Keep America Competitive Global Warming Policy Act of 2006

Bill: 109-hr-5049
Sponsor: Rep. Udall, Tom [D-NM-3]
Introduced: 2006-03-29 in the House
Policy area: Environmental Protection
Subjects: Administrative procedure
Agriculture and Food
Air pollution control
Alternative energy sources
American investments
Animals
Awards, medals, prizes
Balance of payments
Carbon cycle
Climate change and greenhouse gases
Coal
Commemorations
Commerce
Commercialization
Congress
Congress and foreign policy
Congressional oversight
Congressional reporting requirements
Department of Energy
Developing countries
Economic assistance
Economics and Public Finance
Electric utilities
Emissions trading
Energy
Energy assistance for the poor
Energy efficiency
Energy research
Energy security
Environmental Protection Agency
Executive reorganization
Farm produce
Federal aid to air pollution control
Federal officials
Fines (Penalties)
Foreign Trade and International Finance
Fossil fuels
Gas industry
Gas pipelines
Government Operations and Politics
Grants-in-aid
Identification devices
Import restrictions
Imports
International Affairs
International environmental cooperation
Job hunting
Labor and Employment
Law
Livestock
Manufacturing industries
Methane
Natural gas
Petroleum industry
Petroleum refineries
Pollution measurement
President and foreign policy
Research and development
Science, Technology, Communications
Social Welfare
Technological innovations
Technology transfer
Transportation and Public Works
Unemployment
Unemployment insurance

Summary:
action_date: 2006-03-29
text: 
Keep America Competitive Global Warming Policy Act of 2006 - Requires the Administrator of the Environmental Protection Agency (EPA) to issue regulations to establish a system for: (1) issuing, recording, and tracking greenhouse gas emission allowances; (2) measuring carbon that will be produced by covered fossil fuels; and (3) measuring greenhouse gases in carbon equivalents.
 
Directs the Administrator to issue annually, maintain a registry of, and assign unique serial numbers to allowances based on the estimated emission matching allowances required to be transferred to the Administrator, before activities may be conducted, by: (1) importers of refined petroleum products or coal; (2) owners and operators of natural gas pipelines, natural gas processing plants, oil refineries, coal preparation plants, or coal mines; and (3) persons selling or disposing of other covered fossil fuels, greenhouse gases, or products processed through an agricultural, industrial, or manufacturing process that emits a greenhouse gas. Allows a person to sell or exchange an allowance to any other person.
 
Requires the Administrator to allocate specified percentages of allowances: (1) to the Secretary of Energy to establish the Advanced Research Projects Agency-Energy to implement an innovative energy research and technology development and deployment program; (2) to the Secretary of State for investing in and providing assistance for low-emission policies, technologies, and projects in developing countries; (3) for distribution to specified industry sectors to offset their losses of profits that are directly attributable to this Act; (4) to the states for grants to help individuals who have lost their jobs due to this Act, for grants to assist communities that demonstrate economic loss due to this Act, and for low-income home energy assistance; and (5) to the Treasury.
 
Requires the Secretary of the Treasury to offer an unlimited number of allowances for sale at a safety valve price, which the Secretary shall increase after the President accepts a certification by the Secretary of State that the five developing countries with the most greenhouse gas emissions are enforcing policies and programs comparable to those established pursuant to this Act.
 
Sets forth a civil penalty for entities that do not transfer the required number of allowances to the Administrator. Allows government agencies with ratemaking regulatory authority to allow an entity required to submit allowances to recover the full market value of such allowances.
 
Directs the Administrator to: (1) review and approve appropriate domestic sequestration project proposals that will result in a measurable reduction in greenhouse gas emissions; and (2) issue allowances based on the amount of greenhouse gas sequestered.
 



Legislative actions:
action_date: 2006-05-24
text: Referred to the Subcommittee on Education Reform.
action_date: 2006-05-24
text: Referred to the Subcommittee on 21st Century Competitiveness.
action_date: 2006-04-19
text: Referred to the Subcommittee on Energy and Air Quality.
action_date: 2006-04-19
text: Referred to the Subcommittee on Environment, Technology, and Standards.
action_date: 2006-04-19
text: Referred to the Subcommittee on Energy.
action_date: 2006-04-04
text: Sponsor introductory remarks on measure. (CR H1399)
action_date: 2006-03-29
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Science, International Relations, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-29
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Science, International Relations, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-29
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Science, International Relations, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-29
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Science, International Relations, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-29
text: Referred to the Committee on Energy and Commerce, and in addition to the Committees on Science, International Relations, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2006-03-29
text: Sponsor introductory remarks on measure. (CR H1200, E446)
action_date: 2006-03-29
text: Introduced in House
action_date: 2006-03-29
text: Introduced in House