S.2020 - Sustainable Energy Transition Act of 1991102nd Congress (1991-1992)
|Sponsor:||Sen. Wellstone, Paul D. [D-MN] (Introduced 11/22/1991)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 11/22/1991 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.2020 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in Senate (11/22/1991)
Sustainable Energy Transition Act of 1991 - Title I: Sustainable Energy Transition Strategies - Requires each State or regional consortium formed under this Act to prepare and submit to the Secretary of Energy a sustainable energy transition strategy. Prescribes general contents of such a strategy. Authorizes the States to form regional consortia to develop a strategy.
Title II: Substainable Energy Transition Trust Fund - Subtitle A: Tax and Trust Fund Provisions - Amends the Internal Revenue Code to: (1) repeal the passive loss exemption to the alternative minimum income tax with respect to working interests in oil and gas property; (2) phase-out the depletion allowance for oil, gas, and coal production; (3) impose a phased-in carbon-content excise tax upon the production or importation of specified energy sources; and (4) establish the Sustainable Energy Transition Trust (SETT) Fund to provide financial assistance to participating States and consortia members.
Subtitle B: Distribution and Use of Funds - Outlines a SETT fund allocation and administration scheme consisting of a Designated, an Incentive, and a Support Fund. Prescribes criteria for State receipt of moneys from such funds.
Directs the Secretary to establish a nonpartisan advisory committee (the Transition Fund Advisory Board) to advise on implementation of this Act.
Title III: Energy Transition Information Clearinghouse - Establishes an Energy Transition Information Clearinghouse within the Energy Information Administration of the Department of Energy. Funds such Clearinghouse with allocations from the Trust Fund.
Title IV: Research and Training - Directs the Secretary to: (1) support State energy research and development efforts in the area of renewable energy and energy efficiency; (2) promote the establishment of regional research and development councils; (3) review and revise Department of Energy research activities in order to designate appropriate regional research centers to support State activities; and (4) support certain education and training programs for energy efficiency and renewable energy technologies in community colleges and vocational-technical institutions.
Title V: State and Regional Standards - Amends the Motor Vehicle Information and Cost Savings Act to permit the States to adopt incentive programs for the purchase of more energy efficient automobiles.
Authorizes the States or regional consortia to adopt stricter-than-Federal energy efficiency standards for products found by the State or consortium to use a significant amount of energy.
Title VI: Authorization of Appropriations - Authorizes appropriations.