,,ii  #aae? ,,congress  #b;d ,session   
,s4 #cgia  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ai1 #bjah    
,mr4 ,coons 7= himself & ,mr4 ,flake7   
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to create a ,c>bon 
,divid5d ,tru/ ,fund = ! ,am]ican p 9   
ord] to enc\rage m>ket-driv5 innovation 
( clean en]gy te*nologies & m>ket       
effici5cies :i* w r$uce h>mful pollution
 & leave a heal?i]1 m /able1 & m        
prosp]\s nation = future g5]ations4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,en]gy ,innovation & ,c>bon ,divid5d    
,act ( #bjah4  #b4 ,f9d+s ,! ,congress  
f9ds t--  7#a7 effici5t m>kets /r5g!n   
our economy & b5efit our ,nation by     
enc\rag+ competition1 innovation1 &     
te*nological progress2  7#b7 effici5t   
m>kets %\ld reflect all co/s ( goods to 
ensure t !y advance ,am]ica's prosp]ity 
& national int]e/s2  7#c7 emissions (   
c>bon pollution & o!r h>mful pollutants 
into our ,nation's air impose sub/antial

 co/s on all ,am]icans & on future      
g5]ations2 &  7#d7 creation ( a ,c>bon  
,divid5d ,tru/ ,fund1 to be di/ribut$ to
 ! ,am]ican p1 w make m>kets m effici5t1
 create jobs1 & /imulate competition1   
innovation1 & te*nological progress t   
b5efit all ,am]icans & future g5]ations4
  #c4 ,c>bon divid5ds & c>bon fee  7a7  
,9 g5]al ,! ,int]nal ,rev5ue ,code (    
#aihf is am5d$ by add+ at ! end ! foll[+
 new subtitle3  ,l ,,c>bon ,,divid5ds   
,,& ,,c>bon ,,fee  ,*apt] #aja4 ,c>bon  
,fees ,*apt] #ajb4 ,c>bon ,bord] ,fee   
,adju/m5t  #aja ,c>bon ,fees  ,sec4     
#iija4 ,def9itions4 ,sec4 #iijb4 ,c>bon 
fee4 ,sec4 #iijc4 ,emissions r$uction   
s*$ule4 ,sec4 #iijd4 ,fee on fluor9at$  
gre5h\se gases4 ,sec4 #iije4            
,decommission+ ( c>bon fee4 ,sec4 #iijf4
 ,c>bon capture & seque/ration4 ,sec4   
#iijg4 ,adm9i/rative au?ority4  #iija4  
,def9itions ,= purposes ( ?is subtitle3 
7a7 ,adm9i/rator ,! t]m ,adm9i/rator    
means ! ,adm9i/rator ( ! ,environm5tal  
,protection ,ag5cy4  7b7 ,c>bon dioxide 

equival5t or ,,co#b-;e ,! t]m c>bon     
dioxide equival5t or ,,co#b-;e means !  
numb] ( metric tons ( c>bon dioxide     
emissions ) ! same global w>m+ pot5tial 
z "o metric ton ( ano!r gre5h\se gas4   
7c7 ,c>bon-,int5sive product ,! t]m     
c>bon-int5sive product means1 z id5tifi$
 by ! ,secret>y by rule-- 7#a7 any      
manufactur$ or agricultural product :i* 
! ,secret>y 9 consultation ) !          
,adm9i/rator det]m9es is                
emissions-int5sive & trade-expos$1      
except t no cov]$ fuel is a             
c>bon-int5sive product1 &  7#b7 until   
su* "t t ! ,secret>y promulgates rules  
id5tify+ c>bon-int5sive products1 !     
foll[+ %all be consid]$ c>bon-int5sive  
products3 iron1 /eel1 /eel mill products
 7includ+ pipe & tube71 alum9um1 cem5t1 
glass 7includ+ flat1 conta9]1 &         
specialty glass & fib]glass71 pulp1     
pap]1 *emicals1 or indu/rial c]amics4   
7d7 ,c>bon leakage ,! t]m c>bon leakage 
means an increase ( global gre5h\se gas 
emissions :i* are sub/antially due to ! 

relocation ( gre5h\se gas s\rces f !    
,unit$ ,/ates to jurisdictions :i* lack 
comp>able controls ^u gre5h\se gas      
emissions4  7e7 ,co/ ( c>bon or c>bon   
co/s ,! t]m co/ ( c>bon or c>bon co/s   
means a national or sub-national        
gov]nm5t policy :i* explicitly places a 
price on gre5h\se gas pollution & %all  
be limit$ to ei!r a tax on gre5h\se     
gases or a sy/em ( cap-&-trade4 ,! co/ (
 c>bon is express$ z ! price p] ton (   
,,co#b-;e4  7f7 ,cov]$ entity ,! t]m    
cov]$ entity means-- 7#a7 9 ! case (    
crude oil--  7,a7 a ref9]y op]at+ 9 !   
,unit$ ,/ates1 &  7,b7 any import] ( any
 petroleum or petroleum product into !  
,unit$ ,/ates1  7#b7 9 ! case ( coal--  
7,a7 any coal m9+ op]ation 9 ! ,unit$   
,/ates1 &  7,b7 any import] ( coal into 
! ,unit$ ,/ates1  7#c7 9 ! case (       
natural gas--  7,a7 any entity ent]+    
pipel9e quality natural gas into !      
natural gas transmission sy/em1 &  7,b7 
any import] ( natural gas into ! ,unit$ 
,/ates1  7#d7 9 ! case ( fluor9at$ gases

