[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6207 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6207

  To develop American energy independence, lower gas prices, and open 
                  reliable national sources of energy.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              June 9, 2008

   Mr. Akin introduced the following bill; which was referred to the 
Committee on Energy and Commerce, and in addition to the Committees on 
   Ways and Means, Rules, and Natural Resources, 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 develop American energy independence, lower gas prices, and open 
                  reliable national sources of energy.

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

SECTION 1. SHORT TITLE, ETC.

    (a) Short Title.--This Act may be cited as the ``$150 Barrel Energy 
Extortion Act of 2008''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title, etc.
                          TITLE I--REFINERIES

Sec. 101. Issuance of guidance.
Sec. 102. Tax-exempt financing of domestic use oil refinery facilities.
Sec. 103. Designation and availability of Federal lands for oil and 
                            natural gas refineries.
                           TITLE II--NUCLEAR

Sec. 201. Incentives for innovative technologies.
Sec. 202. Standby support for certain nuclear plant delays.
Sec. 203. Authorization for Nuclear Power 2010 Program.
Sec. 204. Domestic manufacturing base for nuclear components and 
                            equipment.
Sec. 205. Nuclear energy workforce.
Sec. 206. Investment Tax Credit for Investments in Nuclear Power 
                            Facilities.
Sec. 207. National Nuclear Energy Council.
Sec. 208. Temporary Spent Nuclear Fuel Storage Agreements.
Sec. 209. Confidence in availability of waste disposal.
                          TITLE III--DRILLING

                       Subtitle A--Tax Provisions

Sec. 301. Credit for producing fuel from nonconventional sources to 
                            apply to gas produced onshore from 
                            formations more than 15,000 feet deep.
Sec. 302. Tax credit for carbon dioxide captured from industrial 
                            sources and used in enhanced oil and 
                            natural gas recovery.
   Subtitle B--Termination of Congressional Moratoria on Oil and Gas 
               Development on the Outer Continental Shelf

Sec. 311. Termination of laws prohibiting expenditures for oil and 
                            natural gas leasing and preleasing 
                            activities regarding areas of the outer 
                            continental shelf.
   Subtitle C--Oil and Gas Development on the Coastal Plain of Alaska

Sec. 321. Short title.
Sec. 322. Definitions.
Sec. 323. Leasing program for lands within the Coastal Plain.
Sec. 324. Lease sales.
Sec. 325. Grant of leases by the Secretary.
Sec. 326. Lease terms and conditions.
Sec. 327. Coastal plain environmental protection.
Sec. 328. Expedited judicial review.
Sec. 329. Federal and State distribution of revenues.
Sec. 330. Rights-of-way across the Coastal Plain.
Sec. 331. Conveyance.
Sec. 332. Local government impact aid and community service assistance.
                        TITLE IV--EFFECTIVE DATE

Sec. 401. Effective date.

                          TITLE I--REFINERIES

SEC. 101. ISSUANCE OF GUIDANCE.

    The Secretary of the Treasury shall, not later than 60 days after 
the effective date of this Act, prescribe the regulations described in 
paragraph (1) of section 179C(b) of the Internal Revenue Code of 1986 
(relating to election to expense certain refineries).

SEC. 102. TAX-EXEMPT FINANCING OF DOMESTIC USE OIL REFINERY FACILITIES.

    (a) In General.--
            (1) Treatment as exempt facility bond.--Subsection (a) of 
        section 142 of the Internal Revenue Code of 1986 (relating to 
        exempt facility bond) is amended by striking ``or'' at the end 
        of paragraph (14), by striking the period at the end of 
        paragraph (15) and inserting ``, or'', and by inserting at the 
        end the following new paragraph:
            ``(16) domestic use oil refinery facilities.''.
            (2) Domestic use oil refinery facilities.--Section 142 of 
        such Code is amended by adding at the end the following new 
        subsection:
    ``(n) Domestic Use Oil Refinery Facilities.--
            ``(1) In general.--For purposes of subsection (a)(16), the 
        term `domestic use oil refinery facility' means any facility in 
        the United States--
                    ``(A) which processes liquid fuel from crude oil, 
                and
                    ``(B) all of the output of which it is reasonably 
                certain ultimate consumption will occur in the United 
                States.
            ``(2) Election to terminate tax-exempt bond financing by 
        certain refineries.--In the case of a facility financed with 
        bonds which would cease to be tax-exempt by reason of the 
        failure to meet the domestic use requirement of this 
        subsection, rules similar to the rules of subsection (f)(4) 
        shall apply for purposes of this section.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to bonds issued after the effective date of this Act.

SEC. 103. DESIGNATION AND AVAILABILITY OF FEDERAL LANDS FOR OIL AND 
              NATURAL GAS REFINERIES.

    (a) Designation.--Within 18 months after the effective date of this 
Act, the President shall designate at least ten sites on Federal lands 
that are suitable for the siting of an oil refinery or natural gas 
refinery (or both).
    (b) Availability of Lands.--Within 24 months after the effective 
date of this Act, the President shall make each site designated under 
subsection (a) available to the private sector for construction of an 
oil refinery or natural gas refinery (or both), as appropriate.

                           TITLE II--NUCLEAR

SEC. 201. INCENTIVES FOR INNOVATIVE TECHNOLOGIES.

    (a) Definition of Project Cost.--Section 1701 of the Energy Policy 
Act of 2005 (42 U.S.C. 16511) is amended by adding at the end the 
following new paragraph:
            ``(6) Project cost.--The term `project cost' means all 
        costs associated with the development, planning, design, 
        engineering, permitting and licensing, construction, 
        commissioning, start-up, shakedown and financing of the 
        facility, including but not limited to reasonable escalation 
        and contingencies, the cost of and fees for the guarantee, 
        reasonably required reserve funds, initial working capital and 
        interest during construction.''.
    (b) Terms and Conditions.--Section 1702(b) of the Energy Policy Act 
of 2005 (42 U.S.C. 16512(b)) is amended to read as follows:
    ``(b) Specific Appropriation or Contribution.--
            ``(1) In general.--No guarantee shall be made unless--
                    ``(A) an appropriation for the cost has been made;
                    ``(B) the Secretary has received from the borrower 
                a payment in full for the cost of the obligation and 
                deposited the payment into the Treasury; or
                    ``(C) a combination of subparagraphs (A) and (B) 
                has been made, that when combined is sufficient to 
                cover the cost of the obligation.
            ``(2) Relation to other laws.--Section 504(b) of the 
        Federal Credit Reform Act of 1990 (2 U.S.C. 661c(b)) shall not 
        apply to a loan guarantee made in accordance with paragraph 
        (1)(B).''.
    (c) Amount.--Section 1702(c) of the Energy Policy Act of 2005 (42 
U.S.C. 16512(c)) is amended to read as follows:
    ``(c) Amount.--
            ``(1) In general.--Subject to paragraph (2), the Secretary 
        shall guarantee 100 percent of the obligation for a facility 
        that is the subject of the guarantee, or a lesser amount if 
        requested by the borrower.
            ``(2) Limitation.--The total amount of loans guaranteed for 
        a facility by the Secretary shall not exceed 80 percent of the 
        total cost of the facility, as estimated at the time at which 
        the guarantee is issued.''.
    (d) Fees.--Section 1702(h) of the Energy Policy Act of 2005 (42 
U.S.C. 16512(h)) is amended by striking paragraph (2) and inserting the 
following:
            ``(2) Availability.--Fees collected under this subsection 
        shall--
                    ``(A) be deposited by the Secretary into a special 
                fund in the Treasury to be known as the `Incentives For 
                Innovative Technologies Fund'; and
                    ``(B) remain available to the Secretary for 
                expenditure, without further appropriation or fiscal 
                year limitation, for administrative expenses incurred 
                in carrying out this title.''.

SEC. 202. STANDBY SUPPORT FOR CERTAIN NUCLEAR PLANT DELAYS.

    (a) Definitions.--Section 638(a) of the Energy Policy Act of 2005 
(42 U.S.C. 16014(a)) is amended as follows:
            (1) By inserting the following:
            ``(4) Full power operation.--The term `full power 
        operation' means whichever occurs first of--
                    ``(A) the `commercial operation date' or the 
                equivalent under the terms of the financing documents 
                for such facility; or
                    ``(B) operation of such facility at an average of 
                50 percent or greater of nameplate capacity over any 
                consecutive 30-day period.
            ``(5) Increased project costs.--The term `increased project 
        costs' means the increased cost of constructing, commissioning, 
        testing, operating, or maintaining a reactor prior to full-
        power operation incurred as a result of a delay covered by the 
        contract, including but not limited to costs of demobilization 
        and remobilization, increased costs of equipment, materials and 
        labor due to delay (including idle time), increased general and 
        administrative costs, and escalation costs for completing 
        construction.
            ``(6) Litigation.--The term `litigation' means adjudication 
        in Federal, State, local, or tribal courts and administrative 
        proceedings or hearings at or before Federal, State, local, or 
        tribal agencies or administrative bodies.''.
            (2) By redesignating paragraph (4) as paragraph (7).
    (b) Contract Authority.--Section 638(b) of the Energy Policy Act of 
2005 (42 U.S.C. 16014(b)) is amended by striking paragraph (1) and 
inserting the following:
            ``(1) In general.--The Secretary may enter into contracts 
        under this section with sponsors of an advanced nuclear 
        facility that cover at any one time outstanding a total of not 
        more than 6 reactors, with the 6 reactors consisting of not 
        more than 3 different reactor designs, in accordance with 
        paragraph (2). In the event that any contract entered into 
        under this section terminates or expires without a claim being 
        paid by the Secretary thereunder, then the Secretary may enter 
        into a new contract under this section in replacement or 
        substitution for such contract.''.
    (c) Covered Costs.--Section 638(d) of the Energy Policy Act of 2005 
(42. U.S.C. 16014(d)) is amended by striking paragraphs (2) and (3) and 
inserting the following:
            ``(2) Coverage.--In the case of reactors that receive 
        combined licenses and on which construction is commenced, the 
        Secretary shall pay--
                    ``(A) 100 percent of the covered costs of delay 
                that occur after the initial 30-day period of covered 
                delay; but
                    ``(B) not more than $500,000,000 per contract.
            ``(3) Covered debt obligations.--Debt obligations covered 
        under subparagraph (A) of paragraph (5) shall include but not 
        be limited to debt obligations incurred to pay increased 
        project costs.''.
    (d) Dispute Resolution.--Section 638 of the Energy Policy Act of 
2005 (42 U.S.C. 16014) is amended as follows:
            (1) By inserting the following:
    ``(f) Dispute Resolution.--Any controversy or claim arising out of 
or relating to any contract entered into under this section shall be 
determined by arbitration in Washington, DC, according to the then 
prevailing Commercial Arbitration Rules of the American Arbitration 
Association. A decision by the arbitrator or arbitrators shall be final 
and binding, and any court having jurisdiction may enter judgment on 
it.''.
            (2) By redesignating subsections (f), (g), and (h) as 
        subsections (g), (h), and (i) respectively.

