221 
(c) FEDERAL SUPPORT FOR CLEAN ENERGY TECH-
NOLOGY TRANSFER.—Notwithstanding any other provi-
sion of law, each Federal agency or Government corpora-
tion carrying out an assistance program in support of the 
activities of United States persons and industry partner-
ships in the environment or energy sector of a developing 
country, country in transition, or other partner country 
shall support, to the maximum extent practicable, the 
transfer of United States clean energy technology as part 
of that program. Such assistance programs shall support 
activities including, but not limited to, financial, environ-
mental and safety consulting, manufacturing, design and 
engineering, financing, and other services rendered by 
United States persons and industry partnerships. 
(d) ANNUAL REPORT.—Not later than 90 days after 
the date of the enactment of this Act, and on March 31 
of each year thereafter, the Interagency Working Group 
shall submit a report to Congress on its activities during 
the preceding calendar year. The report shall include a 
description of the technology, policy, and market opportu-
nities for international development, demonstration, and 
deployment of United States clean energy technology in-
vestigated by the Interagency Working Group in that year, 
as well as any policy recommendations to improve the ex-
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pansion of clean energy markets and United States clean 
energy technology exports. 
(e) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated to the appropriate de-
partments, agencies, and entities of the United States 
such sums as may be necessary for each of the fiscal years 
2008 through 2018 to support the transfer of United 
States clean energy technology, consistent with the sub-
sidy codes of the World Trade Organization, as part of 
assistance programs carried out by those departments, 
agencies, and entities in support of activities of United 
States persons in the energy sector of a developing coun-
try, country in transition, or other partner country. 
SEC. 612. INTERNATIONAL ENERGY TECHNOLOGY DEPLOY-
MENT PROGRAM. 
Section 1608 of the Energy Policy Act of 1992 (42 
U.S.C. 13387) is amended by striking subsection (l) and 
inserting the following: 
‘‘(l) INTERNATIONAL ENERGY TECHNOLOGY DE-
PLOYMENT PROGRAM.— 
‘‘(1) DEFINITIONS.—In this subsection: 
‘‘(A) INTERNATIONAL
ENERGY
DEPLOY-
MENT PROJECT.—The term ‘international en-
ergy deployment project’ means a project to 
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construct an energy production facility outside 
the United States— 
‘‘(i) the output of which will be con-
sumed outside the United States; and 
‘‘(ii) the deployment of which will re-
sult in a greenhouse gas reduction per unit 
of energy produced when compared to the 
technology that would otherwise be imple-
mented— 
‘‘(I) 20 percentage points or 
more, in the case of a unit placed in 
service before January 1, 2010; 
‘‘(II) 40 percentage points or 
more, in the case of a unit placed in 
service after December 31, 2009, and 
before January 1, 2020; or 
‘‘(III) 60 percentage points or 
more, in the case of a unit placed in 
service after December 31, 2019, and 
before January 1, 2030. 
‘‘(B) QUALIFYING
INTERNATIONAL
EN-
ERGY
DEPLOYMENT
PROJECT.—The 
term 
‘qualifying international energy deployment 
project’ means an international energy deploy-
ment project that— 
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224 
‘‘(i) is submitted by a United States 
firm to the Secretary and establishes in-
dustry partnerships in accordance with 
procedures established by the Secretary by 
regulation; 
‘‘(ii) uses technology or services that 
have been successfully developed or de-
ployed in the United States; 
‘‘(iii) uses technology or services that 
consists of manufactured articles, mate-
rials, and supplies produced in the United 
States substantially from articles, mate-
rials, or supplies mined, produced, or man-
ufactured in the United States, within the 
meaning of the Buy American Act (41 
U.S.C. 10a); 
‘‘(iv) meets the criteria of subsection 
(k); 
‘‘(v) is approved by the Secretary, 
with notice of the approval being published 
in the Federal Register; and 
‘‘(vi) complies with such terms and 
conditions as the Secretary establishes by 
regulation. 
