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 ''Film Incentive Reform Act of 2014''.

SEC. 2. MODIFICATION AND EXTENSION OF ELECTION TO EXPENSE THE COST OF
QUALIFIED FILM, TELEVISION, AND THEATRICAL PRODUCTIONS.

(a) Extension.--Section 181(f) of the Internal Revenue Code of 1986
is amended by striking ''December 31, 2013'' and inserting ''December
31, 2015''.
(b) Modification of Qualified Film, Television and Theatrical
Productions to Which Section Applies.--
(1) In general.--Section 181(d) of such Code is amended to
read as follows:
''(d) Qualified Film, Television, or Theatrical Production.--For
purposes of this section--
''(1) In general.--The term 'qualified film, television, or
theatrical production' means--
''(A) any film or television production if 100
percent of the total compensation of the film or
television production is compensation for services
performed in the United States, and
''(B) any theatrical production if 75 percent of
the total compensation of the theatrical production is
qualified compensation.
''(2) Film or television production.--
''(A) In general.--The term 'film or television
production' means property described in section
168(f)(3).
''(B) Special rule for television series.--In the
case of a television series--
''(i) each episode of such series shall be
treated as a separate production, and
''(ii) only the first 44 episodes of such
series shall be taken into account.
''(3) Theatrical production.--
''(A) In general.--The term 'theatrical production'
means a live staged production of a play (with or
without music) which is derived from a written book or
script and is produced or presented in any venue which
has an audience capacity of not more than 3,000 or a
series of venues the majority of which have an audience
capacity of not more than 3,000.
''(B) Touring companies.--In the case of multiple
live staged productions for which an election under
this section is made by the same taxpayer and which
are--
''(i) separate phases of a production, or
''(ii) separate simultaneous stagings of
the same production in different geographical
locations (not including multiple performance
locations of any one touring production),
each such live staged production shall be treated as a
separate production.
''(C) Phases.--For purposes of subparagraph (B),
the term 'phase' refers to each of the following (but
only if the taxpayer treats each of the following as a
separate activity for all purposes of this title):
''(i) The initial staging of the
production.
''(ii) Subsequent additional stagings or
tourings of the production which are produced
by the same producer as the initial staging.
''(D) Qualified compensation.--
''(i) In general.--For purposes of
paragraph (1)(B), the term 'qualified
compensation' means compensation for services
performed in the United States by actors,
directors, musicians, producers, and other
production and post-production personnel.
''(ii) Participations and residuals
excluded.--For purposes of paragraph (1)(B) and
clause (i), the term 'compensation' does not
include participations and residuals (as
defined in section 167(g)(7)(B)).
''(4) Exception.--The term 'qualified film, television, or
theatrical production' shall not include any production if
records are required under section 2257 of title 18, United
States Code, to be maintained with respect to any performer in
such production.''.
(2) Conforming amendments.--
(A) Subsections (a)(1), (a)(2)(A), (a)(2)(B), (b),
and (c)(1) of section 181 of such Code are each amended
by striking ''any qualified film or television
production'' and inserting ''any qualified film,
television, or theatrical production''.
(B) Section 181(f) of such Code is amended by
striking ''qualified film and television productions''
and inserting ''any qualified film, television, or
theatrical production''.
(C) The heading of section 181 is amended by
striking ''qualified film and television productions''
and inserting ''qualified film, television, and
theatrical productions''.
(D) The item relating to section 181 in the table
of sections for part VI of subchapter B of chapter 1 of
such Code is amended to read as follows:

''Sec. 181. Treatment of certain qualified film, television, and
theatrical productions.''.
(c) Effective Date.--The amendments made by this section shall
apply to qualified film, television, and theatrical productions
commencing after December 31, 2013.

SOLUTION: Film Incentive Reform Act of 2014 - Amends the Internal Revenue Code to: (1) extend through 2015 the election to expense the cost of qualified film, television, and theatrical productions; and (2) include theatrical productions in such expensing allowance. Defines "theatrical production" as a live staged production of a play derived from a written book or script andproduced or presented in any venue which has an audience capacity of more than 3,000.

PROBLEM: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Travel Facilitation and Safety Act
of 2015''.

SEC. 2. RECOVERY OF INITIAL PRECLEARANCE OPERATION COSTS.

