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<bill bill-stage="Introduced-in-House" bill-type="olc" dms-id="HE50177AFE97348B19373ED2EEAFA272C" public-private="public">
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<dc:title>109 HR 5642 IH: Safe Climate Act of
</dc:title>
<dc:publisher>U.S. House of Representatives</dc:publisher>
<dc:date>2006-06-20</dc:date>
<dc:format>text/xml</dc:format>
<dc:language>EN</dc:language>
<dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
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</metadata>
	<form>
		<distribution-code display="yes">I</distribution-code>
		<congress>109th CONGRESS</congress>
		<session>2d Session</session>
		<legis-num>H. R. 5642</legis-num>
		<current-chamber>IN THE HOUSE OF REPRESENTATIVES</current-chamber>
		<action>
			<action-date date="20060620">June 20, 2006</action-date>
			<action-desc><sponsor name-id="W000215">Mr. Waxman</sponsor> (for
			 himself, <cosponsor name-id="M000725">Mr. George Miller of
			 California</cosponsor>, <cosponsor name-id="M000133">Mr. Markey</cosponsor>,
			 <cosponsor name-id="P000034">Mr. Pallone</cosponsor>,
			 <cosponsor name-id="S000033">Mr. Sanders</cosponsor>,
			 <cosponsor name-id="E000215">Ms. Eshoo</cosponsor>,
			 <cosponsor name-id="H000627">Mr. Hinchey</cosponsor>,
			 <cosponsor name-id="F000030">Mr. Farr</cosponsor>, <cosponsor name-id="D000399">Mr. Doggett</cosponsor>, <cosponsor name-id="B000574">Mr.
			 Blumenauer</cosponsor>, <cosponsor name-id="C001036">Mrs. Capps</cosponsor>,
			 <cosponsor name-id="I000026">Mr. Inslee</cosponsor>,
			 <cosponsor name-id="S001145">Ms. Schakowsky</cosponsor>,
			 <cosponsor name-id="S001153">Ms. Solis</cosponsor>, and
			 <cosponsor name-id="V000128">Mr. Van Hollen</cosponsor>) introduced the
			 following bill; which was referred to the <committee-name committee-id="HIF00">Committee on Energy and Commerce</committee-name>, and in
			 addition to the Committee on <committee-name committee-id="HFA00">International
			 Relations</committee-name>, for a period to be subsequently determined by the
			 Speaker, in each case for consideration of such provisions as fall within the
			 jurisdiction of the committee concerned</action-desc>
		</action>
		<legis-type>A BILL</legis-type>
		<official-title>To reduce greenhouse gas emissions and protect the
		  climate.</official-title>
	</form>
	<legis-body id="H76FAF1AB086C46B0B7A91727CF12CBA0" style="OLC">
		<section id="H966716B033654D4300864C57DDC04A0" section-type="section-one"><enum>1.</enum><header>Short title</header><text display-inline="no-display-inline">This Act may be cited as the
			 <quote><short-title>Safe Climate Act of
			 2006</short-title></quote>.</text>
		</section><section id="H5C71125AC59E475D8BFDF956F88033CB"><enum>2.</enum><header>Finding; Sense of
			 Congress</header>
			<subsection id="HDB734A685F6B4F2AB76399E712075F8E"><enum>(a)</enum><header>Findings</header><text>The
			 Congress finds as follows:</text>
				<paragraph id="H3CB49371E5C3483797C76200B4288589"><enum>(1)</enum><text>The United States
			 is a party to the 1992 United Nations Framework Convention on Climate Change,
			 which has the objective of stabilizing greenhouse gas concentrations in the
			 atmosphere at a level that would prevent <quote>dangerous anthropogenic
			 interference</quote> with the climate system.</text>
				</paragraph><paragraph id="H5C17F23E527542ACB8B232499F65D42"><enum>(2)</enum><text>To
			 achieve this objective, the increase in global mean surface temperature should
			 not exceed 2°C (3.6°F) above pre-industrial temperature.</text>
				</paragraph><paragraph id="H4CF469E48AE947DB8B1116B71C00A3C2"><enum>(3)</enum><text>The risks
			 associated with a temperature increase above 2°C (3.6°F) are grave, including
			 the disintegration of the Greenland ice sheet, which, if it were to melt
			 completely, would raise global average sea level by approximately 23 feet,
			 devastating many of the world’s coastal areas and population centers.</text>
				</paragraph><paragraph id="H3FCEEBE8FB884DADBA388B52F09C4D99"><enum>(4)</enum><text>The
			 Intergovernmental Panel on Climate Change projects that temperatures will rise
			 between 1.4°C to 5.8°C (2.5°F to 10.4°F) by the end of the century, under a
			 range of expected emissions trends.</text>
				</paragraph><paragraph id="H6A4B7783E6304E309496FF7392365BA"><enum>(5)</enum><text>Serious global
			 warming impacts have already been observed in the United States and worldwide,
			 including increases in heat waves and other extreme weather events, rise in sea
			 level, retreat of glaciers and polar ice, decline in mountain snowpack,
			 increased drought and wildfires, stronger hurricanes, ocean acidification,