SEC. 203. AUTHORIZATION FOR NUCLEAR POWER 2010 PROGRAM.

    Section 952(c) of the Energy Policy Act of 2005 (42 U.S.C. 16014) 
is amended by striking paragraphs (1) and (2) and inserting the 
following:
            ``(1) In general.--The Secretary shall carry out a Nuclear 
        Power 2010 Program to position the Nation to start construction 
        of new nuclear power plants by 2010 or as close to 2010 as 
        achievable.
            ``(2) Scope of program.--The Nuclear Power 2010 Program 
        shall be cost-shared with the private sector and shall support 
        the following objectives:
                    ``(A) Demonstrating the licensing process for new 
                nuclear power plants, including the Nuclear Regulatory 
                Commission process for obtaining early site permits 
                (ESPs), combined construction/operating licenses 
                (COLs), and design certifications.
                    ``(B) Conducting first-of-a-kind design and 
                engineering work on at least two advanced nuclear 
                reactor designs sufficient to bring those designs to a 
                state of design completion sufficient to allow 
                development of firm cost estimates.
            ``(3) Authorization of appropriations.--There are 
        authorized to be appropriated to the Secretary to carry out the 
        Nuclear Power 2010 Program:
                    ``(A) $182,800,000 for fiscal year 2008.
                    ``(B) $159,600,000 for fiscal year 2009.
                    ``(C) $135,600,000 for fiscal year 2010.
                    ``(D) $46,900,000 for fiscal year 2011.
                    ``(E) $2,200,000 for fiscal year 2012.''.

SEC. 204. DOMESTIC MANUFACTURING BASE FOR NUCLEAR COMPONENTS AND 
              EQUIPMENT.

    (a) Establishment of Interagency Working Group.--
            (1) Purposes.--The purposes of this subsection are--
                    (A) to increase the competitiveness of the United 
                States nuclear energy products and services industries;
                    (B) to identify the stimulus or incentives 
                necessary to cause United States manufacturers of 
                nuclear energy products to expand manufacturing 
                capacity;
                    (C) to facilitate the export of United States 
                nuclear energy products and services;
                    (D) to reduce the trade deficit of the United 
                States through the export of United States nuclear 
                energy products and services;
                    (E) to retain and create nuclear energy 
                manufacturing and related service jobs in the United 
                States;
                    (F) to integrate the objectives in subparagraphs 
                (A) through (E) in a manner consistent with the 
                interests of the United States, into the foreign policy 
                of the United States; and
                    (G) to authorize funds for increasing United States 
                capacity to manufacture nuclear energy products and 
                supply nuclear energy services.
            (2) Establishment.--
                    (A) There shall be established an interagency 
                working group that, in consultation with representative 
                industry organizations and manufacturers of nuclear 
                energy products, shall make recommendations to 
                coordinate the actions and programs of the Federal 
                Government in order to promote increasing domestic 
                manufacturing capacity and export of domestic nuclear 
                energy products and services.
                    (B) The Interagency Working Group shall be composed 
                of--
                            (i) the Secretary of Energy, or the 
                        Secretary's designee, who shall chair the 
                        interagency working group and shall provide 
                        staff for carrying out the functions of the 
                        interagency working group;
                            (ii) representatives of--
                                    (I) the Department of Energy;
                                    (II) the Department of Commerce;
                                    (III) the Department of Defense;
                                    (IV) the Department of the 
                                Treasury;
                                    (V) the Department of State;
                                    (VI) the Environmental Protection 
                                Agency;
                                    (VII) the United States Agency for 
                                International Development;
                                    (VIII) the Export-Import Bank of 
                                the United States;
                                    (IX) the Trade and Development 
                                Agency;
                                    (X) the Small Business 
                                Administration;
                                    (XI) the Office of the United 
                                States Trade Representative; and
                                    (XII) other Federal agencies, as 
                                determined by the President.
                    (C) The heads of appropriate agencies shall detail 
                such personnel and furnish such services to the 
                interagency group, with or without reimbursement, as 
                may be necessary to carry out the group's functions.
            (3) Duties of the interagency working group.--
                    (A) Not later than 6 months after the effective 
                date of this Act, the interagency working group 
                established under paragraph (2)(A) shall identify the 
                actions necessary to promote the safe development and 
                application in foreign countries of nuclear energy 
                products and services in order to--
                            (i) increase electricity generation from 
                        nuclear energy sources through development of 
                        new generation facilities;
                            (ii) improve the efficiency, safety, and 
                        reliability of existing nuclear generating 
                        facilities through modifications; and
                            (iii) enhance the safe treatment, handling, 
                        storage, and disposal of used nuclear fuel.
                    (B) Not later than 6 months after the effective 
                date of this Act, the interagency working group shall 
                identify mechanisms (including tax stimulus for 
                investment, loans and loan guarantees, and grants) 
                necessary for United States companies to increase their 
                capacity to produce or provide nuclear energy products 
                and services, and to increase their exports of nuclear 
                energy products and services. The interagency working 
                group shall identify administrative or legislative 
                initiatives necessary to--
                            (i) encourage United States companies to 
                        increase their manufacturing capacity for 
                        nuclear energy products;
                            (ii) provide technical and financial 
                        assistance and support to small and mid-sized 
                        businesses to establish quality assurance 
                        programs in accordance with domestic and 
                        international nuclear quality assurance code 
                        requirements;
                            (iii) encourage, through financial 
                        incentives, private sector capital investment 
                        to expand manufacturing capacity; and
                            (iv) provide technical assistance and 
                        financial incentives to small and mid-sized 
                        businesses to develop the workforce necessary 
                        to increase manufacturing capacity and meet 
                        domestic and international nuclear quality 
                        assurance code requirements.
                    (C) Not later than 9 months after the effective 
                date of this Act, the interagency working group shall 
                provide a report to Congress on its findings under 
                subparagraphs (A) and (B), including recommendations 
                for new legislative authority where necessary.
            (4) Trade assistance.--The interagency working group shall 
        encourage the member agencies of the interagency working group 
        to--
                    (A) provide technical training and education for 
                international development personnel and local users in 
                their own country;
                    (B) provide financial and technical assistance to 
                nonprofit institutions that support the marketing and 
                export efforts of domestic companies that provide 
                nuclear energy products and services;
                    (C) develop nuclear energy projects in foreign 
                countries;
                    (D) provide technical assistance and training 
                materials to loan officers of the World Bank, 
                international lending institutions, commercial and 
                energy attaches at embassies of the United States and 
                other appropriate personnel in order to provide 
                information about nuclear energy products and services 
                to foreign governments or other potential project 
                sponsors;
                    (E) support, through financial incentives, private 
                sector efforts to commercialize and export nuclear 
                energy products and services in accordance with the 
                subsidy codes of the World Trade Organization; and
                    (F) augment budgets for trade and development 
                programs in order to support pre-feasibility or 
                feasibility studies for projects that utilize nuclear 
                energy products and services.
            (5) Authorization of appropriations.--There are authorized 
        to be appropriated to the Secretary of Energy for purposes of 
        carrying out this section $20,000,000 for fiscal years 2008 and 
        2009.
    (b) Credit for Qualifying Nuclear Power Manufacturing.--Subpart E 
of part IV of subchapter A of chapter 1 of the Internal Revenue Code is 
amended by inserting after section 48B the following new section:

``SEC. 48C. QUALIFYING NUCLEAR POWER MANUFACTURING CREDIT.

    ``(a) In General.--For purposes of section 46, the qualifying 
nuclear power manufacturing credit for any taxable year is an amount 
equal to 20 percent of the qualified investment for such taxable year.
    ``(b) Qualified Investment.--
            ``(1) In general.--For purposes of subsection (a), the 
        qualified investment for any taxable year is the basis of 
        eligible property placed in service by the taxpayer during such 
        taxable year--
                    ``(A) which is either part of a qualifying nuclear 
                power manufacturing project or is qualifying nuclear 
                power manufacturing equipment,
                    ``(B)(i) the construction, reconstruction, or 
                erection of which is completed by the taxpayer, or
                    ``(ii) which is acquired by the taxpayer if the 
                original use of such property commences with the 
                taxpayer,
                    ``(C) with respect to which depreciation (or 
                amortization in lieu of depreciation) is allowable, and
                    ``(D) which is placed in service on or before 
                December 31, 2015.
            ``(2) Special rule for certain subsidized property.--Rules 
        similar to section 48(a)(4) shall apply for purposes of this 
        section.
            ``(3) Certain qualified progress expenditures rules made 
        applicable.--Rules similar to the rules of subsections (c)(4) 
        and (d) of section 46 (as in effect on the day before the 
        enactment of the Revenue Reconciliation Act of 1990) shall 
        apply for purposes of this section.
    ``(c) Definitions.--For purposes of this section--
            ``(1) Qualifying nuclear power manufacturing project.--The 
        term `qualifying nuclear power manufacturing project' means any 
        project which is designed primarily to enable the taxpayer to 
        produce or test equipment necessary for the construction or 
        operation of a nuclear power plant.
            ``(2) Qualifying nuclear power manufacturing equipment.--
        The term `qualifying nuclear power manufacturing equipment' 
        means machine tools and other similar equipment, including 
        computers and other peripheral equipment, acquired or 
        constructed primarily to enable the taxpayer to produce or test 
        equipment necessary for the construction or operation of a 
        nuclear power plant.
            ``(3) Project.--The term `project' includes any building 
        constructed to house qualifying nuclear power manufacturing 
        equipment.''.
    (c) Conforming Amendments.--
            (1) Additional investment credit.--Section 46 of such Code 
        is amended--
                    (A) by striking ``and'' at the end of paragraph 
                (3);
                    (B) by striking the period at the end of paragraph 
                (4) and inserting ``, and''; and
                    (C) by inserting after paragraph (4) the following 
                new paragraph:
            ``(5) the qualifying nuclear power manufacturing credit.''.
            (2) Application of section 49.--Subparagraph (C) of section 
        49(a)(1) of such Code is amended by--
                    (A) by striking ``and'' at the end of clause (iii);
                    (B) by striking the period at the end of clause 
                (iv) and inserting ``, and''; and
                    (C) by inserting after clause (iv) the following 
                new clause:
                            ``(v) the basis of any property which is 
                        part of a qualifying nuclear power equipment 
                        manufacturing project under section 48C.''.
            (3) Table of sections.--The table of sections preceding 
        section 46 of such Code is amended by inserting after the item 
        for section 48B the following new line:

``Sec. 48C. Qualifying nuclear power manufacturing credit.''.
    (d) Effective Date.--The amendments made by subsections (b) and (c) 
shall apply to property (1) the construction, reconstruction, or 
erection of which of began after the effective date of this Act, or (2) 
which was acquired by the taxpayer on or after the effective date of 
this Act and not pursuant to a binding contract which was in effect on 
the day prior to the effective date of this Act.

SEC. 205. NUCLEAR ENERGY WORKFORCE.

    Section 1101 of the Energy Policy Act of 2005 (42 U.S.C. 16411) is 
amended--
            (1) by redesignating subsection (d) as subsection (e); and
            (2) by inserting after subsection (c) the following:
    ``(d) Workforce Training.--
            ``(1) In general.--The Secretary of Labor, in cooperation 
        with the Secretary of Energy, shall promulgate regulations to 
        implement a program to provide workforce training to meet the 
        high demand for workers skilled in the nuclear utility and 
        nuclear energy products and services industries.
            ``(2) Consultation.--In carrying out this subsection, the 
        Secretary of Labor shall consult with representatives of the 
        nuclear utility and nuclear energy products and services 
        industries, and organized labor, concerning skills that are 
        needed in those industries.
            ``(3) Authorization of appropriations.--There are 
        authorized to be appropriated to the Secretary of Labor, 
        working in coordination with the Secretaries of Education and 
        Energy $20,000,000 for each of fiscal years 2008 through 2012 
        for use in implementing a program to provide workforce training 
        to meet the high demand for workers skilled in the nuclear 
        utility and nuclear energy products and services industries.''.

SEC. 206. INVESTMENT TAX CREDIT FOR INVESTMENTS IN NUCLEAR POWER 
              FACILITIES.

    (a) New Credit for Nuclear Power Facilities.--Section 46 of the 
Internal Revenue Code of 1986, as amended by this Act, is amended by--
            (1) striking ``and'' at the end of paragraph (4);
            (2) striking the period at the end of paragraph (5) and 
        inserting ``, and''; and
            (3) inserting after paragraph (5) the following new 
        paragraph:
            ``(6) the nuclear power facility construction credit.''.
    (b) Nuclear Power Facility Construction Credit.--Subpart E of part 
IV of subchapter A of chapter 1 of such Code, as amended by this Act, 
is amended by inserting after section 48C the following new section:

``SEC. 48D. NUCLEAR POWER FACILITY CONSTRUCTION CREDIT.

    ``(a) In General.--For purposes of section 46, the nuclear power 
facility construction credit for any taxable year is 10 percent of the 
qualified nuclear power facility expenditures with respect to a 
qualified nuclear power facility.
    ``(b) When Expenditures Taken Into Account.--
            ``(1) In general.--Qualified nuclear power facility 
        expenditures shall be taken into account for the taxable year 
        in which the qualified nuclear power facility is placed in 
        service.
            ``(2) Coordination with subsection (c).--The amount which 
        would (but for this paragraph) be taken into account under 
        paragraph (1) with respect to any qualified nuclear power 
        facility shall be reduced (but not below zero) by any amount of 
        qualified nuclear power facility expenditures taken into 
        account under subsection (c) by the taxpayer or a predecessor 
        of the taxpayer (or, in the case of a sale and leaseback 
        described in section 50(a)(2)(C), by the lessee), to the extent 
        any amount so taken into account has not been required to be 
        recaptured under section 50(a).
    ``(c) Progress Expenditures.--
            ``(1) In general.--A taxpayer may elect to take into 
        account qualified nuclear power facility expenditures:
                    ``(A) Self-constructed property.--In the case of a 
                qualified nuclear power facility which is a self-
                constructed facility, in the taxable year for which 
                such expenditures are properly chargeable to capital 
                account with respect to such facility, and
                    ``(B) Acquired facility.--In the case of a 
                qualified nuclear facility which is not self-
                constructed property, in the taxable year in which such 
                expenditures are paid.
            ``(2) Special rules for applying paragraph (1).--For 
        purposes of paragraph (1):
                    ``(A) Component parts, etc.--Property which is not 
                self-constructed property and which is to be a 
                component part of, or is otherwise to be included in, 
                any facility to which this subsection applies shall be 
                taken into account in accordance with paragraph (1)(B).
                    ``(B) Certain borrowing disregarded.--Any amount 
                borrowed directly or indirectly by the taxpayer on a 
                nonrecourse basis from the person constructing the 
                facility for the taxpayer shall not be treated as an 
                amount expended for such facility.
                    ``(C) Limitation for facilities or components which 
                are not self-constructed.--
                            ``(i) In general.--In the case of a 
                        facility or a component of a facility which is 
                        not self-constructed, the amount taken into 
                        account under paragraph (1)(B) for any taxable 
                        year shall not exceed the amount which 
                        represents the portion of the overall cost to 
                        the taxpayer of the facility or component of a 
                        facility which is properly attributable to the 
                        portion of the facility or component which is 
                        completed during such taxable year.
                            ``(ii) Carry-over of certain amounts.--In 
                        the case of a facility or component of a 
                        facility which is not self-constructed, if for 
                        the taxable year--
                                    ``(I) the amount which (but for 
                                clause (i)) would have been taken into 
                                account under paragraph (1)(B) exceeds 
                                the limitation of clause (i), then the 
                                amount of such excess shall be taken 
                                into account under paragraph (1)(B) for 
                                the succeeding taxable year, or
                                    ``(II) the limitation of clause (i) 
                                exceeds the amount taken into account 
                                under paragraph (1)(B), then the amount 
                                of such excess shall increase the 
                                limitation of clause (i) for the 
                                succeeding taxable year.
                    ``(D) Determination of percentage of completion.--
                The determination under subparagraph (C)(i) of the 
                portion of the overall cost to the taxpayer of the 
                construction which is properly attributable to 
                construction completed during any taxable year shall be 
                made on the basis of engineering or architectural 
                estimates or on the basis of cost accounting records. 
                Unless the taxpayer establishes otherwise by clear and 
                convincing evidence, the construction shall be deemed 
                to be completed not more rapidly than ratably over the 
                normal construction period.
                    ``(E) No progress expenditures for certain prior 
                periods.--No qualified nuclear facility expenditures 
                shall be taken into account under this subsection for 
                any period before the first day of the first taxable 
                year to which an election under this subsection 
                applies.
                    ``(F) No progress expenditures for property for 
                year it is placed in service, etc.--In the case of any 
                qualified nuclear facility, no qualified nuclear 
                facility expenditures shall be taken into account under 
                this subsection for the earlier of--
                            ``(i) the taxable year in which the 
                        facility is placed in service, or
                            ``(ii) the first taxable year for which 
                        recapture is required under section 50(a)(2) 
                        with respect to such facility, or for any 
                        taxable year thereafter.
            ``(3) Self-constructed.--For purposes of this subsection--
                    ``(A) The term `self-constructed facility' means 
                any facility if it is reasonable to believe that more 
                than half of the qualified nuclear facility 
                expenditures for such facility will be made directly by 
                the taxpayer.
                    ``(B) A component of a facility shall be treated as 
                not self-constructed if the cost of the component is at 
                least 5 percent of the expected cost of the facility 
                and the component is acquired by the taxpayer.
            ``(4) Election.--An election shall be made under this 
        section for a qualified nuclear power facility by claiming the 
        nuclear power facility construction credit for expenditures 
        described in paragraph (1) on a tax return filed by the due 
        date for such return (taking into account extensions). Such an 
        election shall apply to the taxable year for which made and all 
        subsequent taxable years. Such an election, once made, may be 
        revoked only with the consent of the Secretary.
    ``(d) Definitions and Special Rules.--For purposes of this section:
            ``(1) Qualified nuclear power facility.--The term 
        `qualified nuclear power facility' means an advanced nuclear 
        power facility, as defined in section 45J, the construction of 
        which was approved by the Nuclear Regulatory Commission on or 
        before December 31, 2013.
            ``(2) Qualified nuclear power facility expenditures.--
                    ``(A) In general.--The term `qualified nuclear 
                power facility expenditures' means any amount properly 
                chargeable to capital account--
                            ``(i) with respect to a qualified nuclear 
                        power facility;
                            ``(ii) for which depreciation is allowable 
                        under section 168; and
                            ``(iii) which are incurred before the 
                        qualified nuclear power facility is placed in 
                        service or in connection with the placement of 
                        such facility in service.
                    ``(B) Pre-effective date expenditures.--Qualified 
                nuclear power facility expenditures do not include any 
                expenditures incurred by the taxpayer before the 
                effective date of the $150 Barrel Energy Extortion Act 
                of 2008, unless such expenditures constitute less than 
                20 percent of the total qualified nuclear power 
                facility expenditures (determined without regard to 
                this subparagraph) for the qualified nuclear power 
                facility.
            ``(3) Delays and suspension of construction.--
                    ``(A) In general.--For purposes of applying this 
                section and section 50, a nuclear power facility that 
                is under construction shall cease to be treated as a 
                facility that will be a qualified nuclear power 
                facility as of the earlier of--
                            ``(i) the date on which the taxpayer 
                        decides to terminate construction of the 
                        facility, or
                            ``(ii) the last day of any 24 month period 
                        in which the taxpayer has failed to incur 
                        qualified nuclear power facility expenditures 
                        totaling at least 20 percent of the expected 
                        total cost of the nuclear power facility.
                    ``(B) Authority to waive.--The Secretary may waive 
                the application of clause (ii) of subparagraph (A) if 
                the Secretary determines that the taxpayer intended to 
                continue the construction of the qualified nuclear 
                power facility and the expenditures were not incurred 
                for reasons outside the control of the taxpayer.
                    ``(C) Resumption of construction.--If a nuclear 
                power facility that is under construction ceases to be 
                a qualified nuclear power facility by reason of 
                paragraph (2) and work is subsequently resumed on the 
                construction of such facility--
                            ``(i) the date work is subsequently resumed 
                        shall be treated as the date that construction 
                        began for purposes of paragraph (1), and
                            ``(ii) if the facility is a qualified 
                        nuclear power facility, the qualified nuclear 
                        power facility expenditures shall be determined 
                        without regard to any delay or temporary 
                        termination of construction of the facility.''.
    (c) Provisions Relating to Credit Recapture.--
            (1) Progress expenditure recapture rules.--
                    (A) Basic rules.--Subparagraph (A) of section 
                50(a)(2) of such Code is amended to read as follows:
                    ``(A) In general.--If during any taxable year any 
                building to which section 47(d) applied or any facility 
                to which section 48D(c) applied ceases (by reason of 
                sale or other disposition, cancellation or abandonment 
                of contract, or otherwise) to be, with respect to the 
                taxpayer, property which, when placed in service, will 
                be a qualified rehabilitated building or a qualified 
                nuclear power facility, as the case may be, then the 
                tax under this chapter for such taxable year shall be 
                increased by an amount equal to the aggregate decrease 
                in the credits allowed under section 38 for all prior 
                taxable years which would have resulted solely from 
                reducing to zero the credit determined under this 
                subpart with respect to such building or facility.''.
                    (B) Amendment to excess credit recapture rule.--
                Subparagraph (B) of section 50(a)(2) of such Code is 
                amended by--
                            (i) inserting ``or paragraph (2) of section 
                        48D(b)'' after ``paragraph (2) of section 
                        47(b)'',
                            (ii) inserting ``or section 48D(b)(1)'' 
                        after ``section 47(b)(1)''; and
                            (iii) inserting ``or facility'' after 
                        ``building''.
                    (C) Amendment of sale and leaseback rule.--
                Subparagraph (C) of section 50(a)(2) of such Code is 
                amended by--
                            (i) inserting ``or section 48D(c)'' after 
                        ``section 47(d)''; and
                            (ii) inserting ``or qualified nuclear power 
                        facility expenditures'' after ``qualified 
                        rehabilitation expenditures''.
                    (D) Coordination.--Subparagraph (D) of section 
                50(a)(2) of such Code is amended by inserting ``or 
                section 48D(c)'' after ``section 47(d)''.
    (d) No Basis Adjustment.--Section 50(c) of such Code is amended by 
inserting at the end thereof the following new paragraph:
            ``(6) Nuclear power facility construction credit.--
        Paragraphs (1) and (2) shall not apply to the nuclear power 
        facility construction credit.''.
    (e) Clerical Amendment.--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 for section 48C the following new item:

