S.1055 - American Automobile Industry Promotion Act of 2007110th Congress (2007-2008)
|Sponsor:||Sen. Biden, Joseph R., Jr. [D-DE] (Introduced 03/29/2007)|
|Committees:||Senate - Finance|
|Latest Action:||03/29/2007 Read twice and referred to the Committee on Finance.|
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Summary: S.1055 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in Senate (03/29/2007)
American Automobile Industry Promotion Act of 2007 - Directs the Secretary of Energy to: (1) offer to enter into an arrangement with the National Academy of Sciences to assess state-of-the-art battery technologies with potential application for electric drive transportation; (2) conduct a program of research, development, demonstration, and commercial application for electric drive transportation technology (i.e., vehicles that use electric motors for all or part of the motive power); and (3) establish and carry out an Advanced Battery Initiative to support research, development, demonstration, and commercial application of battery technologies in on-road or nonroad vehicles.
Amends the Internal Revenue Code to redefine the new advanced lean burn technology motor vehicle credit for high-efficiency diesel passenger automobiles and light trucks to eliminate requirements that such motor vehicles for 2004 and later model years receive a certificate stating they meet or exceed certain weight and emission standards.
Amends the Clean Air Act to: (1) define "biodiesel" and "biodiesel blend"; and (2) require the Administrator of the Environmental Protection Agency (EPA) to promulgate regulations to establish standards for each biodiesel blend.