TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Climate Change Technology Deployment 
in Developing Countries Act of 2005''.

SEC. 2. CLIMATE CHANGE TECHNOLOGY DEPLOYMENT IN DEVELOPING COUNTRIES.

    Title VII of the Global Environmental Protection Assistance Act of 
1989 (Public Law 101-240; 103 Stat. 2521) is amending by adding at the 
end the following:

        ``PART C--TECHNOLOGY DEPLOYMENT IN DEVELOPING COUNTRIES

``SEC. 731. DEFINITIONS.

    ``In this part:
            ``(1) Carbon sequestration.--The term `carbon 
        sequestration' means the capture of carbon dioxide through 
        terrestrial, geological, biological, or other means, which 
        prevents the release of carbon dioxide into the atmosphere.
            ``(2) Greenhouse gas.--The term `greenhouse gas' means 
        carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, 
        perfluorocarbons, and sulfur hexafluoride.
            ``(3) Greenhouse gas intensity.--The term `greenhouse gas 
        intensity' means the ratio of greenhouse gas emissions to 
        economic output.

``SEC. 732. REDUCTION OF GREENHOUSE GAS INTENSITY.

    ``(a) Lead Agency.--
            ``(1) In general.--The Department of State shall act as the 
        lead agency for integrating into United States foreign policy 
        the goal of reducing greenhouse gas intensity in developing 
        countries.
            ``(2) Reports.--
                    ``(A) In general.--Not later than 180 days after 
                the date of enactment of this part and each year 
                thereafter, the Secretary of State shall submit to the 
                appropriate authorizing and appropriating committees of 
                Congress a report on the 25 developing countries that 
                are the top energy users, including for each country a 
                description of--
                            ``(i) the quantity and types of energy 
                        used;
                            ``(ii) the greenhouse gas intensity of the 
                        energy, manufacturing, agricultural, and 
                        transportation sectors;
                            ``(iii) the progress of any projects 
                        undertaken to reduce greenhouse gas intensity;
                            ``(iv) the potential for further projects 
                        to reduce greenhouse gas intensity; and
                            ``(v) obstacles to the further reduction of 
                        greenhouse gas intensity.
                    ``(B) Use.--
                            ``(i) Initial report.--The Secretary of 
                        State shall use the initial report submitted 
                        under subparagraph (A) to establish baselines 
                        for the developing countries with respect to 
                        the information provided under clauses (i) and 
                        (ii) of that subparagraph.
                            ``(ii) Annual reports.--The Secretary of 
                        State shall use the annual reports submitted 
                        under subparagraph (A) to track the progress of 
                        the developing countries with respect to 
                        reducing greenhouse gas intensity.
    ``(b) Projects.--The Secretary of State, in coordination with 
Administrator of the United States Agency for International 
Development, shall (directly or through agreements with the World Bank, 
the International Monetary Fund, the Overseas Private Investment 
Corporation, and other development institutions) provide assistance to 
developing countries specifically for projects to reduce greenhouse gas 
intensity, including projects to--
            ``(1) leverage, through bilateral agreements, funds for 
        reduction of greenhouse gas intensity;
            ``(2) increase private investment in projects and 
        activities to reduce greenhouse gas intensity; and
            ``(3) expedite the deployment of technology to reduce 
        greenhouse gas intensity.
    ``(c) Focus.--In carrying out the projects, the Secretary of State 
shall focus on--
            ``(1) promoting the rule of law, property rights, contract 
        protection, and economic freedom; and
            ``(2) increasing capacity, infrastructure, and training.
    ``(d) Priority.--In carrying out the projects, the Secretary of 
State shall give priority to projects in the 25 developing countries 
identified in the report submitted under subsection (a)(2)(A).

``SEC. 733. TECHNOLOGY INVENTORY FOR DEVELOPING COUNTRIES.

    ``(a) In General.--The Secretary of State, in coordination with the 
Secretary of Energy, shall conduct an inventory of greenhouse gas 
intensity reducing technologies that are developed, or under 
development, to identify technologies that are suitable for transfer 
to, deployment in, and commercialization in the developing countries 
identified in the report submitted under section 732(a)(2)(A).
    ``(b) Report.--Not later than 180 days after the completion of the 
inventory under subsection (a), the Secretary of State and the 
Secretary of Energy shall jointly submit to Congress a report that--
            ``(1) includes the results of the completed inventory; and
            ``(2) identifies obstacles to the deployment of the 
        technologies studied.

