110 HR 620 IH: Climate Stewardship Act of
U.S. House of Representatives
2007-01-22
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.
1.This Act may be cited as the
Climate Stewardship Act of
2007
.
2.The table of contents
for this Act is as follows:
Sec. 1. Short title.
Sec. 2. Table of contents.
Sec. 3. Definitions.
Title I—Market to reduce greenhouse gas emissions
Subtitle A—Tracking emissions
Sec. 101. National Greenhouse Gas Database and registry
established.
Sec. 102. Inventory of greenhouse gas emissions for covered
entities.
Sec. 103. Greenhouse gas reduction registration.
Sec. 104. Measurement and verification.
Subtitle B—Mandating emission reductions
Sec. 121. Covered entities must submit allowances for
emissions.
Sec. 122. Compliance.
Sec. 123. Exemption of source categories.
Sec. 124. Establishment of tradeable allowances.
Sec. 125. Penalties.
Subtitle C—Controlling compliance costs
Sec. 141. Trading.
Sec. 142. Banking.
Sec. 143. Borrowing against future reductions.
Sec. 144. Domestic offsets.
Sec. 145. International credits plan.
Subtitle D—Establishment and allocation of tradeable
allowances
Sec. 161. Determination of tradeable allowance
allocations.
Sec. 162. Provision of tradeable allowances.
Sec. 163. Ensuring target adequacy.
Sec. 164. Initial allocations for early participation and
accelerated participation.
Sec. 165. Bonus for accelerated participation.
Title II—Climate Change Credit Corporation
Sec. 201. Establishment.
Sec. 202. Purposes and functions.
Title III—Miscellaneous
Sec. 301. NOAA report on climate change effects; preparation
assistance.
Sec. 302. Adaptation technologies.
Sec. 303. Mitigating climate change’s impacts on the
poor.
Sec. 304. Wildlife conservation.
3.In this Act:
(1)The
term Administrator means the Administrator of the Environmental
Protection Agency.
(2)The
term baseline means the historic greenhouse gas emission levels of
an entity, as adjusted upward by the Administrator to reflect actual reductions
that are verified in accordance with—
(A)regulations
promulgated under section 101(c)(1); and
(B)relevant standards
and methods developed under this Act.
(3)Carbon dioxide
equivalentsThe term carbon dioxide equivalents
means, for each greenhouse gas, the amount of each such greenhouse gas that
makes the same contribution to global warming as one metric ton of carbon
dioxide, as determined by the Administrator.
(4)The term covered sectors means the electric
power, transportation, industrial, and commercial sectors, as such terms are
used in the Inventory.
(5)The term covered entity means an entity
(including a branch, department, agency, or instrumentality of Federal, State,
or local government) that—
(A)owns or controls a
source of greenhouse gas emissions in the electric power, industrial, or
commercial sector of the United States economy (as defined in the Inventory),
refines or imports refined petroleum products for use in transportation, or
produces or imports hydrofluorocarbons, perfluorocarbons, or sulfur
hexafluoride; and
(B)emits, from any
single facility owned by the entity, over 10,000 metric tons of greenhouse gas
per year, measured in units of carbon dioxide equivalents, or—
(i)refines or imports
refined petroleum products that, when combusted, will emit;
(ii)produces or
imports hydrofluorocarbons, perfluorocarbons, or sulfur hexafluoride that,
when used, will emit; or
(iii)produces or
imports other greenhouse gases that, when used, will emit,
over
10,000 metric tons of greenhouse gas per year, measured in units of carbon
dioxide equivalents.(6)The
term database means the National Greenhouse Gas Database
established under section 101.
(7)The term direct emissions means greenhouse
gas emissions by an entity from a facility that is owned or controlled by that
entity.
(8)The
term facility means a building, structure, or installation located
on any 1 or more contiguous or adjacent properties of an entity in the United
States.
(9)The term greenhouse gas means—
(A)carbon
dioxide;
(B)methane;
(C)nitrous
oxide;
(D)hydrofluorocarbons;
(E)perfluorocarbons;
or
(F)sulfur
hexafluoride.
(10)The term indirect emissions means
greenhouse gas emissions that are—
(A)a result of the
activities of an entity; but
(B)emitted from a
facility owned or controlled by another entity.
(11)The
term Inventory means the Inventory of U.S. Greenhouse Gas
Emissions and Sinks, prepared in compliance with the United Nations Framework
Convention on Climate Change Decision 3/CP.5.
(12)The
term leakage means—
(A)an increase in
greenhouse gas emissions by one facility or entity caused by a reduction in
greenhouse gas emissions by another facility or entity; or
(B)a decrease in
sequestration that is caused by an increase in sequestration at another
location.
(13)The
term permanence means the extent to which greenhouse gases that
are sequestered will not later be returned to the atmosphere.
(14)The
term registry means the registry of greenhouse gas emission
reductions and increases in sequestration established under section
101(b)(2).
(15)The
term Secretary means the Secretary of Commerce.
(16)
(A)The term sequestration means the long-term
capture, separation, isolation, or removal of greenhouse gases from the
atmosphere.
(B)The
term sequestration includes, as the Administrator determines
appropriate for carrying out this Act—
(i)agricultural and
conservation practices;
(ii)reforestation;
(iii)forest
preservation;
(iv)production of
cellulosic biomass crops; and
(v)any
other method of long-term capture, separation, isolation, or removal of
greenhouse gases from the atmosphere.
(C)The
term sequestration does not include—
(i)any
conversion of, or negative impact on, a native ecosystem; or
(ii)any
introduction of non-native species.
(17)The term source category means a process or
activity that leads to direct emissions of greenhouse gases, as listed in the
Inventory.
(18)The term stationary source means any source
of greenhouse gas emissions except those emissions resulting directly from an
engine for transportation purposes.
<enum>I</enum><header>Market to reduce
greenhouse gas emissions</header>
<subtitle id="HB20977B6415F4F609C2D20F2E39BC399"><enum>A</enum><header>Tracking
emissions</header>
<section id="HCA530D999FF74A2FB2C73510B320456E"><enum>101.</enum><header>National
Greenhouse Gas Database and registry established</header>
<subsection id="HAC89E554B7794C8D839E96824723C71D"><enum>(a)</enum><header>Establishment</header><text>As
soon as practicable after the date of enactment of this Act, the Administrator,
in coordination with the Secretary, the Secretary of Energy, the Secretary of
Agriculture, State governments, and private sector and nongovernmental
organizations, shall establish, operate, and maintain a database, to be known
as the <quote>National Greenhouse Gas Database</quote>, to collect, verify, and
analyze data on greenhouse gas emissions by entities.</text>
</subsection><subsection id="HBDD9D981EAB14D57BF00007EB82040CA"><enum>(b)</enum><header>National
Greenhouse Gas Database components</header><text>The database shall consist
of—</text>
<paragraph id="HC33644897E854BCD8C6280024C841D8F"><enum>(1)</enum><text>an inventory of
greenhouse gas emissions; and</text>
</paragraph><paragraph id="HAAD281B0DA7344AC8CFAA35CF156F051"><enum>(2)</enum><text>a
registry of greenhouse gas emission reductions and increases in
sequestrations.</text>
</paragraph></subsection><subsection id="H20E506F5ED61498E955122DC22811475"><enum>(c)</enum><header>Comprehensive
system</header>
<paragraph id="H9DE9F951FEA1474D966964F0C62DAF12"><enum>(1)</enum><header>In
general</header><text>Not later than 2 years after the date of enactment of
this Act, the Administrator shall promulgate regulations to implement a
comprehensive system for greenhouse gas emissions reporting, inventorying, and
reduction and sequestration registration.</text>
</paragraph><paragraph id="HB3093CF2EF584497A6131E4279BE97A0"><enum>(2)</enum><header>Requirements</header><text>The
Administrator shall ensure, to the maximum extent practicable, that—</text>
<subparagraph id="HC1370EB9312E45F7A9F3E436D0050FB"><enum>(A)</enum><text>the comprehensive
system described in paragraph (1) is designed to—</text>
<clause id="HF201DBC63204457F99075B2E4F9E2BDC"><enum>(i)</enum><text>maximize
completeness, transparency, and accuracy of data reported; and</text>
</clause><clause id="H878F5F6858624EF8A3042071DB9F4196"><enum>(ii)</enum><text>minimize costs
incurred by entities in measuring and reporting greenhouse gas emissions,
emission reductions, and sequestrations; and</text>
</clause></subparagraph><subparagraph id="HDBDA1BB717674E75BAE0B8E3C3A40092"><enum>(B)</enum><text>the regulations
promulgated under paragraph (1) establish procedures and protocols
necessary—</text>
<clause id="H9BE7C76317564B77B8A8F5A94B962125"><enum>(i)</enum><text>to
prevent the double-counting of greenhouse gas emissions, emission reductions,
or sequestrations reported by more than 1 reporting entity;</text>
</clause><clause id="H9E77BFE817094D83B9CEFEC913BBD009"><enum>(ii)</enum><text>to
provide for corrections to errors in data submitted to the database;</text>
</clause><clause id="HFF0A5FD2AB624C68813C64CC96E919DD"><enum>(iii)</enum><text>to
provide for adjustment to data by reporting entities that have had a
significant organizational change (including mergers, acquisitions, and
divestiture), in order to maintain comparability among data in the database
over time;</text>
</clause><clause id="H27FA8AE952E54262B0292761E9F422C0"><enum>(iv)</enum><text>to
provide for adjustments to reflect new technologies or methods for measuring or
calculating greenhouse gas emissions, emission reductions, or
sequestrations;</text>
</clause><clause id="HC6464FE6FFC0498E84EDDEC325D3DCCA"><enum>(v)</enum><text>to
account for changes in registration of ownership of emission reductions or
increases in sequestration resulting from a voluntary private transaction
between reporting entities;</text>
</clause><clause display-inline="no-display-inline" id="HAA9B73A80182452D9D00A927522489C6"><enum>(vi)</enum><text>to prevent a
covered entity from avoiding the requirements of this Act by reorganization
into multiple entities that are under common control; and</text>
</clause><clause id="HA113734CC1FD409ABF5DE69E6F74C496"><enum>(vii)</enum><text>to
clarify the responsibility for reporting in the case of any facility owned or
controlled by more than 1 entity.</text>
</clause></subparagraph></paragraph><paragraph id="HC678AB62A04C4842AAA1070093A90062"><enum>(3)</enum><header>Serial
numbers</header><text>Through regulations promulgated under paragraph (1), the
Administrator shall develop and implement a system that provides—</text>
<subparagraph id="H9FCF9E0D345641ED9F009BEF011C712C"><enum>(A)</enum><text>for the provision
of unique serial numbers to identify the registered emission reductions or
increases in sequestration made by an entity;</text>
</subparagraph><subparagraph id="H1C692ECB975F4241829D077FE85F77C7"><enum>(B)</enum><text>for the tracking
