[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1683 Introduced in House (IH)]
111th CONGRESS
1st Session
H. R. 1683
To amend the Internal Revenue Code of 1986 to reduce greenhouse gas
emissions by requiring a Federal emission permit for the sale or use of
greenhouse gas emission substances, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 24, 2009
Mr. McDermott (for himself, Mr. Blumenauer, Mr. Larson of Connecticut,
and Mr. Stark) introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committee on Energy
and Commerce, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to reduce greenhouse gas
emissions by requiring a Federal emission permit for the sale or use of
greenhouse gas emission substances, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Clean Environment and Stable Energy
Market Act of 2009''.
SEC. 2. GREENHOUSE GAS EMISSION SUBSTANCES.
(a) In General.--The Internal Revenue Code of 1986 is amended by
adding at the end the following:
``Subtitle L--Greenhouse Gas Emission Substances
``Sec. 9901. Condition precedent to sale or use of greenhouse gas
emission substance.
``Sec. 9902. Federal emission permit.
``Sec. 9903. Definitions.
``Sec. 9904. Regulations.
``SEC. 9901. CONDITION PRECEDENT TO SALE OR USE OF GREENHOUSE GAS
EMISSION SUBSTANCE.
``(a) In General.--No covered person may sell any greenhouse gas
emission substance except pursuant to a Federal emission permit for
each carbon dioxide equivalent that the Administrator of the
Environmental Protection Agency determines would be emitted from the
combustion or other greenhouse gas emitting use of such substance.
``(b) Covered Person.--For purposes of this subtitle, the term
`covered person' means--
``(1) in the case of coal (including lignite and peat)
produced from a mine in the United States, the producer of such
coal,
``(2) in the case of crude oil or petroleum products
received at a United States refinery, the operator of the
United States refinery,
``(3) in the case of any greenhouse gas emission substance
not described in paragraph (1) or (2) produced in the United
States, the producer of such substance, and
``(4) in the case of any greenhouse gas emission substance
entered into the United States for consumption, use, or
warehousing, the person entering such substance for
consumption, use, or warehousing.
``(c) Use Treated as Sale.--
``(1) In general.--If any person uses a greenhouse gas
emission substance before the first retail sale of such
substance, then such person shall be liable for the purchase of
a Federal emission permit under section 9902 in the same manner
as if such substance were sold at retail on the date of such
use by such person pursuant to a Federal emission permit.
``(2) Exemption for use in further manufacture.--Paragraph
(1) shall not apply to use of a greenhouse gas emission
substance as material in the manufacture or production of, or
as a component part of, another article to be manufactured or
produced by such person.
``(d) Exceptions.--Subsection (a) shall not apply to--
``(1) a greenhouse gas emission substance to be used for
noncombustion agricultural purposes, or
``(2) a greenhouse gas emission substance with respect to
which a Federal emission permit has previously been purchased.
``(e) Importation of Carbon-Intensive Goods.--
``(1) Greenhouse gas emission permit equivalency fees.--The
Secretary shall impose a greenhouse gas emission permit
equivalency fee on imports of carbon intensive goods that shall
be equivalent to the cost that domestic producers of comparable
carbon intensive goods incur as a result of--
``(A) permit fees paid by covered persons for
greenhouse gas emission substances under this section,
and
``(B) greenhouse gas emission permit equivalency
fees paid by importers of carbon intensive goods used
in the production of the comparable carbon intensive
goods in question.
``(2) Expiration.--Paragraph (1) and 6633(b) shall cease to
have effect at such time as and to the extent that--
``(A) an international agreement requiring
countries that emit greenhouse gases and produce
carbon-intensive goods for international markets to
adopt equivalent measures comes into effect, and
``(B) the country of export has implemented
equivalent measures, and the actions provided for by
paragraph (1) and 6633(b) are no longer appropriate.
``SEC. 9902. FEDERAL EMISSION PERMIT.
``(a) In General.--The Secretary shall, subject to subsection (d),
issue Federal emission permits, as provided for in this subtitle. A
Federal emission permit may only be obtained upon making payment to the
Secretary.
``(b) Rules Relating to Permits.--For purposes of this subtitle--
``(1) Each Federal emission permit shall be denominated in
carbon dioxide equivalents.
``(2) A Federal emission permit may only be purchased at
the time a greenhouse gas emission substance is produced or
entered into the United States, as the case may be.
``(3) A Federal emission permit may not be sold, exchanged,
or otherwise transferred.
``(c) Permit Price.--
``(1) In general.--The Secretary, after consultation with
the Administrator of the Environmental Protection Agency and
the Secretary of Energy, shall establish the price of obtaining
a Federal emission permit for a calendar year based on a
determination of the dollar amount necessary to ensure that the
demand for permits does not exceed the greenhouse gas emission
allocations for such calendar year.
