3.0.0 2352 2023-01-11T13:38:52Z 2023-01-11T13:38:52Z Senate S 2018-01-29 115 ssfi00 Finance Committee Senate Standing Referred to 2018-01-30T00:23:25Z Healthy Climate and Family Security Act of 2018 115 4889 HR 2018-02-02 Referred to the Subcommittee on Environment. Identical bill CRS 2018-01-29 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S551-552) IntroReferral 2018-01-29 Introduced in Senate IntroReferral 10000 9 Library of Congress V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD N Environmental Protection Administrative law and regulatory procedures Air quality Civil actions and liability Climate change and greenhouse gases Coal Competitiveness, trade promotion, trade deficits Environmental Protection Agency (EPA) Environmental regulatory procedures Government information and archives Government trust funds International law and treaties International organizations and cooperation Licensing and registrations Mining Oil and gas Pollution liability Public contracts and procurement Tariffs User charges and fees Environmental Protection 00 2018-01-29 Introduced in Senate 2018-07-11T18:47:33Z Healthy Climate and Family Security Act of 2018

This bill amends the Internal Revenue Code to require the Department of the Treasury to establish a carbon trading program that caps the emissions of carbon dioxide (CO2) from crude oil, coal, and natural gas. Beginning in 2019, crude oil refineries, petroleum importers, coal mines, coal importers, and natural gas suppliers or processors must purchase carbon permits equivalent to the amount of CO2 that would be emitted by covered fuels. Treasury will auction these permits to those entities.

This bill establishes a declining cap on the quantity of permits issued to reduce CO2 emissions until 2050 when the permits issued represent an amount 80% below 2005 CO2 emission levels.

Treasury must issue permits for carbon capture and sequestration of CO2 from covered fuels.

This bill provides for the trading or sale of permits between entities, the banking by entities of permits for future years, and the borrowing by Treasury of permits from future years to stabilize permit prices.

Auction proceeds and penalties are returned to U.S. citizens lawfully present in the United States using the Healthy Climate Trust Fund established by this bill.

Treasury must impose fees on the import and pay fees for the export of carbon-intensive goods when the export country does not have equivalent measures to regulate greenhouse gases. Carbon-intensive goods are goods with an increased cost due to the regulation of greenhouse gases.

The Environmental Protection Agency must regulate within 10 years all sources of greenhouse gases that are anthropogenically emitted. This excludes gases attributable to the production of animals for food.

]]> Healthy Climate and Family Security Act of 2018 Display Title Healthy Climate and Family Security Act of 2018 Official Title as Introduced A bill to cap the emissions of greenhouse gases through a requirement to purchase carbon permits, to distribute the proceeds of such purchases to eligible individuals, and for other purposes. Introduced in Senate IS Short Titles as Introduced Healthy Climate and Family Security Act of 2018 Introduced in Senate 2018-01-29T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2352is/xml/BILLS-115s2352is.xml 2018-01-29 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S551-552) 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.