			 extensive coral bleaching, migrations and shifts in the yearly cycles of plants
			 and animals, and the spread of infectious diseases.</text>
				</paragraph><paragraph id="H38F1660952D04EC3B364405BDCDA670"><enum>(6)</enum><text display-inline="yes-display-inline">Scientists project that under a mid-range
			 estimate of global warming, by 2050, roughly 25 percent of animal and plant
			 species will be committed to extinction.</text>
				</paragraph><paragraph id="H0B727982176D4C2C933CCCE44EB9CF5E"><enum>(7)</enum><text>Decisive action is
			 needed to minimize the many dangers posed by global warming.</text>
				</paragraph><paragraph id="H1E6D3E7593234B9192D3D0EC215475C5"><enum>(8)</enum><text>The timing of such
			 action is critical, given that greenhouse gases can persist in the atmosphere
			 for more than a century.</text>
				</paragraph><paragraph id="H35A4E55E2EBD4F2AA77235B4C0C27369"><enum>(9)</enum><text>Reductions in
			 emissions from today’s levels must begin within a decade to preserve the
			 ability to stabilize atmospheric greenhouse gas concentrations at levels likely
			 to protect against a temperature rise above 2°C (3.6°F).</text>
				</paragraph><paragraph id="H31EB1585234A4B52A9AE4F8D800B45"><enum>(10)</enum><text>With only 5 percent
			 of the world population, the United States emits approximately 20 percent of
			 the world’s total greenhouse gas emissions and must be a leader in addressing
			 global warming.</text>
				</paragraph><paragraph id="HF86790DEDEDD496EAACF6DBC9333EA11"><enum>(11)</enum><text>Existing energy
			 efficiency and clean, renewable energy technologies can reduce global warming
			 pollution, while saving consumers money, reducing our dependence on oil,
			 enhancing national security, cleaning the air, and protecting pristine places
			 from drilling and mining.</text>
				</paragraph></subsection><subsection id="H968F651B623247F2AC4085E18E526D30"><enum>(b)</enum><header>Sense of
			 Congress</header><text>It is the sense of the Congress that the United States
			 should participate in negotiations under the 1992 United Nations Framework
			 Convention on Climate Change with the objective of securing United States
			 participation in agreements that—</text>
				<paragraph id="H7F6E0F92484F4D22BD398E11ABEF172C"><enum>(1)</enum><text>establish
			 mitigation commitments by all countries that are major emitters of greenhouse
			 gases, consistent with the principle of common but differentiated
			 responsibilities;</text>
				</paragraph><paragraph id="HF05C42C5B5824910A16689A8D1E4CB6"><enum>(2)</enum><text>achieve reductions
			 in global greenhouse gas emissions at a pace and levels sufficient to avoid
			 dangerous interference with the earth’s climate; and</text>
				</paragraph><paragraph id="HE29CE300528744728972063DCDF00E"><enum>(3)</enum><text>advance and protect
			 the economic and national security interests of the United States.</text>
				</paragraph></subsection></section><section id="HBE2C895D1B4A4C0E9D22FDA44C14C31C"><enum>3.</enum><header>Amendments to the
			 clean air act</header><text display-inline="no-display-inline">The Clean Air
			 Act (<external-xref legal-doc="usc" parsable-cite="usc/42/7401">42 U.S.C. 7401 et seq.</external-xref>) is amended by adding at the end the
			 following:</text>
			<quoted-block display-inline="no-display-inline" id="HFF7133BD0DD340FB88B0D2A77464D0C3" style="OLC">
				<title id="H763A75EFD9114D549F00ABC598F78C03"><enum>VII</enum><header>Greenhouse Gas
				Emissions</header>
					<section id="HE02628795E6C4B18957DEDA318AD8F40"><enum>701.</enum><header>Emission
				Reduction Targets</header><text display-inline="no-display-inline">Not later
				than 2 years after the date of enactment of this section, the Administrator
				shall promulgate annual emission reduction targets for each calendar year
				beginning in 2010 and ending in 2050, as follows:</text>
						<paragraph id="HEF2452FE11DC4F8C9D23B8CF7E5D312C"><enum>(1)</enum><text>In 2010, the
				quantity of United States greenhouse gas emissions shall not exceed the
				quantity of United States greenhouse gases projected to be emitted in
				2009.</text>
						</paragraph><paragraph id="HCEA81572B8DF4157A04CF125E1FD8363"><enum>(2)</enum><text>Beginning in 2011,
				the quantity of United States greenhouse gas emissions shall be reduced by
				approximately 2 percent each year, such that the quantity of such emissions in
				2020 does not exceed the quantity of United States greenhouse gases emitted in
				1990.</text>
						</paragraph><paragraph id="H0936CF3FBF37422D9E7EA3FB26E1FB36"><enum>(3)</enum><text>Beginning in 2021,
