[Congressional Record Volume 170, Number 146 (Thursday, September 19, 2024)]
[Senate]
[Pages S6212-S6222]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS
______
By Mr. DURBIN:
Mr. DURBIN. Madam President, I ask unanimous consent that the text of
the bill be printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 5107. A bill to amend the Internal Revenue Code of 1986 to
establish a carbon fee to reduce greenhouse gas emissions, and for
other purposes; to the Committee on Finance.
Mr. DURBIN. Madam President, I ask unanimous consent that the text of
the bill be printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 5107
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 ``America's Clean Future Fund
Act''.
SEC. 2. CLIMATE CHANGE FINANCE CORPORATION.
(a) Establishment.--
(1) In general.--There is established in the executive
branch an independent agency, to be known as the ``Climate
Change Finance Corporation'' (referred to in this section as
the ``C2FC''), which shall finance clean energy and climate
change resiliency activities in accordance with this section.
[[Page S6213]]
(2) Mission.--The mission of the C2FC is to combat climate
change by reducing the dependency of the United States on
fossil fuels, reducing greenhouse gas emissions, and building
resilience to the harmful impacts of climate change.
(3) Activities.--
(A) In general.--The C2FC shall reduce the reliance of the
United States on fossil fuels and mitigate the impacts of
climate change by financing--
(i) the deployment of low- and zero-emissions energy
technologies and fuels;
(ii) the construction of climate-resilient infrastructure;
(iii) research, development, and commercialization of new
climate-smart technologies and tools to facilitate industrial
decarbonization;
(iv) clean energy and climate projects identified as too
high-risk for private capital investment; and
(v) projects that encourage the infusion of private capital
and the creation of new workforce opportunities in clean
transportation, energy, and climate resiliency.
(B) Priority.--In carrying out activities under
subparagraph (A), the C2FC shall give priority to projects
that benefit--
(i) communities disproportionately facing the harmful
impacts of climate change;
(ii) communities that have been historically overburdened
by industrial pollution from carbon-intensive industries; and
(iii) communities that have historically relied on carbon-
intensive industries for economic support.
(C) Emissions reduction goals.--In carrying out activities
under subparagraph (A), the goals of the C2FC shall be to
achieve--
(i) by 2030, a net reduction of greenhouse gas emissions by
45 percent, based on 2018 levels; and
(ii) by 2050, a net reduction of greenhouse gas emissions
by 100 percent, based on 2018 levels.
(4) Exercise of powers.--Except as otherwise provided
expressly by law, all Federal laws dealing with public or
Federal contracts, property, works, officers, employees,
budgets, or funds, including the provisions of chapters 5 and
7 of title 5, United States Code, shall apply to the exercise
of the powers of the C2FC.
(b) Board of Directors.--
(1) In general.--The management of the C2FC shall be vested
in a Board of Directors (referred to in this section as the
``Board'') consisting of 7 members, who shall be appointed by
the President, by and with the advice and consent of the
Senate.
(2) Chairperson and vice chairperson.--
(A) In general.--A Chairperson and Vice Chairperson of the
Board shall be appointed by the President, by and with the
advice and consent of the Senate, from among the individuals
appointed to the Board under paragraph (1).
(B) Term.--An individual--
(i) shall serve as Chairperson or Vice Chairperson of the
Board for a 3-year term; and
(ii) may be renominated for the position until the term of
that individual on the Board under paragraph (3)(C) expires.
(3) Board members.--
(A) Citizenship required.--Each member of the Board shall
be an individual who is a citizen of the United States.
(B) Representation.--The members of the Board shall
represent agricultural, educational, research, industrial,
nongovernmental, labor, environmental justice, and commercial
interests throughout the United States.
(C) Term.--
(i) In general.--Except as otherwise provided in this
section, each member of the Board--
(I) shall be appointed for a term of 6 years; and
(II) may be reappointed for 1 additional term.
(ii) Initial staggered terms.--Of the members first
appointed to the Board--
(I) 2 shall each be appointed for a term of 2 years;
(II) 3 shall each be appointed for a term of 4 years; and
(III) 2 shall each be appointed for a term of 6 years.
(4) Initial meeting.--Not later than 30 days after the date
on which all members of the Board are appointed under
paragraph (1), the Board shall hold an initial meeting.
(c) Working Groups.--
(1) In general.--The Board shall create, oversee, and
incorporate feedback from the following working groups (each
referred to in this section as a ``working group''):
(A) An environmental justice working group.
(B) A worker and community transition assistance working
group.
(C) A research and innovation working group.
(2) Working group members.--
(A) In general.--Each working group shall--
(i) be chaired by a Board member; and
(ii) comprise not less than 10 and not more than 20
individuals, who shall be experts, members of directly
impacted communities relating to the subject matter of the
working group, and other relevant stakeholders.
(B) Diversity.--Individuals on a working group shall, to
the maximum extent practicable, represent--
(i) a diverse array of interests related to the subject
matter of the working group; and
(ii) diverse geographical, racial, religious, gender,
educational, age, disability, and socioeconomic backgrounds.
(3) Meetings.--Each working group shall meet not less than
2 times per year.
(4) Community and stakeholder engagement.--
(A) In general.--Each working group shall create and engage
in meaningful community and stakeholder involvement
opportunities, including through regular public community
engagement activities, for purposes of--
(i) maintaining up-to-date situational awareness about the
needs of relevant communities and stakeholders;
(ii) using the feedback obtained through those
opportunities to inform the advice of the working group to
the Board; and
(iii) providing a mechanism for direct and substantial
community feedback relating to the investment plan and the
funding decisions of the C2FC.
(B) Public awareness.--Each working group shall inform the
public about C2FC investment by engaging in public awareness
campaigns, which shall target relevant communities through
comprehensive and accessible outreach methods suited for the
relevant community.
(C) Broad participation.--In carrying out subparagraph (A),
each working group shall, to the maximum extent practicable,
maximize participation from a broad group of stakeholders,
including by holding multiple meetings with significant
advance notice, providing access to remote participation in
those meetings, and holding meetings in multiple languages
and at different times and locations.
(5) Tasks.--Each working group shall, as it relates to the
subject matter of the working group--
(A) advise and provide general input to the Board regarding
loans and grants provided by the C2FC; and
(B) consult with, and based on the activities described in
paragraph (4), provide recommendations to, the Board in the
development of and updates to the investment plan of the
C2FC.
(d) Investment Plan.--
(1) In general.--The Board, in consultation with each
working group described in subsection (c)(1), shall develop
an investment plan (referred to in this subsection as the
``investment plan'') for the C2FC in accordance with this
subsection.
(2) Purposes.--The purposes of the investment plan are--
(A) to ensure that investments made by the C2FC--
(i) are equitable and reach the prioritized communities
described in subsection (e)(2);
(ii) are effective at progressing towards the goals
described in subsection (a)(3)(C);
(iii) support the advancement of research in clean
technologies and resilience; and
(iv) are transparent to the prioritized communities
described in subsection (e)(2); and
(B) to provide methods and standards by which the Board and
the working groups described in subsection (c)(1) shall
choose projects in which to invest.
(3) Distribution of grant funds.--The initial investment
plan shall require that, of the total amount of grant funds
provided under subsection (e)(3)(A) each year, not less than
40 percent shall be used to invest in and benefit communities
described in subsection (e)(2)(A).
(4) Investment plan updates.--
(A) In general.--The Board, in consultation with each
working group described in subsection (c)(1), shall update
the investment plan not later than 1 year after the date of
enactment of this Act, and every 4 years thereafter,
including by taking into account--
(i) the current needs of the prioritized communities
described in subsection (e)(2);
(ii) the effectiveness of the previous investment plan in
addressing the needs of those communities;
(iii) the current state of relevant research and
technology;
(iv) the resiliency needs of local communities;
(v) the goals described in subsection (a)(3)(C); and
(vi) the 2 most recent program reviews conducted under
subsection (f).
(B) Effectiveness.--An investment plan shall remain in
effect until the date on which the Board approves an updated
investment plan.
(C) Public input.--In updating the investment plan, the
Board and the working groups described in subsection (c)(1)
shall--
(i) engage stakeholders and the public in a public comment
and feedback process; and
(ii) ensure that the prioritized communities described in
subsection (e)(2) have access to participate in that process.
(5) Public updates.--The Board shall make publicly
available on a quarterly basis information relating to the
expenditure of funds under the investment plan.
(e) Investment Tools.--
(1) Definitions.--In this subsection:
(A) Community of color.--The term ``community of color''
means a geographically distinct area in which the population
of any of the following categories of individuals is higher
than the average population of that category for the State in
which the community is located:
(i) Black.
(ii) African American.
(iii) Asian.
(iv) Pacific Islander.
[[Page S6214]]
(v) Other non-White race.
(vi) Hispanic.
(vii) Latino.
(viii) Linguistically isolated.
(B) Eligible borrower.--The term ``eligible borrower''
means any person, including a business owner or project
developer, that seeks a loan to carry out approved practices
or projects described in subparagraph (A)(i) of paragraph (3)
from an eligible lender that may receive a loan guarantee
under that paragraph for that loan, according to criteria
determined by the C2FC.
(C) Eligible entity.--The term ``eligible entity'' means--
(i) a State;
(ii) an Indian Tribe;
(iii) a unit of local government; and
(iv) a research and development institution (including a
National Laboratory).
(D) Eligible lender.--The term ``eligible lender'' means--
(i) a Federal- or State-chartered bank;
(ii) a Federal- or State-chartered credit union;
(iii) an agricultural credit corporation;
(iv) a United States Green Bank Institution;
(v) a community development financial institution (as
defined in section 103 of the Community Development Banking
and Financial Institutions Act of 1994 (12 U.S.C. 4702));
(vi) a minority depository institution (as defined in
section 308(b) of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 note;
Public Law 101-73)); and
(vii) any other lender that the Board determines has a
demonstrated ability to underwrite and service loans for the
intended approved practice for which the loan will be used.