of the registered reductions or sequestrations associated with the serial
numbers; and</text>
</subparagraph><subparagraph id="HC1441CF2EC90431ABCD25D6C4CA60350"><enum>(C)</enum><text>for such action as
may be necessary to prevent counterfeiting of the registered reductions or
sequestrations.</text>
</subparagraph></paragraph></subsection></section><section id="H772ACBC353314D42B9378D3E38BD004D"><enum>102.</enum><header>Inventory of
greenhouse gas emissions for covered entities</header>
<subsection id="H1BA54446503B43C7927410EFDEDB70C1"><enum>(a)</enum><header>In
general</header><text>Not later than July 1st of each calendar year after 2011,
each covered entity shall submit to the Administrator a report that states, for
the preceding calendar year, the entity-wide greenhouse gas emissions in the
United States (as reported at the facility level), including—</text>
<paragraph id="H5645FB2DA95F475BB4E62F48269284F"><enum>(1)</enum><text>the total quantity
of direct emissions from stationary sources, including process and fugitive
emissions, expressed in units of carbon dioxide equivalents, except those
reported under paragraph (3);</text>
</paragraph><paragraph id="H1B9F0C8AE6B3456F8E23665BDD709751"><enum>(2)</enum><text>the amount of
petroleum products refined or refined petroleum products imported by the entity
for use in transportation and the amount of greenhouse gases, expressed in
units of carbon dioxide equivalents, that would be emitted when these products
are used for transportation, as determined by the Administrator under section
121(b);</text>
</paragraph><paragraph id="H0E249B6B15CF4C93941FA1B8FF4FA961"><enum>(3)</enum><text>the amount of
hydrofluorocarbons, perfluorocarbons, or sulfur hexafluoride, expressed in
units of carbon dioxide equivalents, that are produced or imported by the
entity and will ultimately be emitted in the United States, as determined by
the Administrator under section 121(d); and</text>
</paragraph><paragraph id="HA7A53C67E6964E2892987ED24264017E"><enum>(4)</enum><text>such other
categories of greenhouse gas emissions in the United States as the
Administrator determines in the regulations promulgated under section 101(c)(1)
may be practicable and useful for the purposes of this Act, such as indirect
emissions.</text>
</paragraph></subsection><subsection id="HD5C7C506202F41469DBE83BE4B26C11C"><enum>(b)</enum><header>Collection and
analysis of data</header><text>The Administrator shall collect and analyze data
reported under subsection (a) for use under this title.</text>
</subsection></section><section id="H0BD2E9C833BF453F910004E7AF9E63B"><enum>103.</enum><header>Greenhouse gas
reduction registration</header>
<subsection id="H838CA93AB80243629FA481E1BB3D3EC6"><enum>(a)</enum><header>In
general</header><text>Subject to the requirements described in subsection
(b)—</text>
<paragraph id="H6DC5E15D8D36462ABAE966C457B9DA6C"><enum>(1)</enum><text>a
covered entity may register greenhouse gas emission reductions and increases in
sequestration achieved after 1990 and before 2012 under this section;
and</text>
</paragraph><paragraph id="H4AA9B941F5394308A682D8D2D99BC031"><enum>(2)</enum><text>an entity that is
not a covered entity may register greenhouse gas emission reductions and
increases in sequestration achieved at any time since 1990 under this
section.</text>
</paragraph></subsection><subsection id="H4D6FCF6239464932A882E8CE8FE0D555"><enum>(b)</enum><header>Requirements</header>
<paragraph id="H10D10FC9DDA043FE878D29F7001EAB31"><enum>(1)</enum><header>In
general</header><text>The requirements referred to in subsection (a) are that
an entity (other than an entity described in paragraph (2)) shall—</text>
<subparagraph id="H2C43A30A622842F780DF061107D2DD80"><enum>(A)</enum><text>establish a
baseline; and</text>
</subparagraph><subparagraph id="H2759ED97D15B46BFAA14E05555F392C9"><enum>(B)</enum><text>submit the report
described in section 102(a)(1).</text>
</subparagraph></paragraph><paragraph id="H85F0FFBF48C149C99053474DCC28D700"><enum>(2)</enum><header>Requirements not
applicable to entities entering into certain agreements</header><text>An entity
that enters into an agreement with a participant in the registry for the
purpose of a carbon sequestration project may register greenhouse gas emission
reductions or sequestrations without being required to comply with the
requirements specified in paragraph (1), unless that entity is required to
comply with those requirements by reason of an activity other than the
agreement.</text>
</paragraph></subsection><subsection id="HC455588E219F464480C30483CDCE88D7"><enum>(c)</enum><header>Procedure</header>
<paragraph id="H89F28CC9996D4C0BA9476EFF81E50097"><enum>(1)</enum><header>Voluntary
reporting</header><text>An entity described in subsection (a) may submit to the
Administrator for inclusion in the registry—</text>
<subparagraph id="HE11E3AE2F97544EB8DADDA2C5983D1DD"><enum>(A)</enum><text>before January 1,
2012, data that relates to any activity that resulted in the net reduction of
the greenhouse gas emissions of the entity or an increase in sequestration by
the entity that were carried out during or after 1990 and before the
establishment of the database; and</text>
</subparagraph><subparagraph id="HE81ACF5AB9C14F98ABFE098D1674EB21"><enum>(B)</enum><text>with respect to
the calendar year preceding the calendar year in which the data is submitted,
data that relates to any project or activity that resulted in the net reduction
of the greenhouse gas emissions of the entity or a net increase in net
sequestration by the entity.</text>
</subparagraph></paragraph><paragraph id="H8E4E7EFC19BC41949CF43E9EA8E0F9DA"><enum>(2)</enum><header>Provision of
verification information by reporting entities</header><text>Each entity that
submits a report under section 102(a) or this subsection shall provide
information sufficient for the Administrator to verify, in accordance with
measurement and verification methods and standards developed under section 104,
that the report—</text>
<subparagraph id="H78370DB7A5374F2F886B9F9167A89071"><enum>(A)</enum><text>has been
accurately reported; and</text>
</subparagraph><subparagraph id="H1D95E016240D4F33961F20CECA69FA6C"><enum>(B)</enum><text>in the case of
each voluntary report under paragraph (1), represents—</text>
<clause id="H3FFDED17AEA44FBAB83B7EBD6EB8D17"><enum>(i)</enum><text>actual reductions
in greenhouse gas emissions relative to historic emission levels of the entity;
or</text>
</clause><clause id="H9D53D48C56654182B255B41435F9EC1"><enum>(ii)</enum><text>actual increases
in net sequestration.</text>
</clause></subparagraph></paragraph><paragraph id="H93A8FDCDB03347B0AAC9B2166D0012B2"><enum>(3)</enum><header>Failure to
submit report</header><text>An entity that submits data for registration of
emission reductions or increases in sequestration in the registry and that
fails to submit a report required under this subsection shall be prohibited
from using, or allowing another entity to use, its registered emissions
reductions or increases in sequestration to satisfy the requirements of section
121.</text>
</paragraph><paragraph id="H93E17C855A164C1E81D7098B6C40287B"><enum>(4)</enum><header>Independent
third-party verification</header><text>To meet the requirements of this section
and section 104, an entity that submits a report under this section may—</text>
<subparagraph id="H6E3D12BF09254527B76DDE06FD49638"><enum>(A)</enum><text>obtain independent
third-party verification; and</text>
</subparagraph><subparagraph id="H25A4BB50A037464DA9DE2FB93FB8001B"><enum>(B)</enum><text>present the
results of the third-party verification to the Administrator.</text>
</subparagraph></paragraph><paragraph id="H759FF00641E14797B0B2E9BC86201BA2"><enum>(5)</enum><header>Availability of
data</header>
<subparagraph id="HA329602008914B58B45D995E079CD3F0"><enum>(A)</enum><header>In
general</header><text>The Administrator shall ensure that information in the
database is—</text>
<clause id="HA1E4C7C5C8EC4F33B0A8BCBD3ED3FFE"><enum>(i)</enum><text>published;
and</text>
</clause><clause id="H4D2AEED81DE843B0A9B13D52444C6B36"><enum>(ii)</enum><text>accessible to the
public, including in electronic format on the Internet.</text>
</clause></subparagraph><subparagraph id="HE725F7DE61854171AC5CFA70FA1DF787"><enum>(B)</enum><header>Exception</header><text>Subparagraph
(A) shall not apply in any case in which the Administrator determines that
publishing or otherwise making available information described in that
subparagraph—</text>
<clause id="HA785DB6C01E447F28F8603638BA3B4DE"><enum>(i)</enum><text>poses a risk to
national security; or</text>
</clause><clause id="H78EE01DA860A4DFF88002877A966C00"><enum>(ii)</enum><text>discloses
confidential business information that can not be derived from information that
is otherwise publicly available and that would cause competitive harm if
published.</text>
</clause></subparagraph></paragraph><paragraph id="HD802D0835A164740974600BDB200C925"><enum>(6)</enum><header>Data
infrastructure</header><text>The Administrator shall ensure, to the maximum
extent practicable, that the database uses, and is integrated with, Federal,
State, and regional greenhouse gas data collection and reporting
systems.</text>
</paragraph><paragraph id="HAF884B3B348249F78251E7A51F25A1B8"><enum>(7)</enum><header>Additional
issues to be considered</header><text>In promulgating the regulations under
section 101(c)(1) and implementing the database, the Administrator shall take
into consideration a broad range of issues involved in establishing an
effective database, including—</text>
<subparagraph id="HBE5C2C781A0B4BF5A24956ABD0F3503B"><enum>(A)</enum><text>the data and
information systems and measures necessary to identify, track, and verify
greenhouse gas emissions in a manner that will encourage private sector trading
and exchanges;</text>
</subparagraph><subparagraph id="HE4FD56D26FD24E15A71F92C37E26841C"><enum>(B)</enum><text>the greenhouse gas
reduction and sequestration measurement and estimation methods and standards
applied in other countries, as applicable or relevant;</text>
</subparagraph><subparagraph id="HCF657CC9DC374C048493A45B6944C98E"><enum>(C)</enum><text>the extent to
which available data on fossil fuels, greenhouse gas emissions, and greenhouse
gas production, refining, and importation are adequate to implement the
database; and</text>
</subparagraph><subparagraph id="H090A2D2A65254C13A4C7D5BDAC9E4E5F"><enum>(D)</enum><text>the differences
in, and potential uniqueness of, the facilities, operations, and business and
other relevant practices of persons and entities in the private and public
sectors that may be expected to participate in the database.</text>
</subparagraph></paragraph></subsection><subsection id="H60F14E779FA14047BA1C17C571C5F7FF"><enum>(d)</enum><header>Annual
report</header><text>The Administrator shall publish an annual report
that—</text>