``Sec. 48D. Nuclear power facility construction credit.''.
    (f) Effective Date.--The amendments made by this section shall 
apply to expenditures incurred and property placed in service in 
taxable years beginning after the effective date of this Act.

SEC. 207. NATIONAL NUCLEAR ENERGY COUNCIL.

    (a) In General.--
            (1) The Secretary of Energy shall establish a National 
        Nuclear Energy Council (hereinafter the ``Council'').
            (2) The Council shall be subject to the requirements of the 
        Federal Advisory Committee Act (5 U.S.C. Appendix 2).
    (b) Purpose.--The Council shall--
            (1) serve in an advisory capacity to the Secretary of 
        Energy regarding nuclear energy on matters submitted to the 
        Council by the Secretary of Energy; and
            (2) advise, inform, and make recommendations to the 
        Secretary of Energy, and represent the views of the nuclear 
        energy industry with respect to any matter relating to nuclear 
        energy.
    (c) Membership and Organization.--
            (1) The members of the Council shall be appointed by the 
        Secretary of Energy.
            (2) The Council may establish such study and administrative 
        committees as it may deem appropriate. Study committees shall 
        only assist the Council in preparing its advice, information, 
        or recommendations to the Secretary of Energy. Administrative 
        committees shall be formed solely for the purpose of assisting 
        the Council or its Chairman in the management of the internal 
        affairs of the Council.
            (3) The officers of the Council shall consist of a 
        Chairman, a Vice Chairman, and such other officers as may be 
        approved by the Council. The Chairman and Vice Chairman must be 
        members of the Council and shall receive no compensation for 
        service as officers of the Council.
            (4) The Secretary of Energy shall be Cochairman of the 
        Council. If the Secretary of Energy designates a full-time, 
        salaried official of the Department of Energy as his alternate, 
        such alternate may exercise any duties of the Secretary of 
        Energy and may perform any function on the Council otherwise 
        reserved for the Secretary of Energy.
            (5) The Chairman and the Vice Chairman shall be elected by 
        the Council at its organizational meeting to serve until their 
        successors are elected at the next organizational meeting of 
        the Council.
    (d) Meetings.--
            (1) Regular meetings of the Council shall be held at least 
        twice each year at times determined by the Chairman and 
        approved by the Government Cochairman.
            (2) No meeting of the Council shall be held unless the 
        Government Cochairman approves the agenda thereof, approves the 
        calling thereof, and is present thereat.
            (3) The time and place of all Council meetings shall be 
        given general publicity and such meetings shall be open to the 
        public.
    (e) Studies by the Council.--
            (1) The Council may establish study committees to prepare 
        reports for the consideration of the Council pursuant to 
        requests from the Secretary of Energy for advice, information, 
        and recommendations.
            (2) The Secretary of Energy or a full-time employee of the 
        Department of Energy designated by the Secretary shall be the 
        Cochairman of each study committee.
            (3) The members of study committees shall be selected from 
        the Council membership on the basis of their training, 
        experience, and general qualifications to deal with the matters 
        assigned.

SEC. 208. TEMPORARY SPENT NUCLEAR FUEL STORAGE AGREEMENTS.

