H.R.3089 - No More Excuses Energy Act of 2007110th Congress (2007-2008)
Summary: H.R.3089 — 110th Congress (2007-2008)
Introduced in House (07/18/2007)
No More Excuses Energy Act of 2007 - Requires the Secretary of the Treasury to prescribe regulations for the taxpayer election to expense the cost of certain refinery property not later than 60 days after the enactment of this Act.
Amends the Internal Revenue Code to: (1) allow the issuance of tax exempt facility bonds for the financing of domestic use oil refinery facilities; (2) extend through 2018 the tax credit for producing electricity from wind facilities; and (3) allow tax credits for the production of electricity from nuclear energy, natural gas production, and carbon dioxide tertiary injectant processes.
Requires the President to designate at least 10 sites for oil or natural gas refineries on federal lands and make such sites available to the private sector for construction of refineries.
Prohibits the Nuclear Regulatory Commission from denying an application for nuclear waste disposal on the grounds of present or future insufficient capacity.
Terminates all existing federal laws prohibiting expenditures to conduct oil and natural gas leasing and preleasing activities in the Outer Continental Shelf.
American-Made Energy and Good Jobs Act - Directs the Secretary of the Interior to establish and implement a competitive oil and gas leasing program in the Coastal Plain of Alaska.
Repeals the prohibition against producing oil and gas from the Arctic National Wildlife Refuge.
Sets forth requirements for the sale of oil and natural gas leases in the Coastal Plain, environmental protection, transportation easements, and royalty payments to Alaska.
Establishes in the Treasury the Coastal Plain Local Government Impact Aid Assistance Fund to assist Alaska jurisdictions that are directly impacted by oil and gas exploration and production in the Coastal Plain.