Relying on Ethanol for America Program Act

Summary

Relying on Ethanol for America Program Act - Directs the Secretary of Agriculture to establish an Ethanol Development Fund within the Commodity Credit Corporation to guarantee loans made to finance eligible ethanol-related projects. Provides that such Fund shall be administered by the Assistant Secretary of Agriculture for Science and Education. Sets forth funding guidelines for the Commodity Credit Corporation to make certain funds available to the Fund for a five-year period. Requires the Assistant Secretary to report to certain congressional committees regarding the financial status of the Development Fund Program. Requires the Secretary of Agriculture to sponsor research and development of marketable commercial or industrial crops for specific use in the production of ethanol or food for export. Amends the Internal Revenue Code to extend from 1993 to the year 2000 certain excise tax treatment of ethanol as fuel, and to restrict a certain excise tax reduction to ethanol fuel.

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1 official file

• Introduced in Senate

  summary · EN · 6 August 1987

  Open at official source

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