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‘‘(C) UNITED
STATES.—For purposes of 
this paragraph, the term ‘United States’, when 
used in a geographical sense, means the 50 
States, the District of Columbia, Puerto Rico, 
Guam, the Virgin Islands, American Samoa, 
and the Commonwealth of the Northern Mar-
iana Islands. 
‘‘(2) PILOT PROGRAM FOR FINANCIAL ASSIST-
ANCE.— 
‘‘(A) IN
GENERAL.—Not later than 180 
days after the date of enactment of this sub-
section, the Secretary shall, by regulation, pro-
vide for a pilot program for financial assistance 
for qualifying international energy deployment 
projects. 
‘‘(B) SELECTION
CRITERIA.—After con-
sultation with the Secretary of State, the Sec-
retary of Commerce, and the United States 
Trade Representative, the Secretary shall select 
projects for participation in the program based 
solely on the criteria under this title and with-
out regard to the country in which the project 
is located. 
‘‘(C) FINANCIAL ASSISTANCE.— 
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226 
‘‘(i) IN GENERAL.—A United States 
firm that undertakes a qualifying inter-
national energy deployment project that is 
selected to participate in the pilot program 
shall be eligible to receive funding support, 
a loan, or a loan guarantee from the Sec-
retary. 
‘‘(ii) RATE OF INTEREST.—The rate 
of interest of any loan made under clause 
(i) shall be equal to the rate for Treasury 
obligations then issued for periods of com-
parable maturities. 
‘‘(iii) AMOUNT.—The amount of a 
loan or loan guarantee under clause (i) 
shall not exceed 50 percent of the total 
cost of the qualified international energy 
deployment project. 
‘‘(iv) 
DEVELOPED
COUNTRIES.— 
Loans or loan guarantees made for 
projects to be located in a developed coun-
try, as listed in Annex I of the United Na-
tions Framework Convention on Climate 
Change, shall require at least a 50 percent 
contribution towards the total cost of the 
loan or loan guarantee by the host country. 
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227 
‘‘(v) 
DEVELOPING
COUNTRIES.— 
Loans or loan guarantees made for 
projects to be located in a developing coun-
try (those countries not listed in Annex I 
of the United Nations Framework Conven-
tion on Climate Change) shall require at 
least a 10 percent contribution towards the 
total cost of the loan or loan guarantee by 
the host country. 
‘‘(vi) 
CAPACITY
BUILDING
RE-
SEARCH.—Proposals made for projects to 
be located in a developing country may in-
clude a research component intended to 
build technological capacity within the host 
country. Such research must be related to 
the technologies being deployed and must 
involve both an institution in the host 
country and an industry, university or na-
tional laboratory participant from the 
United States. The host institution shall 
contribute at least 50 percent of funds pro-
vided for the capacity building research. 
‘‘(vii) GRANTS.— 
‘‘(I) IN
GENERAL.—The Sec-
retary, in consultation with the Sec-
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retary of Energy and the Adminis-
trator of the United States Agency for 
International Development, may, at 
the request of the United States am-
bassador to a host country, make 
grants to help address and overcome 
specific, urgent, and unforeseen obsta-
cles in the implementation of a quali-
fying project. 
‘‘(II) MAXIMUM
AMOUNT.—The 
total amount of a grant made for a 
qualifying project under this para-
graph may not exceed $1,000,000. 
‘‘(D) COORDINATION
WITH
OTHER
PRO-
GRAMS.—A qualifying international energy de-
ployment project funded under this section shall 
not be eligible as a qualifying clean coal tech-
nology under section 415 of the Clean Air Act 
(42 U.S.C. 7651n). 
‘‘(E) REPORT.—Not later than 5 years 
after the date of enactment of this subsection, 
the Secretary shall submit to the President a 
report on the results of the pilot projects. 
