[Congressional Record (Bound Edition), Volume 148 (2002), Part 1]
[Senate]
[Pages 835-844]
[From the U.S. Government Publishing Office, www.gpo.gov]




          STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS

      By Mr. KERRY (for himself and Mr. Bond):
  S. 1914. A bill to amend title 49, United States Code, to provide a 
mandatory fuel surcharge for transportation provided by certain motor 
carriers, and for other purposes; to the Committee on Commerce, 
Science, and Transportation.
  Mr. KERRY. Mr. President, today I am pleased to introduce the Motor 
Carrier Fuel Cost Equity Act, which is much-needed legislation. My bill 
is designed to improve the ability of independent truck drivers to 
recoup losses from high fuel costs by requiring that motor carriers 
charge a fuel surcharge when the price of diesel fuel rises above $1.15 
and pass-through this surcharge to the payer of the fuel costs. My bill 
will level the playing field for small operators, which comprise nearly 
80 percent of the motor carrier industry, without any cost or 
regulatory requirement for the Federal Government.
  There are approximately 350,000 independent truck drivers, known as 
owner-operators, who haul freight either on a per-load contractual 
basis or by leasing their truck and driving services to a motor 
carrier, freight forwarder or other shipping broker. Owner-operators 
essentially are independent contractors. Sometimes they provide their 
services directly to a shipper, but more often owner-operators contract 
out their services to a motor carrier company which negotiates its own 
contract with a shipper and then pays the owner-operator to provide the 
transport service.
  Fuel surcharges are a long-established method of permitting motor 
carriers, airlines and even taxis to recover high fuel costs. But 
because of intense competition in the industry, owner-operators have 
little ability to negotiate terms of transport with a motor carrier, 
and in virtually no circumstance are they able to pass along the 
increased costs of fuel to the shipper. The inability of independent 
truck drivers to pass along the higher fuel costs of the last two years 
has resulted in the bankruptcy of 7,000 trucking companies, nearly all 
small businesses, and the repossession of nearly 200,000 trucks.
  I'd like to make clear a couple of additional points about the 
legislation: First, the bill would not affect less-than-truckload 
carriers, such as package delivery services. Many of these services are 
already imposing surcharges and they don't face the same unique 
situation that confronts the independent trucker. Second, my bill 
allows the parties to set their own surcharge formulas, but the 
surcharge must be sufficient to fully compensate the person who pays 
for the fuel. That's only fair, but it allows the motor carriers and 
truckers the greatest degree

[[Page 836]]

of flexibility in negotiating the terms of transport.
  While national diesel fuel costs have recently fallen below the $1.15 
threshold, we know well that fuel costs can increase suddenly. 
America's independent truckers, which form the backbone of truck 
transportation in this country, deserve the ability to protect 
themselves during these periods of high diesel fuel prices.
  I am proud to be joined by Senator Bond in introducing this bill 
today. I am also pleased that Congressman Rahall has introduced similar 
legislation on the House side. He has worked hard on this bill for 
several years now, and I look forward to working closely with him as we 
move forward on this legislation.
                                 ______
                                 
      By Mrs. LINCOLN:
  S. 1915. A bill to amend the Internal Revenue Code of 1986 to treat 
natural gas distribution lines as 10-year property for depreciation 
purposes; to the Committee on Finance.
  Mrs. LINCOLN. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows.

                                S. 1915

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. NATURAL GAS DISTRIBUTION LINES TREATED AS 10-YEAR 
                   PROPERTY.

       (a) In General.--Subparagraph (D) of section 168(e)(3) of 
     the Internal Revenue Code of 1986 (relating to classification 
     of certain property) is amended by striking ``and'' at the 
     end of clause (i), by striking the period at the end of 
     clause (ii) and by inserting ``, and'', and by adding at the 
     end the following new clause:
       ``(iii) any natural gas distribution line.''.
       (b) Alternative System.--The table contained in section 
     168(g)(3)(B) of the Internal Revenue Code of 1986 is amended 
     by inserting after the item relating to subparagraph (D)(ii) 
     the following:

``(D)(iii)........................................................20''.

       (c) Alternative Minimum Tax Exception.--Subparagraph (B) of 
     section 56(a)(1) of the Internal Revenue Code of 1986 is 
     amended by inserting before the period the following: ``or in 
     clause (iii) of section 168(e)(3)(D)''.
       (d) Effective Date.--The amendments made by this section 
     shall apply to property placed in service after the date of 
     the enactment of this Act.
                                 ______
                                 
      By Mr. JEFFORDS (for himself, Mr. Smith of New Hampshire, Mr. 
        Reid, Mr. Inhofe, Mr. Baucus, Mr. Warner, Mr. Graham, Mr. Bond, 
        Mr. Voinovich, Mr. Lieberman, Mr. Crapo, Mrs. Boxer, Mr. 
        Chafee, Mr. Specter, Mr. Wyden, Mr. Carper, Mr. Campbell, Mrs. 
        Clinton, and Mr. Corzine):
  S. 1917. A bill to provide for highway infrastructure investment at 
the guaranteed funding level contained in the Transportation Equity Act 
for the 21st Century; to the Committee on Environment and Public Works.
  Mr. JEFFORDS. Mr. President, I ask unanimous consent that the Highway 
Funding Restoration Act as cosponsored by Senators Smith of New 
Hampshire, Reid, Inhofe, Baucus, Warner, Boxer, Campbell, Carper, 
Crapo, Clinton, Specter, Lieberman, Voinovich, Graham of Florida, 
Wyden, Corzine, Bond, and Chafee, be printed in the Record. The bill 
provides for highway infrastructure investment at the guaranteed 
funding level contained in the Transportation Equity Act for the 21st 
Century.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1917

       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 ``Highway Funding Restoration 
     Act''.

     SEC. 2. FEDERAL-AID HIGHWAY PROGRAM OBLIGATION CEILING.

       Section 1102 of the Transportation Equity Act for the 21st 
     Century (23 U.S.C. 104 note; 112 Stat. 115, 113 Stat. 1753) 
     is amended by adding at the end the following:
       ``(k) Restoration of Obligation Limitation for Fiscal Year 
     2003.--Notwithstanding any other provision of law, the 
     obligations for Federal-aid highway and highway safety 
     construction programs for fiscal year 2003--
       ``(1) shall be not less than $27,746,000,000; and
       ``(2) shall be distributed in accordance with this 
     section.''.
                                 ______
                                 
      By Ms. COLLINS (for herself, Mr. Frist, Mr. Lieberman, Mr. 
        DeWine, Mr. Roberts, Mr. Sessions, Mr. Carper, and Mr. Breaux):
  S. 1918. A bill to expand the teacher loan forgiveness programs under 
the guaranteed and direct student loan programs for higher qualified 
teachers of mathematics, science, and special education, and for other 
purposes; to the Committee on Health, Education, Labor, and Pensions.
  Ms. COLLINS. Mr. President, I rise today with my colleagues, Senators 
Frist, Lieberman, DeWine, Roberts, and Sessions to introduce the Math, 
Science, and Special Education Teacher Recruitment Act of 2002. I 
particularly want to thank the Senator from Tennessee for his tireless 
efforts and his leadership on this issue. The legislation we have 
before us today is, in large part, a product of his commitment to 
affordable education. I would also like to thank the Senator from 
Connecticut for his assistance and his dedication to solving America's 
teacher shortage.
  The legislation we are introducing is designed to recruit teachers 
with an expertise in math, science, or special education to work in 
schools with high concentrations of low-income students by offering 
substantial assistance with their student loan payments.
  All across our Nation, public schools are struggling to fill teaching 
positions with qualified teachers. In the 2001-2002 school year, 
administrators had to hire an estimated 200,000 new teachers just to 
maintain the current teacher/student ratio. Although universities 
continue to produce a greater number of teachers each year, the 
profession is losing too many of its most qualified and experienced 
personnel to retirement. In Maine, for example, 30.2 percent of 
teachers are over the age of 50. With such a large portion of the 
profession nearing retirement, additional replacements will be needed 
in the next few years. The national teaching shortage is expected to 
continue throughout the next decade, making it more and more difficult 
for schools to find qualified instructors.
  Attracting new faculty is difficult enough, but finding applicants 
with backgrounds in math, science, or special education can be 
particularly demanding. Among first year teachers, approximately 55 
percent graduated from college with a bachelors in general education. 
Many more graduated with liberal arts degrees or majors unrelated to 
the curriculum they teach. The result is a system where only 38 percent 
of public school teachers hold subject-matter specific degrees.
  In Maine, the shortage of qualified applicants is most severe with 
regard to math, science, special education, and foreign languages. 
Eighty nine percent of our high schools reported a shortage in math 
teachers, and 87 percent reported a shortage of science teachers. With 
the recent developments in technology and computing, it is becoming 
more important than ever that our schoolchildren enter the workforce 
with a firm grasp of math and science. Yet, it is more and more 
difficult to attract math and science specialists to the teaching 
profession. As for special education, the Council for Exceptional 
Children reports that 50,000 special education positions were unfilled 
or filled by teachers without a full certification.
  If this teacher shortage is a burden on suburban school districts 
with ample resources, you can imagine the strain it puts on high 
poverty school systems. Problems are amplified in high-need areas: 
Teachers are likely to be the least experienced, often just out of 
school, they are less likely to hold a masters degree, and they are 
less likely to have majored in their field of instruction.
  To help deal with this epidemic, Senator FRIST and I put together a 
proposal that would expand the current loan forgiveness program for 
math and science teachers who are willing to teach in high-poverty 
areas. Under the Act, teachers who commit to teach for five consecutive 
years in a low-income/

