S 3126 ISCommentsClose CommentsPermalink

To provide for the development of certain traditional and alternative energy resources, and for other purposes.CommentsClose CommentsPermalink

June 12, 2008CommentsClose CommentsPermalink

Mr. COLEMAN introduced the following bill; which was read twice and referred to the Committee on FinanceCommentsClose CommentsPermalink

To provide for the development of certain traditional and alternative energy resources, and for other purposes.CommentsClose CommentsPermalink

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

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title- This Act may be cited as the ‘Energy Resource Development Act of 2008’.CommentsClose CommentsPermalink





(b) Table of Contents- The table of contents of this Act is as follows:CommentsClose CommentsPermalink





Sec. 1. Short title; table of contents.CommentsClose CommentsPermalink





Sec. 2. Definition of Secretary.CommentsClose CommentsPermalink

TITLE I--TRADITIONAL RESOURCES

Sec. 101. Revocation of withdrawal of certain areas of the outer Continental Shelf.CommentsClose CommentsPermalink





Sec. 102. State authority to protect certain coastal areas.CommentsClose CommentsPermalink





Sec. 103. Production of oil and natural gas in new producing areas.CommentsClose CommentsPermalink

TITLE II--ALTERNATIVE RESOURCES

Subtitle A--Renewable Fuel and Advanced Energy Technology

Sec. 201. Energy Independence Trust Fund.CommentsClose CommentsPermalink





Sec. 202. Loan guarantees for renewable fuel pipelines.CommentsClose CommentsPermalink

Subtitle B--Clean Coal-Derived Fuels for Energy Security

Sec. 211. Definitions.CommentsClose CommentsPermalink





Sec. 212. Clean coal-derived fuel program.CommentsClose CommentsPermalink

Subtitle C--Nuclear Energy

Sec. 221. Incentives for innovative technologies.CommentsClose CommentsPermalink





Sec. 222. Authorization for Nuclear Power 2010 Program.CommentsClose CommentsPermalink





Sec. 223. Domestic manufacturing base for nuclear components and equipment.CommentsClose CommentsPermalink





Sec. 224. Nuclear energy workforce.CommentsClose CommentsPermalink





Sec. 225. Investment tax credit for investments in nuclear power facilities.CommentsClose CommentsPermalink

SEC. 2. DEFINITION OF SECRETARY.

In this Act, the term ‘Secretary’ means the Secretary of Energy.CommentsClose CommentsPermalink

TITLE I--TRADITIONAL RESOURCESCommentsClose CommentsPermalink

SEC. 101. REVOCATION OF WITHDRAWAL OF CERTAIN AREAS OF THE OUTER CONTINENTAL SHELF.

The ‘Memorandum on Withdrawal of Certain Areas of the United States Outer Continental Shelf from Leasing Disposition’, 34 Weekly Comp. Pres. Doc. 1111, dated June 12, 1998, is revoked and no longer in effect regarding any area on the outer Continental Shelf covered by sections 104 and 105 of the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008 (Public Law 110-161; 121 Stat. 2118).CommentsClose CommentsPermalink

SEC. 102. STATE AUTHORITY TO PROTECT CERTAIN COASTAL AREAS.

Section 19 of the Outer Continental Shelf Lands Act (43 U.S.C. 1345) is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(f) Approval by Certain Affected States-CommentsClose CommentsPermalink





‘(1) DEFINITION OF AFFECTED STATE- In this subsection, the term ‘affected State’ means a State that the Secretary, in consultation with the Administrator of the Environmental Protection Agency, determines could be affected negatively by the potential environmental or economic impacts of a proposed lease sale or proposed development and production plan under this Act.CommentsClose CommentsPermalink





‘(2) NOTICE TO AFFECTED STATES- Not later than 30 days before the date of a proposed lease sale or the publication of a proposed development and production plan, the Secretary shall submit to the Governor of each affected State notice of the proposed sale or plan.CommentsClose CommentsPermalink





‘(3) AUTHORITIES OF AFFECTED STATES- Not later than 60 days after the date on which the Secretary provides to the Governor of an affected State notice under paragraph (2), the Governor of the affected State shall submit to the Secretary a written response to the proposed sale or plan that--CommentsClose CommentsPermalink





‘(A) specifies whether the Governor--CommentsClose CommentsPermalink





‘(i) accepts the sale or plan as proposed;CommentsClose CommentsPermalink





‘(ii) accepts the sale or plan with modification; orCommentsClose CommentsPermalink





‘(iii) vetoes the proposed sale or plan; andCommentsClose CommentsPermalink





‘(B) in the case of subparagraph (A)(ii), includes a counterproposal that describes--CommentsClose CommentsPermalink





‘(i) any proposed modifications to--CommentsClose CommentsPermalink





‘(I) the proposed plan; orCommentsClose CommentsPermalink





‘(II) the size, time, or location of the proposed sale; andCommentsClose CommentsPermalink





‘(ii) any areas off the coast of the State that the Governor recommends for long-term protection in the form of a moratorium on leasing for a period of not more than 20 years based on--CommentsClose CommentsPermalink





‘(I) any information in existence on the date of the counterproposal concerning the geographical, geological, and ecological characteristics of the areas proposed for protection;CommentsClose CommentsPermalink





‘(II) an equitable sharing of developmental benefits and environmental risks among the areas;CommentsClose CommentsPermalink





‘(III) the location of the areas with respect to--CommentsClose CommentsPermalink

‘(aa) other uses of the sea and seabed in the areas, including fisheries, navigation, existing or proposed sealanes, potential sites of deepwater ports; andCommentsClose CommentsPermalink

‘(bb) other anticipated uses of the resources and space of other areas of the outer Continental Shelf;CommentsClose CommentsPermalink

‘(IV) any relevant laws, goals, and policies of the State; andCommentsClose CommentsPermalink





‘(V) the relative environmental sensitivity and marine productivity of other areas of the outer Continental Shelf.CommentsClose CommentsPermalink





‘(4) SECRETARIAL RESPONSE-CommentsClose CommentsPermalink





‘(A) IN GENERAL- As soon as practicable after the Secretary receives a counterproposal under paragraph (3)(B), the Secretary, in consultation with the Secretary of Defense, shall--CommentsClose CommentsPermalink





‘(i) approve the counterproposal without modification;CommentsClose CommentsPermalink





‘(ii) attempt to enter into an agreement with the Governor to modify the counterproposal; orCommentsClose CommentsPermalink





‘(iii) deny the counterproposal.CommentsClose CommentsPermalink





‘(B) APPROVAL OF AGREEMENT- To be valid, an agreement entered into under subparagraph (A)(ii) requires the approval of the Governor, the Secretary, and the Secretary of the Defense.’.CommentsClose CommentsPermalink

SEC. 103. PRODUCTION OF OIL AND NATURAL GAS IN NEW PRODUCING AREAS.

The Outer Continental Shelf Lands Act (43 U.S.C. 1331 et seq.) is amended by adding at the end the following:CommentsClose CommentsPermalink

‘SEC. 32. PRODUCTION OF OIL AND NATURAL GAS IN NEW PRODUCING AREAS.

