II 

110TH CONGRESS 

1ST SESSION S. 309 

To amend the Clean Air Act to reduce emissions of carbon dioxide, and 

for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JANUARY 16, 2007 

Mr. SANDERS (for himself, Mrs. BOXER, Mr. KENNEDY, Mr. MENENDEZ, Mr. 

LAUTENBERG, Mr. LEAHY, Mr. REED, Mr. AKAKA, Mr. INOUYE, Mr. 

FEINGOLD, and Mr. WHITEHOUSE) introduced the following bill; which 

was read twice and referred to the Committee on Environment and Public 

Works 

A BILL 

To amend the Clean Air Act to reduce emissions of carbon 

dioxide, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Global Warming Pollu5 tion Reduction Act’’. 

6 SEC. 2. GLOBAL WARMING POLLUTION EMISSION REDUC7 TIONS. 

8 The Clean Air Act (42 U.S.C. 7401 et seq.) is amend9 ed by adding at the end the following: 


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1 ‘‘TITLE VII—COMPREHENSIVE 

2 GLOBAL WARMING POLLU3 TION REDUCTIONS 

‘‘Sec. 701. Findings. 

‘‘Sec. 702. Purposes. 

‘‘Sec. 703. Definitions. 

‘‘Sec. 704. Global warming pollution emission reductions. 

‘‘Sec. 705. Conditions for accelerated global warming pollution emission reduction. 

‘‘Sec. 706. Use of allowances for transition assistance and other purposes. 

‘‘Sec. 707. Vehicle emission standards. 

‘‘Sec. 708. Emission standards for electric generation units. 

‘‘Sec. 709. Low-carbon generation requirement. 

‘‘Sec. 710. Geological disposal of global warming pollutants. 

‘‘Sec. 711. Research and development. 

‘‘Sec. 712. Energy efficiency performance standard. 

‘‘Sec. 713. Renewable portfolio standard. 

‘‘Sec. 714. Standards to account for biological sequestration of carbon. 

‘‘Sec. 715. Global warming pollution reporting. 

‘‘Sec. 716. Clean energy technology deployment in developing countries. 

‘‘Sec. 717. Paramount interest waiver. 

‘‘Sec. 718. Effect on other law. 

4 ‘‘SEC. 701. FINDINGS. 

5 ‘‘Congress finds that— 

6 ‘‘(1) global warming poses a significant threat 

7 to the national security and economy of the United 

8 States, public health and welfare, and the global en9 vironment; 

10 ‘‘(2) due largely to an increased use of energy 

11 from fossil fuels, human activities are primarily re12 sponsible for the release of carbon dioxide and other 

13 heat-trapping global warming pollutants that are ac14 cumulating in the atmosphere and causing surface 

15 air and subsurface ocean temperatures to rise; 


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1 ‘‘(3) as of the date of enactment of this title, 

2 atmospheric concentrations of carbon dioxide are 35 

3 percent higher than those concentrations were 150 

4 years ago, at 378 parts per million compared to 280 

5 parts per million; 

6 ‘‘(4) the United States emits more global warm7 ing pollutants than any other country, and United 

8 States carbon dioxide emissions have increased by an 

9 average of 1.3 percent annually since 1990; 

10 ‘‘(5)(A) during the past 100 years, global tem11 peratures have risen by 1.44 degrees Fahrenheit; 

12 and 

13 ‘‘(B) from 1970 to the present, those tempera14 tures have risen by almost 1 degree Fahrenheit; 

15 ‘‘(6) 8 years during the 10-year period begin16 ning January 1, 1996, and ending December 31, 

17 2005, were among the 10 warmest years on record; 

18 ‘‘(7) average temperatures in the Arctic have 

19 increased by 4 to 7 degrees Fahrenheit during the 

20 past 50 years; 

21 ‘‘(8) global warming has caused— 

22 ‘‘(A) ocean temperatures to increase, re23 sulting in rising sea levels, extensive bleaching 

24 of coral reefs worldwide, and an increase in the 

25 intensity of tropical storms; 


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1 ‘‘(B) the retreat of Arctic sea ice by an av2 erage of 9 percent per decade since 1978; 

3 ‘‘(C) the widespread thawing of permafrost 

4 in polar, subpolar, and mountainous regions; 

5 ‘‘(D) the redistribution and loss of species; 

6 and 

7 ‘‘(E) the rapid shrinking of glaciers; 

8 ‘‘(9) the United States must adopt a com9 prehensive and effective national program of manda10 tory limits and incentives to reduce global warming 

11 pollution emissions into the atmosphere; 

12 ‘‘(10) at the current rate of emission, global 

13 warming pollution concentrations in the atmosphere 

14 could reach more than 600 parts per million in car15 bon dioxide equivalent, and global average mean 

16 temperature could rise an additional 2.7 to 11 de17 grees Fahrenheit, by the end of the century; 

18 ‘‘(11) although an understanding of all details 

19 of the Earth system is not yet complete, present 

20 knowledge indicates that potential future tempera21 ture increases could result in— 

22 ‘‘(A) the further or complete melting of the 

23 Antarctic and Greenland ice sheets; 


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1 ‘‘(B) the disruption of the North-Atlantic 

2 Thermohaline Circulation (commonly known as 

3 the ‘Gulf Stream’); 

4 ‘‘(C) the extinction of species; and 

5 ‘‘(D) large-scale disruptions of the natural 

6 systems that support life; 

7 ‘‘(12) there exists an array of technological op8 tions for use in reducing global warming pollution 

9 emissions, and significant reductions can be attained 

10 using a portfolio of options that will not adversely 

11 impact the economy; 

12 ‘‘(13) the ingenuity of the people of the United 

13 States will allow the Nation to become a leader in 

14 solving global warming; and 

15 ‘‘(14) it should be a goal of the United States 

16 to achieve a reduction in global warming pollution 

17 emissions in the United States— 

18 ‘‘(A) to ensure that the average global 

19 temperature does not increase by more than 3.6 

20 degrees Fahrenheit (2 degrees Celsius); and 

21 ‘‘(B) to facilitate the achievement of an av22 erage global atmospheric concentration of global 

23 warming pollutants that does not exceed 450 

24 parts per million in carbon dioxide equivalent. 


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1 ‘‘SEC. 702. PURPOSES. 

2 ‘‘The purposes of this title are— 

3 ‘‘(1) to achieve a reduction in global warming 

4 pollution emissions compatible with ensuring that— 

5 ‘‘(A) the average global temperature does 

6 not increase by more than 3.6 degrees Fahr7 enheit (2 degrees Celsius) above the 

8 preindustrial average; and 

9 ‘‘(B) total average global atmospheric con10 centrations of global warming pollutants do not 

11 exceed 450 parts per million in carbon dioxide 

12 equivalent; 

13 ‘‘(2) to reduce by calendar year 2050 the aggre14 gate net level of global warming pollution emissions 

15 of the United States to a level that is 80 percent 

16 below the aggregate net level of global warming pol17 lution emissions for calendar year 1990; 

18 ‘‘(3) to allow for an acceleration of reductions 

19 in global warming pollution emissions to prevent— 

20 ‘‘(A) average global temperature from in21 creasing by more than 3.6 degrees Fahrenheit 

22 (2 degrees Celsius) above the preindustrial av23 erage; or 

24 ‘‘(B) global atmospheric concentrations of 

25 global warming pollutants from exceeding 450 

26 parts per million; 


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1 ‘‘(4) to establish a motor vehicle global warm2 ing pollution emission requirement; 

3 ‘‘(5) to require electric generation units to meet 

4 a global warming pollution emission standard; 

5 ‘‘(6) to establish rules for the safe geological se6 questration of carbon dioxide; 

7 ‘‘(7) to encourage energy efficiency and the use 

8 of renewable energy by establishing a renewable 

9 portfolio standard and an energy efficiency portfolio 

10 standard; 

11 ‘‘(8) to provide for research relating to, and de12 velopment of, the technologies to control global 

13 warming pollution emissions; 

14 ‘‘(9) to position the United States as the world 

15 leader in reducing the risk of the potentially dev16 astating, wide-ranging impacts associated with glob17 al warming; and 

18 ‘‘(10) to promote, through leadership by the 

19 United States, accelerated reductions in global 

20 warming pollution from other countries with signifi21 cant global warming pollution emissions. 

22 ‘‘SEC. 703. DEFINITIONS. 

23 ‘‘In this title: 

24 ‘‘(1) ACADEMY.—The term ‘Academy’ means 

25 the National Academy of Sciences. 


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1 ‘‘(2) CARBON DIOXIDE EQUIVALENT.—The 

2 term ‘carbon dioxide equivalent’ means, for each 

3 global warming pollutant, the quantity of the global 

4 warming pollutant that makes the same contribution 

5 to global warming as 1 metric ton of carbon dioxide, 

6 as determined by the Administrator, taking into ac7 count the study and report described in section 

8 705(a). 

9 ‘‘(3) FACILITY.—The term ‘facility’ means all 

10 buildings, structures, or installations that are— 

11 ‘‘(A) located on 1 or more contiguous or 

12 adjacent properties under common control of 

13 the same persons; and 

14 ‘‘(B) located in the United States. 

15 ‘‘(4) GLOBAL WARMING POLLUTANT.—The 

16 term ‘global warming pollutant’ means— 

17 ‘‘(A) carbon dioxide; 

18 ‘‘(B) methane; 

19 ‘‘(C) nitrous oxide; 

20 ‘‘(D) hydrofluorocarbons; 

21 ‘‘(E) perfluorocarbons; 

22 ‘‘(F) sulfur hexafluoride; and 

23 ‘‘(G) any other anthropogenically-emitted 

24 gas that the Administrator, after notice and 


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1 comment, determines to contribute to global 

2 warming. 

3 ‘‘(5) GLOBAL WARMING POLLUTION.—The term 

4 ‘global warming pollution’ means any combination of 

5 1 or more global warming pollutants emitted into 

6 the ambient air or atmosphere. 

7 ‘‘(6) MARKET-BASED PROGRAM.—The term 

8 ‘market-based program’ means a program that 

9 places an absolute limit on the aggregate net global 

10 warming pollution emissions of 1 or more sectors of 

11 the economy of the United States, while allowing the 

12 transfer or sale of global warming pollution emission 

13 allowances. 