(E) Environmental justice community.--The term
``environmental justice community'' means a community with
significant representation of communities of color, low-
income communities, or Tribal and indigenous communities that
experiences, or is at risk of experiencing, higher or more
adverse human health or environmental effects.
(F) Indian tribe.--The term ``Indian Tribe'' has the
meaning given the term in section 4 of the Indian Self-
Determination and Education Assistance Act (25 U.S.C. 5304).
(G) Low-income community.--The term ``low-income
community'' means any census block group in which 30 percent
or more of the population are individuals with an annual
household income equal to, or less than, the greater of--
(i) an amount equal to 80 percent of the median income of
the area in which the household is located, as reported by
the Department of Housing and Urban Development; and
(ii) 200 percent of the Federal poverty line.
(H) State.--The term ``State'' means--
(i) a State;
(ii) the District of Columbia;
(iii) the Commonwealth of Puerto Rico; and
(iv) any other territory or possession of the United
States.
(2) Community prioritization.--In providing financial
investment and other assistance under paragraph (3), the C2FC
shall give priority to, as determined by the C2FC--
(A) environmental justice communities, communities of
color, indigenous communities, rural communities, and low-
income communities that--
(i) experience a disproportionate burden of the negative
human health and environmental impacts of pollution or other
environmental hazards, such as natural disasters; or
(ii) may not have access to public information and
opportunities for meaningful public participation relating to
human health and environmental planning, regulations, and
enforcement;
(B) deindustrialized communities or communities with
significant local economic reliance on carbon-intensive
industries;
(C) low-income communities at risk of impacts of natural
disasters or sea level rise exacerbated by climate change;
(D) public or nonprofit entities that serve dislocated
workers, veterans, or individuals with a barrier to
employment; and
(E) communities that have minimal or no investment in the
approved practices and projects described in paragraph
(3)(A)(i).
(3) Grants, loan guarantees, and other investment tools.--
(A) In general.--The C2FC--
(i) shall provide grants to eligible entities and loan
guarantees to eligible lenders issuing loans to eligible
borrowers for approved practices and projects relating to
climate change mitigation and resilience measures,
including--
(I) energy efficiency upgrades to infrastructure;
(II) electric, hydrogen, and clean transportation programs
and deployment, including programs--
(aa) to purchase personal vehicles, commercial vehicles,
and public transportation fleets and school bus fleets;
(bb) to deploy electric vehicle charging and hydrogen
fueling infrastructure; and
(cc) to develop and deploy sustainable aviation fuels;
(III) clean energy and clean vehicle manufacturing
research, demonstrations, and deployment, with a particular
focus on projects relating to the commercialization of new
technologies;
(IV) battery storage research, demonstrations, and
deployment;
(V) development or purchase of equipment for practices
described in section 6;
(VI) development and deployment of clean energy and clean
technologies, with a focus on--
(aa) carbon capture, utilization, and sequestration,
bioenergy with carbon capture and sequestration, and direct
air capture;
(bb) energy storage and grid modernization;
(cc) geothermal energy;
(dd) commercial and residential solar;
(ee) wind energy; and
(ff) any other clean technology use or development, as
determined by the Board;
(VII) measures that anticipate and prepare for climate
change impacts, and reduce risks and enhance resilience to
sea level rise, extreme weather events, heat island impacts,
and other climate change impacts, as determined by the Board,
including by--
(aa) building resilient energy, water, and transportation
infrastructure;
(bb) providing weatherization assistance for low-income
households; and
(cc) increasing the physical and economic resilience of the
agriculture sector; and
(VIII) natural infrastructure research, demonstrations, and
deployment; and
(ii) may implement other investment tools and products
approved by the Board, pursuant to subparagraph (C), to
achieve the mission of the C2FC described in subsection
(a)(2).
(B) Loan guarantees.--
(i) In general.--In providing loan guarantees under
subparagraph (A), the C2FC shall cooperate with eligible
lenders through agreements to participate on a deferred
(guaranteed) basis.
(ii) Level of participation in guaranteed loans.--In
providing a loan guarantee under subparagraph (A), the C2FC
shall guarantee 75 percent of the balance of the financing
outstanding at the time of disbursement of the loan.
(iii) Interest rates.--Notwithstanding the provisions of
the constitution of any State or the laws of any State
limiting the rate or amount of interest that may be charged,
taken, received, or reserved, the maximum legal rate of
interest on any financing made on a deferred basis under this
subsection shall not exceed a rate prescribed by the C2FC.
(iv) Guarantee fees.--
(I) In general.--With respect to each loan guaranteed under
this subsection (other than a loan that is repayable in 1
year or less), the C2FC shall collect a guarantee fee, which
shall be payable by the eligible lender, and may be charged
to the eligible borrower in accordance with subclause (II).
(II) Borrower charges.--A guarantee fee described in
subclause (I) charged to an eligible borrower shall not--
(aa) exceed 2 percent of the deferred participation share
of a total loan amount that is equal to or less than
$150,000;
(bb) exceed 3 percent of the deferred participation share
of a total loan amount that is greater than $150,000 but less
than $700,000; or
(cc) exceed 3.5 percent of the deferred participation share
of a total loan amount that is equal to or greater than
$700,000.
(C) Other investment tools and products.--
(i) In general.--The Board may, based on market needs,
develop and implement any other investment tool or product
necessary to achieve the mission of the C2FC described in
subsection (a)(2) and the deployment of projects described in
subparagraph (A)(i), including offering--
(I) warehousing and aggregation credit facilities;
(II) zero interest loans;
(III) credit enhancements; and
(IV) construction finance.
(ii) State and local green banks.--The Board shall
provide--
(I) funds to United States Green Bank Institutions as
necessary to finance projects that are best served by those
entities; and
(II) technical assistance as necessary to States and
localities seeking to establish green banks.
(D) Prohibited investments.--The Board shall not issue
loans, grants, or otherwise invest in any activities that
directly or indirectly contradict the mission of the C2FC
described in subsection (a)(2).
(4) Wage rate requirements.--
(A) In general.--All laborers and mechanics employed by
eligible entities and eligible borrowers on projects funded
directly by or assisted in whole or in part by the activities
of the C2FC under this section shall be paid at wages at
rates not less than those prevailing on projects of a similar
character in the locality as determined by the Secretary of
Labor in accordance with subchapter IV of chapter 31 of title
40, United States Code (commonly known as the ``Davis-Bacon
Act'').
(B) Authority.--With respect to the labor standards
specified in subparagraph (A), the Secretary of Labor shall
have the authority and functions set forth in Reorganization
Plan Numbered 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and
section 3145 of title 40, United States Code.
(5) Buy america requirements.--
(A) In general.--All iron, steel, and manufactured goods
used for projects under this section shall be produced in the
United States.
(B) Waiver.--The Board may waive the requirement in
subparagraph (A) if the Board finds that--
[[Page S6215]]
(i) enforcing the requirement would be inconsistent with
the public interest;
(ii) the iron, steel, and manufactured goods produced in
the United States are not produced in a sufficient and
reasonably available amount or are not of a satisfactory
quality; or
(iii) enforcing the requirement will increase the overall
cost of the project by more than 25 percent.
(f) Program Review and Report.--Not later than 2 years
after the date of enactment of this Act, and every 2 years
thereafter, the Board shall--
(1) conduct a review of the activities of the C2FC and
identify projects and funding opportunities that were a part
of the current investment plan; and
(2) submit to Congress and make publicly available a report
that--
(A) describes the projects and funding opportunities that
have been most successful in progressing towards the mission
described in subsection (a)(2) during the time period covered
by the report;
(B) includes recommendations on the clean energy and
resiliency projects that should be prioritized in forthcoming
years to achieve that mission;
(C) quantifies the total amount and percentage of funding
given to prioritized communities described in subsection
(e)(2); and
(D) identifies barriers for disadvantaged groups to receive
C2FC funding and provides recommendations to address those
barriers.
(g) Initial Capitalization.--There is appropriated to carry
out this section (including for administrative costs of the
C2FC), out of any funds in the Treasury not otherwise
appropriated, $7,500,000,000 for each of fiscal years 2025
and 2026, to remain available until expended.
SEC. 3. CARBON FEE.
(a) In General.--Chapter 38 of subtitle D of the Internal
Revenue Code of 1986 is amended by adding at the end the
following new subchapter:
``Subchapter E--Carbon Fee
``Sec. 4691. Definitions.
``Sec. 4692. Carbon fee.
``Sec. 4693. Fee on noncovered fuel emissions.
``Sec. 4694. Refunds for carbon capture, sequestration, and
utilization.
``Sec. 4695. Border adjustments.
``SEC. 4691. DEFINITIONS.
``For purposes of this subchapter--
``(1) Administrator.--The term `Administrator' means the
Administrator of the Environmental Protection Agency.
``(2) Carbon dioxide equivalent or co2-e.--The
term `carbon dioxide equivalent' or `CO2-e' means
the number of metric tons of carbon dioxide emissions with
the same global warming potential over a 100-year period as
one metric ton of another greenhouse gas.
``(3) Carbon-intensive product.--The term `carbon-intensive
product' means--
``(A) iron, steel, steel mill products (including pipe and
tube), aluminum, cement, glass (including flat, container,
and specialty glass and fiberglass), pulp, paper, chemicals,
or industrial ceramics, and
``(B) any manufactured product which the Secretary, in
consultation with the Administrator, the Secretary of
Commerce, and the Secretary of Energy, determines is energy-
intensive and trade-exposed (with the exception of any
covered fuel).