‘(a) Definitions- In this section:CommentsClose CommentsPermalink





‘(1) COASTAL POLITICAL SUBDIVISION- The term ‘coastal political subdivision’ means a political subdivision of a new producing State any part of which political subdivision is--CommentsClose CommentsPermalink





‘(A) within the coastal zone (as defined in section 304 of the Coastal Zone Management Act of 1972 (16 U.S.C. 1453)) of the new producing State as of the date of enactment of this section; andCommentsClose CommentsPermalink





‘(B) not more than 200 nautical miles from the geographic center of any leased tract.CommentsClose CommentsPermalink





‘(2) MORATORIUM AREA-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘moratorium area’ means an area covered by sections 104 through 105 of the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008 (Public Law 110-161; 121 Stat. 2118).CommentsClose CommentsPermalink





‘(B) EXCLUSION- The term ‘moratorium area’ does not include an area located in the Gulf of Mexico.CommentsClose CommentsPermalink





‘(3) NEW PRODUCING AREA- The term ‘new producing area’ means any moratorium area beyond the submerged land of a new producing State.CommentsClose CommentsPermalink





‘(4) NEW PRODUCING STATE- The term ‘new producing State’ means a State that has received notice of a proposed lease sale for a new producing area under section 19(f)(2).CommentsClose CommentsPermalink





‘(5) QUALIFIED OUTER CONTINENTAL SHELF REVENUES-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘qualified outer Continental Shelf revenues’ means all rentals, royalties, bonus bids, and other sums due and payable to the United States from leases entered into on or after the date of enactment of this section for new producing areas.CommentsClose CommentsPermalink





‘(B) EXCLUSIONS- The term ‘qualified outer Continental Shelf revenues’ does not include--CommentsClose CommentsPermalink





‘(i) revenues from a bond or other surety forfeited for obligations other than the collection of royalties;CommentsClose CommentsPermalink





‘(ii) revenues from civil penalties;CommentsClose CommentsPermalink





‘(iii) royalties taken by the Secretary in-kind and not sold;CommentsClose CommentsPermalink





‘(iv) revenues generated from leases subject to section 8(g); orCommentsClose CommentsPermalink





‘(v) any revenues considered qualified outer Continental Shelf revenues under section 102 of the Gulf of Mexico Energy Security Act of 2006 (43 U.S.C. 1331 note; Public Law 109-432).CommentsClose CommentsPermalink





‘(b) Availability for Leasing- On approval by the new producing State of a proposed lease sale for a new producing area under section 19(f), the Secretary shall conduct the proposed lease sale for the new producing area.CommentsClose CommentsPermalink





‘(c) Disposition of Qualified Outer Continental Shelf Revenues From New Producing Areas-CommentsClose CommentsPermalink





‘(1) IN GENERAL- Notwithstanding section 9 and subject to the other provisions of this subsection, for each applicable fiscal year, the Secretary of the Treasury shall deposit--CommentsClose CommentsPermalink





‘(A) 50 percent of qualified outer Continental Shelf revenues--CommentsClose CommentsPermalink





‘(i) in the fund established by section 201 of the Energy Resource Development Act of 2008; orCommentsClose CommentsPermalink





‘(ii) if the Secretary of the Treasury determines that the fund described in clause (i) is fully funded, in the general fund of the Treasury; andCommentsClose CommentsPermalink





‘(B) 50 percent of qualified outer Continental Shelf revenues in a special account in the Treasury from which the Secretary shall disburse--CommentsClose CommentsPermalink





‘(i) 75 percent to new producing States in accordance with paragraph (2); andCommentsClose CommentsPermalink





‘(ii) 25 percent to provide financial assistance to States in accordance with section 6 of the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 460l-8), which shall be considered income to the Land and Water Conservation Fund for purposes of section 2 of that Act (16 U.S.C. 460l-5).CommentsClose CommentsPermalink





‘(2) ALLOCATION TO NEW PRODUCING STATES AND COASTAL POLITICAL SUBDIVISIONS-CommentsClose CommentsPermalink





‘(A) ALLOCATION TO NEW PRODUCING STATES- Effective for fiscal year 2008 and each fiscal year thereafter, the amount made available under paragraph (1)(B)(i) shall be allocated to each new producing State in amounts (based on a formula established by the Secretary by regulation) proportional to the amount of qualified outer Continental Shelf revenues generated in the new producing area offshore each State.CommentsClose CommentsPermalink





‘(B) PAYMENTS TO COASTAL POLITICAL SUBDIVISIONS-CommentsClose CommentsPermalink





‘(i) IN GENERAL- The Secretary shall pay 20 percent of the allocable share of each new producing State, as determined under subparagraph (A), to the coastal political subdivisions of the new producing State.CommentsClose CommentsPermalink





‘(ii) ALLOCATION- The amount paid by the Secretary to coastal political subdivisions shall be allocated to each coastal political subdivision in accordance with subparagraphs (B) and (C) of section 31(b)(4).CommentsClose CommentsPermalink





‘(3) MINIMUM ALLOCATION- The amount allocated to a new producing State for each fiscal year under paragraph (2) shall be at least 5 percent of the amounts available under for the fiscal year under paragraph (1)(B)(i).CommentsClose CommentsPermalink





‘(4) TIMING- The amounts required to be deposited under subparagraph (B) of paragraph (1) for the applicable fiscal year shall be made available in accordance with that subparagraph during the fiscal year immediately following the applicable fiscal year.CommentsClose CommentsPermalink





‘(5) AUTHORIZED USES-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Subject to subparagraph (B), each new producing State and coastal political subdivision shall use all amounts received under paragraph (2) in accordance with all applicable Federal and State laws, only for 1 or more of the following purposes:CommentsClose CommentsPermalink





‘(i) Projects and activities for the purposes of coastal protection, including conservation, coastal restoration, and hurricane protection.CommentsClose CommentsPermalink





‘(ii) Mitigation of damage to fish, wildlife, or natural resources.CommentsClose CommentsPermalink





‘(iii) Implementation of a federally-approved marine, coastal, or comprehensive conservation management plan.CommentsClose CommentsPermalink





‘(iv) Mitigation of the impact of outer Continental Shelf activities through the funding of onshore projects.CommentsClose CommentsPermalink





‘(v) Planning assistance and the administrative costs of complying with this section.CommentsClose CommentsPermalink





‘(B) LIMITATION- Not more than 3 percent of amounts received by a new producing State or coastal political subdivision under paragraph (2) may be used for the purposes described in subparagraph (A)(v).CommentsClose CommentsPermalink





‘(6) ADMINISTRATION- Amounts made available under paragraph (1)(B) shall--CommentsClose CommentsPermalink





‘(A) be made available, without further appropriation, in accordance with this subsection;CommentsClose CommentsPermalink





‘(B) remain available until expended; andCommentsClose CommentsPermalink





‘(C) be in addition to any amounts appropriated under--CommentsClose CommentsPermalink





‘(i) other provisions of this Act;CommentsClose CommentsPermalink





‘(ii) the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 460l-4 et seq.); orCommentsClose CommentsPermalink





‘(iii) any other provision of law.CommentsClose CommentsPermalink





‘(d) Disposition of Qualified Outer Continental Shelf Revenues From Other Areas- Notwithstanding section 9, for each applicable fiscal year, the terms and conditions of subsection (c) shall apply to the disposition of qualified outer Continental Shelf revenues that--CommentsClose CommentsPermalink





‘(1) are derived from oil or gas leasing in an area that is not included in the current 5-year plan of the Secretary for oil or gas leasing; andCommentsClose CommentsPermalink





‘(2) are not assumed in the budget of the United States Government submitted by the President under section 1105 of title 31, United States Code.CommentsClose CommentsPermalink





‘(e) Due Diligence Required-CommentsClose CommentsPermalink





‘(1) NEW PRODUCING AREA LEASES- Each lease entered into under this section shall provide that if a lessee fails to initiate development of the oil or gas resources in the new producing area subject to the lease by the date that is 2 years after the date of the issuance of the lease--CommentsClose CommentsPermalink





‘(A) the lease shall terminate; andCommentsClose CommentsPermalink





‘(B) the Secretary shall conduct a new lease sale for the new producing area that was subject to the terminated lease.CommentsClose CommentsPermalink





‘(2) EXISTING LEASES-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Any lease entered into under any other section of this Act that is in effect on the date of enactment of this section shall terminate at the end of the 10-year lease period specified in the lease.CommentsClose CommentsPermalink





‘(B) AVAILABILITY FOR LEASING- The Secretary shall conduct a new lease sale for any area subject to a lease terminated under subparagraph (A) in accordance with this Act.CommentsClose CommentsPermalink





‘(C) LEASE REQUIREMENTS- Any lease issued under a lease sale conducted under subparagraph (B) shall provide that if a lessee fails to initiate development of the oil or gas resources in the area subject to the lease by the date that is 2 years after the date of the issuance of the lease--CommentsClose CommentsPermalink





‘(i) the lease shall terminate; andCommentsClose CommentsPermalink





‘(ii) the Secretary shall conduct a new lease sale for the area that was subject to the terminated lease.’.CommentsClose CommentsPermalink

TITLE II--ALTERNATIVE RESOURCESCommentsClose CommentsPermalink

Subtitle A--Renewable Fuel and Advanced Energy TechnologyCommentsClose CommentsPermalink

SEC. 201. ENERGY INDEPENDENCE TRUST FUND.

