Coal-to-Liquid Fuel Promotion Act of 2007

Bill: 110-s-155
Sponsor: Sen. Bunning, Jim [R-KY]
Introduced: 2007-01-04 in the Senate
Policy area: Energy
Subjects: Administrative procedure
Alternative energy sources
Armed Forces and National Security
Aviation fuels
Building construction
Carbon cycle
Carbon dioxide
Coal
Commerce
Congress
Congressional reporting requirements
Construction costs
Cooperative societies
Defense contracts
Department of Energy
Depreciation and amortization
Diesel motor
Economics and Public Finance
Energy facilities
Energy research
Energy storage
Environmental Protection
Environmental health
Environmental research
Federally-guaranteed loans
Finance and Financial Sector
Gas industry
Government Operations and Politics
Government lending
Governmental investigations
Health
Income tax
Investment tax credit
Laboratories
Law
Licenses
Methane
Military bases
Minimum tax
Motor vehicle pollution control
Petroleum
Petroleum industry
Petroleum reserves
Public Lands and Natural Resources
Public health
Research and development
Research and development facilities
Research centers
Science, Technology, Communications
Secondary recovery of gas
Secondary recovery of oil
Strategic materials
Synthetic fuel
Tax credits
Tax deductions
Tax returns
Taxation
Transportation and Public Works

Summary:
action_date: 2007-01-04
text: 
Coal-to-Liquid Fuel Promotion Act of 2007 - Amends the Energy Policy Act of 2005 to instruct the Secretary of Energy to: (1) make loan guarantees to certain large-scale coal-to-liquid facilities to produce liquid transportation fuel; (2) establish a loan program to pay the federal share of the cost of obtaining services necessary for the planning, permitting, and construction of a coal-to-liquid facility; and (3) promulgate regulations for development of coal-to-liquid manufacturing facilities on federal land.
 
Amends the Energy Policy and Conservation Act to instruct the Secretaries of Energy and of Defense to study and report to Congress on the feasibility and suitability of maintaining coal-to-liquid products in the Strategic Petroleum Reserve (Reserve).
 
Authorizes the Secretary to: (1) construct storage facilities in the vicinity of pipeline infrastructure and at least one military base; and (2) place coal-to-liquid products in storage in the Reserve.
 
Authorizes the use of certain funds by the Air Force Research Laboratory to continue support efforts to test, qualify, and procure synthetic fuels developed from coal for aviation jet use.
 
Amends Armed Forces law to authorize the Secretary of Defense to enter into agreements to develop and operate coal-to-liquid facilities on or near military installations.
 
Instructs the Secretary of Energy to implement a research and demonstration program to evaluate the emissions of the use of Fischer-Tropsch transportation fuel, including diesel and jet fuel.
 
Amends the Internal Revenue Code to allow: (1) an income tax credit for investment in coal-to-liquid fuels projects; (2) taxpayer election to expense certain coal-to-liquid fuels facilities; (3) an extension of the alternative fuel credit for fuel derived from coal through the Fischer-Tropsch process; (4) an enhanced credit for certain projects using qualified carbon dioxide; and (5) an enhanced oil, natural gas, and coalbed methane recovery, and capture and sequestration credit against the alternative minimum tax.


Legislative actions:
action_date: 2007-01-04
text: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S144-148)
action_date: 2007-01-04
text: Introduced in Senate