Browse Bills

There is one summary for this bill. Bill summaries are authored by CRS.

Synthetic Hydrocarbon Fuel Act - Title I: General Provisions - Declares that it is the policy of the United States to develop as expeditiously as practicable commercially feasible processes for the conversion of coal to crude oil and other liquid and gaseous hydrocarbons in response to the public need for an adequate supply of energy.

Title II: Federal Coordination, Planning, and Regulation - Directs the President to: (1) aid in the planning and development of processes for conversion of coal to crude oil; (2) provide review of all phases of the development of such processes; (3) coordinate the activities of governmental agencies in the field of energy conservation; and (4) take all necessary steps to reduce dependence on foreign sources of fuel.

Directs the Office of Coal Research to cooperate in the development of a coal conversion process and provide such facilities as may be necessary for such development.

Title III: Creation of a Synthetic Hydrocarbon Fuel Corporation - Creates a Synthetic Hydrocarbon Fuel Corporation for profit which will not be an agency of the United States. States that the President shall appoint the incorporators, by and with the advice and consent of the Senate. Provides for the establishment of a board of directors for the corporation.

Authorizes the corporation to issue and have outstanding shares of capital stock, without par value, which shall carry voting rights and be eligible for dividends. Provides that such shares of stock initially offered shall be sold at a price not in excess of $100 per share.

Authorizes the Secretary of the Treasury to purchase from time to time and hold for the United States up to 40 percent of the current outstanding stock of the corporation.

States that at such time as the corporation shall have developed and licensed a commercial process or processes for the conversion of coal to oil and/or natural gas, the interest of the United States acquired pursuant to this Act shall be retired by the payment to the Secretary of the Treasury of 40 per centum of the proceeds from such royalties until the investment of the United States in the corporation shall have been returned in full.

Sets forth the purposes and powers of the corporation.

Title IV: Miscellaneous - Requires the corporation to notify the Department of State whenever it enters into business negotiations with any international or foreign entity. Provides that the district courts of the United States shall have jurisdiction over alleged violations of the provisions of this Act by the corporation.

Directs the President to transmit to Congress in January of each year a report which shall include a comprehensive description of the activities engaged in under this Act. Directs the corporation to transmit to the President and the Congress, annually and at such other times as it deems desireable, a comprehensive report of its operations under this Act.

There is one summary for this bill. Bill summaries are authored by CRS.

Synthetic Hydrocarbon Fuel Act - Title I: General Provisions - Declares that it is the policy of the United States to develop as expeditiously as practicable commercially feasible processes for the conversion of coal to crude oil and other liquid and gaseous hydrocarbons in response to the public need for an adequate supply of energy.

Title II: Federal Coordination, Planning, and Regulation - Directs the President to: (1) aid in the planning and development of processes for conversion of coal to crude oil; (2) provide review of all phases of the development of such processes; (3) coordinate the activities of governmental agencies in the field of energy conservation; and (4) take all necessary steps to reduce dependence on foreign sources of fuel.

Directs the Office of Coal Research to cooperate in the development of a coal conversion process and provide such facilities as may be necessary for such development.

Title III: Creation of a Synthetic Hydrocarbon Fuel Corporation - Creates a Synthetic Hydrocarbon Fuel Corporation for profit which will not be an agency of the United States. States that the President shall appoint the incorporators, by and with the advice and consent of the Senate. Provides for the establishment of a board of directors for the corporation.

Authorizes the corporation to issue and have outstanding shares of capital stock, without par value, which shall carry voting rights and be eligible for dividends. Provides that such shares of stock initially offered shall be sold at a price not in excess of $100 per share.

Authorizes the Secretary of the Treasury to purchase from time to time and hold for the United States up to 40 percent of the current outstanding stock of the corporation.

States that at such time as the corporation shall have developed and licensed a commercial process or processes for the conversion of coal to oil and/or natural gas, the interest of the United States acquired pursuant to this Act shall be retired by the payment to the Secretary of the Treasury of 40 per centum of the proceeds from such royalties until the investment of the United States in the corporation shall have been returned in full.

Sets forth the purposes and powers of the corporation.

Title IV: Miscellaneous - Requires the corporation to notify the Department of State whenever it enters into business negotiations with any international or foreign entity. Provides that the district courts of the United States shall have jurisdiction over alleged violations of the provisions of this Act by the corporation.

Directs the President to transmit to Congress in January of each year a report which shall include a comprehensive description of the activities engaged in under this Act. Directs the corporation to transmit to the President and the Congress, annually and at such other times as it deems desireable, a comprehensive report of its operations under this Act.

