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‘‘(B) PRODUCTION INCENTIVE PAYMENTS.—
‘‘(i) IN GENERAL.—Amounts loaned to
an obligor under subparagraph (A) shall be
made available in the form of a series of
production incentive payments provided by
the Board to the obligor during a period of
not more than 10 years, as determined by
the Board, beginning after the date on
which commercial project operations start
at the eligible project.
‘‘(ii) AMOUNT.—Production incentive
payments under clause (i) shall be for an
amount equal to 25 percent of the value
of—
‘‘(I) the energy produced or trans-
mitted by the eligible project during
the applicable year; or
‘‘(II) any gains in energy effi-
ciency achieved by the eligible project
during the applicable year.
‘‘(2) TERMS AND LIMITATIONS.—
‘‘(A) IN GENERAL.—A secured loan under
this subsection shall be subject to such terms and
conditions, including any covenant, representa-
tion, warranty, and requirement (including a re-
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quirement for an audit) that the Secretary deter-
mines to be appropriate.
‘‘(B) AGREEMENT COSTS.—Subject to sub-
section (c)(4), the cost of carrying out an agree-
ment entered into under paragraph (1)(A) shall
be paid by the Secretary.
‘‘(C) INTEREST RATE.—
‘‘(i) IN
GENERAL.—Subject to clause
(ii), the interest rate on a secured loan
under this subsection shall be established by
the Secretary.
‘‘(ii) MINIMUM
RATE.—The interest
rate on a secured loan under this subsection
shall not be less than the current average
market yield on outstanding marketable ob-
ligations of the United States of comparable
maturity, as of the date on which the agree-
ment under paragraph (1)(A) is executed.
‘‘(D) SECURITY.—The secured loan—
‘‘(i) shall be payable, in whole or in
part, from dedicated revenue sources gen-
erated by the eligible project;
‘‘(ii) shall include a rate covenant, cov-
erage requirement, or similar security fea-
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ture supporting the eligible project obliga-
tions; and
‘‘(iii) may have a lien on revenues de-
scribed in clause (i), subject to any lien se-
curing eligible project obligations.
‘‘(E) RIGHTS
OF
THIRD-PARTY
CREDI-
TORS.—
‘‘(i) 
AGAINST
FEDERAL
GOVERN-
MENT.—A third-party creditor of the obligor
shall not have any right against the Federal
Government with respect to any payments
due to the Federal Government under the
agreement entered into under paragraph
(1)(A).
‘‘(ii) ASSIGNMENT.—An obligor may
assign production incentive payments to 1
or more lenders or to a trustee on behalf of
the lenders.
‘‘(F) 
SUBORDINATION.—A 
secured 
loan
under this subsection shall be subordinate to sen-
ior private debt issued by a lender for the eligible
project.
‘‘(G) NONRECOURSE
STATUS.—A secured
loan under this subsection shall be nonrecourse to
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the obligor in the event of bankruptcy, insol-
vency, or liquidation of the eligible project.
‘‘(H) FEES.—The Secretary may impose
fees at a level sufficient to cover all or part of
the costs to the Federal Government of providing
production incentive payments under this sub-
section.
‘‘(3) REPAYMENT.—
‘‘(A) 
SCHEDULE, 
TERMS, 
AND
CONDI-
TIONS.—The Secretary shall establish a repay-
ment schedule and terms and conditions for each
secured loan under this subsection based on the
projected cash flow from revenues of the eligible
project.
‘‘(B) REPAYMENT
SCHEDULE.—Scheduled
repayments of principal or interest on a secured
loan under this subsection shall—
‘‘(i) commence not later than 5 years
after the date on which the last production
incentive payment is made by the Board
under paragraph (1)(B); and
‘‘(ii) be completed, with interest, not
later than 10 years after the date on which
the last production incentive payment is
made.
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‘‘(C) SOURCES
OF
REPAYMENT
FUNDS.—
The sources of funds for scheduled loan repay-
ments under this subsection include—
‘‘(i) the sale of electricity or generating
capacity,
‘‘(ii) the sale or transmission of energy;
‘‘(iii) revenues associated with energy
efficiency gains; or
‘‘(iv) other dedicated revenue sources.
