3.0.0 1874 2023-01-11T20:41:12Z 2023-01-11T20:41:12Z Senate S S 2007-07-25 110 ssev00 Environment and Public Works Committee Senate Standing Referred to 2007-07-25T21:25:01Z 2007-07-25 ssev00 Environment and Public Works Committee Senate Read twice and referred to the Committee on Environment and Public Works. IntroReferral 2007-07-25 Introduced in Senate IntroReferral 10000 9 Library of Congress L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA N G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2007-07-25 True L000035 Sen. Lincoln, Blanche L. [D-AR] BLANCHE LINCOLN D AR LAMBERT 2007-07-25 True W000154 Sen. Warner, John [R-VA] JOHN WARNER R VA WILLIAM 2007-07-25 True Environmental Protection Advice and consent of the Senate Carbon dioxide Climate change and greenhouse gases Congress Congressional reporting requirements Economic research Economics and Public Finance Emissions trading Executive reorganization Finance and Financial Sector Government Operations and Politics Governmental investigations Interest rates Presidential appointments Environmental Protection 00 2007-07-25 Introduced in Senate 2007-10-19T22:05:09Z Containing and Managing Climate Change Costs Efficiently Act - Establishes the Carbon Market Efficiency Board to: (1) analyze market information to promote understanding of the dynamics of each federal greenhouse gas (GHG) emission market; (2) gather information regarding the status of the markets; and (3) carry out cost relief measures if it determines that a federal GHG market poses significant harm to the U.S. economy.

Requires the Board, during the two-year period beginning on the date the initial federally established GHG market begins operation: (1) to study other markets for tradeable permits to emit covered GHGs; and (2) if it determines that the average daily closing price of GHG permits during a 180-day period exceeds the upper range of an estimate, to increase the quantity of permits that covered entities may borrow from their prescribed allocations for future years and take specified subsequent action.

Requires the Board to report to the President and Congress on the status of each federal GHG market, the economic effects of the markets, regional, industrial, and consumer responses to the markets, corrective measures that should be carried out to relieve excessive costs of the markets, and plans to compensate for those measures.

Authorizes the Board to carry out cost relief measures to ensure functioning, stable, and efficient markets for tradeable permits to emit GHGs beginning on the day after the expiration of the initial two-year period. Sets forth requirements for the Board to follow in carrying out the cost relief measures.

Limits the Board's authority, including prohibiting the Board from prescribing entity-level petitions for relief from the costs of a federal permit allocation or trading program.

Requires the Director of the Congressional Budget Office (CBO) to report to Congress on the projected price range at which GHG permits are expected to trade during the initial two-year period of the market.

]]> Containing and Managing Climate Change Costs Efficiently Act Official Title as Introduced A bill to provide for efficient containment and management of climate change costs. Introduced in Senate IS Display Title Containing and Managing Climate Change Costs Efficiently Act Short Titles as Introduced Containing and Managing Climate Change Costs Efficiently Act Introduced in Senate 2007-07-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1874is/xml/BILLS-110s1874is.xml 2007-07-25 Read twice and referred to the Committee on Environment and Public Works. 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.