A $700 million motor rebate bill for an energy-efficient motor rebate program has been introduced in the House of Representatives as HR 4031. Its promoters, who had a similar idea built into the energy/climate change bill, say they are trying to avoid the political roadblocks that have that piece of legislation stalled.
Similar to the previous legislative proposal, this bill authorizes a federal rebate program for the purchase of NEMA Premium motors. The newly introduced bill, however, doubles the authorized amount from $350 million to $700 million. If the bill is enacted into law as written, it will create a federal rebate program that will provide a $25/hp rebate for the purchase of NEMA Premium energy-efficient motors. It also provides for a $5/hp rebate for the proper disposal of the less efficient, non-NEMA Premium motor.
There's more info on the NEMA site: http://www.nema.org/media/pr/20091109a.cfm