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[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1556 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                S. 1556

  To require an accounting for financial support made to promote the 
     production or use of renewable energy, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           September 14, 2011

 Mr. Vitter (for himself and Mr. Johnson of Wisconsin) introduced the 
 following bill; which was read twice and referred to the Committee on 
               Homeland Security and Governmental Affairs

_______________________________________________________________________

                                 A BILL

 
  To require an accounting for financial support made to promote the 
     production or use of renewable energy, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Accounting of Renewable 
Energy Act of 2011'' or the ``FARE Act of 2011''.

SEC. 2. GREEN ECONOMICS ACCOUNTING.

    (a) In General.--Not later than 60 days after the date of enactment 
of this Act, the head of each Federal agency shall submit to Congress 
an accounting for all financial support (including grants, loans, loan 
guarantees, and direct payments) made by the agency during fiscal years 
2009 through 2011 to promote the production or use of renewable energy.
    (b) Results.--As part of the accounting for projects described in 
subsection (a), the Federal agency shall include in the accounting--
            (1) a list of the projects that directly led to the 
        production or use of renewable energy (as of the date of the 
        submission of the report);
            (2)(A) the quantity of renewable energy or products on the 
        market as a direct result of the financial support provided to 
        the recipient company; and
            (B) the gross sales of the recipient company during the 
        most recent fiscal year for which data are available; and
            (3)(A) the total quantity of financial support provided;
            (B) the total number of jobs created as a result of the 
        financial support listed by temporary or full-time employment; 
        and
            (C) the average cost to the recipient company of each full-
        time job created.
    (c) Minimum Requirements.--In the case of projects described in 
subsection (a), each accounting required under this section shall 
provide a full accounting (including applicable percentages) for each 
project, including--
            (1)(A) the applicable employment, sales, and revenue 
        targets submitted by each recipient company before receiving 
        financial support; and
            (B) a list of the recipient companies that substantially 
        failed to meet the applicable targets;
            (2) a list of all recipient companies that received 
        financial support but are no longer in operation or have moved 
        any portion of the operations of the companies to China, as of 
        the date of enactment of this Act; and
            (3) a list of all venture capital firms that were directly 
        involved in submitting the proposal for any financial support 
        that was ultimately awarded.
    (d) Investigations.--
            (1) In general.--If a recipient company received financial 
        support to carry out a project described in subsection (a) and 
        the recipient company is no longer in existence or is unlikely 
        to substantially achieve the purpose of the financial support, 
        the Inspector General of the Federal agency that provided the 
        financial support shall conduct a preliminary investigation of 
        the documents submitted by the company and executives of the 
        company to determine whether the company or executives 
        potentially committed fraud in obtaining the financial support.
            (2) National renewable energy laboratory.--The Inspector 
        General of the Department of Energy shall review and submit to 
        Congress a list of the name of each individual who--
                    (A) is an executive of a recipient company that 
                received financial support from National Renewable 
                Energy Laboratory during any of calendar years 2009 
                through 2011; and
                    (B) had an immediate family member who was employed 
                by the National Renewable Energy Laboratory as of the 
                date of receipt of the financial support.
                                 <all>
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