,i #aaeth ,,congress #b;d ,session ,h4 ,r4 #eehf ,,in ,,the ,,house ,,of ,,representatives ,april #bc1 #bjah ,ms4 ,lofgren 7for herself and ,ms4 ,matsui7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means1 and in addition to the ,committees on ,energy and ,commerce1 and ,science1 ,space1 and ,technology1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to promote the domestic development and deployment of clean energy technologies required for the #bast century4 #a4 ,short title2 table of contents ,this ,act may be cited as the ,clean ,energy ,victory ,bond ,act of #bjah4 #b4 ,findings ,congress finds the following3 7#a7 ,there is enormous potential for increasing renewable energy production and energy efficiency installation in the ,united ,states4 7#b7 ,in order to expand renewable energy and energy efficiency technologies in the ,united ,states1 and maintain ,united ,states leadership1 the ,united ,states must invest in research and development of these technologies4 ,the ,office of ,energy ,efficiency and ,renewable ,energy of the ,department of ,energy 7,,eere7 estimates that taxpayer investment of #ab billion into ,,eere research and development portfolio has already yielded an estimated net economic benefit to the ,united ,states of more than #bcj billion1 with an overall annual return on investment of more than #bj percent4 7#c7 ,other nations1 including ,china and ,germany are ahead of the ,united ,states in manufacturing and deploying various clean energy technologies1 even though the ,united ,states invented many of these technologies4 7#d7 ,investments in renewable energy and energy efficiency projects in the ,united ,states create green jobs for ,united ,states citizens across the ,united ,states4 ,hundreds of thousands of jobs could be created through expanded government support for clean energy and energy efficiency4 7#e7 ,as ,americans choose energy efficiency and clean energy and transportation1 it reduces our dependence on foreign oil and improves our energy security4 7#f7 ,bonds are a low-cost method for encouraging clean energy1 not requiring direct budget allocations or expenditures4 ,the projects supported through ,clean ,energy ,victory ,bonds will create jobs and business revenues that will increase ,federal tax revenues1 while simultaneously reducing health and environmental costs incurred by the ,federal ,government nationwide4 7#g7 ,in ,world ,war ,,ii1 over #hj percent of ,american households purchased ,victory ,bonds to support the war effort1 raising over #ahe billion1 or over #b trillion in today's dollars4 #c4 ,clean ,energy ,victory ,bonds 7a7 ,initial capitalization ,the ,secretary of the ,treasury shall issue ,clean ,energy ,victory ,bonds in an amount not to exceed #g1ejj1jjj1jjj on the credit of the ,united ,states for purposes of raising revenue for transfer to the ,clean ,energy ,victory ,bonds ,trust ,fund under section #ieab7;b7 of the ,internal ,revenue ,code of #aihf4 7b7 ,denominations and maturity ,clean ,energy ,victory ,bonds shall be in the form of ,united ,states ,savings ,bonds of ,series ,,ee or as administered by the ,bureau of the ,public ,debt of the ,department of the ,treasury in denominations of #be1 and shall mature within such periods as determined by the ,secretary of the ,treasury4 7c7 ,interest ,clean ,energy ,victory ,bonds shall bear interest at the rate the ,secretary of the ,treasury sets for ,savings ,bonds of ,series ,,ee and ,series ,i1 plus a rate of return determined by the ,secretary of the ,treasury which is based on the economic benefit generated for the ,united ,states from the research and development portfolio of the ,office of ,energy ,efficiency and ,renewable ,energy of the ,department of ,energy4 7d7 ,promotion 7#a7 ,in general ,the ,secretary of the ,treasury shall take such actions1 independently and in conjunction with financial institutions offering ,clean ,energy ,victory ,bonds1 to promote the purchase of ,clean ,energy ,victory ,bonds1 including campaigns describing the financial and social benefits of purchasing ,clean ,energy ,victory ,bonds4 7#b7 ,promotional activities ,such promotional activities may include advertisements1 pamphlets1 or other promotional materials-- 7,a7 in periodicals2 7,b7 on billboards and other outdoor venues2 7,c7 on television2 7,d7 on radio2 7,e7 on the ,internet2 7,f7 within financial institutions that offer ,clean ,energy ,victory ,bonds2 or 7,g7 any other venues or outlets the ,secretary of the ,treasury may identify4 7#c7 ,limitation ,there are authorized to be appropriated for such promotional activities not more than-- 7,a7 #aj1jjj1jjj in the first year after the date of the enactment of this ,act2 and 7,b7 #b1jjj1jjj in each year thereafter4 7e7 ,future capitalization 7#a7 ,in general ,after the initial capitalization limit is reached under subsection 7a71 the ,secretary of the ,treasury may issue additional ,clean ,energy ,victory ,bonds on the credit of the ,united ,states4 7#b7 ,single issue limitation ,no such additional issue may exceed #g1ejj1jjj1jjj4 7#c7 ,aggregate limitations ,the aggregate of any such additional issues during the #d-year period beginning on the day after the initial capitalization limit is reached under subsection 7a7 may not exceed #ej1jjj1jjj1jjj4 ,the aggregate of any such additional issues after the expiration of such #d-year period may not exceed #ej1jjj1jjj1jjj4 7f7 ,lawful investments ,clean ,energy ,victory ,bonds shall be lawful investments1 and may be accepted as security for all fiduciary1 trust1 and public funds1 the investment or deposit of which shall be under the authority or control of the ,united ,states or any officer or officers thereof4 #d4 ,clean ,energy ,victory ,bonds ,trust ,fund ,chapter #ih of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new section3 #ieab4 ,clean ,energy ,victory ,bonds ,trust ,fund 7a7 ,creation of trust fund ,there is established in the ,treasury of the ,united ,states a trust fund to be known as the ,clean ,energy ,victory ,bonds ,trust ,fund1 consisting of such amounts as may be apportioned or credited to such ,trust ,fund as provided in this section or section #ifjb7;b74 7b7 ,transfers to trust fund ,there are hereby appropriated to the ,trust ,fund amounts equivalent to revenue from the issuance of ,clean ,energy ,victory ,bonds under section #aja of the ,clean ,energy ,victory ,bond ,act of #bjah4 7c7 ,expenditures from trust fund ,amounts in the ,trust ,fund shall be available1 without further appropriation1 to carry out programs and other activities of the ,office of ,energy ,efficiency and ,renewable ,energy of the ,department of ,energy4 4