S.Amdt. 1473

SA 1473. Mr. INHOFE (for himself, Mr. Toomey, Mrs. Capito, and Mr.
Cruz) submitted an amendment intended to be proposed to amendment SA
1407 submitted by Ms. Murkowski and intended to be proposed to the bill
S. 2657, to support innovation in advanced geothermal research and
development, and for other purposes; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. ___. RENEWABLE FUEL PROGRAM.

(a) Sense of Congress.--It is the sense of Congress that
the Administrator of the Environmental Protection Agency has
the existing authority under the Clean Air Act (42 U.S.C.
7401 et seq.) to issue waiver credits to reduce the burden on
obligated parties under the renewable fuel program under
section 211(o) of that Act (42 U.S.C. 7545(o)).
(b) Sale of Conventional Biofuel Credits.--Section
211(o)(7) of the Clean Air Act (42 U.S.C. 7545(o)(7)) is
amended--
(1) by redesignating subparagraphs (E) and (F) as
subparagraphs (F) and (G), respectively; and
(2) by inserting after subparagraph (D) the following:
``(E) Conventional biofuel.--
``(i) In general.--The Administrator shall make available
for sale to obligated parties conventional biofuel credits at
10 cents per gallon.
``(ii) Requirements.--The regulations promulgated to carry
out clause (i)--

``(I) shall ensure that the credits made available for sale
under that clause are available at any time; and
``(II) shall not limit the number of conventional biofuel
credits made available in any calendar year''.

(c) Transfer of Revenue to Highway Trust Fund.--Section
9503(b) of the Internal Revenue Code of 1986 is amended by
redesignating paragraph (6) as paragraph (7) and by inserting
after paragraph (5) the following new paragraph:
``(6) Revenue from sale of conventional biofuel credits.--
There are hereby appropriated to the Highway Trust Fund
amounts equivalent to the revenues received from sales
described in section 211(o)(7)(E) of the Clean Air Act.''.
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