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Advancing Energy Manufacturing in Coal Communities Act
12/31/2022, 5:45 AM
Summary of Bill HR 5367
The key provisions of the bill include establishing a grant program to provide funding for energy manufacturing projects in coal communities. These grants would support the development of new technologies and processes that promote energy efficiency and sustainability. Additionally, the bill aims to create job training programs to help workers in coal communities transition to new roles in the energy manufacturing sector.
Furthermore, the bill seeks to incentivize investment in energy manufacturing by providing tax credits and other financial incentives to companies that choose to locate their facilities in coal communities. This is intended to stimulate economic growth and create new opportunities for residents in these regions. Overall, the Advancing Energy Manufacturing in Coal Communities Act is designed to support the transition to cleaner energy sources while also revitalizing coal-dependent communities through the promotion of energy manufacturing. By providing funding, training, and incentives, the bill aims to create a more sustainable future for both the environment and the economy.
Congressional Summary of HR 5367
Advancing Energy Manufacturing in Coal Communities Act
This bill requires the Department of Energy to establish a program to award grants to certain manufacturing firms for qualifying advanced energy projects. To qualify for a grant, a project must (1) re-equip, expand, or establish a manufacturing or recycling facility for the production or recycling of advanced energy property (e.g., property designed to produce renewable energy); or (2) re-equip an industrial or manufacturing facility with equipment designed to reduce the greenhouse gas emissions of that facility substantially below the greenhouse gas emissions under current best practices. Further, the project must have a reasonable expectation of commercial viability and be located near or in an area where a coal mine has closed or coal-fired plant that produced electricity has been retired.
