COMPREHENSIVE STUDY OF BIOFUELS.

SEC. 15322. COMPREHENSIVE STUDY OF BIOFUELS.(a) Study.—The Secretary of the Treasury, in consultation with the Secretary of Agriculture, the Secretary of Energy, and the Administrator of the Environmental Protection Agency, shall enter into an agreement with the National Academy of Sciences to produce an analysis of current scientific findings to determine—(1) current biofuels production, as well as projections for future production,(2) the maximum amount of biofuels production capable in United States forests and farmlands, including the current quantities and character of the feedstocks and including such information as regional forest inventories that are commercially available, used in the production of biofuels,122 STAT. 1515(3) the domestic effects of an increase in biofuels production levels, including the effects of such levels on—(A) the price of fuel,(B) the price of land in rural and suburban communities,(C) crop acreage, forest acreage, and other land use,(D) the environment, due to changes in crop acreage, fertilizer use, runoff, water use, emissions from vehicles utilizing biofuels, and other factors,(E) the price of feed,(F) the selling price of grain crops and forest products,(G) exports and imports of grains and forest products,(H) taxpayers, through cost or savings to commodity crop payments, and(I) the expansion of refinery capacity,(4) the ability to convert corn ethanol plants for other uses, such as cellulosic ethanol or biodiesel,(5) a comparative analysis of corn ethanol versus other biofuels and renewable energy sources, considering cost, energy output, and ease of implementation,(6) the impact of the tax credit established by this subpart on the regional agricultural and silvicultural capabilities of commercially available forest inventories, and(7) the need for additional scientific inquiry, and specific areas of interest for future research.(b) Report.—The Secretary of the Treasury shall submit an initial report of the findings of the study required under subsection (a) to Congress not later than 6 months after the date of the enactment of this Act (36 months after such date in the case of the information required by subsection (a)(6)), and a final report not later than 12 months after such date (42 months after such date in the case of the information required by subsection (a)(6)).