S. 570 — Introduced in Senate

II 113th CONGRESS 1st Session S. 570 IN THE SENATE OF THE UNITED STATES March 14, 2013 Mr. Bennet introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To establish a competitive grant program in the Department of Energy to provide grants to States and units of local government to carry out clean energy and carbon reduction measures, to close big oil company tax loopholes to pay for the competitive grant program and reduce the deficit, and for other purposes. 1. Short title This Act may be cited as the Clean Energy Race to the Top Act of 2013. 2. Definitions In this Act: (1) Eligible entity The term eligible entity means an entity described in section 3(b). (2) Secretary The term Secretary means the Secretary of Energy. 3. Clean energy grant program (a) In general There is established in the Department of Energy a program to provide grants to eligible entities, on a competitive basis, to develop and carry out clean energy and carbon reduction measures, such as— (1) renewable electricity standards; (2) regional or statewide climate action plans; (3) the use of hybrid, electric, compressed natural gas, or fuel cell vehicles in State or local fleets; (4) measures to increase the percentage of public buildings of the eligible entity that are certified with respect to standards for energy efficiency; (5) participation in a regional greenhouse gas reduction program; (6) facilitation of on-bill financing for energy efficiency improvements for residences and business served by rural coops; (7) provision of State tax incentives for the manufacture or installation of clean energy components or energy efficiency upgrades; (8) provision of innovative financing mechanisms to private sector entities to encourage the deployment of clean energy technologies; (9) implementation of best management practices for the public utility commission of an eligible entity; (10) improvement and updating of grid technology; and (11) implementation of carbon efficiency standards. (b) Eligible entities To be eligible to receive a grant under this section, a State or unit of local government, or a regional consortium comprised of States or units of local governments, in partnership with private sector and nongovernmental organization partners, shall— (1) meet any requirements established by the Secretary under subsection (e); and (2) submit an application to the Secretary at such time, in such form, and containing such information as the Secretary may require. (c) Award The Secretary shall determine which eligible entities shall receive grants and the amount of the grants provided based on— (1) the information provided in an application submitted under subsection (b)(2); and (2) any criteria for reviewing and ranking applications developed by the Secretary by regulation under subsection (e). (d) Use of funds Grant funds provided under this section shall only be used for eligible uses specified by the Secretary by regulation under subsection (e). (e) Regulations (1) In general As soon as practicable after the date of enactment of this Act, the Secretary shall issue regulations that establish criteria for grants under this section, including specifying the types of measures that are eligible for grants, establishing application criteria, and developing a point system to assist the Secretary in reviewing and ranking grant applications. (2) Considerations In developing the regulations under paragraph (1), the Secretary shall take into account— (A) regional disparities in the ways in which energy is produced and used; and (B) the clean energy resource potential of the measures. (f) Explanation As soon as practicable after the date of enactment of this Act, the Secretary shall publish in the Federal Register an explanation of the manner by which grants awarded under subsection (c) would ensure an objective evaluation based on the criteria regulations promulgated under subsection (e)(1). 4. Authorization of appropriations There is authorized to be appropriated to the Secretary for fiscal year 2014 to carry out this Act $5,000,000,000, to remain available until expended. 5. Cost offset for clean energy grant program, and deficit reduction, resulting from reduction in deduction for major integrated oil companies for income attributable to domestic production of oil, gas, or primary products thereof (a) In general Subparagraph (A) of section 199(d)(9) of the Internal Revenue Code of 1986 is amended by inserting (5 percent in the case of a taxpayer which is a major integrated oil company (as defined in section 167(h)(5)(B))) after 3 percent. (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2013.