``(4) Covered entity.--The term `covered entity' means--
``(A) in the case of crude oil--
``(i) any operator of a United States refinery (as
described in subsection (d)(1) of section 4611), and
``(ii) any person entering such product into the United
States for consumption, use, or warehousing (as described in
subsection (d)(2) of such section),
``(B) in the case of coal--
``(i) any producer subject to the tax under section 4121,
and
``(ii) any importer of coal into the United States,
``(C) in the case of natural gas--
``(i) any entity which produces natural gas (as defined in
section 613A(e)(2)) from a well located in the United States,
and
``(ii) any importer of natural gas into the United States,
``(D) in the case of any noncovered fuel emissions, the
entity which is the source of such emissions, provided that
the total amount of carbon dioxide or methane emitted by such
entity for the preceding year (as determined using the
methodology required under section 4692(e)(4)) was not less
than 25,000 metric tons, and
``(E) any entity or class of entities which, as determined
by the Secretary, is transporting, selling, or otherwise
using a covered fuel in a manner which emits a greenhouse gas
into the atmosphere and which has not been covered by the
carbon fee, the fee on noncovered fuel emissions, or the
carbon border fee adjustment.
``(5) Covered fuel.--The term `covered fuel' means crude
oil, natural gas, coal, or any other product derived from
crude oil, natural gas, or coal which shall be used so as to
emit greenhouse gases to the atmosphere.
``(6) Greenhouse gas.--The term `greenhouse gas'--
``(A) has the meaning given such term in section 901 of the
Energy Independence and Security Act of 2007 (42 U.S.C.
17321), as in effect on the date of the enactment of the
America's Clean Future Fund Act, and
``(B) includes any other gases identified by rule of the
Administrator.
``(7) Greenhouse gas content.--The term `greenhouse gas
content' means the amount of greenhouse gases, expressed in
metric tons of CO2-e, which would be emitted to
the atmosphere by the use of a covered fuel.
``(8) Noncovered fuel emission.--The term `noncovered fuel
emission' means any carbon dioxide or methane emitted as a
result of the production, processing, transport, or use of
any product or material within the energy or industrial
sectors--
``(A) including any fugitive or process emissions
associated with the production, processing, or transport of a
covered fuel, and
``(B) excluding any emissions from the combustion or use of
a covered fuel.
``(9) Qualified carbon oxide.--The term `qualified carbon
oxide' has the meaning given the term in section 45Q(c).
``(10) United states.--The term `United States' shall be
treated as including each possession of the United States
(including the Commonwealth of Puerto Rico and the
Commonwealth of the Northern Mariana Islands).
``SEC. 4692. CARBON FEE.
``(a) Definitions.--In this section:
``(1) Applicable period.--The term `applicable period'
means, with respect to any determination made by the
Secretary under subsection (e)(3) for any calendar year, the
period--
``(A) beginning on January 1, 2026, and
``(B) ending on December 31 of the preceding calendar year.
``(2) Cumulative emissions.--The term `cumulative
emissions' means an amount equal to the sum of any greenhouse
gas emissions resulting from the use of covered fuels and any
noncovered fuel emissions for all years during the applicable
period.
``(3) Cumulative emissions target.--The term `cumulative
emissions target' means an amount equal to the sum of the
emissions targets for all years during the applicable period.
``(4) Emissions target.--The term `emissions target' means
the target for greenhouse gas emissions during a calendar
year as determined under subsection (e)(1).
``(b) Carbon Fee.--During any calendar year that begins
after December 31, 2025, there is imposed a carbon fee on any
covered entity's use, sale, or transfer of any covered fuel.
``(c) Amount of the Carbon Fee.--The carbon fee imposed by
this section is an amount equal to--
``(1) the greenhouse gas content of the covered fuel,
multiplied by
``(2) the carbon fee rate, as determined under subsection
(d).
``(d) Carbon Fee Rate.--The carbon fee rate shall be
determined in accordance with the following:
``(1) In general.--The carbon fee rate, with respect to any
use, sale, or transfer during a calendar year, shall be--
``(A) in the case of calendar year 2026, $65, and
``(B) except as provided in paragraphs (2) and (3), in the
case of any calendar year after 2026, the amount equal to the
sum of--
``(i) the amount under subparagraph (A), plus
``(ii)(I) in the case of calendar year 2027, $10, and
``(II) in the case of any calendar year after 2027, the
amount in effect under this clause for the preceding calendar
year, plus $10.
``(2) Inflation adjustment.--
``(A) In general.--In the case of any calendar year after
2026, the amount determined under paragraph (1)(B) shall be
increased by an amount equal to--
``(i) that dollar amount, multiplied by
``(ii) the cost-of-living adjustment determined under
section 1(f)(3) for that calendar year, determined by
substituting `2025' for `2016' in subparagraph (A)(ii)
thereof.
``(B) Rounding.--If any increase determined under
subparagraph (A) is not a multiple of $1, such increase shall
be rounded up to the next whole dollar amount.
``(3) Adjustment of carbon fee rate.--
``(A) Increase in rate following missed cumulative
emissions target.--In the case of any calendar year following
a determination by the Secretary pursuant to subsection
(e)(3) that the cumulative emissions for the preceding
calendar year exceeded the cumulative emissions target for
such year, paragraph (1)(B)(ii)(II) shall be applied--
``(i) in the case of calendar years 2029 through 2033, by
substituting `$15' for `$10',
``(ii) in the case of calendar years 2034 through 2043, by
substituting `$20' for `$10', and
``(iii) in the case of any calendar year beginning after
2043, by substituting `$25' for `$10'.
``(B) Cessation of rate increase following achievement of
cumulative emissions target.--In the case of any year
following a determination by the Secretary pursuant to
subsection (e)(3) that--
``(i) the average annual emissions of greenhouse gases from
covered entities over the preceding 3-year period are not
more than 10 percent of the greenhouse gas emissions during
the year 2018, and
``(ii) the cumulative emissions did not exceed the
cumulative emissions target,
paragraph (1)(B)(ii)(II) shall be applied by substituting
`$0' for `$10'.
``(C) Methodology.--With respect to any year, the annual
greenhouse gas emissions and cumulative emissions described
in subparagraph (A) or (B) shall be determined using the
methodology required under subsection (e)(4).
[[Page S6216]]
``(e) Emissions Targets.--
``(1) In general.--
``(A) Reference year.--For purposes of subsection (d), the
emissions target for any year shall be the amount of
greenhouse gas emissions that is equal to--
``(i) for calendar years 2026 and 2027, the applicable
percentage of the total amount of greenhouse gas emissions
from the use of any covered fuel during calendar year 2018,
and
``(ii) for calendar year 2028 and each calendar year
thereafter, the applicable percentage of the total amount of
greenhouse gas emissions from the use of any covered fuel and
noncovered fuel emissions during calendar year 2018.
``(B) Methodology.--For purposes of subparagraph (A), with
respect to determining the total amount of greenhouse gas
emissions from the use of any covered fuel and noncovered
fuel emissions during calendar year 2018, the Administrator
shall use such methods as are determined appropriate,
provided that such methods are, to the greatest extent
practicable, comparable to the methods established under
paragraph (4).
``(2) Applicable percentage.--
``(A) 2026 through 2035.--In the case of calendar years
2026 through 2035, the applicable percentage shall be
determined as follows:
------------------------------------------------------------------------
Applicable
``Year percentage
------------------------------------------------------------------------
2026...................................................... 67 percent
2027...................................................... 63 percent
2028...................................................... 60 percent
2029...................................................... 57 percent
2030...................................................... 55 percent
2031...................................................... 52 percent
2032...................................................... 49 percent
2033...................................................... 46 percent
2034...................................................... 43 percent
2035...................................................... 40 percent
------------------------------------------------------------------------
``(B) 2036 through 2050.--In the case of calendar years
2036 through 2050, the applicable percentage shall be equal
to--
``(i) the applicable percentage for the preceding year,
minus
``(ii) 2 percentage points.
``(C) After 2050.--In the case of any calendar year
beginning after 2050, the applicable percentage shall be
equal to 10 percent.
``(3) Emissions reporting and determinations.--
``(A) Reporting.--Not later than September 30, 2027, and
annually thereafter, the Administrator, in consultation with
the Secretary, shall make available to the public a report
on--
``(i) the cumulative emissions with respect to the
preceding calendar year, and
``(ii) any other relevant information, as determined
appropriate by the Administrator.
``(B) Determinations.--Not later than September 30, 2028,
and annually thereafter, the Administrator, in consultation
with the Secretary and as part of the report described in
subparagraph (A), shall determine whether cumulative
emissions with respect to the preceding calendar year
exceeded the cumulative emissions target with respect to such
year.
``(4) Emissions accounting methodology.--
``(A) In general.--Not later than January 1, 2026, the
Administrator shall prescribe rules for greenhouse gas
accounting for covered entities for purposes of this
subchapter, which shall--
``(i) to the greatest extent practicable, employ existing
data collection methodologies and greenhouse gas accounting
practices, including such methodologies and practices
developed by the National Laboratories (as defined in section
2 of the Energy Policy Act of 2005 (42 U.S.C. 15801)),
``(ii) ensure that the method of accounting--
``(I) applies to--
``(aa) all greenhouse gas emissions from covered fuels and
all noncovered fuel emissions, and
``(bb) all covered entities,
``(II) excludes--
``(aa) any greenhouse gas emissions which are not described
item (aa) of subclause (I), and
``(bb) any entities which are not described in item (bb) of
such subclause, and
``(III) appropriately accounts for--
``(aa) qualified carbon oxide which is captured and
disposed or used in a manner described in section 4694, and
``(bb) nonemitting uses of covered fuels, as described in
subsection (f),
``(iii) subject to such penalties as are determined
appropriate by the Administrator, require any covered entity
to report, not later than April 1 of each calendar year--
``(I) the total greenhouse gas content of any covered fuels
used, sold, or transferred by such covered entity during the
preceding calendar year, and
``(II) the total noncovered fuel emissions of the covered
entity during the preceding calendar year, and
``(iv) require any information reported pursuant to clause
(iii) to be verified by a third-party entity that, subject to
such process as is determined appropriate by the
Administrator, has been certified by the Administrator with
respect to the qualifications, independence, and reliability
of such entity.
