National Energy and Conservation Corporation (AMPOWER) Act

Summary

National Energy and Conservation Corporation (AMPOWER) Act - Establishes a National Energy and Conservation Corporation (AMPOWER) to achieve specified goals, including: (1) the exploration, development, and production of public lands and tideland oil, natural gas, oil shale, and coal either independently or in partnership with private industry; and (2) the acceleration of creation and demonstration of specified technologies. Declares it the policy of Congress that production costs in excess of market prices should be funded through appropriations as a cost of national security. Stipulates that fuels produced by the Corporation shall be sold by competitive bid, with 50 percent of such production reserved for bids from publicly owned utilities and governmental entities. Specifies procedures and requirements governing the operation of the Corporation. Authorizes the Corporation to issue bonds not to exceed an aggregate of $30,000,000,000 outstanding at any one time. Authorizes the Corporation to institute condemnation proceedings to acquire easements or rights-of-way necessary to further the purposes of this Act. Imposes criminal penalties for persons who make false statements with an intent to defraud the Corporation. Imposes criminal penalties for conspiracy to defraud the Corporation. Directs the Corporation to consider environmental factors in decisions regarding the construction and siting of facilities under this Act. Requires public hearings on siting proposals by the Corporation. Authorizes the appropriation of $5,000,000,000, to carry out the provisions of this Act.

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1 official file

• Introduced in House

  summary · EN · 24 February 1977

  Open at official source

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