(a) Cost Sharing Agreements With Relevant Airport Authorities.--The
Commissioner of U.S. Customs and Border Protection may enter into a
cost sharing agreement with airport authorities in foreign countries at
which preclearance operations are to be established or maintained if--
(1) an executive agreement to establish or maintain such
preclearance operations pursuant to the authorities under
section 629 of the Tariff Act of 1930 (19 U.S.C. 1629) and
section 103(a)(7) of the Immigration and Nationality Act (8
U.S.C. 1103(a)(7)) has been signed, but has not yet entered
into force; and
(2) U.S. Customs and Border Protection has incurred, or
expects to incur, initial preclearance operations costs in
order to establish or maintain preclearance operations under
the agreement described in paragraph (1).
(b) Contents of Cost Sharing Agreements.--
(1) In general.--Notwithstanding section 13031(e) of the
Consolidated Omnibus Budget Reconciliation Act of 1985 (19
U.S.C. 58c(e)) and section 286(g) of the Immigration and
Nationality Act (8 U.S.C. 1356(g)), any cost sharing agreement
authorized under subsection (a) may provide for the airport
authority's payment to U.S. Customs and Border Protection of
its initial preclearance operations costs.
(2) Timing of payments.--The airport authority's payment to
U.S. Customs and Border Protection for its initial preclearance
operations costs may be made in advance of the incurrence of
the costs or on a reimbursable basis.
(c) Account.--
(1) In general.--All amounts collected pursuant to any cost
sharing agreement authorized under subsection (a)--
(A) shall be credited as offsetting collections to
the currently applicable appropriation, account, or
fund of U.S. Customs and Border Protection;
(B) shall remain available, until expended, for the
purposes for which such appropriation, account, or fund
is authorized to be used; and
(C) may be collected and shall be available only to
the extent provided in appropriations Acts.
(2) Return of unused funds.--Any advances or reimbursements
not used by U.S. Customs and Border Protection may be returned
to the relevant airport authority.
(3) Rule of construction.--Nothing in this subsection may
be construed to preclude the use of appropriated funds, from
sources other than the payments collected under this Act, to
pay initial preclearance operation costs.
(d) Initial Preclearance Operations Costs Defined.--
(1) In general.--In this section, the term ''initial
preclearance operations costs'' means the costs incurred, or
expected to be incurred, by U.S. Customs and Border Protection
to establish or maintain preclearance operations at an airport
in a foreign country, including costs relating to--
(A) hiring, training, and equipping new officers of
U.S. Customs and Border Protection who will be
stationed at United States domestic ports of entry or
other facilities of U.S. Customs and Border Protection
to backfill such officers to be stationed at an airport
in a foreign country to conduct preclearance
operations; and
(B) visits to the airport authority conducted by
personnel of U.S. Customs and Border Protection
necessary to prepare for the establishment or
maintenance of preclearance operations at such airport,
including the compensation, travel expenses, and
allowances payable to such personnel attributable to
such visits.
(2) Exception.--The costs described in paragraph (1)(A)
shall not include the salaries and benefits of new officers of
U.S. Customs and Border Protection once such officers are
permanently stationed at a domestic United States port of entry
or other domestic facility of U.S. Customs and Border
Protection after being hired, trained, and equipped.

SEC. 3. COLLECTION AND DISPOSITION OF FUNDS COLLECTED FOR IMMIGRATION
INSPECTION SERVICES AND PRECLEARANCE ACTIVITIES.

(a) Immigration and Nationality Act.--Section 286(i) of the
Immigration and Nationality Act (8 U.S.C. 1356(i)) is amended by
striking the last sentence and inserting ''Reimbursements under this
subsection may be collected in advance of the provision of such
immigration inspection services. Notwithstanding subsection (h)(1)(B),
and only to the extent provided in appropriations Acts, any amounts
collected under this subsection shall be credited as offsetting
collections to the currently applicable appropriation, account, or fund
of U.S. Customs and Border Protection, remain available until expended,
and be available for the purposes for which such appropriation,
account, or fund is authorized to be used.''.
(b) Farm Security and Rural Investment Act of 2002.--Section
10412(b) of the Farm Security and Rural Investment Act of 2002 (7
U.S.C. 8311(b)) is amended to read as follows:
''(b) Funds Collected for Preclearance.--Funds collected for
preclearance activities--
''(1) may be collected in advance of the provision of such
activities;
''(2) shall be credited as offsetting collections to the
currently applicable appropriation, account, or fund of U.S.
Customs and Border Protection;
''(3) shall remain available until expended;
''(4) shall be available for the purposes for which such
appropriation, account, or fund is authorized to be used; and
''(5) may be collected and shall be available only to the
extent provided in appropriations Acts.''.

