Synthetic Fuels Fiscal Responsibility Act

Summary

Synthetic Fuels Fiscal Responsibility Act - Amends the United States Synthetic Fuels Corporation Act of 1980 to abolish the United States Synthetic Fuels Corporation (the Corporation) 90 days after the date of enactment of this Act. Terminates the Corporation's authority to enter into any legally binding commitments (including any additions to existing commitments) after the date of enactment of this Act. Designates the Secretary of Energy as the Chief Operating Officer of the Corporation. Directs such Secretary to: (1) dispose of all Corporation assets not necessary for operating the synthetic fuels assistance program; (2) transfer to the Department of Energy all other Corporation assets; (3) administer the synthetic fuels assistance program and the modified synthetic fuels assistance program; (4) submit an assistance plan to the Congress setting forth the methods and schedules for implementation of the synthetic fuels assistance program on the smallest, least expensive practicable scale; and (5) solicit proposals for the construction and operation of synthetic fuel projects. Sets forth a congressional review procedure under which binding obligations above a certain amount and synthetic fuel actions must be submitted by the Secretary for congressional approval. Deems any such action or obligation approved if not disapproved by enactment of a joint resolution within 90 days after submittal. Requires that certain user fees, loan guarantee fees, and all receipts collected by the Secretary shall be deposited in the Treasury general fund. Authorizes appropriations for the synthetic fuels program.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 31 July 1985

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.