``SEC. 734. TRADE-RELATED BARRIERS TO EXPORT OF GREENHOUSE GAS 
              INTENSITY REDUCING TECHNOLOGIES.

    ``Not later than 180 days after the date of enactment of this part, 
the United States Trade Representative shall--
            ``(1) identify trade-related barriers maintained by foreign 
        countries to the export of greenhouse gas intensity reducing 
        technologies and practices from the United States; and
            ``(2) negotiate with the foreign countries for the removal 
        of those barriers.

``SEC. 735. GREENHOUSE GAS INTENSITY REDUCING TECHNOLOGY EXPORT 
              INITIATIVE.

    ``(a) In General.--There is established an interagency working 
group to carry out a Greenhouse Gas Intensity Reducing Technology 
Export Initiative to--
            ``(1) promote the export of greenhouse gas intensity 
        reducing technologies and practices from the United States;
            ``(2) identify developing countries that should be 
        designated as priority countries for the purpose of exporting 
        greenhouse gas intensity reducing technologies and practices, 
        based on the report submitted under section 732(a)(2)(A);
            ``(3) identify potential barriers to adoption of exported 
        greenhouse gas intensity reducing technologies and practices; 
        and
            ``(4) identify previous efforts to export energy 
        technologies to learn best practices.
    ``(b) Composition.--The working group shall be composed of--
            ``(1) the Secretary of State, who shall act as the head of 
        the working group;
            ``(2) the Administrator of the United States Agency for 
        International Development;
            ``(3) the United States Trade Representative;
            ``(4) a designee of the Secretary of Energy; and
            ``(5) a designee of the Secretary of Commerce.
    ``(c) Performance Reviews and Reports.--Not later than 180 days 
after the date of enactment of this part and each year thereafter, the 
interagency working group shall--
            ``(1) conduct a performance review of actions taken and 
        results achieved by the Federal Government (including each of 
        the agencies represented on the interagency working group) to 
        promote the export of greenhouse gas intensity reducing 
        technologies and practices from the United States; and
            ``(2) submit to the appropriate authorizing and 
        appropriating committees of Congress a report that describes 
        the results of the performance reviews and evaluates progress 
        in promoting the export of greenhouse gas intensity reducing 
        technologies and practices from the United States, including 
        any recommendations for increasing the export of the 
        technologies and practices.

``SEC. 736. TECHNOLOGY STRATEGIC PLAN AND DEMONSTRATION PROJECTS.

    ``(a) In General.--The Secretary of State, in coordination with the 
Secretary of Energy and the Administrator of the United States Agency 
for International Development, shall develop a technology strategic 
plan, and carry out demonstration projects, to promote the adoption of 
technologies and practices that reduce greenhouse gas intensity in 
developing countries.
    ``(b) Demonstration Projects.--
            ``(1) In general.--The Secretaries and the Administrator 
        shall plan, coordinate, and carry out demonstration projects 
        under this section in at least 10 eligible countries, as 
        determined by the Secretaries and the Administrator.
            ``(2) Eligibility.--A country shall be eligible for 
        assistance under this subsection if the Secretaries and the 
        Administrator determine that the country has demonstrated a 
        commitment to--
                    ``(A) just and democratic governance, including--
                            ``(i) promoting political pluralism, 
                        equality, and the rule of law;
                            ``(ii) respecting human and civil rights;
                            ``(iii) protecting private property rights;
                            ``(iv) encouraging transparency and 
                        accountability of government; and
                            ``(v) combating corruption; and
                    ``(B) economic freedom, including economic policies 
                that--
                            ``(i) encourage citizens and firms to 
                        participate in global trade and international 
                        capital markets;
                            ``(ii) promote private sector growth and 
                        the sustainable management of natural 
                        resources;
                            ``(iii) strengthen market forces in the 
                        economy; and
                            ``(iv) respect worker rights.
            ``(3) Selection.--In determining which eligible countries 
        to provide funding to under paragraph (1), the Secretaries and 
        the Administrator shall consider--
                    ``(A) the extent to which the country meets or 
                exceeds the eligibility criteria;
                    ``(B) the opportunity to reduce greenhouse gas 
                intensity in the eligible country; and
                    ``(C) the opportunity to generate economic growth 
                in the eligible country.
            ``(4) Types of projects.--Demonstration projects under this 
        section may include--
                    ``(A) coal gasification, coal liquefaction, and 
                clean coal projects;
                    ``(B) carbon sequestration projects;
                    ``(C) cogeneration technology initiatives;
                    ``(D) renewable projects; and
                    ``(E) lower emission transportation.

