Home Front Energy Independence Act

12/29/2022, 10:03 PM

Home Front Energy Independence Act

This bill prohibits the importation of petroleum and petroleum products from Russia until Russia recognizes the sovereignty and territorial integrity of Ukraine.

The bill allows a new tax credit for the sale or blending of ethanol fuels. It also extends through 2025 the income tax credit for biodiesel and renewable diesel used as fuel.

The bill modifies requirements relating to the waiver of ethanol reid vapor pressure limitations and E15 labeling.

The bill requires the Department of Agriculture to award grants to certain governmental entities for expanding the biofuel infrastructure and agriculture product market.

Bill 117 hr 7155, also known as the Home Front Energy Independence Act, is a piece of legislation introduced in the US Congress with the goal of promoting energy independence and sustainability within the United States. The bill aims to achieve this by providing incentives and support for the development and implementation of renewable energy sources, such as solar and wind power, as well as energy-efficient technologies.

One of the key provisions of the bill is the establishment of a grant program to assist homeowners and businesses in installing renewable energy systems, such as solar panels or wind turbines, on their properties. These grants would help offset the upfront costs of these systems, making them more accessible to a wider range of individuals and organizations.

Additionally, the Home Front Energy Independence Act includes measures to promote energy efficiency in buildings and infrastructure. This includes requirements for new construction to meet certain energy efficiency standards, as well as incentives for retrofitting existing buildings to improve their energy performance. The bill also addresses the need for a more resilient energy grid, particularly in the face of natural disasters and other emergencies. It includes provisions for the development of microgrid systems and energy storage technologies to ensure that communities can maintain access to power even in challenging circumstances. Overall, the Home Front Energy Independence Act is aimed at reducing the United States' reliance on fossil fuels and promoting a more sustainable and secure energy future. By incentivizing the use of renewable energy sources and promoting energy efficiency, the bill seeks to create a more resilient and environmentally friendly energy system for the country.
Congress
117

Number
HR - 7155

Introduced on
2022-03-18

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

3/18/2022

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Home Front Energy Independence Act

This bill prohibits the importation of petroleum and petroleum products from Russia until Russia recognizes the sovereignty and territorial integrity of Ukraine.

The bill allows a new tax credit for the sale or blending of ethanol fuels. It also extends through 2025 the income tax credit for biodiesel and renewable diesel used as fuel.

The bill modifies requirements relating to the waiver of ethanol reid vapor pressure limitations and E15 labeling.

The bill requires the Department of Agriculture to award grants to certain governmental entities for expanding the biofuel infrastructure and agriculture product market.

Bill 117 hr 7155, also known as the Home Front Energy Independence Act, is a piece of legislation introduced in the US Congress with the goal of promoting energy independence and sustainability within the United States. The bill aims to achieve this by providing incentives and support for the development and implementation of renewable energy sources, such as solar and wind power, as well as energy-efficient technologies.

One of the key provisions of the bill is the establishment of a grant program to assist homeowners and businesses in installing renewable energy systems, such as solar panels or wind turbines, on their properties. These grants would help offset the upfront costs of these systems, making them more accessible to a wider range of individuals and organizations.

Additionally, the Home Front Energy Independence Act includes measures to promote energy efficiency in buildings and infrastructure. This includes requirements for new construction to meet certain energy efficiency standards, as well as incentives for retrofitting existing buildings to improve their energy performance. The bill also addresses the need for a more resilient energy grid, particularly in the face of natural disasters and other emergencies. It includes provisions for the development of microgrid systems and energy storage technologies to ensure that communities can maintain access to power even in challenging circumstances. Overall, the Home Front Energy Independence Act is aimed at reducing the United States' reliance on fossil fuels and promoting a more sustainable and secure energy future. By incentivizing the use of renewable energy sources and promoting energy efficiency, the bill seeks to create a more resilient and environmentally friendly energy system for the country.
Alternative Names
Official Title as IntroducedTo prohibit the importation of petroleum and petroleum products from the Russian Federation, to amend the Internal Revenue Code of 1986 to establish an income tax credit for the sale or blending of certain fuels containing ethanol and to extend tax incentives for biodiesel and renewable diesel, to amend the Clean Air Act with respect to the ethanol waiver for Reid vapor pressure limitations under that Act, and for other purposes.

Policy Areas
Taxation

Potential Impact
Administrative law and regulatory procedures•
Agricultural marketing and promotion•
Air quality•
Alternative and renewable resources•
Conflicts and wars•
Environmental Protection Agency (EPA)•
Environmental regulatory procedures•
Europe•
Income tax credits•
Infrastructure development•
Military operations and strategy•
Motor fuels•
Oil and gas•
Retail and wholesale trades•
Rural conditions and development•
Russia•
Sales and excise taxes•
Small business•
Sovereignty, recognition, national governance and status•
Trade restrictions•
Ukraine

Comments

Recent Activity

Latest Summary3/23/2022

Home Front Energy Independence Act

This bill prohibits the importation of petroleum and petroleum products from Russia until Russia recognizes the sovereignty and territorial integrity of Ukraine.

The bill allows a...


Latest Action4/4/2022
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.