				the quantity of United States greenhouse gas emissions shall be reduced by
				approximately 5 percent each year, such that the quantity of such emissions in
				2050 does not exceed 20 percent of the quantity of United States greenhouse
				gases emitted in 1990.</text>
						</paragraph></section><section id="H41F5C1A9FDA84D89AD54FAE377B6EA18"><enum>702.</enum><header>National
				Academies Review</header><text display-inline="no-display-inline">Not later
				than 5 years after the date of the enactment of this section, and every 5 years
				thereafter, the National Academies, acting through the National Academy of
				Sciences and the National Research Council, shall submit a report to the
				Administrator and the Congress on the prospects for avoiding dangerous
				anthropogenic interference with the climate system and the progress made to
				date. Such report shall—</text>
						<paragraph id="H764269E447C94221B995C0FCA9412B6F"><enum>(1)</enum><text>evaluate whether
				the emission reduction targets promulgated pursuant to section 701 are likely
				to be sufficient to avoid dangerous climate change, taking into account the
				actions of other nations;</text>
						</paragraph><paragraph id="H3C93638AE42D4049822B8B7901B9B242"><enum>(2)</enum><text display-inline="yes-display-inline">include an assessment of whether each of
				the following events, and any other indicator of significant global warming
				determined by the National Academies, has occurred or is likely to
				occur—</text>
							<subparagraph id="H913CA03BC3B1485C9860A09C00A098E6"><enum>(A)</enum><text>atmospheric
				greenhouse gas concentrations of greater than 450 carbon dioxide-equivalent
				ppm;</text>
							</subparagraph><subparagraph id="H23FD3100D4424D999B50F2E8497FB92F"><enum>(B)</enum><text>global mean
				surface temperature increase of greater than 2°C (3.6°F) from pre-industrial
				levels;</text>
							</subparagraph><subparagraph id="H5D0FEE659BDD45AAB4C0D750AFCD7D79"><enum>(C)</enum><text>substantial
				slowing of the Atlantic thermohaline circulation;</text>
							</subparagraph><subparagraph id="HB6EDC2C7911D4C94A5DC2D7258E700D7"><enum>(D)</enum><text>sea level rise of
				more than 8 inches;</text>
							</subparagraph><subparagraph id="H35D0AE2CED2C4291A8DA88B500E5F5B"><enum>(E)</enum><text>ice-free Arctic
				Ocean in the summer;</text>
							</subparagraph><subparagraph id="HE9FA24B471D0498C8E99B63849E71FB3"><enum>(F)</enum><text>decrease in the
				area of permafrost to below 50 percent of such area in 2000; and</text>
							</subparagraph><subparagraph id="H966F04083CCF4858AF5DC57BDA001DF9"><enum>(G)</enum><text>loss of over 40
				percent of the world’s coverage of coral reefs, due to increased ocean
				temperature or acidity; and</text>
							</subparagraph></paragraph><paragraph id="H2DC00982CAA94427B9EE603D035C4F55"><enum>(3)</enum><text display-inline="yes-display-inline">if the National Academies concludes that
				emission reduction targets promulgated pursuant to section 701 are not likely
				to be sufficient to avoid dangerous climate change, or that any of the events
				specified in paragraph (2) has occurred or is likely to occur—</text>
							<subparagraph id="HD704A9E7EA234B7DAE68B44B9CF1F3E2"><enum>(A)</enum><text>identify the
				needed amount of further reductions in atmospheric greenhouse gas
				concentrations; and</text>
							</subparagraph><subparagraph id="H6CEB1A22B6154D9AA16DB46DEC8868F3"><enum>(B)</enum><text>recommend
				additional United States and international actions to further reduce
				atmospheric greenhouse gas concentrations.</text>
							</subparagraph></paragraph></section><section id="HA7A74890F09C4CF0A4C67181FF28E00"><enum>703.</enum><header>Regulations</header>
						<subsection id="H7660E715CC754698833419AEBD7BCF4C"><enum>(a)</enum><header>In
				general</header><text display-inline="yes-display-inline">The Administrator
				shall promulgate not later than 2 years after the date of the enactment of this
				section, and may periodically revise, regulations requiring the reduction of
				United States greenhouse gas emissions to meet the emission reduction targets
				promulgated pursuant to section 701.</text>
						</subsection><subsection id="H4171B5A7274F4D588BB4D82F2C2C5938"><enum>(b)</enum><header>Rulemaking on
				recommendations of National Academies</header><text>If the National Academies
				submits a recommendation under section 702(3)(B) for a regulatory action by a
				Federal department or agency, and such regulatory action is within the
				authority of such department or agency (under law other than this subsection),
				the head of such department or agency shall, not later than 2 years after the