[[Page 837]]

high-need area would be eligible for $17,500 in loan forgiveness 
instead of the current benefit of $5,000. To meet the pressing need for 
special educators, the proposal would also make special educators 
eligible for the loan assistance for the first time. We expect this 
legislation will expand upon the successes of the current program and 
encourage a greater number of college graduates to enter the teaching 
profession. We are also hopeful that it will encourage more of the best 
qualified teachers to consider teaching in high need areas.
  We are delighted that the President has included $45 million in his 
budget for a similar proposal. Once again, President Bush has chosen to 
make education a priority, and I look forward to working with my 
colleagues and the Administration on this important piece of 
legislation.
  Mr. FRIST. Mr. President, I rise to speak about a bill being 
introduced today by Senator Collins, a bill that would expand loan 
forgiveness for math, science and special education teachers. I am 
proud to be a cosponsor of this legislation.
  At this time, I would like to share with you some startling 
statistics regarding the status of teaching skills in our country. More 
than 1 in 4 high school math teachers and nearly 1 in 5 high school 
science teachers lack even a minor in their main teaching field. About 
56 percent of high school students taking physical science are taught 
by out-of-field teachers, as are 27 percent of those taking math. And 
these percentages are much greater among high-poverty areas. Among 
schools with the highest minority enrollments, for example, students 
have less than a 50 percent chance of getting a science or math teacher 
who hold both a license and a degree in the field being taught. One 
survey taken among 40 large urban schools, for instance, showed that 
more than 90 percent of them had an immediate need for a certified math 
or science teacher.
  This shortage of strong math and science teachers is having a direct 
effect on the performance of our students. The most recent NAEP science 
section results showed that the performance of fourth- and eighth-grade 
students remained about the same since 1996, but scores for high school 
seniors changed significantly: up six points for private school 
students and down four for public school students, for a net national 
decline of three points. Moreover, a whopping 82 percent of twelfth-
grade students are not proficient in science and the achievement gaps 
among eighth-graders are appalling: Only 41 percent of white, 7 percent 
of African-American and 12 percent of Hispanic students are proficient.
  The disappointing overall results for seniors on the science section 
of the NAEP prompted Education Secretary Rod Paige to call the decline 
``morally significant.'' He warned, ``If our graduates know less about 
science than their predecessors four years ago, then our hopes for a 
strong 21st century workforce are dimming just when we need them 
most.'' I couldn't agree with the Secretary more.
  An enormous improvement in mathematics and science education at the 
K-12 level is necessary if today's students want good jobs and the 
United States wants to stay competitive in the world economy. With 
globalization, that means that the good jobs will go to the people who 
can do them best. If those people are not in the United States, then 
those jobs will also not be in the United States. At present, the law 
allows 195,000 immigrants to enter the United States on H-1B visas each 
year in order to take jobs that cannot be filled by workers in the 
United States.
  We have to do more to make sure that our students are learning math 
and science skills. And to do so, we must improve the quality of our 
Nation's math and science teachers. These sentiments are echoed by the 
National Research Council in its 2001 ``Educating Teachers of Science, 
Mathematics, and Technology'' report. The Council notes: If the Nation 
is to make the continuous improvements needed in teaching, we need to 
make a science out of teacher education--using evidence and analysis to 
build an effective system of teacher preparation and professional 
development.
  President Bush has taken note of the startling statistics I shared 
with you today, and that is why he has provided $45 million in his 
budget to expand loan forgiveness for math and science teachers from 
$5,000 to $17,500 for those teachers who commit to teach for 5 
consecutive years in high-need schools. The President also provided 
this expansion of loan forgiveness for special education teachers in 
his proposal.
  I wrote like to praise Senator Collins for following his lead and 
introducing a bill to provide the authorizing language to make his 
proposal become a reality. I am very proud to be an original cosponsor 
of the bill. The bill would provide that $17,500 of loans would be 
forgiven for those that have math, science, engineering and special 
education majors or graduate degrees, have been certified to teach in 
their states, and agree to teach in a school with a 50 percent or 
higher rate of poverty. The bill is very simple, but it could make a 
tremendous difference for many of our young students' lives.
  I have had the benefit of an amazing education in my lifetime and 
also have had the wonderful opportunity of being inspired by 
tremendously talented and dedicated teachers. I want to make sure that 
all children have that same opportunity: to be inspired by smart, 
gifted and devoted teachers who actually know and understand math and 
science. These teachers make a difference. They can lead a child to 
like math, to like science, or they can cause a child to forever stray 
from the life sciences and run toward the liberal arts.
  Our society needs more engineers, more technicians, more doctors and 
more scientists. We as a society should do all we can to encourage kids 
to enter these professions. That means we have to start early and make 
sure that those individuals who have the ability to shape their 
knowledge actually encourage them to become future scientists, not 
dissuade them from ever considering it. And, having spoken with so many 
teachers, school board members and educators who must grapple with the 
demands of the special education students, no one can underestimate the 
need to encourage more of our best and brightest to teach special need 
children.
  I hope others join Senator Collins and me in this effort to make a 
difference in a young child's future. Please cosponsor this initiative 
and help us to pass this important legislation.
                                 ______
                                 
      By Mr. WELLSTONE:
  S. 1919. A bill to amend the Employee Retirement Income Security Act 
of 1974 to provide for improved disclosure, diversification, account 
access, and accountability under individual account plans; to the 
Committee on Health, Education, Labor, and Pensions.
  Mr. WELLSTONE. Mr. President, I rise today to introduce an extremely 
important bill, the Retirement Security Protection Act of 2002. I urge 
my colleagues to join me in pressing for its swift consideration.
  As the Enron debacle continues to unfold, it exposes serious gaps in 
the framework of protections to shield Americans from corporate excess 
and irresponsibility. Perhaps nowhere is our vulnerability more 
apparent than in the area of retirement security.
  As thousands of Enron employees saw much of their life savings 
vanish, the company's top executives walked off with fortunes for 
retirement locked in. Enron spent over $1 million to insure that Ken 
Lay would receive $440,000 in annual retirement income while 
simultaneously encouraging employees to risk their own retirement 
security by loading up on excessive amounts of soon-to-be worthless 
stock.
  Unfortunately, some of the Enron circumstances are by no means 
unique. Similar disparities between rank-and-file employee and 
executive retirement security have become increasingly common in 
corporate America. Similarly disastrous outcomes for employees' 
retirement security have occurred at other companies, such as Lucent 
and Polaroid.
  We must take steps now to address these fundamental inequities.