``(2) 5-year price schedule.--
``(A) In general.--Not later than January 1, 2010,
and once every 5 years thereafter, the Secretary shall
publish a schedule of the prices determined under
paragraph (1) for obtaining a Federal emission permit
during any calendar year in the 5-calendar-year period
beginning 1 year after any such date.
``(B) Modifications.--If in a given 5-year period--
``(i) the Secretary reasonably expects to
issue Federal emission permits that (in the
aggregate) significantly exceed or fall short
of the national limitation because of the price
set by the Secretary (and not because of
temporary fluctuations in the energy markets or
the weather), and
``(ii) sufficient time remains in such
period,
the Secretary shall establish a new schedule of prices
for the remaining years in such 5-year period. Such
schedule may not take effect until after 12 months
after the establishment of such schedule.
``(C) Number of modifications permitted.--In the
first 5-year period, the Secretary may change the
schedule of prices under subparagraph (B) a maximum to
two times. In any ensuing 5-year period, the Secretary
may change the schedule of prices under subparagraph
(B) a maximum of once.
``(d) National Limitation.--
``(1) In general.--There is a national greenhouse gas
emission allocation limitation for any calendar year. Such
limitation for a calendar year shall be the sum of--
``(A) the greenhouse gas emission allocations
specified in the table in paragraph (3) for such
calendar year reduced pursuant to paragraph (2) for
such calendar year, plus
``(B) the additional allocation of Federal emission
permits issued by the Secretary for such calendar year
to the extent that applications for Federal emission
permits exceed the greenhouse gas emission allocations
specified in the table in paragraph (3) for such
calendar year.
``(2) Reduction required over remaining years.--After
issuing additional allocations under paragraph (1)(B) during
any 5-calendar-year period, the number of the greenhouse gas
emission allocations specified in the table in paragraph (3)
shall be reduced ratably the aggregate number of such
additional allocations over the years specified in such table
remaining after such period.
``(3) Annual economy-wide greenhouse gas emission
allocations.--The greenhouse gas emission allocations for a
calendar year are those specified in the following table:
----------------------------------------------------------------------------------------------------------------
United States Economy-Wide
Greenhouse Gas Emission Allocations
``Calendar Year (in Millions of Carbon Dioxide
Equivalents)
----------------------------------------------------------------------------------------------------------------
2011 6835.29
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2012 6670.58
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2013 6505.87
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2014 6341.16
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2015 6176.45
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2016 6011.74
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2017 5847.03
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2018 5682.32
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2019 5517.61
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2020 5352.9
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2021 5110.99
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2022 4880
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2023 4659.5
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2024 4448.93
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2025 4247.89
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2026 4055.93
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2027 3872.64
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2028 3697.63
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2029 3530.54
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2030 3370.99
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2031 3218.66
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2032 3073.2
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2033 2934.33
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2034 2801.72
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2035 2675.11
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2036 2554.23
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2037 2438.8
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2038 2328.59
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2039 2223.36
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2040 2122.89
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2041 2026.95
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2042 1935.36
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2043 1847.9
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2044 1764.39
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2045 1684.66
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2046 1608.53
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2047 1535.84
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2048 1466.43
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2049 1400.16
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
2050 1336.89.
----------------------------------------------------------------------------------------------------------------
``(e) Report.--Not later than January 1, 2012, and annually
thereafter, the Secretary shall publish a report describing the extent
to which the United States greenhouse gas emission allocations
specified under subsection (d) are being achieved. Such report shall
include--
``(1) an explanation of the methodology and assumptions the
Secretary has used in establishing prices under this section,
and
``(2) an estimation, or range of estimations, of the price
of permits for the 10-year period following the current 5-year
period.
``SEC. 9903. DEFINITIONS.
``(a) In General.--For purposes of this subtitle--
``(1) Administrator.--The term `Administrator' means the
Administrator of the Environmental Protection Agency.
``(2) Carbon dioxide equivalent.--The term `carbon dioxide
equivalent' means, for each greenhouse gas emission substance,
the quantity of the greenhouse gas emission substance that the
Administrator determines makes the same contribution to global
warming as 1 metric ton of carbon dioxide.
``(3) Greenhouse gas emission substance.--The term
`greenhouse gas emission substance' means--
``(A) coal (including lignite, peat, and
derivatives of coal), to be used as a combustion fuel,
``(B) petroleum and any petroleum product, to be
used as a combustion fuel,
``(C) natural gas,
``(D) methane,
``(E) nitrous oxide,
``(F) sulfur hexafluoride,
``(G) a perfluorocarbon,
``(H) a hydrofluorocarbon, and
``(I) any other substance that is determined by the
Administrator to contribute to global warming to a
nonnegligible degree.
``(4) Federal emission permit.--The term `Federal emission
permit' means a permit required under section 9901.
