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

This Act may be cited as the ''Environmental Priorities Act of
2003''.

SEC. 2. RECAPTURE OF SAVINGS FROM RETAIL ELECTRICITY COMPETITION.

(a) Effective Date.--This Act shall take effect for a consumer
sector in any State on January 1 of the first year after all State
regulated electric utilities and all nonregulated electric utilities in
that State have been determined by the Secretary of Energy to have
established retail electric service choice for customers in that
sector, but not earlier than January 1, 2004. The Secretary shall
annually review the laws and regulations of each State relating to
retail electric service regulation and make such determinations on
January 1, 2004, and January 1 of each year thereafter.
(b) 10 Percent of Consumer Savings.--For each State, on December 31
of the first full calendar year following the effective date of this
Act for any consumer sector in the State, and on December 31 of each
subsequent calendar year, each provider of retail electric services in
the State shall contribute to the fiscal agent for the Environmental
Priorities Board established under section 2 an amount equal to 10
percent of the total consumer savings for that sector for that calendar
year.
(c) Definitions.--For purposes of this section:
(1) Consumer savings.--For any provider of retail electric
services in a State, for any consumer sector in the State, the
term ''consumer savings'' means, for any calendar year, the
amount (if any) by which the potential rate for electric energy
provided by that provider to that sector exceeds the current
rate for that sector, multiplied by that sector's total
consumption (in kilowatt-hours) during that calendar year.
(2) Current rate.--For any provider of retail electric
services in a State, for any consumer sector in the State, the
term ''current rate'' means, for the 12 months following the
effective date of this Act for that sector in that State, the
average kilowatt-hour rate paid by customers of the provider in
that consumer sector in that State, as calculated by the
provider and recalculated annually.
(3) Potential rate.--
(A) General rule.--For any provider of retail
electric services in a State, for any consumer sector
in the State, the term ''potential rate'' means, for
each calendar year following the effective date of this
act for that sector in that State, the average
kilowatt-hour rate paid by the provider's customers in
that sector during the 12-month period preceding the
date on which retail electric service choice for
customers in that sector was established, adjusted for
inflation. The adjustment for inflation shall be made
using a methodology to be determined by the Secretary
of Energy. The Secretary of Energy shall recalculate
the potential rate annually to adjust it for inflation.
(B) Special rules.-- For all sectors not serviced
by the provider during any period, the average
kilowatt-hour rate for that sector shall be estimated
or measured by the Secretary of Energy. In any case
where retail choice in a State or sector did not all
occur on one effective date but was phased-in over
time, the Secretary of Energy shall establish
regulations to fairly establish the potential rate. In
any cases where, for the 12-month period preceding the
date on which retail electric service choice for
customers in that sector was established, a provider
served a sector in the State but did not serve it for
the full period, the Secretary of Energy shall
establish regulations to fairly establish the potential
rate.

SEC. 3. USE OF CONTRIBUTIONS FOR ENVIRONMENTAL PRIORITIES.

(a) National Environmental Priorities Board.--The Administrator of
the Environmental Protection Agency (hereinafter in this section
referred to as the ''Administrator'') shall establish a National
Environmental Priorities Board to carry out the functions and
responsibilities specified in this section. The Board shall be composed
of 3 persons who are officers or employees of the United States, and 4
State commissioners nominated by the national organization of the State
commissions and appointed by the Administrator. The Administrator shall
appoint one member of the Board to serve as Chairman.
(b) Rules.--Within 180 days after the enactment of this Act, the
Administrator shall promulgate a final rule containing the rules and
procedures of the Board, including the rules and procedures for
selecting a non-Federal fiscal agent under subsection (e). The
Administrator shall have oversight responsibilities over the Board.
(c) Environmental Priorities Program.--
(1) Regulations.--Within 90 days after the promulgation of
the Administrator's rules under subsection (b), the Board shall
institute a proceeding to establish regulations governing
creation and administration of an Environmental Priorities
Program. Such regulations shall include criteria and methods of
selecting State projects to receive support under the Program.
Such support may include direct loans, loan guarantees, grants,
capitalization grants for State revolving funds, and other
assistance. The State projects may include--
(A) lowering borrowing costs for municipal and
regional governments constructing wastewater treatment
plants;
(B) increasing the use of filter strips and
riparian buffers in protecting rivers and streams;
(C) mitigating the deleterious effect of
electricity production on air quality;
(D) supporting the preservation of open space for
resource conservation, wildlife protection, or
recreation; and
(E) such other projects furthering national
environmental priorities as may be established by the
Board.
(2) Agent.--The Board shall enter into arrangements with a
non-Federal fiscal agent who shall be authorized to receive the
contributions made under section 2(b) and to disburse such
contributions as provided in subsection (d).
(3) Programs.--Any State in which retail electric service
choice has been established for any consumer sector may
establish one or more public purpose programs and apply for
matching funding under this section for projects to be funded
under such program. A participating State may use matching
funds received under this section only to support one or more
eligible environmental priorities programs meeting the
selection criteria established under paragraph (1). The Board
shall regularly audit the expenditures of matching funds
received by a participating State under this section.
(4) State option.--At no time shall a State be required,
pursuant to this section, to participate in the Environmental
Priorities Program, nor may a State be required by the Board to
fund a particular project.
(d) Fund for Environmental Priorities.--
(1) Distribution.--The fiscal agent shall distribute
contributions received by the fiscal agent under section 2(b)
to States (or entities designated by the States) under this
subsection in accordance with the criteria established by the
Board under subsection (c) to carry out eligible projects under
environmental priorities programs established by the States.
For each calendar year after the year 2002, the Board shall
solicit applications from States for matching funds to carry
out eligible environmental priorities programs. The
applications for assistance during any calendar year must be
received by the Board before the commencement of such year. In
its application, the State shall certify that the moneys will
be used for one or more eligible public purpose programs and
shall specify the amount of State support which is projected
for the coming calendar year for the programs concerned.
(2) Calculation.--Upon receipt of all State requests for
matching funds submitted pursuant to paragraph (1) for any
calendar year, the Board shall calculate the funds necessary to
match the level of projected States funds for eligible
environmental priorities programs for that calendar year.
(3) Reduction.--Following the calculation of the amount of
matching funds required under paragraph (2) for all States
requesting funds for any calendar year, the Board shall
communicate that amount to the fiscal agent. Expenditures by
the fiscal agent for any calendar year may not exceed the total
balance. To the extent the matching funds requested by all such
States for a calendar year exceed the total amount received by
the fiscal agent during the prior calendar year and available
to the fiscal agent at the commencement of the calendar year
concerned, the matching funds distributed to each such State
shall be reduced pro rata so that the percentage of State funds
matched by funds provided under this section is the same for
all States requesting funds.
(4) Use of funds.--The fiscal agent shall distribute
matching funds to the States (or to an entity or entities
designated by the State to receive payments) to be used for
eligible environmental priorities programs designated under
subsection (c). All funds received shall be used only for the
eligible environmental priorities programs designated by the
State.
A:
Environmental Priorities Act of 2003 - Requires providers of retail electric services to contribute to the fiscal agent for the Environmental Priorities Board (established by this Act) ten percent of the total consumer savings for the consumer sector for that calendar year.Requires the Administrator of the Environmental Protection Agency to establish a National Environmental Priorities Board to establish regulations governing creation of an Environmental Priorities Program.Authorizes States in which retail electric service choice has been established for any consumer sector to establish public purpose programs and apply for matching funding to support environmental priorities programs.