14 ‘‘(7) NAS REPORT.—The term ‘NAS report’ 

15 means a report completed by the Academy under 

16 subsection (a) or (b) of section 705. 

17 ‘‘SEC. 704. GLOBAL WARMING POLLUTION EMISSION RE18 DUCTIONS. 

19 ‘‘(a) EMISSION REDUCTION GOAL.—Congress de20 clares that— 

21 ‘‘(1) it shall be the goal of the United States, 

22 acting in concert with other countries that emit glob23 al warming pollutants, to achieve a reduction in 

24 global warming pollution emissions— 


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1 ‘‘(A) to ensure that the average global 

2 temperature does not increase by more than 3.6 

3 degrees Fahrenheit (2 degrees Celsius); and 

4 ‘‘(B) to facilitate the achievement of an av5 erage global atmospheric concentration of global 

6 warming pollutants that does not exceed 450 

7 parts per million in carbon dioxide equivalent; 

8 and 

9 ‘‘(2) in order to achieve the goal described in 

10 paragraph (1), the United States shall reduce the 

11 global warming pollution emissions of the United 

12 States by a quantity that is proportional to the 

13 share of the United States of the reductions that are 

14 necessary— 

15 ‘‘(A) to ensure that the average global 

16 temperature does not increase more than 3.6 

17 degrees Fahrenheit (2 degrees Celsius); and 

18 ‘‘(B) to stabilize average global warming 

19 pollution concentrations globally at or below 

20 450 parts per million in carbon dioxide equiva21 lent. 

22 ‘‘(b) EMISSION REDUCTION MILESTONES FOR

23 2020.— 

24 ‘‘(1) IN GENERAL.—To achieve the goal de25 scribed in subsection (a)(1), not later than 2 years 


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1 after the date of enactment of this title, after an op2 portunity for public notice and comment, the Admin3 istrator shall promulgate any rules that are nec4 essary to reduce, by not later than January 1, 2020, 

5 the aggregate net levels of global warming pollution 

6 emissions of the United States to the aggregate net 

7 level of those global warming pollution emissions 

8 during calendar year 1990. 

9 ‘‘(2) ACHIEVEMENT OF MILESTONES.—To the 

10 maximum extent practicable, the reductions de11 scribed in paragraph (1) shall be achieved through 

12 an annual reduction in the aggregate net level of 

13 global warming pollution emissions of the United 

14 States of approximately 2 percent for each of cal15 endar years 2010 through 2020. 

16 ‘‘(c) EMISSION REDUCTION MILESTONES FOR 2030, 

17 2040, AND 2050.—Except as described in subsection (d), 

18 not later than January 1, 2018, after an opportunity for 

19 public notice and comment, the Administrator shall pro20 mulgate any rules that are necessary to reduce the aggre21 gate net levels of global warming pollution emissions of 

22 the United States— 

‘‘(1) by calendar year 2030, by 1 23 ⁄3 of 80 percent 

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1 tion emissions of the United States during calendar 

2 year 1990; 

‘‘(2) by calendar year 2040, by 2 3 ⁄3 of 80 percent 

4 of the aggregate net level of the global warming pol5 lution emissions of the United States during cal6 endar year 1990; and 

7 ‘‘(3) by calendar year 2050, by 80 percent of 

8 the aggregate net level of global warming pollution 

9 emissions of the United States during calendar year 

10 1990. 

11 ‘‘(d) ACCELERATED EMISSION REDUCTION MILE12 STONES.—If an NAS report determines that any of the 

13 events described in section 705(a)(2) have occurred, or are 

14 more likely than not to occur in the foreseeable future, 

15 not later than 2 years after the date of completion of the 

16 NAS report, the Administrator, after an opportunity for 

17 public notice and comment and taking into account the 

18 new information reported in the NAS report, may adjust 

19 the milestones under this section and promulgate any 

20 rules that are necessary— 

21 ‘‘(1) to reduce the aggregate net levels of global 

22 warming pollution emissions from the United States 

23 on an accelerated schedule; and 

24 ‘‘(2) to minimize the effects of rapid climate 

25 change and achieve the goals of this title. 


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1 ‘‘(e) REPORT ON ACHIEVEMENT OF MILESTONES.— 

2 If an NAS report determines that a milestone under para3 graph (1) or (2) of subsection (c) cannot be achieved be4 cause of technological infeasibility, the Administrator shall 

5 submit to Congress a notification of that determination. 

6 ‘‘(f) EMISSION REDUCTION POLICIES.— 

7 ‘‘(1) IN GENERAL.—In implementing sub8 sections (a) through (e), the Administrator may es9 tablish 1 or more market-based programs. 

10 ‘‘(2) MARKET-BASED PROGRAM POLICIES.— 

11 ‘‘(A) IN GENERAL.—In implementing any 

12 market-based program, the Administrator shall 

13 allocate to households, communities, and other 

14 entities described in section 706(a) any global 

15 warming pollution emission allowances that are 

16 not allocated to entities covered under the emis17 sion limitation. 

18 ‘‘(B) RECOGNITION OF EMISSION REDUC19 TIONS MADE IN COMPLIANCE WITH STATE AND

20 LOCAL LAWS.—A market-based program may 

21 recognize reductions of global warming pollu22 tion emissions made before the effective date of 

23 the market-based program if the Administrator 

24 determines that— 


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1 ‘‘(i)(I) the reductions were made in 

2 accordance with a State or local law; 

3 ‘‘(II) the State or local law is at least 

4 as stringent as the rules established for the 

5 market-based program under paragraph 

6 (1); and 

7 ‘‘(III) the reductions are at least as 

8 verifiable as reductions made in accordance 

9 with those rules; or 

10 ‘‘(ii) for any given entity subject to 

11 the market-based program, the entity dem12 onstrates that the entity has made entity13 wide reductions of global warming pollu14 tion emissions before the effective date of 

15 the market-based program, but not earlier 

16 than calendar year 1992, that are at least 

17 as verifiable as reductions made in accord18 ance with the rules established for the 

19 market-based program under paragraph 

20 (1). 

21 ‘‘(C) PUBLICATION.—If the Administrator 

22 determines that it is necessary to establish a 

23 market-based program, the Administrator shall 

24 publish notice of the determination in the Fed25 eral Register. 


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1 ‘‘(D) LIMITATIONS ON MARKET-BASED

2 PROGRAMS.— 

3 ‘‘(i) DEFINITIONS.—In this subpara4 graph: 

5 ‘‘(I) ANNUAL ALLOWANCE

6 PRICE.—The term ‘annual allowance 

7 price’ means the average market price 

8 of global warming pollution emission 

9 allowances for a calendar year. 

10 ‘‘(II) DECLINING EMISSIONS CAP

11 WITH A TECHNOLOGY-INDEXED STOP

12 PRICE.—The term ‘declining emis13 sions cap with a technology-indexed 

14 stop price’ means a feature of a mar15 ket-based program for an industrial 

16 sector, or on an economy-wide basis, 

17 under which the emissions cap de18 clines by a fixed percentage each cal19 endar year or, during any year in 

20 which the annual allowance price ex21 ceeds the technology-indexed stop 

22 price, the emissions cap remains the 

23 same until the occurrence of the ear24 lier of— 


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1 ‘‘(aa) the date on which the 

2 annual allowance price no longer 

3 exceeds the technology-indexed 

4 stop price; or 

5 ‘‘(bb) the date on which a 

6 period of 3 years has elapsed 

7 during which the emissions cap 

8 has remained unchanged. 

9 ‘‘(III) EMISSIONS CAP.—The 

10 term ‘emissions cap’ means the total 

11 number of global warming pollution 

12 emission allowances issued for a cal13 endar year. 

14 ‘‘(IV) TECHNOLOGY-INDEXED

15 STOP PRICE.—The term ‘technology16 indexed stop price’ means a price per 

17 ton of global warming pollution emis18 sions determined annually by the Ad19 ministrator that is not less than the 

20 technology-specific average cost of 

21 preventing the emission of 1 ton of 

22 global warming pollutants through 

23 commercial deployment of any avail24 able zero-carbon or low-carbon tech25 nologies. With respect to the elecVerDate Aug 31 2005 18:43 Jan 17, 2007 Jkt 059200 PO 00000 Frm 00016 Fmt 6652 Sfmt 6201 E:\BILLS\S309.IS S309

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1 tricity sector, those technologies shall 

2 consist of— 

3 ‘‘(aa) wind-generated elec4 tricity; 

5 ‘‘(bb) photovoltaic-generated 

6 electricity; 

7 ‘‘(cc) geothermal energy; 

8 ‘‘(dd) solar thermally-gen9 erated energy; 

10 ‘‘(ee) wave-based forms of 

11 energy; 

12 ‘‘(ff) any fossil fuel-based 

13 electric generating technology 

14 emitting less than 250 pounds 

15 per megawatt hour; and 

16 ‘‘(gg) any zero-carbon-emit17 ting electric generating tech18 nology that does not generate ra19 dioactive waste. 

20 ‘‘(ii) IMPLEMENTATION.—In imple21 menting any market-based program under 

22 this Act, for the period prior to January 1, 

23 2020, the Administrator shall consider the 

24 impact on the economy of the United 

25 States of implementing the program with a 


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1 declining emissions cap through the use of 

2 a technology-indexed stop price. 

3 ‘‘(iii) OTHER EMITTING SECTORS.— 

4 The Administrator may consider the use of 

5 a declining emissions cap with a tech6 nology-indexed stop price, or similar ap7 proaches, for other emitting sectors based 

8 on low-carbon or zero-carbon technologies, 

9 including— 

10 ‘‘(I) biofuels; 

11 ‘‘(II) hydrogen power; and 

12 ‘‘(III) other sources of energy 

13 and transportation fuel. 

14 ‘‘(g) COST-EFFECTIVENESS.—In promulgating regu15 lations under this section, the Administrator shall select 

16 the most cost-effective options for global warming pollu17 tion control and emission reduction strategies. 

18 ‘‘SEC. 705. CONDITIONS FOR ACCELERATED GLOBAL WARM19 ING POLLUTION EMISSION REDUCTION. 