				submission of such recommendation, finalize a rulemaking—</text>
							<paragraph id="H7601F092A5B348108985BFAB91E24C79"><enum>(1)</enum><text>to carry out such
				regulatory action; or</text>
							</paragraph><paragraph id="HF4D76864E68E45AB9FAF6E6FAD84AB24"><enum>(2)</enum><text>to explain the
				reasons for declining to act.</text>
							</paragraph></subsection></section><section id="H84E5E4E02C684C6B9706F983381458C6"><enum>704.</enum><header>Market-Based
				Cap on Emissions</header>
						<subsection id="H564956E1FBAD441BA3006813816EE204"><enum>(a)</enum><header>In
				general</header><text display-inline="yes-display-inline">The regulations
				promulgated under section 703(a) shall—</text>
							<paragraph id="HCA37C9C192B042E8A6BBF189D1C154A5"><enum>(1)</enum><text>impose a cap on
				the greenhouse gas emissions of sources and sectors described in subsection
				(b)(1); and</text>
							</paragraph><paragraph id="HB9A676D0AEF84BBDA864BE07DBB4F6E1"><enum>(2)</enum><text>allow emissions
				trading among covered entities.</text>
							</paragraph></subsection><subsection id="H6A22ADBA1157453D84C197F810FED12B"><enum>(b)</enum><header>Scope</header><text>The
				regulations promulgated under section 703(a) shall—</text>
							<paragraph id="HD048724C8B5349BEBB1CD03444603B99"><enum>(1)</enum><text>apply the cap
				required by subsection (a)(1) to the sources or sectors of the United States
				economy with—</text>
								<subparagraph id="HE2184C448E56449592F160153775008D"><enum>(A)</enum><text>the largest
				emissions;</text>
								</subparagraph><subparagraph id="H73C1B3DDBD724BA6B02B869D6F5DA224"><enum>(B)</enum><text>the most
				cost-effective opportunities to reduce emissions; or</text>
								</subparagraph><subparagraph id="HA49FE4A1DDE74BE5B85F519C44F7026E"><enum>(C)</enum><text>other
				characteristics that the Administrator determines make the source or sector
				appropriate to include; and</text>
								</subparagraph></paragraph><paragraph id="HAC78E2731D6C42EBBBE5A9AB9E361CFD"><enum>(2)</enum><text>cover a sufficient
				proportion of total United States greenhouse gas emissions, such that, in
				combination with other measures adopted under this title and under the Safe
				Climate Act of 2006 and the amendments made by such Act, such regulations will
				ensure that total United States greenhouse gas emissions will not exceed the
				emission reduction targets promulgated pursuant to section 701.</text>
							</paragraph></subsection><subsection id="H1E7039606E4349D4A3F20041885CCE6E"><enum>(c)</enum><header>Allowances</header>
							<paragraph id="HA251B11BBF6848979D24CC2BFD45E2D5"><enum>(1)</enum><header>In
				general</header><text>The regulations promulgated under section 703(a) shall
				provide for the Administrator to issue each year a quantity of greenhouse gas
				emissions allowances equivalent to the emissions allowed under the cap required
				by subsection (a)(1) for such year. Each such allowance shall authorize the
				emission of one carbon dioxide equivalent. Such an allowance does not
				constitute a property right, and nothing in any provision of law shall be
				construed to limit the authority of the United States to terminate or limit
				such an allowance.</text>
							</paragraph><paragraph id="HF6FC9D241C8647BCB630002F654EC532"><enum>(2)</enum><header>Trading</header><text>Allowances
				issued under this section may be held and traded by any person.</text>
							</paragraph><paragraph id="H00B3CBF214D94A8AA5ADED00FBB09E24"><enum>(3)</enum><header>Flexibility</header><text>Allowances
				issued under this section may be used in the year of issuance or may be banked
				for use in a year subsequent to the year of issuance.</text>
							</paragraph></subsection><subsection id="H7BDC3E7FB987415FA078EA0028F2F5A2"><enum>(d)</enum><header>Distribution of
				allowances</header>
							<paragraph id="HF35B64F88FD24A5097A0453501691438"><enum>(1)</enum><header>Submission of
				plan by President</header>
								<subparagraph id="H3EA9C617BDA74C31852133F8E433B94D"><enum>(A)</enum><header>In
				general</header><text>Within one year of the enactment of this title, the
				President, in consultation with the Administrator and other appropriate
				department and agency heads, shall develop and submit to the Congress a
				plan—</text>
									<clause id="H920FD901252B4AF384DA65FE737B1BCA"><enum>(i)</enum><text>to
				distribute the allowances issued under this section through auctions, and, at
				the discretion of the President and subject to subparagraph (B)(iii), through
				allocations without charge to entities not covered by the cap or covered
				entities;</text>
