Comprehensive American Energy Security and Consumer Protection Act - Title I: Federal Oil and Gas Leasing - Subtitle A: Outer Continental Shelf Oil and Gas Leasing - (Sec. 101) Prohibits oil and gas preleasing or leasing of any area of the Outer Continental Shelf (OCS) that was not available for oil and gas leasing as of July 1, 2008, unless that action is expressly authorized by this Act or a statute enacted by Congress after enactment of this Act. (Sec. 102) Authorizes oil and gas leasing, preleasing, or other related activities for any area that: (1) is in any OCS Planning Area in the Atlantic Ocean or Pacific Ocean located farther than 50 miles from the coastline; and (2) was not otherwise available for oil and gas leasing, preleasing, and other related activities as of July 1, 2008. (Sec. 103) Requires approval by law of an adjacent state for oil or gas leasing in any area located within 100 miles from the adjacent state's coastline and within its seaward lateral boundaries. (Sec. 104) Directs the Secretary of the Interior to: (1) ensure that any activity under this subtitle is carried out in a manner that protects the coastal environment, marine environment, and human environment of state coastal zones and the OCS: and (2) review all applicable federal regulations to ensure environmentally sound oil and gas operations on the OCS. (Sec. 105) Requires any oil and gas leasing of OCS areas to be conducted in accordance with the July 2, 1983, "Memorandum of Agreement between the Department of Defense and the Department of the Interior on Mutual Concerns On The Outer Continental Shelf" and any revisions made after January 21, 2009. Declares that the United States reserves the right to designate by and through the Secretary of Defense, with the President's approval, national defense areas on the OCS. (Sec. 106) Prohibits oil or gas leasing in: (1) any marine national monument or national marine sanctuary; or (2) the fishing grounds known as Georges Bank in the waters of the United States. (Sec. 109) Instructs the Secretary to establish goals to ensure equal opportunity to bid on offshore leases for qualified small, women-owned, and minority-owned exploration and production companies. Authorizes the Secretary to implement outreach programs for qualified historically underutilized exploration and production companies to participate in the bidding process for offshore leases. Subtitle B: Diligent Development of Federal Oil and Gas Leases - (Sec. 121) Requires: (1) diligent development of lands subject to federal oil and gas leases; and (2) the Secretary to promulgate regulations establishing what constitutes diligent development. (Sec. 124) Instructs the Secretary to collect and report to Congress annually specified resource estimates and leasing program management indicators. Subtitle C: Royalties Under Offshore Oil and Gas Leases - Royalty Relief for American Consumers Act of 2008 - (Sec. 132) Requires the Secretary to agree to any lessee request to amend any oil and gas lease issued for any Gulf of Mexico tract during 1998-1999 to incorporate specified price thresholds applicable to royalty suspensions. (Sec. 133) Reaffirms the Secretary's authority to vary royalty suspensions under certain leases based on the price of production. (Sec. 134) Prescribes eligibility requirements for new leases and lease transfers. Directs the Secretary to establish conservation of resources fees for both producing and nonproducing federal oil and gas leases in the Gulf of Mexico. (Sec. 135) Establishes a Strategic Energy Efficiency and Renewables Reserve to: (1) hold the net increase in federal receipts resulting from this Act; and (2) offset certain future costs. Subtitle D: Accountability and Integrity in the Federal Energy Program - (Sec. 141) Adds to requirements for federal receipt of oil or gas as royalties in-kind a requirement that receiving royalties in-kind be consistent with the Secretary's fiduciary duties on behalf of the American people. (Sec. 142) Requires the Secretary to take all steps necessary to ensure that lessees under leases for exploration, development, and production of oil and natural gas on federal lands are making prompt, transparent, and accurate royalty payments under such leases. (Sec. 143) Prohibits any employee of the Minerals Management Service (MMS) of the Department of the Interior from: (1) accepting gifts of any value from any prohibited source; or (2) seeking, accepting, or holding employment with any prohibited source. Sets forth administrative penalties for violation of such prohibitions. Directs the Secretary to: (1) implement a robust additional ethics training program for employees of the MMS Royalty-In-Kind division; (2) promulgate a code of ethics for all MMS employees; and (3) implement a random drug testing program specifically for Royalty-In-Kind division employees. (Sec. 144) Amends the federal criminal code to prohibit gifts