``SEC. 737. FELLOWSHIP AND EXCHANGE PROGRAMS.

    ``The Secretary of State, in coordination with the Secretary of 
Energy, the Secretary of Commerce, and the Administrator of the 
Environmental Protection Agency, shall carry out fellowship and 
exchange programs under which officials from developing countries visit 
the United States to acquire expertise and knowledge of best practices 
to reduce greenhouse gas intensity in their countries.

``SEC. 738. AUTHORIZATION OF APPROPRIATIONS.

    ``There are authorized to be appropriated such sums as are 
necessary to carry out this part (other than section 736).

``SEC. 739. EFFECTIVE DATE.

    ``Except as otherwise provided in this part, this part takes effect 
on October 1, 2005.

``SEC. 740. TERMINATION OF AUTHORITY.

    ``The authority provided by this part terminates effective December 
31, 2010.''.

SOLUTION: Climate Change Technology Deployment in Developing Countries Act of 2005 - Amends the Global Environmental Protection Assistance Act of 1989 to consider the Department of State as the lead agency for integrating into U.S. foreign policy the goal of reducing greenhouse gas intensity in developing countries.

Directs the Secretary of State to: (1) provide assistance to developing countries to reduce greenhouse gas intensity; (2) inventory greenhouse gas intensity reducing technologies and identify appropriate technologies for developing countries; (3) develop a technology strategic plan and carry out demonstration projects in at least ten countries; and (4) carry out fellowship and exchange programs for officials from developing countries to acquire U.S. expertise in greenhouse gas intensity reduction practices.

Directs the U.S. Trade Representative to seek to eliminate foreign trade barriers to the export of U.S. greenhouse gas intensity reducing technologies and practices.

Establishes an interagency working group to carry out a greenhouse gas intensity reducing technology export initiative.

 Terminates programs under this Act as of December 31, 2010.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Commercial Mortgage Capital 
Availability Act of 1993''.

SEC. 2. INSURED DEPOSITORY INSTITUTION CAPITAL REQUIREMENTS FOR 
              TRANSFERS OF MORTGAGE LOANS.

