S.Amdt. 2807

SA 2807. Mr. MARKEY submitted an amendment intended to be proposed to
amendment SA 2360 proposed by Mr. Thune (for Mr. Graham) to the bill
H.R. 1, to provide for reconciliation pursuant to title II of H. Con.
Res. 14; which was ordered to lie on the table; as follows:

At the end of chapter 5 of subtitle A of title VII, insert
the following:

SEC. 705___. ENSURING THAT ELECTRICITY PRICES DO NOT
SUBSTANTIALLY INCREASE.

(a) In General.--On January 1 of the first calendar year
beginning after the date of enactment of this Act, and
annually thereafter, the Secretary of Energy shall make a
determination (based on information provided by the Energy
Information Administration) with respect to whether the
applicable amendments have resulted in an annual increase in
the average national electricity price of more than 3
percent.
(b) Sunset.--If the Secretary of Energy determines,
pursuant to subsection (a), that the applicable amendments
have resulted in an annual increase in the average national
electricity price described in such subsection--
(1) the applicable amendments shall be repealed, and the
Internal Revenue Code of 1986 shall be applied as if such
amendments had not been enacted, and
(2) with respect to any section of the Internal Revenue
Code of 1986 for which an applicable amendment was repealed
pursuant to paragraph (1), any termination provision which,
after application of such paragraph, is otherwise applicable
under such section shall be deemed to refer to the date on
which the Secretary of Energy determines that the annual
increase in the average national electricity price is less
than 3 percent.
(c) Applicable Amendments.--For purposes of this section,
the term ``applicable amendments'' means the amendments made
to the Internal Revenue Code of 1986 under--
(1) sections 70505 through 70508 of this Act, and
(2) section 70512 through 70515 of this Act.
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