of value from federal oil or mineral lease holders, or anyone seeking such a lease, to public officials of the MMS. (Sec. 145) Empowers the Inspector General of the Department of the Interior to use subpoenas to pursue any investigation involving federal property leases through the MMS for oil and mineral extraction. Subtitle E: Federal Oil and Gas Royalty Reform - (Sec. 152) Amends the Federal Oil and Gas Royalty Management Act of 1982 to revise requirements governing: (1) interest; (2) obligation period; (3) tolling agreements and subpoenas; and (4) liability for royalty payments. Subtitle F: National Petroleum Reserve in Alaska - Drill Responsibly in Leased Lands Act of 2008 - (Sec. 162) Amends the Naval Petroleum Reserves Production Act of 1976 to direct the Secretary to accelerate competitive and environmentally responsible leasing of oil and gas in the National Petroleum Reserve in Alaska, including at least one lease sale during each of calendar years 2009-2013. (Sec. 163) Directs the Federal Energy Regulatory Commission (FERC) to facilitate construction of pipelines to transport oil and natural gas from or through the Reserve to existing transportation or processing infrastructure on the North Slope of Alaska. (Sec. 164) Directs the President to coordinate with North Slope natural gas producers, federal agencies, the state of Alaska, Canadian authorities, pipeline companies, and other interested persons in order to facilitate construction of a natural gas pipeline from Alaska to U.S. markets as expeditiously as possible. (Sec. 165) Directs the President to require that pipeline operators, and their agents and contractors, negotiate to obtain a project labor agreement for the employment of laborers and mechanics on pipeline production, maintenance, and construction. Directs the Secretary of Transportation to require any federally approved pipeline operator transporting oil and gas from the North Slope to certify annually that the pipeline is being fully maintained and operated in an efficient manner. (Sec. 166) Bans the export of Alaskan oil.Subtitle G: Oil Shale - (Sec. 171) Amends the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008 to repeal the ban on: (1) final regulations regarding a commercial leasing program for oil shale resources on public lands; and (2) oil shale lease sales. Amends the Energy Policy Act of 2005 to require approval by state law of federal oil shale leasing in a state. Title II: Consumer Energy Supply - Consumer Energy Supply Act of 2008 - (Sec. 203) Prescribes conditions for the sale and replacement of oil from the Strategic Petroleum Reserve (SPR). Title III: Public Transportation - Saving Energy Through Public Transportation Act of 2008 - (Sec. 303) Authorizes appropriations for FY2008-FY2009 for two-year urbanized area and other-than-urban-area formula grants to improve public transportation services, subject to certain conditions. (Sec. 304) Requires any such grant for a project that involves acquiring clean fuel or alternative fuel vehicle-related equipment or facilities, in order to comply with the Clean Air Act, to be for 100% of the net project cost, unless the grant recipient requests a lower grant percentage. (Sec. 305) Amends the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFE-T LU), with respect to transit pass transportation fringe benefits for federal employees, to require the Secretary of Transportation to issue guidance to all federal agencies on nationwide implementation of the program. (Sec. 306) Directs the Secretary of Transportation to: (1) establish and implement a pilot program for FY2008-FY2009 to carry out vanpool demonstration projects in up to three urbanized areas and two other-than-urbanized areas; and (2) carry out a national consumer awareness program on public transportation alternatives to the use of single occupancy vehicles. Authorizes FY2009 appropriations for the latter program. (Sec. 308) Amends the Energy Independence and Security Act of 2007 to set forth circumstances in which a federal agency may enter into a contract to purchase a generally available fuel that is not an alternative or synthetic fuel or predominantly produced from a nonconventional petroleum source. Title IV: Greater Energy Efficiency in Building Codes - (Sec. 401) Amends the Energy Conservation and Production Act to revise requirements for the updating of state building energy codes. Title V: Federal Renewable Electricity Standard - (Sec. 501) Amends the Public Utility Regulatory Policies Act of 1978 (PURPA) to prescribe a federal renewable electricity standard, including renewable energy and energy efficiency credits for retail electric suppliers. Establishes in the Treasury a state renewable energy and energy efficiency account program. Title VI: Green Resources for Energy Efficient Neighborhoods - Green Resources for Energy Efficient Neighborhoods Act of 2008 or the GREEN Act of 2008 - (Sec. 