[[Page 838]]

  Nearly eight decades ago, the Federal Government established a 
compact with all Americans to provide a basic level of security in 
their retirement years. Social security became and still is the 
essential cornerstone of the American promise of retirement security. 
We must do everything in our power to protect the dignity of social 
security for older Americans.
  In the 1970s, we recognized the need to protect what was then 
becoming a second lynchpin of retirement security: employer-provided 
pension plans, or so-called ``defined benefit'' plans. In ERISA, the 
Employee Retirement Income Security Act, we took steps to protect the 
security of such plans. We created a system for insuring them against 
loss, and we put into place portfolio diversification rules to help 
assure their solvency. No more than 10 percent of assets in a defined 
benefit plan, that is, in a traditional pension plan, may be held in 
the employer's company stock.
  The Federal Government has not thus far taken steps to provide 
similar protections with respect to other retirement savings accounts, 
for example, 401(k) plans. This is because, until relatively recently, 
such plans were much fewer in number, and they had largely been viewed 
as a supplement to workers' social security and defined benefit plans.
  The world of retirement security has changed, however, and it is 
still changing. Now, traditional defined benefit, or pension, plans 
have essentially given way to defined contribution plans, such as 
401(k)s, as the primary retirement security vehicle after social 
security. These new plans have been popular with mobile younger 
workers, and a boon to employers who have enjoyed substantial cash and 
administrative savings by switching out of their traditional pension 
plans and into these new ones.
  In 1984, there were 30 million defined benefit participants and 7.5 
million participants in 401(k) plans. By 2001, this relationship was 
reversed, with just 20 million defined benefit participants and an 
estimated 42 million 401(k) participants. In a 1998 survey, 57 percent 
of U.S. households said that the only pension plan available to them 
was a 401(k) plan. That percentage undoubtedly has increased since 
then.
  Meanwhile, measures to ensure the integrity of these 401(k) plans 
have not kept pace with their proliferation and importance. Such plans 
clearly carry considerable risks for the retirement security of 
millions of Americans, as the Enron and other situations have 
demonstrated. Unfortunately, the potential for additional disasters 
remains high. Recent reports indicate some 20 major corporations at 
which the 401(k) plan is more than 60 percent invested in company 
stock.
  When the 401(k) portfolios of employees are overinvested in their 
company's stock and that company's stock crashes, the individual losses 
suffered by workers and retirees who see their entire retirement 
savings obliterated are only a piece of the story. The human and 
capital costs to society of such failures are multiplied many times 
over. Family members who themselves may be struggling will find that 
they are forced to pitch in to help their loved ones. Retirees will be 
forced to spend many additional years in the workplace to recover even 
a portion of what they lost. Individuals without family or savings to 
see them through will turn to government for support.
  It's important to remember that these retirement plans come with a 
heavy price tag for taxpayers. Under current law, pension plans that 
meet certain standards net considerable tax advantages for both the 
companies that sponsor them and the individuals who participate in 
them. These provisions cost the government an estimated $100 billion 
per year in foregone revenue. In my view, that is money well invested. 
But we do our best to ensure that we are reaching our actual policy 
goal.
  The primary policy rationale for tax favored treatment of these plans 
today is that they promote retirement security for millions of 
Americans. There is hardly a more important policy goal. But while 
traditional pension plans are carefully regulated to manage the level 
of risk involved while promoting that goal, 401(k) and similar plans 
currently offer no such protections. Our support for 401(k)s is not 
matched by adequate disclosure, portfolio diversification and 
accountability measures. The huge risks of individual overexposure to 
company stock have been demonstrated in no uncertain terms, yet the 
danger continues with no appropriate government response, despite the 
major public investment.
  That is the reason that I am introducing the Retirement Security 
Protection Act of 2002. The legislation is designed to maximize the 
flexibility and benefits that retirement savings plans provide for both 
employers and employees, while minimizing the risk of future Enrons.
  First, my proposal seeks to improve the flow of information between 
plan sponsors and participants, particularly for those plans with 
significant employer stock holdings.
  Second, I am proposing that employers take steps to safeguard their 
employees' retirement by providing them and the government with an 
estimate of the extent to which their retirement is dependent on 
employer stock and property. Employers will be required to reduce that 
level of dependency across all retirement plans to 20 percent by the 
year 2008. Companies that sufficiently limit the amount of employer 
stock in their plans as a whole are deemed to meet the 20 percent 
standard.
  While my plan uses the same, 20-percent diversification target as 
other proposals, it also encourages and rewards employers who sponsor 
traditional pension plans by allowing them to maintain higher levels of 
company stock in their defined contribution 401(k) plans. It also seeks 
to spur innovation by permitting employers to obtain a waiver from the 
Department of Labor for alternative approaches that manage the risk 
associated with defined contribution plans.
  Finally, I propose broadening the liability for plan losses resulting 
from illegal behavior and improving the remedies available to those who 
have been hurt by such behavior.
  Our compact with American working families is meant to assure them 
the kind of security in their retirement years they have worked so hard 
to achieve. I urge my colleagues to join me in this urgent quest.
  I ask unanimous consent that a summary of the bill be printed in the 
Record.
  There being no objection, the summary was ordered to be printed in 
the Record, as follows:

               Retirement Security Protection Act of 2002

       The Retirement Security Protection Act of 2002 protects 
     employees' retirement security with respect to their 401(k) 
     retirement plans through (1) improved disclosure 
     requirements, (2) new rules to promote plan diversification, 
     and (3) tougher accountability rules.


                      Full and Accurate Disclosure

       1. Annual plan statements: Defined contribution plans would 
     be required to provide annual statements highlighting the 
     percentage of assets in company stock and any restrictions on 
     the sale of that stock and that stress the importance of 
     account diversification for long-term retirement security.
       2. Duty to provide full and accurate information: Plan 
     sponsors and administrators have explicit duty to provide all 
     material investment information to plan participants and 
     beneficiaries.
       3. Fines for false disclosures: Secretary of Labor can fine 
     employers and/or plan administrators up to $1,000 per day for 
     making misleading statements or omitting material information 
     about the value of employer stock or other investment 
     options.


           Improved Diversification and Account Access Rights

       1. Employer responsibility for portfolio diversification or 
     alternative arrangements for risk management: By December 31, 
     2007, employers are responsible for achieving diversification 
     across employees' entire tax qualified retirement portfolios 
     (i.e. defined benefit and defined contribution plans) so that 
     no more than 20% of the employee's total benefits are 
     dependent on company stock. This allows employers sponsoring 
     defined benefit plans to maintain higher levels of company 
     stock in defined contribution plans. Employers will have 
     maximum flexibility in how such diversification is achieved 
     AND the opportunity to obtain a waiver from the Department of 
     Labor for alternative approaches that manage the risk 
     associated with defined contribution plans.

[[Page 839]]

     Companies that sufficiently limit the amount of employer 
     stock in their plans as a whole are deemed to meet the 20% 
     standard. ESOPs of privately held companies and ESOPs that 
     own more than 50% of the employer are exempt and the 
     Department of Labor is directed to recommend special rules 
     for pure, employer-funded ESOPs.
       2. Ban on employer restraints: Overturns existing rules 
     permitting employers to require employees to invest up to 10% 
     of employee contributions in employer stock.
       3. Faster diversification rights: For publicly-traded 
     companies, permits any participant who has been with company 
     for more than 1 year--regardless of vesting status--to 
     transfer employer stock contributions to other funds. 
     (Maintains the current 10-years participation requirement for 
     employer contributions to ESOPs). The Department of Labor is 
     directed to make recommendations on the application of 
     diversification rights to non-publicly traded company stock 
     within retirement plans.
       4. Lockdown protections for plans with company stock: 
     Requires 30 days advance written notice of plan 
     ``lockdowns'', limits such events to 10 business days, and 
     directs the Secretary of Labor to prescribe regulations to 
     provide for exemptions in case of genuine emergency. Company 
     executives cannot sell company stock during a lockdown 
     period. Plan fiduciaries are liable for violations of their 
     fiduciary duty that result in plan or participant losses 
     during a lockdown.


