II 

110TH CONGRESS 

1ST SESSION S. 183 

To require the establishment of a corporate average fuel economy standard 

for passenger automobiles of 40 miles per gallon by 2017, and for 

other purposes. 

IN THE SENATE OF THE UNITED STATES 

JANUARY 4, 2007 

Mr. STEVENS introduced the following bill; which was read twice and referred 

to the Committee on Commerce, Science, and Transportation 

A BILL 

To require the establishment of a corporate average fuel 

economy standard for passenger automobiles of 40 miles 

per gallon by 2017, 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; TABLE OF CONTENTS. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Improved Passenger Automobile Fuel Economy Act of 

6 2007’’. 

7 (b) TABLE OF CONTENTS.—The table of contents for 

8 this Act is as follows: 

Sec. 1. Short title; table of contents. 


hmoore on PROD1PC68 with HMBILLS
2 

•S 183 IS 

TITLE I—40 MPG STANDARD BY 2017 

Sec. 101. Cafe standards for passenger automobiles. 

Sec. 102. Fuel economy standard credits. 

Sec. 103. Authorization of appropriations. 

Sec. 104. Effective date. 

TITLE II—MARKET-BASED INITIATIVES FOR GREENHOUSE GAS 

REDUCTION 

Sec. 201. Market-based initiatives.

Sec. 202. Implementing panel. 

Sec. 203. Definitions. 

1 TITLE I—40 MPG STANDARD BY 

2 2017 

3 SEC. 101. CAFE STANDARDS FOR PASSENGER AUTO4 MOBILES. 

5 (a) AVERAGE FUEL ECONOMY STANDARDS FOR

6 AUTOMOBILES.—Section 32902 of title 49, United States 

7 Code, is amended— 

8 (1) by striking subsections (b) and (c) and in9 serting the following: 

10 ‘‘(b) PASSENGER AUTOMOBILES.— 

11 ‘‘(1) IN GENERAL.—At least 18 months before 

12 the beginning of each model year, the Secretary of 

13 Transportation shall prescribe by regulation average 

14 fuel economy standards for passenger automobiles 

15 manufactured by a manufacturer in that model year. 

16 Each standard shall be the maximum feasible aver17 age fuel economy level that the Secretary decides the 

18 manufacturers can achieve in that model year. The 


hmoore on PROD1PC68 with HMBILLS
3 

•S 183 IS 

1 Secretary may prescribe separate standards for dif2 ferent classes of passenger automobiles. 

3 ‘‘(2) MINIMUM STANDARD.—Except as provided 

4 in paragraph (3), in prescribing a standard under 

5 paragraph (1), the Secretary shall ensure that no 

6 manufacturer’s standard for a particular model year 

7 is less than the greater of— 

8 ‘‘(A) the standard in effect on the date of 

9 enactment of the Improved Passenger Auto10 mobile Fuel Economy Act of 2007; or 

11 ‘‘(B) a standard established in accordance 

12 with the requirement of section 104(c)(2) of 

13 that Act. 

14 ‘‘(3) 40 MILES PER GALLON STANDARD FOR

15 MODEL YEAR 2017.—The Secretary shall prescribe 

16 an average fuel economy standard for passenger 

17 automobiles manufactured by a manufacturer in 

18 model year 2017 of 40 miles per gallon. If the Sec19 retary determines that more than 1 manufacturer is 

20 not reasonably expected to achieve that standard, 

21 the Secretary shall notify the Senate Committee on 

22 Commerce, Science, and Transportation and the 

23 House of Representatives Committee on Energy and 

24 Commerce of that determination. 

25 ‘‘(c) FLEXIBILITY OF AUTHORITY.— 


hmoore on PROD1PC68 with HMBILLS
4 

•S 183 IS 

1 ‘‘(1) IN GENERAL.—The authority of the Sec2 retary to prescribe by regulation average fuel econ3 omy standards for automobiles under this section in4 cludes the authority to prescribe standards based on 

5 one or more vehicle attributes that relate to fuel 

6 economy, and to express the standards in the form 

7 of a mathematical function. The Secretary may issue 

8 a regulation prescribing standards for one or more 

9 model years. 

10 ‘‘(2) REQUIRED LEAD-TIME.—When the Sec11 retary prescribes an amendment to a standard under 

12 this section that makes an average fuel economy 

13 standard more stringent, the Secretary shall pre14 scribe the amendment at least 18 months before the 

15 beginning of the model year to which the amend16 ment applies. 