‘‘(F) RECOMMENDATION.—Not later than 
60 days after receiving the report under sub-
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229 
paragraph (E), the President shall submit to 
Congress a recommendation, based on the re-
sults of the pilot projects as reported by the 
Secretary of Energy, concerning whether the fi-
nancial assistance program under this section 
should be continued, expanded, reduced, or 
eliminated. 
‘‘(3) PERFORMANCE CRITERIA FOR MAJOR EN-
ERGY CONSUMERS.— 
‘‘(A) IDENTIFICATION OF MAJOR ENERGY 
CONSUMERS.—Not later than 1 year after the 
date of enactment of this subsection, the Task 
Force shall identify those developing countries 
that, by virtue of present and projected energy 
consumption, represent the predominant share 
of energy use among developing countries. 
‘‘(B) PERFORMANCE CRITERIA.—As a con-
dition of accepting assistance provided under 
this section, any developing country identified 
under subparagraph (A) shall— 
‘‘(i) meet the eligibility criteria estab-
lished under section 607 of the Millennium 
Challenge Act of 2003 (22 U.S.C. 7706), 
notwithstanding the eligibility of the devel-
oping country as a candidate country 
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230 
under section 606 of that Act (22 U.S.C. 
7705); and 
‘‘(ii) agree to establish and report on 
progress in meeting specific goals for re-
duced energy-related greenhouse gas emis-
sions and specific goals for— 
‘‘(I) increased access to clean en-
ergy services among unserved and un-
derserved populations; 
‘‘(II) increased use of renewable 
energy resources; 
‘‘(III) increased use of lower 
greenhouse gas-emitting fossil fuel- 
burning technologies; 
‘‘(IV) greater reliance on ad-
vanced energy technologies; 
‘‘(V) the sustainable use of tradi-
tional energy resources; or 
‘‘(VI) other goals for improving 
energy-related environmental perform-
ance, including the reduction or avoid-
ance of local air and water quality 
and solid waste contaminants. 
‘‘(4) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the Sec-
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231 
retary to carry out this section $500,000,000 for 
each of fiscal years 2008 through 2018, to remain 
available until expended.’’. 
Subtitle C—Export-Import Bank 
SEC. 621. REQUIRE THE EXPORT-IMPORT BANK OF THE 
UNITED STATES TO MEET RENEWABLE EN-
ERGY TARGETS IN ITS LENDING PRACTICES. 
(a) ALLOCATION OF ASSISTANCE AMONG ENERGY 
PROJECTS.—Of the total amount available to the Export- 
Import Bank of the United States for the extension of 
credit for transactions related to energy projects, the 
Bank shall, not later than the beginning of fiscal year 
2008, use— 
(1) not more than 85 percent for transactions 
related to fossil fuel projects; and 
(2) not less than 15 percent for transactions re-
lated to renewable energy and energy efficiency 
projects. 
(b) RENEWABLE ENERGY AND TECHNOLOGY COM-
MISSION.— 
(1) ESTABLISHMENT.—Within 1 year after the 
date of the enactment of this Act, the Export-Import 
Bank of the United States (in this subsection re-
ferred to as the ‘‘Bank’’) shall establish a commis-
sion which shall be known as the ‘‘Renewable En-
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232 
ergy and Technology Commission’’ (in this sub-
section referred to as the ‘‘Commission’’). 
(2) FUNCTION.—The Commission shall help the 
Bank achieve the percentage goal set forth in sub-
section (a)(2) by the beginning of fiscal year 2008, 
by proactively assisting the Bank in identifying new 
opportunities for renewable energy and energy effi-
ciency financing. 
(3) COMPOSITION.—The Commission shall be 
composed of— 
(A) 6 representatives selected by compa-
nies involved in renewable energy and energy ef-
ficiency technology; 
(B) 2 representatives selected by environ-
mental organizations; 
(C) 2 members of the academic community 
who are knowledgeable about renewable energy; 
and 
(D) representatives of the Bank. 