20 ‘‘(a) REPORT ON GLOBAL CHANGE EVENTS BY THE

21 ACADEMY.— 

22 ‘‘(1) IN GENERAL.—The Administrator shall 

23 offer to enter into a contract with the Academy 

24 under which the Academy, not later than 2 years 

25 after the date of enactment of this title, and every 


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1 3 years thereafter, shall submit to Congress and the 

2 Administrator a report that describes whether any of 

3 the events described in paragraph (2)— 

4 ‘‘(A) have occurred or are more likely than 

5 not to occur in the foreseeable future; and 

6 ‘‘(B) in the judgment of the Academy, are 

7 the result of anthropogenic climate change. 

8 ‘‘(2) EVENTS.—The events referred to in para9 graph (1) are— 

10 ‘‘(A) the exceedance of an atmospheric 

11 concentration of global warming pollutants of 

12 450 parts per million in carbon dioxide equiva13 lent; and 

14 ‘‘(B) an increase of global average tem15 peratures in excess of 3.6 degrees Fahrenheit 

16 (2 degrees Celsius) above the preindustrial av17 erage. 

18 ‘‘(b) TECHNOLOGY REPORTS.— 

19 ‘‘(1) DEFINITION OF TECHNOLOGICALLY IN20 FEASIBLE.—In this subsection, the term ‘techno21 logically infeasible’, with respect to a technology, 

22 means that the technology— 

23 ‘‘(A) will not be demonstrated beyond lab24 oratory-scale conditions; 

25 ‘‘(B) would be unsafe; 


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1 ‘‘(C) would not reliably reduce global 

2 warming pollution emissions; or 

3 ‘‘(D) would prevent the activity to which 

4 the technology applies from meeting or per5 forming its primary purpose (such as gener6 ating electricity or transporting goods or indi7 viduals). 

8 ‘‘(2) REPORTS.—The Administrator shall offer 

9 to enter into a contract with the Academy under 

10 which the Academy, not later than 2 years after the 

11 date of enactment of this title and every 3 years 

12 thereafter, shall submit to Congress and the Admin13 istrator a report that describes or analyzes— 

14 ‘‘(A) the status of current global warming 

15 pollution emission reduction technologies, in16 cluding— 

17 ‘‘(i) technologies for capture and dis18 posal of global warming pollutants; 

19 ‘‘(ii) efficiency improvement tech20 nologies; 

21 ‘‘(iii) zero-global-warming-pollution22 emitting energy technologies; and 

23 ‘‘(iv) above- and below-ground biologi24 cal sequestration technologies; 


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1 ‘‘(B) whether any of the requirements 

2 under this title (including regulations promul3 gated under this title) mandate a level of emis4 sion control or reduction that, based on avail5 able or expected technology, will be techno6 logically infeasible at the time at which the re7 quirements become effective; 

8 ‘‘(C) the projected date on which any tech9 nology determined to be technologically infeasi10 ble will become technologically feasible; 

11 ‘‘(D) whether any technology determined 

12 to be technologically infeasible cannot reason13 ably be expected to become technologically fea14 sible prior to calendar year 2050; and 

15 ‘‘(E) the costs of available alternative glob16 al warming pollution emission reduction strate17 gies that could be used or pursued in lieu of 

18 any technologies that are determined to be tech19 nologically infeasible. 

20 ‘‘(3) REPORT EVALUATING 2050 MILESTONE.— 

21 Not later than December 31, 2037, the Adminis22 trator shall offer to enter into a contract with the 

23 Academy under which, not later than December 31, 

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1 priateness of the milestone described in section 

2 704(c)(3), taking into consideration— 

3 ‘‘(A) information that was not available as 

4 of the date of enactment of this title; and 

5 ‘‘(B) events that have occurred since that 

6 date relating to— 

7 ‘‘(i) climate change; 

8 ‘‘(ii) climate change technologies; and 

9 ‘‘(iii) national and international cli10 mate change commitments. 

11 ‘‘(c) ADDITIONAL ITEMS IN NAS REPORT.—In addi12 tion to the information described in subsection (a)(1) that 

13 is required to be included in the NAS report, the Academy 

14 shall include in the NAS report— 

15 ‘‘(1) an analysis of the trends in annual global 

16 warming pollution emissions by the United States 

17 and the other countries that collectively account for 

18 more than 90 percent of global warming pollution 

19 emissions (including country-specific inventories of 

20 global warming pollution emissions and facility-spe21 cific inventories of global warming pollution emis22 sions in the United States); 

23 ‘‘(2) an analysis of the trends in global warm24 ing pollution concentrations (including observed atVerDate Aug 31 2005 18:43 Jan 17, 2007 Jkt 059200 PO 00000 Frm 00022 Fmt 6652 Sfmt 6201 E:\BILLS\S309.IS S309

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1 mospheric concentrations of global warming pollut2 ants); 

3 ‘‘(3) a description of actual and projected global 

4 change impacts that may be caused by anthropo5 genic global warming pollution emissions, in addition 

6 to the events described in subsection (a)(2); and 

7 ‘‘(4) such other information as the Academy de8 termines to be appropriate. 

9 ‘‘SEC. 706. USE OF ALLOWANCES FOR TRANSITION ASSIST10 ANCE AND OTHER PURPOSES. 

11 ‘‘(a) REGULATIONS GOVERNING ALLOCATION OF AL12 LOWANCES FOR TRANSITION ASSISTANCE TO INDIVID13 UALS AND ENTITIES.— 

14 ‘‘(1) IN GENERAL.—In implementing any mar15 ket-based program, the Administrator may promul16 gate regulations providing for the allocation of global 

17 warming pollution emission allowances to the indi18 viduals and entities, or for the purposes, specified in 

19 subsection (b). 

20 ‘‘(2) REQUIREMENTS.—Regulations promul21 gated under paragraph (1) may, as the Adminis22 trator determines to be necessary, provide for the 

23 appointment of 1 or more trustees— 


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1 ‘‘(A) to receive emission allowances for the 

2 benefit of households, communities, and other 

3 entities described in paragraph (1); 

4 ‘‘(B) to sell the emission allowances at fair 

5 market value; and 

6 ‘‘(C) to distribute the proceeds of any sale 

7 of emission allowances to the appropriate bene8 ficiaries. 

9 ‘‘(b) ALLOCATION FOR TRANSITION ASSISTANCE.— 

10 The Administrator may allocate emission allowances, in 

11 accordance with regulations promulgated under subsection 

12 (a), to— 

13 ‘‘(1) communities, individuals, and companies 

14 that have experienced disproportionate adverse im15 pacts as a result of— 

16 ‘‘(A) the transition to a lower carbon-emit17 ting economy; or 

18 ‘‘(B) global warming; 

19 ‘‘(2) owners and operators of highly energy-effi20 cient buildings, including— 

21 ‘‘(A) residential users; 

22 ‘‘(B) producers of highly energy-efficient 

23 products; and 

24 ‘‘(C) entities that carry out energy-effi25 ciency improvement projects pursuant to section 


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1 712 that result in consumer-side reductions in 

2 electricity use; 

3 ‘‘(3) entities that will use the allowances for the 

4 purpose of carrying out geological sequestration of 

5 carbon dioxide produced by an anthropogenic global 

6 warming pollution emission source in accordance 

7 with requirements established by the Administrator; 

8 ‘‘(4) such individuals and entities as the Admin9 istrator determines to be appropriate, for use in car10 rying out projects to reduce net carbon dioxide emis11 sions through above-ground and below-ground bio12 logical carbon dioxide sequestration (including se13 questration in forests, forest soils, agricultural soils, 

14 rangeland, or grassland in the United States); 

15 ‘‘(5) such individuals and entities (including 

16 fish and wildlife agencies) as the Administrator de17 termines to be appropriate, for use in carrying out 

18 projects to protect and restore ecosystems (including 

19 fish and wildlife) affected by climate change; and 

20 ‘‘(6) manufacturers producing consumer prod21 ucts that result in substantially reduced global 

22 warming pollution emissions, for use in funding re23 bates for purchasers of those products. 

24 ‘‘SEC. 707. VEHICLE EMISSION STANDARDS. 

25 ‘‘(a) VEHICLES UNDER 10,000 POUNDS.— 


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1 ‘‘(1) IN GENERAL.—Not later than January 1, 

2 2010, the Administrator shall promulgate regula3 tions requiring each fleet of automobiles sold by a 

4 manufacturer in the United States beginning in 

5 model year 2016 to meet the standards for global 

6 warming pollution emissions described in paragraph 

7 (2). 

8 ‘‘(2) EMISSION STANDARDS.—The average glob9 al warming pollution emissions of a vehicle fleet de10 scribed in paragraph (1) shall not exceed— 

11 ‘‘(A) 205 carbon dioxide equivalent grams 

12 per mile for automobiles with— 

13 ‘‘(i) a gross vehicle weight of not more 

14 than 8,500 pounds; and 

15 ‘‘(ii) a loaded vehicle weight of not 

16 more than 3,750 pounds; 

17 ‘‘(B) 332 carbon dioxide equivalent grams 

18 per mile for— 

19 ‘‘(i) automobiles with— 

20 ‘‘(I) a gross vehicle weight of not 

21 more than 8,500 pounds; and 

22 ‘‘(II) a loaded vehicle weight of 

23 more than 3,750 pounds; and 

24 ‘‘(ii) medium-duty passenger vehicles; 

25 and 


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1 ‘‘(C) 405 carbon dioxide equivalent grams 

2 per mile for vehicles— 

3 ‘‘(i) with a gross vehicle weight of be4 tween 8,501 pounds and 10,000 pounds; 

5 and 

6 ‘‘(ii) that are not medium-duty pas7 senger vehicles. 

8 ‘‘(3) HEIGHTENED STANDARDS.—After model 

9 year 2016, the Administrator may promulgate regu10 lations that increase the stringency of emission 

11 standards described in paragraph (2) as necessary to 

12 meet the emission reduction goal described in section 

13 704(e)(3). 

14 ‘‘(b) HIGHWAY VEHICLES OVER 10,000 POUNDS.— 

15 ‘‘(1) IN GENERAL.—Not later than January 1, 

16 2010, the Administrator shall promulgate regula17 tions requiring each fleet of highway vehicles over 

18 10,000 pounds sold by a manufacturer in the United 

19 States beginning in model year 2020 to meet the 

20 standards for global warming pollution emissions de21 scribed in paragraph (2). 

