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H.R. 6544, The Relief Now on the Road to Renewable Energy Act of 2008

  • This item is from the 110th Congress (2007-2008) and is no longer current.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.

Comparing revision saved on July 18, 2008, 19:30:21 (webmaster), with revision saved on October 23, 2008, 19:32:26 (webmaster):

H.R. 6544 would provide immediate relief from high fuel and food prices and to pursue alternatives in renewable energy.

== Detailed Summary ==

<summary>
(LogRelief Now on the Road to Renewable Energy Act of 2008 - Instructs the Secretary of the Treasury to promulgate certain tax regulations relating to election to expense certain refineries.

Provides for tax-exempt financing of domestic use oil refinery facilities.

Instructs the President to designate sites for oil or natural gas refineries on federal lands, including closed military installations.

Prohibits the Nuclear Regulatory Commission (NRC) from denying an application for a license or permit based upon either insufficient capacity or nonavailability for disposal of spent nuclear fuel or high-level radioactive waste.

Amends the Internal Revenue Code to: (1) modify the business-related credit for the American Society of Mechanical Engineers (ASME) nuclear component certification; (2) apply the tax credit for producing fuel from nonconventional sources to gas produced onshore from formations more than 15,000 feet deep; and (3) grant a tax credit for carbon dioxide captured from industrial sources and used as tertiary injectant
in enhanced oil and natural gas recovery.

Terminates congressional moratoria on oil and gas development on the Outer Continental Shelf (OCS).

American-Made Energy and Good Jobs Act - Sets forth an oil and gas leasing program on the Arctic Coastal Plain, that includes: (1) federal and state distribution of revenues; (2) rights-of-way across the Coastal Plain; and (3) local government impact aid and community service assistance.

Amends the Internal Revenue Code
to editprovide: (1) a tax deduction for certain commuting expenses of individuals; and (2) a tax credit for fuel expenses of truckers.

Coal-to-Liquid Fuel Promotion Act of 2008 - Amends
the wikiEnergy Policy Act of 2005 to instruct the Secretary of Energy to establish a coal-to-liquid facilities loan program.

Amends the Energy Policy
and beConservation Act to authorize the firstSecretary to: (1) construct storage facilities in the vicinity of pipeline infrastructure and at least one military base; and (2) acquire coal-to-liquid products for storage, transport, or exchange.

Authorizes appropriations for the Air Force Research Laboratory
to test and procure synthetic fuels developed from coal for aviation jet use.

Authorizes the Secretary of Defense to enter into agreements to develop and operate coal-to-liquid facilities on or near military installations.

Authorizes the Secretary of Energy to implement a program to evaluate emissions of Fischer-Tropsch products used as transportation fuel.

Amends the Internal Revenue Code to: (1)
provide a detailed summarytax credit for investment in coal-to-liquid fuels projects; (2) authorize taxpayer election to expense certain coal-to-liquid fuels facilities; (3) extend the alternative fuel credit for fuel derived from coal through the Fischer-Tropsch process; (4) provide enhanced credit for projects using qualified carbon dioxide; (5) prescribe special rules for enhanced oil, natural gas, and coalbed methane recovery, and the capture and sequestration credit against the alternative minimum tax; and (6) modify the tax credit for energy efficient vehicles.

Clean Energy Tax Stimulus Act
of 2008 - Amends the bill!)Internal Revenue Code to extend and modify the tax credit for: (1) renewable energy production, including solar energy and fuel cell investment; (2) residential energy efficient property; (3) clean renewable energy bonds; and (4) wind production.

Extends and modifies the tax credit for: (1) energy efficiency improvements to existing homes; (2) energy efficient new homes; (3) certain energy efficient appliances; and (4) energy efficient commercial buildings.

Sets forth an investment tax credit for oil shale extraction and processing using in-situ conversion technology.

Amends the Federal Land Policy and Management Act of 1976 to authorize the Secretary of the Interior to lease certain public lands for production of renewable biomass for biofuels.

</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 7/17/2008:8/4/2008: Referred to House committee.subcommittee. Status: Referred to the CommitteeSubcommittee on Ways and Means, and in addition to the Committees on Energy and Commerce, Natural Resources, Armed Services, and Science and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.Readiness.
</status>

<!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. -->

== Points in Favor ==

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== Points Against ==

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