                        Stronger Accountability

       1. Expanded remedies: Expands the liability for breach of 
     fiduciary duty to knowing participants in the breach (e.g 
     Arthur Andersen in the Enron case) and stipulates that both 
     the plan and the individual participants have the right to be 
     made whole in court, including receipt of compensatory 
     damages.
       2. Fiduciary insurance: Requires all defined contribution 
     fiduciaries to maintain sufficient insurance or bonding to 
     cover financial losses resulting from breach of fiduciary 
     duty.
       3. Employee oversight: Requires employers that offer 
     defined contribution pension plans to appoint an equal number 
     of employer and employee trustees to oversee such plans.
       4. No employer coercion. Makes it illegal for employers to 
     require employees to waive their statutory pensions rights as 
     part of any employment-related agreement (such as a 
     termination or severance package).
       5. Auditor independence: Bars company auditors from also 
     auditing the pension plans.
       6. Whistleblower protections. Expands legal protections for 
     pension plan whistleblowers by extending existing protections 
     to persons other than participants or beneficiaries, 
     increasing the burden of proof on employers to explain their 
     actions, and expanding relief available for violations of 
     whistleblower protections.
       7. Insurance feasibility study: Directs the PBGC to study 
     and report to Congress on insurance options for defined 
     contribution plans.
       8. Labor Department assistance: The Department of Labor 
     shall establish an office of the Participant Advocate to 
     monitor potential abuses of employee pension plan rights and 
     assist plan participants in preventing and resolving abuses.
                                 ______
                                 
      By Mr. NELSON of Florida:
  S. 1920. A bill to require that the Attorney General conduct a study 
regarding the ability of the Federal Bureau of Investigation to prevent 
and combat international crimes involving children, and for other 
purposes; to the Committee on the Judiciary.
  Mr. NELSON of Florida. Mr. President, today I introduced the 
International Child Safety Improvement Act of 2002. This legislation is 
intended to improve the Federal Bureau of Investigation's ability to 
prevent and combat international crimes involving children.
  The number of people who use the Internet to meet children and commit 
criminal acts, including illegal sexual acts, is on the rise. Some of 
these cases occur in other countries, but involve American kids.
  Just over a year ago, a 15-year-old girl from Mulberry, FL 
disappeared only to be found in Greece living with an alleged German 
sex offender. The 35-year-old German man had met this young girl 
through the Internet and enticed her to run away from home. Law 
enforcement authorities were able to eventually track her down and 
return her to her distraught parents. The process of finding the girl 
exposed flaws in the FBI's ability to prevent and combat these crimes 
when they occur in foreign jurisdictions.
  My legislation would require the Attorney General, in cooperation 
with the Secretary of State, to evaluate the way in which the FBI 
investigates international crimes involving children. The Attorney 
General would be required to report back to the Congress with 
recommendations for improving the FBI's practices and procedures for 
investigating international crimes involving children. The bill also 
directs the FBI to coordinate and share information with the 
International Criminal Police Organization, the world's preeminent 
organization whose mission is preventing or detecting international 
crime, whenever such an investigation starts.
  I would urge my colleagues to review and pass this legislation as 
soon as possible. Action must be taken to improve the way in which 
these crimes are investigated. Our kids need better protection from 
predators and we need to act quickly to ensure that the FBI has the 
procedures in place and the resources it needs to fight these crimes 
effectively.
                                 ______
                                 
      By Mrs. HUTCHISON (for herself, Mr. Lott, and Mr. Craig):
  S. 1921. A bill to amend the Internal Revenue Code of 1986 and the 
Employee Retirement Income Security Act of 1974 to provide greater 
protection of workers' retirement plans, to prohibit certain activities 
by persons providing auditing services to issuers of public securities, 
and for other purposes; to the Committee on Finance.
  Mr. CRAIG. Mr. President, I rise in support of the Pension Plan 
Protection Act, being introduced today by the Senator from Texas, Mrs. 
Hutchison, and others. I am pleased to be an original cosponsor of this 
important bill and commend the Senator for her leadership on this 
issue.
  This bill will help employees and protect their families and their 
retirement nest eggs. It will require employers to take reasonable 
responsibility toward employees in administering plans, increase 
transparency, improve information and disclosure, increase employee 
choice and control, treat management the same as the rank-and-file 
during blackout periods, and help prevent auditor conflicts of 
interest.
  This is a bill that can and should become law quickly. It includes 
most of the reforms recommended by the President and representing the 
export judgment of a Cabinet-level, interagency task force. It also 
includes additional improvements. These protections will be strong, but 
measured. Unlike some other ideas being floated today, these reforms 
are not arbitrary. They are fair and uniform, but not one-size-fits-
all. They keep the focus where it belongs, on protecting, empowering, 
and informing workers.
  I realize that other legislation may still be forthcoming, regarding 
accounting practices, securities management, or other issues. But that 
should not delay us from acting now on reforms that we all know are 
needed. Workers should not be left vulnerable for one unnecessary day 
while the Congress holds endless hearings in search of a ``perfect'' 
package.
  I urge my colleagues to act promptly and pass this pro-worker bill.
                                 ______
                                 
      By Mr. HUTCHINSON (for himself, Ms. Mikulski, and Mr. Enzi):
  S. 1922. A bill to direct the Secretary of Health and Human Services 
to expand and intensify programs with respect to research and related 
activities concerning elder falls; to the Committee on Health, 
Education, Labor, and Pensions.
  Mr. HUTCHINSON. Mr. President, today, I am pleased to introduce the 
Elder Fall Prevention Act of 2002, along with my colleagues Senator 
Mikulski and Senator Enzi.
  Many people do not realize that over 60 percent of fall-related 
deaths in our country occur among persons 75 or older. Fall victims, 
especially the elderly, are prone to sustain hip fractures which can be 
devastating to their health--in fact, 25 percent of individuals who 
sustain hip fractures die within one year from the time the injury 
occurred.
  In Arkansas, falls are the second leading cause of deaths from 
unintentional injuries. Based on data collected by the Centers for 
Disease Control, 91 Arkansans died because of a fall-related injury in 
1998 alone.

[[Page 840]]

  Not only is this a serious public health issue, it is also a fiscal 
issue, because billions of Medicare and Medicaid dollars are spent each 
year to treat fall victims. It is estimated that over $32 billion will 
be spent by the Medicare and Medicaid programs for fall related 
injuries in the year 2020.
  The Elder Fall Prevention Act will provide needed resources for 
education, research and demonstration projects aimed at reducing the 
risk of falls, identifying vulnerable populations, and preventing 
repeat falls. The congressionally chartered National Safety Council, 
which is a leader in fall prevention efforts, will be spearheading 
several of these initiatives, along with the Centers for Disease 
Control, the Administration on Aging, the Agency for Health Research 
and Quality, and other qualified organizations.
  Falls are preventable. I urge my colleagues to support the Elder Fall 
Prevention Act of 2002 in order to make seniors, family members, 
caregivers, and employers more safety conscious, to prevent unnecessary 
deaths, and to provide seniors with peace of mind and a safe 
environment.
  I ask unanimous consent that the text of the bill be printed in the 
Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1922

       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 ``Elder Fall Prevention Act of 
     2002''.

     SEC. 2. FINDINGS.

       The Congress finds as follows:
       (1) Falls are the leading cause of injury deaths among 
     people over 65.
       (2) Sixty percent of fall-related deaths occur among 
     persons 75 and older.
       (3) Twenty-five percent of elderly persons who sustain a 
     hip fracture die within 1 year.
       (4) Hospital admissions for hip fractures among the elderly 
     have increased from 231,000 admissions in 1988 to 332,000 in 
     1999. The number of hip fractures is expected to exceed 
     500,000 by 2040.
       (5) The costs to the Medicare and Medicaid programs and 
     society as a whole from falls by elderly persons continue to 
     climb much faster than inflation and population growth. 
     Direct costs alone will exceed $32,000,000,000 in 2020.
       (6) The Federal Government should devote additional 
     resources to research regarding the prevention and treatment 
     of falls in residential as well as institutional settings.
       (7) A national approach to reducing elder falls, which 
     focuses on the daily life of senior citizens in residential, 
     institutional, and community settings is needed. The approach 
     should include a wide range of organizations and individuals 
     including family members, health care providers, social 
     workers, architects, employers and others.
       (8) Reducing preventable adverse events, such as elder 
     falls, is an important aspect to the agenda to improve 
     patient safety.

     SEC. 3. PURPOSES.

       The purposes of this Act are--
       (1) to develop effective public education strategies in a 
     national initiative to reduce elder falls in order to educate 
     the elders themselves, family members, employers, caregivers, 
     and others who touch the lives of senior citizens;
       (2) to expand needed services and gain information about 
     the most effective approaches to preventing and treating 
     elder falls; and
       (3) to require the Secretary of Health and Human Services 
     to evaluate the effect of falls on the costs of medicare and 
     medicaid and the potential for reducing costs by expanding 
     services covered under these two programs.