									</clause><clause id="H970EF1E8BCE746D2827FB1CD1F067D96"><enum>(ii)</enum><text>to deposit the
				proceeds of such auctions in the Climate Reinvestment Fund established by
				subsection (h); and</text>
									</clause><clause id="H34606B27BB4F47449FA219DC93D7ADAD"><enum>(iii)</enum><text>to ensure that
				such allowances are distributed, and such proceeds are used, in a manner
				consistent with the goals described in subsection (e).</text>
									</clause></subparagraph><subparagraph id="H3825A5271E5142ABAD0549A332EBA8E7"><enum>(B)</enum><header>Contents</header><text>The
				plan submitted under subparagraph (A) shall—</text>
									<clause id="HA56942C5AA89448AA2D756E62985559C"><enum>(i)</enum><text>identify the
				department or agency responsible for implementing each action required;</text>
									</clause><clause id="HE5D918C2381644E8A90070A7DC97F810"><enum>(ii)</enum><text>ensure that
				allowances are distributed not later than January 1, 2010, for calendar year
				2010; and</text>
									</clause><clause id="H45B8F152ACDE48AAB44261738696CB01"><enum>(iii)</enum><text>in no case allow
				any distribution of allowances without charge to result in the creation of
				windfall profits for covered entities.</text>
									</clause></subparagraph></paragraph><paragraph id="H49D936CE3312445286BBAFEDE8D9C55"><enum>(2)</enum><header>Plan
				implementation</header><text>The Administrator and the head of each department
				or agency identified in paragraph (1)(B)(i) shall give the Congress a period of
				one year to review and act upon the plan submitted under paragraph (1). If
				during such period no statute is enacted for the express purpose of codifying
				such plan or an alternative to such plan, the Administrator and the head of
				each such department or agency shall implement the actions identified in the
				plan.</text>
							</paragraph></subsection><subsection id="H9EB81ACA687646979CCC65A88F984916"><enum>(e)</enum><header>Goals</header><text display-inline="yes-display-inline">The goals described in this subsection are
				the following:</text>
							<paragraph id="H57E1114D624A412193FE68DC851B2316"><enum>(1)</enum><text>Maximizing public
				benefit and promoting economic growth.</text>
							</paragraph><paragraph id="H53AFFEE1EAD44BF3B9857B29F911D7CE"><enum>(2)</enum><text>Mitigating the
				effect of any energy cost increases to consumers, particularly low-income
				consumers.</text>
							</paragraph><paragraph id="H1FA9BB711DA64B7E88FCD3A619AC42C4"><enum>(3)</enum><text>Providing
				equitable transition assistance to any workers and regions affected by a
				transition away from high carbon-emitting energy sources.</text>
							</paragraph><paragraph id="H3468D0EF918E443D969E3D94583FE142"><enum>(4)</enum><text>Encouraging
				research, development, and commercial deployment of innovative technologies for
				avoiding, reducing, or sequestering greenhouse gas emissions.</text>
							</paragraph><paragraph id="HD53A743E11C641DFAA5CB5E669D852B3"><enum>(5)</enum><text>Encouraging
				reduced carbon emissions from, and enhanced sequestration of, carbon in the
				forest and agricultural sectors.</text>
							</paragraph><paragraph id="H29364BEA0EF64328AFF48B54DF31BCF0"><enum>(6)</enum><text>Recognizing and
				rewarding early reductions of greenhouse gases.</text>
							</paragraph><paragraph id="H3320C301079B4C66ABBD78740626F335"><enum>(7)</enum><text>Supporting
				activities, including providing support for State activities, to protect
				against and mitigate the impacts of climate change, including depletion of
				snowpack and water supplies, droughts, wildfires, enhanced coastal erosion, sea
				level rise, higher storm surges, more intense precipitation events and
				hurricanes, spread of disease, damage to fish and wildlife habitat, commercial
				harms (such as damage to the maple syrup and fishing industries), and
				agricultural and forestry losses due to drought, disease, and insect
				infestations.</text>
							</paragraph></subsection><subsection id="H0A10F06583A84AA2B4CEC11F63CFD51C"><enum>(f)</enum><header>Monitoring</header><text>The
				Administrator shall ensure that greenhouse gas emissions and the use of
				allowances issued under this section are accurately tracked, reported, and
				verified, to ensure that the cap-and-trade system established pursuant to this
				section is robust and enforceable.</text>
						</subsection><subsection id="H8EEAE7137E91412DBE0100F0F197C603"><enum>(g)</enum><header>Enforcement</header>
							<paragraph id="H95E6C27FECEA4E14B22F1CE9DDC984AB"><enum>(1)</enum><header>In
				general</header><text>In the case of excess greenhouse gas emissions under this