    (a) Accounting Principles.--The accounting principles applicable to 
the transfer of a mortgage loan with recourse contained in reports or 
statements required to be filed with Federal banking agencies by a 
qualified insured depository institution shall be consistent with 
generally accepted accounting principles.
    (b) Capital and Reserve Requirements.--With respect to the transfer 
of a mortgage loan with recourse that is a sale under generally 
accepted accounting principles, each qualified insured depository 
institution shall--
            (1) establish and maintain a reserve equal to an amount 
        sufficient to meet the reasonable estimated liability of the 
        institution under the recourse arrangement; and
            (2) treat as an asset (for purposes of applicable capital 
        standards and other capital measures, including risk-based 
        capital requirements) only the maximum amount at risk under the 
        recourse arrangement.
    (c) Qualified Institutions Defined.--An insured depository 
institution is a qualified insured depository institution for purposes 
of this section if, without regard to the accounting principles or 
capital requirements referred to in subsections (a) and (b), the 
institution is--
            (1) well capitalized; or
            (2) with the approval, by regulation or order, of the 
        appropriate Federal banking agency, adequately capitalized.
    (d) Aggregate Amount of Recourse.--The total outstanding amount at 
risk with respect to transfers of mortgage loans under subsections (a) 
and (b) (together with the amount at risk under any provisions of law 
substantially similar to subsections (a) and (b)) shall not exceed--
            (1) the amount which is equal to 15 percent of the risk-
        based capital of the institution; or
            (2) such greater amount, as established by the appropriate 
        Federal banking agency by regulation or order.
    (e) Institutions That Cease To Be Qualified or Exceed Aggregate 
Limits.--If an insured depository institution ceases to be a qualified 
insured depository institution or exceeds the limits under subsection 
(d), this section shall remain applicable to any transfer of mortgage 
loans that occurred at a time when the institution was qualified and 
had not exceeded such limit.
    (f) Prompt Corrective Action not Affected.--The capital of an 
insured depository institution shall be computed without regard to this 
section in determining whether the institution is less than well 
capitalized.
    (g) Regulations Required.--Before the end of the 180-day period 
beginning on the date of the enactment of this Act, each appropriate 
Federal banking agency shall prescribe final regulations implementing 
this section.
    (h) Alternative System Permitted.--
            (1) In general.--At the discretion of the appropriate 
        Federal banking agency, this section shall not apply if the 
        regulations of the agency provide that the aggregate amount of 
        capital and reserves required with respect to the transfer of 
        mortgage loans with recourse does not exceed the aggregate 
        amount of capital and reserves that would be required under 
        subsection (b).
            (2) Existing transactions not affected.--Notwithstanding 
        paragraph (1), this section shall remain in effect with respect 
        to transfers of mortgage loans with recourse by qualified 
        insured depository institutions occurring before the effective 
        date of regulations referred to in paragraph (1).
    (i) Definitions.--The following definitions apply for purposes of 
this section:
            (1) Adequately capitalized.--The term ``adequately 
        capitalized'' has the same meaning as in section 38(b) of the 
        Federal Deposit Insurance Act.
            (2) Appropriate federal banking agency.--The term 
        ``appropriate Federal banking agency'' has the same meaning as 
        in section 3 of the Federal Deposit Insurance Act.
            (3) Capital standards.--The term ``capital standards'' has 
        the same meaning as in section 38(c) of the Federal Deposit 
        Insurance Act.
            (4) Federal banking agencies.--The term ``Federal banking 
        agencies'' has the same meaning as in section 3 of the Federal 
        Deposit Insurance Act.
            (5) Insured depository institution.--The term ``insured 
        depository institution'' has the same meaning as in section 3 
        of the Federal Deposit Insurance Act.
            (6) Other capital measures.--The term ``other capital 
        measures'' has the same meaning as in section 38(c) of the 
        Federal Deposit Insurance Act.
            (7) Recourse.--The term ``recourse'' has the meaning given 
        to such term under generally accepted accounting principles.
            (8) Mortgage loan.--The term ``mortgage loan'' means any--
                    (A) note or certificate of interest or 
                participation in a note (including any rights designed 
                to assure servicing of, or the timeliness of receipt by 
                the holders of such notes, certificates, or 
                participation of amounts payable under such notes, 
                certificates or participation) that is principally 
                secured by an interest in real property; or
                    (B) any security (within the meaning of section 8 
                of the Securities Exchange Act of 1934) that is secured 
                by one or more notes described in subparagraph (A) or 
                certificates of interest or participation in such notes 
                (with or without recourse to issuers thereof) and that, 
                by its terms, provides for payments of principal in 
                relation to payments, or reasonable projections of 
                payments, on notes described in subparagraph (A) or 
                certificates of interest or participation in such 
                notes.
            (9) Well capitalized.--The term ``well capitalized'' has 
        the same meaning as in section 38(b) of the Federal Deposit 
        Insurance Act.

SEC. 3. AMENDMENT TO DEFINITION OF MORTGAGE RELATED SECURITY.

    Section 3(a)(41)(A)(i) of the Securities Exchange Act of 1934 (15 
U.S.C. 78c(a)(41)(A)(i)) is amended by inserting before the semicolon 
``, or on 1 or more parcels of real estate upon which is located one or 
more commercial structures''.

SEC. 4. AUTHORITY TO EXEMPT COMMERCIAL MORTGAGE RELATED SECURITIES 
              TRANSACTIONS FROM PROHIBITED TRANSACTION RULES.

    The Secretary of Labor, in consultation with the Secretary of the 
Treasury, shall exempt, either unconditionally or on stated terms and 
conditions, transactions involving commercial mortgage related 
securities (as such term is defined in section 3(a)(41) of the 
Securities Exchange Act of 1934, as amended by section 3 of this Act) 
from--
            (1) the restrictions of sections 406(a) and 407(a) of the 
        Employee Retirement Income Security Act of 1974; and
            (2) the taxes imposed under section 4975 of the Internal 
        Revenue Code of 1986.