 any entity requir$ to report ! emission
 ( a fluor9at$ gas "u "p #ih ( title    
#dj1 ,code ( ,f$]al ,regulations1 &     
7#e7 any entity or class ( entities :i*1
 z det]m9$ by ! ,secret>y1 is           
transport+1 sell+1 or o!rwise us+ a     
cov]$ fuel 9 a mann] :i* emits a        
gre5h\se gas to ! atmosph]e & :i* has n 
be5 cov]$ by ! c>bon fee1 ! fluor9at$   
gre5h\se gas fee1 or ! c>bon bord] fee  
adju/m5t4  7g7 ,cov]$ fuel ,! t]m cov]$ 
fuel means crude oil1 natural gas1 coal1
 or any o!r product d]iv$ f crude oil1  
natural gas1 or coal :i* %all be us$ s z
 to emit gre5h\se gases to ! atmosph]e4 
7h7 ,crude oil ,! t]m crude oil means   
unref9$ petroleum4  7i7 ,export ,! t]m  
export means to transport a product f )9
 ! jurisdiction ( ! ,unit$ ,/ates to    
p]sons outside ! ,unit$ ,/ates4  7j7    
,fluor9at$ gre5h\se gas ,! t]m fluor9at$
 gre5h\se gas means sulfur hexafluoride 
7,,sf#f71 nitrog5 trifluoride 7,,nf#c71 
& any fluoroc>bon except = controll$    
sub/ances z def9$ 9 subp>t ,a ( "p #hb (

 title #dj1 ,code ( ,f$]al ,regulations1
 & sub/ances ) vapor pressures ( less   
?an #a mm ( ,hg absolute at #be degrees4
 ,) ^! exceptions1 fluor9at$ gre5h\se   
gas includes b is n limit$ to any       
hydr(luoroc>bon1 any p]fluoroc>bon1 any 
fully fluor9at$ l9e>1 bran*$ or cyclic  
alkane1 e!r1 t]ti>y am9e or am9oe!r1 any
 p]fluoropolye!r1 & any                 
hydr(luoropolye!r4  7k7 ,fossil fuel ,! 
t]m fossil fuel means coal1 coal        
products1 petroleum1 petroleum products1
 or natural gas4  7l7 ,full fuel cycle  
gre5h\se gas emissions ,! t]m full fuel 
cycle gre5h\se gas emissions means !    
gre5h\se gas cont5t ( a cov]$ fuel plus 
t cov]$ fuel's up/ream gre5h\se gas     
emissions4  7m7 ,global w>m+ pot5tial ,!
 t]m global w>m+ pot5tial means ! ratio 
( ! "t-integrat$ radiative =c+ f !      
in/antane\s release ( "o kilogram ( a   
trace sub/ance relative to t ( "o       
kilogram ( c>bon dioxide4  7n7 ,gre5h\se
 gas ,! t]m gre5h\se gas means c>bon    
dioxide 7,,co#b71 me?ane 7,,*#d71 nitr\s

 oxide 7,n#b,o71 sulfur hexafluoride    
7,,sf#f71 hydr(luoroc>bons 7,h,f,cs71   
p]fluoroc>bon 7,p,f,cs71 & o!r gases z  
def9$ by rule ( ! ,adm9i/rator4  7o7    
,gre5h\se gas cont5t ,! t]m gre5h\se gas
 cont5t means ! am\nt ( gre5h\se gases1 
express$ 9 metric tons ( ,,co#b-;e1 :i* 
w\ld be emitt$ to ! atmosph]e by ! use (
 a cov]$ fuel & %all include1           
nonexclusively1 emissions ( c>bon       
dioxide 7,,co#b71 nitr\s oxide 7,n#b,o71
 me?ane 7,,*#d71 & o!r gre5h\se gases z 
id5tifi$ by rule ( ! ,adm9i/rator4  7p7 
,gre5h\se gas effect ,! t]m gre5h\se gas
 effect means ! adv]se effects (        
gre5h\se gases on heal? or welf>e caus$ 
by ! gre5h\se gas's heat-trapp+ pot5tial
 or its effect on ocean acidification4  
7q7 ,import ,irrespective ( any o!r     
def9ition 9 law or treaty1 ! t]m import 
means to l& on1 br+ into1 or introduce  
into any place subject to ! jurisdiction
 ( ! ,unit$ ,/ates4  7r7 ,petroleum ,!  
t]m petroleum means oil remov$ f ! e>?  
or ! oil d]iv$ f t> s&s or %ale4  7s7   