    (a) Authorization and Location.--The Secretary of Energy (in this 
section referred to as the ``Secretary'') is authorized to initiate 
spent nuclear fuel storage agreements as provided in this section.
            (1) No later than 180 days from the effective date of this 
        Act, representatives of a community may submit written notice 
        to the Secretary that the community is willing to host a 
        temporary spent nuclear fuel storage facility within its 
        jurisdiction.
            (2) Within 90 days of the receipt of the notification under 
        paragraph (1), the Secretary shall determine whether the 
        identified site is suitable for a temporary storage facility. 
        In determining the site's suitability, the Secretary shall 
        evaluate technical feasibility and consider favorably local 
        support for collocating a temporary spent nuclear fuel storage 
        facility with facilities intended to develop and implement 
        advanced nuclear fuel cycle technologies.
    (b) Content of Agreements.--(1) If the Secretary determines one or 
more sites to be suitable in accordance with subsection (a)(2), 
negotiation of a temporary spent nuclear fuel storage facility 
agreement shall proceed.
    (2) Any temporary spent nuclear fuel storage agreement shall 
contain such terms and conditions, including financial, institutional, 
and such other arrangements as the Secretary and community determine to 
be reasonable and appropriate.
    (3) Any temporary spent nuclear fuel storage agreement may be 
amended only with the mutual consent of the parties to the agreement.
    (c) Environmental Impact Statement.--Execution of a temporary spent 
nuclear fuel storage agreement shall not require preparation of an 
environmental impact statement under section 102(2)(C) of the National 
Environmental Policy Act of 1969 (42 U.S.C. 4332(2)(C)) or require any 
environmental review under subparagraph (E) or (F) of section 102(2) of 
such Act (42 U.S.C. 4332(2)(E), (F)).
    (d) Implementation of Temporary Spent Nuclear Fuel Storage 
Agreements.--
            (1) In general.--Any temporary spent nuclear fuel storage 
        agreement or agreements entered into under this section shall 
        enter into force with respect to the United States if (and only 
        if)--
                    (A) the Secretary, at least 60 days before the day 
                on which he or she enters into the temporary spent 
                nuclear fuel storage agreement or agreements notifies 
                the House of Representatives and the Senate of his 
                intention to enter into the agreement or agreements, 
                and promptly thereafter publishes notice of such 
                intention in the Federal Register;
                    (B) the Governor of the State or States in which 
                the facility is proposed to be located submits written 
                notice to the Secretary that the Governor supports the 
                temporary spent nuclear fuel storage agreement; and
                    (C) after entering into the agreement, the 
                Secretary submits to the House of Representatives and 
                to the Senate a copy of the final text of the 
                agreement, together with--
                            (i) a draft of an implementing bill; and
                            (ii) a statement of any administrative 
                        action proposed to implement the agreement.
            (2) Application of expedited procedures to implementing 
        bills.--The provisions of subsection (e) apply to implementing 
        bills submitted with respect to temporary spent nuclear fuel 
        storage agreements entered into and submitted pursuant to this 
        section.
    (e) Expedited Procedures for Congressional Review of Temporary 
Spent Nuclear Fuel Storage Agreements.--
            (1) Rules of house of representative and senate.--The 
        provisions of this subsection are enacted by the Congress--
                    (A) as an exercise of the rulemaking power of the 
                House of Representatives and the Senate, respectively, 
                and as such they are deemed a part of the rules of each 
                House, respectively, but applicable only with respect 
                to the procedure to be followed in that House in the 
                case of implementing bills and approval resolutions; 
                and they supersede other rules only to the extent that 
                they are inconsistent therewith; and
                    (B) with full recognition of the constitutional 
                right of either House to change the rules (so far as 
                relating to the procedure of that House at any time, in 
                the same manner and to the same extent as in the case 
                of any other rule of that House.
            (2) Definitions.--For purposes of this subsection--
                    (A) The term ``community'' means any entity of 
                local government appropriate, in terms of legal 
                authority, for negotiating and entering into temporary 
                spent nuclear fuel storage agreements provided for in 
                this section.
                    (B) The term ``implementing bill'' means only a 
                bill of either House of Congress which is introduced as 
                provided in paragraph (3) with respect to one or more 
                temporary spent nuclear fuel storage agreements and 
                which contain--
                            (i) a provision approving such storage 
                        agreements;
                            (ii) a provision approving the statement of 
                        administrative action (if any) proposed to 
                        implement such storage agreements;
                            (iii) if changes in existing laws or new 
                        statutory authority is required to implement 
                        such storage agreement or agreements, 
                        provisions necessary or appropriate to 
                        implement such agreement or agreements either 
                        repealing or amending existing laws or 
                        providing new statutory authority; and
                            (iv) a provision containing revenue 
                        measures (if any), by reason of which the bill 
                        must originate in the House of Representatives 
                        as provided for in paragraph (3).
                    (C) The term ``approval resolution'' means only a 
                joint resolution of the two Houses of the Congress, the 
                matter after the resolving clause of which is as 
                follows: ``That the Congress approves the temporary 
                spent nuclear fuel storage agreement between the 
                Secretary of Energy and ___ on ___,'' the first blank 
                space being filled with the name of the governor 
                involved and the second blank space being filled in 
                with the appropriate date.
            (3) Introduction and referral.--On the day on which the 
        temporary spent nuclear fuel storage agreement is submitted to 
        the House of Representatives and the Senate under this section, 
        the implementing bill submitted by the Secretary with respect 
        to such temporary spent nuclear fuel storage agreement shall be 
        introduced (by request) in the House by the majority leader of 
        the House, for himself and the minority leader of the House, or 
        by Members of the House designated by the majority leader and 
        minority leader of the House; and shall be introduced (by 
        request) in the Senate by the majority leader of the Senate, 
        for himself and the minority leader of the Senate, or by 
        Members of the Senate designated by the majority leader and 
        minority leader of the Senate. If either House is not in 
        session on the day on which such temporary spent nuclear fuel 
        storage agreement is submitted, the implementing bill shall be 
        introduced in that House, as provided in the preceding 
        sentence, on the first day thereafter on which that House is in 
        session. Such bills shall be referred by the Presiding Officers 
        of the respective Houses to the appropriate committee, or, in 
        the case of a bill containing provisions within the 
        jurisdiction of two or more committees, jointly to such 
        committees for consideration of those provisions within their 
        respective jurisdictions.
            (4) Amendments prohibited.--No amendment to an implementing 
        bill or approval resolution shall be in order in either the 
        House of Representatives or the Senate; and no motion to 
        suspend the application of this paragraph shall be in order in 
        either House, nor shall it be in order in either House for the 
        Presiding Officer to entertain a request to suspend the 
        application of this paragraph by unanimous consent.
            (5) Period for committee and floor consideration.--
                    (A) Except as provided in subparagraph (B), if the 
                committee or committees of either House to which an 
                implementing bill or approval resolution has been 
                referred have not reported it at the close of the 45th 
                day after its introduction, such committee or 
                committees shall be automatically discharged from 
                further consideration of the bill or resolution and it 
                shall be placed on the appropriate calendar. A vote on 
                final passage of the bill or resolution shall be taken 
                in each House on or before the close of the 15th day 
                after the bill or resolution is reported by the 
                committee or committees of that House to which it was 
                referred, or after such committee or committees have 
                been discharged from further consideration of the bill 
                or resolution. If prior to the passage by one House of 
                an implementing bill or approval resolution of that 
                House, that House receives the same implementing bill 
                or approval resolution from the other House, then--
                            (i) the procedure in that House shall be 
                        the same as if no implementation bill or 
                        approval resolution had been received from the 
                        other House, but
                            (ii) the vote on final passage shall be on 
                        the implementing bill or approval resolution of 
                        the other House.
                    (B) For purposes of computing a number of days in 
                either House as provided for in subparagraph (A), there 
                shall be excluded any day on which that House is not in 
                session.
                    (C) If the implementing bill contains one or more 
                revenue measures--
                            (i) the provisions of subparagraph (A) 
                        shall not apply; and
                            (ii) the Senate shall not take final action 
                        on the bill until it is received from the 
                        House.
            (6) Floor consideration in the house.--
                    (A) A motion in the House of Representatives to 
                proceed to the consideration of an implementing bill or 
                approval resolution shall be highly privileged and not 
                debatable. An amendment to the motion shall not be in 
                order, nor shall it be in order to move to reconsider 
                the vote by which the motion is agreed to or disagreed 
                to.
                    (B) Debate in the House of Representatives on an 
                implementing bill or approval resolution shall be 
                limited to not more than 10 hours, which shall be 
                divided equally between those favoring and those 
                opposing the bill or resolution. A motion further to 
                limit debate shall not be debatable. It shall not be in 
                order to move to recommit an implementing bill or 
                approval resolution or to move to reconsider the vote 
                by which an implementing bill or approval resolution is 
                agreed to or disagreed to.
                    (C) Motions to postpone, made in the House of 
                Representatives with respect to the consideration of an 
                implementing bill or approval resolution, and motions 
                to proceed to the consideration of other business, 
                shall be decided without debate. If a motion to proceed 
                to consideration is agreed to, such resolution shall 
                remain unfinished business of House until disposed of.
                    (D) All appeals from the decisions of the Chair 
                relating to the application of the Rules of the House 
                of Representatives to the procedure relating to an 
                implementing bill or approval resolution shall be 
                decided without debate.
                    (E) Except to the extent specifically provided in 
                the preceding provisions of this paragraph, 
                consideration of an implementing bill or approval 
                resolution shall be governed by the Rules of the House 
                of Representatives applicable to other bills and 
                resolutions in similar circumstances.
            (7) Floor consideration in the senate.--
                    (A) A motion in the Senate to proceed to the 
                consideration of an implementing bill or approval 
                resolution shall be privileged and not debatable. An 
                amendment to the motion shall not be in order, nor 
                shall it be in order to move to reconsider the vote by 
                which the motion is agreed to or disagreed to.
                    (B) Debate in the Senate on an implementing bill or 
                approval resolution, and all debatable motions and 
                appeals in connection therewith, shall be limited to 
                not more than 10 hours. The time shall be equally 
                divided between, and controlled by, the majority leader 
                and the minority leader or their designees.
                    (C) Debate in the Senate on any debatable motion or 
                appeal in connection with an implementing bill or 
                approval resolution shall be limited to not more than 1 
                hour, to be equally divided between, and controlled by, 
                the mover and the manager of the bill or resolution, 
                except that in the event the manager of the bill or 
                resolution is in favor of any such motion or appeal, 
                the time in opposition thereto shall be controlled by 
                the minority leader or his designee. Such leaders, or 
                either of them, may, from time under their control on 
                the passage of an implementing bill or approval 
                resolution, allot additional time to any Senator during 
                the consideration of any debatable motion or appeal.
                    (D) A motion in the Senate to further limit debate 
                is not debatable. A motion to recommit an 
                implementation bill or approval resolution is not in 
                order.

SEC. 209. CONFIDENCE IN AVAILABILITY OF WASTE DISPOSAL.

    (a) Congressional Determination.--The Congress finds that--
            (1) there is reasonable assurance that high-level 
        radioactive waste and spent nuclear fuel generated in reactors 
        licensed by the Nuclear Regulatory Commission in the past, 
        currently, or in the future will be managed in a safe manner 
        without significant environmental impact until capacity for 
        ultimate disposal is available; and
            (2) the Federal Government is responsible and has an 
        established a policy for the ultimate safe and environmentally 
        sound disposal of such high-level radioactive waste and spent 
        nuclear fuel.
    (b) Regulatory Consideration.--Notwithstanding any other provision 
of law, for the period following the licensed operation of a civilian 
nuclear power reactor or any facility for the treatment or storage of 
spent nuclear fuel or high-level radioactive waste, no consideration of 
the public health and safety, common defense and security, or 
environmental impacts of the storage of high-level radioactive waste 
and spent nuclear fuel generated in reactors licensed by the Nuclear 
Regulatory Commission in the past, currently, or in the future, is 
required by the Department of Energy or the Nuclear Regulatory 
Commission in connection with the development, construction, and 
operation of, or any permit, license, license amendment, or siting 
approval for, a civilian nuclear power reactor or any facility for the 
treatment or storage of spent nuclear fuel or high-level radioactive 
waste. Nothing in this section shall affect the Department of Energy's 
and Nuclear Regulatory Commission's obligation to consider the public 
health and safety, common defense and security, and environmental 
impacts of storage during the period of licensed operation of a 
civilian nuclear power reactor or facility for the treatment or storage 
of spent nuclear fuel or high-level radioactive waste.

                          TITLE III--DRILLING

                       Subtitle A--Tax Provisions

SEC. 301. CREDIT FOR PRODUCING FUEL FROM NONCONVENTIONAL SOURCES TO 
              APPLY TO GAS PRODUCED ONSHORE FROM FORMATIONS MORE THAN 
              15,000 FEET DEEP.

    (a) In General.--Subparagraph (B) of section 45K(c)(1) of the 
Internal Revenue Code of 1986 is amended by striking ``or'' at the end 
of clause (i), by striking ``and'' at the end of clause (ii) and 
inserting ``or'', and by inserting after clause (ii) the following new 
clause:
                            ``(iii) an onshore well from a formation 
                        more than 15,000 feet deep, and''.
    (b) Eligible Deep Gas Wells.--Section 45K of such Code is amended 
by adding at the end the following new subsection:
    ``(h) Eligible Deep Gas Wells.--In the case of a well producing 
qualified fuel described in subsection (c)(1)(B)(iii)--
            ``(1) for purposes of subsection (e)(1)(A), such well shall 
        be treated as drilled before January 1, 1993, if such well is 
        drilled after the date of the enactment of the $150 Barrel 
        Energy Extortion Act of 2008, and
            ``(2) subsection (e)(2) shall not apply.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after the effective date of this Act.