(a) Establishment- There is established in the Treasury of the United States a revolving fund, to be known as the ‘Energy Independence Trust Fund’ (referred to in this section as the ‘Fund’), consisting of such amounts as are deposited in the Fund under section 32(c)(1)(A)(i) of the Outer Continental Shelf Lands Act (as added by section 102).CommentsClose CommentsPermalink





(b) Expenditures From Fund-CommentsClose CommentsPermalink





(1) IN GENERAL- Subject to paragraph (2), on request by the Secretary, the Secretary of the Treasury shall transfer from the Fund to the Secretary such amounts as the Secretary determines are necessary to carry out the following:CommentsClose CommentsPermalink





(A) Section 609 of the Public Utility Regulatory Policies Act of 1978 (7 U.S.C. 918c).CommentsClose CommentsPermalink





(B) Title V of the Toxic Substances Control Act (15 U.S.C. 2695 et seq.).CommentsClose CommentsPermalink





(C) Sections 211(r), 212, and 329 of the Clean Air Act (42 U.S.C. 7545(r), 7546, 7628).CommentsClose CommentsPermalink





(D) The following provisions of the Energy Policy and Conservation Act:CommentsClose CommentsPermalink





(i) Section 324A (42 U.S.C. 6294a).CommentsClose CommentsPermalink





(ii) Section 337(c) (42 U.S.C. 6307(c)).CommentsClose CommentsPermalink





(iii) Section 365(f) (42 U.S.C. 6325(f)).CommentsClose CommentsPermalink





(iv) Part E of title III (42 U.S.C. 6341 et seq.).CommentsClose CommentsPermalink





(v) Section 399A (42 U.S.C. 6371h-1).CommentsClose CommentsPermalink





(E) The following provisions of the Energy Policy Act of 2005:CommentsClose CommentsPermalink





(i) Section 107 (42 U.S.C. 15812).CommentsClose CommentsPermalink





(ii) The amendments made by section 123 (119 Stat. 616).CommentsClose CommentsPermalink





(iii) Sections 124 through 127 (42 U.S.C. 15821 through 15824).CommentsClose CommentsPermalink





(iv) The amendments made by section 128 (119 Stat. 619).CommentsClose CommentsPermalink





(v) Sections 133 and 134 (42 U.S.C. 15831, 15832).CommentsClose CommentsPermalink





(vi) Section 140 (42 U.S.C. 15833).CommentsClose CommentsPermalink





(vii) Section 201 (42 U.S.C. 15851).CommentsClose CommentsPermalink





(viii) The amendments made by section 202 (119 Stat. 651).CommentsClose CommentsPermalink





(ix) The amendments made by section 206 (119 Stat. 654).CommentsClose CommentsPermalink





(x) Section 207 (119 Stat. 656).CommentsClose CommentsPermalink





(xi) Sections 208 and 210 (42 U.S.C. 15854, 15855).CommentsClose CommentsPermalink





(xii) Sections 242 and 243 (42 U.S.C. 15881, 15882).CommentsClose CommentsPermalink





(xiii) The amendments made by section 251 (119 Stat. 679).CommentsClose CommentsPermalink





(xiv) Section 252 (42 U.S.C. 15891).CommentsClose CommentsPermalink





(xv) Sections 706, 712, 721, and 731 (42 U.S.C. 16051, 16062, 16071, 16081).CommentsClose CommentsPermalink





(xvi) Subtitle C of title VII (42 U.S.C. 16091 et seq.).CommentsClose CommentsPermalink





(xvii) Sections 751 and 755 through 758 (42 U.S.C. 16101, 16103 through 16106).CommentsClose CommentsPermalink





(xviii) Section 771 (119 Stat. 834).CommentsClose CommentsPermalink





(xix) Sections 782 and 783 (42 U.S.C. 16122, 16123).CommentsClose CommentsPermalink





(xx) Sections 805, 808, 809, and 812 (42 U.S.C. 16154, 16157, 16158, 16161).CommentsClose CommentsPermalink





(xxi) Sections 911, 917, 921, and 931 (42 U.S.C. 16191, 16197, 16211, 16231).CommentsClose CommentsPermalink





(xxii) The amendments made by section 941 (119 Stat. 873).CommentsClose CommentsPermalink





(xxiii) Sections 942, 944 through 947, and 963 (42 U.S.C. 16251, 16253 through 16256, 16293).CommentsClose CommentsPermalink





(xxiv) Sections 1510, 1514, and 1516 (42 U.S.C. 16501, 16502, 16503).CommentsClose CommentsPermalink





(F) The following provisions of the Energy Independence and Security Act of 2007:CommentsClose CommentsPermalink





(i) Sections 131 and 135 (42 U.S.C. 17011, 17012).CommentsClose CommentsPermalink





(ii) Sections 207, 223, 229, 230, 234, 244, and 246 (42 U.S.C. 17022, 17032, 17033, 17034, 17035, 17052, 17053).CommentsClose CommentsPermalink





(iii) Section 243 (121 Stat. 1540).CommentsClose CommentsPermalink





(iv) Section 411 (42 U.S.C. 6872 note; Public Law 110-140).CommentsClose CommentsPermalink





(v) Sections 422, 440, 452, 491, and 495 (42 U.S.C. 17082, 17096, 17111, 17121, 17124).CommentsClose CommentsPermalink





(vi) Section 501 (121 Stat. 1655).CommentsClose CommentsPermalink





(vii) Section 502 (2 U.S.C. 2169).CommentsClose CommentsPermalink





(viii) The amendments made by section 505 (121 Stat. 1656).CommentsClose CommentsPermalink





(ix) Section 517 (42 U.S.C. 17131).CommentsClose CommentsPermalink





(x) Subtitle E of title V (42 U.S.C. 17151 et seq.).CommentsClose CommentsPermalink





(xi) Section 602 (42 U.S.C. 17171).CommentsClose CommentsPermalink





(xii) Sections 604 through 607 (42 U.S.C. 17172 through 17175).CommentsClose CommentsPermalink





(xiii) Subtitles B through E of title VI (42 U.S.C. 17191 et seq.) (other than section 653).CommentsClose CommentsPermalink





(xiv) Sections 703, 705, 707, 708, 711, and 712 (42 U.S.C. 17251, 17253, 17255, 17256, 17271, 17272).CommentsClose CommentsPermalink





(xv) Sections 805 and 807 (42 U.S.C. 17284, 17286).CommentsClose CommentsPermalink





(xvi) Sections 912, 913, 916, 917, 925, and 927 (42 U.S.C. 17332, 17333, 17336, 17337, 17355, 17357).CommentsClose CommentsPermalink





(G) Section 202.CommentsClose CommentsPermalink





(H) Subtitle C.CommentsClose CommentsPermalink





(2) ADMINISTRATIVE EXPENSES- An amount not exceeding 5 percent of the amounts in the Fund shall be available for each fiscal year to pay the administrative expenses necessary to carry out this section.CommentsClose CommentsPermalink





(c) Transfers of Amounts-CommentsClose CommentsPermalink





(1) IN GENERAL- The amounts required to be transferred to the Fund under this section shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury.CommentsClose CommentsPermalink





(2) ADJUSTMENTS- Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred.CommentsClose CommentsPermalink

SEC. 202. LOAN GUARANTEES FOR RENEWABLE FUEL PIPELINES.