‘‘(D) DEFERRED PAYMENTS.—
‘‘(i) AUTHORIZATION.—If, at any time
during the 10-year period beginning on the
date on which commercial operations of the
eligible project start, the eligible project is
unable to generate sufficient revenues to pay
the scheduled loan repayments of principal
or interest on a secured loan under this sub-
section, the Secretary may, subject to cri-
teria established by the Secretary (including
standards for reasonable assurances of re-
payment), allow the obligor to add unpaid
principal and interest to the outstanding
balance of the secured loan.
‘‘(ii) INTEREST.—Any payment de-
ferred under clause (i) shall—
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‘‘(I) continue to accrue interest in
accordance 
with 
paragraph 
(2)(C)
until fully repaid; and
‘‘(II) be scheduled to be amortized
over the number of years remaining in
the term of the loan in accordance with
subparagraph (B).
‘‘(E) PREPAYMENT.—
‘‘(i) USE OF EXCESS REVENUES.—At
the discretion of the obligor, any excess reve-
nues that remain after satisfying scheduled
debt service requirements on the eligible
project obligations and the secured loan,
and all deposit requirements under the
terms of any trust agreement, bond resolu-
tion, or similar agreement securing eligible
project obligations, may be applied annu-
ally to prepay loans pursuant to an agree-
ment entered into under paragraph (1)(A)
without penalty.
‘‘(ii) USE
OF
PROCEEDS
OF
REFI-
NANCING.—The secured loan may be pre-
paid at any time without penalty from the
proceeds of refinancing from non-Federal
funding sources.
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‘‘(4) SALE OF SECURED LOANS.—
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), as soon as practicable after the date
on which the last production incentive payment
is made to the obligor under paragraph (1)(B)
and after notifying the obligor, the Secretary
may sell to another entity or reoffer into the cap-
ital markets a secured loan for the eligible
project if the Secretary determines that the sale
or reoffering can be made on favorable terms.
‘‘(B) CONSENT
REQUIRED.—In making a
sale or reoffering under subparagraph (A), the
Board may not change the original terms and
conditions of the secured loan without the writ-
ten consent of the obligor.
‘‘(h) OTHER CREDIT-BASED FINANCIAL ASSISTANCE
MECHANISMS FOR ELIGIBLE PROJECTS.—
‘‘(1) IN GENERAL.—
‘‘(A) AGREEMENTS.—The Board may enter
into an agreement with 1 or more obligors to
make a secured loan to the obligors for eligible
projects selected under subsection (c) that employ
advanced technologies or systems, the proceeds of
which shall be used to—
‘‘(i) finance eligible project costs; or
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‘‘(ii) enhance eligible project revenues.
‘‘(B) CREDIT-BASED
FINANCIAL
ASSIST-
ANCE.—Amounts made available as a secured
loan under subparagraph (A) shall be provided
by the Board to the obligor in the form of credit-
based financial assistance mechanisms that are
not otherwise specifically provided for in sub-
sections (d) through (g), as determined to be ap-
propriate by the Secretary.
‘‘(2) TERMS AND LIMITATIONS.—
‘‘(A) IN GENERAL.—A secured loan under
this subsection shall be subject to such terms and
conditions (including any covenants, representa-
tions, warranties, and requirements (including a
requirement for an audit)) as the Secretary de-
termines to be appropriate.
‘‘(B) MAXIMUM AMOUNT.—Subject to sub-
section (c)(5), the total amount of the secured
loan under this subsection shall not exceed 50
percent of the reasonably anticipated eligible
project costs.
‘‘(C) PERIOD OF AVAILABILITY.—The Board
may enter into a contract with the obligor to
provide credit-based financial assistance to an
eligible project during the period—
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‘‘(i) beginning on the date that the fi-
nancial structure of the eligible project is es-
tablished; and
‘‘(ii) ending on the date of the start of
construction of the eligible project.
‘‘(D) AGREEMENT COSTS.—Subject to sub-
section (c)(4)(E), the cost of carrying out an
agreement entered into under paragraph (1)(A)
shall be paid by the Board.
‘‘(E) INTEREST RATE.—
‘‘(i) IN
GENERAL.—Subject to clause
(ii), the interest rate on a secured loan
under this subsection shall be established by
the Board.
‘‘(ii) MINIMUM
RATE.—The interest
rate on a secured loan under this subsection
shall not be less than the current average
market yield on outstanding marketable ob-
ligations of the United States of comparable
maturity, as of the date of the execution of
the secured loan agreement.