``(B) Greenhouse gas reporting program.--For purposes of
establishing the rules described in subparagraph (A), the
Administrator may elect to modify the activities of the
Greenhouse Gas Reporting Program to satisfy the requirements
described in clauses (i) through (iv) of such subparagraph.
``(5) Revisions.--With respect to any determination made by
the Administrator as to the amount of greenhouse gas
emissions for any calendar year (including calendar year
2018), any subsequent revision by the Administrator with
respect to such amount shall apply for purposes of the fee
imposed under subsection (b) for any calendar years beginning
after such revision.
``(f) Exemption and Refund.--The Secretary shall prescribe
such rules as are necessary to ensure the carbon fee imposed
by this section is not imposed with respect to any
nonemitting use, or any sale or transfer for a nonemitting
use, including rules providing for the refund of any carbon
fee paid under this section with respect to any such use,
sale, or transfer.
``(g) Administrative Authority.--The Secretary, in
consultation with the Administrator, shall prescribe such
regulations, and other guidance, to assess and collect the
carbon fee imposed by this section, including--
``(1) the identification of covered entities that are
liable for payment of a fee under this section or section
4693,
``(2) as may be necessary or convenient, rules for
distinguishing between different types of covered entities,
``(3) as may be necessary or convenient, rules for
distinguishing between the greenhouse gas emissions of a
covered entity and the greenhouse gas emissions that are
attributed to the covered entity but not directly emitted by
the covered entity,
``(4) requirements for the quarterly payment of such fees,
and
``(5) rules to ensure that the carbon fee under this
section, the fee on noncovered fuel emissions under section
4693, or the carbon border fee adjustment is not imposed on
an emission from covered fuel or noncovered fuel emission
more than once.
``SEC. 4693. FEE ON NONCOVERED FUEL EMISSIONS.
``(a) In General.--During any calendar year that begins
after December 31, 2027, there is imposed a fee on a covered
entity for any noncovered fuel emissions which occur during
the calendar year.
``(b) Amount.--The fee to be paid under subsection (a) by
the covered entity which is the source of the emissions
described in that subsection shall be an amount equal to--
``(1) the total amount, in metric tons of CO2-e,
of emitted greenhouse gases, multiplied by
``(2) an amount equal to the carbon fee rate in effect
under section 4692(d) for the calendar year of such emission.
``(c) Administrative Authority.--The Secretary, in
consultation with the Administrator, shall prescribe such
regulations, and other guidance, to assess and collect the
carbon fee imposed by this section, including regulations
describing the requirements for the quarterly payment of such
fees.
``SEC. 4694. REFUNDS FOR CARBON CAPTURE, SEQUESTRATION, AND
UTILIZATION.
``(a) In General.--
``(1) Capture, sequestration, and use.--The Secretary, in
consultation with the Administrator and the Secretary of
Energy, shall prescribe regulations for providing payments to
any person which captures qualified carbon oxide which is--
``(A) disposed of by such person in secure geological
storage, as described in section 45Q(f)(2), or
``(B) used in a manner which has been approved by the
Secretary pursuant to subsection (c).
``(2) Election.--If the person described in paragraph (1)
makes an election under this paragraph in such time and
manner as the Secretary may prescribe by regulations, the
credit under this section--
``(A) shall be allowable to the person that owns the
facility described in subsection (b)(1), and
``(B) shall not be allowable to the person described in
paragraph (1).
``(b) Payments for Carbon Capture.--
``(1) In general.--In the case of any facility for which
carbon capture equipment has been placed in service, the
Secretary shall make payments in the same manner as if such
payment was a refund of an overpayment of the fee imposed by
section 4692 or 4693.
``(2) Amount of payment.--The payment determined under this
subsection shall be an amount equal to--
``(A) the metric tons of qualified carbon oxide captured
and disposed of, used, or utilized in a manner consistent
with subsection (a), multiplied by
``(B)(i) the carbon fee rate during the year in which the
carbon fee was imposed by section 4692 on the covered fuel to
which such carbon oxide relates, or
``(ii) in the case of a direct air capture facility (as
defined in section 45Q(e)(1)), the carbon fee rate during the
year in which the qualified carbon oxide was captured and
disposed of, used, or utilized.
``(c) Approved Uses of Qualified Carbon Oxide.--
``(1) In general.--Subject to paragraph (2), the Secretary,
in consultation with Administrator and the Secretary of
Energy, shall, through regulation or other public guidance,
determine which uses of qualified carbon oxide are eligible
for payments under this section, which may include--
``(A) utilization in a manner described in clause (i) or
(ii) of section 45Q(f)(5)(A), or
``(B) any other use which ensures minimal leakage or escape
of such carbon oxide.
``(2) Exclusion for enhanced oil or natural gas recovery.--
The sale or use of
[[Page S6217]]
qualified carbon oxide as a tertiary injectant in a qualified
enhanced oil or natural gas recovery project (as defined in
section 45Q(e)(4)) shall not be eligible for payments under
this section.
``(d) Exception.--In the case of any facility which is
owned by an entity that is determined to be--
``(1) in violation of any applicable air or water quality
regulations, or
``(2) with respect to any environmental justice community
(as defined in section 2(d)(1)(D) of the America's Clean
Future Fund Act), creating health or environmental harm to
such community,
such facility shall not be eligible for any payment under
this section during the period of such violation.
``SEC. 4695. BORDER ADJUSTMENTS.
``(a) In General.--The fees imposed by, and refunds allowed
under, this section shall be referred to as `the carbon
border fee adjustment'.
``(b) Exports.--
``(1) Carbon-intensive products.--In the case of any
carbon-intensive product which is exported from the United
States, the Secretary shall pay to the person exporting such
product a refund equal to the amount of the cost of such
product attributable to any fees imposed under this
subchapter related to the manufacturing of such product (as
determined under regulations established by the Secretary).
``(2) Covered fuels.--In the case of any covered fuel which
is exported from the United States, the Secretary shall pay
to the person exporting such fuel a refund equal to the
amount of the cost of such fuel attributable to any fees
imposed under this subchapter related to the use, sale, or
transfer of such fuel.
``(c) Imports.--
``(1) Carbon-intensive products.--
``(A) Imposition of equivalency fee.--In the case of any
carbon-intensive product imported into the United States,
there is imposed an equivalency fee on the person importing
such product in an amount equal to the cost of such product
that would be attributable to any fees imposed under this
subchapter related to the manufacturing of such product if
any inputs or processes used in manufacturing such product
were subject to such fees (as determined under regulations
established by the Secretary).
``(B) Reduction in fee.--The amount of the equivalency fee
under subparagraph (A) shall be reduced by the amount, if
any, of any fees imposed on the carbon-intensive product by
the foreign nation or governmental units from which such
product was imported.
``(2) Covered fuels.--
``(A) In general.--In the case of any covered fuel imported
into the United States, there is imposed an equivalency fee
on the person importing such fuel in an amount equal to the
amount of any fees that would be imposed under this
subchapter related to the use, sale, or transfer of such
fuel.
``(B) Reduction in fee.--The amount of the fee under
subparagraph (A) shall be reduced by the amount, if any, of
any fees imposed on the covered fuel by the foreign nation or
governmental units from which the fuel was imported.
``(d) Treatment of Alternative Policies as Fees.--Under
regulations established by the Secretary, foreign policies
that have substantially the same effect in reducing emissions
of greenhouse gases as fees shall be treated as fees for
purposes of subsections (b) and (c).
``(e) Regulatory Authority.--
``(1) In general.--The Secretary shall consult with the
Administrator, the Secretary of Commerce, and the Secretary
of Energy in establishing rules and regulations implementing
the purposes of this section.
``(2) Treaties.--The Secretary, in consultation with the
Secretary of State, may adjust the applicable amounts of the
refunds and equivalency fees under this section in a manner
that is consistent with any obligations of the United States
under an international agreement.''.
(b) Effective Date.--The amendment made by this section
shall apply to periods beginning after December 31, 2025.
SEC. 4. AMERICA'S CLEAN FUTURE FUND.
(a) In General.--Subchapter A of chapter 98 of the Internal
Revenue Code of 1986 is amended by adding at the end the
following:
``SEC. 9512. AMERICA'S CLEAN FUTURE FUND.
``(a) Establishment and Funding.--There is established in
the Treasury of the United States a trust fund to be known as
the `America's Clean Future Fund' (referred to in this
section as the `Trust Fund'), consisting of such amounts as
are appropriated to the Trust Fund under subsection (b).
``(b) Transfers to America's Clean Future Fund.--There is
appropriated to the Trust Fund, out of any funds in the
Treasury not otherwise appropriated, amounts equal to the
fees received into the Treasury under sections 4692, 4693,
and 4695, less--
``(1) any amounts refunded or paid under sections 4692(d),
4694, and 4695(b), and
``(2) for each of the first 18 fiscal years beginning after
September 30, 2026, an amount equal to the quotient of--
``(A) $100,000,000,000, and
``(B) 18.
``(c) Expenditures.--For each fiscal year, amounts in the
Trust Fund shall be apportioned as follows:
``(1) Carbon fee rebate and agricultural decarbonization
transition payments.--
``(A) Carbon fee rebate.--For the purposes described in
section 5 of the America's Clean Future Fund Act and any
expenses necessary to administer such section--
``(i) for each of the first 10 fiscal years beginning after
September 30, 2026, an amount equal to--
``(I) 75 percent of those amounts, minus
``(II) the amount determined under subparagraph (B) for
such fiscal year, and
``(ii) for any fiscal year beginning after the period
described in clause (i), the applicable percentage of such
amounts.
