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