				section by an entity during any calendar year, the regulations promulgated
				under section 703(a) shall require the entity—</text>
								<subparagraph id="HB38BA7A6AA77475DA1921C43B6E200F5"><enum>(A)</enum><text>to submit
				allowances for such emissions during the following calendar year; and</text>
								</subparagraph><subparagraph id="H5B416675ABF347AB8829DD71B188BFD7"><enum>(B)</enum><text>to pay a civil
				penalty in an amount determined under paragraph (2).</text>
								</subparagraph></paragraph><paragraph id="H7A8747A3380A43CA8298D3113D2023B4"><enum>(2)</enum><header>Amount of civil
				penalty</header><text>For each quantity of excess greenhouse gas emissions
				constituting one carbon dioxide equivalent, the amount of a civil penalty under
				this subsection shall be twice the market price for an allowance at the end of
				the calendar year in which the excess emissions occurred. The Administrator
				shall establish the method of determining such market price.</text>
							</paragraph><paragraph id="H34DC18CF79A848A6A538CE72F9C415C"><enum>(3)</enum><header>No demand
				required</header><text>A civil penalty under this subsection shall be due and
				payable to the Administrator without demand.</text>
							</paragraph></subsection><subsection id="H6F898B15105143E99EA648C3AEE3587"><enum>(h)</enum><header>Climate
				reinvestment fund</header>
							<paragraph id="H4C267CA66322497B8C48A03B03079116"><enum>(1)</enum><header>Establishment</header><text display-inline="yes-display-inline">There is established in the Treasury of the
				United States a fund to be known as the <quote>Climate Reinvestment
				Fund</quote> (in this subsection referred to as the <quote>Fund</quote>). The
				Fund shall consist of such amounts as may be appropriated pursuant to paragraph
				(2) to the Fund. Such amounts shall remain available until expended.</text>
							</paragraph><paragraph id="H4999DEAAF1D44404B252C7BFC3DBDC1E"><enum>(2)</enum><header>Authorization of
				appropriations</header><text>For each fiscal year, there is authorized to be
				appropriated to the Fund an amount equal to the sum of—</text>
								<subparagraph id="H5DDA0684F0DB4983BD8D991988F1E5F6"><enum>(A)</enum><text display-inline="yes-display-inline">the amount collected through auctions of
				allowances issued under this section; and</text>
								</subparagraph><subparagraph id="H0995492A16EB4E81B5130913DB1D93D4"><enum>(B)</enum><text>the amount of
				civil penalties assessed under subsection (g).</text>
								</subparagraph></paragraph><paragraph id="H3E4B7EDC38DA4AC5ACA5D05400C8538D"><enum>(3)</enum><header>Use of
				funds</header><text>Amounts in the Fund and available pursuant to an
				appropriations Act shall be expended by the President to further the goals
				described in subsection (e).</text>
							</paragraph><paragraph id="H9AB3C14F6BE243648629C26CBA59AC50"><enum>(4)</enum><header>Investment</header><text>The
				Secretary of the Treasury shall invest such amounts of the Fund as such
				Secretary determines are not required to meet current withdrawals from the
				Fund.</text>
							</paragraph></subsection><subsection id="H4D22521D181343959525258244EEB75C"><enum>(i)</enum><header>Definition</header><text>In
				this section, the term <term>covered entity</term> means an entity covered by
				the cap under subsection (a)(1).</text>
						</subsection></section><section id="HF0A5DE15017F4455AD1662FC4300D554"><enum>705.</enum><header>Additional
				Authority to Regulate Greenhouse Gas Emissions</header>
						<subsection id="HF8A23194446D47F286CFE9CBC8D89768"><enum>(a)</enum><header>Additional
				regulations</header><text display-inline="yes-display-inline">The regulations
				promulgated under section 703(a) may include additional regulations to reduce
				emissions of greenhouse gases from any source or sector, irrespective of
				whether the source or sector is described in section 704(b)(1). Regulations
				under this section may include emissions performance standards, efficiency
				performance standards, best management practices, technology-based
				requirements, and other forms of requirements.</text>
						</subsection><subsection id="HF589D383EE7A4C39A69383897737B0D7"><enum>(b)</enum><header>Relation to
				other authority</header><text>The authorizations under this title are in
				addition to the Administrator’s authority to regulate greenhouse gas emissions
				pursuant to other provisions of law in effect on the date of the enactment of
				the Safe Climate Act of 2006.</text>
						</subsection></section><section id="H5CD15BB8B8194E35BEF736728100B3FD"><enum>706.</enum><header>Greenhouse Gas
				Emissions Standards for Motor Vehicles</header>