<paragraph id="H5EADDD015F794793965387D08C156800"><enum>(1)</enum><text>describes the
total greenhouse gas emissions, emission reductions, and increases in
sequestration reported to the database during the year covered by the
report;</text>
</paragraph><paragraph id="H17AD5EBB522C4395A0F8461705E53133"><enum>(2)</enum><text>provides
entity-by-entity and sector-by-sector analyses of the emissions, emission
reductions, and increases in sequestration reported;</text>
</paragraph><paragraph id="H05B4782E029B45618B28E8D8D05788C9"><enum>(3)</enum><text>describes the
atmospheric concentrations of greenhouse gases;</text>
</paragraph><paragraph id="HA3418E6C49784671876B46216931C6F"><enum>(4)</enum><text>provides a
comparison of current and past atmospheric concentrations of greenhouse gases;
and</text>
</paragraph><paragraph id="HE5E842388E494DBD91377352EFB35C45"><enum>(5)</enum><text>describes the
activity during the year covered by the report in the trading of greenhouse gas
emission allowances.</text>
</paragraph></subsection></section><section id="H64FD9437BDD944D38659A1F2004DDE88"><enum>104.</enum><header>Measurement and
verification</header>
<subsection id="HEE03DD13AF02487D829B2BFC24D6DCA9"><enum>(a)</enum><header>Methods and
standards</header>
<paragraph id="H0D22DA20926E4E949ED71195F7FD3908"><enum>(1)</enum><header>In
general</header><text>Not later than 1 year after the date of enactment of this
Act, the Administrator shall establish by rule, in coordination with the
Secretary, the Secretary of Energy, and the Secretary of Agriculture,
comprehensive measurement and verification methods and standards to ensure a
consistent and technically accurate record of greenhouse gas emissions,
emission reductions, sequestration, and atmospheric concentrations for use in
the registry.</text>
</paragraph><paragraph id="HEC1BCC8F69274354A39EA0664F31047D"><enum>(2)</enum><header>Requirements</header><text>The
methods and standards established under paragraph (1) shall include—</text>
<subparagraph id="H120684DB59054CBDADC62B10EEB56547"><enum>(A)</enum><text>a requirement that
an entity submitting data for the database use a continuous emissions
monitoring system, or another system of measuring emissions, emission
reductions, or increases in sequestration that is determined by the
Administrator to provide information with precision, reliability,
accessibility, and timeliness similar to that provided by a continuous
emissions monitoring system where technologically feasible;</text>
</subparagraph><subparagraph id="H0DBC1D308DF0482FB0BD51D2BDF2A7C6"><enum>(B)</enum><text>establishment of
standardized measurement and verification practices for reports made by all
entities participating in the registry, taking into account—</text>
<clause id="H10BAC7B346F645C9A6525D1FAF6005AD"><enum>(i)</enum><text>protocols and
standards in use by entities requiring or desiring to participate in the
registry as of the date of development of the methods and standards under
paragraph (1);</text>
</clause><clause id="HE1D325C639854400961CF460006F6300"><enum>(ii)</enum><text>boundary issues,
such as leakage;</text>
</clause><clause id="H8CA0CED928924038AD968FBA12BBECCA"><enum>(iii)</enum><text display-inline="yes-display-inline">avoidance of double counting of greenhouse
gas emissions, emission reductions, and increases in sequestration; and</text>
</clause><clause id="H4F1BE2A9BCE54A4E8274F6CCCF86512D"><enum>(iv)</enum><text>such other
factors as the Administrator, in consultation with the Secretary, the Secretary
of Energy, and the Secretary of Agriculture, determines to be
appropriate;</text>
</clause></subparagraph><subparagraph id="H56E397FBED754CF9B32C658E8C354643"><enum>(C)</enum><text>establishment of
methods of—</text>
<clause id="HB62CE45DFFFE4FBFAD74BC11CD31A32F"><enum>(i)</enum><text>estimating
greenhouse gas emissions, for those cases in which the Administrator determines
that methods of monitoring or measuring such emissions with precision,
reliability, accessibility, and timeliness similar to that provided by a
continuous emissions monitoring system are not technologically feasible at
present; and</text>
</clause><clause id="HDDC0489E0DF94980BAEA50291DD8F19D"><enum>(ii)</enum><text>reporting the
accuracy of such estimations;</text>
</clause></subparagraph><subparagraph id="H54BFC066C451450FB09E150032877BBB"><enum>(D)</enum><text>establishment of
measurement and verification standards applicable to actions taken to reduce or
sequester greenhouse gas emissions;</text>
</subparagraph><subparagraph id="HE60D943669D64E418801904E6333A066"><enum>(E)</enum><text>in coordination
with the Secretary of Agriculture, standards to measure the results of the use
of carbon sequestration, including—</text>
<clause id="H8920E9F6BD8848CA9F39B7A9FBA371B6"><enum>(i)</enum><text>soil
carbon sequestration practices;</text>
</clause><clause id="HFF59F337775047B2A946BFAD09DCF719"><enum>(ii)</enum><text>forest
preservation and reforestation activities that adequately address the issues of
permanence, leakage, and verification; and</text>
</clause><clause id="H7A094A0D865C4951AE54EAACE9E35F0"><enum>(iii)</enum><text>production of
cellulosic biomass crops;</text>
</clause></subparagraph><subparagraph id="H5F555CBB0EFA4AC090009791CA3D1E40"><enum>(F)</enum><text>establishment of
standards for obtaining the Administrator’s approval of the suitability of
geological storage sites that include evaluation of both the geology of the
site and the entity’s capacity to manage the site;</text>
</subparagraph><subparagraph id="H6A8EEB53F8094DCDA9FE155C2FFF006B"><enum>(G)</enum><text>establishment of
other features that, as determined by the Administrator, will allow entities to
adequately establish a fair and reliable measurement and reporting system;
and</text>
</subparagraph><subparagraph id="HA657984631AC474AB66F42619845D874"><enum>(H)</enum><text>establishment of
such other measurement and verification standards as the Administrator, in
consultation with the Secretary of Agriculture, the Secretary, and the
Secretary of Energy, determines to be appropriate.</text>
</subparagraph></paragraph></subsection><subsection id="H2DAE652B22044D32875993EA7464FEA4"><enum>(b)</enum><header>Public
participation</header><text>The Administrator shall make available to the
public for comment, in draft form and for a period of at least 90 days, the
methods and standards developed under subsection (a) before issuing final
regulations under this section.</text>
</subsection><subsection id="HFF8DCAAB8B65461F97E8069800131588"><enum>(c)</enum><header>Experts and
consultants</header>
<paragraph id="H497587FF55044AC898C331A9B0005900"><enum>(1)</enum><header>In
general</header><text>The Administrator may obtain the services of experts and
consultants in the private and nonprofit sectors for the purpose of carrying
out this section in accordance with <external-xref legal-doc="usc" parsable-cite="usc/5/3109">section 3109</external-xref> of title 5, United States
Code, in the areas of greenhouse gas measurement, certification, and emission
trading.</text>
</paragraph><paragraph id="H702D797F446E442EBBAB782BAEFD53F"><enum>(2)</enum><header>Available
arrangements</header><text>In obtaining any service described in paragraph (1),
the Administrator may use any available grant, contract, cooperative agreement,
or other arrangement authorized by law.</text>
</paragraph></subsection><subsection id="H4C6B462438E6450789D3257B1CC7BB15"><enum>(d)</enum><header>Review and
revision</header><text>The Administrator shall periodically review, and revise
as necessary, the methods and standards developed under subsection (a).</text>
</subsection></section></subtitle><subtitle id="HECF7E8AA19BD486DB9897EA8D4DE3814"><enum>B</enum><header>Mandating emission
reductions</header>
<section id="HEF7394B016D244B3BB48C0EBB7EDB00"><enum>121.</enum><header>Covered entities
must submit allowances for emissions</header>
<subsection id="H47C149335E1048CEAF2BD07D728ECA46"><enum>(a)</enum><header>In
general</header><text>Beginning with calendar year 2012—</text>
<paragraph id="HB2C0936B752044CE8025DDD9BB00633"><enum>(1)</enum><text>each covered entity
in the electric power, industrial, and commercial sectors shall submit to the
Administrator one tradeable allowance for every metric ton of greenhouse gases,
measured in units of carbon dioxide equivalents, that it emits from stationary
sources, except those described in paragraph (2);</text>
</paragraph><paragraph id="H7A035703154A48619E712BEAF14DCE80"><enum>(2)</enum><text>each producer or
importer of hydrofluorocarbons, perfluorocarbons, or sulfur hexafluoride that
is a covered entity shall submit to the Administrator one tradeable allowance
for every metric ton of hydrofluorocarbons, perfluorocarbons, or sulfur
hexafluoride, measured in units of carbon dioxide equivalents, that it produces
or imports and that are deemed under subsection (d) to be emitted in the United
States; and</text>
</paragraph><paragraph id="H3377609C61E54F5CB2DDBF06EDABE297"><enum>(3)</enum><text>each petroleum
product refiner or importer that is a covered entity shall submit one tradeable
allowance for every unit of petroleum product it sells that will produce one
metric ton of greenhouse gases when used for transportation, measured in units
of carbon dioxide equivalents, as determined by the Administrator under
subsection (b).</text>
</paragraph></subsection><subsection id="H4EA3347842A047F78F65A9A3EDDF9E2"><enum>(b)</enum><header>Determination of
Transportation sector amount</header><text>For the transportation sector, the
Administrator shall determine the amount of greenhouse gases, measured in units
of carbon dioxide equivalents, that will be deemed to be emitted when petroleum
products are used for transportation.</text>
</subsection><subsection commented="no" id="HE014F538A8D94F219B741F00123219AF"><enum>(c)</enum><header>Exception for
certain deposited emissions</header><text>Notwithstanding subsection (a), a
covered entity is not required to submit a tradeable allowance for any amount
of greenhouse gas that would otherwise have been emitted from a facility under
the ownership or control of that entity if—</text>
<paragraph commented="no" id="HC3110C53189148ADB243D0C5AC67B84C"><enum>(1)</enum><text>the emission is
deposited in a geological storage facility approved by the Administrator
described in section 104(a)(2)(F); and</text>
</paragraph><paragraph commented="no" id="HE16561A3CF434A21BF276C48E7D7BCD0"><enum>(2)</enum><text>the entity agrees
to submit tradeable allowances for any portion of the deposited emission that
is subsequently emitted from that facility.</text>
</paragraph></subsection><subsection id="H6EE337FAE0D14105A1556992559400ED"><enum>(d)</enum><header>Determination of
hydrofluorocarbon, perfluorocarbon, and sulfur hexafluoride
amount</header><text>The Administrator shall determine the amounts of
hydrofluorocarbons, perfluorocarbons, or sulfur hexafluoride, measured in units
of carbon dioxide equivalents, that will be deemed to be emitted for purposes