SEC. 4. EXPANSION OF PRECLEARANCE AT FOREIGN AIRPORTS.

(a) Findings.--Congress makes the following findings:
(1) Preclearance operations provide the ultimate ability
for the United States to address potential threats at the
earliest possible moment and prior to departure, through the
forward deployment of officers of U.S. Customs and Border
Protection to last points of departure in a foreign country.
(2) With inspections and examination operations of U.S.
Customs and Border Protection located in a foreign country,
preclearance provides the capability to interdict, address, and
work with host-country law enforcement in furtherance of both
aviation security and border security in the United States.
(3) Under current preclearance operations, officers of the
U.S. Customs and Border Protection collect biometrics in the
same way that is currently done upon arrival in the United
States, in accordance with current regulation, and as part of
the routine entry process from certain aliens who are not
citizens of the United States prior to boarding flights
destined to the United States.
(4) Preclearance operations provide the best means for
existing and future biometric security capabilities beyond the
United States. Support for preclearance expansion will greatly
increase border and aviation security in the United States and
foreign countries.
(b) Sense of Congress.--It is the sense of Congress that each
country designated as a visa waiver program country under section 217
of the Immigration and Nationality Act (8 U.S.C. 1187) should seek to
participate in the preclearance program with the United States, to
jointly address security concerns through additional exchange of
information and to improve joint ability to secure the that visa waiver
program while maintaining the original intent of the program.

SEC. 5. BIOMETRIC DEMONSTRATION PROGRAMS AT PRECLEARANCE LOCATIONS.

(a) Authority.--The Secretary of Homeland Security is authorized to
select preclearance locations, including preclearance expansion
locations, and enter into an agreement with a foreign government or
airport to conduct a collaborative biometric demonstration program at
such a location to test emerging biometric technologies. The scope of
the demonstration program may encompass travelers other than those
utilizing preclearance at such a location, provided that such program
includes means for information sharing with U.S. Customs and Border
Protection operations.
(b) International Cooperation and Coordination.--Section 233(a) of
the Security and Accountability For Every Port Act of 2006 (6 U.S.C.
983(a)) is amended--
(1) in paragraph (1), by striking the period at the end and
inserting '', and to establish and maintain, in partnership
with foreign governments, demonstration programs to test
emerging biometric technologies at foreign airports at which
the Secretary has established preclearance operations.''; and
(2) in paragraph (2)--
(A) in subparagraph (A), by striking ''and'' at the
end;
(B) in subparagraph (B), by striking the period at
the end and inserting a semicolon and ''and''; and
(C) by adding the following:
''(C) lease, loan, provide, or otherwise assist in
the deployment of biometric technologies at foreign
airports at which the Secretary has established
preclearance operations under such terms and conditions
as the Secretary prescribes, including nonreimbursable
loans or the transfer of ownership of such
technologies, and provide the necessary training and
technical assistance related to the biometric
demonstration programs referred to in paragraph (1).''.

SEC. 6. VISA WAIVER PROGRAM REQUIREMENTS.

(a) Information Sharing Process.--The Director of National
Intelligence shall--
(1) develop a process to share information derived from the
Terrorist Identities Datamart Environment (TIDE) database and
the Terrorist Screening Database (TSDB), including biometric
and biographic information, with countries participating in the
visa waiver program established under section 217(a) of the
Immigration and Nationality Act (8 U.S.C. 1187(a)); and
(2) not later than 1 year after the date of the enactment
of this Act, certify to Congress that such process may be
utilized by such countries.
(b) Continuing Qualification and Designation Terminations.--
Subsection (c) of section 217 of the Immigration and Nationality Act (8
U.S.C. 1187) is amended--
(1) in paragraph (1), by striking ''Attorney General,'' and
inserting ''Secretary of Homeland Security,''; and
(2) in paragraph (2)--
(A) in subparagraph (C)(iii)--
(i) by striking ''and the Committee on
International Relations'' and inserting '', the
Committee on Foreign Affairs, and the Committee
on Homeland Security''; and
(ii) by striking ''and the Committee on
Foreign Relations'' and inserting '', the
Committee on Foreign Relations, and the
Committee on Homeland Security and Governmental
Affairs''; and
(B) by adding at the end the following:
''(G) Border security.--The government of the
country utilizes the process developed by the Director
of National Intelligence under section 6(a) of the
Travel Facilitation and Safety Act of 2015 to utilize
information derived from the Terrorist Identities
Datamart Environment (TIDE) database and the Terrorist
Screening Database (TSDB) for border security and
immigration purposes, including the screening of aliens
seeking asylum or refugee status in that country.''.

