H.R. 6383, The Alternative Energy Advancement Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 6383 would make available for research and development of alternative energy certain revenue received by the United States for all future oil and gas leases.

Detailed Summary

Alternative Energy Advancement Act - Establishes in the Treasury a Trust Fund for deposit of all amounts received by the United States as bonus bids, rents, royalties under leases for exploration, development, and production of oil and gas awarded after enactment of this Act for any area of federal lands or of federal submerged lands of the outer Continental Shelf that, on the enactment of this Act, are withdrawn from such leasing or for which the expenditure of federal funds for such leasing is prohibited.

Status of the Legislation

Latest Major Action: 7/14/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on Energy and Environment.

Points in Favor

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Points Against

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