17 ‘‘(3) NO ACROSS-THE-BOARD INCREASES.— 

18 When the Secretary prescribes a standard, or pre19 scribes an amendment under this section that 

20 changes a standard, the standard may not be ex21 pressed as a uniform percentage increase from the 

22 fuel-economy performance of automobile classes or 

23 categories already achieved in a model year by a 

24 manufacturer.’’; 


hmoore on PROD1PC68 with HMBILLS
5 

•S 183 IS 

1 (2) by inserting ‘‘motor vehicle safety, emis2 sions,’’ in subsection (f) after ‘‘economy,’’; 

3 (3) by striking ‘‘energy.’’ in subsection (f) and 

4 inserting ‘‘energy and reduce its dependence on oil 

5 for transportation.’’; 

6 (4) by striking subsection (j) and inserting the 

7 following: 

8 ‘‘(j) NOTICE OF FINAL RULE.—Before taking final 

9 action on a standard or an exemption from a standard 

10 under this section, the Secretary of Transportation shall 

11 notify the Secretary of Energy and the Administrator of 

12 the Environmental Protection Agency and provide them 

13 a reasonable time to comment on the standard or exemp14 tion.’’; and 

15 (5) by adding at the end thereof the following: 

16 ‘‘(k) COSTS-BENEFITS.—The Secretary of Transpor17 tation may not prescribe an average fuel economy stand18 ard under this section that imposes marginal costs that 

19 exceed marginal benefits, as determined at the time any 

20 change in the standard is promulgated.’’. 

21 (b) EXEMPTION CRITERIA.—The first sentence of 

22 section 32904(b)(6)(B) of title 49, United States Code, 

23 is amended— 


hmoore on PROD1PC68 with HMBILLS
6 

•S 183 IS 

1 (1) by striking ‘‘exemption would result in re2 duced’’ and inserting ‘‘manufacturer requesting the 

3 exemption will transfer’’; 

4 (2) by striking ‘‘in the United States’’ and in5 serting ‘‘from the United States’’; and 

6 (3) by inserting ‘‘because of the grant of the ex7 emption’’ after ‘‘manufacturing’’. 

8 (c) CONFORMING AMENDMENTS.— 

9 (1) Section 32902 of title 49, United States 

10 Code, is amended— 

11 (A) by striking ‘‘or (c)’’ in subsection 

12 (d)(1); 

13 (B) by striking ‘‘(c),’’ in subsection (e)(2); 

14 (C) by striking ‘‘subsection (a) or (d)’’ 

15 each place it appears in subsection (g)(1) and 

16 inserting ‘‘subsection (a), (b), or (d)’’; 

17 (D) by striking ‘‘(1) The’’ in subsection 

18 (g)(1) and inserting ‘‘The’’; 

19 (E) by striking subsection (g)(2); and 

20 (F) by striking ‘‘(c),’’ in subsection (h) 

21 and inserting ‘‘(b),’’. 

22 (2) Section 32903 of such title is amended by 

23 striking ‘‘section 32902(b)–(d)’’ each place it ap24 pears and inserting ‘‘subsection (b) or (d) of section 

25 32902’’. 


hmoore on PROD1PC68 with HMBILLS
7 

•S 183 IS 

1 (3) Section 32904(a)(1)(B) of such title is 

2 amended by striking ‘‘section 32902(b)–(d)’’ and in3 serting ‘‘subsection (b) or (d) of section 32902’’. 

4 (4) The first sentence of section 32909(b) of 

5 such title is amended to read ‘‘The petition must be 

6 filed not later than 59 days after the regulation is 

7 prescribed.’’. 

8 (5) Section 32917(b)(1)(B) of such title is 

9 amended by striking ‘‘or (c)’’. 

10 SEC. 102. FUEL ECONOMY STANDARD CREDITS. 

11 (a) IN GENERAL.—Section 32903 of title 49, United 

12 States Code, is amended by striking the second sentence 

13 of subsection (a) and inserting ‘‘The credits— 

14 ‘‘(1) may be applied to any of the 3 model years 

15 immediately following the model year for which the 

16 credits are earned; or 

17 ‘‘(2) transferred to the registry established 

18 under section 201 of the Improved Passenger Auto19 mobile Fuel Economy Act of 2007.’’. 