(a) Definitions- In this section:CommentsClose CommentsPermalink





(1) COST- The term ‘cost’ has the meaning given the term ‘cost of a loan guarantee’ in section 502(5)(C) of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a(5)(C)).CommentsClose CommentsPermalink





(2) ELIGIBLE PROJECT- The term eligible project means a project described in subsection (b)(1).CommentsClose CommentsPermalink





(3) GUARANTEE-CommentsClose CommentsPermalink





(A) IN GENERAL- The term ‘guarantee’ has the meaning given the term ‘loan guarantee’ in section 502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a).CommentsClose CommentsPermalink





(B) INCLUSION- The term ‘guarantee’ includes a loan guarantee commitment (as defined in section 502 of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a)).CommentsClose CommentsPermalink





(4) RENEWABLE FUEL- The term ‘renewable fuel’ has the meaning given the term in section 211(o)(1) of the Clean Air Act (42 U.S.C. 7545(o)(1)) (as in effect on January 1, 2009).CommentsClose CommentsPermalink





(5) RENEWABLE FUEL PIPELINE- The term ‘renewable fuel pipeline’ means a common carrier pipeline for transporting renewable fuel.CommentsClose CommentsPermalink





(b) Loan Guarantees-CommentsClose CommentsPermalink





(1) IN GENERAL- The Secretary shall make guarantees under this section for projects that provide for the construction of new renewable fuel pipelines.CommentsClose CommentsPermalink





(2) ELIGIBILITY- In determining the eligibility of a project for a guarantee under this section, the Secretary shall consider--CommentsClose CommentsPermalink





(A) the volume of renewable fuel to be moved by the renewable fuel pipeline;CommentsClose CommentsPermalink





(B) the size of the markets to be served by the renewable fuel pipeline;CommentsClose CommentsPermalink





(C) the existence of sufficient storage to facilitate access to the markets served by the renewable fuel pipeline;CommentsClose CommentsPermalink





(D) the proximity of the renewable fuel pipeline to ethanol production facilities;CommentsClose CommentsPermalink





(E) the investment of the entity carrying out the proposed project in terminal infrastructure;CommentsClose CommentsPermalink





(F) the experience of the entity carrying out the proposed project in working with renewable fuels;CommentsClose CommentsPermalink





(G) the ability of the entity carrying out the proposed project to maintain the quality of the renewable fuel through--CommentsClose CommentsPermalink





(i) the terminal system of the entity; andCommentsClose CommentsPermalink





(ii) the dedicated pipeline system;CommentsClose CommentsPermalink





(H) the ability of the entity carrying out the proposed project to complete the project in a timely manner; andCommentsClose CommentsPermalink





(I) the ability of the entity carrying out the proposed project to secure property rights-of-way in order to move the proposed project forward in a timely manner.CommentsClose CommentsPermalink





(3) AMOUNT- Unless otherwise provided by law, a guarantee by the Secretary under this section shall not exceed an amount equal to 90 percent of the eligible project cost of the renewable fuel pipeline that is the subject of the guarantee, as estimated at the time at which the guarantee is issued or subsequently modified while the eligible project is under construction.CommentsClose CommentsPermalink





(4) TERMS AND CONDITIONS- Guarantees under this section shall be provided in accordance with section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512), except that subsections (b) and (c) of that section shall not apply to guarantees under this section.CommentsClose CommentsPermalink





(5) EXISTING FUNDING AUTHORITY- The Secretary shall make a guarantee under this section under an existing funding authority.CommentsClose CommentsPermalink





(6) FINAL RULE- Not later than 90 days after the date of enactment of this Act, the Secretary shall publish in the Federal Register a final rule directing the Director of the Department of Energy Loan Guarantee Program Office to initiate the loan guarantee program under this section in accordance with this section.CommentsClose CommentsPermalink





(c) Funding-CommentsClose CommentsPermalink





(1) IN GENERAL- There are authorized to be appropriated such sums as are necessary to provide $4,000,000,000 in guarantees under this section.CommentsClose CommentsPermalink





(2) USE OF OTHER APPROPRIATED FUNDS- To the extent that the amounts made available under title XVII of the Energy Policy Act of 2005 (42 U.S.C. 16511 et seq.) have not been disbursed to programs under that title, the Secretary may use the amounts to carry out this section.CommentsClose CommentsPermalink

Subtitle B--Clean Coal-Derived Fuels for Energy SecurityCommentsClose CommentsPermalink

SEC. 211. DEFINITIONS.

In this subtitle:CommentsClose CommentsPermalink





(1) CLEAN COAL-DERIVED FUEL-CommentsClose CommentsPermalink





(A) IN GENERAL- The term ‘clean coal-derived fuel’ means aviation fuel, motor vehicle fuel, home heating oil, or boiler fuel that is--CommentsClose CommentsPermalink





(i) substantially derived from the coal resources of the United States; andCommentsClose CommentsPermalink





(ii) refined or otherwise processed at a facility located in the United States that captures--CommentsClose CommentsPermalink





(I) at least 50 percent of the carbon dioxide emissions that would otherwise be released at the facility; orCommentsClose CommentsPermalink





(II) if the Secretary determines that it is commercially feasible to capture a higher percentage of carbon dioxide emissions, a percentage equal to or greater than the percentage of carbon dioxide emissions determined by the Secretary to be commercially feasible of being captured.CommentsClose CommentsPermalink





(B) INCLUSIONS- The term ‘clean coal-derived fuel’ may include any other resource that is extracted, grown, produced, or recovered in the United States.CommentsClose CommentsPermalink





(2) COVERED FUEL- The term ‘covered fuel’ means--CommentsClose CommentsPermalink





(A) aviation fuel;CommentsClose CommentsPermalink





(B) motor vehicle fuel;CommentsClose CommentsPermalink





(C) home heating oil; andCommentsClose CommentsPermalink





(D) boiler fuel.CommentsClose CommentsPermalink





(3) SMALL REFINERY- The term ‘small refinery’ means a refinery for which the average aggregate daily crude oil throughput for a calendar year (as determined by dividing the aggregate throughput for the calendar year by the number of days in the calendar year) does not exceed 75,000 barrels.CommentsClose CommentsPermalink

SEC. 212. CLEAN COAL-DERIVED FUEL PROGRAM.