,production gre5h\se gas emissions ,!   
t]m production gre5h\se gas emissions   
means ! quantity ( gre5h\se gases1      
express$ 9 metric tons ( ,,co#b-;e1     
emitt$ to ! atmosph]e result+ f1        
nonexclusively1 ! production1           
manufacture1 assembly1 transportation1  
or f9anc+ ( a product4  7t7 ,up/ream    
gre5h\se gas emissions ,! t]m up/ream   
gre5h\se gas emissions means ! quantity 
( gre5h\se gases1 express$ 9 metric tons
 ( ,,co#b-;e1 emitt$ to ! atmosph]e     
result+ f1 nonexclusively1 ! extraction1
 process+1 transportation1 f9anc+1 or   
o!r prep>ation ( a cov]$ fuel = use4    
#iijb4 ,c>bon fee  7a7 ,c>bon fee ,!re  
is h]eby impos$ a c>bon fee on any cov]$
 entity's emitt+ use1 or sale or transf]
 = an emitt+ use1 ( any cov]$ fuel4  7b7
 ,am\nt ( ! c>bon fee ,! c>bon fee      
impos$ by ?is section is an am\nt equal 
to-- 7#a7 ! gre5h\se gas cont5t ( !     
cov]$ fuel1 multipli$ by  7#b7 ! c>bon  
fee rate4  7c7 ,c>bon fee rate ,=       
purposes ( ?is section--  7#a7 ,9 g5]al 

,! c>bon fee rate1 ) respect to any use1
 sale1 or transf] dur+ a cal5d> ye>1    
%all be-- 7,a7 9 ! case ( cal5d> ye>    
#bjai1 #ae1 &  7,b7 except z provid$ 9  
p>agraph 7#b71 9 ! case ( any cal5d> ye>
 !reaft]1 ! c>bon fee rate 9 effect "u  
?is subsection = ! prec$+ cal5d> ye>1   
plus #aj4  7#b7 ,exceptions  7,a7       
,increas$ c>bon fee rate aft] miss$     
annual emissions r$uction t>get ,9 !    
case ( any ye> imm$iately foll[+ a ye> =
 :i* ! ,secret>y det]m9es "u #iijc7;b7 t
 ! actual emissions ( gre5h\se gases f  
cov]$ fuels exce$$ ! emissions r$uction 
t>get = ! previ\s ye>1 p>agraph         
7#a77;,b7 %all be appli$ by sub/itut+   
#ae = #aj4  7,b7 ,cessation ( c>bon fee 
rate increase aft] c]ta9 emission       
r$uctions a*iev$ ,9 ! case ( any ye>    
imm$iately foll[+ a ye> = :i* !         
,secret>y det]m9es "u #iijc7;b7 t actual
 emissions ( gre5h\se gases f cov]$     
fuels is n m ?an #aj p]c5t ( ! gre5h\se 
gas emissions f cov]$ fuels dur+ ! ye>  
#bjae1 p>agraph 7#a77;,b7 %all be appli$

 by sub/itut+ #j = #aj4  7d7 ,exemption 
& refund ,! ,secret>y %all prescribe su*
 rules z are necess>y to ensure ! fee   
impos$ by ?is section is n impos$ )     
respect to any nonemitt+ use1 or any    
sale or transf] = a nonemitt+ use1      
includ+ rules provid+ = ! refund ( any  
c>bon fee paid "u ?is section ) respect 
to any su* use1 sale1 or transf]4  7e7  
,agriculture exemptions  7#a7 ,fuel ,if 
any cov]$ fuel or its d]ivative is us$  
on a f>m = a f>m+ purpose1 ! ,secret>y  
%all pay 7)\t int]e/7 to ! ultimate     
pur*as] ( su* cov]$ fuel or its         
d]ivative1 ! total am\nt ( c>bon fees   
previ\sly paid ^u t cov]$ fuel1 z       
specifi$ by rule ( ! ,secret>y4  7#b7   
,f>m1 f>m+ use1 & f>m+ purpose ,! t]ms  
f>m1 f>m+ use1 & f>m+ purpose %all h !  
respective mean+s giv5 su* t]ms "u      
section #fdbj7;c74  7#c7 ,o!r gre5h\se  
gases emissions f agriculture ,! c>bon  
fee %all n be levi$ ^u non-fossil fuel  
gre5h\se gas emissions :i* occur on a   
f>m4  #iijc4 ,emissions r$uction s*$ule 

7a7 ,9 g5]al ,an emissions r$uction     
s*$ule = gre5h\se gas emissions f cov]$ 
fuels is h]eby e/abli%$1 z foll[s3  7#a7
 ,ref]5ce ye> ,! gre5h\se gas emissions 
f cov]$ fuels dur+ ! ye> #bjae %all be !
 ref]5ce am\nt ( emissions & %all be    
det]m9$ f ! ,inv5tory ( ,u4,s4 ,gre5h\se
 ,gas ,emissions & ,s9ks3 #aiij-bjae    
publi%$ by ! ,environm5tal ,protection  
,ag5cy 9 ,april ( #bjag4  7#b7          
,emissions r$uction t>get ,! fir/       
emission r$uction t>get %all be = ! ye> 
#bjbb4 ,! emission t>get = ea* ye>      
!reaft] %all be ! previ\s ye>'s t>get   
emissions m9us a p]c5tage ( emissions   
dur+ ! ref]5ce ye> det]m9$ 9 accordance 
) ! foll[+ table3 ,year,emissions       
,r$uction ,t>get#bjae,ref]5ce ye>#bjah  
to #bjba,no emissions r$uction          
t>get#bjbb to #bjcje p]c5t ( #bjae      
emissions p] ye>#bjcj to #bjdjb4e p]c5t 
( #bjae emissions p] ye>#bjdj to        
#bjeja4e p]c5t ( #bjae emissions p] ye> 
7b7 ,adm9i/rative det]m9ation ,n lat]   
?an #fj days aft] ! beg9n+ ( ea* cal5d> 