20 (b) GREENHOUSE GAS CREDITS APPLIED TO CAFE 

21 STANDARDS.—Section 32903 of title 49, United States 

22 Code, is amended by adding at the end the following: 

23 ‘‘(g) GREENHOUSE GAS CREDITS.— 

24 ‘‘(1) IN GENERAL.—A manufacturer may apply 

25 credits purchased through the registry established by 


hmoore on PROD1PC68 with HMBILLS
8 

•S 183 IS 

1 section 201 of the Improved Passenger Automobile 

2 Fuel Economy Act of 2007 toward any model year 

3 after model year 2010 under subsection (d), sub4 section (e), or both. 

5 ‘‘(2) LIMITATION.—A manufacturer may not 

6 use credits purchased through the registry to offset 

7 more than 10 percent of the fuel economy standard 

8 applicable to any model year.’’. 

9 SEC. 103. AUTHORIZATION OF APPROPRIATIONS. 

10 There are authorized to be appropriated to the Sec11 retary of Transportation such sums as may be necessary 

12 to carry out this title and chapter 329 of title 49, United 

13 States Code, as amended by this title. 

14 SEC. 104. EFFECTIVE DATE. 

15 (a) IN GENERAL.—Except as provided in subsection 

16 (b), this title, and the amendments made by this title, take 

17 effect on the date of enactment of this Act. 

18 (b) TRANSITION FOR PASSENGER AUTOMOBILE

19 STANDARD.—Notwithstanding subsection (a), and except 

20 as provided in subsection (c)(2), until the effective date 

21 of a standard for passenger automobiles that is issued 

22 under the authority of section 32902(b) of title 49, United 

23 States Code, as amended by this Act, the standard or 

24 standards in place for passenger automobiles under the 

25 authority of section 32902 of that title, as that section 


hmoore on PROD1PC68 with HMBILLS
9 

•S 183 IS 

1 was in effect on the day before the date of enactment of 

2 this Act, shall remain in effect. 

3 (c) RULEMAKING.— 

4 (1) INITIATION OF RULEMAKING UNDER

5 AMENDED LAW.—Within 60 days after the date of 

6 enactment of this Act, the Secretary of Transpor7 tation shall initiate a rulemaking for passenger auto8 mobiles under section 32902(b) of title 49, United 

9 States Code, as amended by this Act. 

10 (2) AMENDMENT OF EXISTING STANDARD.— 

11 Until the Secretary issues a final rule pursuant to 

12 the rulemaking initiated in accordance with para13 graph (1), the Secretary shall amend the average 

14 fuel economy standard prescribed pursuant to sec15 tion 32092(b) of title 49, United States Code, with 

16 respect to passenger automobiles in model years to 

17 which the standard adopted by such final rule does 

18 not apply. 

19 TITLE II—MARKET-BASED INI20 TIATIVES FOR GREENHOUSE 

21 GAS REDUCTION 

22 SEC. 201. MARKET-BASED INITIATIVES. 

23 (a) ESTABLISHMENT OF REGISTRY FOR VOLUNTARY

24 TRADING SYSTEMS.—The Secretary of Commerce shall 

25 establish a national registry system for greenhouse gas 


hmoore on PROD1PC68 with HMBILLS
10 

•S 183 IS 

1 trading among industry under which emission reductions 

2 from the applicable baseline are assigned unique identi3 fying numerical codes by the registry. Participation in the 

4 registry is voluntary. Any entity conducting business in 

5 the United States may register its emission results, includ6 ing emissions generated outside of the United States, on 

7 an entity-wide basis with the registry, and may utilize the 

8 services of the registry. 

9 (b) PURPOSES.—The purposes of the national reg10 istry are— 

11 (1) to encourage voluntary actions to reduce 

12 greenhouse gas emissions and increase energy effi13 ciency, including increasing the fuel economy of pas14 senger automobiles and light trucks and reducing 

15 the reliance by United States markets on petroleum 

16 produced outside the United States used to provide 

17 vehicular fuel; 

18 (2) to enable participating entities to record vol19 untary greenhouse gas emissions reductions; in a 

20 consistent format that is supported by third party 

21 verification; 

22 (3) to encourage participants involved in exist23 ing partnerships to be able to trade emissions reduc24 tions among partnerships; 


hmoore on PROD1PC68 with HMBILLS
11 

•S 183 IS 

1 (4) to further recognize, publicize, and promote 

2 registrants making voluntary and mandatory reduc3 tions; 

4 (5) to recruit more participants in the program; 

5 and 

6 (6) to help various entities in the nation estab7 lish emissions baselines. 