22 ‘‘(2) EMISSION STANDARDS.—The average glob23 al warming pollution emissions of a vehicle fleet de24 scribed in paragraph (1) shall not exceed— 


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1 ‘‘(A) 850 carbon dioxide equivalent grams 

2 per mile for highway vehicles with a gross vehi3 cle weight rating between 10,001 pounds and 

4 26,000 pounds; and 

5 ‘‘(B) 1,050 carbon dioxide equivalent 

6 grams per mile for highway vehicles with a 

7 gross vehicle weight rating of more than 26,000 

8 pounds. 

9 ‘‘(3) HEIGHTENED STANDARDS.—After model 

10 year 2020, the Administrator may promulgate regu11 lations that increase the stringency of emission 

12 standards described in paragraph (2) as necessary to 

13 meet the emission reduction goal described in section 

14 704(a)(1). 

15 ‘‘(c) ADJUSTMENT OF REQUIREMENTS.—Taking into 

16 account appropriate lead times for vehicle manufacturers, 

17 if the Academy determines, pursuant to an NAS report, 

18 that a vehicle emission standard under this section is or 

19 will be technologically infeasible as of the effective date 

20 of the standard, the Administrator may, by regulation, 

21 modify the requirement to take into account the deter22 mination of the Academy. 

23 ‘‘(d) STUDY.— 

24 ‘‘(1) IN GENERAL.—Not later than January 1, 

25 2008, the Administrator shall enter into a contract 


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1 with the Academy under which the Academy shall 

2 conduct a study of, and submit to the Administrator 

3 a report on, the potential contribution of the non4 highway portion of the transportation sector toward 

5 meeting the emission reduction goal described in sec6 tion 704(a)(1). 

7 ‘‘(2) REQUIREMENTS.—The study shall ana8 lyze— 

9 ‘‘(A) the technological feasibility and cost10 effectiveness of global warming pollution reduc11 tions from the non-highway sector; and 

12 ‘‘(B) the overall potential contribution of 

13 that sector in terms of emissions, in meeting 

14 the emission reduction goal described in section 

15 704(a)(1). 

16 ‘‘SEC. 708. EMISSION STANDARDS FOR ELECTRIC GENERA17 TION UNITS. 

18 ‘‘(a) INITIAL STANDARD.— 

19 ‘‘(1) IN GENERAL.—Not later than 2 years 

20 after the date of enactment of this title, the Admin21 istrator shall, by regulation, require each unit that 

22 is designed and intended to provide electricity at a 

23 unit capacity factor of at least 60 percent and that 

24 begins operation after December 31, 2011, to meet 

25 the standard described in paragraph (2). 


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1 ‘‘(2) STANDARD.—Beginning on December 31, 

2 2015, a unit described in paragraph (1) shall meet 

3 a global warming pollution emission standard that is 

4 not higher than the emission rate of a new combined 

5 cycle natural gas generating unit. 

6 ‘‘(3) MORE STRINGENT REQUIREMENTS.—For 

7 the period beginning on January 1 of the calendar 

8 year following the effective date of the regulation de9 scribed in paragraph (1) and ending on December 

10 31, 2029, the Administrator may increase the strin11 gency of the global warming pollution emission 

12 standard described in paragraph (1) with respect to 

13 electric generation units described in that para14 graph. 

15 ‘‘(b) FINAL STANDARD.—Not later than December 

16 31, 2030, the Administrator shall require each electric 

17 generation unit, regardless of when the unit began to oper18 ate, to meet the applicable emission standard under sub19 section (a). 

20 ‘‘(c) ADJUSTMENT OF REQUIREMENTS.—If the Acad21 emy determines, pursuant to section 705, that a require22 ment of this section is or will be technologically infeasible 

23 at the time at which the requirement becomes effective, 

24 the Administrator, may, by regulation, adjust or delay the 


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1 effective date of the requirement as is necessary to take 

2 into consideration the determination of the Academy. 

3 ‘‘SEC. 709. LOW-CARBON GENERATION REQUIREMENT. 

4 ‘‘(a) DEFINITIONS.—In this section: 

5 ‘‘(1) BASE QUANTITY OF ELECTRICITY.—The 

6 term ‘base quantity of electricity’ means the total 

7 quantity of electricity produced for sale by a covered 

8 generator during the calendar year immediately pre9 ceding a compliance year from coal, petroleum coke, 

10 lignite, or any combination of those fuels. 

11 ‘‘(2) COVERED GENERATOR.—The term ‘cov12 ered generator’ means an electric generating unit 

13 that— 

14 ‘‘(A) has a rated capacity of 25 megawatts 

15 or more; and 

16 ‘‘(B) has an annual fuel input at least 50 

17 percent of which is provided by coal, petroleum 

18 coke, lignite, or any combination of those fuels. 

19 ‘‘(3) LOW-CARBON GENERATION.—The term 

20 ‘low-carbon generation’ means electric energy gen21 erated from an electric generating unit at least 50 

22 percent of the annual fuel input of which, in any 

23 year— 


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1 ‘‘(A) is provided by coal, petroleum coke, 

2 lignite, biomass, or any combination of those 

3 fuels; and 

4 ‘‘(B) results in an emission rate into the 

5 atmosphere of not more than 250 pounds of 

6 carbon dioxide per megawatt-hour (after adjust7 ment for carbon dioxide from the electric gener8 ating unit that is geologically sequestered in a 

9 geological repository approved by the Adminis10 trator pursuant to subsection (e)). 

11 ‘‘(4) PROGRAM.—The term ‘program’ means 

12 the low-carbon generation credit trading program es13 tablished under subsection (d)(1). 

14 ‘‘(b) REQUIREMENT.— 

15 ‘‘(1) CALENDAR YEARS 2015 THROUGH 2020.— 

16 Of the base quantity of electricity produced for sale 

17 by a covered generator for a calendar year, the cov18 ered generator shall provide a minimum percentage 

19 of that base quantity of electricity for the calendar 

20 year from low-carbon generation, as specified in the 

21 following table: 

‘‘Calendar year: Minimum annual 

percentage: 

2015 ....................................................................... 0.5 

2016 ....................................................................... 1.0 

2017 ....................................................................... 2.0 

2018 ....................................................................... 3.0 

2019 ....................................................................... 4.0 


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2020 ....................................................................... 5.0 

1 ‘‘(2) CALENDAR YEARS 2021 THROUGH 2025.— 

2 For each of calendar years 2021 through 2025, the 

3 Administrator may increase the minimum percent4 age of the base quantity of electricity from low-car5 bon generation described in paragraph (1) by up to 

6 2 percentage points from the previous year, as the 

7 Administrator determines to be necessary to achieve 

8 the emission reduction goal described in section 

9 704(a)(1). 

10 ‘‘(3) CALENDAR YEARS 2026 THROUGH 2030.— 

11 For each of calendar years 2026 through 2030, the 

12 Administrator may increase the minimum percent13 age of the base quantity of electricity from low-car14 bon generation described in paragraph (1) by up to 

15 3 percentage points from the previous year, as the 

16 Administrator determines to be necessary to achieve 

17 the emission reduction goal described in section 

18 704(a)(1). 

19 ‘‘(c) MEANS OF COMPLIANCE.—An owner or operator 

20 of a covered generator shall comply with subsection (b) 

21 by— 

22 ‘‘(1) generating electric energy using low-carbon 

23 generation; 


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1 ‘‘(2) purchasing electric energy generated by 

2 low-carbon generation; 

3 ‘‘(3) purchasing low-carbon generation credits 

4 issued under the program; or 

5 ‘‘(4) undertaking a combination of the actions 

6 described in paragraphs (1) through (3). 

7 ‘‘(d) LOW-CARBON GENERATION CREDIT TRADING

8 PROGRAM.— 

9 ‘‘(1) IN GENERAL.—Not later than January 1, 

10 2008, the Administrator shall establish, by regula11 tion after notice and opportunity for comment, a 

12 low-carbon generation trading program to permit an 

13 owner or operator of a covered generator that does 

14 not generate or purchase enough electric energy 

15 from low-carbon generation to comply with sub16 section (b) to achieve that compliance by purchasing 

17 sufficient low-carbon generation credits. 

18 ‘‘(2) REQUIREMENTS.—As part of the program, 

19 the Administrator shall— 

20 ‘‘(A) issue to producers of low-carbon gen21 eration, on a quarterly basis, a single low-car22 bon generation credit for each kilowatt hour of 

23 low-carbon generation sold during the preceding 

24 quarter; and 


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1 ‘‘(B) ensure that a kilowatt hour, including 

2 the associated low-carbon generation credit, 

3 shall be used only once for purposes of compli4 ance with subsection (b). 

5 ‘‘(e) ENFORCEMENT.—An owner or operator of a cov6 ered generator that fails to comply with subsection (b) 

7 shall be subject to a civil penalty in an amount equal to 

8 the product obtained by multiplying— 

9 ‘‘(1) the number of kilowatt-hours of electric 

10 energy sold to electric consumers in violation of sub11 section (b); and 

12 ‘‘(2) the greater of— 

13 ‘‘(A) 2.5 cents (as adjusted under sub14 section (g)); or 

15 ‘‘(B) 200 percent of the average market 

16 value of those low-carbon generation credits 

17 during the year in which the violation occurred. 

18 ‘‘(f) EXEMPTION.—This section shall not apply for 

19 any calendar year to an owner or operator of a covered 

20 generator that sold less than 40,000 megawatt-hours of 

21 electric energy produced from covered generators during 

22 the preceding calendar year. 

23 ‘‘(g) INFLATION ADJUSTMENT.—Not later than De24 cember 31, 2008, and annually thereafter, the Adminis25 trator shall adjust the amount of the civil penalty for each 


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1 kilowatt-hour calculated under subsection (e)(2) to reflect 

2 changes for the 12-month period ending on the preceding 

3 November 30 in the Consumer Price Index for All Urban 

4 Consumers published by the Bureau of Labor Statistics 

5 of the Department of Labor. 

6 ‘‘(h) TECHNOLOGICAL INFEASIBILITY.—If the Acad7 emy determines, pursuant to section 705, that the sched8 ule for compliance described in subsection (b) is or will 

9 be technologically infeasible for covered generators to 

10 meet, the Administrator may, by regulation, adjust the 

11 schedule as the Administrator determines to be necessary 

12 to take into account the consideration of the determination 

13 of the Academy. 