``(B) Agricultural decarbonization transition payments.--
For the purposes described in section 6 of the America's
Clean Future Fund Act, for each of the first 10 fiscal years
beginning after September 30, 2026, an amount equal to 7
percent of the amount determined annually under subparagraph
(A)(i)(I).
``(C) Applicable percentage.--For purposes of subparagraph
(A)(ii), the applicable percentage shall be equal to--
``(i) for the first fiscal year beginning after the period
described in subparagraph (A)(i), 76 percent,
``(ii) for each of the first 3 fiscal years subsequent to
the period described in clause (i), the applicable percentage
for the preceding fiscal year increased by 1 percentage
point, and
``(iii) for any fiscal year subsequent to the period
described in clause (ii), 80 percent.
``(2) Climate change finance corporation.--
``(A) In general.--For the purposes described in section 2
of the America's Clean Future Fund Act (including any
expenses necessary to administer such section), the
applicable percentage of such amounts.
``(B) Applicable percentage.--For purposes of this
paragraph, the applicable percentage shall be equal to--
``(i) for each of the first 10 fiscal years beginning after
the period described in subsection (e) of such section, 15
percent,
``(ii) for each of the first 4 fiscal years subsequent to
the period described in clause (i), the applicable percentage
for the preceding fiscal year increased by 1 percentage
point, and
``(iii) for any fiscal year subsequent to the period
described in clause (ii), 20 percent.
``(3) Transition assistance for impacted communities.--
``(A) In general.--For the purposes described in section 7
of the America's Clean Future Fund Act (including any
expenses necessary to administer such section), the
applicable percentage of such amounts.
``(B) Applicable percentage.--For purposes of this
paragraph, the applicable percentage shall be equal to--
``(i) for each of the first 10 fiscal years beginning after
September 30, 2026, 10 percent,
``(ii) for each of the first 4 fiscal years subsequent to
the period described in clause (i), the applicable percentage
for the preceding fiscal year reduced by 2 percentage points,
and
``(iii) for any fiscal year subsequent to the period
described in clause (ii), 0 percent.''.
(b) Clerical Amendment.--The table of sections for
subchapter A of chapter 98 of the Internal Revenue Code of
1986 is amended by adding at the end the following new item:
``Sec. 9512. America's Clean Future Fund.''.
SEC. 5. AMERICA'S CLEAN FUTURE FUND STIMULUS.
(a) Eligible Individual.--
(1) In general.--In this section, the term ``eligible
individual'' means, with respect to any quarter, any natural
living person--
(A) who has a valid Social Security number or taxpayer
identification number,
(B) who has attained 18 years of age, and
(C) whose principal place of abode is in the United States
for more than one-half of the most recent taxable year for
which a return has been filed.
(2) Verification.--The Secretary of the Treasury, or the
Secretary's delegate (referred to in this section as the
``Secretary'') may verify the eligibility of an individual to
receive a carbon fee rebate payment under subsection (b).
(b) Rebates.--Subject to subsections (c)(2) and (k), from
amounts in the America's Clean Future Fund established by
section 9512(c)(1)(A) of the Internal Revenue Code of 1986
that are available in any year, the Secretary shall, for each
calendar quarter beginning after September 30, 2026, make
carbon fee rebate payments to each eligible individual, to be
known as ``America's Clean Future Fund Stimulus payments''
(referred to in this section as ``carbon fee rebate
payments'').
(c) Pro-rata Share.--
(1) In general.--With respect to each quarter during any
fiscal year beginning after September 30, 2026, the carbon
fee rebate payment is 1 pro-rata share for each eligible
individual of an amount equal to 25 percent of amounts
apportioned under section 9512(c)(1)(A) of the Internal
Revenue Code of 1986 for such fiscal year.
(2) Initial annual rebate payments.--
(A) In general.--From amounts appropriated under subsection
(j), the Secretary shall, for each of fiscal years 2025 and
2026, make carbon fee rebate payments to each eligible
individual during the third quarter of each such fiscal year.
(B) Pro-rata share.--For purposes of this paragraph, the
carbon fee rebate payment is 1 pro-rata share for each
eligible individual of the amount appropriated under
subsection (j) for the fiscal year.
(3) Estimate.--For each fiscal year described in paragraph
(1), the Secretary shall,
[[Page S6218]]
not later than the first day of such fiscal year, publicly
announce an estimate of the amount of the carbon fee rebate
payment for each quarter during such fiscal year.
(d) Phaseout.--
(1) Definitions.--In this subsection:
(A) Modified adjusted gross income.--The term ``modified
adjusted gross income'' means adjusted gross income increased
by any amount excluded from gross income under section 911,
931, or 933 of the Internal Revenue Code of 1986.
(B) Household member.--The term ``household member of the
taxpayer'' means the taxpayer, the taxpayer's spouse, and any
dependent of the taxpayer.
(C) Threshold amount.--The term ``threshold amount''
means--
(i) $150,000 in the case of a taxpayer filing a joint
return, and
(ii) $75,000 in the case of a taxpayer not filing a joint
return.
(2) Phaseout of payments.--In the case of any taxpayer
whose modified adjusted gross income for the most recent
taxable year for which a return has been filed exceeds the
threshold amount, the amount of the carbon fee rebate payment
otherwise payable to any household member of the taxpayer
under this section shall be reduced (but not below zero) by a
dollar amount equal to 5 percent of such payment (as
determined before application of this paragraph) for each
$1,000 (or fraction thereof) by which the modified adjusted
gross income of the taxpayer exceeds the threshold amount.
(e) Fee Treatment of Payments.--Amounts paid under this
section shall not be includible in gross income for purposes
of Federal income taxes.
(f) Federal Programs and Federal Assisted Programs.--The
carbon fee rebate payment received by any eligible individual
shall not be taken into account as income and shall not be
taken into account as resources for purposes of determining
the eligibility of such individual or any other individual
for benefits or assistance, or the amount or extent of
benefits or assistance, under any Federal program or under
any State or local program financed in whole or in part with
Federal funds.
(g) Disclosure of Return Information.--Section 6103(l) of
the Internal Revenue Code of 1986 is amended by adding at the
end the following new paragraph:
``(23) Disclosure of return information relating to carbon
fee rebate payments.--
``(A) Department of treasury.--Return information with
respect to any taxpayer shall, without written request, be
open to inspection by or disclosure to officers and employees
of the Department of the Treasury whose official duties
require such inspection or disclosure for purposes of
administering section 5 of the America's Clean Future Fund
Act.
``(B) Restriction on disclosure.--Information disclosed
under this paragraph shall be disclosed only for purposes of,
and to the extent necessary in, carrying out such section.''.
(h) Regulations.--The Secretary shall prescribe such
regulations, and other guidance, as may be necessary to carry
out the purposes of this section, including--
(1) establishment of rules for eligible individuals who
have not filed a recent tax return, and
(2) in coordination with the Commissioner of Social
Security, the Secretary of Veterans Affairs, and any relevant
State agencies, establish methods to identify eligible
individuals and provide carbon fee rebate payments to such
individuals through appropriate means of distribution,
including through the use of electronic benefit transfer
cards.
(i) Public Awareness Campaign.--The Secretary shall conduct
a public awareness campaign, in coordination with the
Commissioner of Social Security, the heads of other relevant
Federal agencies, and Indian Tribes (as defined in section 4
of the Indian Self-Determination and Education Assistance Act
(25 U.S.C. 5304)), to provide information to the public
regarding the availability of carbon fee rebate payments
under this section.
(j) Initial Appropriation.--For purposes of subsection
(c)(2), there is appropriated, out of any funds in the
Treasury not otherwise appropriated, to remain available
until expended--
(1) for the fiscal year ending September 30, 2025,
$37,500,000,000, and
(2) for the fiscal year ending September 30, 2026,
$37,500,000,000.
(k) Termination.--This section shall not apply to any
calendar quarter beginning after--
(1) a determination by the Secretary under section
4692(d)(3)(B) of the Internal Revenue Code of 1986; or
(2) any period of 8 consecutive calendar quarters for which
the amount of carbon fee rebate payment (without application
of subsection (d)) during each such quarter is less than $20.
SEC. 6. AGRICULTURAL DECARBONIZATION TRANSITION PAYMENTS.
(a) Purposes.--The purposes of this section are--
(1) to provide transition assistance to eligible producers
in the agricultural sector to prepare for and facilitate
entry into greenhouse gas credit markets; and
(2) to provide for the collection and reporting of data
under subsection (d).
(b) Definitions.--In this section:
(1) Eligible land.--The term ``eligible land'' means land
in the United States, including territories of the United
States and Indian land (as defined in section 2601 of the
Energy Policy Act of 1992 (25 U.S.C. 3501)), that has a
cropping or livestock history during each of the 3 years
preceding the date on which a payment is provided under the
program with respect to the land, as determined by the
Secretary.
(2) Eligible producer.--The term ``eligible producer''
means an individual or legal entity that--
(A) is an owner, operator, or tenant of eligible land; and
(B) has the ability to enter into an agreement with the
Secretary to carry out qualifying actions described in
subsection (c)(2) under the program.
(3) Greenhouse gas emissions reduction.--The term
``greenhouse gas emissions reduction'' means the reduction in
greenhouse gas emissions as a result of the adoption of
qualifying actions described in subsection (c)(2), as
compared to an historical baseline.
(4) Program.--The term ``program'' means the program
established under subsection (c)(1).
(5) Secretary.--The term ``Secretary'' means the Secretary
of Agriculture.