(a) Program-CommentsClose CommentsPermalink





(1) IN GENERAL- Not later than 1 year after the date of enactment of this Act, the President shall promulgate regulations to ensure that covered fuel sold or introduced into commerce in the United States (except in noncontiguous States or territories), on an annual average basis, contains the applicable volume of clean coal-derived fuel determined in accordance with paragraph (4).CommentsClose CommentsPermalink





(2) PROVISIONS OF REGULATIONS- Regardless of the date of promulgation, the regulations promulgated under paragraph (1)--CommentsClose CommentsPermalink





(A) shall contain compliance provisions applicable to refineries, blenders, distributors, and importers, as appropriate, to ensure that--CommentsClose CommentsPermalink





(i) the requirements of this subsection are met; andCommentsClose CommentsPermalink





(ii) clean coal-derived fuels produced from facilities for the purpose of compliance with this subtitle result in life cycle greenhouse gas emissions that are not greater than gasoline; andCommentsClose CommentsPermalink





(B) shall not--CommentsClose CommentsPermalink





(i) restrict geographic areas in the contiguous United States in which clean coal-derived fuel may be used; orCommentsClose CommentsPermalink





(ii) impose any per-gallon obligation for the use of clean coal-derived fuel.CommentsClose CommentsPermalink





(3) RELATIONSHIP TO OTHER REGULATIONS- Regulations promulgated under this paragraph shall, to the maximum extent practicable, incorporate the program structure, compliance and reporting requirements established under the final regulations promulgated to implement the renewable fuel program established by the amendment made by section 1501(a)(2) of the Energy Policy Act of 2005 (Public Law 109-58; 119 Stat. 1067).CommentsClose CommentsPermalink





(4) APPLICABLE VOLUME-CommentsClose CommentsPermalink





(A) CALENDAR YEARS 2015 THROUGH 2022- For the purpose of this subsection, the applicable volume for any of calendar years 2015 through 2022 shall be determined in accordance with the following table:CommentsClose CommentsPermalink

-------------------------------------------------------------------------------- CommentsClose CommentsPermalink

Calendar year: Applicable volume of clean coal-derived fuel (in billions of gallons) CommentsClose CommentsPermalink

-------------------------------------------------------------------------------- CommentsClose CommentsPermalink

2015                                                                            .075 CommentsClose CommentsPermalink

2016                                                                             1.5 CommentsClose CommentsPermalink

2017                                                                            2.25 CommentsClose CommentsPermalink

2018                                                                            3.00 CommentsClose CommentsPermalink

2019                                                                            3.75 CommentsClose CommentsPermalink

2020                                                                             4.5 CommentsClose CommentsPermalink

2021                                                                            5.25 CommentsClose CommentsPermalink

2022                                                                             6.0 CommentsClose CommentsPermalink

-------------------------------------------------------------------------------- CommentsClose CommentsPermalink

(B) CALENDAR YEAR 2023 AND THEREAFTER- Subject to subparagraph (C), for the purposes of this subsection, the applicable volume for calendar year 2023 and each calendar year thereafter shall be determined by the President, in coordination with the Secretary and the Administrator of the Environmental Protection Agency, based on a review of the implementation of the program during calendar years 2015 through 2022, including a review of--CommentsClose CommentsPermalink





(i) the impact of clean coal-derived fuels on the energy security of the United States;CommentsClose CommentsPermalink





(ii) the expected annual rate of future production of clean coal-derived fuels; andCommentsClose CommentsPermalink





(iii) the impact of the use of clean coal-derived fuels on other factors, including job creation, rural economic development, and the environment.CommentsClose CommentsPermalink





(C) MINIMUM APPLICABLE VOLUME- For the purpose of this subsection, the applicable volume for calendar year 2023 and each calendar year thereafter shall be equal to the product obtained by multiplying--CommentsClose CommentsPermalink





(i) the number of gallons of covered fuel that the President estimates will be sold or introduced into commerce in the calendar year; andCommentsClose CommentsPermalink





(ii) the ratio that--CommentsClose CommentsPermalink





(I) 6,000,000,000 gallons of clean coal-derived fuel; bears toCommentsClose CommentsPermalink





(II) the number of gallons of covered fuel sold or introduced into commerce in calendar year 2022.CommentsClose CommentsPermalink





(b) Applicable Percentages-CommentsClose CommentsPermalink





(1) PROVISION OF ESTIMATE OF VOLUMES OF CERTAIN FUEL SALES- Not later than October 31 of each of calendar years 2015 through 2021, the Administrator of the Energy Information Administration shall provide to the President an estimate, with respect to the following calendar year, of the volumes of covered fuel projected to be sold or introduced into commerce in the United States.CommentsClose CommentsPermalink





(2) DETERMINATION OF APPLICABLE PERCENTAGES-CommentsClose CommentsPermalink





(A) IN GENERAL- Not later than November 30 of each of calendar years 2015 through 2022, based on the estimate provided under paragraph (1), the President shall determine and publish in the Federal Register, with respect to the following calendar year, the clean coal-derived fuel obligation that ensures that the requirements of subsection (a) are met.CommentsClose CommentsPermalink





(B) REQUIRED ELEMENTS- The clean coal-derived fuel obligation determined for a calendar year under subparagraph (A) shall--CommentsClose CommentsPermalink





(i) be applicable to refineries, blenders, and importers, as appropriate;CommentsClose CommentsPermalink





(ii) be expressed in terms of a volume percentage of covered fuel sold or introduced into commerce in the United States; andCommentsClose CommentsPermalink





(iii) subject to paragraph (3)(A), consist of a single applicable percentage that applies to all categories of persons specified in clause (i).CommentsClose CommentsPermalink





(3) ADJUSTMENTS- In determining the applicable percentage for a calendar year, the President shall make adjustments--CommentsClose CommentsPermalink





(A) to prevent the imposition of redundant obligations on any person specified in paragraph (2)(B)(i); andCommentsClose CommentsPermalink





(B) to account for the use of clean coal-derived fuel during the previous calendar year by small refineries that are exempt under subsection (f).CommentsClose CommentsPermalink





(c) Volume Conversion Factors for Clean Coal-Derived Fuels Based on Energy Content-CommentsClose CommentsPermalink





(1) IN GENERAL- For the purpose of subsection (a), the President shall assign values to specific types of clean coal-derived fuel for the purpose of satisfying the fuel volume requirements of subsection (a)(4) in accordance with this subsection.CommentsClose CommentsPermalink





(2) ENERGY CONTENT RELATIVE TO DIESEL FUEL- For clean coal-derived fuels, 1 gallon of the clean coal-derived fuel shall be considered to be the equivalent of 1 gallon of diesel fuel multiplied by the ratio that--CommentsClose CommentsPermalink





(A) the number of British thermal units of energy produced by the combustion of 1 gallon of the clean coal-derived fuel (as measured under conditions determined by the Secretary); bears toCommentsClose CommentsPermalink





(B) the number of British thermal units of energy produced by the combustion of 1 gallon of diesel fuel (as measured under conditions determined by the Secretary to be comparable to conditions described in subparagraph (A)).CommentsClose CommentsPermalink





(d) Credit Program-CommentsClose CommentsPermalink





(1) IN GENERAL- The President, in consultation with the Secretary and the Administrator of the Environmental Protection Agency, shall implement a credit program to manage the clean coal-derived fuel requirement of this section in a manner consistent with the credit program established by the amendment made by section 1501(a)(2) of the Energy Policy Act of 2005 (Public Law 109-58; 119 Stat. 1067).CommentsClose CommentsPermalink





(2) MARKET TRANSPARENCY- In carrying out the credit program under this subsection, the President shall facilitate price transparency in markets for the sale and trade of credits, with due regard for the public interest, the integrity of those markets, fair competition, and the protection of consumers.CommentsClose CommentsPermalink





(e) Waivers-CommentsClose CommentsPermalink





(1) IN GENERAL- The President, in consultation with the Secretary and the Administrator of the Environmental Protection Agency, may waive the requirements of subsection (a) in whole or in part on petition by 1 or more States by reducing the national quantity of clean coal-derived fuel required under subsection (a), based on a determination by the President (after public notice and opportunity for comment), that--CommentsClose CommentsPermalink





(A) implementation of the requirement would severely harm the economy or environment of a State, a region, or the United States; orCommentsClose CommentsPermalink





(B) extreme and unusual circumstances exist that prevent distribution of an adequate supply of domestically-produced clean coal-derived fuel to consumers in the United States.CommentsClose CommentsPermalink





(2) PETITIONS FOR WAIVERS- The President, in consultation with the Secretary and the Administrator of the Environmental Protection Agency, shall approve or disapprove a State petition for a waiver of the requirements of subsection (a) within 90 days after the date on which the petition is received by the President.CommentsClose CommentsPermalink