14 ‘‘(i) TERMINATION OF AUTHORITY.—This section 

15 and the authority provided by this section terminate on 

16 December 31, 2030. 

17 ‘‘SEC. 710. GEOLOGICAL DISPOSAL OF GLOBAL WARMING 

18 POLLUTANTS. 

19 ‘‘(a) GEOLOGICAL CARBON DIOXIDE DISPOSAL DE20 PLOYMENT PROJECTS.— 

21 ‘‘(1) IN GENERAL.—The Administrator shall es22 tablish a competitive grant program to provide 

23 grants to 5 entities for the deployment of projects to 

24 geologically dispose of carbon dioxide (referred to in 


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1 this subsection as ‘geological disposal deployment 

2 projects’). 

3 ‘‘(2) LOCATION.—Each geological disposal de4 ployment project shall be conducted in a geologically 

5 distinct location in order to demonstrate the suit6 ability of a variety of geological structures for car7 bon dioxide disposal. 

8 ‘‘(3) COMPONENTS.—Each geological disposal 

9 deployment project shall include an analysis of— 

10 ‘‘(A) mechanisms for trapping the carbon 

11 dioxide to be geologically disposed; 

12 ‘‘(B) techniques for monitoring the geologi13 cally disposed carbon dioxide; 

14 ‘‘(C) public response to the geological dis15 posal deployment project; and 

16 ‘‘(D) the permanency of carbon dioxide 

17 storage in geological reservoirs. 

18 ‘‘(4) REQUIREMENTS.— 

19 ‘‘(A) IN GENERAL.—The Administrator 

20 shall establish— 

21 ‘‘(i) appropriate conditions for envi22 ronmental protection with respect to geo23 logical disposal deployment projects to pro24 tect public health and the environment; 

25 and 


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1 ‘‘(ii) requirements relating to applica2 tions for grants under this subsection. 

3 ‘‘(B) RULEMAKING.—The establishment of 

4 requirements under subparagraph (A) shall not 

5 require a rulemaking. 

6 ‘‘(C) MINIMUM REQUIREMENTS.—At a 

7 minimum, each application for a grant under 

8 this subsection shall include— 

9 ‘‘(i) a description of the geological dis10 posal deployment project proposed in the 

11 application; 

12 ‘‘(ii) an estimate of the quantity of 

13 carbon dioxide to be geologically disposed 

14 over the life of the geological disposal de15 ployment project; and 

16 ‘‘(iii) a plan to collect and disseminate 

17 data relating to each geological disposal 

18 deployment project to be funded by the 

19 grant. 

20 ‘‘(5) PARTNERS.—An applicant for a grant 

21 under this subsection may carry out a geological dis22 posal deployment project under a pilot program in 

23 partnership with 1 or more public or private entities. 


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1 ‘‘(6) SELECTION CRITERIA.—In evaluating ap2 plications under this subsection, the Administrator 

3 shall— 

4 ‘‘(A) consider the previous experience of 

5 each applicant with similar projects; and 

6 ‘‘(B) give priority consideration to applica7 tions for geological disposal deployment projects 

8 that— 

9 ‘‘(i) offer the greatest geological diver10 sity from other projects that have pre11 viously been approved; 

12 ‘‘(ii) are located in closest proximity 

13 to a source of carbon dioxide; 

14 ‘‘(iii) make use of the most affordable 

15 source of carbon dioxide; 

16 ‘‘(iv) are expected to geologically dis17 pose of the largest quantity of carbon diox18 ide; 

19 ‘‘(v) are combined with demonstra20 tions of advanced coal electricity genera21 tion technologies; 

22 ‘‘(vi) demonstrate the greatest com23 mitment on the part of the applicant to en24 sure funding for the proposed demonstra25 tion project and the greatest likelihood 


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1 that the demonstration project will be 

2 maintained or expanded after Federal as3 sistance under this subsection is com4 pleted; and 

5 ‘‘(vii) minimize any adverse environ6 mental effects from the project. 

7 ‘‘(7) PERIOD OF GRANTS.— 

8 ‘‘(A) IN GENERAL.—A geological disposal 

9 deployment project funded by a grant under 

10 this subsection shall begin construction not 

11 later than 3 years after the date on which the 

12 grant is provided. 

13 ‘‘(B) TERM.—The Administrator shall not 

14 provide grant funds to any applicant under this 

15 subsection for a period of more than 5 years. 

16 ‘‘(8) TRANSFER OF INFORMATION AND KNOWL17 EDGE.—The Administrator shall establish mecha18 nisms to ensure that the information and knowledge 

19 gained by participants in the program under this 

20 subsection are published and disseminated, including 

21 to other applicants that submitted applications for a 

22 grant under this subsection. 

23 ‘‘(9) SCHEDULE.— 

24 ‘‘(A) PUBLICATION.—Not later than 180 

25 days after the date of enactment of this title, 


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1 the Administrator shall publish in the Federal 

2 Register, and elsewhere as appropriate, a re3 quest for applications to carry out geological 

4 disposal deployment projects. 

5 ‘‘(B) DATE FOR APPLICATIONS.—An appli6 cation for a grant under this subsection shall be 

7 submitted not later than 180 days after the 

8 date of publication of the request under sub9 paragraph (A). 

10 ‘‘(C) SELECTION.—After the date by which 

11 applications for grants are required to be sub12 mitted under subparagraph (B), the Adminis13 trator, in a timely manner, shall select, after 

14 peer review and based on the criteria under 

15 paragraph (6), those geological disposal deploy16 ment projects to be provided a grant under this 

17 subsection. 

18 ‘‘(b) INTERIM STANDARDS.—Not later than 3 years 

19 after the date of enactment of this title, the Administrator, 

20 in consultation with the Secretary of Energy, shall, by reg21 ulation, establish interim geological carbon dioxide dis22 posal standards that address— 

23 ‘‘(1) site selection; 

24 ‘‘(2) permitting processes; 

25 ‘‘(3) monitoring requirements; 


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1 ‘‘(4) public participation; and 

2 ‘‘(5) such other issues as the Administrator and 

3 the Secretary of Energy determine to be appro4 priate. 

5 ‘‘(c) FINAL STANDARDS.—Not later than 6 years 

6 after the date of enactment of this title, taking into ac7 count the results of geological disposal deployment 

8 projects carried out under subsection (a), the Adminis9 trator shall, by regulation, establish final geological carbon 

10 dioxide disposal standards. 

11 ‘‘(d) CONSIDERATIONS.—In developing standards 

12 under subsections (b) and (c), the Administrator shall con13 sider the experience in the United States in regulating— 

14 ‘‘(1) underground injection of waste; 

15 ‘‘(2) enhanced oil recovery; 

16 ‘‘(3) short-term storage of natural gas; and 

17 ‘‘(4) long-term waste storage. 

18 ‘‘(e) TERMINATION OF AUTHORITY.—This section 

19 and the authority provided by this section terminate on 

20 December 31, 2030. 

21 ‘‘SEC. 711. RESEARCH AND DEVELOPMENT. 

22 ‘‘(a) IN GENERAL.—The Administrator shall carry 

23 out a program to perform and support research on global 

24 climate change standards and processes, with the goals 

25 of— 


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1 ‘‘(1) providing scientific and technical knowl2 edge applicable to the reduction of global warming 

3 pollutants; and 

4 ‘‘(2) facilitating implementation of section 704. 

5 ‘‘(b) RESEARCH PROGRAM.— 

6 ‘‘(1) IN GENERAL.—The Administrator shall 

7 carry out, directly or through the use of contracts or 

8 grants, a global climate change standards and proc9 esses research program. 

10 ‘‘(2) RESEARCH.— 

11 ‘‘(A) CONTENTS AND PRIORITIES.—The 

12 specific contents and priorities of the research 

13 program shall be determined in consultation 

14 with appropriate Federal agencies, including— 

15 ‘‘(i) the National Oceanic and Atmos16 pheric Administration; 

17 ‘‘(ii) the National Aeronautics and 

18 Space Administration; and 

19 ‘‘(iii) the Department of Energy. 

20 ‘‘(B) TYPES OF RESEARCH.—The research 

21 program shall include the conduct of basic and 

22 applied research— 

23 ‘‘(i) to develop and provide the en24 hanced measurements, calibrations, data, 

25 models, and reference material standards 


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1 necessary to enable the monitoring of glob2 al warming pollution; 

3 ‘‘(ii) to assist in establishing a base4 line reference point for future trading in 

5 global warming pollutants (including the 

6 measurement of progress in emission re7 ductions); 

8 ‘‘(iii) for international exchange as 

9 scientific or technical information for the 

10 stated purpose of developing mutually-rec11 ognized measurements, standards, and pro12 cedures for reducing global warming pollu13 tion; and 

14 ‘‘(iv) to assist in developing improved 

15 industrial processes designed to reduce or 

16 eliminate global warming pollution. 

17 ‘‘(3) ABRUPT CLIMATE CHANGE RESEARCH.— 

18 ‘‘(A) DEFINITION OF ABRUPT CLIMATE

19 CHANGE.—In this paragraph, the term ‘abrupt 

20 climate change’ means a change in climate that 

21 occurs so rapidly or unexpectedly that humans 

22 or natural systems may have difficulty adapting 

23 to the change. 

24 ‘‘(B) RESEARCH.—The Administrator shall 

25 carry out a program of scientific research on 


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1 potential abrupt climate change that is de2 signed— 

3 ‘‘(i) to develop a global array of ter4 restrial and oceanographic indicators of 

5 paleoclimate in order to identify and de6 scribe past instances of abrupt climate 

7 change; 

8 ‘‘(ii) to improve understanding of 

9 thresholds and nonlinearities in geophysical 

10 systems relating to the mechanisms of ab11 rupt climate change; 

12 ‘‘(iii) to incorporate those mechanisms 

13 into advanced geophysical models of cli14 mate change; and 

15 ‘‘(iv) to test the output of those mod16 els against an improved global array of 

17 records of past abrupt climate changes. 

18 ‘‘(c) SENSE OF THE SENATE.—It is the sense of the 

19 Senate that Federal funds for clean, low-carbon energy re20 search, development, and deployment should be increased 

21 by at least 100 percent for each year during the 10-year 

22 period beginning on the date of enactment of this title. 

23 ‘‘SEC. 712. ENERGY EFFICIENCY PERFORMANCE STAND24 ARD. 

