs. Blackburn, Mr. Gallegly, Mr. Pearce, Mr. McCrery, Mr. McCaul of Texas, Mr. Kuhl of New York, and Mr. Issa) introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To restore certain fuels provisions enacted by section 1501 of the Energy Policy Act of 2005, and for other purposes.

1.

Short title

This Act may be cited as the Renewable Fuel Adjustment Act of 2008.

2.

Restoration of certain renewable fuel provisions

Section 202 of the Energy Independence and Security Act of 2007 is amended to read as follows:

202

Renewable fuel standard

When the Secretary submits to Congress the report provided for in section 203 of this Act, the President shall recommend to Congress appropriate changes, if any, to section 211(o) of the Clean Air Act based upon the findings in the report.

.

3.

Repeal and study

(a)

Repeal

Section 201 of the Energy Independence and Security Act of 2007 is repealed. (b)

Study

Paragraph (11) of section 211(o) of the Clean Air Act, as added by section 203 of the Energy Independence and Security Act of 2007, is amended to read as follows: (11)

Study

The Secretary of Energy, in consultation with the Secretary of Agriculture and the Administrator of the Environmental Protection Agency, shall enter into an arrangement with the National Academy of Sciences under which the Academy shall assess the impact of Federal and State requirements to use ethanol on producers of feed grains, livestock, food, forest products, energy, and other consumer goods. .

4.

Reduced ethanol blender credit for ethanol derived from corn kernels, soybeans, or other food or feed substances

(a)

In general

Subsection (h) of section 40 of the Internal Revenue Code of 1986 (relating to reduced credit for ethanol blenders) is amended by adding at the end the following new paragraph: (3)

Additional reductions for ethanol derived from corn kernels, soybeans, or other food or feed substances

In the case of ethanol derived from corn kernels, soybeans, or any other substance that is suitable for human food or livestock feed consumption, the table contained in paragraph (2) shall be applied by substituting the amounts in the following table for the otherwise applicable blender amounts and low-proof blender amounts: In the case of any sale or use during calendar year:The blender amount is:The low-proof blender amount is: 20094533.33 20103324.44 20111511.11 . (b)

Effective date

The amendment made by this section shall apply to sales and uses after December 31, 2008.