‘‘(F) SECURITY.—The secured loan—
‘‘(i) shall be payable, in whole or in
part, from dedicated revenue sources gen-
erated by the eligible project;
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‘‘(ii) shall include a rate covenant, cov-
erage requirement, or similar security fea-
ture supporting the eligible project obliga-
tions; and
‘‘(iii) may have a lien on revenues de-
scribed in clause (i), subject to any lien se-
curing eligible project obligations.
‘‘(G) RIGHTS
OF
THIRD-PARTY
CREDI-
TORS.—
‘‘(i) 
AGAINST
FEDERAL
GOVERN-
MENT.—A third-party creditor of the obligor
shall not have any right against the Federal
Government with respect to any payments
due to the Federal Government under this
subsection.
‘‘(ii) ASSIGNMENT.—An obligor may
assign payments made pursuant to an
agreement to provide credit-based financial
assistance under this subsection to 1 or
more lenders or to a trustee on behalf of the
lenders.
‘‘(H) SUBORDINATION.—A secured loan
under this subsection shall be subordinate to sen-
ior private debt issued by a lender for the eligible
project.
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‘‘(I) NONRECOURSE
STATUS.—A secured
loan under this subsection shall be nonrecourse to
the obligor in the event of bankruptcy, insol-
vency, or liquidation of the eligible project.
‘‘(J) FEES.—The Board may establish fees
at a level sufficient to cover all or part of the
costs to the Federal Government of providing
credit-based financial assistance under this sub-
section.
‘‘(3) REPAYMENT.—
‘‘(A) SCHEDULE AND TERMS AND CONDI-
TIONS.—The Board shall establish a repayment
schedule and terms and conditions for each se-
cured loan under this subsection based on the
projected cash flow from eligible project revenues.
‘‘(B) REPAYMENT
SCHEDULE.—Scheduled
loan repayments of principal or interest on a se-
cured loan under this subsection shall—
‘‘(i) commence not later than 5 years
after the date of substantial completion of
the eligible project; and
‘‘(ii) be completed, with interest, not
later than 35 years after the date of sub-
stantial completion of the eligible project.
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‘‘(C) SOURCES
OF
REPAYMENT
FUNDS.—
The sources of funds for scheduled loan repay-
ments under this subsection shall include—
‘‘(i) the sale of electricity or generating
capacity;
‘‘(ii) the sale or transmission of energy;
‘‘(iii) revenues associated with energy
efficiency gains; or
‘‘(iv) other dedicated revenue sources,
such as carbon sequestration.
‘‘(D) DEFERRED PAYMENTS.—
‘‘(i) AUTHORIZATION.—If, at any time
during the 10-year period beginning on the
date of the start of commercial operations of
the eligible project, the eligible project is un-
able to generate sufficient revenues to pay
the scheduled loan repayments of principal
or interest on a secured loan under this sub-
section, the Secretary may, subject to cri-
teria established by the Secretary (including
standards for reasonable assurances of re-
payment), allow the obligor to add unpaid
principal and interest to the outstanding
balance of the secured loan.
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‘‘(ii) INTEREST.—Any payment de-
ferred under clause (i) shall—
‘‘(I) continue to accrue interest in
accordance with paragraph (2)(E)
until fully repaid; and
‘‘(II) be scheduled to be amortized
over the number of years remaining in
the term of the loan in accordance with
subparagraph (B).
‘‘(E) PREPAYMENT.—
‘‘(i) USE OF EXCESS REVENUES.—At
the discretion of the obligor, any excess reve-
nues that remain after satisfying scheduled
debt service requirements on the eligible
project obligations and secured loan, and all
deposit requirements under the terms of any
trust agreement, bond resolution, or similar
agreement securing eligible project obliga-
tions, may be applied annually to prepay a
secured loan under this subsection without
penalty.
‘‘(ii) USE
OF
PROCEEDS
OF
REFI-
NANCING.—A secured loan under this sub-
section may be prepaid at any time without
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penalty from the proceeds of refinancing
from non-Federal funding sources.
‘‘(4) SALE OF SECURED LOANS.—
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), as soon as practicable after the start
of commercial operations of an eligible project
and after notifying the obligor, the Board may
sell to another entity or reoffer into the capital
markets a secured loan for the eligible project
under this subsection if the Secretary determines
that the sale or reoffering can be made on favor-
able terms.
‘‘(B) CONSENT OF OBLIGOR.—In making a
sale or reoffering under subparagraph (A), the
Board may not change the original terms and
conditions of the secured loan without the writ-
ten consent of the obligor.