SEC. 5. PROVISIONS TO SAFEGUARD THE INTEGRITY OF THE SECURITIZATION 
              PROCESS, AND THE SAFETY AND SOUNDNESS OF FEDERALLY 
              INSURED INSTITUTIONS.

    (a) Compliance With Securities Regulations.--Any security relying 
on the provisions of this Act shall comply with all rules and 
regulations of Federal securities laws applicable thereto, as 
determined taking into account the provisions of this Act, including 
all provisions relating to required disclosure to investors, 
registrations, reporting and compliance, and all anti-fraud provisions.
    (b) Treatment of Bank Issued or Purchased Mortgage Backed 
Securities for Purposes of Minimum Capital Requirements.--
            (1) Mortgages held by bank to back securities.--If an issue 
        of securities backed by mortgage loans represents a liability 
        on the balance sheet of an insured depository institution and 
        the assets backing such obligation represent assets on the 
        balance sheet of such institution, the institution shall 
        maintain minimum adequate capital with regard to such assets as 
        prescribed by all applicable rules and regulations of the 
        banking agencies with supervisory and examination authority 
        over such institution, as determined taking into account the 
        provisions of this Act.
            (2) Securities held by bank.--If an insured depository 
        institution purchases a mortgage-related security to which the 
        provisions of this Act apply, the institution shall maintain 
        minimum adequate capital with respect to such security and all 
        other assets as prescribed by all applicable rules and 
        regulations of the banking agencies with supervisory and 
        examination authority over such institution, as determined 
        taking into account the provisions of this Act.

SOLUTION: Commercial Mortgage Capital Availability Act of 1993 - Sets forth a regulatory scheme under which qualified insured depository institutions meeting prescribed reserve and capital requirements may execute mortgage loan transfers with a recourse arrangement. 
Amends the Securities Exchange Act of 1934 to modify the definition of "mortgage related security" to include notes directly secured by a first lien on real estate with commercial structures located upon it (thus bringing such securities within the purview of the Act). 
Directs the Secretary of Labor to exempt commercial mortgage related securities transactions from:  (1) certain restrictions of the Employee Retirement Income Security Act of 1974; and (2) certain taxes imposed under the Internal Revenue Code. 
Mandates that securities relying on the provisions of this Act comply with all Federal securities laws relating to disclosure to investors, registrations, reporting and anti-fraud provisions. 
Requires insured depository institutions to maintain the minimum adequate capital prescribed by regulatory banking agencies when executing mortgage backed securities transactions.

PROBLEM: SECTION 1. TREATMENT OF BONDS ISSUED TO FINANCE RENEWABLE ENERGY 
              RESOURCE FACILITIES AND CONSERVATION AND EFFICIENCY 
              FACILITIES AND OTHER SPECIFIED GREENHOUSE GAS EMISSION 
              TECHNOLOGIES.

