‘‘(b) CONSULTATION.—The Secretary shall carry out 
this section in consultation with the Administrator of the 
Environmental Protection Agency. 
‘‘(c) SUBSEQUENT INCREASES.—Upon petition or 
upon the Secretary’s own initiative, the Secretary may in-
crease the percentage required by subsection (a)(2). 
‘‘(d) RULE OF CONSTRUCTION.—Nothing in this sec-
tion shall be construed to preempt or limit State actions 
to enhance renewable energy generation or energy effi-
ciency.’’. 
TITLE II—ENERGY EFFICIENCY 
SEC. 201. NATIONAL ENERGY EFFICIENCY STANDARD. 
Title VI of the Public Utility Regulatory Policies Act 
of 1978 (16 U.S.C. 824a–4 et seq.), as amended by sec-
tion 101 of this Act, is amended by adding at the end 
the following: 
‘‘SEC. 611. NATIONAL ENERGY EFFICIENCY STANDARD. 
‘‘(a) IN GENERAL.—The Secretary shall promulgate 
regulations in accordance with this section setting end- 
user savings targets for retail electric energy and natural 
gas suppliers. 
‘‘(b) CONSULTATION.—The Secretary shall carry out 
this section in consultation with the Administrator of the 
Environmental Protection Agency. 
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‘‘(c) REQUIREMENTS.—With respect to targets under 
subsection (a): 
‘‘(1) The targets shall require each supplier to 
secure annual savings of a set percentage of the sup-
plier’s most recent year’s sales to retail customers. 
‘‘(2) The savings shall be achieved through end- 
use efficiency improvements at customer facilities. 
‘‘(3) The targets— 
‘‘(A) for retail electric energy suppliers 
shall increase gradually from 0.25 percent of 
sales in 2018 to 1.5 percent of sales in 2023 
and each year thereafter through 2028; and 
‘‘(B) for retail natural gas suppliers shall 
increase gradually from 0.25 percent of sales in 
2018 to 0.5 percent of sales in 2023 and each 
year thereafter through 2028. 
‘‘(4) The targets are cumulative. Each year’s 
savings shall be achieved in addition to the previous 
years’ savings. 
‘‘(d) REQUIRED PERCENTAGES AFTER 2028.—The 
Secretary may, upon petition or upon the Secretary’s own 
initiative, increase the required percentage of end-user 
savings for years after 2028. 
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‘‘(e) MARKET-BASED TRADING SYSTEM.—The Sec-
retary shall allow suppliers to achieve the targets under 
subsection (a) through a market-based trading system. 
‘‘(f) RULE OF CONSTRUCTION.—Nothing in this sec-
tion shall be construed to preempt or limit State actions 
to enhance renewable energy generation or energy effi-
ciency.’’. 
TITLE III—SCIENCE-BASED 
REDUCTIONS 
SEC. 301. EMISSION REDUCTION TARGETS. 
Not later than 2 years after the date of enactment 
of this Act, the Administrator of the Environmental Pro-
tection Agency (in this title referred to as the ‘‘Adminis-
trator’’) shall promulgate annual emission reduction tar-
gets for each of calendar years 2030 through 2050, so as 
to ensure that the quantity of United States greenhouse 
gas emissions— 
(1) in 2035, is at least 40 percent below the 
quantity of such emissions in 1990; and 
(2) in 2050, is at least 80 percent below the 
quantity of such emissions in 1990. 
SEC. 302. NATIONAL ACADEMIES REVIEW. 
Not later than 5 years after the date of the enact-
ment of this Act, and every 5 years thereafter, the Admin-
istrator shall enter into an arrangement with the National 
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Academies (or, if the National Academies decline to enter 
into such arrangement, another appropriate entity) under 
which the National Academies, acting through the Na-
tional Academy of Sciences and the National Research 
Council, will submit a report to the Administrator and the 
Congress on the prospects for avoiding dangerous anthro-
pogenic interference with the climate system and the 
progress made to date. Each such report shall— 
(1) evaluate whether the emission reduction tar-
gets promulgated pursuant to section 301 and the 
policies to reduce United States greenhouse gas 
emissions under this Act, the amendments made by 
this Act, and other provisions of law, including the 
Clean Air Act (42 U.S.C. 7401 et seq.), are likely 
to be sufficient to avoid dangerous climate change, 
taking into account the actions of other nations; and 
(2) if the National Academies concludes that 
such targets and policies are not likely to be suffi-
cient to avoid dangerous climate change— 
(A) identify the needed amount of further 
reductions in atmospheric greenhouse gas con-
centrations; and 
(B) recommend additional United States 
and international actions to further reduce at-
mospheric greenhouse gas concentrations. 
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SEC. 303. REGULATIONS. 
(a) IN GENERAL.—The Administrator shall— 
(1) not later than 7 years after the date of en-
actment of this Act, promulgate final regulations to 
implement the emission reduction targets under sec-
tion 301; and 
(2) not less than every 5 years thereafter— 
(A) review such regulations, taking into ac-
count the reports under section 302; and 
(B) revise such regulation as necessary to 
implement such emission reduction targets. 
(b) RULEMAKING ON RECOMMENDATIONS OF NA-
TIONAL ACADEMIES.—If any report under section 302 in-
cludes a recommendation under section 302(2)(B) for reg-
ulatory action by a Federal department or agency, and 
such regulatory action is within the authority of such de-
partment or agency (under law other than this sub-
section), the head of such department or agency shall, not 
later than 2 years after the submission of such report, fi-
nalize a rulemaking— 
(1) to carry out such regulatory action; or 
(2) to explain the reasons for declining to act. 
(c) ADDITIONAL REGULATIONS.—The regulations 
promulgated under subsection (a) may include additional 
regulations to reduce emissions of United States green-
house gases from any source or sector. Any such regula-
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tions that address sources whose greenhouse gas emissions 
are regulated pursuant to section 111(d) of the Clean Air 
Act (42 U.S.C. 7411(d)) shall account for the compliance 
schedule promulgated pursuant to such section 111(d). 
Regulations under this section may include market-based 
measures, emissions performance standards, efficiency 
performance standards, best management practices, tech-
nology-based requirements, and other forms of require-
ments. 
(d) RELATION TO OTHER AUTHORITY.—The author-
ity vested by this title is in addition to the authority to 
regulate greenhouse gas emissions pursuant to other pro-
visions of law. 
SEC. 304. SAVINGS CLAUSE. 
Nothing in this title shall be interpreted to preempt 
or limit State actions to address climate change. 
SEC. 305. DEFINITIONS. 
In this title: 
(1) GREENHOUSE GAS.—The term ‘‘greenhouse 
gas’’ means— 
(A) carbon dioxide; 
(B) methane; 
(C) nitrous oxide; 
(D) hydrofluorocarbons; 
(E) perfluorocarbons; 
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