603) Directs the Secretary of Housing and Urban Development (HUD) to issue regulations necessary to establish annual energy efficiency participation incentives to encourage participants in HUD programs to achieve substantial improvements in energy efficiency. (Sec. 604) Establishes minimum HUD energy efficiency standards, including green building standards, for residential single family or multi-family structures. Requires the HUD Secretary to adopt by regulation energy efficiency requirements, standards, checklists, or rating systems applicable to nonresidential structures. Prescribes an additional credit for residential or nonresidential structures that comply with enhanced energy efficiency and conservation standards. (Sec. 605) Sets forth an energy efficiency and conservation demonstration program for multi-family housing projects assisted with project-based rental assistance. Authorizes appropriations. (Sec. 606) Amends the Housing and Community Development Act of 1992, as amended by the Federal Housing Finance Regulatory Reform Act of 2008, to require the Director of the Federal Housing Finance Agency (FHFA) to assign an additional credit for compliance with Federal Mortgage Insurance Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) housing goals for energy efficient mortgages. (Sec. 607) Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to impose a duty upon Fannie Mae and Freddie Mac to develop loan products and flexible underwriting guidelines to facilitate a secondary market for energy-efficient and location-efficient mortgages on housing for very low-, low-, and moderate income families, and for second and junior mortgages made for purposes of energy efficiency or renewable energy improvements, or both. (Sec. 608) Amends the National Housing Act regarding Federal Housing Administration (FHA) mortgage insurance (including loan guarantees for Native Americans and Native Hawaiians) to require the HUD Secretary to establish a method to consider, in its underwriting standards for mortgages on single-family housing meeting specified energy efficiency standards, the impact that savings on utility costs has on the mortgagor's income. Expresses the sense of Congress that the HUD Secretary should endeavor to insure mortgages on single-family housing meeting specified energy efficiency standards such that at least 50,000 such mortgages are insured between enactment of this Act and December 31, 2012. (Sec. 609) Amends the Energy Policy Act of 1992 to instruct the Secretary of Energy to establish a commission to develop and recommend model mortgage products and underwriting guidelines that provide market-based incentives to prospective home buyers, lenders, and sellers to incorporate energy efficiency upgrades in new mortgage loan transactions. Authorizes appropriations for FY2009-FY2012. (Sec. 610) Amends the Home Mortgage Disclosure Act of 1975 to require the collection of information on energy-efficient and location-efficient mortgages. (Sec. 611) Makes it unlawful for an insurer to deny homeowners insurance coverage for a certain kind of residential structure, or otherwise to discriminate in the issuance, cancellation, amount of such coverage, or conditions of such coverage, based solely and without any additional actuarial risks upon the fact that the structure is not connected to, or able to receive electricity service from, any wholesale or retail electric power provider. (Sec. 612) Requires the HUD Secretary to establish mortgage incentives for energy-efficient multi-family housing. (Sec. 613) Amends the National Housing Act to repeal an exemption for manufactured homes, thus requiring the HUD Secretary to promote the use of energy saving techniques through minimum property standards for such homes. Requires energy performance requirements developed for manufactured homes to require Energy Star rating for wall fixtures, appliances, and equipment in such housing. Directs the HUD Secretary to require that any energy efficiency or conservation approval or certification of single- or multi-family residential housing subject to an insured mortgage, and any approval or certification required for energy conserving improvements or any renewable energy sources, be conducted only by an accredited individual certified by a home energy rating system provider. (Sec. 614) Directs the HUD Secretary to develop a pilot program to facilitate the financing of cost-effective capital improvements for certain assisted housing projects to improve their energy efficiency and conservation. (Sec. 615) Amends the Housing and Community Development Act of 1974 to set forth a residential energy efficiency block grant program. (Sec. 616) Amends the Cranston-Gonzalez National Affordable Housing Act to include sustainable development within comprehensive housing affordability strategies. (Sec. 617) Authorizes the HUD Secretary to make grants to nonprofit organizations to increase