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H.R.6155 - Renewable Investment and Consumer Protection Act

To establish and fund a Clean Energy Fund, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Renewable Investment and Consumer Protection Act as introduced.
  • Official: To establish and fund a Clean Energy Fund, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
05/22/08
 
 
 
 
 
 
 

Official Summary

Renewable Investment and Consumer Protection Act - Establishes in the Treasury a Clean Energy Fund, to which shall be appropriated an amount equivalent to the increase in revenues resulting from a tax imposed on each repurchase of outstanding shares of stock by a major integrated oil compan

Official Summary

Renewable Investment and Consumer Protection Act - Establishes in the Treasury a Clean Energy Fund, to which shall be appropriated an amount equivalent to the increase in revenues resulting from a tax imposed on each repurchase of outstanding shares of stock by a major integrated oil company pursuant to a stock buyback program.Appropriates amounts in the fund as follows:
(1) 60% to offset the cost of subsequent legislation to accelerate the use of clean domestic renewable energy resources and alternative fuels, promote energy efficiency and conservation, and increase research, development, and deployment of clean renewable energy and energy efficiency technologies; and
(2) 40% for carrying out the Low-Income Home Energy Assistance program.Amends the Internal Revenue Code to impose the oil company stock repurchase transaction tax.

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