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SPUR Act
3/13/2024, 7:36 AM
Summary of Bill S 1456
One key provision of the SPUR Act is the creation of a tax credit for businesses that invest in infrastructure projects, such as building roads, bridges, and public transportation systems. This tax credit would help offset the costs of these projects and encourage businesses to make these investments.
Another important aspect of the SPUR Act is the establishment of a grant program to support infrastructure projects in underserved communities. This program would provide funding for projects that improve access to transportation, clean water, and other essential services in low-income areas. Overall, the SPUR Act aims to stimulate economic growth and create jobs by incentivizing businesses to invest in infrastructure projects. It also seeks to address the infrastructure needs of underserved communities and improve access to essential services for all Americans.
Congressional Summary of S 1456
Spur Permitting of Underdeveloped Resources Act or the SPUR Act
This bill (1) accelerates the environmental review of certain federal actions related to energy; (2) modifies various laws pertaining to energy and mineral development; (3) establishes requirements related to the supply and delivery of electricity and natural gas; and (4) makes requirements concerning other natural resources.
Specifically, the bill sets forth provisions to expedite the environmental review of certain federal actions that involve energy and mineral development, energy supply, or natural resources, such as issuing permits to export liquefied natural gas.
It also establishes requirements about leasing onshore and offshore federal land for oil and gas development, including by directing the Department of the Interior to immediately resume onshore quarterly lease sales. By September 30, 2023, Interior must also approve a final 2023-2028 offshore leasing program.
The bill also sets forth provisions to prevent or remove certain limitations on mining federal land and make related requirements.
In addition, the bill directs the Federal Energy Regulatory Commission (FERC) to adopt tariff provisions, rate treatments, and other changes that are necessary to protect the adequacy, affordability, reliability, and security of the supply and delivery of electricity and natural gas by interstate pipelines. The bill also modifies FERC's responsibilities under a variety of laws.
Finally, the bill modifies other laws governing natural resources, such as by extending the renewal term for grazing permits and directing the Bureau of Land Management to withdraw a proposed rule titled Conservation and Landscape Health.