     SEC. 4. PUBLIC EDUCATION.

       Subject to the availability of appropriations, the 
     Administration on Aging within the Department of Health and 
     Human Services shall--
       (1) oversee and support a three-year national education 
     campaign to be carried out by the National Safety Council to 
     be directed principally to elders, their families, and health 
     care providers and focusing on ways of reducing the risk of 
     elder falls and preventing repeat falls; and
       (2) provide grants to qualified organizations and 
     institutions for the purpose of organizing State-level 
     coalitions of appropriate State and local agencies, safety, 
     health, senior citizen and other organizations to design and 
     carry out local education campaigns, focusing on ways of 
     reducing the risk of elder falls and preventing repeat falls.

     SEC. 5. RESEARCH.

       (a) In General.--Subject to the availability of 
     appropriations, the Secretary of Health and Human Services 
     shall--
       (1) conduct and support research to--
       (A) improve the identification of elders with a high risk 
     of falls;
       (B) improve data collection and analysis to identify fall 
     risk and protective factors;
       (C) improve strategies that are proven to be effective in 
     reducing subsequent falls by elderly fall victims;
       (D) expand proven interventions to prevent elder falls;
       (E) improve the diagnosis, treatment, and rehabilitation of 
     elderly fall victims; and
       (F) assess the risk of falls occurring in various settings;
       (2) conduct research concerning barriers to the adoption of 
     proven interventions with respect to the prevention of elder 
     falls (such as medication review and vision enhancement); and
       (3) evaluate the effectiveness of community programs to 
     prevent assisted living and nursing home falls by elders.
       (b) Administration.--In carrying out subsection (a), the 
     Secretary of Health and Human Services shall--
       (1) conduct research and surveillance activities related to 
     the community-based and populations-based aspects of elder 
     fall prevention through the Director of the Centers for 
     Disease Control and Prevention;
       (2) conduct research related to elder fall prevention in 
     health care delivery settings and clinical treatment and 
     rehabilitation of elderly fall victims through the Director 
     of the Agency for Healthcare Research and Quality; and
       (3) ensure the coordination of the activities described in 
     paragraphs (1) and (2).
       (c) Grants.--The Secretary of Health and Human Services 
     shall award grants to qualified organizations and 
     institutions to enable such organizations and institutions to 
     provide professional education for physicians and allied 
     health professionals in elder fall prevention.

     SEC. 6. DEMONSTRATION PROJECTS.

       Subject to the availability of appropriations, the 
     Secretary of Health and Human Services, acting through the 
     Director of the Centers for Disease Control and Prevention 
     and in consultation with the Director of the Agency for 
     Healthcare Research and Quality, shall carry out the 
     following:
       (1) Oversee and support demonstration and research projects 
     to be carried out by the National Safety Council in the 
     following areas:
       (A) A multi-State demonstration project assessing the 
     utility of targeted fall risk screening and referral 
     programs.
       (B) Programs targeting newly-discharged fall victims who 
     are at a high risk for second falls, which shall include, but 
     not be limited to modification projects for elders with 
     multiple sensory impairments, video and web-enhanced fall 
     prevention programs for caregivers in multifamily housing 
     settings, and development of technology to prevent and detect 
     falls.
       (C) Private sector and public-private partnerships, 
     involving home remodeling, home design and remodeling (in 
     accordance with accepted building codes and standards) and 
     nursing home and hospital patient supervision.
       (2)(A) Provide grants to qualified organizations and 
     institutions to design and carry out fall prevention programs 
     in residential and institutional settings.
       (B) Provide one or more grants to one or more qualified 
     applicants in order to carry out a multi-State demonstration 
     project to implement fall prevention programs targeted toward 
     multi-family residential settings with high concentrations of 
     elders, including identifying high risk populations, 
     evaluating residential facilities, conducting screening to 
     identify high risk individuals, providing pre-fall 
     counseling, coordinating services with health care and social 
     service providers and coordinating post-fall treatment and 
     rehabilitation.
       (C) Provide one or more grants to qualified applicants to 
     conduct evaluations of the effectiveness of the demonstration 
     projects in this section.

     SEC. 7. REVIEW OF REIMBURSEMENT POLICIES.

       (a) In General.--The Secretary of Health and Human Services 
     shall undertake a review of the effects of falls on the costs 
     of the Medicare and Medicaid programs and the potential for 
     reducing costs by expanding services covered by these two 
     programs. This review shall include a review of the 
     reimbursement policies of medicare and medicaid in order to 
     determine if additional fall-related services should be 
     covered or reimbursement guidelines should be modified.
       (b) Report.--Not later than 18 months after the date of the 
     enactment of this Act, the Secretary of Health and Human 
     Services shall submit to the Congress a report describing the 
     findings of the Secretary in conducting the review under 
     subsection (a).

     SEC. 8. AUTHORIZATION OF APPROPRIATION.

       In order to carry out the provisions of this Act, there are 
     authorized to be appropriated--
       (1) to carry out the national public education provisions 
     described in section 4(1), $5,000,000 for each of fiscal 
     years 2003 through 2005;
       (2) to carry out the State public education campaign 
     provisions of section 4(2), $8,000,000 for each of fiscal 
     years 2003 through 2005;
       (3) to carry out research projects described in section 5, 
     $10,000,000 for each of fiscal years 2003 through 2005; and

[[Page 841]]

       (4) to carry out the demonstration projects described in 
     section 6(1), $7,000,000 for each of fiscal years 2003 
     through 2005; and
       (5) to carry out the demonstration and research projects 
     described in section 6(2), $8,000,000 for each of fiscal 
     years 2003 through 2005.
                                 ______
                                 
      By Mr. LOTT (for Mr. McCain):
  S. 1923. A bill to provide for increased corporate average fuel 
economy standards, and for other purposes; to the Committee on 
Commerce, Science, and Transportation.
  Mr. McCAIN. Mr. President, today, I am introducing the ``Fuel Economy 
and Security Act of 2002.'' This legislation would reduce our Nation's 
oil consumption--and in doing so, our dependence on foreign oil, by 
increasing Corporate Average Fuel Economy, CAFE, standards for 
passenger cars and light trucks. This legislation would also expand the 
current CAFE credits system by allowing credit trading between 
automobile manufacturers, as well as other industries that emit 
greenhouse gases. Increasing CAFE standards, coupled with this new 
trading system, would strengthen our national security, while 
significantly reducing greenhouse gas emissions over the next decade 
and beyond.
  The terrorist attacks waged on this country on September 11, 2001, 
have brought into focus the need to reduce our dependence on all 
foreign oil, but most importantly, oil from the Persian Gulf. Compared 
with the United States' daily oil production of 6 million barrels, this 
country imports 9 million barrels of oil per day, 2.6 million barrels 
of which come directly from the Persian Gulf. This bill would result in 
daily oil savings by 2020 that are more than what the United States 
currently imports from that region. The cumulative oil savings between 
2007 and 2020 will be approximately 6.2 billion barrels. This savings 
from increased fuel economy is essential if we are to increase our 
energy independence and national security.
  Last year, the National Academy of Sciences, NAS, issued a report 
that concluded that the benefits resulting from CAFE since its 
implementation in 1978 clearly warrant government intervention to 
ensure fuel economy levels beyond what may result from market forces 
alone. The NAS panel found that CAFE has led to marked improvements in 
reducing greenhouse gas emissions, fuel consumption, and dependence on 
foreign oil.
  The debate over CAFE is complex because it requires striking a 
careful balance among many factors, including the environment, consumer 
preferences, and domestic employment. It is also important to consider 
the need for powerful and durable vehicles in rural America. I believe 
this bill would achieve a balance of many of these competing interests 
by providing adequate lead time to implement aggressive CAFE increases; 
furthering efforts to reduce greenhouse gases; and factoring in the 
ability of automobile manufacturers to meet annual standards based on 
existing technology.
  This bill would increase fuel economy standards by combining the 
dual-fleet CAFE structure, which currently requires that manufacturers 
meet separate fuel economy standards for their light trucks and 
passenger cars. The bill requires that manufacturers' fleets average 36 
miles per gallon by 2016. Combining the fleets eliminates the often-
criticized ``SUV loophole'' and provides flexibility to automobile 
manufacturers in designing their fleets.
  Reducing fuel consumption will accomplish the critical goal of 
reducing greenhouse gas emissions. At the recent World Economic Forum 
annual meeting in New York, it was reported that out of 142 nations, 
the U.S. ranked 51st on an environmental sustainability index that 
measures overall progress toward environmental sustainability for the 
evaluated countries. Alarmingly, the U.S. ranked 133rd out of 142 on 
reducing greenhouse gas emissions, one of the key indicators used to 
determine the sustainability index.
  The Committee on Commerce, Science, and Transportation has held 
several hearings to address the complex issue of greenhouse gas 
emissions. The bill I am introducing today, focuses on one of the major 
industrial greenhouse gas emitters, the automotive industry. While this 
bill proposes significant increases in the fuel economy of vehicles, it 
also expands the options that a manufacturer has to meet these 
requirements. Title II of this legislation proposes to establish a 
national registry for entities to register greenhouse gas emissions 
reductions. The registry would support the trading of credits 
established in both the CAFE system, and other voluntary trading 
practices.
  To ensure that automakers improve fuel economy and do not rely solely 
on purchasing credits from the registry to satisfy CAFE requirements, 
the bill has limited the amount of credits that can be purchased.
  I believe this bill provides a realistic approach to reducing our 
nation's dependence on foreign oil and preserving our climate for 
future generations. I seek my colleagues' careful consideration of this 
proposal.
  I ask unanimous consent that a copy of this bill be printed in the 
Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1923