8 (c) FUNCTIONS.—The national registry shall carry 

9 out the following functions: 

10 (1) REFERRALS.—Provide referrals to approved 

11 providers for advice on— 

12 (A) designing programs to establish emis13 sions baselines and to monitor and track green14 house gas emissions; and 

15 (B) establishing emissions reduction goals 

16 based on international best practices for specific 

17 industries and economic sectors. 

18 (2) UNIFORM REPORTING FORMAT.—Adopt a 

19 uniform format for reporting emissions baselines 

20 and reductions established through— 

21 (A) the Director of the National Institute 

22 of Standards and Technology for greenhouse 

23 gas baselines and reductions generally; and 


hmoore on PROD1PC68 with HMBILLS
12 

•S 183 IS 

1 (B) the Secretary of Transportation for 

2 credits under section 32903 of title 49, United 

3 States Code. 

4 (3) RECORD MAINTENANCE.—Maintain a 

5 record of all emission baselines and reductions 

6 verified by qualified independent auditors. 

7 (4) ENCOURAGE PARTICIPATION.—Encourage 

8 organizations from various sectors to monitor emis9 sions, establish baselines and reduction targets, and 

10 implement efficiency improvement and renewable en11 ergy programs to achieve those targets. 

12 (5) PUBLIC AWARENESS.—Recognize, publicize, 

13 and promote participants that— 

14 (A) commit to monitor their emissions and 

15 set reduction targets; 

16 (B) establish emission baselines; and 

17 (C) report on the amount of progress made 

18 on their annual emissions. 

19 (d) TRANSFER OF REDUCTIONS.—The registry 

20 shall— 

21 (1) allow for the transfer of ownership of any 

22 reductions realized in accordance with the program; 

23 and 


hmoore on PROD1PC68 with HMBILLS
13 

•S 183 IS 

1 (2) require that the registry be notified of any 

2 such transfer within 30 days after the transfer is ef3 fected. 

4 (e) FUTURE CONSIDERATIONS.—Any reductions 

5 achieved under this program shall be credited against any 

6 future mandatory greenhouse gas reductions required by 

7 the government. Final approval of the amount and value 

8 of credits shall be determined by the agency responsible 

9 for the implementation of the mandatory greenhouse gas 

10 emission reduction program, except that credits under sec11 tion 32903 of title 49, United States Code, shall be deter12 mined by the Secretary of Transportation. The Secretary 

13 of Commerce shall by rule establish an appeals process, 

14 that may incorporate an arbitration option, for resolving 

15 any dispute arising out of such a determination made by 

16 that agency. 

17 (f) CAFE STANDARDS CREDITS.—The Secretary of 

18 Transportation shall work with the Secretary of Com19 merce and the implementing panel established by section 

20 202 to determine the equivalency of credits earned under 

21 section 32903 of title 49, United States Code, for inclu22 sion in the registry. The Secretary shall by rule establish 

23 an appeals process, that may incorporate an arbitration 

24 option, for resolving any dispute arising out of such a de25 termination. 


hmoore on PROD1PC68 with HMBILLS
14 

•S 183 IS 

1 SEC. 202. IMPLEMENTING PANEL. 

2 (a) ESTABLISHMENT.—There is established within 

3 the Department of Commerce an implementing panel. 

4 (b) COMPOSITION.—The panel shall consist of— 

5 (1) the Secretary of Commerce or the Sec6 retary’s designee, who shall serve as Chairperson; 

7 (2) the Secretary of Transportation or the Sec8 retary’s designee; and 

9 (3) 1 expert in the field of greenhouse gas emis10 sions reduction, certification, or trading from each of 

11 the following agencies— 

12 (A) the Department of Energy; 

13 (B) the Environmental Protection Agency; 

14 (C) the Department of Agriculture; 

15 (D) the National Aeronautics and Space 

16 Administration; 

17 (E) the Department of Commerce; and 

18 (F) the Department of Transportation. 