(4) REPORTS.—The Commission shall submit 
annually to the Committee on Natural Resources 
and the Committee on Financial Services of the 
House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Senate 
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233 
a report that contains the following information for 
the fiscal year covered by the report: 
(A) A detailed description of the activities 
of the Commission. 
(B) Any recommendations made by the 
Commission that were adopted by the Bank. 
(C) An analysis comparing the level of 
credit extended by the Bank for renewable en-
ergy and energy efficiency projects with the 
level of credit so extended for the preceding fis-
cal year. 
(c) DEFINITION OF RENEWABLE ENERGY AND EN-
ERGY EFFICIENCY PROJECTS.—In this section, the term 
‘‘renewable energy and energy efficiency projects’’ means 
projects related to solar, wind, biomass, or geothermal en-
ergy sources. 
SEC. 622. INCREASE IN THE AMOUNT OF FINANCING MADE 
AVAILABLE BY THE EXPORT-IMPORT BANK 
FOR TRANSACTIONS INVOLVING RENEWABLE 
ENERGY AND ENERGY EFFICIENCY. 
Section 2(b)(1) of the Export-Import Bank Act of 
1945 (12 U.S.C. 635(b)(1)) is amended by adding at the 
end the following: 
‘‘(M)(i) For each fiscal year that begins after the 1- 
year period that begins with the date of the enactment 
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234 
of this subparagraph, the Bank shall make available, from 
the aggregate loan authority available to the Bank, an 
amount to finance transactions directly related to the pro-
duction of renewable energy or to energy efficiency, which 
shall be not less than— 
‘‘(I) in the case of the 1st such fiscal year, 
$200,000,000; 
‘‘(II) in the case of each of the 2nd through 6th 
such fiscal years, 120 percent of the amount made 
available in accordance with this clause to finance 
the transactions for the then preceding fiscal year; 
and 
‘‘(III) in the case of each fiscal year after the 
6th such fiscal year, the amount made available in 
accordance with this clause to finance the trans-
actions for such 6th fiscal year. 
‘‘(ii) In this Act, the term ‘renewable energy’ means 
solar energy, wind energy, energy generated by the use 
of a fuel cell, geothermal energy, and less than 10 
megawatts of energy generated by hydropower.’’. 
SEC. 623. OFFICE OF RENEWABLE ENERGY PROMOTION. 
Section 3 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635a) is amended by adding at the end the 
following: 
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‘‘(j) 
OFFICE
OF
RENEWABLE
ENERGY
PRO-
MOTION.— 
‘‘(1) ESTABLISHMENT.—Within 1 year after 
the date of the enactment of this subsection, the 
Bank shall establish an Office of Renewable Energy 
Promotion (in this subsection referred to as the ‘‘Of-
fice’’) staffed by individuals with expertise in financ-
ing renewable energy technologies. 
‘‘(2) FUNCTIONS.—The Office shall assist the 
Bank in complying with section 2(b)(1)(M) by iden-
tifying opportunities to provide financing for trans-
actions directly related to the production of renew-
able energy or to energy efficiency.’’. 
SEC. 624. REPORT ON EXPORT-IMPORT BANK FINANCING 
FOR TRANSACTIONS INVOLVING RENEWABLE 
ENERGY OR ENERGY EFFICIENCY. 
Section 8 of the Export-Import Bank Act of 1945 
(12 U.S.C. 635g) is amended by adding at the end the 
following: 
‘‘(g) FINANCING FOR TRANSACTIONS INVOLVING RE-
NEWABLE ENERGY OR ENERGY EFFICIENCY.—The Bank 
shall include in its annual report under subsection (a) of 
this section— 
‘‘(1) a description of the activities of the Office; 
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‘‘(2) a description of the number of trans-
actions and the amount of credit extended by the 
Bank for renewable energy and energy efficiency 
technologies, disaggregated by the types of renew-
able energy specified in section 2(b)(1)(M)(ii); and 
‘‘(3) a comparison between the number and 
amount referred to in paragraph (2) for the period 
covered by the report, and the numbers and amounts 
reported for all preceding periods pursuant to this 
subsection.’’. 