of this Act.</text>
</subsection><subsection id="HE5162F8CB41C4D1600567B856B126200"><enum>(e)</enum><header>Allowances
retired</header><text>Upon receiving a tradeable allowance pursuant to a
requirement under this subtitle, the Administrator shall retire the serial
number assigned to that allowance.</text>
</subsection></section><section id="HF795466DB36244E8B57D99AEE3248F28"><enum>122.</enum><header>Compliance</header>
<subsection id="H93D909573D574A9B8C9E359393B629F4"><enum>(a)</enum><header>Source of
tradeable allowances used</header><text>A covered entity may use a tradeable
allowance to meet the requirements of this subtitle without regard to whether
the tradeable allowance was allocated to it under subtitle D or acquired from
another entity or the Climate Change Credit Corporation established under
section 201.</text>
</subsection><subsection id="HE129368E504748C88CB397727EC6B7EC"><enum>(b)</enum><header>Verification by
Administrator</header><text>At various times during each year, the
Administrator shall determine whether each covered entity has met the
requirements of this subtitle. In making that determination, the Administrator
shall take into account the tradeable allowances submitted by the covered
entity to the Administrator.</text>
</subsection></section><section commented="no" id="H3B5296F3472E4099969C07D5C29BE1E9"><enum>123.</enum><header>Exemption of
source categories</header>
<subsection commented="no" id="H34E5F37FDD9343F1989FC0B33E006121"><enum>(a)</enum><header>In
general</header><text>The Administrator may grant an exemption from the
requirements of this subtitle to a source category if the Administrator
determines, after public notice and comment, that it is not feasible to measure
or estimate emissions from that source category, until such time as measurement
or estimation becomes feasible.</text>
</subsection><subsection commented="no" id="HEFCFF6DCD8FF4C2FB72B50E63D0019F7"><enum>(b)</enum><header>Reduction of
limitations</header><text>If the Administrator exempts a source category under
subsection (a), the Administrator shall also reduce the total tradeable
allowances under section 124(a)(1), (2), (3), or (4), as applicable, by the
amount of greenhouse gas emissions that the exempted source category emitted in
calendar year 2000, as identified in the 2000 Inventory.</text>
</subsection><subsection commented="no" id="H90ECEB1214DF40528C0003B15BBDC39E"><enum>(c)</enum><header>Limitation on
exemption</header><text>The Administrator may not grant an exemption under
subsection (a) to carbon dioxide produced from fossil fuel.</text>
</subsection></section><section id="H992DEB8AE35A49789BA7E5288EDB2900"><enum>124.</enum><header>Establishment
of tradeable allowances</header>
<subsection id="H8B70D5E6041E407999BDED90FB7B8673"><enum>(a)</enum><header>In
general</header><text>The Administrator shall promulgate regulations to
establish tradeable allowances, denominated in units of carbon dioxide
equivalents, as follows:</text>
<paragraph id="HB92BE0EF5A00494C84A9688EB7734F60"><enum>(1)</enum><text>For the first 8
calendar years beginning after 2011, the number of tradeable allowances shall
be equal to 6,150 million metric tons, measured in units of carbon dioxide
equivalents, reduced by the amount of emissions of greenhouse gases in calendar
year 2012 from non-covered entities, as calculated by the Administrator.</text>
</paragraph><paragraph id="H4C1A87FF6A7044CDA26D748160A0C7C8"><enum>(2)</enum><text display-inline="yes-display-inline">For the first 10 calendar years beginning
after 2019, the number of tradeable allowances shall be equal to 5,232 million
metric tons, measured in units of carbon dioxide equivalents, reduced by the
amount of emissions of greenhouse gases in calendar year 2020 from non-covered
entities, as calculated by the Administrator.</text>
</paragraph><paragraph id="HA3AB59C0CFF94FD1BD00697494DB4FB"><enum>(3)</enum><text display-inline="yes-display-inline">For the first 10 calendar years beginning
after 2029, the number of tradeable allowances shall be equal to 3,858 million
metric tons, measured in units of carbon dioxide equivalents, reduced by the
amount of emissions of greenhouse gases in calendar year 2030 from non-covered
entities, as calculated by the Administrator.</text>
</paragraph><paragraph id="HD6D282D0E40C4847B6EFCA82CE31BACD"><enum>(4)</enum><text display-inline="yes-display-inline">For calendar years beginning after 2049,
the number of tradeable allowances shall be equal to 1,504 million metric tons,
measured in units of carbon dioxide equivalents, reduced by the amount of
emissions of greenhouse gases in each such calendar year from non-covered
entities, as calculated by the Administrator.</text>
</paragraph></subsection><subsection id="H23826192B4524301AC94B22B7E7000A1"><enum>(b)</enum><header>Serial
numbers</header><text>The Administrator shall assign a unique serial number to
each tradeable allowance established under subsection (a), and shall take such
action as may be necessary to prevent counterfeiting of tradeable
allowances.</text>
</subsection><subsection id="H0FAB33BE0CAA4C559E9EAE00A9100EA"><enum>(c)</enum><header>Nature of
tradeable allowances</header><text>A tradeable allowance is not a property
right, and nothing in this title or any other provision of law limits the
authority of the United States to terminate or limit a tradeable
allowance.</text>
</subsection><subsection id="HD00015ECFB1B4BF59663D47DACFB0189"><enum>(d)</enum><header>Non-covered
entity</header><text>For purposes of this section only, the term
<term>non-covered entity</term> means an entity that—</text>
<paragraph id="H92E2DC98B79B4102B7B3C58779609614"><enum>(1)</enum><text>owns or controls a
source of greenhouse gas emissions in the electric power, industrial, or
commercial sector of the United States economy (as defined in the Inventory),
refines or imports refined petroleum products for use in transportation, or
produces or imports hydrofluorocarbons, perfluorocarbons, or sulfur
hexafluoride; and</text>
</paragraph><paragraph id="HC95D3635DE5D464592A03A1592CFC3C"><enum>(2)</enum><text>is
not a covered entity.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H9A1BAA40C25442B3AFF6EF22FCD2465D" section-type="subsequent-section"><enum>125.</enum><header>Penalties</header><text display-inline="no-display-inline">Any covered entity that fails to meet the
requirements of this subtitle for a year shall be liable for a civil penalty,
payable to the Administrator, equal to thrice the market value (determined as
of the last day of the year at issue) of the tradeable allowances that would be
necessary for that covered entity to meet those requirements on the date that
the tradeable allowances were due.</text>
</section></subtitle><subtitle id="H768B1226F00D40BABFD98C3546859DB4"><enum>C</enum><header>Controlling
compliance costs</header>
<section id="H4C7679575F6B41659236EF9764E70097"><enum>141.</enum><header>Trading</header>
<subsection id="H32D4BEFCEF154AA2B8554D5538415E07"><enum>(a)</enum><header>In
general</header><text>Tradeable allowances may be sold, exchanged, purchased,
retired, or used as provided in this Act.</text>
</subsection><subsection id="H3D21FE30F9904D2F8656FD5C21F6049"><enum>(b)</enum><header>Intersector
trading</header><text>Covered entities may purchase or otherwise acquire
tradeable allowances from other covered sectors to satisfy the requirements of
this title, in addition to those from within their own sector.</text>
</subsection></section><section id="H64F2FF19260B4DCA82E335C6ECFC61B"><enum>142.</enum><header>Banking</header><text display-inline="no-display-inline">Tradeable allowances not used to satisfy the
requirements of this title in a year may be used to satisfy the requirements in
a later year.</text>
</section><section id="H68688D8A26DC4EAB8F43F9F59CB0BAEB"><enum>143.</enum><header>Borrowing
against future reductions</header>
<subsection id="HA745632D87FA4EBFBF61A503E740E943"><enum>(a)</enum><header>In
general</header><text>The Administrator shall establish a program under which a
covered entity may—</text>
<paragraph id="HEFDE65C69E8F483CBFB095AE6E40DD5D"><enum>(1)</enum><text>receive a credit
in the current calendar year for anticipated reductions in emissions in a
future calendar year; and</text>
</paragraph><paragraph id="H408ADB9C7136466E0078FAE7CF2F8FFF"><enum>(2)</enum><text>use the credit in
lieu of a tradeable allowance to meet the requirements of this title for the
current calendar year, subject to the limitation imposed by subsection
(b).</text>
</paragraph></subsection><subsection id="HCE0DAC16B9F64A55B76271D1FDA2E91F"><enum>(b)</enum><header>Determination of
tradeable allowance credits</header><text>The Administrator may make credits
available under subsection (a) only for anticipated reductions in emissions
that—</text>
<paragraph id="H91321D3BB96B4D1EACE699CBAFEAE9AB"><enum>(1)</enum><text>are attributable
to the realization of capital investments in equipment, the construction,
reconstruction, or acquisition of facilities, or the deployment of new
technologies—</text>
<subparagraph id="H3A2ABF3A79CD4E6BA81340DBA33BC831"><enum>(A)</enum><text>for which the
covered entity has executed a binding contract and secured, or applied for, all
necessary permits and operating or implementation authority;</text>
</subparagraph><subparagraph id="HD784ECDA60C74AC2939E1FB64C7B14AE"><enum>(B)</enum><text>that will not
become operational within the current calendar year; and</text>
</subparagraph><subparagraph id="H97EDF93D2C4C413E9C86C02C413BFC1C"><enum>(C)</enum><text>that will become
operational and begin to reduce emissions from the covered entity within 5
years after the year in which the credit is used; and</text>
</subparagraph></paragraph><paragraph id="HB6961A3CE1AB4AE994ADF0C5D9E3A293"><enum>(2)</enum><text>will be realized
within 5 years after the year in which the credit is used.</text>
</paragraph></subsection><subsection id="HF468FF4B344C4E1CB6046C96F4D1C917"><enum>(c)</enum><header>Carrying
cost</header><text>If a covered entity uses a credit under this section to meet
the requirements of this title for a calendar year (in this subsection referred
to as the use year), the tradeable allowance requirement for the year from
which the credit was taken (in this subsection referred to as the source year)
shall be increased by an amount equal to—</text>
<paragraph id="H7002D7AC13694E979B06F1522D5F4DBF"><enum>(1)</enum><text>10 percent for
each credit borrowed from the source year; multiplied by</text>
</paragraph><paragraph id="H53EAEB13539D406FAA9549BF00BBAAB3"><enum>(2)</enum><text>the number of
years after the use year that the source year occurs.</text>
</paragraph></subsection><subsection id="HEFC34B0BE14447BCB31748946E07892B"><enum>(d)</enum><header>Maximum
borrowing period</header><text>A credit from a year beginning more than 5 years
after the current year may not be used to meet the requirements of this title
for the current year.</text>