25 ‘‘(a) DEFINITIONS.—In this section: 


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1 ‘‘(1) ELECTRICITY SAVINGS.— 

2 ‘‘(A) IN GENERAL.—The term ‘electricity 

3 savings’ means reductions in end-use electricity 

4 consumption relative to consumption by the 

5 same customer or at the same new or existing 

6 facility in a given year, as defined in regula7 tions promulgated by the Administrator under 

8 subsection (e). 

9 ‘‘(B) INCLUSIONS.—The term ‘savings’ in10 cludes savings achieved as a result of— 

11 ‘‘(i) installation of energy-saving tech12 nologies and devices; and 

13 ‘‘(ii) the use of combined heat and 

14 power systems, fuel cells, or any other 

15 technology identified by the Administrator 

16 that recaptures or generates energy solely 

17 for onsite customer use. 

18 ‘‘(C) EXCLUSION.—The term ‘savings’ 

19 does not include savings from measures that 

20 would likely be adopted in the absence of en21 ergy-efficiency programs, as determined by the 

22 Administrator. 

23 ‘‘(2) RETAIL ELECTRICITY SALES.—The term 

24 ‘retail electricity sales’ means the total quantity of 

25 electric energy sold by a retail electricity supplier to 


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1 retail customers during the most recent calendar 

2 year for which that information is available. 

3 ‘‘(3) RETAIL ELECTRICITY SUPPLIER.—The 

4 term ‘retail electricity supplier’ means a distribution 

5 or integrated utility, or an independent company or 

6 entity, that sells electric energy to consumers. 

7 ‘‘(b) ENERGY EFFICIENCY PERFORMANCE STAND8 ARD.—Each retail electricity supplier shall implement pro9 grams and measures to achieve improvements in energy 

10 efficiency and peak load reduction, as verified by the Ad11 ministrator. 

12 ‘‘(c) TARGETS.—For calendar year 2008 and each 

13 calendar year thereafter, the Administrator shall ensure 

14 that retail electric suppliers annually achieve electricity 

15 savings and reduce peak power demand and electricity use 

16 by retail customers by a percentage that is not less than 

17 the applicable target percentage specified in the following 

18 table: 

Calendar Year Reduction in peak demand 

Reduction in electricity 

use 

2008 ................................ .25 percent ..................... .25 percent 

2009 ................................ .75 percent ..................... .75 percent 

2010 ................................ 1.75 percent ................... 1.5 percent 

2011 ................................ 2.75 percent ................... 2.25 percent 

2012 ................................ 3.75 percent ................... 3.0 percent 

2013 ................................ 4.75 percent ................... 3.75 percent 

2014 ................................ 5.75 percent ................... 4.5 percent 

2015 ................................ 6.75 percent ................... 5.25 percent 

2016 ................................ 7.75 percent ................... 6.0 percent 

2017 ................................ 8.75 percent ................... 6.75 percent 

2018 ................................ 9.75 percent ................... 7.5 percent 

2019 ................................ 10.75 percent ................. 8.25 percent 

2020 and each calendar 

year thereafter.

11.75 percent ................. 9.0 percent 


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1 ‘‘(d) BEGINNING DATE.—For the purpose of meeting 

2 the targets established under subsection (c), electricity 

3 savings shall be calculated based on the sum of— 

4 ‘‘(1) savings realized as a result of actions 

5 taken by the retail electric supplier during the speci6 fied calendar year; and 

7 ‘‘(2) cumulative savings realized as a result of 

8 electricity savings achieved in all previous calendar 

9 years (beginning with calendar year 2006). 

10 ‘‘(e) IMPLEMENTING REGULATIONS.— 

11 ‘‘(1) IN GENERAL.—Not later than 1 year after 

12 the date of enactment of this title, the Administrator 

13 shall promulgate regulations to implement the tar14 gets established under subsection (c). 

15 ‘‘(2) REQUIREMENTS.—The regulations shall 

16 establish— 

17 ‘‘(A) a national credit system permitting 

18 credits to be awarded, bought, sold, or traded 

19 by and among retail electricity suppliers; 

20 ‘‘(B) a fee equivalent to not less than 4 

21 cents per kilowatt hour for retail energy sup22 pliers that do not meet the targets established 

23 under subsection (c); and 


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1 ‘‘(C) standards for monitoring and 

2 verification of electricity use and demand sav3 ings reported by the retail electricity suppliers. 

4 ‘‘(3) CONSIDERATION OF TRANSMISSION AND

5 DISTRIBUTION EFFICIENCY.—In developing regula6 tions under this subsection, the Administrator shall 

7 consider whether savings, in whole or part, achieved 

8 by retail electricity suppliers by improving the effi9 ciency of electric distribution and use should be eligi10 ble for credits established under this section. 

11 ‘‘(f) COMPLIANCE WITH STATE LAW.—Nothing in 

12 this section shall supersede or otherwise affect any State 

13 or local law requiring or otherwise relating to reductions 

14 in total annual electricity consumption, or peak power con15 sumption, by electric consumers to the extent that the 

16 State or local law requires more stringent reductions than 

17 those required under this section. 

18 ‘‘(g) VOLUNTARY PARTICIPATION.—The Adminis19 trator may— 

20 ‘‘(1) pursuant to the regulations promulgated 

21 under subsection (e)(1), issue a credit to any entity 

22 that is not a retail electric supplier if the entity im23 plements electricity savings; and 

24 ‘‘(2) in a case in which an entity described in 

25 paragraph (1) is a nonprofit or educational organiVerDate Aug 31 2005 18:43 Jan 17, 2007 Jkt 059200 PO 00000 Frm 00049 Fmt 6652 Sfmt 6201 E:\BILLS\S309.IS S309

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1 zation, provide to the entity 1 or more grants in lieu 

2 of a credit. 

3 ‘‘SEC. 713. RENEWABLE PORTFOLIO STANDARD. 

4 ‘‘(a) RENEWABLE ENERGY.— 

5 ‘‘(1) IN GENERAL.—The Administrator, in con6 sultation with the Secretary of Energy, shall promul7 gate regulations defining the types and sources of 

8 renewable energy generation that may be carried out 

9 in accordance with this section. 

10 ‘‘(2) INCLUSIONS.—In promulgating regulations 

11 under paragraph (1), the Administrator shall include 

12 of all types of renewable energy (as defined in sec13 tion 203(b) of the Energy Policy Act of 2005 (42 

14 U.S.C. 15852(b))) other than energy generated 

15 from— 

16 ‘‘(A) municipal solid waste; 

17 ‘‘(B) wood contaminated with plastics or 

18 metals; or 

19 ‘‘(C) tires. 

20 ‘‘(b) RENEWABLE ENERGY REQUIREMENT.—Of the 

21 base quantity of electricity sold by each retail electric sup22 plier to electric consumers during a calendar year, the 

23 quantity generated by renewable energy sources shall be 

24 not less than the following percentages: 


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‘‘Calendar year: Minimum annual 

percentage: 

2008 through 2009 ................................................ 5 

2010 through 2014 ................................................ 10 

2015 through 2019 ................................................ 15 

2020 and subsequent years .................................... 20 

1 ‘‘(c) RENEWABLE ENERGY CREDIT PROGRAM.—Not 

2 later than 1 year after the date of enactment of this title, 

3 the Administrator shall establish— 

4 ‘‘(1) a program to issue, establish the value of, 

5 monitor the sale or exchange of, and track renewable 

6 energy credits; and 

7 ‘‘(2) penalties for any retail electric supplier 

8 that does not comply with this section. 

9 ‘‘(d) PROHIBITION ON DOUBLE COUNTING.—A re10 newable energy credit issued under subsection (c)— 

11 ‘‘(1) may be counted toward meeting the re12 quirements of subsection (b) only once; and 

13 ‘‘(2) shall vest with the owner of the system or 

14 facility that generates the renewable energy that is 

15 covered by the renewable energy credit, unless the 

16 owner explicitly transfers the renewable energy cred17 it. 

18 ‘‘(e) SALE UNDER PURPA CONTRACT.—If the Ad19 ministrator, after consultation with the Secretary of En20 ergy, determines that a renewable energy generator is sell21 ing electricity to comply with this section to a retail elecVerDate Aug 31 2005 18:43 Jan 17, 2007 Jkt 059200 PO 00000 Frm 00051 Fmt 6652 Sfmt 6201 E:\BILLS\S309.IS S309

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1 tric supplier under a contract subject to section 210 of 

2 the Public Utilities Regulatory Policies Act of 1978 (16 

3 U.S.C. 824a–3), the retail electric supplier shall be treated 

4 as the generator of the electric energy for the purposes 

5 of this title for the duration of the contract. 

6 ‘‘(f) STATE PROGRAMS.—Nothing in this section pre7 cludes any State from requiring additional renewable en8 ergy generation under any State renewable energy pro9 gram. 

10 ‘‘(g) VOLUNTARY PARTICIPATION.—The Adminis11 trator may issue a renewable energy credit pursuant to 

12 subsection (c) to any entity that is not subject to this sec13 tion only if the entity applying for the renewable energy 

14 credit meets the terms and conditions of this section to 

15 the same extent as retail electric suppliers subject to this 

16 section. 

17 ‘‘SEC. 714. STANDARDS TO ACCOUNT FOR BIOLOGICAL SE18 QUESTRATION OF CARBON. 

19 ‘‘(a) IN GENERAL.—Not later than 2 years after the 

20 date of enactment of title, the Secretary of Agriculture, 

21 with the concurrence of the Administrator, shall establish 

22 standards for accrediting certified reductions in the emis23 sion of carbon dioxide through above-ground and below24 ground biological sequestration activities. 


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1 ‘‘(b) REQUIREMENTS.—The standards shall in2 clude— 

3 ‘‘(1) a national biological carbon storage base4 line or inventory; and 

5 ‘‘(2) measurement, monitoring, and verification 

6 guidelines based on— 

7 ‘‘(A) measurement of increases in carbon 

8 storage in excess of the carbon storage that 

9 would have occurred in the absence of a new 

10 management practice designed to achieve bio11 logical sequestration of carbon; 

12 ‘‘(B) comprehensive carbon accounting 

13 that— 

14 ‘‘(i) reflects sustained net increases in 

15 carbon reservoirs; and 

16 ‘‘(ii) takes into account any carbon 

17 emissions resulting from disturbance of 

18 carbon reservoirs in existence as of the 

19 date of commencement of any new man20 agement practice designed to achieve bio21 logical sequestration of carbon; 

22 ‘‘(C) adjustments to account for— 

23 ‘‘(i) emissions of carbon that may re24 sult at other locations as a result of the 

25 impact of the new biological sequestration 


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1 management practice on timber supplies; 

2 or 

3 ‘‘(ii) potential displacement of carbon 

4 emissions to other land owned by the enti5 ty that carries out the new biological se6 questration management practice; and 

7 ‘‘(D) adjustments to reflect the expected 

8 carbon storage over various time periods, taking 

9 into account the likely duration of the storage 

10 of carbon in a biological reservoir. 