    (a) In General.--Section 142(a) of the Internal Revenue Code of 
1986 is amended by striking ``or'' at the end of paragraph (14), by 
striking the period at the end of paragraph (15) and inserting a comma, 
and by inserting after paragraph (15) the following new paragraphs:
            ``(16) renewable energy resource facilities,
            ``(17) conservation and efficiency facilities and projects, 
        or
            ``(18) zero emission vehicles and related facilities or 
        projects.''.
    (b) Renewable Energy Resource Facility.--Section 142 of such Code 
is further amended by adding at the end the following new subsection:
    ``(n) Renewable Energy Resource Facilities.--For purposes of 
subsection (a)(16)--
            ``(1) In general.--The term `renewable energy resource 
        facility' means--
                    ``(A) any facility used to produce electric or 
                thermal energy (including a distributed generation 
                facility) from--
                            ``(i) solar, wind, or geothermal energy,
                            ``(ii) marine and hydrokinetic renewable 
                        energy,
                            ``(iii) incremental hydropower,
                            ``(iv) biomass (as defined in section 
                        203(b) of the Energy Policy Act of 2005 (42 
                        U.S.C. 15852(b))), or
                            ``(v) landfill gas, or
                    ``(B) any facility or project used for the 
                manufacture of facilities referred to in subparagraph 
                (A).
            ``(2) Definitions.--For purposes of paragraph (1)--
                    ``(A) Geothermal energy.--The term `geothermal 
                energy' means energy derived from a geothermal deposit 
                (within the meaning of section 613(e)(2)) or from 
                geothermal heat pumps.
                    ``(B) Marine and hydrokinetic renewable energy.--
                The term `marine and hydrokinetic renewable energy' has 
                the meaning given such term in section 45(c)(10).
                    ``(C) Incremental hydropower.--The term 
                `incremental hydropower' means additional energy 
                generated as a result of efficiency improvements or 
                capacity additions to existing hydropower facilities 
                made on or after the date of enactment of this 
                subsection. The term `incremental hydropower' does not 
                include additional energy generated as a result of 
                operational changes not directly associated with 
                efficiency improvements or capacity additions.''.
    (c) Conservation and Efficiency.--Section 142 of such Code is 
amended by adding at the end the following new subsection:
    ``(o) Conservation and Efficiency Facilities and Projects.--For 
purposes of subsection (a)(17), the term `conservation and efficiency 
facility and project' means--
            ``(1) any facility used for the conservation or the 
        efficient use of energy, including energy efficient 
        retrofitting of existing buildings, or for the efficient 
        storage, transmission, or distribution of energy, including any 
        facility or project designed to implement smart grid 
        technologies (as described in title XIII of the Energy 
        Independence and Security Act of 2007, or individual components 
        of such technologies as listed in section 1301 of such Act),
            ``(2) any facility used for the conservation of or the 
        efficient use of water, including--
                    ``(A) any facility or project designed to--
                            ``(i) reduce the demand for water,
                            ``(ii) improve efficiency in use and reduce 
                        losses and waste of water, and
                            ``(iii) improve land management practices 
                        to conserve water, or
                    ``(B) any individual component of a facility or 
                project referred to in subparagraph (A), or
            ``(3) any facility or project used for the manufacture of 
        facilities referred to in paragraphs (1) and (2).
For purposes of paragraph (2)(A), facilities and projects does not 
include facilities or projects that store water.''.
    (d) Zero Emission Vehicles and Related Facilities or Projects.--
Section 142 of such Code is amended by adding at the end the following 
new subsection:
    ``(p) Zero Emission Vehicles and Related Facilities or Projects.--
            ``(1) Zero emission vehicles.--The term `zero emission 
        vehicles' means vehicles that have no tailpipe emissions, 
        evaporative emissions, or onboard emission-control systems that 
        can deteriorate over time.
            ``(2) Facilities related to zero emission vehicles.--A 
        facility or project is related to a zero emission vehicle if 
        the facility is any real or personal property to be used in the 
        design, technology transfer, manufacture, production, assembly, 
        distribution, or service of zero emission vehicles.''.
    (e) Coordination With Section 45.--Paragraph (3) of section 45(b) 
of such Code is amended by adding at the end the following new 
sentence: ``Clause (ii) of subparagraph (A) shall not apply with 
respect to (I) any qualified facility that is a renewable energy 
resource facility described in section 142(a)(16), (II) any qualified 
facility that is a conservation and efficiency facility described in 
section 142(a)(17), or (III) any qualified facility that is a zero 
emission vehicle and related facility or project described in section 
142(a)(18).''.
    (f) Coordination With Section 45K.--Subparagraph (A) of section 
45K(b)(3) of such Code is amended by adding at the end the following 
flush sentence: ``Clause (i)(II) shall not apply with respect to (aa) 
any qualified facility that is a renewable energy resource facility 
described in section 142(a)(16), (bb) any qualified facility that is a 
conservation and efficiency facility described section 142(a)(17), or 
(cc) any qualified facility that is a zero emission vehicle and related 
facility or project described in section 142(a)(18).''.
    (g) Coordination With Section 146(g)(3).--Section 146(g)(3) is 
amended by striking ``or (15)'' and all that follows through the end of 
the paragraph and inserting ``(15), (16), (17), or (18)''.
    (h) Effective Date.--The amendments made by this section shall 
apply to obligations issued after the date of the enactment of this 
Act.

SOLUTION:
Amends the Internal Revenue Code to allow a tax exemption of the interest on bonds issued to finance renewable energy resource facilities, conservation and efficiency facilities and projects, and zero emission vehicles and related facilities or projects.