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

This Act may be cited as the ''Reduce and End our Deficits Using
Commonsense Eliminations in the Energy Program Act of 2010''.

SEC. 2. TERMINATION OF PAYMENTS TO CERTIFIED STATES AND INDIAN TRIBES
UNDER ABANDONED MINE LANDS PROGRAM.

The Surface Mining Control and Reclamation Act of 1977 (30 U.S.C.
1201 et seq.) is amended--
(1) in section 402(g)(1)(A)(ii), by striking ''or
pursuant'' and all that follows through the end of the sentence
and inserting a period;
(2) in section 402(g)(1)(B)(ii), by striking ''or
pursuant'' and all that follows through the end of the sentence
and inserting a period; and
(3) by amending section 411 to read as follows:

''SEC. 411. CERTIFICATION.

''(a) Certification Required.--The Secretary shall determine and
certify if on the basis of the inventory referred to in section 403(c)
all reclamation projects relating to the priorities described in
section 403(a) for eligible land and water pursuant to section 404 in a
State or of a tribe have been completed.
''(b) Notice and Comment.--The Secretary shall publish notice in
the Federal Register and provide an opportunity for public comment
regarding any certification under subsection (a).
''(c) Limitation on Payments to Certified States and Indian
Tribes.--
''(1) In general.--Except as provided in paragraph (2), and
notwithstanding any other provision of this Act, no payment may
be made under this Act to a State or Indian tribe for which a
determination and certification is required under subsection
(a).
''(2) Payments for health benefits not affected.--Paragraph
(1) shall not apply with respect to payments under subsections
(h) and (i) of section 402.''.

SEC. 3. TERMINATE OIL AND GAS COMPANY TAX PREFERENCES.

(a) Repeal Enhanced Oil Recovery Credit.--Section 43 of the
Internal Revenue Code of 1986 is amended by adding at the end the
following new subsection:
''(f) Termination.--This section shall not apply to any amount,
costs, or expenses paid or incurred after the date of the enactment of
this subsection.''.
(b) Repeal Credit for Oil and Gas Produced From Marginal Wells.--
Section 45I of the Internal Revenue Code of 1986 is amended by adding
at the end the following new subsection:
''(e) Termination.--This section shall not apply to any production
after December 31, 2010.''.
(c) Repeal Expensing of Intangible Drilling Costs.--Subsection (c)
of section 263 of the Internal Revenue Code of 1986 is amended by
adding at the end the following new sentence: ''This subsection shall
not apply to any expense relating to an oil or gas well paid or
incurred after December 31, 2010.''.
(d) Repeal Deduction for Tertiary Injectants.--Section 193 of such
Code is amended by adding at the end the following new subsection:
''(d) Termination.--Subsection (a) shall not apply to any amount
paid or incurred after the date of the enactment of this subsection.''.
(e) Repeal Exception to Passive Loss Limitation for Working
Interests in Oil and Natural Gas Properties.--Subsection (c) of section
469 of such Code is amended by striking paragraph (3) (relating to
working interests in oil and gas property).
(f) Repeal Percentage Depletion for Oil and Natural Gas Wells.--
(1) In general.--Section 613A of the Internal Revenue Code
of 1986 is amended by adding at the end the following new
subsection:
''(f) Termination.--After December 31, 2010, this section and
section 611 shall not apply to any oil or gas well.''.
(2) Conforming amendment.--Section 613A(c)(1) of such Code
is amended by striking ''subsection (d)'' and inserting
''subsections (d) and (f)''.
(g) Repeal Domestic Manufacturing Tax Deduction for Oil and Natural
Gas Companies.--
(1) In general.--Subparagraph (B) of section 199(c)(4) of
such Code is amended by striking ''and'' at the end of clause
(ii), by striking the period at the end of clause (iii) and
inserting '', and'', and by inserting after clause (iii) the
following:
''(iv) production or extraction relating to
any oil or gas.''.
(2) Conforming amendment.--Section 199(c)(4)(A)(i)(III) of
such Code is amended by striking '', natural gas,''.
(h) Increase Geological and Geophysical Amortization Period for
Independent Producers to Seven Years.--
(1) In general.--Paragraphs (1) and (4) of section 167(h)
of such Code is amended by striking ''24-month'' both places it
appears and inserting ''7-year''.
(2) Conforming amendment.--Section 167(h) of such Code is
amended by striking paragraph (5).
(i) Effective Date.--
(1) The amendments made by subsection (a), (c), (e), and
(f) shall apply to amounts paid or incurred in taxable years
beginning after December 31, 2010.
(2) The amendments made by subsections (b), (d), (g), and
(h) shall apply to amounts paid or incurred in taxable years
beginning after December 31, 2010.

SEC. 4. DEPARTMENT OF ENERGY OIL AND GAS RESEARCH AND DEVELOPMENT.

Sections 965 through 967 of the Energy Policy Act of 2005 (42
U.S.C. 16295-16297) are repealed.

SEC. 5. NUCLEAR WASTE REPOSITORY.

The Secretary of Energy shall discontinue the application before
the Nuclear Regulatory Commission for a license to construct a high-
level nuclear waste geologic repository at Yucca Mountain, Nevada.

SEC. 6. SALE OF CERTAIN SEPA AND TVA FACILITIES.