</subsection><subsection commented="no" id="HAD2EF55FCA76485A9123A358AD458D28"><enum>(e)</enum><header>Failure To
achieve reductions generating credit</header><text>If a covered entity that
uses a credit under this section fails to achieve the anticipated reduction for
which the credit was granted for the year from which the credit was taken,
then—</text>
<paragraph commented="no" id="HDC48028627B34C6E8D1EDB004682E611"><enum>(1)</enum><text>the covered
entity’s requirements under this Act for that year shall be increased by the
amount of the credit, plus the amount determined under subsection (c);</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H9A923F84F2A74368929119DCB7E7700"><enum>(2)</enum><text>any tradeable
allowances submitted by the covered entity for that year shall be counted first
against the increase in those requirements; and</text>
</paragraph><paragraph commented="no" id="HE75ACF274F564931003BC1BF2DF9FF34"><enum>(3)</enum><text>the covered entity
may not use credits under this section to meet the increased
requirements.</text>
</paragraph></subsection></section><section id="H0679C63FF88242D689B8CF922B683F17"><enum>144.</enum><header>Domestic
offsets</header>
<subsection id="H3CB695E16481445195009E6CF0CED99D"><enum>(a)</enum><header>Alternative
means of compliance</header><text>A covered entity may satisfy up to 15 percent
of its total allowance submission requirement under section 121 by any
combination of the following:</text>
<paragraph id="HF38F87CECC4C4162B8B5B929ABF72C04"><enum>(1)</enum><text>Submitting
tradeable allowances from another nation’s market in greenhouse gas emissions
if—</text>
<subparagraph id="HFD39999EB3054D85A356AD3754EC00B7"><enum>(A)</enum><text>the Administrator
determines that the other nation’s system for trading in greenhouse gas
emissions is complete, accurate, and transparent and reviews that determination
at least once every 5 years;</text>
</subparagraph><subparagraph id="H168374C38D4940B09857396E31DA207"><enum>(B)</enum><text>the other nation
has adopted enforceable limits on its greenhouse gas emissions which the
tradeable allowances were issued to implement; and</text>
</subparagraph><subparagraph id="H55B2CA29CCBD48AABE50AA40D30552B6"><enum>(C)</enum><text>the covered entity
certifies that the tradeable allowance has been retired unused in the other
nation’s market.</text>
</subparagraph></paragraph><paragraph id="H3402C4F4F32D4D60B412707C95218EBD"><enum>(2)</enum><text>Submitting a
registered net increase in sequestration, as registered in the database,
adjusted, if necessary, to comply with the accounting standards and methods
described in subsection (c). An increase in sequestration submitted under this
paragraph need not have been registered by the covered entity submitting
it.</text>
</paragraph><paragraph id="HBD33845BDEED48BF00ED914BEF825E6E"><enum>(3)</enum><text>Submitting a
greenhouse gas emissions reduction (other than a registered net increase in
sequestration) that was registered in the database by a person that is not a
covered entity.</text>
</paragraph><paragraph id="HD83CBA288AB14B67A783EE2C74DB64D0"><enum>(4)</enum><text>Submitting credits
obtained by the submitting covered entity from the Administrator under section
143 or section 145.</text>
</paragraph></subsection><subsection id="H763F0FC353BA447A9B58758244B9BCF4"><enum>(b)</enum><header>Dedicated
program for sequestration in agricultural soils</header><text>If a covered
entity satisfies a full 15 percent of its total allowance submission
requirements pursuant to subsection (a), it shall satisfy up to 1.5 percent of
its total allowance submission requirement by submitting registered net
increases in sequestration in agricultural soils, as registered in the
database, adjusted, if necessary, to comply with the accounting standards and
methods described in subsection (c).</text>
</subsection><subsection display-inline="no-display-inline" id="HB87214CAAD45443385B849DB3720C233"><enum>(c)</enum><header>Sequestration
accounting</header>
<paragraph id="H520CB0FC95E64DC2A5330800B28B6D07"><enum>(1)</enum><header>Sequestration
accounting</header><text>If a covered entity uses a registered net increase in
sequestration to satisfy the requirements of section 121 for any year, that
covered entity shall submit information to the Administrator every 5 years
thereafter sufficient to allow the Administrator to determine, using the
methods and standards created under section 104, whether that net increase in
sequestration still exists. The covered entity shall offset any loss of
sequestration by submitting additional tradeable allowances of equivalent
amount in the calender year following that determination.</text>
</paragraph><paragraph id="H083CBC1D49324CE8B73D5E651E0056E7"><enum>(2)</enum><header>Regulations
required</header><text>The Administrator, in coordination with the Secretary of
Agriculture, the Secretary of Energy, and the Secretary, shall issue
regulations establishing the sequestration accounting rules for all classes of
sequestration projects.</text>
</paragraph><paragraph id="H6D9CE12D060D4C3AB0CF192714DA03BB"><enum>(3)</enum><header>Criteria for
regulations</header><text>In issuing regulations under this subsection, the
Administrator shall use the following criteria:</text>
<subparagraph id="H0270E952CD9B4572AC119DDDE1B39170"><enum>(A)</enum><text>If the range of
possible amounts of net increase in sequestration for a particular class of
sequestration project is not more than 10 percent of the median of that range,
the amount of sequestration credited shall be equal to the median value of that
range.</text>
</subparagraph><subparagraph id="H4001B2B90C254295BA117586C3268B48"><enum>(B)</enum><text>If the range of
possible amounts of net increase in sequestration for a particular class of
sequestration project is more than 10 percent of the median of that range, the
amount of sequestration awarded shall be equal to the fifth percentile of that
range.</text>
</subparagraph><subparagraph id="HF44777A84EE3427784A24F5126268328"><enum>(C)</enum><text>The regulations
shall include procedures for accounting for potential leakage from
sequestration projects and for ensuring that any registered increase in
sequestration is in addition that which would have occurred if this Act had not
been enacted.</text>
</subparagraph></paragraph><paragraph id="H30AC229BE865449794FEDC299D99A06C"><enum>(4)</enum><header>Updates</header><text>The
Administrator shall update the sequestration accounting rules for every class
of sequestration project at least once every 5 years.</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="H69E3741DBD774FA6B1BB8800EEA36DB7" section-type="subsequent-section"><enum>145.</enum><header>International
credits plan</header>
<subsection id="H86E81B22B4664B7099C2FCF34BF722FB"><enum>(a)</enum><header>Establishment</header><text>The
Administrator shall establish a program the purposes of which are—</text>
<paragraph id="H59A41141F5CE4D5EBB172CA56FD097EB"><enum>(1)</enum><text>to assist
developing countries in achieving sustainable development and in contributing
to the objective of reducing the greenhouse gas emissions; and</text>
</paragraph><paragraph id="H067EF0F430684A3FBD6CA5713D1FDB2B"><enum>(2)</enum><text>to assist covered
entities in achieving compliance with the requirements of section 121.</text>
</paragraph></subsection><subsection id="H23E7AA986D2F4CE4814D53A3C17EE4C1"><enum>(b)</enum><header>Program
Components</header>
<paragraph id="H4A82C99E081348D4B150C3E9E41BAD2"><enum>(1)</enum><header>In
general</header><text>The program shall provide for the earning of tradable
allowances by covered entities from project activities in developing countries
resulting in certified emission reductions. The Administrator shall ensure
tradability of emission reductions earned under this program with reductions
earned under other similar international programs.</text>
</paragraph><paragraph id="HD6A5897EA99C4CCCBDA09BF5245DE46"><enum>(2)</enum><header>Approval criteria
and review process</header><text>By no later than 2011, the Administrator
shall—</text>
<subparagraph id="HC79B92D6DA0B4779A96812A4AFA9BBF"><enum>(A)</enum><text>develop criteria
for the approval of projects submitted for review; and</text>
</subparagraph><subparagraph id="H91274009810B4EFCAB3C6FB4FBA6D79"><enum>(B)</enum><text>establish a review
process for submitted projects that includes a procedure for providing the
results of the review, together with an explanation of the reasons for
approving or denying approval of a submitted project, to the entity that
submitted the project.</text>
</subparagraph></paragraph><paragraph id="HD55C4DCD1BF5435891157899E9CDF217"><enum>(3)</enum><header>Fees</header><text>The
Administrator may charge an application fee for the review of project proposals
to cover the administrative costs of the program.</text>
</paragraph><paragraph id="HCD2312603B734C7EA87C8625EBBB7C38"><enum>(4)</enum><header>Certification of
results required</header><text>The Administrator shall require entities
participating in this program to obtain independent third-party verification
that—</text>
<subparagraph id="HF8767A93A9714D40917B449EE0F69045"><enum>(A)</enum><text>participation by
all parties involved in the project is voluntary; and</text>
</subparagraph><subparagraph id="HD6BE8CE9813C41E886D1E569BEA4E8F"><enum>(B)</enum><text>the project
produces—</text>
<clause id="HB1EE1ED4988D40759DA5C769BA7215D1"><enum>(i)</enum><text>real, measurable,
and long-term benefits related to the mitigation of climate change; and</text>
</clause><clause id="HFB04D1B1BADF4BCE81967EB7CFC887EE"><enum>(ii)</enum><text>reductions in
emissions that are additional to any that would occur in the absence of the
certified project activity.</text>
</clause></subparagraph></paragraph></subsection><subsection id="HF90A6A70C7FF45C4AE0602A13073BE5D"><enum>(c)</enum><header>Use of
allowances</header><text>Subject to the limitation in section 144(a), tradable
allowances earned under the program may be used to meet the requirements of
section 121.</text>
</subsection><subsection id="H91895E997F58494D842004007D9F876D"><enum>(d)</enum><header>Study</header><text>Within
3 years after the date of enactment of this Act, the Administrator, in
coordination with the Secretary, shall conduct a study of the impacts of the
compliance cost reduction measures of this section and section 144 on achieving
the purposes of this Act. The Administrator shall submit the results of the
study to the Congress along with any recommendations the Administrator
considers appropriate.</text>
</subsection></section></subtitle><subtitle id="HA97BC4E72EAC4708ACC22F1BAF927B5"><enum>D</enum><header>Establishment and
allocation of tradeable allowances</header>
<section id="H75AB057D1D62496FA8BE0033B12500F9"><enum>161.</enum><header>Determination
of tradeable allowance allocations</header>
<subsection id="HAF4A4919C81B4C01B4AF009563730438"><enum>(a)</enum><header>In