19 (c) EXPERTS AND CONSULTANTS.—Any member of 

20 the panel may secure the services of experts and consult21 ants in accordance with the provisions of section 3109 of 

22 title 5, United States Code, for greenhouse gas reduction, 

23 certification, and trading experts in the private and non24 profit sectors and may also utilize any grant, contract, co25 operative agreement, or other arrangement authorized by 

26 law to carry out its activities under this subsection. 


hmoore on PROD1PC68 with HMBILLS
15 

•S 183 IS 

1 (d) DUTIES.—The panel shall— 

2 (1) implement and oversee the implementation 

3 of this section; 

4 (2) promulgate— 

5 (A) standards for certification of registries 

6 and operation of certified registries; and 

7 (B) standards for measurement, 

8 verification, and recording of greenhouse gas 

9 emissions and greenhouse gas emission reduc10 tions by certified registries; 

11 (3) maintain, and make available to the public, 

12 a list of certified registries; and 

13 (4) issue rulemakings on standards for meas14 uring, verifying, and recording greenhouse gas emis15 sions and greenhouse gas emission reductions pro16 posed to the panel by certified registries, through a 

17 standard process of issuing a proposed rule, taking 

18 public comment for no less than 30 days, then final19 izing regulations to implement this act, which will 

20 provide for recognizing new forms of acceptable 

21 greenhouse gas reduction certification procedures. 

22 (e) CERTIFICATION AND OPERATION STANDARDS.— 

23 The standards promulgated by the panel shall include— 


hmoore on PROD1PC68 with HMBILLS
16 

•S 183 IS 

1 (1) standards for ensuring that certified reg2 istries do not have any conflicts of interest, including 

3 standards that prohibit a certified registry from— 

4 (A) owning greenhouse gas emission reduc5 tions recorded in any certified registry; or 

6 (B) receiving compensation in the form of 

7 a commission where sources receive money for 

8 the total number of tons certified; 

9 (2) standards for authorizing certified registries 

10 to enter into agreements with for-profit persons en11 gaged in trading of greenhouse gas emission reduc12 tions, subject to paragraph (1); and 

13 (3) such other standards for certification of 

14 registries and operation of certified registries as the 

15 panel determines to be appropriate. 

16 (f) MEASUREMENT, VERIFICATION, AND RECORDING

17 STANDARDS.—The standards promulgated by the panel 

18 shall provide for, in the case of certified registries— 

19 (1) ensuring that certified registries accurately 

20 measure, verify, and record greenhouse gas emis21 sions and greenhouse gas emission reductions, tak22 ing into account— 

23 (A) boundary issues such as leakage and 

24 shifted utilization; and 


hmoore on PROD1PC68 with HMBILLS
17 

•S 183 IS 

1 (B) such other factors as the panel deter2 mines to be appropriate; 

3 (2) ensuring that— 

4 (A) certified registries do not double-count 

5 greenhouse gas emission reductions; and 

6 (B) if greenhouse gas emission reductions 

7 are recorded in more than 1 certified registry, 

8 such double-recording is clearly indicated; 

9 (3) determining the ownership of greenhouse 

10 gas emission reductions and recording and tracking 

11 the transfer of greenhouse gas emission reductions 

12 among entities (such as through assignment of serial 

13 numbers to greenhouse gas emission reductions); 

14 (4) measuring the results of the use of carbon 

15 sequestration and carbon recapture technologies; 

16 (5) measuring greenhouse gas emission reduc17 tions resulting from improvements in— 

18 (A) power plants; 

19 (B) automobiles (including types of pas20 senger automobiles and light trucks, as defined 

21 in section 32901(a)(16) and (17) respectively, 

22 produced in the same model year); 

23 (C) carbon re-capture, storage and seques24 tration, including organic sequestration and 


hmoore on PROD1PC68 with HMBILLS
18 

•S 183 IS 

1 manufactured emissions injection, and or stor2 age; and 

3 (D) other sources; 

4 (6) measuring prevented greenhouse gas emis5 sions through the rulemaking process and based on 

6 the latest scientific data, sampling, expert analysis 

7 related to measurement and projections for pre8 vented greenhouse gas emissions in tons including— 

9 (A) organic soil carbon sequestration prac10 tices; 

11 (B) forest preservation and re-forestation 

12 activities which adequately address the issues of 

13 permanence, leakage and verification; and 

14 (7) such other measurement, verification, and 

15 recording standards as the panel determines to be 

16 appropriate. 