SOLUTION: Travel Facilitation and Safety Act of 2015 This bill authorizes the U.S. Customs and Border Protection (CBP) of the Department of Homeland Security (DHS) to enter into cost-sharing agreements with airport authorities in foreign countries at which preclearance operations will be established or maintained if certain circumstances apply. Any cost-sharing agreement may provide for an airport authority's payment to the CBP of its initial preclearance operations costs. The Immigration and Nationality Act is amended with respect to reimbursements to the Department of Justice received from commercial aircraft or vessel owners, operators, or agents, or from any airport or seaport authority, for expenses incurred for immigration inspection services they have requested. Such reimbursements may be collected in advance of those services, and shall be credited as offsetting collections to the currently applicable CBP appropriation, account, or fund. The Farm Security and Rural Investment Act of 2002 is amended to make the same disposition for reimbursements to the Department of Agriculture for preclearance of animals or articles at locations outside the United States for movement into the United States. The bill expresses the sense of Congress that each visa waiver program country should seek to participate in the U.S. preclearance program. DHS may select preclearance locations and enter into agreements with foreign governments or airports to conduct a collaborative demonstration program at those locations to test emerging biometric technologies. The Office of the Director of National Intelligence shall develop a process to share information derived from the Terrorist Identities Datamart Environment database and the Terrorist Screening Database with countries participating in the visa waiver program.

PROBLEM: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Renewable Energy Investment Act of
2003.''

SEC. 2. DEFINITIONS.

In this Act:
(1) Biomass.--
(A) In general.--The term ''biomass'' means--
(i) organic material from a plant that is
planted for the purpose of being used to
produce energy;
(ii) nonhazardous, cellulosic or
agricultural waste material that is segregated
from other waste materials and is derived
from--
(I) a forest-related resource,
including--
(aa) mill and harvesting
residue;
(bb) precommercial
thinnings;
(cc) slash; and
(dd) brush;
(II) an agricultural resource,
including--
(aa) orchard tree crops;
(bb) vineyards;
(cc) grains;
(dd) legumes;
(ee) sugar; and
(ff) other crop byproducts
or residues; or
(III) miscellaneous waste such as--
(aa) waste pallet;
(bb) crate; and
(cc) landscape or right-of-
way tree trimmings; and
(iii) animal waste that is converted to a
fuel rather than directly combusted, the
residue of which is converted to a biological
fertilizer, oil, or activated carbon.
(B) Exclusions.--The term ''biomass'' does not
include--
(i) incineration of municipal solid waste;
(ii) recyclable postconsumer waste paper;
(iii) painted, treated, or pressurized
wood;
(iv) wood contaminated with plastic or
metal; or
(v) tires.
(2) Distributed generation.--The term ''distributed
generation'' means reduced electricity consumption from the
electric grid due to use by a customer of renewable energy
generated at a customer site.
(3) Incremental hydropower.--The term ''incremental
hydropower'' means additional generation achieved from
increased efficiency after January 1, 2003, at a hydroelectric
dam that was placed in service before January 1, 2003.
(4) Landfill gas.--The term ''landfill gas'' means gas
generated from the decomposition of household solid waste,
commercial solid waste, or industrial solid waste disposed of
in a municipal solid waste landfill unit (as those terms are
defined in regulations promulgated under subtitle D of the
Solid Waste Disposal Act (42 U.S.C. 6941 et seq.)).
(5) Renewable energy.--The term ''renewable energy'' means
electricity generated from--
(A) a renewable energy source; or
(B) hydrogen that is produced from a renewable
energy source.
(6) Renewable energy source.--The term ''renewable energy
source'' means--
(A) wind;
(B) ocean waves;
(C) biomass;
(D) solar sources;
(E) landfill gas;
(F) incremental hydropower; or
(G) a geothermal source.
(7) Retail electric supplier.--The term ''retail electric
supplier'', with respect to any calendar year, means a person
or entity that--
(A) sells retail electricity to consumers; and
(B) sold not less than 500,000 megawatt-hours of
electric energy to consumers for purposes other than
resale during the preceding calendar year.
(8) Secretary.--The term ''Secretary'' means the Secretary
of Energy.

