House committee substitute makes the following changes to 1st edition. Deletes the 1st edition and replaces it with AN ACT TO DIRECT THE ENVIRONMENTAL REVIEW COMMISSION, WITH THE ASSISTANCE OF THE DEPARTMENT OF COMMERCE, TO STUDY THE DEVELOPMENT OF NATURAL GAS, OIL, WIND, SOLAR, AND OTHER ENERGY SOURCES CAPABLE OF ENERGY PRODUCTION IN NORTH CAROLINA.
Directs the Environmental Review Commission (ERC), with the assistance of the Department of Commerce (Department), to study the development of energy sources, including natural gas, oil, wind, and solar, capable of energy production for the purposes of aiding North Carolina in becoming more (1) self-reliant regarding its energy supplies and (2) independent of foreign energy markets. Specifies the following issues and topics to be covered in the study: (1) identifying prospective energy companies that explore for and produce energy from natural gas, oil, wind, solar, or other energy sources capable of energy production; (2) inviting energy exploration and production companies to the state to present ERC and the Department with specific proposals for energy production in North Carolina; (3) considering actions to promote the development of natural gas, oil, wind, solar, and other energy sources in the state, specifically the use of incentives such as tax credits and other financial incentives; and (4) considering changes to state law to reduce the regulatory burden on energy development and production in North Carolina.
Requires ERC and the Department to report any findings, recommendations, and legislative proposals to the 2012 Regular Session of the 2011 General Assembly.