SEC. 302. TAX CREDIT FOR CARBON DIOXIDE CAPTURED FROM INDUSTRIAL 
              SOURCES AND USED IN ENHANCED OIL AND NATURAL GAS 
              RECOVERY.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to business credits) is 
amended by adding at the end the following new section:

``SEC. 45Q. CREDIT FOR CARBON DIOXIDE CAPTURED FROM INDUSTRIAL SOURCES 
              AND USED AS A TERTIARY INJECTANT IN ENHANCED OIL AND 
              NATURAL GAS RECOVERY.

    ``(a) General Rule.--For purposes of section 38, the captured 
carbon dioxide tertiary injectant credit for any taxable year is an 
amount equal to the product of--
            ``(1) the credit amount, and
            ``(2) the qualified carbon dioxide captured from industrial 
        sources and used as a tertiary injectant in qualified enhanced 
        oil and natural gas recovery which is attributable to the 
        taxpayer.
    ``(b) Credit Amount.--For purposes of this section--
            ``(1) In general.--The credit amount is $0.75 per 1,000 
        standard cubic feet.
            ``(2) Inflation adjustment.--In the case of any taxable 
        year beginning in a calendar year after 2008, there shall be 
        substituted for the $0.75 amount under paragraph (1) an amount 
        equal to the product of--
                    ``(A) $0.75, multiplied by
                    ``(B) the inflation adjustment factor for such 
                calendar year determined under section 43(b)(3)(B) for 
                such calendar year, determined by substituting `2006' 
                for `1990'.
    ``(c) Qualified Carbon Dioxide.--For purposes of this section--
            ``(1) In general.--The term `qualified carbon dioxide' 
        means carbon dioxide captured from an anthropogenic source 
        that--
                    ``(A) would otherwise be released into the 
                atmosphere as industrial emission of greenhouse gas,
                    ``(B) is measurable at the source of capture,
                    ``(C) is compressed, treated, and transported via 
                pipeline,
                    ``(D) is sold as a tertiary injectant in qualified 
                enhanced oil and natural gas recovery, and
                    ``(E) is permanently sequestered in geological 
                formations as a result of the enhanced oil and natural 
                gas recovery process.
            ``(2) Anthropogenic source.--An anthropogenic source of 
        carbon dioxide is an industrial source, including any of the 
        following types of plants, and facilities related to such 
        plant--
                    ``(A) a coal and natural gas fired electrical 
                generating power station,
                    ``(B) a natural gas processing and treating plant,
                    ``(C) an ethanol plant,
                    ``(D) a fertilizer plant, and
                    ``(E) a chemical plant.
            ``(3) Definitions.--
                    ``(A) Qualified enhanced oil and natural gas 
                recovery.--The term `qualified enhanced oil and natural 
                gas recovery' has the meaning given such term by 
                section 43(c)(2).
                    ``(B) Tertiary injectant.--The term `tertiary 
                injectant' has the same meaning as when used within 
                section 193(b)(1).
    ``(d) Other Definitions and Special Rules.--For purposes of this 
section--
            ``(1) Only carbon dioxide captured within the united states 
        taken into account.--Sales shall be taken into account under 
        this section only with respect to qualified carbon dioxide of 
        which is within--
                    ``(A) the United States (within the meaning of 
                section 638(1)), or
                    ``(B) a possession of the United States (within the 
                meaning of section 638(2)).
            ``(2) Recycled carbon dioxide.--The term `qualified carbon 
        dioxide' includes the initial deposit of captured carbon 
        dioxide used as a tertiary injectant. Such term does not 
        include carbon dioxide that is re-captured, recycled, and re-
        injected as part of the enhanced oil and natural gas recovery 
        process.
            ``(3) Credit attributable to taxpayer.--Any credit under 
        this section shall be attributable to the person that captures, 
        treats, compresses, transports and sells the carbon dioxide for 
        use as a tertiary injectant in enhanced oil and natural gas 
        recovery, except to the extent provided in regulations 
        prescribed by the Secretary.''.
    (b) Conforming Amendment.--Section 38(b) (relating to general 
business credit) is amended by striking ``plus'' at the end of 
paragraph (32), by striking the period at the end of paragraph (33) and 
inserting ``, plus'', and by adding at the end of following new 
paragraph:
            ``(34) the captured carbon dioxide tertiary injectant 
        credit determined under section 45P(a).''.
    (c) Clerical Amendment.--The table of sections for subpart B of 
part IV of subchapter A of chapter 1 (relating to other credits) is 
amended by adding at the end the following new section:

``Sec. 45Q. Credit for carbon dioxide captured from industrial sources 
                            and used as a tertiary injectant in 
                            enhanced oil and natural gas recovery.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the effective date of this Act.

   Subtitle B--Termination of Congressional Moratoria on Oil and Gas 
               Development on the Outer Continental Shelf

SEC. 311. TERMINATION OF LAWS PROHIBITING EXPENDITURES FOR OIL AND 
              NATURAL GAS LEASING AND PRELEASING ACTIVITIES REGARDING 
              AREAS OF THE OUTER CONTINENTAL SHELF.

    All provisions of existing Federal law prohibiting the spending of 
appropriated funds to conduct oil and natural gas leasing and 
preleasing activities for any area of the Outer Continental Shelf shall 
have no force or effect.

   Subtitle C--Oil and Gas Development on the Coastal Plain of Alaska

SEC. 321. SHORT TITLE.

    This subtitle may be cited as the ``American-Made Energy and Good 
Jobs Act''.

SEC. 322. DEFINITIONS.

    In this subtitle:
            (1) Coastal plain.--The term ``Coastal Plain'' means that 
        area described in appendix I to part 37 of title 50, Code of 
        Federal Regulations.
            (2) Secretary.--The term ``Secretary'', except as otherwise 
        provided, means the Secretary of the Interior or the 
        Secretary's designee.

SEC. 323. LEASING PROGRAM FOR LANDS WITHIN THE COASTAL PLAIN.

    (a) In General.--The Secretary shall take such actions as are 
necessary--
            (1) to establish and implement, in accordance with this 
        subtitle and acting through the Director of the Bureau of Land 
        Management in consultation with the Director of the United 
        States Fish and Wildlife Service, a competitive oil and gas 
        leasing program that will result in an environmentally sound 
        program for the exploration, development, and production of the 
        oil and gas resources of the Coastal Plain; and
            (2) to administer the provisions of this subtitle through 
        regulations, lease terms, conditions, restrictions, 
        prohibitions, stipulations, and other provisions that ensure 
        the oil and gas exploration, development, and production 
        activities on the Coastal Plain will result in no significant 
        adverse effect on fish and wildlife, their habitat, subsistence 
        resources, and the environment, including, in furtherance of 
        this goal, by requiring the application of the best 
        commercially available technology for oil and gas exploration, 
        development, and production to all exploration, development, 
        and production operations under this subtitle in a manner that 
        ensures the receipt of fair market value by the public for the 
        mineral resources to be leased.
    (b) Repeal.--
            (1) Repeal.--Section 1003 of the Alaska National Interest 
        Lands Conservation Act of 1980 (16 U.S.C. 3143) is repealed.
            (2) Conforming amendment.--The table of contents in section 
        1 of such Act is amended by striking the item relating to 
        section 1003.
    (c) Compliance With Requirements Under Certain Other Laws.--
            (1) Compatibility.--For purposes of the National Wildlife 
        Refuge System Administration Act of 1966 (16 U.S.C. 668dd et 
        seq.), the oil and gas leasing program and activities 
        authorized by this section in the Coastal Plain are deemed to 
        be compatible with the purposes for which the Arctic National 
        Wildlife Refuge was established, and no further findings or 
        decisions are required to implement this determination.
            (2) Adequacy of the department of the interior's 
        legislative environmental impact statement.--The ``Final 
        Legislative Environmental Impact Statement'' (April 1987) on 
        the Coastal Plain prepared pursuant to section 1002 of the 
        Alaska National Interest Lands Conservation Act of 1980 (16 
        U.S.C. 3142) and section 102(2)(C) of the National 
        Environmental Policy Act of 1969 (42 U.S.C. 4332(2)(C)) is 
        deemed to satisfy the requirements under the National 
        Environmental Policy Act of 1969 that apply with respect to 
        prelease activities, including actions authorized to be taken 
        by the Secretary to develop and promulgate the regulations for 
        the establishment of a leasing program authorized by this 
        subtitle before the conduct of the first lease sale.
            (3) Compliance with nepa for other actions.--Before 
        conducting the first lease sale under this subtitle, the 
        Secretary shall prepare an environmental impact statement under 
        the National Environmental Policy Act of 1969 with respect to 
        the actions authorized by this Act that are not referred to in 
        paragraph (2). Notwithstanding any other law, the Secretary is 
        not required to identify nonleasing alternative courses of 
        action or to analyze the environmental effects of such courses 
        of action. The Secretary shall only identify a preferred action 
        for such leasing and a single leasing alternative, and analyze 
        the environmental effects and potential mitigation measures for 
        those two alternatives. The identification of the preferred 
        action and related analysis for the first lease sale under this 
        subtitle shall be completed within 18 months after the 
        effective date of this Act. The Secretary shall only consider 
        public comments that specifically address the Secretary's 
        preferred action and that are filed within 20 days after 
        publication of an environmental analysis. Notwithstanding any 
        other law, compliance with this paragraph is deemed to satisfy 
        all requirements for the analysis and consideration of the 
        environmental effects of proposed leasing under this subtitle.
    (d) Relationship to State and Local Authority.--Nothing in this 
subtitle shall be considered to expand or limit State and local 
regulatory authority.
    (e) Special Areas.--
            (1) In general.--The Secretary, after consultation with the 
        State of Alaska, the city of Kaktovik, and the North Slope 
        Borough, may designate up to a total of 45,000 acres of the 
        Coastal Plain as a Special Area if the Secretary determines 
        that the Special Area is of such unique character and interest 
        so as to require special management and regulatory protection. 
        The Secretary shall designate as such a Special Area the 
        Sadlerochit Spring area, comprising approximately 4,000 acres.
            (2) Management.--Each such Special Area shall be managed so 
        as to protect and preserve the area's unique and diverse 
        character including its fish, wildlife, and subsistence 
        resource values.
            (3) Exclusion from leasing or surface occupancy.--The 
        Secretary may exclude any Special Area from leasing. If the 
        Secretary leases a Special Area, or any part thereof, for 
        purposes of oil and gas exploration, development, production, 
        and related activities, there shall be no surface occupancy of 
        the lands comprising the Special Area.
            (4) Directional drilling.--Notwithstanding the other 
        provisions of this subsection, the Secretary may lease all or a 
        portion of a Special Area under terms that permit the use of 
        horizontal drilling technology from sites on leases located 
        outside the Special Area.
    (f) Limitation on Closed Areas.--The Secretary's sole authority to 
close lands within the Coastal Plain to oil and gas leasing and to 
exploration, development, and production is that set forth in this 
subtitle.
    (g) Regulations.--
            (1) In general.--The Secretary shall prescribe such 
        regulations as may be necessary to carry out this subtitle, 
        including rules and regulations relating to protection of the 
        fish and wildlife, their habitat, subsistence resources, and 
        environment of the Coastal Plain, by no later than 15 months 
        after the effective date of this Act.
            (2) Revision of regulations.--The Secretary shall 
        periodically review and, if appropriate, revise the rules and 
        regulations issued under subsection (a) to reflect any 
        significant biological, environmental, or engineering data that 
        come to the Secretary's attention.