						<subsection id="HA38F1FDA3CD44E3994126F159804E7B0"><enum>(a)</enum><header>In
				general</header><text display-inline="yes-display-inline">The regulations
				promulgated under section 703(a) shall include regulations under section 202
				setting standards for greenhouse gas emissions from motor vehicles. These
				standards shall reduce such emissions at least as quickly and at least as much
				(on an average vehicle basis) as the standards adopted by the California Air
				Resources Board at its September 23–24, 2004 hearing (California Code of
				Regulations, title 13, sec. 1961.1).</text>
						</subsection><subsection id="H930E48F5108B4C3A868F1228CA5C11EB"><enum>(b)</enum><header>Revision of
				standards</header><text>Not later than January 1, 2014, and every 5 years
				thereafter, the Administrator shall promulgate regulations revising such
				standards to further reduce greenhouse gas emissions from motor vehicles,
				taking into account the reductions needed to achieve the emission reduction
				targets promulgated pursuant to section 701, as well as the technological
				feasibility of achieving tighter standards of various stringencies.</text>
						</subsection></section><section id="H00BEF9DA52D44281B272A4DB8C531A3"><enum>707.</enum><header>Savings
				Clause</header><text display-inline="no-display-inline">Nothing in this title
				shall be interpreted to preempt or limit State actions to address climate
				change.</text>
					</section><section id="H786C32194A574C1FB21B361C847E09A8"><enum>708.</enum><header>Definitions</header><text display-inline="no-display-inline">In this title:</text>
						<paragraph id="H7C8D2103663646CC89A4AD1E154E7FD5"><enum>(1)</enum><header>Carbon dioxide
				equivalent</header><text>The term <term>carbon dioxide equivalent</term> means
				the quantity of greenhouse gas that makes the same contribution to global
				warming as 1 metric ton of carbon dioxide, as determined by the Administrator,
				taking into account the global warming potentials published by the
				Intergovernmental Panel on Climate Change.</text>
						</paragraph><paragraph id="H5E7E264F25E744429946099EF6EA7689"><enum>(2)</enum><header>Greenhouse
				gas</header><text>The term <term>greenhouse gas</term> means—</text>
							<subparagraph id="HA52319A75BC14D029FB94EC141F3C5E5"><enum>(A)</enum><text>carbon
				dioxide;</text>
							</subparagraph><subparagraph id="H9893F5A104F14D00B240129891E0D1F2"><enum>(B)</enum><text>methane;</text>
							</subparagraph><subparagraph id="HBBD461906B344D7C979B8CB0E6BFE2AE"><enum>(C)</enum><text>nitrous
				oxide;</text>
							</subparagraph><subparagraph id="H12E475507D5D490E8B5BDC95A3C26CC3"><enum>(D)</enum><text>hydrofluorocarbons;</text>
							</subparagraph><subparagraph id="H3119474FE4FB497BBAC23B0091C23F10"><enum>(E)</enum><text>perfluorocarbons;</text>
							</subparagraph><subparagraph id="HAD8A12686F624AD39736D2F525D9CE43"><enum>(F)</enum><text>sulfur
				hexafluoride; or</text>
							</subparagraph><subparagraph id="H020EFFBAE8DF493E81DC4186E9E8D5F0"><enum>(G)</enum><text>any other
				anthropogenically-emitted gas that is determined by the Administrator, after
				notice and comment, to contribute to global warming to a non-negligible
				degree.</text>
							</subparagraph></paragraph><paragraph id="HF010AE010FA64A94ADA898471E54A081"><enum>(3)</enum><header>United States
				greenhouse gas emissions</header><text display-inline="yes-display-inline">The
				term <term>United States greenhouse gas emissions</term> means the total
				quantity of greenhouse gas emissions calculated by the Administrator on an
				annual basis and reported to the United Nations Framework Convention on Climate
				Change
				Secretariat.</text>
						</paragraph></section></title><after-quoted-block>.</after-quoted-block></quoted-block>
		</section><section id="HD7C092A5F096468395621046D33146B3"><enum>4.</enum><header>National
			 Renewable Energy Standard</header><text display-inline="no-display-inline">Title VI of the Public Utility Regulatory
			 Policies Act of 1978 (<external-xref legal-doc="usc" parsable-cite="usc/16/824a-4">16 U.S.C. 824a–4 et seq.</external-xref>) is amended by adding at the end
			 the following:</text>
			<quoted-block display-inline="no-display-inline" id="HC7C874CF7D1F4042872FC55D08BDA6AE" style="OLC">
				<section id="H7BE894497DF44682B4334C96BEBE13AB"><enum>610.</enum><header>National
				Renewable Energy Standard</header>
					<subsection id="HEB4BCAC1E2F9472BA18E9D70BF0A97C"><enum>(a)</enum><header>In
				general</header><text display-inline="yes-display-inline">The Secretary shall
				promulgate regulations requiring that—</text>