(6) Traditionally underserved.--The term ``traditionally
underserved'', with respect to an eligible producer, means
that the eligible producer--
(A) has been socially or economically disadvantaged by
previous discriminatory laws or policies based on race,
ethnicity, or disability;
(B) is new to agriculture, as determined by the Secretary;
(C)(i) has served in the United States Armed Forces; and
(ii)(I) has not operated an agriculture operation;
(II) is new to agriculture, as determined by the Secretary;
or
(III) first obtained veteran status during the previous 5-
year period;
(D) is an owner, operator, or tenant of a limited resource
agriculture operation; or
(E) has a household income not greater than the national
poverty level.
(c) Establishment of Program.--
(1) In general.--The Secretary shall establish a program to
provide payments to eligible producers that will assist with
reducing greenhouse gas emissions through the adoption of
qualifying actions described in paragraph (2).
(2) Qualifying actions.--
(A) In general.--The Secretary shall determine actions that
qualify for payments under the program.
(B) Requirements.--To be a qualifying action under
subparagraph (A), an action shall be--
(i) a climate-smart practice, including--
(I) a practice determined by a land-grant college or
university (as defined in section 1404 of the National
Agricultural Research, Extension, and Teaching Policy Act of
1977 (7 U.S.C. 3103)); or
(II) climate-smart energy generation, fueling, or
efficiency; and
(ii) measurable, reportable, and verifiable for reducing
greenhouse gas emissions, as determined by the Secretary.
(3) Considerations.--In determining the rate and duration
of a payment under paragraph (1), the Secretary shall
consider--
(A) the degree of additionality of the greenhouse gas
emissions reduction;
(B) whether the recipient of the payment was an early
adopter of 1 or more practices that reduce greenhouse gas
emissions;
(C) the likelihood that the applicable qualifying action
described in paragraph (2) would have been carried out absent
the provision of the payment;
(D) the degree of transitionality or permanence of the
greenhouse gas emissions reduction;
(E) whether the applicable qualifying action described in
paragraph (2) provides multiple environmental and health co-
benefits in addition to reduced greenhouse gas emissions;
(F) the degree to which the recipient of the payment is a
traditionally underserved eligible producer;
(G) the integration with and enhancement of payments and
policies of similar Federal, State, or local programs; and
(H) any payments received, or to be received, by the
applicable eligible producer from a similar Federal, State,
or local program for applicable qualifying actions described
in paragraph (2).
(4) Ineligibility.--A person that is determined to be in
violation of any applicable water or air quality regulation,
including under the Federal Water Pollution Control Act (33
U.S.C. 1251 et seq.) (including regulations), shall not be
eligible for any payment under paragraph (1) during the
period of the violation.
(5) Effectiveness.--The authority to provide payments under
this subsection shall be effective for each of the first 10
fiscal years beginning after September 30, 2025.
(d) Collection of Data and Reporting.--
(1) Measurement system.--The Secretary shall use an
outcomes-based measurement system that uses the best
available science and technology for cost-effective
recordkeeping, modeling, and measurement of farm-level
greenhouse gas emissions on eligible land enrolled in the
program.
(2) Inventory.--
(A) In general.--For the purposes of providing payments
under the program, the Secretary shall conduct a nationwide
soil health and agricultural greenhouse gas emissions
inventory that uses the best available science and data to
establish baselines and expected average performance for soil
carbon
[[Page S6219]]
drawdown and storage and greenhouse gas emissions reduction
by primary production type and production region.
(B) Database.--The Secretary shall--
(i) establish an accessible and interoperable database for
the inventory established under subparagraph (A) using the
measurement system established under paragraph (1); and
(ii) improve and update the database as new data is
collected, but not less frequently than once every 2 years.
(3) Criteria.--
(A) In general.--The Secretary shall establish criteria for
payments under the program to inform policy and markets
established to promote greenhouse gas emissions reductions.
(B) Requirements.--The criteria established under
subparagraph (A) shall--
(i) have a documented likelihood of providing long-term net
greenhouse gas emissions reductions, according to the best
available science;
(ii) be based in part on environmental impact modeling of
the changes of shifting from baseline practices to new or
improved practices; and
(iii) prevent, to the maximum extent practicable, the
degradation of other natural resource or environmental
conditions.
(4) Measurement, reporting, monitoring, and verification
services.--
(A) In general.--The Secretary--
(i) shall provide services described in subparagraph (B) to
eligible producers participating in the program; and
(ii) may approve and provide oversight of 1 or more third-
party agents to provide services described in subparagraph
(B) to eligible producers participating in the program.
(B) Services described.--Services referred to in
subparagraph (A) are determining the greenhouse gas emissions
reduction by--
(i) measurement;
(ii) reporting;
(iii) monitoring; and
(iv) verification.
(C) Use of protocols.--Services referred to in subparagraph
(A) shall be provided using--
(i) the measurement system described in paragraph (1); and
(ii) the criteria described in paragraph (3).
(D) Privacy and data security.--
(i) In general.--The Secretary shall establish--
(I) safeguards to protect the privacy of information that
is submitted through or retained by a third-party agent
approved under subparagraph (A), including employees and
contractors of the third-party agent; and
(II) such other rules and standards of data security as the
Secretary determines to be appropriate to carry out this
subsection.
(ii) Penalties.--The Secretary shall establish penalties
for any violations of privacy or confidentiality under clause
(i).
(E) Disclosure of information.--
(i) Public disclosure.--Information collected for purposes
of services provided under subparagraph (A) may be disclosed
to the public--
(I) if the information is transformed into a statistical or
aggregate form such that the information does not include any
identifiable or personal information of individual producers;
or
(II) in a form that may include identifiable or personal
information of a producer only if that producer consents to
the disclosure of the information.
(ii) Research, audit, and program improvement.--Information
collected for the purposes of services provided under
subparagraph (A) may be disclosed for the purposes of
providing technical assistance, including audit, research, or
improvement of a program under this section, either in
aggregate or in a form that includes identifiable or personal
information of a producer, if the Secretary obtains adequate
assurances that--
(I) the recipient shall ensure privacy safeguards of
identifiable or personal information of a producer; and
(II) the release of any data to the public will only occur
only if the data has been transformed into a statistical or
aggregate form.
(e) Regulations.--Not later than July 1, 2025, the
Secretary shall promulgate regulations to carry out this
section, including--
(1) the amount of a payment under subsection (c), which
shall be based on--
(A) the quantity of carbon dioxide equivalent emissions
reduced; and
(B) the considerations described in subsection (c)(3);
(2) a methodology that any third-party agents approved
under subsection (d)(4)(A)(ii) shall use to provide the
services under that subsection, including--
(A) an accreditation process; and
(B) a conflict of interest policy; and
(3) provisions for the ownership and transportability of
data, including historical data, generated by an eligible
producer for the purpose of determining eligibility for
payments under the program.
SEC. 7. TRANSITION ASSISTANCE FOR IMPACTED COMMUNITIES.
(a) Definitions.--In this section:
(1) Indian tribe.--The term ``Indian Tribe'' has the
meaning given the term in section 4 of the Indian Self-
Determination and Education Assistance Act (25 U.S.C. 5304).
(2) Individual with a barrier to employment.--The term
``individual with a barrier to employment'' has the meaning
given the term in section 3 of the Workforce Innovation and
Opportunity Act (29 U.S.C. 3102).
(3) Institution of higher education.--The term
``institution of higher education'' has the meaning given the
term in section 101 of the Higher Education Act of 1965 (20
U.S.C. 1001).
(4) Local board.--The term ``local board'' has the meaning
given the term in section 3 of the Workforce Innovation and
Opportunity Act (29 U.S.C. 3102).
(5) Recognized postsecondary credential.--The term
``recognized postsecondary credential'' has the meaning given
the term in section 3 of the Workforce Innovation and
Opportunity Act (29 U.S.C. 3102).
(6) Secretary.--The term ``Secretary'' means the Secretary
of Commerce, acting through the Assistant Secretary of
Commerce for Economic Development.
(7) State.--The term ``State'' means--
(A) a State;
(B) the District of Columbia;
(C) the Commonwealth of Puerto Rico; and
(D) any other territory or possession of the United States.
(8) State board.--The term ``State board'' has the meaning
given the term in section 3 of the Workforce Innovation and
Opportunity Act (29 U.S.C. 3102).
(9) Supportive services.--The term ``supportive services''
has the meaning given the term in section 3 of the Workforce
Innovation and Opportunity Act (29 U.S.C. 3102).
(b) Grants.--The Secretary, in coordination with the
Secretary of Labor, shall provide grants to eligible entities
to assist in the transition to a low- or zero-greenhouse gas
emitting economy.
(c) Eligible Entities.--An entity eligible to receive a
grant under this section is a labor organization, an
institution of higher education, a unit of State or local
government, an Indian Tribe, an economic development
organization, a nonprofit organization, community-based
organization, or intermediary, or a State board or local
board that serves or is located in a community that--
(1) as determined by the Secretary, in coordination with
the Secretary of Labor, has been or will be impacted by
economic changes in carbon-intensive industries, including in
an energy community (as defined in section 45(b)(11) of the
Internal Revenue Code of 1986);
(2) as determined by the Secretary, in consultation with
the Administrator of the Federal Emergency Management Agency,
has been or is at risk of being impacted by extreme weather
events, sea level rise, and natural disasters related to
climate change; or
(3) as determined by the Secretary, in consultation with
the Administrator of the Environmental Protection Agency, has
been impacted by harmful residuals from a fossil fuel or
carbon-intensive industry.