11 ‘‘(c) UPDATING OF STANDARDS.—Not later than 3 

12 years after the date of establishment of the standards 

13 under subsection (a), and every 3 years thereafter, the 

14 Secretary of Agriculture shall update the standards to 

15 take into account the most recent scientific information. 

16 ‘‘SEC. 715. GLOBAL WARMING POLLUTION REPORTING. 

17 ‘‘(a) IN GENERAL.—Not later than 2 years after the 

18 date of enactment of this title, and annually thereafter, 

19 any entity considered to be a major stationary source (as 

20 defined in section 169A(g)) shall submit to the Adminis21 trator a report describing the emissions of global warming 

22 pollutants from the entity for the preceding calendar year. 

23 ‘‘(b) VOLUNTARY REPORTING.—An entity that is not 

24 described in subsection (a) may voluntarily report the 


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1 emissions of global warming pollutants from the entity to 

2 the Administrator. 

3 ‘‘(c) REQUIREMENTS FOR REPORTS.— 

4 ‘‘(1) EXPRESSION OF MEASUREMENTS.—Each 

5 global warming pollution report submitted under this 

6 section shall express global warming pollution emis7 sions in— 

8 ‘‘(A) metric tons of each global warming 

9 pollutant; and 

10 ‘‘(B) metric tons of the carbon dioxide 

11 equivalent of each global warming pollutant. 

12 ‘‘(2) ELECTRONIC FORMAT.—The information 

13 contained in a report submitted under this section 

14 shall be reported electronically to the Administrator 

15 in such form and to such extent as may be required 

16 by the Administrator. 

17 ‘‘(3) DE MINIMIS EXEMPTION.—The Adminis18 trator may specify the level of global warming pollu19 tion emissions from a source within a facility that 

20 shall be considered to be a de minimis exemption 

21 from the requirement to comply with this section. 

22 ‘‘(d) PUBLIC AVAILABILITY OF INFORMATION.—Not 

23 later than March 1 of the year after which the Adminis24 trator receives a report under this subsection from an enti25 ty, and annually thereafter, the Administrator shall make 


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1 the information reported under this section available to 

2 the public through the Internet. 

3 ‘‘(e) PROTOCOLS AND METHODS.—The Adminis4 trator shall, by regulation, establish protocols and methods 

5 to ensure completeness, consistency, transparency, and ac6 curacy of data on global warming pollution emissions sub7 mitted under this section. 

8 ‘‘(f) ENFORCEMENT.—Regulations promulgated 

9 under this section may be enforced pursuant to section 

10 113 with respect to any person that— 

11 ‘‘(1) fails to submit a report under this section; 

12 or 

13 ‘‘(2) otherwise fails to comply with those regu14 lations. 

15 ‘‘SEC. 716. CLEAN ENERGY TECHNOLOGY DEPLOYMENT IN 

16 DEVELOPING COUNTRIES. 

17 ‘‘(a) DEFINITIONS.—In this section: 

18 ‘‘(1) CLEAN ENERGY TECHNOLOGY.—The term 

19 ‘clean energy technology’ means an energy supply or 

20 end-use technology that, over the lifecycle of the 

21 technology and compared to a similar technology al22 ready in commercial use in any developing country— 

23 ‘‘(A) is reliable; and 

24 ‘‘(B) results in reduced emissions of global 

25 warming pollutants. 


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1 ‘‘(2) DEVELOPING COUNTRY.— 

2 ‘‘(A) IN GENERAL.—The term ‘developing 

3 country’ means any country not listed in Annex 

4 I of the United Nations Framework Convention 

5 on Climate Change, done at New York on May 

6 9, 1992. 

7 ‘‘(B) INCLUSION.—The term ‘developing 

8 country’ may include a country with an econ9 omy in transition, as determined by the Sec10 retary. 

11 ‘‘(3) TASK FORCE.—The term ‘Task Force’ 

12 means the Task Force on International Clean, Low13 Carbon Energy Cooperation established under sub14 section (b)(1). 

15 ‘‘(b) TASK FORCE.— 

16 ‘‘(1) ESTABLISHMENT.—Not later than 90 days 

17 after the date of enactment of this title, the Presi18 dent shall establish a task force to be known as the 

19 ‘Task Force on International Clean, Low Carbon 

20 Energy Cooperation’. 

21 ‘‘(2) COMPOSITION.—The Task Force shall be 

22 composed of— 

23 ‘‘(A) the Administrator and the Secretary 

24 of State, who shall serve jointly as Co-Chair25 persons; and 


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1 ‘‘(B) representatives, appointed by the 

2 head of the respective Federal agency, of— 

3 ‘‘(i) the Department of Commerce; 

4 ‘‘(ii) the Department of the Treasury; 

5 ‘‘(iii) the United States Agency for 

6 International Development; 

7 ‘‘(iv) the Export-Import Bank; 

8 ‘‘(v) the Overseas Private Investment 

9 Corporation; 

10 ‘‘(vi) the Office of United States 

11 Trade Representative; and 

12 ‘‘(vii) such other Federal agencies as 

13 are determined to be appropriate by the 

14 President. 

15 ‘‘(c) DUTIES.— 

16 ‘‘(1) INITIAL STRATEGY.— 

17 ‘‘(A) IN GENERAL.—Not later than 1 year 

18 after the date of enactment of this title, the 

19 Task Force shall develop and submit to the 

20 President an initial strategy— 

21 ‘‘(i) to support the development and 

22 implementation of programs and policies in 

23 developing countries to promote the adop24 tion of clean, low-carbon energy tech25 nologies and energy-efficiency technologies 


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1 and strategies, with an emphasis on those 

2 developing countries that are expected to 

3 experience the most significant growth in 

4 global warming pollution emissions over 

5 the 20-year period beginning on the date 

6 of enactment of this title; and 

7 ‘‘(ii)(I) open and expand clean, low8 carbon energy technology markets; and 

9 ‘‘(II) facilitate the export of that tech10 nology to developing countries. 

11 ‘‘(B) SUBMISSION TO CONGRESS.—On re12 ceipt of the initial strategy from the Task Force 

13 under subparagraph (A), the President shall 

14 submit the initial strategy to Congress. 

15 ‘‘(2) FINAL STRATEGY.—Not later than 2 years 

16 after the date of submission of the initial strategy 

17 under paragraph (1), and every 2 years thereafter— 

18 ‘‘(A) the Task Force shall— 

19 ‘‘(i) review and update the initial 

20 strategy; and 

21 ‘‘(ii) report the results of the review 

22 and update to the President; and 

23 ‘‘(B) the President shall submit to Con24 gress a final strategy. 


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1 ‘‘(3) PERFORMANCE CRITERIA.—The Task 

2 Force shall develop and submit to the Administrator 

3 performance criteria for use in the provision of as4 sistance under this section. 

5 ‘‘(d) PROVISION OF ASSISTANCE.—The Adminis6 trator may— 

7 ‘‘(1) provide assistance to developing countries 

8 for use in carrying out activities that are consistent 

9 with the priorities established in the final strategy; 

10 and 

11 ‘‘(2) establish a pilot program that provides fi12 nancial assistance for qualifying projects (as deter13 mined by the Administrator) in accordance with— 

14 ‘‘(A) the final strategy submitted under 

15 subsection (c)(2)(B); and 

16 ‘‘(B) any performance criteria developed by 

17 the Task Force under subsection (c)(3). 

18 ‘‘SEC. 717. PARAMOUNT INTEREST WAIVER. 

19 ‘‘(a) IN GENERAL.—If the President determines that 

20 a national security emergency exists and, in light of infor21 mation that was not available as of the date of enactment 

22 of this title, that it is in the paramount interest of the 

23 United States to modify any requirement under this title 

24 to minimize the effects of the emergency, the President 

25 may, after opportunity for public notice and comment, 


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1 temporarily adjust, suspend, or waive any regulations pro2 mulgated pursuant to this title to achieve that minimiza3 tion. 

4 ‘‘(b) CONSULTATION.—In making an emergency de5 termination under subsection (a), the President shall, to 

6 the maximum extent practicable, consult with and take 

7 into account any advice received from— 

8 ‘‘(1) the Academy; 

9 ‘‘(2) the Secretary of Energy; and 

10 ‘‘(3) the Administrator. 

11 ‘‘(c) JUDICIAL REVIEW.—An emergency determina12 tion under subsection (a) shall be subject to judicial review 

13 under section 307. 

14 ‘‘SEC. 718. EFFECT ON OTHER LAW. 

15 ‘‘Nothing in this title— 

16 ‘‘(1) affects the ability of a State to take State 

17 actions to further limit climate change (except that 

18 section 209 shall apply to standards for vehicles); 

19 and 

20 ‘‘(2) except as expressly provided in this title— 

21 ‘‘(A) modifies or otherwise affects any re22 quirement of this Act in effect on the day be23 fore the date of enactment of this title; or 

24 ‘‘(B) relieves any person of the responsi25 bility to comply with this Act.’’. 


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1 SEC. 3. RENEWABLE CONTENT OF GASOLINE. 

