3.0.0 1766 2023-01-11T20:42:12Z 2023-01-11T20:42:12Z Senate S S 2007-07-11 110 ssev00 Environment and Public Works Committee Senate Standing Referred to 2007-07-11T19:59:40Z 2007-08-02 Sponsor introductory remarks on measure. (CR S10775, S10776) IntroReferral B00100 9 Library of Congress 2007-07-11 ssev00 Environment and Public Works Committee Senate Read twice and referred to the Committee on Environment and Public Works. IntroReferral 2007-07-11 Sponsor introductory remarks on measure. (CR S9022-9023) IntroReferral B00100 9 Library of Congress 2007-07-11 Introduced in Senate IntroReferral 10000 9 Library of Congress B000468 Sen. Bingaman, Jeff [D-NM] JESSE BINGAMAN D NM FRANCIS N S000709 Sen. Specter, Arlen [R-PA] ARLEN SPECTER R PA 2007-07-11 True H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD 2007-07-11 True S000888 Sen. Stevens, Ted [R-AK] THEODORE STEVENS R AK F. 2007-07-11 True M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2007-07-11 True A000069 Sen. Akaka, Daniel K. [D-HI] DANIEL AKAKA D HI KOHIKINA 2007-07-11 True C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2007-07-19 False Environmental Protection Animals Automobile industry Biomass energy Carbon cycle Carbon dioxide Cellulose Climate change and greenhouse gases Coal Commerce Economics and Public Finance Electric power production Emissions trading Energy Energy assistance for the poor Energy conservation Energy research Environmental research Environmental technology Fishery management Fluorocarbons Foreign Trade and International Finance Geology Government trust funds Housing and Community Development Imports International Affairs International environmental cooperation Manufacturing industries Marine and coastal resources, fisheries Methane Municipal solid waste Public Lands and Natural Resources Research and development Science, Technology, Communications Social Welfare Sulphur Transportation and Public Works Wildlife conservation Environmental Protection 00 2007-07-11 Introduced in Senate 2007-12-17T23:01:31Z Low Carbon Economy Act of 2007 - Requires specified regulated entities (including certain fuel distributors and owners and operators of coal facilities or nonfuel regulated entities) to submit to the President: (1) the number of allowances or credits equal to the entity's covered greenhouse gas (GHG) emissions; or (2) a payment equal to the amount of the technology accelerator payment (TAP) price in lieu of submission of required allowances. Requires the President to establish a trading system for such allowances and credits.

Requires TAP payments to be deposited into the Energy Technology Deployment Fund.

Requires the Secretary of Energy to: (1) report on next generation technologies that can reduce and use methane emissions; and (2) use a portion of the Fund to carry out a methane research and development program.

Provides for: (1) allowances to industry, carbon-intensive manufacturing facilities, and states; (2) agricultural sequestration allowances; (3) allowances for early reduction projects; (4) bonus allowances to entities that implement geological sequestration projects; and (5) allowances for technology, adaptation, and low-income household assistance.

Provides for credits for: (1) activities that take specified GHG precursors (specified fuel, hydrofluorocarbons, perfluorocarbons, sulfur hexafluoride, or nitrous oxide) out of commerce in the United States; (2) carbon dioxide sequestration; and (3) specified offset projects.

Establishes: (1) the Energy Technology Deployment Fund for the zero- or low-carbon energy technologies program, the advanced coal and sequestration technologies program, the cellulosic biomass ethanol and municipal solid waste technology deployment programs, and the advanced technology vehicles manufacturing incentive program; (2) the Climate Adaptation Fund for adaptation programs to address climate change impacts and for fish and wildlife conservation programs; and (3) the Energy Assistance Fund for the low-income home energy assistance program, the Weatherization Assistance Program for Low-Income Persons, and the rural energy assistance program.

Requires the President to establish an interagency group to review comparable action by foreign countries with respect to GHG emissions and to make recommendations with respect to foreign credits and international offset projects.

Authorizes the President to establish a program to distribute credits for the GHG mitigation benefits of offset projects outside the United States. Requires any U.S. importer of certain covered goods, as a condition of importation, to make a written declaration that the goods are accompanied by a sufficient number of international reserve allowances. Authorizes the President to establish a trading system of international reserve allowances for imported goods.

]]> Low Carbon Economy Act of 2007 Official Title as Introduced A bill to reduce greenhouse gas emissions from the production and use of energy, and for other purposes. Introduced in Senate IS Display Title Low Carbon Economy Act of 2007 Short Titles as Introduced Low Carbon Economy Act of 2007 Introduced in Senate 2007-07-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1766is/xml/BILLS-110s1766is.xml 2007-08-02 Sponsor introductory remarks on measure. (CR S10775, S10776) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.