(d) Use of Funds.--An eligible entity that receives a grant
under this section shall use the grant for--
(1) economic and workforce development activities, such
as--
(A) job creation;
(B) providing reemployment and worker transition
assistance, including registered apprenticeships, subsidized
employment, job training, transitional jobs, and supportive
services, with priority given to--
(i) workers impacted by changes in carbon-intensive
industries;
(ii) individuals with a barrier to employment; and
(iii) programs that lead to a recognized postsecondary
credential;
(C) local and regional investment, including commercial and
industrial economic diversification;
(D) export promotion; and
(E) establishment of a monthly subsidy payment for workers
who retire early due to economic changes in carbon-intensive
industries;
(2) climate change resiliency, such as--
(A) building electrical, communications, utility,
transportation, and other infrastructure in flood-prone areas
above flood zone levels;
(B) building flood and stormproofing measures in flood-
prone areas and erosion-prone areas;
(C) increasing the resilience of a surface transportation
infrastructure asset to withstand extreme weather events and
climate change impacts;
(D) improving stormwater infrastructure;
(E) increasing the resilience of agriculture to extreme
weather;
(F) ecological restoration;
(G) increasing the resilience of forests to wildfires;
(H) increasing coastal resilience; and
(I) implementing heat island cooling strategies;
(3) environmental remediation and restoration projects of
fossil fuel industry facilities that are abandoned or
retired, or closed due to bankruptcy, and residuals from
carbon-intensive industries, such as--
(A) coal ash and petroleum coke cleanup;
(B) mine reclamation;
(C) reclamation and plugging of abandoned oil and natural
gas wells on private and public land; and
(D) remediation of impaired waterways and drinking water
resources; or
(4) other activities as the Secretary, in coordination with
the Secretary of Labor, the Administrator of the Federal
Emergency Management Agency, and the Administrator of the
Environmental Protection Agency, determines to be
appropriate.
(e) Requirements.--
(1) Labor standards; nondiscrimination.--An eligible entity
that receives a grant under this section shall use the funds
[[Page S6220]]
in a manner consistent with sections 181 and 188 of the
Workforce Innovation and Opportunity Act (29 U.S.C. 3241,
3248).
(2) Wage rate requirements.--
(A) In general.--All laborers and mechanics employed by
eligible entities to carry out projects and activities funded
directly by or assisted in whole or in part by a grant under
this section shall be paid at wages at rates not less than
those prevailing on projects of a similar character in the
locality as determined by the Secretary of Labor in
accordance with subchapter IV of chapter 31 of title 40,
United States Code (commonly known as the ``Davis-Bacon
Act'').
(B) Authority.--With respect to the labor standards
specified in subparagraph (A), the Secretary of Labor shall
have the authority and functions set forth in Reorganization
Plan Numbered 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and
section 3145 of title 40, United States Code.
(3) Buy america requirements.--
(A) In general.--All iron, steel, and manufactured goods
used for projects and activities carried out with a grant
under this section shall be produced in the United States.
(B) Waiver.--The Secretary may waive the requirement in
subparagraph (A) if the Secretary finds that--
(i) enforcing the requirement would be inconsistent with
the public interest;
(ii) the iron, steel, and manufactured goods produced in
the United States are not produced in a sufficient and
reasonably available amount or are not of a satisfactory
quality; or
(iii) enforcing the requirement will increase the overall
cost of the project or activity by more than 25 percent.
(f) Coordination.--An eligible entity that receives a grant
under this section is encouraged to collaborate or partner
with other eligible entities and impacted communities in
planning and carrying out activities with that grant.
(g) Report.--Not later than 3 years after the date on which
the Secretary establishes the grant program under this
section, the Secretary and the Secretary of Labor shall
submit to Congress a report on the effectiveness of the grant
program, including--
(1) the number of individuals that have received
reemployment or worker transition assistance under this
section;
(2) a description of any job creation activities carried
out with a grant under this section and the number of jobs
created from those activities;
(3) the percentage of individuals that have received
reemployment or worker transition assistance under this
section who are, during the second and fourth quarters after
exiting the program--
(A) in education or training activities; or
(B) employed;
(4) the average wages of individuals that have received
reemployment or worker transition assistance under this
section during the second and fourth quarters after exit from
the program;
(5) a description of any regional investment activities
carried out with a grant under this section;
(6) a description of any export promotion activities
carried out with a grant under this section, including--
(A) a description of the products promoted; and
(B) an analysis of any increase in exports as a result of
the promotion;
(7) a description of any resilience activities carried out
with a grant under this section;
(8) a description of any cleanup activities from fossil
fuel industry facilities or carbon-intensive industries
carried out with a grant under this section; and
(9) the distribution of funding among geographic and
socioeconomic groups, including urban and rural communities,
low-income communities, communities of color, and Indian
Tribes.
(h) Funding.--
(1) Initial funding.--There is appropriated to the
Secretary, out of any funds in the Treasury not otherwise
appropriated, $5,000,000,000 for each of fiscal years 2025
and 2026 to carry out this section, to remain available until
expended.
(2) America's clean future fund.--The Secretary shall carry
out this section using amounts made available from the
America's Clean Future Fund under section 9512 of the
Internal Revenue Code of 1986 (as added by section 4).
SEC. 8. STUDY ON CARBON PRICING.
(a) In General.--Not later than January 1, 2028, the
Administrator of the Environmental Protection Agency
(referred to in this section as the ``Administrator'') shall
seek to enter into an agreement with the National Academy of
Sciences under which the National Academy of Sciences shall
carry out a study not less frequently than once every 5 years
to evaluate the effectiveness of the fees established under
sections 4692 and 4693 of the Internal Revenue Code of 1986
in achieving the following goals:
(1) A net reduction of greenhouse gas emissions by 45
percent, based on 2018 levels, by 2030.
(2) A net reduction of greenhouse gas emissions by 100
percent, based on 2018 levels, by 2050.
(b) Requirements.--In executing the agreement under
subsection (a), the Administrator shall ensure that, in
carrying out a study under that subsection, the National
Academy of Sciences--
(1) includes an evaluation of--
(A) total annual greenhouse gas emissions by the United
States, including greenhouse gas emissions not subject to the
fees described in that subsection;
(B) the historic trends in the total greenhouse gas
emissions evaluated under subparagraph (A); and
(C) the impacts of the fees established under sections 4692
and 4693 of the Internal Revenue Code of 1986 on changes in
the levels of fossil fuel-related localized air pollutants in
environmental justice communities (as defined in section
2(e)(1));
(2) analyzes the extent to which greenhouse gas emissions
have been or would be reduced as a result of current and
potential future policies, including--
(A) a projection of greenhouse gas emissions reductions
that would result if the regulations of the Administrator
were to be adjusted to impose stricter limits on greenhouse
gas emissions than the goals described in that subsection,
with a particular focus on greenhouse gas emissions not
subject to the fees described in that subsection;
(B) the status of greenhouse gas emissions reductions that
result from the fees established under sections 4692 and 4693
of the Internal Revenue Code of 1986;
(C) a projection of greenhouse gas emissions reductions
that would result if the fees established under those
sections were annually increased--
(i) at the current price path; and
(ii) above the current price path;
(D) an analysis of greenhouse gas emissions reductions that
result from the policies of States, units of local
government, Tribal communities, and the private sector; and
(E) the status and projections of decarbonization in other
major economies; and
(3) submits a report to the Administrator, Congress, and
the Board of Directors of the Climate Change Finance
Corporation describing the results of the study.
SEC. 9. ESTABLISHMENT OF TARGETS FOR CARBON SEQUESTRATION BY
LAND AND WATER.
(a) In General.--The Chair of the Council on Environmental
Quality, in consultation with the Secretaries of Agriculture,
Commerce, and the Interior, the Chief of Engineers, and the
Administrator of the Environmental Protection Agency, shall--
(1) establish a target for carbon sequestration that can
reasonably be achieved through enhancing the ability of
public and private land and water to function as natural
carbon sinks;
(2) develop strategies for meeting that target; and
(3) develop strategies to expand protections for ecosystems
that sequester carbon and provide resiliency benefits, such
as--
(A) flood protection;
(B) soil and beach retention;
(C) erosion reduction;
(D) biodiversity;
(E) water purification; and
(F) nutrient cycling.
(b) Report.--As soon as practicable after the date of
enactment of this Act, the Chair of the Council on
Environmental Quality shall submit to Congress a report
describing--
(1) the target and strategies described in paragraphs (1)
through (3) of subsection (a); and
(2) any additional statutory authorities or authorized
funding levels needed to successfully implement those
strategies.
______
By Mr. DURBIN (for himself, Mr. Van Hollen, Mr. Whitehouse, and
Mr. Booker):
S. 5122. A bill to establish the Julius Rosenwald and Rosenwald
Schools National Historical Park, and for other purposes; to the
Committee on Energy and Natural Resources.
Mr. DURBIN. Madam President, I ask unanimous consent that the text of
the bill be printed in the Record.
There being no objection, the text of the bill was ordered to be
printed in the Record, as follows:
S. 5122
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 ``Julius Rosenwald and
Rosenwald Schools National Historical Park Act''.
SEC. 2. PURPOSES.
