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New Options Petroleum Energy Conservation Act of 2007

Introduced: March 9, 2007 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 14, 2007
Referred to the Subcommittee on Energy and Environment.
Mar 12, 2007
Referred to the Subcommittee on Energy and Air Quality.
Mar 9, 2007
Referred to the Committee on Ways and Means, and in addition to the Committees on Science and Technology, and Energy and Commerce, 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.
Mar 9, 2007
Introduced in House
 Plain-English summary Congressional Research Service

New Options Petroleum Energy Conservation Act of 2007 - Amends the Internal Revenue Code to allow a tax credit for investment in a climate neutral combustion facility. Defines "climate neutral combustion facility" as any facility which: (1) burns matter to produce electricity; (2) captures and uses carbon dioxide released during combustion to recover hydrocarbon fuel; and (3) produces no emissions of mercury or greenhouse gasses and no emissions that form fine particulate, smog, or acid rain.

Extends through 2012 the tax credits for investment in solar energy property and for residential energy efficient property expenditures.

Directs the Secretary of Energy to establish a program to award $1 billion to the first U.S. automobile manufacturer who manufactures and sells in the United States 60,000 midsized sedans which operate on gasoline and can travel at 100 miles per gallon.

Authorizes appropriations for the development of advanced lithium ion battery technology.

Allows a taxpayer election to expense biofuel refining property.

What's happening now March 14, 2007

Referred to the Subcommittee on Energy and Environment.

 Committees of jurisdiction 5
 Cosponsors 1
All 1 Democratic 1