(3) TERMINATION OF WAIVERS- A waiver granted under paragraph (1) shall terminate after 1 year, but may be renewed by the President after consultation with the Secretary and the Administrator of the Environmental Protection Agency.CommentsClose CommentsPermalink





(f) Small Refineries-CommentsClose CommentsPermalink





(1) TEMPORARY EXEMPTION-CommentsClose CommentsPermalink





(A) IN GENERAL- The requirements of subsection (a) shall not apply to small refineries until calendar year 2018.CommentsClose CommentsPermalink





(B) EXTENSION OF EXEMPTION-CommentsClose CommentsPermalink





(i) STUDY BY SECRETARY- Not later than December 31, 2013, the Secretary shall submit to the President and Congress a report describing the results of a study to determine whether compliance with the requirements of subsection (a) would impose a disproportionate economic hardship on small refineries.CommentsClose CommentsPermalink





(ii) EXTENSION OF EXEMPTION- In the case of a small refinery that the Secretary determines under clause (i) would be subject to a disproportionate economic hardship if required to comply with subsection (a), the President shall extend the exemption under subparagraph (A) for the small refinery for a period of not less than 2 additional years.CommentsClose CommentsPermalink





(2) PETITIONS BASED ON DISPROPORTIONATE ECONOMIC HARDSHIP-CommentsClose CommentsPermalink





(A) EXTENSION OF EXEMPTION- A small refinery may at any time petition the President for an extension of the exemption under paragraph (1) for the reason of disproportionate economic hardship.CommentsClose CommentsPermalink





(B) EVALUATION OF PETITIONS- In evaluating a petition under subparagraph (A), the President, in consultation with the Secretary, shall consider the findings of the study under paragraph (1)(B) and other economic factors.CommentsClose CommentsPermalink





(C) DEADLINE FOR ACTION ON PETITIONS- The President shall act on any petition submitted by a small refinery for a hardship exemption not later than 90 days after the date of receipt of the petition.CommentsClose CommentsPermalink





(3) OPT-IN FOR SMALL REFINERIES- A small refinery shall be subject to the requirements of subsection (a) if the small refinery notifies the President that the small refinery waives the exemption under paragraph (1).CommentsClose CommentsPermalink





(g) Penalties and Enforcement-CommentsClose CommentsPermalink





(1) CIVIL PENALTIES-CommentsClose CommentsPermalink





(A) IN GENERAL- Any person that violates a regulation promulgated under subsection (a), or that fails to furnish any information required under such a regulation, shall be liable to the United States for a civil penalty of not more than the total of--CommentsClose CommentsPermalink





(i) $25,000 for each day of the violation; andCommentsClose CommentsPermalink





(ii) the amount of economic benefit or savings received by the person resulting from the violation, as determined by the President.CommentsClose CommentsPermalink





(B) COLLECTION- Civil penalties under subparagraph (A) shall be assessed by, and collected in a civil action brought by, the Secretary or such other officer of the United States as is designated by the President.CommentsClose CommentsPermalink





(2) INJUNCTIVE AUTHORITY-CommentsClose CommentsPermalink





(A) IN GENERAL- The district courts of the United States shall have jurisdiction to--CommentsClose CommentsPermalink





(i) restrain a violation of a regulation promulgated under subsection (a);CommentsClose CommentsPermalink





(ii) award other appropriate relief; andCommentsClose CommentsPermalink





(iii) compel the furnishing of information required under the regulation.CommentsClose CommentsPermalink





(B) ACTIONS- An action to restrain such violations and compel such actions shall be brought by and in the name of the United States.CommentsClose CommentsPermalink





(C) SUBPOENAS- In the action, a subpoena for a witness who is required to attend a district court in any district may apply in any other district.CommentsClose CommentsPermalink





(h) Effective Date- Except as otherwise specifically provided in this section, this section takes effect on January 1, 2016.CommentsClose CommentsPermalink

Subtitle C--Nuclear EnergyCommentsClose CommentsPermalink

SEC. 221. 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:CommentsClose CommentsPermalink





‘(6) PROJECT COST-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘project cost’ means any cost associated with the development, planning, design, engineering, permitting and licensing, construction, commissioning, start-up, shakedown, and financing of a facility.CommentsClose CommentsPermalink





‘(B) INCLUSIONS- The term ‘project cost’ includes--CommentsClose CommentsPermalink





‘(i) reasonable escalation and contingencies;CommentsClose CommentsPermalink





‘(ii) the cost of and fees for a guarantee;CommentsClose CommentsPermalink





‘(iii) reasonably required reserve funds;CommentsClose CommentsPermalink





‘(iv) initial working capital; andCommentsClose CommentsPermalink





‘(v) interest accrued during construction.’.CommentsClose CommentsPermalink





(b) Terms and Conditions; Amount- Section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512) is amended by striking subsections (b) and (c) and inserting the following:CommentsClose CommentsPermalink





‘(b) Specific Appropriation or Contribution-CommentsClose CommentsPermalink





‘(1) IN GENERAL- No guarantee shall be made unless--CommentsClose CommentsPermalink





‘(A) the Secretary has received from the borrower and deposited in the Treasury a payment in full for the cost of the obligation;CommentsClose CommentsPermalink





‘(B) an appropriation for the cost has been made in lieu of a payment being made; orCommentsClose CommentsPermalink





‘(C) a combination of actions described in subparagraphs (A) and (B) has been carried out such that, when combined, the actions are sufficient to cover the cost of the obligation.CommentsClose CommentsPermalink





‘(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).CommentsClose CommentsPermalink





‘(c) Amount- -CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.’.CommentsClose CommentsPermalink





(c) 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:CommentsClose CommentsPermalink





‘(2) AVAILABILITY- Fees collected under this subsection shall--CommentsClose CommentsPermalink





‘(A) be deposited by the Secretary into a special fund in the Treasury, to be known as the ‘Incentives For Innovative Technologies Fund’; andCommentsClose CommentsPermalink





‘(B) remain available to the Secretary for expenditure, without further appropriation or fiscal year limitation, for administrative expenses incurred in carrying out this title.’.CommentsClose CommentsPermalink





(d) Report to Congress- Section 1702 of the Energy Policy Act of 2005 (42 U.S.C. 16512) is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(k) Report to Congress-CommentsClose CommentsPermalink





‘(1) IN GENERAL- Not later than 1 year after the date of enactment of this subsection and annually thereafter, the Secretary shall submit to Congress a report that summarizes the applications for loan guarantees received, loan guarantees approved and rejected, and justifications for rejections of loan guarantees, under this title.CommentsClose CommentsPermalink





‘(2) TERMINATION OF AUTHORITY- Beginning with fiscal year 2018, the Secretary shall provide, in the annual report submitted for each fiscal year under paragraph (1), a recommendation on whether all or part of the loan guarantee program under this title should be terminated.’.CommentsClose CommentsPermalink

SEC. 222. AUTHORIZATION FOR NUCLEAR POWER 2010 PROGRAM.

