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[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 3454 Introduced in Senate (IS)]

110th CONGRESS
  2d Session
                                S. 3454

 To transfer unexpended Iraq reconstruction funds to develop renewable 
  energy and improve energy efficiency in the United States, and for 
                            other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           September 9, 2008

  Mr. Dorgan introduced the following bill; which was read twice and 
              referred to the Committee on Appropriations

_______________________________________________________________________

                                 A BILL

 
 To transfer unexpended Iraq reconstruction funds to develop renewable 
  energy and improve energy efficiency in the United States, 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 ``Iraq Self-Sufficiency and American 
Energy Independence Act of 2008''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) Iraq has abundant financial resources to fund relief 
        and reconstruction projects;
            (2)(A) in November 2007, the Government of Iraq estimated 
        that oil income in 2008 would amount to $35,000,000,000; but
            (B) with high crude oil prices and Iraq oil production at 
        record levels, the Special Inspector General for Iraq estimates 
        that oil revenues could exceed $70,000,000,000;
            (3) Iraqi Deputy Prime Minister Barham Salih stated 
        recently that ``Iraq does not need financial assistance.'';
            (4) the Government Accountability Office estimates that the 
        Government of Iraq--
                    (A) has accumulated a budget surplus of 
                approximately $29,000,000,000 from fiscal year 2005 
                through 2007; and
                    (B) will accumulate a budget surplus of between 
                $38,200,000,000 and $50,300,000,000 for fiscal year 
                2008;
            (5) according to the July 2008 quarterly report of the 
        Special Inspector General for Iraq--
                    (A) Congress has appropriated $43,560,000,000 for 
                the major United States reconstruction accounts in 
                Iraq; but
                    (B) over \1/4\ of those funds, or $12,570,000,000, 
                have not yet been expended, including unobligated funds 
                from appropriations for prior fiscal years; and
            (6) those unexpended funds would be put to much better use 
        in developing renewable energy sources and improving energy 
        efficiency for the United States, so as to reduce the 
        dependence of the United States on foreign oil.

SEC. 3. TRANSFER OF IRAQ RECONSTRUCTION FUNDS FOR RENEWABLE ENERGY AND 
              ENERGY EFFICIENCY IN THE UNITED STATES.

    (a) Transfer.--In the case of the amounts described in subsection 
(b)--
            (1)(A) \2/3\ of the amounts shall be transferred to the 
        Office of Energy Efficiency and Renewable Energy of the 
        Department of Energy; and
            (B) \1/3\ of the amounts shall be transferred to the Office 
        of Science of the Department of Energy; and
            (2) the amounts shall be available, until expended, for 
        research, development, and demonstration to develop renewable 
        energy and improve energy efficiency in the United States.
    (b) Covered Amounts.--The amounts described in this subsection are 
any amounts that are unexpended as of the date of enactment of this Act 
among amounts as follows:
            (1) Amounts in the Iraq Relief and Reconstruction Fund.
            (2) Amounts in the Iraq Security Forces Fund.
            (3) Amounts for the Economic Support Fund authorized under 
        chapter 4 of part II of the Foreign Assistance Act of 1961 (22 
        U.S.C. 2346 et seq.) that are available for Iraq.
                                 <all>
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