       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 ``Fuel Economy and Security 
     Act of 2002''.

     SEC. 2. TABLE OF CONTENTS.

       The table of contents for this Act is as follows:

Sec. 1. Short Title.
Sec. 2. Table of Contents.
Title I--Improved fuel economy for vehicles
Sec. 101. Average fuel economy standards for passenger automobiles and 
              light trucks.
Sec. 102. Replacement of dual fuel credit with registry for trading 
              credits.
Sec. 103. Elimination of 2-fleet rule.
Sec. 104. Elimination of dual fuel credit.
Sec. 105. High occupancy vehicle exception.
Title II--Market--based Initiatives for Greenhouse Gas Reduction
Sec. 201. Market-based initiatives.
Sec. 202. Implementing panel.
Sec. 203. Definitions.
Title III--Vehicle Safety
Sec. 301. Roof crush standard.
Sec. 302. Safety rating labels.

              TITLE I--IMPROVED FUEL ECONOMY FOR VEHICLES

     SEC. 101. AVERAGE FUEL ECONOMY STANDARDS FOR PASSENGER 
                   AUTOMOBILES AND LIGHT TRUCKS.

       (a) Increased Standards.--Section 32902 of title 49, United 
     States Code, is amended--
       (1) by striking ``Non-Passenger Automobiles.--'' in 
     subsection (a) and inserting ``Prescription of Standards by 
     Regulation.--''; and
       (2) by striking ``(except passenger automobiles)''in 
     subsection (a) and inserting ``(except passenger automobiles 
     and light trucks)'';
       (3) by striking subsection (b) and inserting the following:
       ``(b) Standards for Passenger Automobiles and Light 
     Trucks.--
       ``(1) In general.--The Secretary of Transportation, after 
     consultation with the Administrator of the Environmental 
     Protection Agency, shall prescribe average fuel economy 
     standards for passenger automobiles and light trucks 
     manufactured by a manufacturer in each model year beginning 
     with model year 2007 in order to achieve a combined average 
     fuel economy standard for model year 2016 of 36 miles per 
     gallon. In prescribing average fuel economy standards under 
     this paragraph, the Secretary shall prescribe appropriate 
     annual fuel economy standard increases that increase the 
     applicable average fuel economy standard annually during the 
     9 model-year period beginning with model year 2007.
       ``(2) Deadline for regulations.--The Secretary shall 
     promulgate the regulations required by paragraph (1) in final 
     form no later than 24 months after the date of enactment of 
     the Fuel Economy and Security Act of 2002.
       ``(3) Default standards.--If the regulations required by 
     paragraph (1) are not promulgated in final form within the 
     period required by paragraph (2), then the average fuel 
     economy standard for passenger automobiles and light trucks 
     manufactured by a manufacturer is--
       ``(A) for model year 2012, a standard (expressed in miles 
     per gallon) that represents 50 percent of the difference 
     between--
       ``(i) 36 miles per gallon; and
       ``(ii) the average fuel economy for passenger automobiles 
     and light trucks manufactured by a manufacturer in model year 
     2006; and
       ``(B) 36 miles per gallon for model year 2016 and 
     thereafter.'';
       (4) by striking ``the standard'' in subsection (c)(1) and 
     inserting ``a standard'';
       (5) by striking the first and last sentences of subsection 
     (c)(2); and

[[Page 842]]

       (6) by striking ``(and submit the amendment to Congress 
     when required under subsection (c)(2) of this section)'' in 
     subsection (g).
       (b) Definition of Light Trucks.--
       (1) In general.--Section 32901(a) of title 49, United 
     States Code, is amended by adding at the end the following:
       ``(17) `light truck' means an automobile that the Secretary 
     decides by regulation--
       ``(A) is manufactured primarily for transporting not more 
     than 10 individuals;
       ``(B) is rated at not more than 10,000 pounds gross vehicle 
     weight;
       ``(C) is not a passenger automobile; and
       ``(D) does not fall within the exceptions from the 
     definition of `medium duty passenger vehicle' under section 
     8601-01 of title 40, Code of Federal Regulations.''.
       (2) Deadline for regulations.--The Secretary of 
     Transportation--
       (A) shall issue proposed regulations implementing the 
     amendment made by paragraph (1) not later than 1 year after 
     the date of the enactment of this Act; and
       (B) shall issue final regulations implementing the 
     amendment not later than 18 months after the date of the 
     enactment of this Act.
       (3) Effective date.--Regulations prescribed under paragraph 
     (1) shall apply beginning with model year 2007.
       (c) Applicability of Existing Standards.--This section does 
     not affect the application of section 32902 of title 49, 
     United States Code, to passenger automobiles or non-passenger 
     automobiles manufactured before model year 2007.
       (d) Authorization of Appropriations.--There are authorized 
     to be appropriated to the Secretary of Transportation to 
     carry out the provisions of chapter 329 of title 49, United 
     States Code, $25,000,000 for each of fiscal years 2003 
     through 2016.

     SEC. 102. FUEL ECONOMY STANDARD CREDITS.

       (a) In General.--Section 32903 of title 49, United States 
     Code, is amended by striking the second sentence of 
     subsection (a) and inserting ``The credits--
       ``(1) may be applied to any of the 3 model years 
     immediately following the model year for which the credits 
     are earned; or
       ``(2) transferred to the registry established under section 
     201 of the Fuel Economy and Security Act of 2002.''.
       (b) Greenhouse Gas Credits Applied to CAFE Standards.--
     Section 32903 of title 49, United States Code, is amended by 
     adding at the end the following:
       ``(g) Greenhouse Gas Credits.--
       ``(1) In general.--A manufacturer may apply credits 
     purchased through the registry established by section 201 of 
     the Fuel Economy and Security Act of 2002 toward any model 
     year after model year 2006 under subsection (d), subsection 
     (e), or both.
       ``(2) Limitation.--A manufacturer may not use credits 
     purchased through the registry to offset more than 10 percent 
     of the fuel economy standard applicable to any model year.''.

     SEC. 103. ELIMINATION OF 2-FLEET RULE.

       (a) In General.--Section 32904 of title 49, United States 
     Code, is amended--
       (1) by striking subsection (b); and
       (2) by redesignating subsections (c) through (e) as 
     subsections (b) through (d), respectively.
       (b) Effective Date.--The amendments made by subsection (a) 
     shall apply to model years 2007 and later.

     SEC. 104. ELIMINATION OF DUAL FUEL CREDIT.

       Section 32905 of title 49, United States Code, is repealed.

     SEC. 105. HIGH OCCUPANCY VEHICLE EXCEPTION.