‘‘(i) FEDERAL, STATE, AND LOCAL REGULATORY RE-
QUIREMENTS.—The provision of Federal financial assist-
ance to an eligible project under this section shall not—
‘‘(1) relieve any recipient of the assistance of any
obligation to obtain any required Federal, State, or
local regulatory requirement, permit, or approval
with respect to the eligible project;
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‘‘(2) limit the right of any unit of Federal, State,
or local government to approve or regulate any rate
of return on private equity invested in the eligible
project; or
‘‘(3) otherwise supersede any Federal, State, or
local law (including any regulation) applicable to the
construction or operation of the eligible project.
‘‘(j) AUTHORIZATION OF APPROPRIATIONS.—There are
authorized to be appropriated such sums as are necessary
to carry out this section for each of fiscal years 2006
through 2010, to remain available until expended.’’.
Subtitle B—Climate Change Tech-
nology 
Deployment 
in 
Devel-
oping Countries
SEC. 1611. CLIMATE CHANGE TECHNOLOGY DEPLOYMENT
IN DEVELOPING COUNTRIES.
The Global Environmental Protection Assistance Act
of 1989 (Public Law 101–240; 103 Stat. 2521) is amending
by adding at the end the following:
‘‘PART C—TECHNOLOGY DEPLOYMENT IN
DEVELOPING COUNTRIES
‘‘SEC. 731. DEFINITIONS.
‘‘In this part:
‘‘(1) CARBON SEQUESTRATION.—The term ‘car-
bon sequestration’ means the capture of carbon diox-
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ide through terrestrial, geological, biological, or other
means, which prevents the release of carbon dioxide
into the atmosphere.
‘‘(2) GREENHOUSE GAS.—The term ‘greenhouse
gas’ means carbon dioxide, methane, nitrous oxide,
hydrofluorocarbons, 
perfluorocarbons, 
and 
sulfur
hexafluoride.
‘‘(3) GREENHOUSE GAS INTENSITY.—The term
‘greenhouse gas intensity’ means the ratio of green-
house gas emissions to economic output.
‘‘SEC. 732. REDUCTION OF GREENHOUSE GAS INTENSITY.
‘‘(a) LEAD AGENCY.—
‘‘(1) IN
GENERAL.—The Department of State
shall act as the lead agency for integrating into
United States foreign policy the goal of reducing
greenhouse gas intensity in developing countries.
‘‘(2) REPORTS.—
‘‘(A) INITIAL REPORT.—Not later than 180
days after the date of enactment of this part, the
Secretary of State shall submit to the appro-
priate authorizing and appropriating commit-
tees of Congress an initial report, based on the
most recent information available to the Sec-
retary from reliable public sources, that identi-
fies the 25 developing countries that are the
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greenhouse gas emitters, including for each
country—
‘‘(i) an estimate of the quantity and
types of energy used;
‘‘(ii) an estimate of the greenhouse gas
intensity of the energy, manufacturing, ag-
ricultural, and transportation sectors;
‘‘(iii) a description the progress of any
significant projects undertaken to reduce
greenhouse gas intensity;
‘‘(iv) a description of the potential for
undertaking projects to reduce greenhouse
gas intensity;
‘‘(v) a description of any obstacles to
the reduction of greenhouse gas intensity;
and
‘‘(vi) a description of the best practices
learned by the Agency for International De-
velopment from conducting previous pilot
and demonstration projects to reduce green-
house gas intensity.
‘‘(B) UPDATE.—Not later than 18 months
after the date on which the initial report is sub-
mitted under subparagraph (A), the Secretary
shall submit to the appropriate authorizing and
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appropriating committees of Congress, based on
the best information available to the Secretary,
an update of the information provided in the
initial report.
‘‘(C) USE.—
‘‘(i) INITIAL REPORT.—The Secretary
of State shall use the initial report sub-
mitted under subparagraph (A) to establish
baselines for the developing countries identi-
fied in the report with respect to the infor-
mation provided under clauses (i) and (ii)
of that subparagraph.
‘‘(ii) ANNUAL
REPORTS.—The Sec-
retary of State shall use the annual reports
prepared under subparagraph (B) and any
other information available to the Secretary
to track the progress of the developing coun-
tries with respect to reducing greenhouse gas
intensity.