ye> beg9n+ aft] ! enactm5t ( ?is        
section1 ! ,secret>y1 9 consultation ) !
 ,adm9i/rator1 %all det]m9e :e!r actual 
emissions ( gre5h\se gases f cov]$ fuels
 exce$$ ! emissions r$uction t>get = !  
prec$+ cal5d> ye>4 ,! ,secret>y %all    
make su* det]m9ation us+ ! same gre5h\se
 gas acc\nt+ me?od z 0 us$ to det]m9e ! 
gre5h\se gas emissions 9 ! ,inv5tory (  
,u4,s4 ,gre5h\se ,gas ,emissions &      
,s9ks3 #aiij-bjae publi%$ by !          
,environm5tal ,protection ,ag5cy 9      
,april ( #bjag4  #iijd4 ,fee on         
fluor9at$ gre5h\se gases  7a7 ,fluor9at$
 gas fee ,a fee is h]eby impos$ ^u any  
fluor9at$ gre5h\se gas :i* is requir$ to
 be report$ "u "p #ih ( title #dj1 ,code
 ( ,f$]al ,regulations4  7b7 ,am\nt ,!  
fee to be paid by ! cov]$ entity requir$
 to s report %all be an am\nt equal to--
 7#a7 ! total am\nt1 9 metric tons (    
,,co#b-;e1 ( emitt$ fluor9at$ gre5h\se  
gases 7or1 9 ! case ( a suppli]1        
emissions t w\ld result det]m9$ "u !    
rules ( su* "p71 multipli$ by  7#b7 an  

am\nt equal to #aj p]c5t ( ! c>bon fee  
rate 9 effect "u section #iijb7;d77#a7 =
 ! cal5d> ye> ( su* emission4  #iije4   
,decommission+ ( c>bon fee  7a7 ,9 g5]al
 ,at su* "t t-- 7#a7 ! ,secret>y        
det]m9es "u #iijc7;b7 t actual emissions
 ( gre5h\se gases f cov]$ fuels is n m  
?an #aj p]c5t ( ! gre5h\se gas emissions
 f cov]$ fuels dur+ ! ye> #bjae1 &  7#b7
 ! mon?ly c>bon divid5d payable to an   
adult eligible individual has be5 less  
?an #bj = #c consecutive ye>s1  !       
,secret>y %all decommission 9 an ord]ly 
mann] all bureaus & programs associat$ )
 adm9i/]+ ! c>bon fee1 ! c>bon bord] fee
 adju/m5t1 & ! ,c>bon ,divid5d ,tru/    
,fund4  7b7 ,inflation adju/m5t ,9 !    
case ( any cal5d> ye> aft] #bjah1 ! #bj 
am\nt "u subsection 7a77#b7 %all be     
increas$ by an am\nt equal to--  7#a7   
su* doll> am\nt1 multipli$ by  7#b7     
co/-(-liv+ adju/m5t det]m9$ "u section  
#a7;f77#c7 = ! cal5d> ye>1 det]m9$ by   
sub/itut+ cal5d> ye> #bjag = cal5d> ye> 
#bjaf 9 subp>agraph 7,a77ii7 !re(4      

#iijf4 ,c>bon capture & seque/ration    
7a7 ,9 g5]al ,! ,secret>y1 9            
consultation ) ! ,adm9i/rator & !       
,secret>y ( ,en]gy1 %all prescribe      
regulations = mak+ paym5ts z provid$ 9  
subsection 7b7 to qualifi$ facilities   
:i* capture & seque/] qualifi$ c>bon    
dioxide4  7b7 ,paym5t am\nts  7#a7 ,9   
g5]al ,! ,secret>y %all make paym5ts to 
a qualifi$ facility 9 ! same mann] z if 
su* paym5t 0 a refund ( an ov]paym5t ( !
 c>bon fee impos$ by section #iijb1 9   
cases 9 :i* su* qualifi$ facility--     
7,a7 uses any cov]$ fuel-- 7i7 ) respect
 to :i* ! c>bon fee has be5 paid1 &     
7ii7 :i* results 9 ! emission ( qualifi$
 c>bon dioxide1  7,b7 captures su*      
emitt$ qualifi$ c>bon dioxide1 &  7,c7  
7i7 seque/]s su* qualifi$ c>bon dioxide 
9 a mann] :i* is safe1 p]man5t1 & 9     
compliance ) any applicable local1      
,/ate1 & ,f$]al laws1 or  7ii7 utilizes 
su* qualifi$ c>bon dioxide 9 a mann]    
provid$ 9 p>agraph 7#c77;,c74  7#b7     
,am\nt ( refund ,! paym5t det]m9$ "u ?is