low-income community development capacity. Authorizes appropriations for FY2008-FY2012. (Sec. 618) Amends the United States Housing Act of 1937 with respect to the use of certain grants for activities to carry out revitalization programs for severely distressed public housing. Directs the HUD Secretary to provide that a public housing agency (PHA) shall receive the full financial benefit from any reduction in the cost of utilities resulting from any contract to undertake energy conservation improvements in connection with a revitalization plan. (Sec. 619) Prohibits the Secretary from making a site revitalization grant unless the applicant's proposed revitalization plan meets specified HOPE VI Green Developments, Green Communities, and Green Buildings certification requirements. (Sec. 620) Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to require that renewable energy sources and energy-efficiency improvements be considered in appraisals in federally related transactions. (Sec. 621) Directs the HUD Secretary to require the Housing Assistance Council to: (1) encourage each organization receiving Council assistance to provide that any structures and buildings developed or assisted under projects, programs, and activities so funded comply with enhanced energy efficiency requirements; and (2) establish incentives to encourage each such organization to do so. (Sec. 622) Requires the Secretary to: (1) encourage each tribe, agency, organization, corporation, and other entity receiving assistance from the HUD Office of Rural Housing and Economic Development to provide, similarly, that any structures and buildings developed or assisted under activities so funded comply with energy efficiency requirements; and (2) establish incentives to encourage each such entity to do so. (Sec. 623) Establishes in the Treasury the Alternative Energy Sources State Loan Fund from which the HUD Secretary shall provide loans to states and Indian tribes to provide incentives to owners of single-family and multi-family housing, commercial properties, and public buildings to carry out renewable energy sources activities. Authorizes appropriations. (Sec. 624) Amends the Federal Deposit Insurance Act to direct the federal banking agencies to prescribe guidelines encouraging the establishment and maintenance of "green banking" centers by insured depository institutions to provide any consumer who seeks information on obtaining a mortgage, home improvement loan, or home equity loan with additional information on obtaining: (1) an home energy rating or audit for the residence for which such mortgage or loan is sought; (2) financing for cost-effective energy-saving improvements to such property; and (3) beneficial terms for any mortgage or loan, or qualifying for a larger mortgage or loan, secured by a residence which meets or will meet energy-efficiency standards. (Sec. 625) Requires the HUD Secretary to obtain from each PHA and report to Congress information on the energy costs for public housing the PHA administers or operates. Title VII: Miscellaneous Provisions - (Sec. 701) Requires each retail automotive fueling station owned by a major integrated oil company to have at least one alternative fuel pump (and necessary infrastructure and storage facilities) available to dispense alternative fuel for automotive purposes. Establishes a civil penalty for failure to comply with this requirement. (Sec. 702) Directs the Secretary of Energy to award a competitive grant to one consortium of institutions of higher education to establish a National Energy Center of Excellence to conduct research and education activities in geological and geothermal sciences, renewable energy and energy efficiency (including energy technology using clean coal, solar, wind, oil, natural gas, hydroelectric, biofuels, ethanol, and other energy alternatives), and energy conservation, including a special emphasis on environmentally safe energy. Authorizes appropriations for FY2009-FY2013. (Sec. 703) Expresses the sense of Congress that: (1) the current definition of renewable biomass in the Renewable Fuel Standard (RFS) could be improved; (2) the RFS should be as inclusive as possible to better reflect the realities of the nation's resources, to encourage investment, and to help us meet the congressional mandate for advanced biofuels; (3) renewable fuels are important to our climate and energy security strategy, as well as the rural communities they support; and (4) cellulosic biofuels can and should be produced from a highly diverse array of feedstocks, allowing every region of the country to be a potential producer of this fuel. Title VIII: Energy Tax Incentives - Energy Tax Incentives Act of 2008 - Subtitle A: Energy Production Incentives - Part 1: Renewable Energy Incentives - (Sec. 801) Amends the Internal Revenue Code to set forth incentives and credits relating, in part, to: (1) electricity produced from marine