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H.R. 6067: Invest in Energy Independence Act

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H.R. 6067: Invest in Energy Independence Act

110th Congress · introduced 2008-05-15 · Energy · Latest: Referred to the Subcommittee on Energy and Environment.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2008-05-15 · official record
  2. Who proposed it: Rep. Lampson, Nick [D-TX-22] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on Energy and Environment. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Invest in Energy Independence Act

Plain summary

Invest in Energy Independence Act - Instructs the Secretary of Energy to publish a plan to: (1) exchange light grade petroleum from the Strategic Petroleum Reserve (SPR) for an equivalent volume of heavy grade petroleum plus certain cash bonus bids received that reflect the difference in the market value between light grade and heavy grade petroleum and the timing of deliveries of the heavy grade petroleum; (2) deposit into the SPR Petroleum Account, from the gross proceeds of the cash bonus bids, the amount necessary to pay for the costs of the exchange; (3) deposit 90% of the remaining net proceeds from the exchange into the Energy Independence and Security Fund established by this Act; and (4) deposit the remaining balance into the SPR Petroleum Account to acquire additional petroleum for the SPR. Directs the Secretary to study and report to Congress on the potential for additional exchanges from the SPR. Establishes in the Treasury the Energy Independence and Security Fund. Instructs the Secretary to distribute amounts from the Fund to specified energy activities, including: (1) energy research of the Advanced Research Projects Agency; (2) wind and solar energy research and development; (3) low-income weatherization; (4) advanced vehicles research, development, demonstration; and (5) smart grid technology research and development.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Invest in Energy Independence Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Lampson, Nick [D-TX-22] · 31 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Edward J. Markey (D-MA), Peter Welch (D-VT), Sanford D. Bishop, Jr. (D-GA), Jerrold Nadler (D-NY), Rick Larsen (D-WA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Securities
Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong110-hr6067 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110