 section %all be an am\nt equal to !    
less] (--  7,a7  7i7 ! adju/$ metric    
tons ( qualifi$ c>bon dioxide captur$ & 
seque/]$ or utiliz$1 multipli$ by  7ii7 
! c>bon fee rate dur+ ! ye> 9 :i* !     
c>bon fee 0 impos$ by section #iijb ^u !
 cov]$ fuel to :i* su* c>bon dioxide    
relates1 or  7,b7 ! am\nt ( ! c>bon fee 
impos$ by section #iijb ) respect to su*
 cov]$ fuel4  7#c7 ,def9itions & special
 rules ,= purposes ( ?is section--  7,a7
 ,qualifi$ c>bon dioxide2 qualifi$      
facility  7i7 ,qualifi$ c>bon dioxide ,!
 t]m qualifi$ c>bon dioxide has ! same  
mean+ giv5 su* t]m "u section #de,q7b74 
7ii7 ,qualifi$ facility ,! t]m qualifi$ 
facility means any indu/rial facility at
 :i* c>bon capture equipm5t is plac$ 9  
s]vice4  7,b7 ,adju/$ total metric tons 
,! adju/$ total metric tons ( qualifi$  
c>bon dioxide captur$ & seque/]$ or     
utiliz$ %all be ! total tons ( qualifi$ 
c>bon dioxide captur$ & seque/]$ or     
utiliz$1 r$uc$ by ! am\nt ( any c>bon   
dioxide likely to escape & be emitt$    

into ! atmosph]e due to imp]fect /orage 
te*nology or o!rwise1 z det]m9$ by !    
,secret>y 9 consultation ) !            
,adm9i/rator4  7,c7 ,utilization ,!     
,secret>y1 9 consultation ) !           
,adm9i/rator1 %all e/abli% regulations  
provid+ = ! me?ods & processes by :i*   
qualifi$ c>bon dioxide may be utiliz$ s 
z to remove t qualifi$ dioxide safely & 
p]man5tly f ! atmosph]e4 ,utilization   
may include ! production ( sub/ances su*
 z b n limit$ to pla/ics & *emicals4    
,su* regulations %all m9imize ! escape  
or fur!r emission ( ! qualifi$ c>bon    
dioxide into ! atmosph]e4  7,d7         
,seque/ration ,n lat] ?an #edj days aft]
 ! date ( ! enactm5t ( ?is section1 !   
,secret>y1 9 consultation ) !           
,adm9i/rator1 %all prescribe regulations
 id5tify+ ! conditions "u :i* c>bon     
dioxide may be safely & p]man5tly       
seque/]$4  7#d7 ,coord9ation ) cr$it =  
c>bon dioxide seque/ration ,at su* "t t 
! ,secret>y prescribes regulations      
implem5t+ ?is section1 no paym5t "u ?is 

section %all be all[$ to a taxpay] to   
:om a cr$it has be5 all[$ = any taxable 
ye> "u section #de,q4  #iijg4           
,adm9i/rative au?ority  7a7 ,9 g5]al ,! 
,secret>y 9 consultation ) !            
,adm9i/rator %all prescribe su*         
regulations1 & o!r guidance1 z may be   
necess>y to c>ry out ! purposes ( ?is   
subtitle & assess & collect ! c>bon fee 
impos$ by section #iijb & ! fluor9at$   
gre5h\se gas fee impos$ by section      
#iijd4  7b7 ,specifically ,su*          
regulations & guidance %all include--   
7#a7 ! id5tification ( an effective po9t
 9 ! production1 di/ribution1 or use ( a
 cov]$ fuel or fluor9at$ gre5h\se gas = 
collect+ su* c>bon fee or fluor9at$     
gre5h\se gas fee1 9 su* a mann] s z to  
m9imize adm9i/rative burd5 & maximize ! 
ext5t to :i* full fuel cycle gre5h\se   
gas emissions f cov]$ fuels or fluor9at$
 gre5h\se gases h ! c>bon fee or        
fluor9at$ gre5h\se gas fee levi$ ^u !m1 
7#b7 ! id5tification ( cov]$ entities   
:i* %all be liable = ! paym5t ( ! c>bon 