The purposes of this Act are--
(1) to establish a unit of the National Park System--
(A) to commemorate the life and legacy of Julius Rosenwald,
who--
(i) was the son of German-Jewish immigrants;
(ii) helped make Sears, Roebuck and Co. the leading
retailer in the United States for many years;
(iii) used his enormous fortune to become a visionary
philanthropist; and
(iv) partnered with Booker T. Washington and approximately
5,000 African-American communities in the segregated South to
build schools for children who had few or no educational
opportunities;
(B) to recognize the impact of the Rosenwald Schools,
which--
(i) were constructed between 1912 and 1932 in 15 States;
and
(ii) educated more than 600,000 African-American children,
including a number of
[[Page S6221]]
graduates who became leaders in the civil rights movement,
such as--
(I) Representative John Lewis;
(II) Maya Angelou;
(III) Medgar Evers;
(IV) Nina Simone; and
(V) Carlotta Walls LaNier;
(C) to honor other important parts of the legacy of Julius
Rosenwald, including--
(i) the Julius Rosenwald Fund, which--
(I) between 1928 and 1948, awarded fellowships to nearly
900 talented men and women--
(aa) \2/3\ of whom were African Americans; and
(bb) including--
(AA) Marian Anderson;
(BB) Langston Hughes;
(CC) Ralph Bunche;
(DD) James Baldwin;
(EE) Dr. Charles Drew;
(FF) Ralph Ellison; and
(GG) Woody Guthrie; and
(II) supported early legal cases of the National
Association for the Advancement of Colored People that led to
the Supreme Court opinion in Brown v. Board of Education of
Topeka, 347 U.S. 483 (1954);
(ii) founding the Jewish Federation of Metropolitan
Chicago;
(iii) service as a member of the board of Jane Addams' Hull
House for 20 years;
(iv) being a founding donor of the Chicago Museum of
Science and Industry; and
(v) otherwise embodying social justice;
(2) to preserve a small number of representative sites of
the Rosenwald Schools, including the San Domingo School in
Sharptown, Maryland, and to establish a headquarters and
visitor center for the Julius Rosenwald and Rosenwald Schools
National Historical Park within or near the former Sears
Merchandising Complex in North Lawndale in the city of
Chicago, Illinois, to enlighten visitors on--
(A) the overall life and legacy of Julius Rosenwald; and
(B) the ways in which the Rosenwald Schools--
(i) affected African-American education in the South; and
(ii) helped to make the United States a more democratic
society; and
(3) to establish a network in the National Park Service to
connect the remaining Rosenwald Schools to disseminate more
fully the story of the Rosenwald Schools throughout the
United States.
SEC. 3. DEFINITIONS.
In this Act:
(1) Map.--The term ``Map'' means the map prepared under
section 4(b)(2)(A).
(2) Network.--The term ``Network'' means the Rosenwald
Schools National Network established under section 5(a)(1).
(3) Park.--The term ``Park'' means the Julius Rosenwald and
Rosenwald Schools National Historical Park established by
section 4(a)(1).
(4) Secretary.--The term ``Secretary'' means the Secretary
of the Interior.
SEC. 4. JULIUS ROSENWALD AND ROSENWALD SCHOOLS NATIONAL
HISTORICAL PARK.
(a) Establishment.--
(1) In general.--Subject to paragraph (2), there is
established as a unit of the National Park System the Julius
Rosenwald and Rosenwald Schools National Historical Park.
(2) Determination by the secretary.--
(A) Date of establishment.--The Park shall not be
established until the date on which the Secretary determines
that a sufficient quantity of land or interests in land
within the boundary of the Park has been acquired to
constitute a manageable unit.
(B) Federal register notice.--The Secretary shall publish
in the Federal Register notice of a determination under
subparagraph (A).
(b) Boundary.--
(1) In general.--The Park shall consist of the following:
(A) The 40-acre site selected for the Sears merchandising
complex constructed in 1905-1906, which includes the original
Sears Administration Building, the catalog building, the
power plant, and the Nichols Tower, which now comprise the
Sears Roebuck and Company Complex National Historic Landmark,
and the Sears Sunken Garden directly across the street from
the Sears Administration Building.
(B) The San Domingo Rosenwald School in Sharptown,
Maryland, as generally depicted on the Map.
(C) Any Rosenwald School or other area designated by
Congress to be included in the Park after the date of
enactment of this Act.
(2) Map.--
(A) In general.--As soon as practicable after the date of
enactment of this Act, the Secretary shall prepare a map of
the boundary of the Park.
(B) Availability.--The Map shall be on file and available
for public inspection in the appropriate offices of the
National Park Service.
(c) Administration.--
(1) In general.--The Secretary shall administer land within
the boundary of the Park in accordance with--
(A) this section; and
(B) the laws generally applicable to units of the National
Park System, including--
(i) sections 100101(a), 100751(a), 100752, 100753, and
102101 of title 54, United States Code; and
(ii) chapters 1003 and 3201 of title 54, United States
Code.
(2) Cooperative agreements.--
(A) In general.--To further the purposes of this section
and notwithstanding chapter 63 of title 31, United States
Code, the Secretary may enter into cooperative agreements
with the State of Illinois, the city of Chicago, the State of
Maryland, other appropriate State and local government
officials, and public and nonpublic entities, subject to
subparagraph (B)--
(i) to support collaborative interpretive and educational
programs at non-Federal historic properties within the
boundary of the Park; and
(ii) to identify, interpret, and provide assistance for the
preservation of non-Federal land within the boundary of the
Park and at sites related to the Park but located outside the
boundaries of the Park, including providing for--
(I) the placement of directional and interpretive signage;
(II) exhibits; and
(III) technology-based and other interpretive devices.
(B) Public access.--A cooperative agreement entered into
under this paragraph shall provide for reasonable public
access to any property subject to the cooperative agreement.
(3) Use of funds.--
(A) In general.--The Secretary may use appropriated funds
to carry out a project to mark, interpret, improve, restore,
or provide technical assistance with respect to the
preservation and interpretation of any property that is
subject to a cooperative agreement under paragraph (2).
(B) Inconsistent purposes.--Any payment made by the
Secretary under this section shall be subject to an agreement
that the conversion, use, or disposal of a project carried
out under subparagraph (A) for purposes that are inconsistent
with the purposes of this section, as determined by the
Secretary, shall result in a right of the United States to
reimbursement in an amount that is the greater of--
(i) the amount provided by the Secretary to the project;
and
(ii) an amount equal to the increase in the value of the
project that is attributable to the funds, as determined by
the Secretary as of the date of the conversion, use, or
disposal.
(4) Acquisition of land.--
(A) In general.--Subject to subparagraph (B), the Secretary
may, within the National Historic Landmark District in
Chicago, Illinois--
(i) acquire a facade or other easement interest on the
Nichols Tower; and
(ii) enter into a lease or other agreement for purposes of
providing for administration of the Park and appropriate
visitor services.
(B) Outside of park boundary.--If the Secretary is unable
to identify appropriate space for administration and visitor
services in accordance with subparagraph (A)(ii), the
Secretary may acquire the appropriate land or interests in
land, or enter into other appropriate agreements, in the
vicinity of, but outside the boundary of the Park, for
administration and visitor services.
(C) Limitation.--The San Domingo School in Sharptown,
Maryland, may only be acquired by the Secretary under this
section by--
(i) donation;
(ii) purchase with donated funds; or
(iii) exchange.
(5) Interpretation.--To further the dissemination of
information about the life and legacy of Julius Rosenwald,
with an emphasis on the partnership of Julius Rosenwald with
Booker T. Washington and the approximately 5,000 communities
in the South that led to the establishment and success of the
Rosenwald Schools, the Secretary shall include interpretation
of the story of Julius Rosenwald at--
(A) the Lincoln Home National Historic Site in the State of
Illinois, within the boundary of which is located the home of
Julius Rosenwald; and
(B) the Tuskegee Institute National Historic Site in the
State of Alabama, which was founded by Booker T. Washington
for the education of African Americans and at which
architects designed the early Rosenwald Schools.
(6) Management plan.--Not later than 3 fiscal years after
the date on which funds are first made available to carry out
this section, the Secretary shall complete a general
management plan for the Park in accordance with--
(A) section 100502 of title 54, United States Code; and
(B) any other applicable laws.
SEC. 5. ROSENWALD SCHOOLS NATIONAL NETWORK.
(a) In General.--The Secretary shall--
(1) establish, within the National Park Service, a program
to be known as the ``Rosenwald Schools National Network'';
(2) as soon as practicable after the date of enactment of
this Act, solicit proposals from sites, facilities, and
programs interested in being a part of the Network; and
(3) administer the Network.
(b) Duties of the Secretary.--In carrying out the Network,
the Secretary shall--
(1) review studies and reports to complement and not
duplicate studies of the historical importance of the
Rosenwald Schools;
(2) produce and disseminate appropriate educational and
promotional materials relating to the life and work of Julius
Rosenwald and the Rosenwald Schools that are part of the
Network, such as handbooks, maps, interpretive guides, or
electronic information;
[[Page S6222]]
(3) enter into appropriate cooperative agreements and
memoranda of understanding to provide assistance, as
appropriate;
(4)(A) create and adopt an official, uniform symbol or
device for the Network; and
(B) issue regulations for the use of the symbol or device
adopted under this paragraph;
(5) conduct research relating to the Rosenwald Schools;
(6) make recommendations for any additional Rosenwald
School sites that should be considered for inclusion within
the Park due to the significance, integrity, and need for
management by the National Park Service of the sites; and
(7) have the authority to provide grants to Network
elements described in subsection (c).
(c) Elements.--The Network shall encompass the following
elements:
(1) All units and programs of the National Park Service
that are determined by the Secretary to relate to the story
of Julius Rosenwald and the Rosenwald Schools.
(2) Other Federal, State, local, and privately owned
properties that the Secretary determines--
(A) relate to Julius Rosenwald and the Rosenwald Schools;
and
(B) are included in, or determined by the Secretary to be
eligible for inclusion in, the National Register of Historic
Places.
(3) Other governmental and nongovernmental sites,
facilities, and programs of an educational, research, or
interpretive nature that are directly related to Julius
Rosenwald and the Rosenwald Schools.
(d) Cooperative Agreements and Memoranda of
Understanding.--To achieve the purposes of this section and
to ensure effective coordination of the Federal and non-
Federal elements of the Network and units and programs of the
National Park Service, the Secretary may enter into
cooperative agreements and memoranda of understanding with,
and provide technical assistance to, the heads of other
Federal agencies, States, units of local government, regional
governmental bodies, and private entities.
____________________