‘‘(b) PROJECTS.—The Secretary of State, in coordina-
tion with Administrator of the United States Agency for
International Development, shall (directly or through agree-
ments with the World Bank, the International Monetary
Fund, the Overseas Private Investment Corporation, and
other development institutions) provide assistance to devel-
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oping countries specifically for projects to reduce greenhouse
gas intensity, including projects to—
‘‘(1) leverage, through bilateral agreements, funds
for reduction of greenhouse gas intensity;
‘‘(2) increase private investment in projects and
activities to reduce greenhouse gas intensity; and
‘‘(3) expedite the deployment of technology to re-
duce greenhouse gas intensity.
‘‘(c) FOCUS.—In providing assistance under sub-
section (b), the Secretary of State shall focus on—
‘‘(1) promoting the rule of law, property rights,
contract protection, and economic freedom; and
‘‘(2) increasing capacity, infrastructure, and
training.
‘‘(d) PRIORITY.—In providing assistance under sub-
section (b), the Secretary of State shall give priority to
projects in the 25 developing countries identified in the re-
port submitted under subsection (a)(2)(A).
‘‘SEC. 733. TECHNOLOGY INVENTORY FOR DEVELOPING
COUNTRIES.
‘‘(a) IN GENERAL.—The Secretary of State, in coordi-
nation with the Secretary of Energy and the Secretary of
Commerce, shall conduct an inventory of greenhouse gas in-
tensity reducing technologies that are developed, or under
development in the United States, to identify technologies
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that are suitable for transfer to, deployment in, and com-
mercialization in the developing countries identified in the
report submitted under section 732(a)(2)(A).
‘‘(b) REPORT.—Not later than 180 days after the com-
pletion of the inventory under subsection (a), the Secretary
of State and the Secretary of Energy shall jointly submit
to Congress a report that—
‘‘(1) includes the results of the completed inven-
tory;
‘‘(2) identifies obstacles to the transfer, deploy-
ment, and commercialization of the inventoried tech-
nologies;
‘‘(3) includes results from previous Federal re-
ports related to the inventoried technologies; and
‘‘(4) includes an analysis of market forces related
to the inventoried technologies.
‘‘SEC. 734. TRADE-RELATED BARRIERS TO EXPORT OF
GREENHOUSE 
GAS 
INTENSITY 
REDUCING
TECHNOLOGIES.
‘‘(a) IN GENERAL.—Not later than 1 year after the
date of enactment of this part, the United States Trade Rep-
resentative shall (as appropriate and consistent with appli-
cable bilateral, regional, and mutual trade agreements)—
‘‘(1) identify trade-relations barriers maintained
by foreign countries to the export of greenhouse gas
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intensity reducing technologies and practices from the
United States to the developing countries identified in
the report submitted under section 732(a)(2)(A); and
‘‘(2) negotiate with foreign countries for the re-
moval of those barriers.
‘‘(b) ANNUAL REPORT.—Not later than 1 year after
the date on which a report is submitted under subsection
(a)(1) and annually thereafter, the United States Trade
Representative shall submit to Congress a report that de-
scribes any progress made with respect to removing the bar-
riers identified by the United States Trade Representative
under subsection (a)(1).
‘‘SEC. 735. GREENHOUSE GAS INTENSITY REDUCING TECH-
NOLOGY EXPORT INITIATIVE.
‘‘(a) IN GENERAL.—There is established an inter-
agency working group to carry out a Greenhouse Gas Inten-
sity Reducing Technology Export Initiative to—
‘‘(1) promote the export of greenhouse gas inten-
sity reducing technologies and practices from the
United States;
‘‘(2) identify developing countries that should be
designated as priority countries for the purpose of ex-
porting greenhouse gas intensity reducing technologies
and practices, based on the report submitted under
section 732(a)(2)(A);
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‘‘(3) identify potential barriers to adoption of ex-
ported greenhouse gas intensity reducing technologies
and practices based on the reports submitted under
section 734; and
‘‘(4) identify previous efforts to export energy
technologies to learn best practices.
‘‘(b) COMPOSITION.—The working group shall be com-
posed of—
‘‘(1) the Secretary of State, who shall act as the
head of the working group;
‘‘(2) the Administrator of the United States
Agency for International Development;
‘‘(3) the United States Trade Representative;
‘‘(4) a designee of the Secretary of Energy; and
‘‘(5) a designee of the Secretary of Commerce.