Section 952 of the Energy Policy Act of 2005 (42 U.S.C. 16272) is amended by striking subsection (c) and inserting the following:CommentsClose CommentsPermalink





‘(c) Nuclear Power 2010 Program-CommentsClose CommentsPermalink





‘(1) IN GENERAL- The Secretary shall carry out a Nuclear Power 2010 Program to position the United States to commence construction of new nuclear power plants by not later than--CommentsClose CommentsPermalink





‘(A) calendar year 2010; orCommentsClose CommentsPermalink





‘(B) such first calendar year after calendar year 2010 as is practicable.CommentsClose CommentsPermalink





‘(2) SCOPE OF PROGRAM- The Nuclear Power 2010 Program shall support the objectives of--CommentsClose CommentsPermalink





‘(A) demonstrating the licensing process for new nuclear power plants, including the Nuclear Regulatory Commission process for obtaining--CommentsClose CommentsPermalink





‘(i) early site permits;CommentsClose CommentsPermalink





‘(ii) combined construction or operating licenses; andCommentsClose CommentsPermalink





‘(iii) design certifications; andCommentsClose CommentsPermalink





‘(B) conducting first-of-a-kind design and engineering work on at least 2 advanced nuclear reactor designs sufficient to bring those designs to a state of design completion sufficient to allow development of firm cost estimates.CommentsClose CommentsPermalink





‘(3) COST-SHARING- The Nuclear Power 2010 Program shall be carried out through the use of cost-sharing with the private sector.CommentsClose CommentsPermalink





‘(4) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated to the Secretary to carry out the Nuclear Power 2010 Program--CommentsClose CommentsPermalink





‘(A) $182,800,000 for fiscal year 2009;CommentsClose CommentsPermalink





‘(B) $159,600,000 for fiscal year 2010;CommentsClose CommentsPermalink





‘(C) $135,600,000 for fiscal year 2011;CommentsClose CommentsPermalink





‘(D) $46,900,000 for fiscal year 2012; andCommentsClose CommentsPermalink





‘(E) $2,200,000 for fiscal year 2013.’.CommentsClose CommentsPermalink

SEC. 223. DOMESTIC MANUFACTURING BASE FOR NUCLEAR COMPONENTS AND EQUIPMENT.

(a) Establishment of Interagency Working Group-CommentsClose CommentsPermalink





(1) PURPOSES- The purposes of this section are--CommentsClose CommentsPermalink





(A) to increase the competitiveness of the United States nuclear energy products and services industries;CommentsClose CommentsPermalink





(B) to identify the stimulus or incentives necessary to cause United States manufacturers of nuclear energy products to expand manufacturing capacity;CommentsClose CommentsPermalink





(C) to facilitate the export of United States nuclear energy products and services;CommentsClose CommentsPermalink





(D) to reduce the trade deficit of the United States through the export of United States nuclear energy products and services;CommentsClose CommentsPermalink





(E) to retain and create nuclear energy manufacturing and related service jobs in the United States;CommentsClose CommentsPermalink





(F) to integrate the objectives described in subparagraphs (A) through (E), in a manner consistent with the interests of the United States, into the foreign policy of the United States; andCommentsClose CommentsPermalink





(G) to authorize funds for increasing United States capacity to manufacture nuclear energy products and supply nuclear energy services.CommentsClose CommentsPermalink





(2) ESTABLISHMENT-CommentsClose CommentsPermalink





(A) IN GENERAL- There is established an interagency working group (referred to in this section as the ‘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.CommentsClose CommentsPermalink





(B) COMPOSITION- The Working Group shall be composed of--CommentsClose CommentsPermalink





(i) the Secretary (or a designee), who shall serve as Chairperson of the Working Group; andCommentsClose CommentsPermalink





(ii) representatives, appointed by the head of each applicable agency or department, of--CommentsClose CommentsPermalink





(I) the Department of Energy;CommentsClose CommentsPermalink





(II) the Department of Commerce;CommentsClose CommentsPermalink





(III) the Department of Defense;CommentsClose CommentsPermalink





(IV) the Department of Treasury;CommentsClose CommentsPermalink





(V) the Department of State;CommentsClose CommentsPermalink





(VI) the Environmental Protection Agency;CommentsClose CommentsPermalink





(VII) the United States Agency for International Development;CommentsClose CommentsPermalink





(VIII) the Export-Import Bank of the United States;CommentsClose CommentsPermalink





(IX) the Trade and Development Agency;CommentsClose CommentsPermalink





(X) the Small Business Administration;CommentsClose CommentsPermalink





(XI) the Office of the United States Trade Representative; andCommentsClose CommentsPermalink





(XII) other Federal agencies, as determined by the President.CommentsClose CommentsPermalink





(3) DUTIES OF WORKING GROUP- The Working Group shall--CommentsClose CommentsPermalink





(A) not later than 180 days after the date of enactment of this Act, identify the actions necessary to promote the safe development and application in foreign countries of nuclear energy products and services--CommentsClose CommentsPermalink





(i) to increase electricity generation from nuclear energy sources through development of new generation facilities;CommentsClose CommentsPermalink





(ii) to improve the efficiency, safety, and reliability of existing nuclear generating facilities through modifications; andCommentsClose CommentsPermalink





(iii) enhance the safe treatment, handling, storage, and disposal of used nuclear fuel;CommentsClose CommentsPermalink





(B) not later than 180 days after the date of enactment of this Act, identify--CommentsClose CommentsPermalink





(i) mechanisms (including tax stimuli for investment, loans and loan guarantees, and grants) necessary for United States companies to increase--CommentsClose CommentsPermalink





(I) the capacity of the companies to produce or provide nuclear energy products and services; andCommentsClose CommentsPermalink





(II) exports of nuclear energy products and services; andCommentsClose CommentsPermalink





(ii) administrative or legislative initiatives that are necessary--CommentsClose CommentsPermalink





(I) to encourage United States companies to increase the manufacturing capacity of the companies for nuclear energy products;CommentsClose CommentsPermalink





(II) to 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;CommentsClose CommentsPermalink





(III) to encourage, through financial incentives, private sector capital investment to expand manufacturing capacity; andCommentsClose CommentsPermalink





(IV) to 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;CommentsClose CommentsPermalink





(C) not later than 270 days after the date of enactment of this Act, submit to Congress a report that describes the findings of the Working Group under subparagraphs (A) and (B), including recommendations for new legislative authority, as necessary; andCommentsClose CommentsPermalink





(D) encourage the agencies represented by membership in the Working Group--CommentsClose CommentsPermalink





(i) to provide technical training and education for international development personnel and local users in other countries;CommentsClose CommentsPermalink





(ii) to 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;CommentsClose CommentsPermalink





(iii) to develop nuclear energy projects in foreign countries;CommentsClose CommentsPermalink





(iv) to 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;CommentsClose CommentsPermalink





(v) to 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; andCommentsClose CommentsPermalink





(vi) to augment budgets for trade and development programs in order to support prefeasibility or feasibility studies for projects that use nuclear energy products and services.CommentsClose CommentsPermalink





(4) PERSONNEL AND SERVICE MATTERS- The Secretary and the heads of agencies represented by membership in the Working Group shall detail such personnel and furnish such services to the Working Group, with or without reimbursement, as are necessary to carry out the functions of the Working Group.CommentsClose CommentsPermalink





(5) AUTHORIZATION OF APPROPRIATIONS- There is authorized to be appropriated to the Secretary to carry out this subsection $20,000,000 for each of fiscal years 2009 and 2010.CommentsClose CommentsPermalink





(b) Credit for Qualifying Nuclear Power Manufacturing-CommentsClose CommentsPermalink





(1) 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:CommentsClose CommentsPermalink

‘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.CommentsClose CommentsPermalink





‘(b) Qualified Investment-CommentsClose CommentsPermalink





‘(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--CommentsClose CommentsPermalink





‘(A) which is either part of a qualifying nuclear power manufacturing project or is qualifying nuclear power manufacturing equipment;CommentsClose CommentsPermalink





‘(B)(i) the construction, reconstruction, or erection of which is completed by the taxpayer; orCommentsClose CommentsPermalink





‘(ii) which is acquired by the taxpayer if the original use of such property commences with the taxpayer;CommentsClose CommentsPermalink





‘(C) with respect to which depreciation (or amortization in lieu of depreciation) is allowable; andCommentsClose CommentsPermalink





‘(D) which is placed in service on or before December 31, 2015.CommentsClose CommentsPermalink