fee or ! fluor9at$ gre5h\se gas fee1    
7#c7 requirem5ts = ! mon?ly paym5t ( su*
 fees1  7#d7 z may be necess>y or       
conv5i5t1 rules = di/+ui%+ betwe5       
diff]5t types ( cov]$ fuels1  7#e7 z may
 be necess>y or conv5i5t1 rules =       
di/+ui%+ betwe5 a cov]$ fuel's gre5h\se 
gas cont5t & its up/ream gre5h\se gas   
emissions1  7#f7 rules to ensure t no   
cov]$ fuel or fluor9at$ gre5h\se gas has
 ! c>bon fee1 fluor9at$ gre5h\se gas    
fee1 or c>bon bord] fee adju/m5t impos$ 
^u x m ?an once1 &  7#g7 rules to ensure
 t ! dome/ic implem5tation ( ! c>bon fee
 & ! fluor9at$ gre5h\se gas fee         
coord9ate ) ! implem5tation ( ! c>bon   
bord] fee adju/m5t ( *apt] #ajb4  #ajb  
,c>bon ,bord] ,fee ,adju/m5t  ,sec4     
#iijh4 ,c>bon bord] fee adju/m5t4 ,sec4 
#iiji4 ,adm9i/ration ( ! c>bon bord] fee
 adju/m5t4 ,sec4 #iiaj4 ,allocation (   
c>bon bord] fee adju/m5t rev5ues4       
#iijh4 ,c>bon bord] fee adju/m5t  7a7 ,9
 g5]al ,! fees impos$ by1 & refunds     
all[$ "u1 ?is section %all be ref]r$ to 

z ! c>bon bord] fee adju/m5t4  7b7      
,purpose ,! purpose ( ! c>bon bord] fee 
adju/m5t is to protect animal1 plant1 & 
human life & heal?1 to cons]ve          
exhau/ible natural res\rces by prev5t+  
c>bon leakage1 & to facilitate !        
creation ( int]national agreem5ts4  7c7 
,import$ cov]$ fuels fee ,9 ! case ( any
 p]son t imports into ! ,unit$ ,/ates   
any cov]$ fuel1 !re %all be impos$ a fee
 equal to ! excess 7if any7 (--  7#a7 an
 am\nt equal to-- 7,a7 ! am\nt ( full   
fuel cycle gre5h\se gas emissions ( su* 
fuel1 multipli$ by  7,b7 ! c>bon fee    
rate 9 effect = ! ye> 9 :i* su* fuel is 
import$1 ov]  7#b7 ! total =eign co/ (  
c>bon c>ri$ by su* fuel4  7d7 ,import$  
c>bon-,int5sive products fee ,9 ! case (
 any p]son t imports into ! ,unit$      
,/ates any c>bon-int5sive products1 !re 
%all be impos$ a fee equal to ! excess  
7if any7 (--  7#a7 an am\nt equal to--  
7,a7 production gre5h\se gas emissions (
 su* product1 multipli$ by  7,b7 ! c>bon
 fee rate 9 effect = ! ye> 9 :i* !      

production gre5h\se gas emissions ( su* 
product 7 emitt$ into ! atmosph]e1 ov]  
7#b7 ! total =eign co/ ( c>bon c>ri$ by 
su* product4  7e7 ,refund on exports f  
,unit$ ,/ates  7#a7 ,c>bon-int5sive     
products ,"u regulations prescrib$ by ! 
,secret>y1 !re %all be all[$ a cr$it or 
refund 7)\t int]e/7 to export]s (       
c>bon-int5sive products manufactur$ or  
produc$ 9 ! ,unit$ ,/ates an am\nt equal
 to ! excess 7if any7 (--  7,a7 an am\nt
 equal to-- 7i7 ! production gre5h\se   
gas emissions ( ! export$ c>bon-int5sive
 product1 multipli$ by  7ii7 ! c>bon fee
 rate dur+ ! ye> 9 :i* ! c>bon fee or   
fluor9at$ gre5h\se gas fee 0 paid ^u !  
production gre5h\se gas emissions ( !   
export$ c>bon-int5sive product1 ov]     
7,b7 any total co/ ( c>bon to be levi$  
^u ! c>bon-int5sive product by any      
jurisdiction to :i* ! c>bon-int5sive    
product is to be import$4  ,any su*     
cr$it or refund %all be all[$ 9 ! same  
mann] z if x 7 an ov]paym5t ( ! fee     
impos$ by section #iijb or #iijd4 ,!    

,secret>y %all e/abli% fair1 timely1    
imp>tial1 & z necess>y confid5tial      
proc$ures by :i* any export] ( any      
product f ! ,unit$ ,/ates may petition !
 ,secret>y to include t export$ product 
on ! li/ ( c>bon-int5sive products4     
7#b7 ,cov]$ fuels ,"u regulations       
prescrib$ by ! ,secret>y1 9 ! case ( a  
cov]$ fuel produc$ 9 ! ,unit$ ,/ates )  
respect to :i* ! fee "u section #iijb 0 
paid1 !re %all be all[$ z a cr$it or    
refund 7)\t int]e/7 to any export] ( su*
 cov]$ fuels an am\nt equal to ! excess 
7if any7 (--  7,a7 an am\nt equal to--  
7i7 ! full fuel cycle gre5h\se gas      
emissions ( ! cov]$ fuel1 multipli$ by  
7ii7 ! c>bon fee rate at ! "t ! c>bon   
fee 0 paid ^u ! full fuel cycle gre5h\se
 gas emissions ( ! export$ cov]$ fuel1  
ov]  7,b7 any total co/ ( c>bon to be   
levi$ ^u ! cov]$ fuel by a jurisdiction 
to :i* ! c>bon-int5sive product is to be
 import$4  ,any su* cr$it or refund %all
 be all[$ 9 ! same mann] z if x 7 an    
ov]paym5t ( tax impos$ by section #iijb4

