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Major Provisions of New Law With AM-Bush-Energy Bill

October 24, 1992

WASHINGTON (AP) _ Here are some major provisions of the energy bill signed into law Saturday by President Bush in Louisiana.

-New efficiency standards for lights, shower heads, electric motors and commercial heating and cooling systems, and measures to encourage utilities to provide energy conservation rebates.

-Tax incentives for developers of renewable energy sources such as solar and wind power.

-A requirement for government and private fleets to buy vehicles that run on fuels other than gasoline, or on electricity; also, tax breaks for buying such vehicles.

-Ending the monopoly utilities have in producing electricity by allowing independent companies to provide electricity in the wholesale market.

-Expanding the government’s Strategic Petroleum Reserve and allowing its oil to be used to combat sudden price increases caused by supply interruptions.

-Removing restrictions on imported Canadian natural gas.

-Turning the government’s uranium enrichment program over to private hands and requiring utilities with nuclear power plants to help pay for environmental cleanup.

-A pilot program for home mortgages that take into account energy efficiency improvements, and a call for states to adopt energy-efficient building codes.

-Streamlining of licensing for nuclear power plants, allowing a ″one stop″ permit for both construction and operation.

-Gives independent oil and gas producers a $ 1.1 billion tax break over five years.

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