“A bill to authorize funding for eligible joint ventures between United States and Israeli businesses and academic persons, to establish the International Energy Advisory Board, and for other purposes.” Establishes an International Energy Advisory (IEA) Board in the Dept. of Energy comprised of one appointee of the Sec. of Energy, two Israeli citizens appointed by the Sec. of Energy after consultation with the Israeli government, and one appointee of the Sec. of Commerce. The IEA board sets criteria for grants and the amount of awards to be given in consultation with the Israel-United States Binational Industrial Research and Development Foundation and the United States-Israel Binational Science Foundation. Board members are compensated in travel expenses and given per diem but no salary. Eligible projects must “encourage cooperation between the United States and Israel on research, development, or commercialization of alternative energy, improved energy efficiency, or renewable energy sources.” They are to be carried out through the Office of Energy Efficiency and Renewable Energy in the Dept. of Energy. Eligible for application are “a joint venture comprised of both Israeli and United States private business entities or a joint venture comprised of both Israeli academic persons (who reside and work in Israel) and United States academic persons.” The Congressional Budget Office estimates that implementing the bill will require $4m in 2008 and $35m from 2008-2012. Included in that amount is the board budget estimated at $1m annually. However, the CBO estimates that direct spending and revenues would not surpass $500,000 in any year.
See also: companion measure S. 838 on 3/12/07; similar measure H.R. 2229 on 5/9/07; and related measures H.R. 6 on 1/12/07, H.R. 3220 on 7/30/07, and H.R. 3221 on 7/30/07.