SEC. 625. REPORT ON EFFECT OF EXPORT-IMPORT BANK 
FINANCING 
ON 
GREENHOUSE 
GAS 
EMIS-
SIONS. 
(a) IN GENERAL.—Within 5 years after the date of 
the enactment of this Act, the Export-Import Bank of the 
United States shall prepare and submit to the Committee 
on Financial Services of the House of Representatives and 
the Committee on Finance of the Senate a report that— 
(1) estimates the amount of greenhouse gases 
emitted annually as a result of the activities fi-
nanced by the Bank; and 
(2) identifies opportunities to reduce the 
amount of greenhouse gases emitted as a result of 
the activities. 
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237 
(b) GREENHOUSE GAS DEFINED.—In subsection (a), 
the term ‘‘greenhouse gas’’ means carbon dioxide, 
hydrofluorocarbons, 
methane, 
nitrous 
oxide, 
perfluorocarbons, sulfur hexafluoride, or any other 
anthropogenically-emitted gas that is determined by the 
Administrator of the Environmental Protection Agency, 
after notice and comment, to contribute to global warming 
to a non-negligible degree. 
Subtitle D—Emerging Clean En-
ergy Technology Venture Cap-
ital Fund 
SEC. 631. FINDINGS. 
Congress finds the following: 
(1) It is in the interests of the United States 
to promote technologies that reduce our dependence 
on fossil fuels. 
(2) New and emerging clean energy tech-
nologies often fail to achieve commercial success due 
to funding shortfalls, often termed ‘‘the Valley of 
Death’’, before the technologies attract the necessary 
private venture capital funding required for further 
development. 
SEC. 632. ESTABLISHMENT OF FUND. 
The Secretary of Energy, using authorities granted 
to the Secretary of Defense under section 2371 of title 
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10, United States Code, shall provide for the establish-
ment of a nonprofit venture capital investment corpora-
tion, to be known as the Emerging Clean Energy Tech-
nology Venture Capital Fund, for the purpose of making 
funding available to United States companies for the de-
velopment of technologies used— 
(1) for the production of renewable energy; or 
(2) to improve energy efficiency. 
SEC. 633. AUTHORIZATION OF APPROPRIATIONS. 
There are authorized to be appropriated to the Sec-
retary of Energy $100,000,000 for each of the fiscal years 
2008 through 2012 for carrying out this subtitle. 
TITLE VII—GREENHOUSE GAS 
REDUCTIONS 
Subtitle A—Global Climate Change 
SEC. 701. GLOBAL CLIMATE CHANGE. 
(a) IN GENERAL.—The Clean Air Act (42 U.S.C. 
7401 et seq.) is amended by adding at the end the fol-
lowing new title: 
‘‘TITLE VIII—GLOBAL CLIMATE 
CHANGE 
‘‘TITLE VIII—GLOBAL CLIMATE CHANGE 
‘‘Sec. 801. Definitions. 
‘‘Subtitle A—Stopping and Reversing Greenhouse Gas Emissions 
‘‘Sec. 811. Regulations; greenhouse gas emissions limitations. 
‘‘Sec. 812. Scientific review of the safe climate level. 
‘‘Sec. 813. Required review of emission reductions needed to maintain the safe 
climate level. 
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‘‘Sec. 814. Distribution of allowances between auctions and allocations; nature 
of allowances. 
‘‘Sec. 815. Auction of allowances. 
‘‘Sec. 816. Allocation of allowances. 
‘‘Sec. 817. Adaptation assistance. 
‘‘Sec. 818. Early reduction credits. 