       (a) In General.--Notwithstanding section 102(a)(1) of title 
     23, United States Code, a State may, for the purpose of 
     promoting energy conservation, permit a vehicle with fewer 
     than 2 occupants to operate in high occupancy vehicle lanes 
     if it is a hybrid vehicle or is certified by the Secretary of 
     Transportation, after consultation with the Administrator of 
     the Environmental Protection Agency, to be a vehicle that 
     utilizes only an alternative fuel.
       (b) Hybrid Vehicle Defined.--In this section, the term 
     ``hybrid vehicle'' means a motor vehicle other than a light 
     truck (as defined in section 32901(a)(17) of title 49, United 
     States Code)--
       (1) which--
       (A) draws propulsion energy from onboard sources of stored 
     energy which are both--
       (i) an internal combustion or heat engine using combustible 
     fuel; and
       (ii) a rechargeable energy storage system; or
       (B) recovers kinetic energy through regenerative braking 
     and provides at least 13 percent maximum power from the 
     electrical storage device;
       (2) which, in the case of a passenger automobile--
       (A) for 2002 and later model vehicles, has received a 
     certificate of conformity under section 206 of the Clean Air 
     Act (42 U.S.C. 7525) and meets or exceeds the equivalent 
     qualifying California low emission vehicle standard under 
     section 243(e)(2) of the Clean Air Act (42 U.S.C. 7583(e)(2)) 
     for that make and model year; and
       (B) for 2004 and later model vehicles, has received a 
     certificate that such vehicle meets the Tier II emission 
     level established in regulations prescribed by the 
     Administrator of the Environmental Protection Agency under 
     section 202(i) of the Clean Air Act (42 U.S.C. 7521(i)) for 
     that make and model year vehicle; and
       (3) which is made by a manufacturer.
       (c) Alternative Fuel Defined.--In this section, the term 
     ``alternative fuel'' has the meaning such term has under 
     section 301(2) of the Energy Policy Act of 1992 (42 U.S.C. 
     13211(2)).

    TITLE II--MARKET--BASED INITIATIVES FOR GREENHOUSE GAS REDUCTION

     SEC. 201. MARKET-BASED INITIATIVES.

       (a) Establishment of Registry for Voluntary Trading 
     Systems.--The Secretary of Commerce, through the 
     Undersecretary for Technology, shall establish a national 
     registry system for greenhouse gas trading among industry 
     under which emission reductions from the applicable baseline 
     are assigned unique identifying numerical codes by the 
     registry. Participation in the registry is voluntary. Any 
     entity conducting business in the United States may register 
     its emission results, including emissions generated outside 
     of the United States, on an entity-wide basis with the 
     registry, and may utilize the services of the registry.
       (b) Purposes.--The purposes of the national registry are--
       (1) to encourage voluntary actions to reduce greenhouse gas 
     emissions and increase energy efficiency, including 
     increasing the fuel economy of passenger automobiles and 
     light trucks and reducing the reliance by United States 
     markets on petroleum produced outside the United States used 
     to provide vehicular fuel;
       (2) to enable participating entities to record voluntary 
     greenhouse gas emissions reductions; in a consistent format 
     that is supported by third party verification;
       (3) to encourage participants involved in existing 
     partnerships to be able to trade emissions reductions among 
     partnerships;
       (4) to further recognize, publicize, and promote 
     registrants making voluntary and mandatory reductions;
       (5) to recruit more participants in the program; and
       (6) to help various entities in the nation establish 
     emissions baselines.
       (c) Functions.--The national registry shall carry out the 
     following functions:
       (1) Referrals.--Provide referrals to approved providers for 
     advice on--
       (A) designing programs to establish emissions baselines and 
     to monitor and track greenhouse gas emissions; and
       (B) establishing emissions reduction goals based on 
     international best practices for specific industries and 
     economic sectors.
       (2) Uniform reporting format.--Adopt a uniform format for 
     reporting emissions baselines and reductions established 
     through--
       (A) the Director of the National Institute of Standards and 
     Technology for greenhouse gas baselines and reductions 
     generally; and
       (B) the Secretary of Transportation for credits under 
     section 32903 of title 49, United States Code.
       (3) Record maintenance.--Maintain a record of all emission 
     baselines and reductions verified by qualified independent 
     auditors.
       (4) Encourage participation.--Encourage organizations from 
     various sectors to monitor emissions, establish baselines and 
     reduction targets, and implement efficiency improvement and 
     renewable energy programs to achieve those targets.
       (5) Public awareness.--Recognize, publicize, and promote 
     participants that--
       (A) commit to monitor their emissions and set reduction 
     targets;
       (B) establish emission baselines; and
       (C) report on the amount of progress made on their annual 
     emissions.
       (d) Transfer of Reductions.--The registry shall--
       (1) allow for the transfer of ownership of any reductions 
     realized in accordance with the program; and
       (2) require that the registry be notified of any such 
     transfer within 30 days after the transfer is effected.
       (e) Future Considerations.--Any reductions achieved under 
     this program shall be credited against any future mandatory 
     greenhouse gas reductions required by the government. Final 
     approval of the amount and value of credits shall be 
     determined by the agency responsible for the implementation 
     of the mandatory greenhouse gas emission reduction program, 
     except that credits under section 32903 of title 49, United 
     States Code, shall be determined by the Secretary of 
     Transportation. The Secretary of Commerce shall by rule 
     establish an appeals process, that may incorporate an 
     arbitration option, for resolving any dispute arising out of 
     such a determination made by that agency.
       (f) CAFE Standards Credits.--The Secretary of 
     Transportation shall work with the Secretary of Commerce and 
     the implementing panel established by section 202 to 
     determine the equivalency of credits earned under section 
     32903 of title 49, United States Code, for inclusion in the 
     registry. The Secretary shall by rule establish an appeals 
     process, that may incorporate an arbitration option, for 
     resolving any dispute arising out of such a determination.

[[Page 843]]



     SEC. 202. IMPLEMENTING PANEL.

       (a) Establishment.--There is established within the 
     Department of Commerce an implementing panel.
       (b) Composition.--The panel shall consist of--
       (1) the Secretary of Commerce or the Secretary's designee, 
     who shall serve as Chairperson;
       (2) the Secretary of Transportation or the Secretary's 
     designee; and
       (3) 1 expert in the field of greenhouse gas emissions 
     reduction, certification, or trading from each of the 
     following agencies--
       (A) the Department of Energy;
       (B) the Environmental Protection Agency;
       (C) the Department of Agriculture;
       (D) the National Aeronautics and Space Administration;
       (E) the Department of Commerce; and
       (F) the Department of Transportation.
       (c) Experts and Consultants.--Any member of the panel may 
     secure the services of experts and consultants in accordance 
     with the provisions of section 3109 of title 5, United States 
     Code, for greenhouse gas reduction, certification, and 
     trading experts in the private and non-profit sectors and may 
     also utilize any grant, contract, cooperative agreement, or 
     other arrangement authorized by law to carry out its 
     activities under this subsection.
       (d) Duties.--The panel shall--
       (1) implement and oversee the implementation of this 
     section;
       (2) promulgate--
       (A) standards for certification of registries and operation 
     of certified registries; and
       (B) standards for measurement, verification, and recording 
     of greenhouse gas emissions and greenhouse gas emission 
     reductions by certified registries;
       (3) maintain, and make available to the public, a list of 
     certified registries; and
       (4) issue rulemakings on standards for measuring, 
     verifying, and recording greenhouse gas emissions and 
     greenhouse gas emission reductions proposed to the panel by 
     certified registries, through a standard process of issuing a 
     proposed rule, taking public comment for no less than 30 
     days, then finalizing regulations to implement this act, 
     which will provide for recognizing new forms of acceptable 
     greenhouse gas reduction certification procedures.
       (e) Certification and Operation Standards.--The standards 
     promulgated by the panel shall include--
       (1) standards for ensuring that certified registries do not 
     have any conflicts of interest, including standards that 
     prohibit a certified registry from--
       (A) owning greenhouse gas emission reductions recorded in 
     any certified registry; or
       (B) receiving compensation in the form of a commission 
     where sources receive money for the total number of tons 
     certified;
       (2) standards for authorizing certified registries to enter 
     into agreements with for-profit persons engaged in trading of 
     greenhouse gas emission reductions, subject to paragraph (1); 
     and
       (3) such other standards for certification of registries 
     and operation of certified registries as the panel determines 
     to be appropriate.
       (f) Measurement, Verification, and Recording Standards.--
     The standards promulgated by the panel shall provide for, in 
     the case of certified registries--
       (1) ensuring that certified registries accurately measure, 
     verify, and record greenhouse gas emissions and greenhouse 
     gas emission reductions, taking into account--
       (A) boundary issues such as leakage and shifted 
     utilization; and
       (B) such other factors as the panel determines to be 
     appropriate;
       (2) ensuring that--
       (A) certified registries do not double-count greenhouse gas 
     emission reductions; and
       (B) if greenhouse gas emission reductions are recorded in 
     more than 1 certified registry, such double-recording is 
     clearly indicated;
       (3) determining the ownership of greenhouse gas emission 
     reductions and recording and tracking the transfer of 
     greenhouse gas emission reductions among entities (such as 
     through assignment of serial numbers to greenhouse gas 
     emission reductions);
       (4) measuring the results of the use of carbon 
     sequestration and carbon recapture technologies;
       (5) measuring greenhouse gas emission reductions resulting 
     from improvements in--
       (A) power plants;
       (B) automobiles (including types of passenger automobiles 
     and light trucks, as defined in section 32901(a)(16) and (17) 
     respectively, produced in the same model year);
       (C) carbon re-capture, storage and sequestration, including 
     organic sequestration and manufactured emissions injection, 
     and or storage.
       (D) other sources;
       (6) measuring prevented greenhouse gas emissions through 
     the rulemaking process and based on the latest scientific 
     data, sampling, expert analysis related to measurement and 
     projections for prevented greenhouse gas emissions in tons 
     including--
       (A) organic soil carbon sequestration practices;
       (B) forest preservation and re-forestation activities which 
     adequately address the issues of permanence, leakage and 
     verification; and
       (7) such other measurement, verification, and recording 
     standards as the panel determines to be appropriate.
       (g) Certification of Registries.--Except as provided in 
     subsection (h), a registrant that desires to be a certified 
     registry shall submit to the panel an application that--
       (1) demonstrates that the registrant meets each of the 
     certification standards established by the panel under 
     subsections (d) and (e); and
       (2) meets such other requirements as the panel may 
     establish.
       (h) Automobile Industry.--The Secretary of Transportation 
     is deemed to be the certified registrant for credits earned 
     under section 32903 of title 49, United States Code.
       (i) Annual Report.--Within 1 year after the date after the 
     date of enactment of this Act and biennially thereafter, the 
     panel shall report to the Congress on the status of the 
     program established under this section. The report shall 
     include an assessment of the level of participation in the 
     program and amount of progress being made on emission 
     reduction targets.