general</header><text>The Administrator shall annually determine—</text>
<paragraph id="H829D680483154AE300005FB08BCFBB3"><enum>(1)</enum><text>the amount of
tradeable allowances to be allocated to each covered sector; and</text>
</paragraph><paragraph id="HC59E4542390C46D0A32D6761AB6495F2"><enum>(2)</enum><text>the amount of
tradeable allowances to be allocated to the Climate Change Credit Corporation
established under section 201.</text>
</paragraph></subsection><subsection id="H1B9D5361A89549EDAF04BBD2E69976C4"><enum>(b)</enum><header>Allocation
factors</header><text>In making the determination required by subsection (a),
the Administrator shall consider—</text>
<paragraph id="H357943C7215D41F88929D3131C267E3"><enum>(1)</enum><text>the distributive
effect of the allocations on household income and net worth of
individuals;</text>
</paragraph><paragraph id="H0F89C3F56B294638B1C324C4A6D1DA72"><enum>(2)</enum><text>the impact of the
allocations on corporate income, taxes, and asset value;</text>
</paragraph><paragraph id="H0766F1D50FC44651B5EB06F177498E41"><enum>(3)</enum><text>the impact of the
allocations on income levels of consumers and on their energy
consumption;</text>
</paragraph><paragraph id="H9B4C4A88504E41A08DAC00383288A5BF"><enum>(4)</enum><text>the effects of the
allocations in terms of economic efficiency;</text>
</paragraph><paragraph id="H0FE66E21281A471A8F56C5325CF6156D"><enum>(5)</enum><text>the ability of
covered entities to pass through compliance costs to their customers;</text>
</paragraph><paragraph commented="no" id="H1061F07A6D1C4D81905367A675F3340"><enum>(6)</enum><text>the degree to which
the amount of allocations to the covered sectors should decrease over
time;</text>
</paragraph><paragraph id="H548A496D2C63438DB3541448D89D5604"><enum>(7)</enum><text>the need to
maintain the international competitiveness of United States manufacturing and
avoid the additional loss of United States manufacturing jobs; and</text>
</paragraph><paragraph id="H8D3AAB8FFEB744FF933723006501881D"><enum>(8)</enum><text>the necessary
funding levels for the initiatives and programs described in section
202.</text>
</paragraph></subsection><subsection id="H9A0F067976BD4F4AB8CF7902EFA33237"><enum>(c)</enum><header>Allocation
recommendations and implementation</header><text>Not later than 24 months after
the date of enactment of this Act, and annually thereafter, the Administrator
shall submit the determinations under subsection (a) to the Committee on
Commerce, Science, and Transportation and the Committee on Environment and
Public Works of the Senate, and to the Committee on Science and Technology and
the Committee on Energy and Commerce of the House of Representatives. The
Administrator’s determinations under subsection (a)(1), and the allocations and
provision of tradeable allowances pursuant to that determination, are deemed to
be a major rule (as defined in <external-xref legal-doc="usc" parsable-cite="usc/5/804">section 804(2)</external-xref> of title 5, United States Code),
and subject to the provisions of chapter 8 of that title.</text>
</subsection></section><section id="HA198EADC252448A3A6D341BA47581385"><enum>162.</enum><header>Provision of
tradeable allowances</header>
<subsection id="H8526B0F076AB473EA97DB18591B8EFD6"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">The Administrator
shall, by regulation, establish a process for providing tradeable allowances
without cost to covered entities described in subparagraphs (A) and (B)(i) and
(ii) of section 3(5) that will—</text>
<paragraph id="HC5756D188B5B4542B00025B38C85BF92"><enum>(1)</enum><text>encourage
investments that increase the efficiency of the processes that produce
greenhouse gas emissions;</text>
</paragraph><paragraph id="H9C71DD26A7BB455CA2A5BB00C716A0D7"><enum>(2)</enum><text>minimize the costs
to the Government of providing the tradeable allowances;</text>
</paragraph><paragraph commented="no" id="H823A059FCB7F4CD3B0B1760586C658C"><enum>(3)</enum><text>give credit to
covered entities for emissions reductions made before 2012 and registered with
the database; and</text>
</paragraph><paragraph id="H62830815D92D486D90C08EE104E7A07F"><enum>(4)</enum><text>provide sufficient
tradeable allowances for new entrants into the sector.</text>
</paragraph></subsection><subsection id="HBC9AD0CD5C334949A2F77CB71252FC80"><enum>(b)</enum><header>Allocation to
covered entities in States adopting mandatory greenhouse gas emissions
reduction programs</header><text display-inline="yes-display-inline">For a
covered entity operating in any State that has adopted a legally binding and
enforceable program to achieve and maintain greenhouse gas emission reductions
that are consistent with, or more stringent than, reductions mandated by this
Act, and which requirements are effective prior to 2012, the Administrator
shall consider such binding State actions in making the final determination of
allocation to such covered entities.</text>
</subsection></section><section id="HFFEA6F17810F44179E2984BF3CC3F826"><enum>163.</enum><header>Ensuring target
adequacy</header>
<subsection id="HC3BFDD30B91C492AA22D96C764C732F5"><enum>(a)</enum><header>In
general</header><text>Beginning 2 years after the date of enactment of this
Act, the Under Secretary of Commerce for Oceans and Atmosphere shall review the
amount of allowances established under section 124 no less frequently than
biennially—</text>
<paragraph id="H4B839EF606CE4501B7FCF5CDED04924D"><enum>(1)</enum><text>to re-evaluate the
levels established by that section, after taking into account the best
available science and the most currently available data; and</text>
</paragraph><paragraph id="HD6546B0DAEB74311963D4C9E24B4F0B0"><enum>(2)</enum><text>to re-evaluate the
environmental and public health impacts of specific concentration levels of
greenhouse gases,</text>
</paragraph><continuation-text continuation-text-level="subsection">to
determine whether the amount of those allowances continues to be consistent
with the objective of the United Nations’ Framework Convention on Climate
Change of stabilizing levels of greenhouse gas emissions at a level that will
prevent dangerous anthropogenic interference with the climate system.</continuation-text></subsection><subsection id="HA29C9A50AA8A4358A400FE01CD3FE400"><enum>(b)</enum><header>Review of 2012
levels</header><text>The Under Secretary shall specifically review in 2010 the
level established under section 124(a)(1), and transmit a report on his
reviews, together with any recommendations, including legislative
recommendations, for modification of the levels, to the Committee on Commerce,
Science, and Transportation and the Committee on Environment and Public Works
of the Senate, and to the Committee on Science and Technology and the Committee
on Energy and Commerce of the House of Representatives.</text>
</subsection></section><section id="H1A40C41D427C4356A046EDA215172355"><enum>164.</enum><header>Initial
allocations for early participation and accelerated participation</header><text display-inline="no-display-inline">Before providing any tradeable allowances
under section 162, the Administrator shall allocate—</text>
<paragraph id="HBDB1DB9F337C493EACE021D1E27009C6"><enum>(1)</enum><text>to any covered
entity an amount of tradeable allowances equivalent to the amount of greenhouse
gas emission reductions registered by that covered entity in the database
if—</text>
<subparagraph id="H47F49BD25FBD450C90B42FC7C39DCE54"><enum>(A)</enum><text>the covered entity
has requested to use the registered reduction in the year of allocation;</text>
</subparagraph><subparagraph id="H8D2FDCADA2DF4CC68C2D717890BE967B"><enum>(B)</enum><text>the reduction was
registered prior to 2012; and</text>
</subparagraph><subparagraph id="HE4D12A89084B4F3C96F8EF2F05D0A65B"><enum>(C)</enum><text>the Administrator
retires the unique serial number assigned to the reduction under section
101(c)(3); and</text>
</subparagraph></paragraph><paragraph id="H2C0FFB1AB8464ECF95A89F5896FB792C"><enum>(2)</enum><text>to any covered
entity that has entered into an accelerated participation agreement under
section 165, such tradeable allowances as the Administrator has determined to
be appropriate under that section.</text>
</paragraph></section><section id="HEED10273DFEC42018990E2EB093E66A4"><enum>165.</enum><header>Bonus for
accelerated participation</header>
<subsection id="HF81FA5EB26E445AE906BE19455CED5E6"><enum>(a)</enum><header>In
general</header><text>If a covered entity executes an agreement with the
Administrator under which it agrees to reduce its level of greenhouse gas
emissions to a level no greater than the level of its greenhouse gas emissions
for calendar year 1990 by the year 2012, then, for the 6-year period beginning
with calendar year 2012, the Administrator shall—</text>
<paragraph id="H26CC84C64A394542A3E8143DBF268DB8"><enum>(1)</enum><text>provide additional
tradeable allowances to that entity when allocating allowances under section
164 in order to recognize the additional emission reductions that will be
required of the covered entity;</text>
</paragraph><paragraph id="H31E8F6D89E7A462A00F757A4002BA4CD"><enum>(2)</enum><text>allow that entity
to satisfy 20 percent (in addition to the amount authorized under section
144(a)) of its requirements under section 121 by any combination of—</text>
<subparagraph id="H10448AB4728641C0A3009B9FC74289B7"><enum>(A)</enum><text>submitting
tradeable allowances from another nation’s market in greenhouse gas emissions
under the conditions described in section 144(a)(1);</text>
</subparagraph><subparagraph id="HBAA5EB0BE3104341908B18593D99D47C"><enum>(B)</enum><text>submitting a
registered net increase in sequestration, as registered in the database,
adjusted, if necessary, to comply with the accounting standards and methods
described in section 144(c); and</text>
</subparagraph><subparagraph id="HA85B2AB5E9064A36B806FBA93641AFBB"><enum>(C)</enum><text>submitting a
greenhouse gas emission reduction (other than a registered net increase in
sequestration) that was registered in the database by a person that is not a
covered entity.</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="H03E4F052343F407895DBB002F32B126"><enum>(b)</enum><header>Termination</header><text>An
entity that executes an agreement described in subsection (a) may terminate the
agreement at any time.</text>
</subsection><subsection id="H7509C709F8B24C97AD834F7BC09D1528"><enum>(c)</enum><header>Failure To meet
commitment</header><text>If an entity that executes an agreement described in
subsection (a) fails to achieve the level of emissions to which it committed by
calendar year 2012, including through termination under subsection (b)—</text>
<paragraph id="H90326EAAE8B94B4BA819459C3FC7A4FE"><enum>(1)</enum><text>its requirements
under section 121 shall be increased by the amount of any tradeable allowances
provided to it under subsection (a)(1) of this section; and</text>
</paragraph><paragraph id="HDEAD50BA308D4B82ABD5A1A8267B00E5"><enum>(2)</enum><text>any tradeable
