II 112th CONGRESS 2d Session S. 3428 IN THE SENATE OF THE UNITED STATES July 24, 2012 Mr. Cardin introduced the following bill; which was read twice and referred to the Committee on Environment and Public Works A BILL To amend the Clean Air Act to partially waive the renewable fuel standard when corn inventories are low.

1.

Short title

This Act may be cited as the Renewable Fuel Standard Flexibility Act.

2.

Partial Waiver of renewable fuel standard

Section 211(o)(7) of the Clean Air Act (42 U.S.C. 7545(o)(7)) is amended by adding at the end the following: (G)

Consideration of Corn Inventories

(i)

Determinations regarding corn stocks-to-use ratio

Not later than November 30 of each year, the Administrator shall determine and publish the estimated United States corn stocks-to-use ratio for the applicable crop year— (I)in consultation with the Secretary of Agriculture; and (II)based on the most recent publication of the World Agricultural Supply and Demand Estimate or other similar authoritative estimate issued or used by the Secretary of Agriculture. (ii)

Waiver

Based on the most recent determination of the Administrator under clause (i), the Administrator shall waive the requirements of paragraph (2) by reducing the national quantity of renewable fuel otherwise required for a period as follows: United States Corn Stocks-to-Use Ratio for the Applicable Crop Year (percent)Reduction in national quantity of renewable fuel required Above 10.0No adjustment 10.0–7.510 percent reduction 7.49–6.015 percent reduction 5.99–5.025 percent reduction Below 5.050 percent reduction. (iii)

Duration

A waiver under clause (ii) that is based on a determination under clause (i) that is made not later than November 30 of a calendar year shall— (I)take effect on the date that is 30 days after the date on which the determination is published; and (II)remain in effect for the following calendar year. (iv)

Adjustment of renewable fuel obligation

On granting a waiver under clause (ii) that reduces the national quantity of renewable fuel required for a period to which paragraph (3) applies, the Administrator shall adjust the renewable fuel obligation determined under paragraph (3) in proportion to the reduction. (v)

No effect on required volume of advanced biofuel

(I)

In general

A waiver granted under this subparagraph that reduces the national quantity of renewable fuel required for a period shall not affect the volume of advanced biofuel required under paragraph (2). (II)

Applicability

The Administrator shall not allow any volume of conventional biofuel to be used to satisfy the requirement for advanced biofuel under paragraph (2). (vi)

Publication

The Administrator shall publish each waiver under clause (ii) in the Federal Register, including an explanation of the basis for the waiver. .