Bill summaries are authored by CRS.

Shown Here:
Reported to House amended, Part I (07/11/1985)

(Reported to House from the Committee on Energy and Commerce with amendment, H. Rept. 99-196 (Part I))

Synthetic Fuels Fiscal Responsibility Act - Amends the United States Synthetic Fuels Corporation Act of 1980 to abolish the United States Synthetic Fuels Corporation (the Corporation) 90 days after the date of enactment of this Act.

Terminates the Corporation's authority to enter into any legally binding commitments (including any additions to existing commitments) after the date of enactment of this Act.

Designates the Secretary of Energy as the chief operating officer of the Corporation. Directs the Secretary to: (1) dispose of all Corporation assets not necessary for operating the synthetic fuels assistance program; (2) transfer to the Department of Energy all other Corporation assets; (3) administer the synthetic fuels program and the modified synthetic fuels assistance program; (4) submit an assistance plan to the Congress which sets forth the methods and schedules for implementation of the synthetic fuels assistance program on the smallest, least expensive practicable scale; and (5) solicit proposals for the construction and operation of synthetic fuel projects.

Sets forth a congressional review procedure under which binding obligations above a certain amount and synthetic fuel actions must be submitted by the Secretary to the Congress for approval. Prohibits any synthetic fuel action from taking effect if Congress disapproves such action within 90 days after it is received by the Congress in continuous session.

Requires that certain user fees, loan guarantee fees, and all receipts collected by the Secretary shall be deposited in the Treasury general fund.

Authorizes appropriations.