As part of a larger effort to promote clean energy (S. 701), Senator Hillary Clinton has proposed prizes for innovative energy technology development that will:
(A) increase national security by significantly reducing petroleum and imported fuels consumption;
(B) significantly improve the efficiency of electricity use and the reliability of the electricity system; and
(C) significantly reduce greenhouse gas emissions.
10th CONGRESS, 1st Session, S. 701
To amend the Internal Revenue Code of 1986 to impose a temporary oil profit fee and to use the proceeds of the fee collected to provide a Strategic Energy Fund and expand certain energy tax incentives, and for other purposes.
IN THE SENATE OF THE UNITED STATES
February 28, 2007
Mrs. CLINTON introduced the following bill; which was read twice and referred to the Committee on Finance
Subtitle F–Clean Energy Research
SEC. 151. ASSISTANT SECRETARY FOR ADVANCED ENERGY RESEARCH, TECHNOLOGY DEVELOPMENT, AND DEPLOYMENT.
(e) Prizes for Advanced Technology Achievements-
(1) IN GENERAL- Subject to paragraphs (2) through (4), the Assistant Secretary may carry out a program to award cash prizes in recognition of outstanding achievements in basic, advanced, and applied research, technology development, and prototype development that have the potential to advance the mission described in subsection (b) under similar terms and conditions as the authority is exercised under section 1008 of the Energy Policy Act of 2005 (42 U.S.C. 16396).
(2) COMPETITION REQUIREMENTS- In carrying out this subsection, the Assistant Secretary shall–
(A) use a competitive process for the selection of recipients of cash prizes; and
(B) conduct widely-advertised solicitation of submissions of research results, technology developments, and prototypes.
(3) MAXIMUM AMOUNT FOR ALL CASH PRIZES- The total amount of all cash prizes awarded for a fiscal year under this subsection may not exceed $50,000,000.
(4) MAXIMUM AMOUNT OF INDIVIDUAL CASH PRIZES- The amount of an individual cash prize awarded under this subsection may not exceed $10,000,000 unless the amount of the award is approved by the Secretary of Energy.
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(h) Annual Reports- As soon as practicable after the end of each fiscal year for which the Assistant Secretary receives funds under subsection (i), the Assistant Secretary shall submit to the Committee on Energy and Natural Resources of the Senate and the Committee on Energy and Commerce, and the Committee on Science, of the House of Representatives a report on the progress, challenges, future milestones, and strategic plan of the Assistant Secretary, including–
(1) a description of, and rationale for, any changes in the strategic plan;
(2) the adequacy of human and financial resources necessary to achieve the mission described in subsection (b); and
(3) in the case of cash prizes awarded under subsection (e), a description of–
(A) the applications of the research, technology, or prototypes for which prizes were awarded;
(B) the total amount of the prizes that were awarded;
(C) the methods used for solicitation and evaluation of submissions and an assessment of the effectiveness of those methods; and
(D) recommendations to improve the prize program.
(i) Relationship to Other Authority- The program under this section may be carried out in conjunction with, or in addition to, the exercise of any other authority of the Assistant Secretary to acquire, support, or stimulate basic, advanced, and applied research, technology development, or prototype projects.