  7f7 ,def9itions ,= purposes ( ?is     
section-- 7#a7 ,=eign co/ ( c>bon2 =eign
 c>bon co/s ,! t]m =eign co/ ( c>bon or 
=eign c>bon co/ means ! co/ ( any laws (
 a =eign jurisdiction :i* impose a sy/em
 ( cap-&-trade ) respect to1 or a tax or
 fee on1 gre5h\se gas4 ,su* co/ %all be 
det]m9$ & express$ z a price p] ton (   
,,co#b-;e4  7#b7 ,total co/ ( c>bon     
c>ri$ ,! t]m total co/ ( c>bon c>ri$    
means an am\nt equal to-- 7,a7 !        
production gre5h\se gas emissions ( a   
c>bon-int5sive product or ! full fuel   
cycle gre5h\se gas emissions ( a cov]$  
fuel1 multipli$ by  7,b7 ! co/ ( c>bon )
 respect to su* product or fuel1 r$uc$  
by any am\nt refund$ ) respect to su*   
product or fuel by a =eign jurisdiction4
  ,! total co/ ( c>bon c>ri$ %all be    
express$ z price 9 ,unit$ ,/ates doll>s4
  7#c7 ,total =eign co/ ( c>bon c>ri$ ,!
 t]m total =eign co/ ( c>bon c>ri$ means
 an am\nt equal to-- 7,a7 ! production  
gre5h\se gas emissions ( a              
c>bon-int5sive product1 or ! full fuel  

cycle gre5h\se gas emissions ( a cov]$  
fuel1 multipli$ by  7,b7 ! =eign co/ (  
c>bon ) respect to su* product or fuel1 
r$uc$ by ! am\nt refund$ ) respect to   
su* product or fuel by a =eign          
jurisdiction4  ,! total =eign co/ (     
c>bon c>ri$ %all be express$ z price 9  
,unit$ ,/ates doll>s4  #iiji4           
,adm9i/ration ( ! c>bon bord] fee       
adju/m5t  7a7 ,g5]ally ,! ,secret>y 9   
consultation ) ! ,adm9i/rator %all      
prescribe regulations & guidance :i*    
implem5t ! c>bon bord] fee adju/m5t "u  
section #iijh4  7b7 ,collaboration ,9   
det]m9+ ! production gre5h\se gas       
emissions ( an import$ c>bon-int5sive   
product1 ! up/ream gre5h\se gas         
emissions ( an import$ cov]$ fuel1 !    
full fuel cycle gre5h\se gas emissions (
 an import$ cov]$ fuel1 or ! =eign co/ (
 c>bon1 or o!rwise adm9i/]+ ! c>bon     
bord] fee adju/m5t1 x is ! s5se (       
,congress t ! ,secret>y %\ld collaborate
 ) au?oriz$ (fic]s ( any jurisdiction1  
includ+ sub-national gov]nm5ts1 affect$ 

by ! c>bon bord] fee adju/m5t4  7c7     
,me?odology ,9 det]m9+ ! production     
gre5h\se gas emissions ( an import$     
c>bon-int5sive product1 ! up/ream       
gre5h\se gas emissions ( an import$     
cov]$ fuel1 ! full fuel cycle gre5h\se  
gas emissions ( an import$ cov]$ fuel1  
or ! =eign co/ ( c>bon1 ! ,secret>y %all
 use reliable me?odologies1 :i*--  7#a7 
z may be necess>y or conv5i5t-- 7,a7    
di/+ui% betwe5 diff]5t types ( cov]$    
fuels1  7,b7 di/+ui% betwe5 a cov]$     
fuel's gre5h\se gas cont5t & t cov]$    
fuel's up/ream gre5h\se gas emissions1  
7,c7 di/+ui% betwe5 ! diff]5t types (   
gre5h\se gas emissions :i* compose a    
cov]$ fuel's up/ream gre5h\se gas       
emissions or gre5h\se gas cont5t1 z well
 z ! v>i\s processes :i* produc$ ^?     
emissions1 &  7,d7 di/+ui% betwe5 !     
diff]5t types ( gre5h\se gas emissions  
:i* compose a c>bon-int5sive product's  
production gre5h\se gas emissions1 z    
well z ! v>i\s processes :i* produc$ ^? 
emissions1  7#b7 ensure t no cov]$ fuel1

 cov]$ fluor9at$ gre5h\se gas1 or       
c>bon-int5sive product has ! c>bon fee1 
! fluor9at$ gre5h\se gas fee1 or ! bord]
 fee adju/m5t impos$ ^u x m ?an once1   
7#c7 ensure t ! implem5tation ( ! bord] 
c>bon adju/m5t aligns ) ! c>bon fee & ! 
fluor9at$ gas fee1  7#d7 9 ! case (     
incomplete data1 rely ^u ! be/ available
 me?odologies = int]polat+ data gaps1 & 
7#e7 are consi/5t ) int]national        
treaties & agreem5ts4  7d7 ,s*$ule ,!   
,secret>y %all det]m9e--  7#a7 n lat]   
?an #c ye>s aft] ! date ( ! enactm5t (  
?is section1 ! production gre5h\se gas  
emissions ( import$ c>bon-int5sive      
products1  7#b7 n lat] ?an #ahj days    
aft] ! date ( ! enactm5t ( ?is section1 
! full fuel cycle gre5h\se gas emissions
 & ! up/ream gre5h\se gas emissions ( e 
import$ cov]$ fuel1 &  7#c7 n lat] ?an  
#c ye>s aft] ! date ( ! enactm5t ( ?is  
section1 ! =eign co/ ( c>bon 9 all      
jurisdictions4  7e7 ,proc$ure ,!        
,secret>y %all e/abli% fair1 timely1    
imp>tial1 & z necess>y confid5tial      