renewables; (2) specified energy properties, including combined heat and power system property; (3) residential solar, wind, geothermal heat pump energy efficient property; and (4) clean renewable energy bonds. (Sec. 805) Extends the special rule to implement FERC and state electric restructuring policy with respect to a qualified electric utility. Part 2: Carbon Mitigation Provisions - (Sec. 811) Expands and modifies the investment credit for advanced coal projects and coal gasification. (Sec. 813) Extends through December 31, 2018, the temporary increase in the coal excise tax. (Sec. 814) Prescribes special rules for refund of the coal excise tax to certain coal producers and exporters. (Sec. 815) Directs the Secretary of the Treasury to enter into an agreement with the National Academy of Sciences (NAS) to review the Internal Revenue Code to identify the types of and specific tax provisions that have the largest effects on carbon and other greenhouse gas emissions and to estimate the magnitude of those effects. Requires NAS to report the results to Congress. Authorizes appropriations for FY2009-FY2010. Subtitle B: Transportation and Domestic Fuel Security Provisions - (Sec. 821) Includes cellulosic biofuel in the bonus depreciation for biomass ethanol plant property. (Sec. 822) Extends and increases the credits for biodiesel and renewable diesel. (Sec. 823) Limits the alcohol fuels and biodiesel fuels credits to fuels produced in the United States for domestic use. (Sec. 824) Replaces the credit for qualified electric vehicles with one for new qualified plug-in electric drive motor vehicles. (Sec. 825) Excludes from the heavy truck tax any idling reduction units and advanced insulation. (Sec. 826) Allows a tax credit to any New York Liberty Zone governmental unit for specified qualifying project expenditures. (Sec. 827) Excludes from gross income any employer reimbursement to qualified bicycle commuting employees. (Sec. 828) Increases and extends the alternative fuel vehicle refueling property credit. (Sec. 829) Allows a tax credit for any qualified energy security bond issued to fund grants and low-interest loans for placing natural gas refueling property in service at retail motor fuel stations in the United States. (Sec. 830) Revises requirements for exemption of public traded partnerships from treatment as corporations. Treats as qualifying income for exempted partnerships any income and gains relating to alcohol, biodiesel, and alternative fuels and mixtures. Subtitle C: Energy Conservation and Efficiency Provisions - (Sec. 841) Allows a tax credit for qualified energy conservation bonds. (Sec. 842) Extends the tax credit for nonbusiness energy property. Treats as energy-efficient building property qualifying for residential energy property expenditures under such tax credit any stove which uses the burning of biomass fuel to heat a taxpayer's residence in the United States. (Sec. 843) Extends the energy efficient commercial buildings deduction. (Sec. 844) Modifies the energy efficient appliance credit for appliances (dishwashers, clotheswashers, refrigerators) produced after 2007. (Sec. 845) Counts qualified smart electric meters and smart electric grid systems as ten-year property for purposes of the accelerated recovery period of depreciation. (Sec. 846) Extends through FY2012 the treatment as a tax-exempt private activity facility bond any bond 95% or more of whose net proceeds are to be used to provide qualified green building and sustainable design projects. Subtitle D: Revenue Provisions - (Sec. 851) Denies a deduction for income attributable to domestic production of oil, gas, or primary oil or gas products to specified oil companies, including major integrated oil companies and any entity in which a foreign government holds an interest of 50% or more, or any other interest providing the foreign government with effective control of such entity. Reduces such deduction for taxpayers other than specified companies. (Sec. 852) Revises certain special rules for the reduction of the foreign tax credit for foreign oil and gas extraction taxes. Redefines foreign oil and gas extraction income to include income derived from any transportation of such minerals that occurs before a specified fair market value event. Includes in foreign oil and gas extraction taxes any tax imposed by a foreign country which is limited in its application to taxpayers engaged in oil or gas activities. (Sec. 853) Increases by 40% the percentage of any required installment of corporate estimated tax otherwise due in July, August, or September of 2013 in the case of a corporation with assets of at least $1 billion which had any significant income for the preceding taxable year from extraction, production, processing, refining, transportation, distribution, or retail sale, of any fuel or electricity,

Date: 2008-09-15
Topic: Energy (Alternative & Renewable)
Subject: Energy