‘‘(c) PERFORMANCE REVIEWS
AND REPORTS.—Not
later than 180 days after the date of enactment of this part
and each year thereafter, the interagency working group
shall—
‘‘(1) conduct a performance review of actions
taken and results achieved by the Federal Government
(including each of the agencies represented on the
interagency working group) to promote the export of
greenhouse gas intensity reducing technologies and
practices from the United States; and
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‘‘(2) submit to the appropriate authorizing and
appropriating committees of Congress a report that
describes the results of the performance reviews and
evaluates progress in promoting the export of green-
house gas intensity reducing technologies and prac-
tices from the United States, including any rec-
ommendations for increasing the export of the tech-
nologies and practices.
‘‘SEC. 736. TECHNOLOGY DEMONSTRATION PROJECTS.
‘‘(a) IN GENERAL.—The Secretary of State, in coordi-
nation with the Secretary of Energy and the Administrator
of the United States Agency for International Development,
shall promote the adoption of technologies and practices
that reduce greenhouse gas intensity in developing countries
in accordance with this section.
‘‘(b) DEMONSTRATION PROJECTS.—
‘‘(1) IN GENERAL.—The Secretaries and the Ad-
ministrator shall plan, coordinate, and carry out, or
provide assistance for the planning, coordination, or
carrying out of, demonstration projects under this sec-
tion in at least 10 eligible countries, as determined by
the Secretaries and the Administrator.
‘‘(2) ELIGIBILITY.—A country shall be eligible
for assistance under this subsection if the Secretaries
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and the Administrator determine that the country has
demonstrated a commitment to—
‘‘(A) just governance, including—
‘‘(i) promoting the rule of law;
‘‘(ii) respecting human and civil
rights;
‘‘(iii) 
protecting 
private 
property
rights; and
‘‘(iv) combating corruption; and
‘‘(B) economic freedom, including economic
policies that—
‘‘(i) encourage citizens and firms to
participate in global trade and inter-
national capital markets;
‘‘(ii) promote private sector growth
and the sustainable management of natural
resources; and
‘‘(iii) strengthen market forces in the
economy.
‘‘(3) SELECTION.—In determining which eligible
countries to provide assistance to under paragraph
(1), the Secretaries and the Administrator shall
consider—
‘‘(A) the opportunity to reduce greenhouse
gas intensity in the eligible country; and
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‘‘(B) the opportunity to generate economic
growth in the eligible country.
‘‘(4) 
TYPES
OF
PROJECTS.—Demonstration
projects under this section may include—
‘‘(A) coal gasification, coal liquefaction, and
clean coal projects;
‘‘(B) carbon sequestration projects;
‘‘(C) cogeneration technology initiatives;
‘‘(D) renewable projects; and
‘‘(E) lower emission transportation.
‘‘SEC. 737. FELLOWSHIP AND EXCHANGE PROGRAMS.
‘‘The Secretary of State, in coordination with the Sec-
retary of Energy, the Secretary of Commerce, and the Ad-
ministrator of the Environmental Protection Agency, shall
carry out fellowship and exchange programs under which
officials from developing countries visit the United States
to acquire expertise and knowledge of best practices to re-
duce greenhouse gas intensity in their countries.
‘‘SEC. 738. AUTHORIZATION OF APPROPRIATIONS.
‘‘There are authorized to be appropriated such sums
as are necessary to carry out this part (other than section
736).
‘‘SEC. 739. EFFECTIVE DATE.
‘‘Except as otherwise provided in this part, this part
takes effect on October 1, 2005.’’.
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SEC. 1612. SENSE OF THE SENATE ON CLIMATE CHANGE.
(a) FINDINGS.—Congress finds that—
(1) greenhouse gases accumulating in the atmos-
phere are causing average temperatures to rise at a
rate outside the range of natural variability and are
posing a substantial risk of rising sea-levels, altered
patterns of atmospheric and oceanic circulation, and
increased frequency and severity of floods and
droughts;
(2) there is a growing scientific consensus that
human activity is a substantial cause of greenhouse
gas accumulation in the atmosphere; and
(3) mandatory steps will be required to slow or
stop the growth of greenhouse gas emissions into the
atmosphere.
(b) SENSE OF THE SENATE.—It is the sense of the Sen-
ate that Congress should enact a comprehensive and effective
national program of mandatory, market-based limits and
incentives on emissions of greenhouse gases that slow, stop,
and reverse the growth of such emissions at a rate and in
a manner that—
(1) will not significantly harm the United States
economy; and
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(2) will encourage comparable action by other
nations that are major trading partners and key con-
tributors to global emissions.
Attest:
Secretary.