I 
110TH CONGRESS 
2D SESSION 
H. R. 6155 
To establish and fund a Clean Energy Fund, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 22, 2008 
Mr. MARKEY introduced the following bill; which was referred to the Com-
mittee 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 com-
mittee concerned 
A BILL 
To establish and fund a Clean Energy Fund, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Renewable Investment 
and Consumer Protection Act’’. 
SEC. 2. CLEAN ENERGY FUND. 
(a) ESTABLISHMENT OF CLEAN ENERGY FUND.— 
(1) CREATION OF FUND.—There is established 
in the Treasury of the United States an account to 
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be known as the ‘‘Clean Energy Fund’’, consisting 
of such amounts as may be appropriated as provided 
in this section. 
(2) TRANSFERS.—There is hereby appropriated 
an amount equivalent to the increase in revenues re-
ceived in the Treasury as the result of the tax im-
posed under section 4983 of the Internal Revenue 
Code of 1986. Of such amounts— 
(A) 60 percent shall be appropriated to 
offset the cost of subsequent legislation— 
(i) to accelerate the use of clean do-
mestic renewable energy resources and al-
ternative fuels; 
(ii) to promote the utilization of en-
ergy-efficient products and practices and 
conservation; and 
(iii) to increase research, development, 
and deployment of clean renewable energy 
and efficiency technologies; and 
(B) 40 percent shall be appropriated to the 
Secretary of Health and Human Services for 
carrying out the Low-Income Home Energy As-
sistance Act of 1981 (42 U.S.C. 8621 et seq.). 
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(b) IMPOSITION
OF TAX.—The Internal Revenue 
Code of 1986 is amended by inserting after chapter 44 
the following new chapter: 
‘‘CHAPTER 
44A—STOCK 
REPURCHASE 
TRANSACTIONS 
BY 
MAJOR 
INTE-
GRATED OIL COMPANIES 
‘‘Sec. 4983. Stock repurchase transactions by major integrated oil companies. 
‘‘SEC. 4983. STOCK REPURCHASE TRANSACTIONS BY MAJOR 
INTEGRATED OIL COMPANIES. 
‘‘(a) IMPOSITION OF TAX.—There is hereby imposed 
on each covered stock repurchase transaction a tax equal 
to 10 percent of the fair market value of such transaction. 
‘‘(b) LIABILITY FOR TAX.—The tax imposed by sub-
section (a) shall be paid by the purchaser of the repur-
chased stock. 
‘‘(c) COVERED STOCK TRANSACTION.—For purposes 
of this section, the term ‘covered stock repurchase trans-
action’ means the repurchase of outstanding shares of 
stock by a major integrated oil company (as defined in 
section 167(h)(5)) pursuant to a stock buyback pro-
gram.’’. 
(c) CLERICAL AMENDMENT.—The table of chapters 
for subtitle D of the Internal Revenue Code of 1986 is 
amended by inserting after the item relating to chapter 
44 the following new item: 
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