     SEC. 203. DEFINITIONS.

       In this title:
       (1) Greenhouse gas.--The term ``greenhouse gas'' includes--
       (A) carbon dioxide;
       (B) methane;
       (C) hydro fluorocarbons;
       (D) perfluorocarbons;
       (E) nitrous oxide; and
       (F) sulfur hexafluoride.
       (2) Baseline.--The term ``baseline'' means--
       (A) the greenhouse gas emissions, determined on an entity-
     wide basis for the participant's most recent previous 3-year 
     annual average of greenhouse gas emissions prior to the date 
     of enactment of this Act; or
       (B) if data is unavailable for that 3-year period, the 
     greenhouse gas emissions as of September 30, 2002, (or as 
     close to that date as such emission levels can reasonably be 
     determined). In promulgating regulations under this title, 
     the panel shall take into account greenhouse gas emission 
     reductions or off-setting actions taken by any entity before 
     the date on which the registry is established.
       (3) Certified registry.--The term ``certified registry'' 
     means a registry that has been certified by the panel as 
     meeting the standards promulgated under section 202(e) and 
     (f) and, for the automobile industry, the Secretary of 
     Transportation.
       (4) Greenhouse gas emissions.--The term ``greenhouse gas 
     emissions'' means the quantity of greenhouse gases emitted by 
     a source during a period, measured in tons of greenhouse 
     gases.
       (5) Greenhouse gas emission reduction.--The term 
     ``greenhouse gas emission reduction'' means a quantity equal 
     to the difference between--
       (A) the greenhouse gas emissions of a source during a 
     period; and
       (B) the greenhouse gas emissions of the source during a 
     baseline period of the same duration as determined by 
     registries and entities defined as owners of emission 
     sources.
       (6) Kyoto protocol.--The term ``Kyoto protocol'' means the 
     Kyoto Protocol to the United Nations Framework Convention on 
     Climate Change (including the Montreal Protocol to the 
     Convention on Substances that Deplete the Ozone Layer).
       (7) Panel.--The term ``panel'' means the implementing panel 
     established by section 202(a).
       (8) Registrant.--The term ``registrant'' means a private 
     person that operates a database recording quantified and 
     verified greenhouse gas emissions and emissions reductions of 
     sources owned by other entities.
       (9) Source.--The term ``source'' means a source of 
     greenhouse gas emissions.

                       TITLE III--VEHICLE SAFETY

     SEC. 301. ROOF CRUSH SAFETY STANDARD.

       (a) Improved Crashworthiness.--Subchapter II of chapter 301 
     of title 49, United States Code, is amended by adding at the 
     end the following:

     ``Sec. 30128. Improved crashworthiness

       ``Within 3 years after the date of enactment of the Fuel 
     Economy and Security Act of 2002, the Secretary of 
     Transportation, through the National Highway Traffic Safety 
     Administration, shall prescribe a motor vehicle safety 
     standard under this chapter for rollover crashworthiness 
     standards that includes--
       ``(1) dynamic roof crush standards;
       ``(2) improved seat structure and safety belt design;
       ``(3) side impact head protection airbags; and
       ``(4) roof injury protection measures.
       (b) Conforming Amendment.--The chapter analysis for chapter 
     301 of title 49, United States Code, is amended by inserting 
     after the item relating to section 30127 the following:

``30128. Improved crashworthiness''.

     SEC. 302. SAFETY RATING LABELS.

       Section 32302 of title 49, United States Code, is amended--
       (1) by redesignating paragraphs (3) and (4) of subsection 
     (a) as paragraphs (4) and (5), respectively;
       (2) by inserting after paragraph (2) of subsection (a) the 
     following:

[[Page 844]]

       ``(3) overall safety of the driver and passengers of the 
     vehicle in a collision.''; and
       (3) by striking subsection (b) and inserting the following:
       ``(b) Motor Vehicle Safety Information.--
       ``(1) In general.--In carrying out subsection (a), the 
     Secretary shall establish test criteria for use by 
     manufacturers in determining damage susceptibility, 
     crashworthiness, and the overall safety of vehicles for 
     drivers and passengers.
       ``(2) Presentation of data.--The Secretary shall prescribe 
     a system for presenting information developed under 
     paragraphs (1) through (3) of subsection (a) to the public in 
     a simple and understandable form that facilitates comparison 
     among the makes and models of passenger motor vehicles.
       ``(3) Label requirement.--Each manufacturer of a new 
     passenger motor vehicle (as defined in section 32304(a)(8)) 
     manufactured after September 30, 2005, and distributed in 
     commerce for sale in the United States shall cause the 
     information required by paragraph (2) to appear on, or 
     adjacent to, the label required by section 3 of the 
     Automobile Information Disclosure Act (15 U.S.C. 1232(b).''.
                                 ______
                                 
      By Mr. DASCHLE:
  S.J. Res. 31. A joint resolution suspending certain provisions of law 
pursuant to section 258(a)(2) of the Balanced Budget and Emergency 
Deficit Control Act of 1985; to the Committee on the Budget pursuant to 
section 258(a)(3) of the Balanced Budget and Emergency Deficit Control 
Act of 1985, for not to exceed five days of session.
  Mr. DASCHLE. Mr. President, I ask unanimous consent that the text of 
the joint resolution be printed in the Record.
  There being no objection, the joint resolution was ordered to be 
printed in the Record, as follows:

                              S.J. Res. 31

       Resolved by the Senate and House of Representatives of the 
     United States of America in Congress assembled, That the 
     Congress declares that the conditions specified in section 
     254(i) of the Balanced Budget and Emergency Deficit Control 
     Act of 1985 are met and the implementation of the 
     Congressional Budget and Impoundment Control Act of 1974, 
     chapter 11 of title 31, United States Code, and part C of the 
     Balanced Budget and Emergency Deficit Control Act of 1985 are 
     modified as described in section 258(b) of the Balanced 
     Budget and Emergency Deficit Control Act of 1985.

                          ____________________