‘(2) SPECIAL RULE FOR CERTAIN SUBSIDIZED PROPERTY- Rules similar to section 48(a)(4) shall apply for purposes of this section.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(c) Definitions- For purposes of this section:CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(3) PROJECT- The term ‘project’ includes any building constructed to house qualifying nuclear power manufacturing equipment.’.CommentsClose CommentsPermalink





(2) CONFORMING AMENDMENTS-CommentsClose CommentsPermalink





(A) ADDITIONAL INVESTMENT CREDIT- Section 46 of such Code is amended by--CommentsClose CommentsPermalink





(i) striking ‘and’ at the end of paragraph (3);CommentsClose CommentsPermalink





(ii) striking the period at the end of paragraph (4) and inserting ‘, and’; andCommentsClose CommentsPermalink





(iii) inserting after paragraph (4) the following new paragraph:CommentsClose CommentsPermalink





‘(5) the qualifying nuclear power manufacturing credit.’.CommentsClose CommentsPermalink





(B) APPLICATION OF SECTION 49- Subparagraph (C) of section 49(a)(1) of such Code is amended by--CommentsClose CommentsPermalink





(i) striking ‘and’ at the end of clause (iii);CommentsClose CommentsPermalink





(ii) striking the period at the end of clause (iv) and inserting ‘, and’; andCommentsClose CommentsPermalink





(iii) inserting after clause (iv) the following new clause:CommentsClose CommentsPermalink





‘(v) the basis of any property which is part of a qualifying nuclear power equipment manufacturing project under section 48C.’.CommentsClose CommentsPermalink





(C) TABLE OF SECTIONS- The table of sections for such subpart E is amended by inserting after the item relating to section 48B the following new item:CommentsClose CommentsPermalink





‘Sec. 48C. Qualifying nuclear power manufacturing credit.’.CommentsClose CommentsPermalink





(c) Effective Date- The amendments made by this section shall apply to property--CommentsClose CommentsPermalink





(1) the construction, reconstruction, or erection of which of began after the date of enactment of this Act, orCommentsClose CommentsPermalink





(2) which was acquired by the taxpayer on or after the date of enactment of this Act and not pursuant to a binding contract which was in effect on the day prior to the date of enactment.CommentsClose CommentsPermalink

SEC. 224. NUCLEAR ENERGY WORKFORCE.

Section 1101 of the Energy Policy Act of 2005 (42 U.S.C. 16411) is amended--CommentsClose CommentsPermalink





(1) by redesignating subsection (d) as subsection (e); andCommentsClose CommentsPermalink





(2) by inserting after subsection (c) the following:CommentsClose CommentsPermalink





‘(d) Workforce Training-CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(3) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated to the Secretary of Labor, in coordination with the Secretary of Education and the Secretary of Energy, to carry out this subsection $20,000,000 for each of fiscal years 2009 through 2012.’.CommentsClose CommentsPermalink

SEC. 225. 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 title, is amended by--CommentsClose CommentsPermalink





(1) striking ‘and’ at the end of paragraph (4);CommentsClose CommentsPermalink





(2) striking the period at the end of paragraph (5) and inserting ‘, and’; andCommentsClose CommentsPermalink





(3) inserting after paragraph (5) the following new paragraph:CommentsClose CommentsPermalink





‘(5) the nuclear power facility construction credit.’.CommentsClose CommentsPermalink





(b) Nuclear Power Facility Construction Credit- Subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986, as amended by this title, is amended by inserting after section 48C the following new section:CommentsClose CommentsPermalink

‘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.CommentsClose CommentsPermalink





‘(b) When Expenditures Taken Into Account-CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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).CommentsClose CommentsPermalink





‘(c) Progress Expenditures-CommentsClose CommentsPermalink





‘(1) IN GENERAL- A taxpayer may elect to take into account qualified nuclear power facility expenditures-CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(2) SPECIAL RULES FOR APPLYING PARAGRAPH (1)- For purposes of paragraph (1)-CommentsClose CommentsPermalink





‘(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);CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(C) LIMITATION FOR FACILITIES OR COMPONENTS WHICH ARE NOT SELF-CONSTRUCTED-CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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--CommentsClose CommentsPermalink





‘(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; orCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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--CommentsClose CommentsPermalink





‘(i) the taxable year in which the facility is placed in service; orCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(3) SELF-CONSTRUCTED- For purposes of this subsection-CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(d) Definitions and Special Rules- For purposes of this section-CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(2) QUALIFIED NUCLEAR POWER FACILITY EXPENDITURES-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘qualified nuclear power facility expenditures’ means any amount properly chargeable to capital account--CommentsClose CommentsPermalink





‘(i) with respect to a qualified nuclear power facility;CommentsClose CommentsPermalink





‘(ii) for which depreciation is allowable under section 168; andCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(B) PRE-EFFECTIVE DATE EXPENDITURES- Qualified nuclear power facility expenditures do not include any expenditures incurred by the taxpayer before January 1, 2007, 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.CommentsClose CommentsPermalink





‘(3) DELAYS AND SUSPENSION OF CONSTRUCTION-CommentsClose CommentsPermalink





‘(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--CommentsClose CommentsPermalink





‘(i) the date on which the taxpayer decides to terminate construction of the facility; orCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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--CommentsClose CommentsPermalink





‘(i) the date work is subsequently resumed shall be treated as the date that construction began for purposes of paragraph (1); andCommentsClose CommentsPermalink





‘(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.’.CommentsClose CommentsPermalink





(c) Provisions Relating to Credit Recapture-CommentsClose CommentsPermalink





(1) PROGRESS EXPENDITURE RECAPTURE RULES-CommentsClose CommentsPermalink





(A) BASIC RULES- Subparagraph (A) of section 50(a)(2) of the Internal Revenue Code of 1986 is amended to read as follows:CommentsClose CommentsPermalink





‘(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, 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.’.CommentsClose CommentsPermalink





(B) AMENDMENT TO EXCESS CREDIT RECAPTURE RULE- Subparagraph (B) of section 50(a)(2) of such Code is amended by--CommentsClose CommentsPermalink





(i) inserting ‘or paragraph (2) of section 48D(b)’ after ‘paragraph (2) of section 47(b)’;CommentsClose CommentsPermalink





(ii) inserting ‘or section 48D(b)(1)’ after ‘section 47(b)(1)’; andCommentsClose CommentsPermalink





(iii) inserting ‘or facility’ after ‘building’.CommentsClose CommentsPermalink





(C) AMENDMENT OF SALE AND LEASEBACK RULE- Subparagraph (C) of section 50(a)(2) of such Code is amended by--CommentsClose CommentsPermalink





(i) inserting ‘or section 48D(c)’ after ‘section 47(d)’; andCommentsClose CommentsPermalink





(ii) inserting ‘or qualified nuclear power facility expenditures’ after ‘qualified rehabilitation expenditures’.CommentsClose CommentsPermalink





(D) OTHER AMENDMENT- Subparagraph (D) of section 50(a)(2) of such Code is amended by inserting ‘or section 48D(c)’ after ‘section 47(d)’.CommentsClose CommentsPermalink





(d) No Basis Adjustment- Section 50(c) of the Internal Revenue Code of 1986 is amended by inserting at the end thereof the following new paragraph:CommentsClose CommentsPermalink





‘(6) NUCLEAR POWER FACILITY CONSTRUCTION CREDIT- Paragraphs (1) and (2) shall not apply to the nuclear power facility construction credit.’.CommentsClose CommentsPermalink





(e) Technical Amendments- The table of sections for subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986, as amended by this subtitle, is amended by inserting after the item relating to section 48C the following new item:CommentsClose CommentsPermalink





‘Sec. 48D. Nuclear power facility construction credit.’.CommentsClose CommentsPermalink





(f) Effective Date- The amendments made by this section shall be effective for expenditures incurred and property placed in service in taxable years beginning after the date of enactment of this Act.CommentsClose CommentsPermalink