allowances submitted thereafter shall be counted first against the increase in
those requirements.</text>
</paragraph></subsection></section></subtitle><enum>II</enum><header>Climate Change
Credit Corporation</header>
<section id="H9833AC567C8A4B5396FC929BA3A95C7F"><enum>201.</enum><header>Establishment</header>
<subsection id="HFADDB3FBCE8F4A5799FAAAEA002BDCEB"><enum>(a)</enum><header>In
general</header><text>The Climate Change Credit Corporation (in this title
referred to as the <quote>Corporation</quote>) is established as a nonprofit
corporation without stock. The Corporation shall not be considered to be an
agency or establishment of the United States Government.</text>
</subsection><subsection id="HF58A7BD5B446494FAA578358060057E2"><enum>(b)</enum><header>Applicable
laws</header><text>The Corporation shall be subject to the provisions of this
Act and, to the extent consistent with this Act, to the District of Columbia
Business Corporation Act.</text>
</subsection><subsection id="HBD305EFC437B4813AD417215EBBB7752"><enum>(c)</enum><header>Board of
directors</header><text>The Corporation shall have a board of directors of 5
individuals who are citizens of the United States, of whom 1 shall be elected
annually by the board to serve as chairman. No more than 3 members of the board
serving at any time may be affiliated with the same political party. The
members of the board shall be appointed by the President of the United States,
by and with the advice and consent of the Senate, and shall serve for terms of
5 years.</text>
</subsection></section><section id="H06E45344D0CF4866862B76A91BEC00C7"><enum>202.</enum><header>Purposes and
functions</header>
<subsection id="H7C3045C4098344809500823747F23263"><enum>(a)</enum><header>Trading</header><text>The
Corporation—</text>
<paragraph id="H936EC16B82014CE086D4D0D3002E1E44"><enum>(1)</enum><text>shall receive and
manage tradeable allowances allocated to it under section 161(a)(2);</text>
</paragraph><paragraph id="H0A852D4146D845209F7E978221A5DCB"><enum>(2)</enum><text>shall buy and sell
tradeable allowances, whether allocated to it under that section or obtained by
purchase, trade, or donation from other entities; and</text>
</paragraph><paragraph id="HC550A77A66114D44A4F706EA1C206D44"><enum>(3)</enum><text>may not retire
tradeable allowances unused.</text>
</paragraph></subsection><subsection id="H5AC5CE4E617B40C8BA201E58D9DFDA2B"><enum>(b)</enum><header>Use of tradeable
allowances and proceeds</header>
<paragraph id="HC75113E13CD041B7B8C50422D0410049"><enum>(1)</enum><header>In
general</header><text>The Corporation shall use the tradeable allowances, and
proceeds derived from its trading activities in tradeable allowances, to reduce
costs borne by consumers as a result of the greenhouse gas reduction
requirements of this Act. The reductions—</text>
<subparagraph id="HB63DFB8D88A34B898BFD62C9DCEE73A6"><enum>(A)</enum><text>may be obtained by
buy-down, subsidy, negotiation of discounts, consumer rebates, or
otherwise;</text>
</subparagraph><subparagraph id="H43983003D23A49CD8BBF20215E2991FF"><enum>(B)</enum><text>shall be, as
nearly as possible, equitably distributed across all regions of the United
States; and</text>
</subparagraph><subparagraph id="H44BFF614B2D441E28D87381FAFCE18FC"><enum>(C)</enum><text>may include
arrangements for preferential treatment to consumers who can least afford any
such increased costs.</text>
</subparagraph></paragraph><paragraph id="H6913F282D492425ABBC94042E1A38F00"><enum>(2)</enum><header>Transition
assistance to dislocated workers and communities</header><text>The Corporation
shall allocate a percentage of the proceeds derived from its trading activities
in tradeable allowances to provide transition assistance to dislocated workers
and communities. Transition assistance may take the form of—</text>
<subparagraph id="H5AB1E9EA0AB349B1B26FB49274B9C4B0"><enum>(A)</enum><text>grants to
employers, employer associations, and representatives of employees—</text>
<clause id="HBA3B29BDB1644B2C0046F2AEB197B4F4"><enum>(i)</enum><text>to
provide training, adjustment assistance, and employment services to dislocated
workers; and</text>
</clause><clause id="H0A841DDF9B714F0181D1FB9AC82BE8D"><enum>(ii)</enum><text>to
make income-maintenance and needs-related payments to dislocated workers;
and</text>
</clause></subparagraph><subparagraph id="HE6697EDC3B7D4C48A300D94F6400B5EF"><enum>(B)</enum><text>grants to State
and local governments to assist communities in attracting new employers or
providing essential local government services.</text>
</subparagraph></paragraph><paragraph id="H860B0763FA2A4224B2A9009295310881"><enum>(3)</enum><header>Phase-out of
transition assistance</header><text>The percentage allocated by the Corporation
under paragraph (2)—</text>
<subparagraph id="H1743150D16F7482EAF5D2783D449E480"><enum>(A)</enum><text>shall be 20
percent for 2012; and</text>
</subparagraph><subparagraph id="HC3222410E33245B5ABECAAE531E245F"><enum>(B)</enum><text>shall be reduced by
2 percentage points each of the next 10 years thereafter.</text>
</subparagraph></paragraph><paragraph id="H62081E73CCD84F7BB1808BFC943F06EB"><enum>(4)</enum><header>Technology
deployment programs</header><text>The Corporation shall establish and carry out
a program, through direct grants, revolving loan programs, or other financial
measures, to provide support for the deployment of technology to assist in
compliance with this Act by distributing the proceeds from no less than 10
percent of the total allowances allocated to it for each year. The support
shall include the following:</text>
<subparagraph id="H07C947E5377B48D7B8AEEEFF48A987CF"><enum>(A)</enum><header>Coal
gasification combined-cycle and geological carbon storage
program</header><text>The Corporation shall establish and carry out a program,
through direct grants, to provide incentives for the repowering of existing
facilities or construction of new facilities producing electricity or other
products from coal gasification combined-cycle plants that capture and
geologically store at least 90 percent of the carbon dioxide produced at the
facility in accordance with requirements established by the Administrator to
ensure the permanence of the storage and that such storage will not cause or
contribute to significant adverse effects on public health or the environment.
The Corporation shall ensure that no less than 20 percent of the funding under
this program is distributed to rural electric cooperatives.</text>
</subparagraph><subparagraph id="HDBC16513C2A14A7598375F20B392387E"><enum>(B)</enum><header>Agricultural
programs</header><text>The Corporation shall establish and carry out a program,
through direct grants, revolving loan programs, or other financial measures, to
provide incentives for greenhouse gas emissions reductions or net increases in
sequestration on agricultural lands. The program shall include incentives
for—</text>
<clause id="H0E1C522364424AE39F47C3BA4C508DC9"><enum>(i)</enum><text>production of wind
energy on agricultural lands;</text>
</clause><clause id="H7001EA2AA050439686AC88240060D148"><enum>(ii)</enum><text>agricultural
management practices that achieve verified, incremental increases in net carbon
sequestration, in accordance with the requirements established by the
Administrator under section 144(c); and</text>
</clause><clause id="H911A9BA957844627001DE33021440032"><enum>(iii)</enum><text>production of
renewable fuels that, after consideration of the energy needed to produce such
fuels, result in a net reduction in greenhouse gas emissions.</text>
</clause></subparagraph></paragraph><paragraph id="H02C6EF7A365B4E4FB5B5F31580D60853"><enum>(5)</enum><header>Adaptation
assistance for fish and wildlife habitat</header><text>The Corporation shall
fund efforts to strengthen and restore habitat that improve the ability of fish
and wildlife to adapt successfully to climate change. The Corporation shall
deposit the proceeds from no less than 10 percent of the total allowances
allocated to it in the wildlife restoration fund subaccount known as the
Wildlife Conservation and Restoration Account established under section 3 of
the Pittman-Robertson Wildlife Restoration Act (<external-xref legal-doc="usc" parsable-cite="usc/16/669b">16 U.S.C. 669b</external-xref>). Amounts
deposited in the subaccount under this paragraph shall be available without
further appropriation for obligation and expenditure under that Act.</text>
</paragraph></subsection></section><enum>III</enum><header>Miscellaneous</header>
<section id="H79EE278D16994042986780D4B1798FFC"><enum>301.</enum><header>NOAA report on
climate change effects; preparation assistance</header><text display-inline="no-display-inline">The <act-name parsable-cite="CZMA72">Coastal
Zone Management Act of 1972</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/16/1451">16 U.S.C. 1451 et seq.</external-xref>) is amended by
adding at the end the following:</text>
<quoted-block act-name="Coastal Zone Management Act of 1972" id="H751AE46BD2C44F49BA26D6FDC5C01970" style="traditional">
<section id="H143DB49F5ED74717AA0000F66EF6F686"><enum>320.</enum><header>Report on effects of climate change</header><subsection commented="no" display-inline="yes-display-inline" id="HF5A43DF5B72A4088911F41005BCF2286"><enum>(a)</enum><header>In
general</header><text>The Secretary shall report to the Congress not later than
2 years after the date of enactment of this section, and every 5 years
thereafter, on the possible and projected impacts of climate change on—</text>
<paragraph id="HE5B798E3636D45B7B0A262508FF63C"><enum>(1)</enum><text>oceanic and coastal
ecosystems, including marine fish and wildlife and their habitat, and the
commercial and recreational fisheries and tourism industries associated with
them; and</text>
</paragraph><paragraph id="H8DF151419CEB4BCC9197170931C303E2"><enum>(2)</enum><text>coastal
communities, including private residential and commercial development and
public infrastructure in the coastal zone.</text>
</paragraph></subsection><subsection id="HB6C67F12E5DC4FF1A59D00997F11167F"><enum>(b)</enum><header>Contents</header><text>Each
report under this section shall include information regarding—</text>
<paragraph id="HE13F14A721B64B1192FACE31BDA38D"><enum>(1)</enum><text>the impacts that may
be due to climate change that have occurred as of the date of the submission of
the report; and</text>
</paragraph><paragraph id="HCA95C91EACB343AE9B66D2B5B3C8B9C"><enum>(2)</enum><text>the projected
future impacts of climate change.</text>
</paragraph></subsection><subsection id="H1C1047CC39C24A649DAB126DF6AC44AA"><enum>(c)</enum><header>Impacts</header><text>The
impacts reported on under subsection (b) shall include any—</text>
<paragraph id="H564E8290163A4CB390474261FD337169"><enum>(1)</enum><text>increases in sea
level;</text>
</paragraph><paragraph id="H42EDB561418346188324EDD330604CCD"><enum>(2)</enum><text>increases in storm
