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HR 6155 110th Congress House Energy Alternative energy sources Appropriations Commerce Economics and Public Finance Energy assistance for the poor Energy conservation Energy efficiency Energy research Excise tax Finance and Financial Sector Government trust funds Petroleum industry Product development Research and development Science, Technology, Communications Social Welfare Stock repurchasing Taxation

Renewable Investment and Consumer Protection Act

Introduced: May 22, 2008 Introduced by: Markey, Edward J. Democratic · Massachusetts 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
Jun 3, 2008
Referred to the Subcommittee on Energy and Environment.
May 23, 2008
Sponsor introductory remarks on measure. (CR E1088-1089)
May 22, 2008
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Science and Technology, and Education and Labor, 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.
May 22, 2008
Introduced in House
 Plain-English summary Congressional Research Service

Renewable Investment and Consumer Protection Act - Establishes in the Treasury a Clean Energy Fund, to which shall be appropriated an amount equivalent to the increase in revenues resulting from a tax imposed on each repurchase of outstanding shares of stock by a major integrated oil company pursuant to a stock buyback program.

Appropriates amounts in the fund as follows: (1) 60% to offset the cost of subsequent legislation to accelerate the use of clean domestic renewable energy resources and alternative fuels, promote energy efficiency and conservation, and increase research, development, and deployment of clean renewable energy and energy efficiency technologies; and (2) 40% for carrying out the Low-Income Home Energy Assistance program.

Amends the Internal Revenue Code to impose the oil company stock repurchase transaction tax.

What's happening now June 3, 2008

Referred to the Subcommittee on Energy and Environment.

 Committees of jurisdiction 5