						<paragraph id="H13A0547DF7394D3DA7C8FE4754DD01B0"><enum>(1)</enum><text>beginning in
				calendar year 2009, the percentage of electric energy generated from renewable
				sources that is sold at the retail level in the United States shall increase
				each year; and</text>
						</paragraph><paragraph id="HA28154D5424846CBBE2424EF6490104B"><enum>(2)</enum><text>in calendar year
				2020 and each subsequent calendar year, such percentage shall be not less than
				20 percent of the total electricity sold at the retail level in the United
				States.</text>
						</paragraph></subsection><subsection id="H18144F0D2C4A46FA89AB0F3E1997025"><enum>(b)</enum><header>Consultation</header><text>The
				Secretary shall carry out this section in consultation with the Administrator
				of the Environmental Protection Agency.</text>
					</subsection><subsection id="HD63798B300BA4FBDB89E6DBE43E0B37"><enum>(c)</enum><header>Subsequent
				increases</header><text>Upon petition or upon the Secretary’s own initiative,
				the Secretary may increase the percentage required by subsection (a)(2).</text>
					</subsection><subsection id="H7A21A41EFB34489990832963E6AD848E"><enum>(d)</enum><header>Rule of
				construction</header><text>Nothing in this section shall be construed to
				preempt or limit State actions to enhance renewable energy generation or energy
				efficiency.</text>
					</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
		</section><section id="H3C66264B1CC14CBBBCDCDF1CDC82E33B"><enum>5.</enum><header>National Energy
			 Efficiency Standard</header><text display-inline="no-display-inline">Title VI
			 of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 824a–4 et
			 seq.), as amended by section 4 of this Act, is amended by adding at the end the
			 following:</text>
			<quoted-block display-inline="no-display-inline" id="HA133FCD871CA43618D292CE0DAD6EE82" style="OLC">
				<section id="HB6D42AD6FB6A49E2BB28F5D84700B2C6"><enum>611.</enum><header>National Energy
				Efficiency Standard</header>
					<subsection id="H3A6A5D54E0494027B08CCF2234076E3B"><enum>(a)</enum><header>In
				general</header><text display-inline="yes-display-inline">The Secretary shall
				promulgate regulations in accordance with this section setting end-user savings
				targets for retail electric-energy and natural gas suppliers.</text>
					</subsection><subsection display-inline="no-display-inline" id="H05EAA6E1511F434387CCF75117C8817"><enum>(b)</enum><header>Consultation</header><text>The
				Secretary shall carry out this section in consultation with the Administrator
				of the Environmental Protection Agency.</text>
					</subsection><subsection id="HFD1AC823406C4E1ABDAEB9E1CD62BAA"><enum>(c)</enum><header>Requirements</header><text>With
				respect to targets under subsection (a):</text>
						<paragraph id="HF3354AA090CE43D7B62E6843A8A70045"><enum>(1)</enum><text>The targets shall
				require each supplier to secure annual savings of a set percentage of the
				supplier’s most recent year’s sales to retail customers.</text>
						</paragraph><paragraph id="HE04A90C03EAC49AA0050F1863F2F406"><enum>(2)</enum><text>The savings shall
				be achieved through end-use efficiency improvements at customer
				facilities.</text>
						</paragraph><paragraph id="HCA18DEAF20604912ABC03066D7C7D6A7"><enum>(3)</enum><text>The targets shall
				increase gradually from 0.25 percent of sales in 2009 to 1 percent of sales in
				2012 and each year thereafter through 2020.</text>
						</paragraph><paragraph id="HC0D9830F4BDF414D0074A30215A1E88B"><enum>(4)</enum><text>The targets are
				cumulative. Each year’s savings shall be achieved in addition to the previous
				years’ savings.</text>
						</paragraph></subsection><subsection id="H34C2DED182CB4903BAAE005F82ACC4E5"><enum>(d)</enum><header>Required
				percentages after <enum-in-header>2020</enum-in-header></header><text>The
				Secretary may, upon petition or upon the Secretary’s own initiative, increase
				the required percentage of end-user savings for years after 2020.</text>
					</subsection><subsection id="H50C5AFB49C5940638E236E102294E105"><enum>(e)</enum><header>Market-based
				trading system</header><text>The Secretary shall allow suppliers to achieve the
				targets under subsection (a) through a market-based trading system.</text>
					</subsection><subsection id="H2D6F97E7480647BD9762913CD3BD295F"><enum>(f)</enum><header>Rule of
				construction</header><text>Nothing in this section shall be construed to
				preempt or limit State actions to enhance renewable energy generation or energy
				efficiency.</text>
					</subsection></section><after-quoted-block>.</after-quoted-block></quoted-block>
		</section></legis-body>
</bill>


