To amend the Energy Policy Act of 2005 to provide loan guarantees for projects to construct renewable fuel pipelines, and for other purposes.

Summary: Renewable Fuel Pipelines Act of 2008 - Amends the Energy Policy Act of 2005 to allow federally-guaranteed loans for renewable fuel pipeline construction without regard to whether an appropriation for the cost has been made. Includes ethanol and biodiesel as renewable fuel.

Allows a maximum guarantee by the Secretary of Energy of 90% of the project cost and more than one guarantee for a project (as long as the total guaranteed amount does not exceed 90%).

Sets forth factors to be considered in guarantee determinations, including volume and quality of fuel, size of markets served, experience of the entity working with renewable fuel, and associated storage, production, and terminal facilities.

Expresses the sense of Congress concerning appropriations for such guarantees.

Directs the Secretary to publish a final rule for carrying out the loan guarantee program (or modify existing applicable rules and regulations in accordance with this Act).

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Renewable Fuel Pipelines Act of 
2008''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) Creating the appropriate infrastructure to move 
        renewable fuels is a necessary energy and transportation 
        objective for the United States.
            (2) Currently more than 70 percent of the gasoline supply 
        of the United States is delivered to local terminals through 
        pipelines.
            (3) Pipelines are the most cost-effective, efficient, and 
        safe transportation mode in use today to deliver large volumes 
        of liquid fuels.
            (4) Renewable fuels are currently transported by truck, 
        barge, and rail, and the volume requirements of the Energy 
        Independence and Security Act of 2007 may overwhelm the 
        renewable fuels infrastructure.
            (5) The transportation of renewable fuels through a 
        pipeline will facilitate the meeting of the volume requirements 
        of the Energy Independence and Security Act of 2007.
            (6) The production and use of renewable fuels is supported 
        by Federal policy and a corresponding Federal policy is 
        necessary to support the construction of an appropriate 
        infrastructure to transport such fuels.

SEC. 3. LOAN GUARANTEES FOR PROJECTS TO CONSTRUCT RENEWABLE FUEL 
              PIPELINES.

    (a) Definitions.--Section 1701 of the Energy Policy Act of 2005 (42 
U.S.C. 16511) is amended by adding at the end the following:
            ``(6) Renewable fuel.--The term `renewable fuel' has the 
        meaning given the term in section 211(o)(1) of the Clean Air 
        Act (42 U.S.C. 7545(o)(1)), as in effect on January 1, 2009, 
        except that the term shall include all ethanol and biodiesel.
            ``(7) Renewable fuel pipeline.--The term `renewable fuel 
        pipeline' means a common carrier pipeline for transporting 
        renewable fuel.''.
    (b) Specific Appropriation or Contribution.--Section 1702(b) of the 
Energy Policy Act of 2005 (42 U.S.C. 16512(b)) is amended by striking 
``No'' and inserting ``Except with respect to a project described in 
section 1703(f), no''.
    (c) Amount.--Section 1702(c) of the Energy Policy Act of 2005 (42 
U.S.C. 16512(c)) is amended--
            (1) by striking ``(c) Amount.--Unless'' and inserting the 
        following:
    ``(c) Amount.--
            ``(1) In general.--Unless''; and
            (2) by adding at the end the following:
            ``(2) Renewable fuel pipelines.--With respect to a project 
        described in section 1703(f)--
                    ``(A) a guarantee by the Secretary shall not exceed 
                an amount equal to 90 percent of the project cost of 
                the renewable fuel pipeline that is the subject of the 
                guarantee, as estimated at the time at which the 
                guarantee is issued; and
                    ``(B) the Secretary may make more than one 
                guarantee for such project, to the extent that the sum 
                of all guarantees for such project does not exceed an 
                amount equal to 90 percent of the project cost of the 
                renewable fuel pipeline that is the subject of such 
                guarantees, as estimated any time after the original 
                guarantee is issued.''.
    (d) Eligible Projects.--Section 1703 of the Energy Policy Act of 
2005 (42 U.S.C. 16513) is amended by adding at the end the following:
    ``(f) Renewable Fuel Pipelines.--
            ``(1) In general.--The Secretary may make guarantees under 
        this title for projects to construct renewable fuel pipelines 
        without regard to any limitation imposed by this section other 
        than one imposed in this subsection.
            ``(2) Guarantee determinations.--In determining whether to 
        make a guarantee for a project described in paragraph (1), the 
        Secretary shall consider the following:
                    ``(A) The volume of renewable fuel to be moved by 
                the renewable fuel pipeline.
                    ``(B) The size of the markets to be served by the 
                renewable fuel pipeline.
                    ``(C) The existence of sufficient storage to 
                facilitate access to the markets to be served by the 
                renewable fuel pipeline.
                    ``(D) The proximity of the renewable fuel pipeline 
                to renewable fuel production facilities.
                    ``(E) The investment in terminal infrastructure of 
                the entity carrying out the proposed project to 
                construct a renewable fuel pipeline.
                    ``(F) The history and experience working with 
                renewable fuel of the entity carrying out the proposed 
                project to construct a renewable fuel pipeline.
                    ``(G) The ability of the entity carrying out the 
                proposed project to construct a renewable fuel pipeline 
                to ensure and maintain the quality of the renewable 
                fuel through the terminal system of the entity and 
                through the dedicated pipeline system.
                    ``(H) The ability of the entity carrying out the 
                proposed project to construct a renewable fuel pipeline 
                to complete such proposed project in a timely manner.
                    ``(I) The ability of the entity carrying out the 
                proposed project to construct a renewable fuel pipeline 
                to secure property rights-of-way.
                    ``(J) Other criteria the Secretary determines 
                appropriate for consideration.''.
    (e) Authorization of Appropriations.--Section 1704 of the Energy 
Policy Act of 2005 (42 U.S.C. 16514) is amended by adding at the end 
the following:
    ``(c) Sense of Congress.--It is the sense of Congress that there 
should be appropriated such sums as may be necessary to provide 
$4,000,000,000 in guarantees under this title for projects described in 
section 1703(f).''.

SEC. 4. FINAL RULE.

    Not later than 90 days after the date of the enactment of this Act, 
the Secretary of Energy shall publish in the Federal Register a final 
rule for carrying out a guarantee program for the construction of 
renewable fuel pipelines under title XVII of the Energy Policy Act of 
2005 in accordance with the amendments made by this Act or shall modify 
rules and regulations currently applicable to the guarantee program 
under such title in accordance with the amendments made by this Act.