17 (g) CERTIFICATION OF REGISTRIES.—Except as pro18 vided in subsection (h), a registrant that desires to be a 

19 certified registry shall submit to the panel an application 

20 that— 

21 (1) demonstrates that the registrant meets each 

22 of the certification standards established by the 

23 panel under subsections (d) and (e); and 

24 (2) meets such other requirements as the panel 

25 may establish. 


hmoore on PROD1PC68 with HMBILLS
19 

•S 183 IS 

1 (h) AUTOMOBILE INDUSTRY.—The Secretary of 

2 Transportation is deemed to be the certified registrant for 

3 credits earned under section 32903 of title 49, United 

4 States Code. 

5 (i) ANNUAL REPORT.—Within 1 year after the date 

6 after the date of enactment of this Act and biennially 

7 thereafter, the panel shall report to the Congress on the 

8 status of the program established under this section. The 

9 report shall include an assessment of the level of participa10 tion in the program and amount of progress being made 

11 on emission reduction targets. 

12 SEC. 203. DEFINITIONS. 

13 In this title: 

14 (1) GREENHOUSE GAS.—The term ‘‘greenhouse 

15 gas’’ includes— 

16 (A) carbon dioxide; 

17 (B) methane; 

18 (C) hydro fluorocarbons; 

19 (D) perfluorocarbons; 

20 (E) nitrous oxide; and 

21 (F) sulfur hexafluoride. 

22 (2) BASELINE.—The term ‘‘baseline’’ means— 

23 (A) the greenhouse gas emissions, deter24 mined on an entity-wide basis for the partici25 pant’s most recent previous 3-year annual averVerDate Aug 31 2005 06:08 Jan 11, 2007 Jkt 059200 PO 00000 Frm 00019 Fmt 6652 Sfmt 6201 E:\BILLS\S183.IS S183

hmoore on PROD1PC68 with HMBILLS
20 

•S 183 IS 

1 age of greenhouse gas emissions prior to the 

2 date of enactment of this Act; or 

3 (B) if data is unavailable for that 3-year 

4 period, the greenhouse gas emissions as of Sep5 tember 30, 2004, (or as close to that date as 

6 such emission levels can reasonably be deter7 mined). In promulgating regulations under this 

8 title, the panel shall take into account green9 house gas emission reductions or off-setting ac10 tions taken by any entity before the date on 

11 which the registry is established. 

12 (3) CERTIFIED REGISTRY.—The term ‘‘certified 

13 registry’’ means a registry that has been certified by 

14 the panel as meeting the standards promulgated 

15 under section 202(e) and (f) and, for the automobile 

16 industry, the Secretary of Transportation. 

17 (4) GREENHOUSE GAS EMISSIONS.—The term 

18 ‘‘greenhouse gas emissions’’ means the quantity of 

19 greenhouse gases emitted by a source during a pe20 riod, measured in tons of greenhouse gases. 

21 (5) GREENHOUSE GAS EMISSION REDUCTION.— 

22 The term ‘‘greenhouse gas emission reduction’’ 

23 means a quantity equal to the difference between— 

24 (A) the greenhouse gas emissions of a 

25 source during a period; and 


hmoore on PROD1PC68 with HMBILLS
21 

•S 183 IS 

1 (B) the greenhouse gas emissions of the 

2 source during a baseline period of the same du3 ration as determined by registries and entities 

4 defined as owners of emission sources. 

5 (6) KYOTO PROTOCOL.—The term ‘‘Kyoto pro6 tocol’’ means the Kyoto Protocol to the United Na7 tions Framework Convention on Climate Change (in8 cluding the Montreal Protocol to the Convention on 

9 Substances that Deplete the Ozone Layer). 

10 (7) PANEL.—The term ‘‘panel’’ means the im11 plementing panel established by section 202(a). 

12 (8) REGISTRANT.—The term ‘‘registrant’’ 

13 means a private person that operates a database re14 cording quantified and verified greenhouse gas emis15 sions and emissions reductions of sources owned by 

16 other entities. 

17 (9) SOURCE.—The term ‘‘source’’ means a 

18 source of greenhouse gas emissions. 

Æ 


hmoore on PROD1PC68 with HMBILLS