SEC. 324. LEASE SALES.

    (a) In General.--Lands may be leased pursuant to this subtitle to 
any person qualified to obtain a lease for deposits of oil and gas 
under the Mineral Leasing Act (30 U.S.C. 181 et seq.).
    (b) Procedures.--The Secretary shall, by regulation, establish 
procedures for--
            (1) receipt and consideration of sealed nominations for any 
        area in the Coastal Plain for inclusion in, or exclusion (as 
        provided in subsection (c)) from, a lease sale;
            (2) the holding of lease sales after such nomination 
        process; and
            (3) public notice of and comment on designation of areas to 
        be included in, or excluded from, a lease sale.
    (c) Lease Sale Bids.--Bidding for leases under this subtitle shall 
be by sealed competitive cash bonus bids.
    (d) Acreage Minimum in First Sale.--In the first lease sale under 
this subtitle, the Secretary shall offer for lease those tracts the 
Secretary considers to have the greatest potential for the discovery of 
hydrocarbons, taking into consideration nominations received pursuant 
to subsection (b)(1), but in no case less than 200,000 acres.
    (e) Timing of Lease Sales.--The Secretary shall--
            (1) conduct the first lease sale under this subtitle within 
        22 months after the effective date of this Act; and
            (2) conduct additional sales so long as sufficient interest 
        in development exists to warrant, in the Secretary's judgment, 
        the conduct of such sales.

SEC. 325. GRANT OF LEASES BY THE SECRETARY.

    (a) In General.--The Secretary may grant to the highest responsible 
qualified bidder in a lease sale conducted pursuant to section 324 any 
lands to be leased on the Coastal Plain upon payment by the lessee of 
such bonus as may be accepted by the Secretary.
    (b) Subsequent Transfers.--No lease issued under this subtitle may 
be sold, exchanged, assigned, sublet, or otherwise transferred except 
with the approval of the Secretary. Prior to any such approval the 
Secretary shall consult with, and give due consideration to the views 
of, the Attorney General.

SEC. 326. LEASE TERMS AND CONDITIONS.

    An oil or gas lease issued pursuant to this subtitle shall--
            (1) provide for the payment of a royalty of not less than 
        12\1/2\ percent in amount or value of the production removed or 
        sold from the lease, as determined by the Secretary under the 
        regulations applicable to other Federal oil and gas leases;
            (2) require that the lessee of lands within the Coastal 
        Plain shall be fully responsible and liable for the reclamation 
        of lands within the Coastal Plain and any other Federal lands 
        that are adversely affected in connection with exploration, 
        development, production, or transportation activities conducted 
        under the lease and within the Coastal Plain by the lessee or 
        by any of the subcontractors or agents of the lessee;
            (3) provide that the lessee may not delegate or convey, by 
        contract or otherwise, the reclamation responsibility and 
        liability to another person without the express written 
        approval of the Secretary;
            (4) provide that the standard of reclamation for lands 
        required to be reclaimed under this subtitle shall be, as 
        nearly as practicable, a condition capable of supporting the 
        uses which the lands were capable of supporting prior to any 
        exploration, development, or production activities, or upon 
        application by the lessee, to a higher or better use as 
        approved by the Secretary;
            (5) include requirements and restrictions to provide for 
        reasonable protection of fish and wildlife, their habitat, 
        subsistence resources, and the environment as determined by the 
        Secretary;
            (6) prohibit the export of oil produced under the lease; 
        and
            (7) contain such other provisions as the Secretary 
        determines necessary to ensure compliance with the provisions 
        of this subtitle and the regulations issued under this 
        subtitle.

SEC. 327. COASTAL PLAIN ENVIRONMENTAL PROTECTION.

    (a) No Significant Adverse Effect Standard To Govern Authorized 
Coastal Plain Activities.--The Secretary shall, consistent with the 
requirements of section 323, administer the provisions of this subtitle 
through regulations, lease terms, conditions, restrictions, 
prohibitions, stipulations, and other provisions that--
            (1) ensure the oil and gas exploration, development, and 
        production activities on the Coastal Plain will result in no 
        significant adverse effect on fish and wildlife, their habitat, 
        and the environment;
            (2) require the application of the best commercially 
        available technology for oil and gas exploration, development, 
        and production on all new exploration, development, and 
        production operations; and
            (3) ensure that the maximum amount of surface acreage 
        covered by production and support facilities, including 
        airstrips and any areas covered by gravel berms or piers for 
        support of pipelines, does not exceed 2,000 acres on the 
        Coastal Plain.
    (b) Site-Specific Assessment and Mitigation.--The Secretary shall 
also require, with respect to any proposed drilling and related 
activities, that--
            (1) a site-specific analysis be made of the probable 
        effects, if any, that the drilling or related activities will 
        have on fish and wildlife, their habitat, subsistence 
        resources, and the environment;
            (2) a plan be implemented to avoid, minimize, and mitigate 
        (in that order and to the extent practicable) any significant 
        adverse effect identified under paragraph (1); and
            (3) the development of the plan shall occur after 
        consultation with the agency or agencies having jurisdiction 
        over matters mitigated by the plan.
    (c) Regulations To Protect Coastal Plain Fish and Wildlife 
Resources, Subsistence Users, and the Environment.--Before implementing 
the leasing program authorized by this subtitle, the Secretary shall 
prepare and promulgate regulations, lease terms, conditions, 
restrictions, prohibitions, stipulations, and other measures designed 
to ensure that the activities undertaken on the Coastal Plain under 
this subtitle are conducted in a manner consistent with the purposes 
and environmental requirements of this subtitle.
    (d) Compliance With Federal and State Environmental Laws and Other 
Requirements.--The proposed regulations, lease terms, conditions, 
restrictions, prohibitions, and stipulations for the leasing program 
under this subtitle shall require compliance with all applicable 
provisions of Federal and State environmental law, and shall also 
require the following:
            (1) Standards at least as effective as the safety and 
        environmental mitigation measures set forth in items 1 through 
        29 at pages 167 through 169 of the ``Final Legislative 
        Environmental Impact Statement'' (April 1987) on the Coastal 
        Plain.
            (2) Seasonal limitations on exploration, development, and 
        related activities, where necessary, to avoid significant 
        adverse effects during periods of concentrated fish and 
        wildlife breeding, denning, nesting, spawning, and migration.
            (3) Design safety and construction standards for all 
        pipelines and any access and service roads, that--
                    (A) minimize, to the maximum extent possible, 
                adverse effects upon the passage of migratory species 
                such as caribou; and
                    (B) minimize adverse effects upon the flow of 
                surface water by requiring the use of culverts, 
                bridges, and other structural devices.
            (4) Prohibitions on general public access and use on all 
        pipeline access and service roads.
            (5) Stringent reclamation and rehabilitation requirements, 
        consistent with the standards set forth in this subtitle, 
        requiring the removal from the Coastal Plain of all oil and gas 
        development and production facilities, structures, and 
        equipment upon completion of oil and gas production operations, 
        except that the Secretary may exempt from the requirements of 
        this paragraph those facilities, structures, or equipment that 
        the Secretary determines would assist in the management of the 
        Arctic National Wildlife Refuge and that are donated to the 
        United States for that purpose.
            (6) Appropriate prohibitions or restrictions on access by 
        all modes of transportation.
            (7) Appropriate prohibitions or restrictions on sand and 
        gravel extraction.
            (8) Consolidation of facility siting.
            (9) Appropriate prohibitions or restrictions on use of 
        explosives.
            (10) Avoidance, to the extent practicable, of springs, 
        streams, and river system; the protection of natural surface 
        drainage patterns, wetlands, and riparian habitats; and the 
        regulation of methods or techniques for developing or 
        transporting adequate supplies of water for exploratory 
        drilling.
            (11) Avoidance or minimization of air traffic-related 
        disturbance to fish and wildlife.
            (12) Treatment and disposal of hazardous and toxic wastes, 
        solid wastes, reserve pit fluids, drilling muds and cuttings, 
        and domestic wastewater, including an annual waste management 
        report, a hazardous materials tracking system, and a 
        prohibition on chlorinated solvents, in accordance with 
        applicable Federal and State environmental law.
            (13) Fuel storage and oil spill contingency planning.
            (14) Research, monitoring, and reporting requirements.
            (15) Field crew environmental briefings.
            (16) Avoidance of significant adverse effects upon 
        subsistence hunting, fishing, and trapping by subsistence 
        users.
            (17) Compliance with applicable air and water quality 
        standards.
            (18) Appropriate seasonal and safety zone designations 
        around well sites, within which subsistence hunting and 
        trapping shall be limited.
            (19) Reasonable stipulations for protection of cultural and 
        archeological resources.
            (20) All other protective environmental stipulations, 
        restrictions, terms, and conditions deemed necessary by the 
        Secretary.
    (e) Considerations.--In preparing and promulgating regulations, 
lease terms, conditions, restrictions, prohibitions, and stipulations 
under this section, the Secretary shall consider the following:
            (1) The stipulations and conditions that govern the 
        National Petroleum Reserve-Alaska leasing program, as set forth 
        in the 1999 Northeast National Petroleum Reserve-Alaska Final 
        Integrated Activity Plan/Environmental Impact Statement.
            (2) The environmental protection standards that governed 
        the initial Coastal Plain seismic exploration program under 
        parts 37.31 to 37.33 of title 50, Code of Federal Regulations.
            (3) The land use stipulations for exploratory drilling on 
        the KIC-ASRC private lands that are set forth in appendix 2 of 
        the August 9, 1983, agreement between Arctic Slope Regional 
        Corporation and the United States.
    (f) Facility Consolidation Planning.--
            (1) In general.--The Secretary shall, after providing for 
        public notice and comment, prepare and update periodically a 
        plan to govern, guide, and direct the siting and construction 
        of facilities for the exploration, development, production, and 
        transportation of Coastal Plain oil and gas resources.
            (2) Objectives.--The plan shall have the following 
        objectives:
                    (A) Avoiding unnecessary duplication of facilities 
                and activities.
                    (B) Encouraging consolidation of common facilities 
                and activities.
                    (C) Locating or confining facilities and activities 
                to areas that will minimize impact on fish and 
                wildlife, their habitat, and the environment.
                    (D) Utilizing existing facilities wherever 
                practicable.
                    (E) Enhancing compatibility between wildlife values 
                and development activities.
    (g) Access to Public Lands.--The Secretary shall--
            (1) manage public lands in the Coastal Plain subject to 
        subsections (a) and (b) of section 811 of the Alaska National 
        Interest Lands Conservation Act (16 U.S.C. 3121); and
            (2) ensure that local residents shall have reasonable 
        access to public lands in the Coastal Plain for traditional 
        uses.