2 Section 211(o) of the Clean Air Act (as amended by 

3 section 1501 of the Energy Policy Act of 2005 (Public 

4 Law 109–58; 119 Stat. 1067)) is amended— 

5 (1) in paragraph (1)— 

6 (A) by redesignating subparagraph (B) as 

7 subparagraph (E); and 

8 (B) by inserting after subparagraph (A) 

9 the following: 

10 ‘‘(B) LOW-CARBON RENEWABLE FUEL.— 

11 The term ‘low-carbon renewable fuel’ means re12 newable fuel the use of which, on a full fuel 

13 cycle, per-mile basis, and as compared with the 

14 use of gasoline, achieves a reduction in global 

15 warming pollution emissions of 75 percent or 

16 more.’’; and 

17 (2) in paragraph (2)— 

18 (A) in subparagraph (A)(i), by inserting 

19 ‘‘and low-carbon renewable fuel’’ after ‘‘renew20 able fuel’’; and 

21 (B) in subparagraph (B)— 

22 (i) in clause (iv), by striking ‘‘(iv) 

23 MINIMUM APPLICABLE VOLUME.—For the 

24 purpose of subparagraph (A), the applica25 ble volume’’ and inserting the following: 


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1 ‘‘(iv) MINIMUM APPLICABLE VOLUME

2 OF RENEWABLE FUEL.—For the purpose 

3 of subparagraph (A), the minimum appli4 cable volume of renewable fuel’’; and 

5 (ii) by adding at the end the fol6 lowing: 

7 ‘‘(v) MINIMUM APPLICABLE VOLUME

8 OF LOW-CARBON RENEWABLE FUEL.—For 

9 the purpose of subparagraph (A), the min10 imum applicable volume of low-carbon re11 newable fuel for calendar year 2015 and 

12 each calendar year thereafter shall be 

13 5,000,000,000 gallons.’’. 

14 SEC. 4. ENFORCEMENT AND JUDICIAL REVIEW. 

15 (a) FEDERAL ENFORCEMENT.—Section 113 of the 

16 Clean Air Act (42 U.S.C. 7413) is amended— 

17 (1) in subsection (a)(3), by striking ‘‘or title 

18 VI,’’ and inserting ‘‘title VI, or title VII,’’; 

19 (2) in subsection (b)(2), by striking ‘‘or title 

20 VI,’’ and inserting ‘‘title VI, or title VII,’’; 

21 (3) in subsection (c)— 

22 (A) in the first sentence of paragraph (1), 

23 by striking ‘‘or title VI (relating to strato24 spheric ozone control),’’ and inserting ‘‘title VI 

25 (relating to stratospheric ozone control), or title 


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1 VII (relating to global warming pollution emis2 sion reductions),’’; and 

3 (B) in the first sentence of paragraph (3), 

4 by striking ‘‘or VI’’ and inserting ‘‘VI, or VII’’; 

5 (4) in subsection (d)(1)(B), by striking ‘‘or VI’’ 

6 and inserting ‘‘VI, or VII’’; and 

7 (5) in the first sentence of subsection (f), by 

8 striking ‘‘or VI’’ and inserting ‘‘VI, or VII’’. 

9 (b) ESTABLISHMENT OF STANDARDS.—Section 202 

10 of the Clean Air Act (42 U.S.C. 7521) is amended— 

11 (1) by redesignating the second subsection (f) 

12 (as added by section 207(b) of Public Law 101–549 

13 (104 Stat. 2482)) as subsection (n); and 

14 (2) by inserting after subsection (n) (as redesig15 nated by paragraph (1)) the following: 

16 ‘‘(o) GLOBAL WARMING POLLUTION EMISSION RE17 DUCTIONS.— 

18 ‘‘(1) IN GENERAL.—Not later than January 1, 

19 2010, the Administrator shall promulgate regula20 tions in accordance with subsection (a) and section 

21 707 to require manufacturers of motor vehicles to 

22 meet the vehicle emission standards established 

23 under subsections (a) and (b) of section 707. 

24 ‘‘(2) EFFECTIVE DATE.—The regulations pro25 mulgated under paragraph (1) shall take effect with 


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1 respect to motor vehicles sold by a manufacturer be2 ginning in model year 2016.’’. 

3 (c) ADMINISTRATIVE PROCEEDINGS AND JUDICIAL

4 REVIEW.—Section 307 of the Clean Air Act (42 U.S.C. 

5 7607) is amended— 

6 (1) in subsection (b)(1)— 

7 (A) in the first sentence— 

8 (i) by striking ‘‘section 111,,’’ and in9 serting ‘‘section 111,’’; and 

10 (ii) by inserting ‘‘any emission stand11 ard or requirement issued pursuant to title 

12 VII,’’ after ‘‘under section 120,’’; and 

13 (B) in the second sentence, by striking 

14 ‘‘section 112,,’’ and inserting ‘‘section 112,’’; 

15 and 

16 (2) in subsection (d)(1)— 

17 (A) in subparagraph (T), by striking ‘‘, 

18 and’’ at the end; 

19 (B) in subparagraph (U), by striking the 

20 period at the end and inserting ‘‘; and’’; and 

21 (C) by adding at the end the following: 

22 ‘‘(V) the promulgation or revision of any regu23 lation under title VII (relating to global warming 

24 pollution).’’. 


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1 SEC. 5. FEDERAL FLEET FUEL ECONOMY. 

2 Section 32917 of title 49, United States Code, is 

3 amended by adding at the end the following: 

4 ‘‘(3) NEW VEHICLES.— 

5 ‘‘(A) IN GENERAL.—Except as provided in 

6 subparagraph (B), each passenger vehicle pur7 chased, or leased for a period of at least 60 

8 consecutive days, by an Executive agency after 

9 the date of enactment of this paragraph shall 

10 be as fuel-efficient as practicable. 

11 ‘‘(B) WAIVER.—In an emergency situation, 

12 an Executive agency may submit to Congress a 

13 written request for a waiver of the requirement 

14 under paragraph (1).’’. 

15 SEC. 6. INTERNATIONAL NEGOTIATIONS AND TRADE RE16 STRICTIONS. 

17 It is the sense of the Senate that the United States 

18 should act to reduce the health, environmental, economic, 

19 and national security risks posed by global climate change, 

20 and foster sustained economic growth through a new gen21 eration of technologies, by— 

22 (1) participating in negotiations under the 

23 United Nations Framework Convention on Climate 

24 Change, done at New York May 9, 1992, and lead25 ing efforts in other international forums, with the 


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1 objective of securing participation of the United 

2 States in agreements that— 

3 (A) advance and protect the economic and 

4 national security interests of the United States; 

5 (B) establish mitigation commitments by 

6 all countries that are major emitters of global 

7 warming pollution, in accordance with the prin8 ciple of ‘‘common but differentiated responsibil9 ities’’; 

10 (C) establish flexible international mecha11 nisms to minimize the cost of efforts by partici12 pating countries; and 

13 (D) achieve a significant long-term reduc14 tion in global warming pollution emissions; and 

15 (2) establishing a bipartisan Senate observation 

16 group, the members of which should be designated 

17 by the Chairman and Ranking Member of the Com18 mittee on Foreign Relations of the Senate, and 

19 which should include the Chairman and Ranking 

20 Member of the Committee on Environment and Pub21 lic Works of the Senate— 

22 (A) to monitor any international negotia23 tions on climate change; and 

24 (B) to ensure that the advice and consent 

25 function of the Senate is exercised in a manner 


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1 to facilitate timely consideration of any applica2 ble treaty submitted to the Senate. 

3 SEC. 7. REPORT ON TRADE AND INNOVATION EFFECTS. 

4 Not later than 2 years after the date of enactment 

5 of this Act, and annually thereafter, the Secretary of Com6 merce, in consultation with the United States Trade Rep7 resentative, the Secretary of the Treasury, the Secretary 

8 of Agriculture, the Secretary of Energy, and the Adminis9 trator of the Environmental Protection Agency (referred 

10 to in this section as the ‘‘Secretary’’), shall prepare and 

11 submit to Congress a report on the trade, economic, and 

12 technology innovation effects of the failure of the United 

13 States to adopt measures that require or result in a reduc14 tion in total global warming pollution emissions in the 

15 United States, in accordance with the goals for the United 

16 States under the United Nations Framework Convention 

17 on Climate Change, done at New York on May 9, 1992. 

18 SEC. 8. CLIMATE CHANGE IN ENVIRONMENTAL IMPACT 

19 STATEMENTS. 

20 In any case in which a Federal agency prepares an 

21 environmental impact statement or similar analysis re22 quired under the National Environmental Policy Act of 

23 1969 (42 U.S.C. 4321 et seq.), the Federal agency shall 

24 consider and evaluate— 


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1 (1) the impact that the Federal action or 

2 project necessitating the statement or analysis would 

3 have in terms of net changes in global warming pol4 lution emissions; and 

5 (2) the ways in which climate changes may af6 fect the action or project in the short term and the 

7 long term. 

8 SEC. 9. CORPORATE ENVIRONMENTAL DISCLOSURE OF 

9 CLIMATE CHANGE RISKS. 

10 (a) REGULATIONS.—Not later than 2 years after the 

11 date of enactment of this Act, the Securities and Ex12 change Commission (referred to in this section as the 

13 ‘‘Commission’’) shall promulgate regulations in accord14 ance with section 13 of the Securities Exchange Act of 

15 1934 (15 U.S.C. 78m) directing each issuer of securities 

16 under that Act to inform securities investors of the risks 

17 relating to— 

18 (1) the financial exposure of the issuer because 

19 of the net global warming pollution emissions of the 

20 issuer; and 

21 (2) the potential economic impacts of global 

22 warming on the interests of the issuer. 

23 (b) UNIFORM FORMAT FOR DISCLOSURE.—In car24 rying out subsection (a), the Commission shall enter into 

25 an agreement with the Financial Accounting Standards 


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1 Board, or another appropriate organization that estab2 lishes voluntary standards, to develop a uniform format 

3 for disclosing to securities investors information on the 

4 risks described in subsection (a). 

5 (c) INTERIM INTERPRETIVE RELEASE.— 

6 (1) IN GENERAL.—As soon as practicable after 

7 the date of enactment of this Act, the Commission 

8 shall issue an interpretive release clarifying that 

9 under items 101 and 303 of Regulation S-K of the 

10 Commission under part 229 of title 17, Code of Fed11 eral Regulations (as in effect on the date of enact12 ment of this Act)— 

13 (A) the commitments of the United States 

14 to reduce emissions of global warming pollution 

15 under the United Nations Framework Conven16 tion on Climate Change, done at New York on 

17 May 9, 1992, are considered to be a material 

18 effect; and 

19 (B) global warming constitutes a known 

20 trend. 

21 (2) PERIOD OF EFFECTIVENESS.—The inter22 pretive release issued under paragraph (1) shall re23 main in effect until the effective date of the final 

24 regulations promulgated under subsection (a). 

Æ 


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