‘‘Sec. 819. Avoiding significant economic harm. 
‘‘Sec. 820. Use and transfer of credits. 
‘‘Sec. 821. Compliance and enforcement. 
‘‘Sec. 822. Equalizing the treatment of domestic and imported industrial prod-
ucts sold in the United States. 
‘‘Subtitle B—Offset Credits 
‘‘Sec. 831. Outreach initiative on revenue enhancement for agricultural pro-
ducers. 
‘‘Sec. 832. Offset measurement for agricultural, forestry, wetlands, and other 
land use-related sequestration projects. 
‘‘Sec. 833. Offset credits from greenhouse gas emissions reduction projects. 
‘‘Sec. 834. Borrowing at program start-up based on contracts to purchase off-
set credits. 
‘‘Sec. 835. Review and correction of accounting for offset credits. 
‘‘Subtitle C—National Registry for Credits 
‘‘Sec. 841. Establishment and operation of national registry. 
‘‘Sec. 842. Monitoring and reporting. 
‘‘SEC. 801. DEFINITIONS. 
‘‘In this title: 
‘‘(1) ALLOCATION.—The term ‘allocation’, with 
respect to an allowance, means the issuance of an al-
lowance directly to covered entities, at no cost, under 
this title. 
‘‘(2) 
ALLOWANCE.—The 
term 
‘allowance’ 
means an authorization under this title to emit 1 
metric ton of carbon dioxide (or a carbon dioxide 
equivalent), as allocated to a covered entity pursuant 
to section 816. 
‘‘(3) 
CARBON
DIOXIDE
EQUIVALENT.—The 
term ‘carbon dioxide equivalent’ means, with respect 
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240 
to a greenhouse gas, the quantity of the greenhouse 
gas that makes the same contribution to global 
warming as 1 metric ton of carbon dioxide, as deter-
mined by the Administrator. 
‘‘(4) COVERED ENTITY.—The term ‘covered en-
tity’ means an entity (including a branch, depart-
ment, agency, or instrumentality of Federal, State, 
or local government) that— 
‘‘(A) owns or controls a source of green-
house gas emissions in the electric power, in-
dustrial, or commercial sector of the United 
States economy (as defined in the Inventory), 
refines or imports products for use in transpor-
tation, 
or 
produces 
or 
imports 
hydrofluorocarbons, perfluorocarbons, or sulfur 
hexafluoride; and 
‘‘(B) emits, from any single facility owned 
by the entity, over 10,000 metric tons of green-
house gas per year, measured in units of carbon 
dioxide equivalents, or— 
‘‘(i) refines or imports products that, 
when combusted, will emit; 
‘‘(ii) 
produces 
or 
imports 
hydrofluorocarbons, perfluorocarbons, or 
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241 
sulfur hexafluoride that, when used, will 
emit; or 
‘‘(iii) produces or imports other green-
house gases that, when used, will emit, 
over 10,000 metric tons of greenhouse gas 
per year, measured in units of carbon diox-
ide equivalents. 
‘‘(5) CREDIT.— 
‘‘(A) IN
GENERAL.—The term ‘credit’ 
means an authorization under this title to emit 
greenhouse gases equivalent to 1 metric ton of 
carbon dioxide. 
‘‘(B) INCLUSIONS.—The term ‘credit’ in-
cludes— 
‘‘(i) an allowance; 
‘‘(ii) an offset credit; 
‘‘(iii) an early reduction credit; or 
‘‘(iv) an international credit. 
‘‘(6) EARLY
REDUCTION
CREDIT.—The term 
‘early reduction credit’ means a credit issued under 
section 818 for a reduction in the quantity of emis-
sions or an increase in sequestration equivalent to 1 
metric ton of carbon dioxide. 
‘‘(7) ELIGIBLE ENTITY.—The term ‘eligible en-
tity’ include any entity determined by the Adminis-
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