SEC. 3. RENEWABLE ENERGY GENERATION STANDARDS.

(a) Renewable Energy Credits.--
(1) In general.--For each calendar year beginning in
calendar year 2006, each retail electric supplier shall submit
to the Secretary, not later than April 30 of each year,
renewable energy credits in an amount equal to the required
annual percentage of the retail electric supplier's total
amount of kilowatt-hours of nonhydropower electricity sold to
consumers during the previous calendar year.
(2) Carryover of renewable energy credits.--A renewable
energy credit for any year that is not used to satisfy the
minimum requirement for that year may be carried over for use
within the next 2 years.
(b) Required Annual Percentage.--Of the total amount of
nonhydropower electricity sold by each retail electric supplier during
a calendar year, the amount generated by renewable energy sources shall
be not less than the percentage specified below:

Calendar year: Percentage of Renewable energy each
year:
2006-2009..................................... 5
2010-2014..................................... 10
2015-2019..................................... 15
2020 and subsequent years..................... 20.
(c) Submission of Renewable Energy Credits.--
(1) In general.--To meet the requirements under subsection
(a), a retail electric supplier shall submit to the Secretary--
(A) renewable energy credits issued to the retail
electric supplier under subsection (e);
(B) renewable energy credits obtained by purchase
or exchange under subsection (f);
(C) renewable energy credits purchased from the
United States under subsection (g); or
(D) any combination of renewable energy credits
obtained under subsections (e), (f), and (g).
(2) No double counting.--A renewable energy credit may be
counted toward compliance with subsection (a) only once.
(d) Renewable Energy Credit Program.--Not later than 1 year after
the date of enactment of this Act, the Secretary shall establish a
program to issue, monitor the sale or exchange of, and track renewable
energy credits.
(e) Issuance of Renewable Energy Credits.--
(1) Application.--
(A) In general.--Under the program established
under subsection (d), an entity that generates electric
energy through the use of a renewable energy resource
may apply to the Secretary for the issuance of
renewable energy credits.
(B) Contents.--An application under subparagraph
(A) shall indicate--
(i) the type of renewable energy resource
used to produce the electric energy;
(ii) the State in which the electric energy
was produced; and
(iii) any other information that the
Secretary determines to be appropriate.
(2) Issuances.--
(A) In general.--Except as provided in subparagraph
(C), the Secretary shall issue to an entity applying
under this subsection 1 renewable energy credit for
each kilowatt-hour of renewable energy generated in any
State from the date of enactment of this Act and in
each subsequent calendar year.
(B) Vesting.--A renewable energy credit will vest
with the owner of the system or facility that generates
the renewable energy unless the owner explicitly
transfers the renewable energy credit.
(C) Amount.--The Secretary shall issue 3 renewable
energy credits for each kilowatt-hour of distributed
generation.
(3) Eligibility.--
(A) In general.--To be eligible for a renewable
energy credit, the unit of electricity generated
through the use of a renewable energy resource shall be
sold for retail consumption or used by the generator.
(B) Energy generated from a combination of
sources.--If both a renewable energy resource and a
nonrenewable energy resource are used to generate the
electric energy, the Secretary shall issue renewable
energy credits based on the proportion of the renewable
energy resource used.
(C) Identification of type and date.--The Secretary
shall identify renewable energy credits by the type and
date of generation.
(4) Sale under contract under purpa.--In a case in which a
generator sells electric energy generated through the use of a
renewable energy resource to a retail electric supplier under a
contract subject to section 210 of the Public Utilities
Regulatory Policies Act of 1978 (16 U.S.C. 824a-3), the retail
electric supplier shall be treated as the generator of the
electric energy for the purposes of this Act for the duration
of the contract.
(f) Sale or Exchange of Renwable Energy Credits.--
(1) In general.--A renewable energy credit may be sold or
exchanged by the entity issued the renewable energy credit or
by any other entity that acquires the renewable energy credit.
(2) Manner of sale.--A renewable energy credit may be sold
or exchanged in any manner not in conflict with existing law,
including on the spot market or by contractual arrangements of
any duration.
(g) Purchase From the United States.--
(1) In general.--The Secretary shall offer renewable energy
credits for sale at the lesser of 3 cents per kilowatt-hour or
110 percent of the average market value of renewable energy
credits for the applicable compliance period.
(2) Adjustment for inflation.--On January 1 of each year
following calendar year 2006, the Secretary shall adjust for
inflation the price charged per renewable energy credit for the
calendar year.
(h) State Programs.--Nothing in this section precludes any State
from requiring additional renewable energy generation in the State
under any renewable energy program conducted by the State not in
conflict with this Act.
(i) Consumer Allocation.--
(1) Rates.--The rates charged to classes of consumers by a
retail electric supplier shall reflect a proportional
percentage of the cost of generating or acquiring the required
annual percentage of renewable energy under subsection (a).
(2) Representations to customers.--A retail electric
supplier shall not represent to any customer or prospective
customer that any product contains more than the percentage of
eligible resources if the additional amount of eligible
resources is being used to satisfy the renewable generation
requirement under subsection (a).
(j) Enforcement.--
(1) In general.--A retail electric supplier that does not
submit renewable energy credits as required under subsection
(a) shall be liable for the payment of a civil penalty.
(2) Amount.--The amount of a civil penalty under paragraph
(1) shall be calculated on the basis of the number of renewable
energy credits not submitted, multiplied by the lesser of 4.5
cents or 300 percent of the average market value of renewable
energy credits for the compliance period.
(k) Information Collection.--The Secretary may collect the
information necessary to verify and audit--
(1) the annual electric energy generation and renewable
energy generation of any entity applying for renewable energy
credits under this section;
(2) the validity of renewable energy credits submitted by a
retail electric supplier to the Secretary; and
(3) the quantity of electricity sales of all retail
electric suppliers.
(l) Voluntary Participation.--The Secretary may issue a renewable
energy credit under subsection (e) to any entity not subject to the
requirements of this Act only if the entity applying for the renewable
energy credit meets the terms and conditions of this Act to the same
extent as entities subject to this Act.