There is one summary for this bill. Bill summaries are authored by CRS.

Synthetic Hydrocarbon Fuel Act - Title I: General Provisions - Declares that it is the policy of the United States to develop as expeditiously as practicable commercially feasible processes for the conversion of coal to crude oil and other liquid and gaseous hydrocarbons in response to the public need for an adequate supply of energy.

Title II: Federal Coordination, Planning, and Regulation - Directs the President to: (1) aid in the planning and development of processes for conversion of coal to crude oil; (2) provide review of all phases of the development of such processes; (3) coordinate the activities of governmental agencies in the field of energy conservation; and (4) take all necessary steps to reduce dependence on foreign sources of fuel.

Directs the Office of Coal Research to cooperate in the development of a coal conversion process and provide such facilities as may be necessary for such development.

Title III: Creation of a Synthetic Hydrocarbon Fuel Corporation - Creates a Synthetic Hydrocarbon Fuel Corporation for profit which will not be an agency of the United States. States that the President shall appoint the incorporators, by and with the advice and consent of the Senate. Provides for the establishment of a board of directors for the corporation.

Authorizes the corporation to issue and have outstanding shares of capital stock, without par value, which shall carry voting rights and be eligible for dividends. Provides that such shares of stock initially offered shall be sold at a price not in excess of $100 per share.

Authorizes the Secretary of the Treasury to purchase from time to time and hold for the United States up to 40 percent of the current outstanding stock of the corporation.

States that at such time as the corporation shall have developed and licensed a commercial process or processes for the conversion of coal to oil and/or natural gas, the interest of the United States acquired pursuant to this Act shall be retired by the payment to the Secretary of the Treasury of 40 per centum of the proceeds from such royalties until the investment of the United States in the corporation shall have been returned in full.

Sets forth the purposes and powers of the corporation.

Title IV: Miscellaneous - Requires the corporation to notify the Department of State whenever it enters into business negotiations with any international or foreign entity. Provides that the district courts of the United States shall have jurisdiction over alleged violations of the provisions of this Act by the corporation.

Directs the President to transmit to Congress in January of each year a report which shall include a comprehensive description of the activities engaged in under this Act. Directs the corporation to transmit to the President and the Congress, annually and at such other times as it deems desireable, a comprehensive report of its operations under this Act.

There is one summary for this bill. Bill summaries are authored by CRS.

Synthetic Hydrocarbon Fuel Act - Title I: General Provisions - Declares that it is the policy of the United States to develop as expeditiously as practicable commercially feasible processes for the conversion of coal to crude oil and other liquid and gaseous hydrocarbons in response to the public need for an adequate supply of energy.

Title II: Federal Coordination, Planning, and Regulation - Directs the President to: (1) aid in the planning and development of processes for conversion of coal to crude oil; (2) provide review of all phases of the development of such processes; (3) coordinate the activities of governmental agencies in the field of energy conservation; and (4) take all necessary steps to reduce dependence on foreign sources of fuel.

Directs the Office of Coal Research to cooperate in the development of a coal conversion process and provide such facilities as may be necessary for such development.

Title III: Creation of a Synthetic Hydrocarbon Fuel Corporation - Creates a Synthetic Hydrocarbon Fuel Corporation for profit which will not be an agency of the United States. States that the President shall appoint the incorporators, by and with the advice and consent of the Senate. Provides for the establishment of a board of directors for the corporation.

Authorizes the corporation to issue and have outstanding shares of capital stock, without par value, which shall carry voting rights and be eligible for dividends. Provides that such shares of stock initially offered shall be sold at a price not in excess of $100 per share.

Authorizes the Secretary of the Treasury to purchase from time to time and hold for the United States up to 40 percent of the current outstanding stock of the corporation.

States that at such time as the corporation shall have developed and licensed a commercial process or processes for the conversion of coal to oil and/or natural gas, the interest of the United States acquired pursuant to this Act shall be retired by the payment to the Secretary of the Treasury of 40 per centum of the proceeds from such royalties until the investment of the United States in the corporation shall have been returned in full.

Sets forth the purposes and powers of the corporation.

Title IV: Miscellaneous - Requires the corporation to notify the Department of State whenever it enters into business negotiations with any international or foreign entity. Provides that the district courts of the United States shall have jurisdiction over alleged violations of the provisions of this Act by the corporation.

Directs the President to transmit to Congress in January of each year a report which shall include a comprehensive description of the activities engaged in under this Act. Directs the corporation to transmit to the President and the Congress, annually and at such other times as it deems desireable, a comprehensive report of its operations under this Act.