II 112th CONGRESS 2d Session S. 2070 IN THE SENATE OF THE UNITED STATES February 6, 2012 Mr. Casey introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To promote the domestic development and deployment of natural gas and clean energy technologies.

1.

Short title

This Act may be cited as the Natural Gas Energy and Alternatives Rewards Act or the NGEAR Act.

2.

Purpose

The purpose of this Act is to establish clean energy policies that— (1)provide market certainty to drive private and commercial capital investment in clean energy options; (2)promote clean energy technologies that will— (A)lead to increased production, diversity, and dissemination of energy generation; and (B)enable the United States to bridge the gap from foreign energy imports to secure, domestically produced energy; and (3)contain clean energy incentives that will— (A)provide for ongoing increases in energy demands; (B)support the growth of jobs and businesses in America; and (C)reduce vehicular petroleum use and emissions.

3.

Extension of alternative fuels excise tax credits

(a)

In general

Sections 6426(d)(5) and 6426(e)(3) of the Internal Revenue Code of 1986 are each amended by striking December 31, 2011 (September 30, 2014, in the case of any sale or use involving liquefied hydrogen) and inserting December 31, 2016. (b)

Conforming amendments for direct payments

Paragraph (6) of section 6427(e) of the Internal Revenue Code of 1986 is amended— (1)by adding and at the end of subparagraph (B), and (2)by striking subparagraphs (C) and (D) and inserting the following new subparagraph: (C)any alternative fuel or alternative fuel mixture (as defined in subsection (d)(2) or (e)(3) of section 6426) sold or used after December 31, 2016. . (c)

Effective date

The amendments made by this section shall apply to fuel sold or used after December 31, 2011.

4.

Extension and modification of alternative fuel vehicle refueling property credit

(a)

In general

Paragraph (1) of section 30C(g) of the Internal Revenue Code of 1986 is amended to read as follows: (1)in the case of property of a character subject to an allowance for depreciation, after December 31, 2016, and . (b)

Effective date

The amendment made by this section shall apply to property placed in service after December 31, 2011.

5.

Natural Gas Energy and Alternatives Rebates Program

Section 400CC of the Energy Policy and Conservation Act (42 U.S.C. 6374b) is amended to read as follows:

400CC.

Alternative fuels bus program

(a)

Definitions

In this section: (1)

Alternative fuel

The term alternative fuel means natural gas, liquid petroleum gas, hydrogen, or fuel cell. (2)

Alternatively fueled bus

The term alternatively fueled bus means— (A)a school bus (as defined in section 390.5 of title 49, Code of Federal Regulations) that operates on alternative fuel; (B)a multifunction school activity bus (as defined in section 571.3 of title 49, Code of Federal Regulations) that operates on alternative fuel; or (C)a motor vehicle that— (i)provides public transportation (as defined in section 5302(a)(10) of title 49, United States Code); and (ii)operates on alternative fuel. (3)

Eligible entity

The term eligible entity means— (A)a public or private entity providing transportation exclusively for school students, personnel, and equipment; or (B)a public entity providing mass transit services to the public. (b)

Rebate program

(1)

In general

The Secretary of Transportation shall establish the Natural Gas Energy and Alternatives Rebates Program (referred to in this section as the NGEAR Program) to subsidize the purchase of alternatively fueled buses by eligible entities. (2)

Amounts

An eligible entity that purchases an alternatively fueled bus during the period beginning on the date of the enactment of the NGEAR Act and ending on December 31, 2016, is eligible to receive a rebate from the Department of Transportation in an amount equal to the lesser of— (A)30 percent of the purchase price of the alternatively fueled bus; or (B)$15,000. (3)

Application

Eligible entities desiring a rebate under this subsection shall submit an application to the Secretary of Transportation that contains copies of relevant sales invoices and any additional information that the Secretary of Transportation may require.

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