SEC. 4. STATE RENEWABLE ENERGY GRANT PROGRAM.

(a) Distribution of Amounts.--The Secretary shall distribute
amounts received from sales under subsection 3(h) and from amounts
received under subsection 3(k) to States to be used for the purposes of
this section.
(b) Program.--
(1) In general.--Not later than 1 year after the date of
enactment of this Act, the Secretary shall establish a program
to promote State renewable energy production and use.
(2) Use of funds.--The Secretary shall make funds available
under this section to State energy agencies for grant programs
for--
(A) renewable energy research and development;
(B) loan guarantees to encourage construction of
renewable energy facilities;
(C) consumer rebate or other programs to offset
costs of small residential or small commercial
renewable energy systems including solar hot water; or
(D) promotion of distributed generation.
(c) Preference.--In allocating funds under the program, the
Secretary shall give preference to--
(1) States that have a disproportionately small share of
economically sustainable renewable energy generation capacity;
and
(2) State grant programs that are most likely to stimulate
or enhance innovative renewable energy technologies.

SOLUTION:
Renewable Energy Investment Act of 2003 - Requires each retail electric supplier to submit annually to the Secretary of Energy renewable energy credits according to a prescribed annual percentage of the supplier's total amount of kilowatt-hours of nonhydropower electricity sold to consumers during the previous calendar year.

Requires each retail electric supplier during a calendar year to generate a specified percentage of nonhydropower electricty by renewable energy sources, escalating from five percent during calendar 2006 through 2009 by five percent increments during subsequent five-year periods up to twenty percent in calendar 2020 and beyond.

Directs the Secretary to establish a program to issue, monitor the sale or exchange of, and track renewable energy credits.

Authorizes any entity that is issued or has acquired a renewable energy credit to sell or exchange it. Requires the Secretary to sell credits at prices determined by a certain formula.

Subjects to a civil penalty a retail electric supplier who does not submit the requisite renewable energy credits.

Authorizes the Secretary to distribute receipts from sales to the States in order to promote State renewable energy production and use.