II
110th CONGRESS
1st Session
S. 298
IN THE SENATE OF THE UNITED STATES
January 16, 2007
Ms. Murkowski (for herself and Mr. Stevens) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To provide incentives for renewable energy production, to increase fuel economy standards for automobiles, and to provide tax incentives for renewable energy production.
Short title
This Act may be cited as the
Renewable Energy, Fuel Reduction, and
Economic Stabilization and EnHancement Act of 2007
or the
REFRESH
Act
.
Renewable energy incentives
Geothermal power
In general
The Secretary of Energy, acting through the
Office of Energy Efficiency and Renewable Energy (referred to in this title as
the Secretary
), shall make grants to eligible entities (as
determined by the Secretary) to promote geothermal power development, including
high- and low-temperature geothermal power development.
Authorization of appropriations
There is authorized to be appropriated to carry out this section $100,000,000.
Ocean energy
In general
The Secretary shall make grants to eligible entities (as determined by the Secretary) to develop all forms of ocean energy (including wave, current, tidal, and thermal energy).
Authorization of appropriations
There is authorized to be appropriated to carry out this section $100,000,000.
Plug-in hybrid electric-combustion engine vehicles
In general
The Secretary shall make grants to eligible entities (as determined by the Secretary) to assist in the development of new technology (including storage batteries or other forms of technology) to assist automobile manufactures in the production of plug-in hybrid electric-combustion engine vehicles.
Authorization of appropriations
There is authorized to be appropriated to carry out this section $100,000,000.
Fuel efficiency standards
Truth in testing of CAFE standards
Testing and calculation procedures
In general
Section 32904(c) of title 49, United States
Code, is amended by striking However, except under section 32908 of this
title, the Administrator shall use the same procedures for passenger
automobiles the Administrator used for model year 1975 (weighted 55 percent
urban cycle and 45 percent highway cycle),
and insert In
measuring fuel economy under this subsection, the Administrator shall use the
procedures described in the final rule relating to fuel economy labeling
published in the Federal Register on December 27, 2006 (71 Fed. Reg. 77,872; to
be codified at 40 C.F.R. parts 86 and 600)
.
Effective date
Paragraph (1) shall take effect on the date that is 5 years after the date of the enactment of this Act and shall apply to passenger automobiles manufactured after such date.
Study and report
Study
The Administrator of the National Highway Traffic Safety Administration shall conduct a study of the anticipated economic impacts and fuel saving benefits that would result from a requirement that all vehicles manufactured for sale in the United States with a gross vehicle weight of not less than 10,000 pounds meet specific average fuel economy standards.
Report
Not later than 2 years after the date of the enactment of this Act, the Administrator shall submit a report to Congress that includes—
the results of the study conducted under paragraph (1); and
a recommendation on whether the vehicles described in paragraph (1) should be subject to average fuel economy standards.
Tire resistance standards
Section 30123 of title 49, United States Code, is amended by adding at the end the following:
Low rolling resistance tires
Not later than 5 years after the date of the enactment of this subsection, all passenger automobile tires sold in the United States shall meet the low rolling resistance standards prescribed by the Administrator of the National Highway Traffic Safety Administration.
.
Traffic reduction grants
In general
The Secretary of Transportation may award grants to States to develop telecommuting and flexible work scheduling incentives that will reduce traffic congestion in urban areas.
Authorization of appropriations
There are authorized to be appropriated $50,000,000 for fiscal year 2008 to carry out the grant program established under this section. Any sums appropriated pursuant to this subsection shall remain available until expended.
Tax credits
Expansion of credit for production of energy from certain renewable resources
Expansion of resources to wave, current, tidal, and ocean thermal energy
In general
Section 45(c)(1) of the Internal Revenue
Code of 1986 (defining qualified energy resources) is amended by striking
and
at the end of subparagraph (G), by striking the period at
the end of subparagraph (H) and inserting , and
, and by adding
at the end the following new subparagraph:
wave, current, tidal, and ocean thermal energy.
Definition of resources
Section 45(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
Wave, current, tidal, and ocean thermal energy
The term wave, current, tidal, and ocean thermal energy means electricity produced from any of the following:
Free flowing ocean water derived from tidal currents, ocean currents, waves, or estuary currents.
Ocean thermal energy.
Free flowing water in rivers, lakes, man made channels, or streams.
Facilities
Section 45(d) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
Wave, current, tidal, and ocean thermal facility
In the case of a facility using resources described in clause (i), (ii), or (iii) of subsection (c)(10)(A) to produce electricity, the term qualified facility means any facility owned by the taxpayer which is originally placed in service after the date of the enactment of this paragraph and before January 1, 2009, but such term shall not include a facility which includes impoundment structures or a small irrigation power facility.
Expansion of small irrigation power
Paragraph (5) of section 45(c) of the Internal Revenue Code of 1986 is amended to read as follows:
Small irrigation power
The term small irrigation power means power—
generated without any dam or impoundment of water through—
through an irrigation system canal or ditch, or
utilizing lake taps, perched alpine lakes, or run-of-river with diversion, and
the nameplate capacity rating of which is less than 15 megawatts.
.
Effective date
The amendments made by this section shall apply to electricity produced in taxable years ending after the date of the enactment of this Act.
Extension and modification of new qualified hybrid motor vehicle credit for plug-in hybrids
Extension
New qualified hybrid passenger automobiles and light trucks
Paragraph
(2) of section 30B(j) of the Internal Revenue Code of 1986 is amended by
inserting (December 31, 2012, in the case of a new qualified hybrid
motor vehicle which is recharged by means of an off board device)
after
December 31, 2010
.
Other qualified hybrid motor vehicles
Paragraph (3) of
section 30B(j) of the Internal Revenue Code of 1986 is amended by inserting
(December 31, 2012, in the case of a new qualified hybrid motor vehicle
which is recharged by means of an off board device)
after
December 31, 2009
.
Elimination of limitation on number of new qualified hybrid and advanced lean burn technology vehicles eligible for full alternative motor vehicle tax credit
In general
Section 30B of the Internal Revenue Code of 1986 is amended—
by striking subsection (f); and
by redesignating subsections (g) through (j), as amended by subsection (a), as subsections (f) through (i), respectively.
Conforming amendments
Paragraphs (4) and (6) of section 30B(g) of
such Code, as redesignated by paragraph (1)(B), are each amended by striking
(determined without regard to subsection (g))
and inserting
(determined without regard to subsection (f))
.
Section 38(b)(25) of such Code is amended
by striking section 30B(g)(1)
and inserting section
30B(f)(1)
.
Section 55(c)(2) of such Code is amended by
striking section 30B(g)(2)
and inserting section
30B(f)(2)
.
Section 1016(a)(36) of such Code is amended
by striking section 30B(h)(4)
and inserting section
30B(g)(4)
.
Section 6501(m) of such Code is amended by
striking section 30B(h)(9)
and inserting section
30B(g)(9)
.
Effective date
The amendments made by this section shall apply to property placed in service after December 31, 2005, in taxable years ending after such date.