``(5) Carbon-intensive good.--The term `carbon-intensive
good' means--
``(A)(i) iron, steel, any steel mill product
(including pipe and tube), aluminum, cement, glass
(including flat, container, and specialty glass and
fiberglass), pulp, paper, chemicals, and industrial
ceramics, and
``(ii) any other manufactured product that the
Secretary determines--
``(I) is sold for purposes of further
manufacture, and
``(II) generates, in the course of the
manufacture of the product, direct and indirect
greenhouse gas emissions that are comparable
(on an emissions per dollar of output basis) to
emissions generated in the manufacture or
production of a good identified in clause (i),
and
``(B) a manufactured item in which one or more
goods identified under subparagraph (A) are inputs and
the cost of production of which in the United States
the Secretary determines is significantly increased by
this subtitle.
``(6) Petroleum product.--The term `petroleum product' has
the meaning given such term in section 4612(a)(3).
``(b) Identification of Carbon-Intensive Goods.--The determinations
by the Secretary required by subsection (a)(5) shall be by rule.
``SEC. 9904. REGULATIONS.
``The Secretary shall issue such regulations as may be necessary or
appropriate to carry out this subtitle, including regulations relating
to the timely and efficient issuance of permits and collection of
payments for such permits.''.
(b) Refund of Federal Emission Permit Fee.--Subchapter B of chapter
65 of such Code is amended by adding at the end the following new
section:
``SEC. 6633. REFUNDS OF FEDERAL EMISSION PERMIT FEE FOR CERTAIN USES.
``(a) In General.--If a Federal emission permit has been acquired
with respect to a greenhouse gas emission substance pursuant to section
9902 and the acquirer of such permit uses such substance in a manner
that will make a negligible or no contribution to global warming, as
determined by the Secretary in consultation with the Administrator of
the Environmental Protection Agency, the Secretary shall pay (without
interest) to the acquirer of such substance pursuant to such permit an
amount equal to the amount paid for the applicable Federal emission
permit.
``(b) Payments to Exporters.--The Secretary shall pay (without
interest) to the exporter of a carbon-intensive good (as defined in
section 9903(5)) produced in the United States an amount equal to the
cost that domestic producers of such carbon-intensive goods incur as a
result of--
``(1) the dollar amount paid by covered persons for Federal
emission permits for greenhouse gas emission substances under
this section 9902, and
``(2) greenhouse gas emission permit equivalency fees paid
under section 9901(e) by importers of carbon-intensive goods
used in the production of the comparable carbon-intensive goods
in question.''.
(c) Failure To Obtain Permit.--Subtitle D of the Internal Revenue
Code of 1986 is amended by adding at the end the following new chapter:
``CHAPTER 48--GREENHOUSE GAS EMISSION SUBSTANCES
``Sec. 5000A. Greenhouse gas emission substances.
``SEC. 5000A. GREENHOUSE GAS EMISSION SUBSTANCES.
``(a) Imposition of Tax.--There is hereby imposed on any covered
person who fails to obtain a Federal emission permit pursuant to
subtitle L a tax equal to 300 percent of the dollar amount of the fee
that would have been charged for such permit but for such failure.
``(b) Covered Person.--The term `covered person' has the meaning
given such term by section 9901(b).
``(c) Federal Emission Permit.--The term `Federal emission permit'
means a permit required under section 9901.''.
(d) Establishment of Climate Protection and Economic Security Trust
Fund.--
(1) Finding.--The Congress finds that revenue generated
from the sale of Federal emission permits must be recycled into
the American economy--
(A) to facilitate economic growth and clean energy
production, and
(B) to protect the economic security of vulnerable
families and communities.
(2) Establishment of trust fund.--Subchapter A of chapter
98 of such Code (relating to trust fund code) is amended by
adding at the end the following:
``SEC. 9511. CLIMATE PROTECTION AND ECONOMIC SECURITY TRUST FUND.
``(a) Creation of Trust Fund.--There is established in the Treasury
of the United States a trust fund to be known as the `Climate
Protection and Economic Security Trust Fund' (referred to in this
section as the `Trust Fund'), consisting of such amounts as may be
appropriated or credited to the Trust Fund as provided in this section
or section 9602(b).
``(b) Transfers to Trust Fund.--There is hereby appropriated to the
Trust Fund an amount equivalent to the amounts received in the Treasury
pursuant to subtitle L.''.
(e) Conforming and Clerical Amendments.--
(1) The table of chapters for subtitle D of such Code is
amended by adding at the end the following new item:
``Chapter 48--Greenhouse Gas Emission Substances.''.
(2) The table of subtitles for the Internal Revenue Code of
1986 is amended by adding at the end the following new item:
``Subtitle L--Greenhouse Gas Emission Substances.''.
(3) The table of sections for subchapter A of chapter 98 of
such Code is amended by adding at the end the following:
``Sec. 9511. Climate Protection and Economic Security Trust Fund.''.
(f) Effective Date.--The amendments made by this section shall
apply with respect to the sale of any greenhouse gas emission substance
after December 31, 2010.
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