Summary: H.R.5331 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for H.R.5331. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/09/2006)

Breaking Our Long-Term Dependence Energy Act of 2006 or the BOLD Energy Act of 2006 - Directs the Secretary of Transportation to establish: (1) a rebate program for reducing fuel consumption levels; and (2) a National Tire Efficiency Program.

Requires motor vehicle manufacturers to equip 30% of their 2011 models and 100% of all 2017 models with alternative fuel technology.

Amends the Internal Revenue Code to allow new tax credits for: (1) idling reduction devices; (2) the manufacture of advanced technology motor vehicles; (3) wind energy property; and (4) investment in clean energy coal bonds and combined heat and power system property.

Repeals the limitation on the number of hybrid and advanced lean burn technology vehicles eligible for the alternative motor vehicle tax credit.

Extends through 2010: (1) the tax credits for electric vehicles, energy efficient homes, and nonbusiness energy property; and (2) the tax deduction for energy efficient commercial buildings.

Extends through 2012 tax credits for: (1) producing energy from certain renewable resources; (2) investment in clean renewable energy bonds; (3) residential energy efficient property; and (4) investment in solar energy property.

Extends through 2013 income and excise tax credits for alcohol, biodiesel, and renewable diesel used as fuel.

Increases from 30 to 50% the tax credit rate for alternative vehicle refueling property (service stations for dispensing alternative fuels to retail consumers) and extends such credit through 2013.

Allows use of civil penalties for noncompliance with fuel economy standards to finance alternative vehicle refueling properties.

Increases the tax credit rate for enhanced oil recovery from 15 to 20% for enhanced oil recovery project costs.

Directs the Secretary of Energy to establish programs for: (1) new vehicles technology research and development; (2) building refineries for converting coal into liquid transportation fuel; (3) energy trading credits; and (4) advanced clean low-rank coal development.

Directs the Secretary of the Interior to offer the 181 Area (Gulf of Mexico) for oil and gas leasing within one year of enactment of this Act.

Amends the Clean Air Act to: (1) increase the volume of renewable fuels (including biodiesel) to 30 billion gallons by 2025; (2) increase the level of cellulosic biomass and sugar in renewable fuels; (3) establish a program to produce cellulosic ethanol and ethanol produced from sugar; and (4) set forth a renewable fuel program for the diesel motor pool.

Authorizes appropriations for projects to promote the transition to a hydrogen-based economy.