(a) Sale of Southeastern Power Administration and TVA Facilities.--
(1) Southeastern power administration and related
facilities.--
(A) Sale of southeastern power administration and
related power generating assets.--The Secretary of
Energy shall develop and carry out a plan to provide
for the sale of the electric energy generation
facilities that are currently owned and operated by
Federal departments and agencies under the supervision
of, or working in coordination with, the Southeastern
Power Administration, together with any and all other
assets, rights, interests, and obligations held or
owned by the Southeastern Power Administration. The
heads of other affected Federal departments and
agencies shall assist the Secretary of Energy in
implementing the sales authorized by this subparagraph.
(B) Exclusion of dams and reservoirs.--The
authority of the Secretary of Energy under subparagraph
(A) shall apply with respect to facilities for the
generation of electric energy, including turbines,
generators, controls, and substations, and shall not
apply with respect to any dam, reservoir, or waterfront
property.
(C) Report to congress.--At least 60 days before
implementing a plan developed under this paragraph, the
Secretary of Energy shall submit to Congress a report
containing the plan.
(2) TVA facilities.--
(A) Sale of power program.--The Tennessee Valley
Authority shall develop and carry out a plan to provide
for the sale of the rights and assets of its electric
power program.
(B) Hydroelectric facility exclusion.--The
authority of the Tennessee Valley Authority under
subparagraph (A) shall not apply with respect to any
hydroelectric power generation facility owned and
operated by the Authority (including dams and
appurtenant works and structures).
(C) Report to congress.--At least 60 days before
implementing a plan developed under this paragraph, the
Tennessee Valley Authority shall submit to Congress a
report containing the plan.
(b) Proceeds.--The proceeds of any sale under this section shall be
used first to offset the costs of carrying out the sale and the
remaining net proceeds shall be deemed to extinguish the outstanding
debt repayable to the United States and attributable to the assets
being sold. Any portion of the net proceeds that exceeds the net
present value of the outstanding debt repayable to the United States
and attributable to the assets being sold shall be deposited in the
Treasury of the United States as miscellaneous receipts.
(c) Treatment of Sales for Purposes of Certain Laws.--A sale of
assets under this section shall not be considered a disposal of Federal
surplus property under subchapter III of chapter 5 of title 40, United
States Code, or any other applicable provision of law.
(d) Date of Sale.--To be extent practicable, all sales under this
section shall be completed before December 31, 2010.
(e) Termination of the Southeastern Power Administration.--
Following the sale of the assets referred to in subsection (a)(1), the
Secretary of Energy shall complete the business of and close out the
Southeastern Power Administration and return any unexpended balances of
funds appropriated for the Southeastern Power Administration to the
Treasury of the United States.

SEC. 7. VOLUME OF STRATEGIC PETROLEUM RESERVE.

Section 154(a) of the Energy Policy and Conservation Act (42 U.S.C.
6234(a)) is amended by striking ''1 billion'' and inserting
''650,000,000''.

SEC. 8. ULTRA-DEEPWATER AND UNCONVENTIONAL NATURAL GAS AND OTHER
PETROLEUM RESOURCES.

Sections 999A through 999H of the Energy Policy Act of 2005 (42
U.S.C. 16371-16378) are repealed.
A:
Reduce and End our Deficits Using Commonsense Eliminations in the Energy Program Act of 2010 - Amends the Surface Mining Control and Reclamation Act of 1977 to terminate allocations of abandoned mine reclamation fees, except payments for health benefits, to states and Indian tribes that are certified to have completed coal mining reclamation.

Amends the Internal Revenue Code to terminate: (1) the enhanced oil recovery credit; (2) the credit for oil and gas produced from marginal wells; (3) the expensing of intangible drilling costs; (4) the deduction for tertiary injectants; (5) the exception to the passive loss limitation for working interests in oil and natural gas properties; (6) the percentage depletion deduction for oil and natural gas wells; and (7) the domestic manufacturing tax deduction for oil and natural gas companies.

Increases to seven years the geological and geophysical amortization period for independent producers.

Amends the Energy Policy Act of 2005 to repeal authority for: (1) the oil and gas research programs; (2) the low-volume oil and gas reservoir program; and (3) the Complex Well Technology Testing Facility at the Rocky Mountain Oilfield Testing Center.

Instructs the Secretary of Energy to: (1) discontinue the application before the Nuclear Regulatory Commission (NRC) for a license to construct a high-level nuclear waste geologic repository at Yucca Mountain, Nevada; (2) plan for the sale of federally owned and operated electric energy generation facilities under the supervision of, or working in coordination with, the Southeastern Power Administration (SEPA); and (3) terminate SEPA following such sale. Excludes from such sale any dam, reservoir, or waterfront property.

Directs the Tennessee Valley Authority (TVA) to sell the rights and assets of its electric power program. Excludes from the sale any hydroelectric power generation facility owned and operated by TVA (including dams and appurtenant works and structures).

Deems the remaining net proceeds from any such sale, after offset for sale costs, to extinguish the outstanding debt repayable to the United States and attributable to the assets being sold.

Amends the Energy Policy and Conservation Act to decrease the storage capacity of the Strategic Petroleum Reserve from 1 billion to 650 million barrels.

Amends the Energy Policy Act of 2005 to repeal the Secretary's program authority for research, development, demonstration, and commercial application of technologies for ultra-deepwater and unconventional natural gas and other petroleum resource exploration and production.