SEC. 328. EXPEDITED JUDICIAL REVIEW.

    (a) Filing of Complaint.--
            (1) Deadline.--Subject to paragraph (2), any complaint 
        seeking judicial review of any provision of this Act or any 
        action of the Secretary under this subtitle shall be filed--
                    (A) except as provided in subparagraph (B), within 
                the 90-day period beginning on the date of the action 
                being challenged; or
                    (B) in the case of a complaint based solely on 
                grounds arising after such period, within 90 days after 
                the complainant knew or reasonably should have known of 
                the grounds for the complaint.
            (2) Venue.--Any complaint seeking judicial review of any 
        provision of this subtitle or any action of the Secretary under 
        this subtitle may be filed only in the United States Court of 
        Appeals for the District of Columbia.
            (3) Limitation on scope of certain review.--Judicial review 
        of a Secretarial decision to conduct a lease sale under this 
        subtitle, including the environmental analysis thereof, shall 
        be limited to whether the Secretary has complied with the terms 
        of this subtitle and shall be based upon the administrative 
        record of that decision. The Secretary's identification of a 
        preferred course of action to enable leasing to proceed and the 
        Secretary's analysis of environmental effects under this 
        subtitle shall be presumed to be correct unless shown otherwise 
        by clear and convincing evidence to the contrary.
    (b) Limitation on Other Review.--Actions of the Secretary with 
respect to which review could have been obtained under this section 
shall not be subject to judicial review in any civil or criminal 
proceeding for enforcement.

SEC. 329. FEDERAL AND STATE DISTRIBUTION OF REVENUES.

    (a) In General.--Notwithstanding any other provision of law, of the 
amount of adjusted bonus, rental, and royalty revenues from Federal oil 
and gas leasing and operations authorized under this subtitle--
            (1) 25 percent shall be paid to the State of Alaska; and
            (2) except as provided in section 332(d), the balance shall 
        be deposited into the Treasury as miscellaneous receipts.
    (b) Payments to Alaska.--Payments to the State of Alaska under this 
section shall be made semiannually.

SEC. 330. RIGHTS-OF-WAY ACROSS THE COASTAL PLAIN.

    (a) In General.--The Secretary shall issue rights-of-way and 
easements across the Coastal Plain for the transportation of oil and 
gas--
            (1) except as provided in paragraph (2), under section 28 
        of the Mineral Leasing Act (30 U.S.C. 185), without regard to 
        title XI of the Alaska National Interest Lands Conservation Act 
        (30 U.S.C. 3161 et seq.); and
            (2) under title XI of the Alaska National Interest Lands 
        Conservation Act (30 U.S.C. 3161 et seq.), for access 
        authorized by sections 1110 and 1111 of that Act (16 U.S.C. 
        3170 and 3171).
    (b) Terms and Conditions.--The Secretary shall include in any 
right-of-way or easement issued under subsection (a) such terms and 
conditions as may be necessary to ensure that transportation of oil and 
gas does not result in a significant adverse effect on the fish and 
wildlife, subsistence resources, their habitat, and the environment of 
the Coastal Plain, including requirements that facilities be sited or 
designed so as to avoid unnecessary duplication of roads and pipelines.
    (c) Regulations.--The Secretary shall include in regulations under 
section 323(g) provisions granting rights-of-way and easements 
described in subsection (a) of this section.

SEC. 331. CONVEYANCE.

    In order to maximize Federal revenues by removing clouds on title 
to lands and clarifying land ownership patterns within the Coastal 
Plain, the Secretary, notwithstanding the provisions of section 
1302(h)(2) of the Alaska National Interest Lands Conservation Act (16 
U.S.C. 3192(h)(2)), shall convey--
            (1) to the Kaktovik Inupiat Corporation the surface estate 
        of the lands described in paragraph 1 of Public Land Order 
        6959, to the extent necessary to fulfill the Corporation's 
        entitlement under sections 12 and 14 of the Alaska Native 
        Claims Settlement Act (43 U.S.C. 1611 and 1613) in accordance 
        with the terms and conditions of the Agreement between the 
        Department of the Interior, the United States Fish and Wildlife 
        Service, the Bureau of Land Management, and the Kaktovik 
        Inupiat Corporation effective January 22, 1993; and
            (2) to the Arctic Slope Regional Corporation the remaining 
        subsurface estate to which it is entitled pursuant to the 
        August 9, 1983, agreement between the Arctic Slope Regional 
        Corporation and the United States of America.

SEC. 332. LOCAL GOVERNMENT IMPACT AID AND COMMUNITY SERVICE ASSISTANCE.

    (a) Financial Assistance Authorized.--
            (1) In general.--The Secretary may use amounts available 
        from the Coastal Plain Local Government Impact Aid Assistance 
        Fund established by subsection (d) to provide timely financial 
        assistance to entities that are eligible under paragraph (2) 
        and that are directly impacted by the exploration for or 
        production of oil and gas on the Coastal Plain under this 
        subtitle.
            (2) Eligible entities.--The North Slope Borough, the City 
        of Kaktovik, and any other borough, municipal subdivision, 
        village, or other community in the State of Alaska that is 
        directly impacted by exploration for, or the production of, oil 
        or gas on the Coastal Plain under this Act, as determined by 
        the Secretary, shall be eligible for financial assistance under 
        this section.
    (b) Use of Assistance.--Financial assistance under this section may 
be used only for--
            (1) planning for mitigation of the potential effects of oil 
        and gas exploration and development on environmental, social, 
        cultural, recreational, and subsistence values;
            (2) implementing mitigation plans and maintaining 
        mitigation projects;
            (3) developing, carrying out, and maintaining projects and 
        programs that provide new or expanded public facilities and 
        services to address needs and problems associated with such 
        effects, including fire-fighting, police, water, waste 
        treatment, medivac, and medical services; and
            (4) establishment of a coordination office, by the north 
        slope borough, in the City of Kaktovik, which shall--
                    (A) coordinate with and advise developers on local 
                conditions, impact, and history of the areas utilized 
                for development; and
                    (B) provide to the Committee on Resources of the 
                House of Representatives and the Committee on Energy 
                and Natural Resources of the Senate an annual report on 
                the status of coordination between developers and the 
                communities affected by development.
    (c) Application.--
            (1) In general.--Any community that is eligible for 
        assistance under this section may submit an application for 
        such assistance to the Secretary, in such form and under such 
        procedures as the Secretary may prescribe by regulation.
            (2) North slope borough communities.--A community located 
        in the North Slope Borough may apply for assistance under this 
        section either directly to the Secretary or through the North 
        Slope Borough
            (3) Application assistance.--The Secretary shall work 
        closely with and assist the North Slope Borough and other 
        communities eligible for assistance under this section in 
        developing and submitting applications for assistance under 
        this section.
    (d) Establishment of Fund.--
            (1) In general.--There is established in the Treasury the 
        Coastal Plain Local Government Impact Aid Assistance Fund.
            (2) Use.--Amounts in the fund may be used only for 
        providing financial assistance under this section.
            (3) Deposits.--Subject to paragraph (4), there shall be 
        deposited into the fund amounts received by the United States 
        as revenues derived from rents, bonuses, and royalties from 
        Federal leases and lease sales authorized under this subtitle.
            (4) Limitation on deposits.--The total amount in the fund 
        may not exceed $11,000,000.
            (5) Investment of balances.--The Secretary of the Treasury 
        shall invest amounts in the fund in interest bearing government 
        securities.
    (e) Authorization of Appropriations.--To provide financial 
assistance under this section there is authorized to be appropriated to 
the Secretary from the Coastal Plain Local Government Impact Aid 
Assistance Fund $5,000,000 for each fiscal year.

                        TITLE IV--EFFECTIVE DATE

SEC. 401. EFFECTIVE DATE.

    Titles I through IV of this Act and the amendments made by this Act 
shall take effect on the first day after the date of the enactment of 
this Act on which the spot price for West Texas Intermediate (WTI-
Cushing) crude oil is equal to or greater than $150 per barrel, as 
determined by the Energy Information Administration, Department of 
Energy.
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