activity and intensity;</text>
</paragraph><paragraph id="H315EEFD43E0F49F78DABC6CDE6976190"><enum>(3)</enum><text>increases in
floods, droughts, and other extremes of weather;</text>
</paragraph><paragraph id="H7EDB47FA98CC44779ECDF67D13F5826"><enum>(4)</enum><text>increases in the
temperature of the air and the water on oceanic and coastal ecosystems, with a
particular focus on vulnerable fisheries and ecosystems; and</text>
</paragraph><paragraph id="H2E1D00EB5E694F65A841E7CBE0CB509F"><enum>(5)</enum><text>changes in the
acidity of the ocean surface associated with an increase in concentration of
carbon dioxide in the atmosphere.</text>
</paragraph></subsection></section><section id="HA2970B11F2114BCBB600B001B11C1D4"><enum>321.</enum><header>Climate change preparation
assistance</header><subsection commented="no" display-inline="yes-display-inline" id="H8D4530E960F847C8B256F44D6FC3DB5C"><enum>(a)</enum><header>In
general</header><text>The Secretary shall provide technical assistance to each
coastal State that has an approved coastal zone management plan under this
title, to assist such States in preparing persons living within their coastal
zones to adapt to climate change.</text>
</subsection><subsection id="H0884742F26A94B139D1105E3551C1B8E"><enum>(b)</enum><header>Identification
of affected areas and adaptations</header><text>In carrying out this section,
the Secretary shall—</text>
<paragraph id="HCFFC753AD8064EFA00AED52DB7F22F51"><enum>(1)</enum><text>identify the
projected impacts of climate change to which persons located in coastal zones
may need to adapt, including—</text>
<subparagraph id="H8E07656F499A4D2196AC128E6503B800"><enum>(A)</enum><text>increases in sea
level;</text>
</subparagraph><subparagraph id="H59B1D50890474A98BE9D9F908DD71DDC"><enum>(B)</enum><text>increases in storm
activity and intensity; and</text>
</subparagraph><subparagraph id="H241914046AFC4B6780304BA4E29DD052"><enum>(C)</enum><text>increases in
floods, droughts, and other extremes of weather;</text>
</subparagraph></paragraph><paragraph id="HDF19518AC9D94584819703DBD2619B28"><enum>(2)</enum><text>identify the
specific coastal areas of the United States, and the public and private
development in coastal communities and the natural resources of the coastal
zone, that are vulnerable to the impacts identified under paragraph (1);</text>
</paragraph><paragraph id="H51576F3A17C84B658B65613E87BF4FE8"><enum>(3)</enum><text>identify the
various adaptation measures that may be used to protect the areas and resources
identified under paragraph (2) from the impacts identified under paragraph (1);
and</text>
</paragraph><paragraph id="H11BAC6A6B13F458A92D954CB7C007FB7"><enum>(4)</enum><text>estimate the costs
of the adaptation measures identified under paragraph
(3).</text>
</paragraph></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="H3F0AE340E08F486EBEC071B281D838DB"><enum>302.</enum><header>Adaptation
technologies</header>
<subsection id="H27D5D476F3E341ED82957BCEC0FAE36F"><enum>(a)</enum><header>In
General</header><text>The Director of the Office of Science and Technology
Policy shall establish a program on adaptation technologies as part of the
Climate Technology Challenge Program. The Director shall perform an assessment
of the climate change technological needs of various regions of the country.
This assessment shall be provided to the Committee on Commerce, Science, and
Transportation of the Senate and the Committee on Science and Technology of the
House of Representatives within 6 months after the date of enactment of this
Act.</text>
</subsection><subsection id="H1CDB3305E1D8482D94E2312E83CAEB6C"><enum>(b)</enum><header>Regional
Estimates</header><text>The Director of the Office of Science and Technology
Policy, in consultation with the Secretaries of Transportation, Homeland
Security, Agriculture, Housing and Urban Development, Health and Human
Services, Defense, Interior, Energy, and Commerce, the Administrator of the
Environmental Protection Agency, the Director of United States Geological
Survey, and other such Federal offices as the Director considers necessary,
along with relevant State agencies, shall perform 6 regional infrastructure
cost assessments covering the United States, and a national cost assessment, to
provide estimates of the range of costs that should be anticipated for
adaptation to the impacts of climate change. The Director shall develop those
estimates for low, medium, and high probabilities of climate change and its
potential impacts. The assessments shall be provided to the Committee on
Commerce, Science, and Transportation of the Senate and the Committee on
Science and Technology of the House of Representatives within 1 year after the
date of enactment of this Act.</text>
</subsection><subsection id="H966CCB3FB56D4A8185B4AFCCC2A07E2B"><enum>(c)</enum><header>Adaptation
Plan</header>
<paragraph id="H0B7BBA9A1F8447D6A8A67CB56C5B767C"><enum>(1)</enum><header>In
general</header><text>Within 6 months after the date of enactment of this Act,
the Secretary of Commerce shall submit a climate change adaptation plan for the
United States to the Congress. The adaptation plan shall be based upon
assessments performed by the United Nations Intergovernmental Panel on Climate
Change, those as required by the 1990 Global Change Research Act, and any other
scientific peer-reviewed regional assessments.</text>
</paragraph><paragraph id="HA573D87C223941E4AF29B8E02D251116"><enum>(2)</enum><header>Required
components</header><text>The adaptation plan shall include—</text>
<subparagraph id="HEEE9E537767B4569AB57CF16EE71A219"><enum>(A)</enum><text>a prioritized list
of vulnerable systems and regions;</text>
</subparagraph><subparagraph id="H2EA6846D7BEA4A16879DF6C5BF72732C"><enum>(B)</enum><text>coordination
requirements between Federal, State, and local governments to ensure that key
public infrastructure, safety, health, and land use planning and control issues
are addressed;</text>
</subparagraph><subparagraph id="HC3C4559BFDF0425092AF299B3FEB8BFD"><enum>(C)</enum><text>coordination
requirements among the Federal Government, industry, and communities;</text>
</subparagraph><subparagraph id="HFD5435CC13B64C279FD62389B832003F"><enum>(D)</enum><text>an assessment of
climate change science research needs including probabilistic assessments as an
aid to planning;</text>
</subparagraph><subparagraph id="H039A8983353C4D7A82078C692B19C608"><enum>(E)</enum><text>an assessment of
climate change technology needs; and</text>
</subparagraph><subparagraph id="HA0CA4E4CF58347DCAC53083D086D12BA"><enum>(F)</enum><text>regional and
national costs assessments for the range of costs that should be anticipated
for adapting to the impacts of climate change.</text>
</subparagraph></paragraph></subsection></section><section id="HA2C3E075A46F4E61A8CBAFC4C8327806"><enum>303.</enum><header>Mitigating
climate change’s impacts on the poor</header>
<subsection id="H145AB2304DD94CE2AD2F2843FB25EB1E"><enum>(a)</enum><header>In
General</header><text>The Secretary shall conduct research on the impact of
climate change on low-income populations everywhere in the world. The research
shall—</text>
<paragraph id="H8D878E73491840E8B6DFD800F39757BB"><enum>(1)</enum><text>include an
assessment of the adverse impact of climate change on low-income populations in
the United States and on developing countries;</text>
</paragraph><paragraph id="H1445D0D8F07244ADA9E981B2E3612F3F"><enum>(2)</enum><text>identify
appropriate climate change adaptation measures and programs for developing
countries and low-income populations and assess the impact of those measures
and programs on low-income populations;</text>
</paragraph><paragraph id="HA61DE4BE687042E4BBC7ED6780E01519"><enum>(3)</enum><text>identify
appropriate climate change mitigation strategies and programs for developing
countries and low-income populations and assess the impact of those strategies
and programs on developing countries and on low-income populations in the
United States; and</text>
</paragraph><paragraph id="H2972274FFBE34F9496F3D7632DFBF7DE"><enum>(4)</enum><text>include an
estimate of the costs of developing and implementing those climate change
adaptation and mitigation programs.</text>
</paragraph></subsection><subsection id="HF6586F60E10A4C8D9D0937009BD74422"><enum>(b)</enum><header>Report</header><text>Within
1 year after the date of enactment of this Act, the Secretary shall transmit a
report on the research conducted under subsection (a) to the Committee on
Commerce, Science, and Transportation and the Committee on Environment and
Public Works of the Senate, and to the Committee on Science and Technology and
the Committee on Energy and Commerce of the House of Representatives.</text>
</subsection><subsection id="HFCB52BF40B874D989D0021A6F4ED66E2"><enum>(c)</enum><header>Authorization of
Appropriations</header><text>There are authorized to be appropriated to the
Secretary $2,000,000 to carry out the research required by subsection
(a).</text>
</subsection></section><section id="HFA188B55D2EC4946BC9DD6346F08007E"><enum>304.</enum><header>Wildlife
conservation</header>
<subsection display-inline="no-display-inline" id="HED86EC11691D477AAFDD85C8EB9E0530"><enum>(a)</enum><header>Funding for
climate change impact mitigation planning</header><text>Section 3(c) of the
Pittman-Robertson Wildlife Restoration Act (<external-xref legal-doc="usc" parsable-cite="usc/16/669b">16 U.S.C. 669b(c)</external-xref>) is amended by
adding at the end the following:</text>
<quoted-block id="HF3E7A941CE024A099BD15C8CAFADB06" style="OLC">
<paragraph id="H95FA2FDE773F4CB687F04D98353BAF3B"><enum>(4)</enum><header>Climate change
impact mitigation plans</header><text>Amounts deposited in the Wildlife
Conservation and Restoration Account under section 202(b)(5) of the Climate
Stewardship Act of 2007—</text>
<subparagraph id="H65A8005CEE3D42E5BF39009572C2F450"><enum>(A)</enum><text>may be used by
States to provide relevant information, training, monitoring, and other
assistance to develop climate change impact mitigation plans and integrate them
into State Comprehensive Wildlife Conservation Strategies; and</text>
</subparagraph><subparagraph id="H3959984CF7394056A6005392F5919577"><enum>(B)</enum><text>shall be used by
States to implement climate change impact mitigation plans integrated into
Comprehensive Wildlife Conservation
Strategies.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H322973B2BACF4E6A988B12CBBAE300DF"><enum>(b)</enum><header>Conforming
amendment</header><text display-inline="yes-display-inline">Section 3(a)(2) of
the Pittman-Robertson Wildlife Restoration Act (<external-xref legal-doc="usc" parsable-cite="usc/16/669b">16 U.S.C. 669b(a)(2)</external-xref>) is
amended in the second sentence by inserting <quote>(in addition to amounts
deposited under section 202(b)(5) of the Climate Stewardship Act of
2007)</quote> after <quote>Wildlife Conservation and Restoration
Account</quote>.</text>
</subsection></section>