S. 2940, The Green Energy Production 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• This item is from the 110th Congress (2007-2008) and is no longer current.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.

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S. 2940 would promote green energy production.

Detailed Summary

Green Energy Production Act of 2008 - Requires the Secretary of Energy to establish a green technology investment program to develop high-tech green research capabilities, promote green innovation and green energy investment, and increase scientific knowledge that may reveal the basis for new or enhanced products, equipment, or processes in target areas.

Establishes in the Department of Energy the Green Technology Investment Corporation to allocate funds, provide grants, and carry out component programs for all phases of technology commercialization. Requires the Corporation to establish: (1) a green development loan program for green technology investment; (2) a green markets grant program; (3) a green redevelopment, opportunity, and workforce grant program; (4) a green energy manufacturing loan program; (5) a green energy community pilot program; (6) a green energy institution of higher education pilot program; (7) a National Guard base green energy grant pilot program; (8) a green energy technology internship program; and (9) a green energy technology apprenticeship program.

Establishes in the Treasury the Green Technology Investment Fund to provide grants, loans, and assistance under this Act.

Requires the Secretary of Energy to establish an energy efficiency grant program.

Sets forth provisions concerning: (1) a project's eligibility for grants, loans, and assistance; and (2) grant priorities.

Status of the Legislation

Latest Major Action: 4/30/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Energy and Natural Resources.

Points in Favor

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Points Against

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