proc$ures by :i* ! import] ( any        
c>bon-int5sive product or any cov]$ fuel
 may petition ! ,secret>y to revise !   
,secret>y's det]m9ation ( ! production  
gre5h\se gas emissions1 full fuel cycle 
gre5h\se gas emissions1 or up/ream      
gre5h\se gas emissions ( t import]'s    
import$ cov]$ fuel or import$           
c>bon-int5sive product1 or ! =eign co/ (
 c>bon c>ri$ by t import]'s import$     
c>bon-int5sive product4  7f7 ,%ipm5ts f 
! ,unit$ ,/ates to ! t]ritories ( !     
,unit$ ,/ates ,not)/&+ any o!r treaty1  
law1 or policy1 %ipm5ts ( cov]$ fuels or
 c>bon-int5sive products f ! ,unit$     
,/ates to ,guam1 ! ,unit$ ,/ates ,virg9 
,isl&s1 ,samoa1 ,pu]to ,rico1 & !       
,nor!rn ,m>iana ,isl&s %all be eligible 
= a refund ( ! c>bon fee "u section     
#iijh7;e74  7g7 ,imports to ! t]ritories
 ( ! ,unit$ ,/ates ,not)/&+ any o!r     
treaty1 law1 or policy1 imports ( cov]$ 
fuels or c>bon-int5sive products to     
,guam1 ! ,unit$ ,/ates ,virg9 ,isl&s1   
,samoa1 ,pu]to ,rico1 & ! ,nor!rn       

,m>iana ,isl&s %all n be subject to     
,section #iijh7;c7 or #iijh7;d74  #iiaj4
 ,allocation ( c>bon bord] fee adju/m5t 
rev5ues ,! rev5ues collect$ "u ?is *apt]
 may be us$ to supplem5t appropriations 
made available 9 fiscal ye>s #bjah &    
!reaft]--  7#a7 to ,u4,s4 ,cu/oms &     
,bord] ,protection1 9 su* am\nts z are  
necess>y to adm9i/] ! c>bon bord] fee   
adju/m5t1 !n  7#b7 to ! ,dep>tm5t (     
,treasury1 9 su* am\nts z are necess>y  
to all[ refunds "u section #iijh7;e7 to 
export]s ( c>bon-int5sive products &    
export]s ( cov]$ fuels4  4  7b7         
,coord9ation ) c>bon oxide seque/ration 
cr$it ,section #de,q7f7 is am5d$ by add+
 at ! end ! foll[+ new p>agraph3  7#h7  
,coord9ation ) c>bon capture &          
seque/ration paym5ts ,no cr$it %all be  
all[$ "u ?is section to a taxpay] :i*   
has receiv$ any paym5t "u section #iijf4
  4  7c7 ,treaties & int]national       
negotiations  7#a7 ,con=mance )         
int]national treaties ,9 ! case t !     
,appellate ,body ( ! ,_w ,trade         

,organization1 or any o!r au?oritative  
int]national treaty int]pret]1 %all f9d 
any portion ( ! c>bon bord] fee adju/m5t
 "u *apt] #ajb ( ! ,int]nal ,rev5ue     
,code ( #aihf to violate any treaty to  
:i* ! ,unit$ ,/ates is a p>ty1 !        
,secret>y ( ! ,treasury is au?oriz$ to  
alt] any aspect ( su* c>bon bord] fee   
adju/m5t s z to br+ ! c>bon bord] fee   
adju/m5t into con=mance ) int]national  
law4  7#b7 ,int]national negotiations ,!
 ,congress f9ds ! int]national          
mitigation ( gre5h\se gas emissions to  
be ( national importance4 ,!re=e1 !     
,congress enc\rages ! ,secret>y ( ,/ate1
 or ! ,secret>y's designee1 to comm5ce &
 complete negotiations ) o!r nations ) !
 goal ( =m+ treaties1 environm5tal      
agreem5ts1 accords1 p>tn]%ips or any o!r
 in/rum5t t effectively r$uces global   
gre5h\se gas emissions to #aj p]c5t (   
#bjae levels by #bjej & :i* respect !   
pr9ciple ( common b diff]5tiat$         
responsibilities & respective           
capabilities4  7#c7 ,susp5sion ( ! c>bon

 bord] fee adju/m5t ,any "p ( ! c>bon   
bord] fee adju/m5t %all be susp5d$1 9   
:ole or 9 "p-- 7,a7 by treaty or o!r    
int]national agreem5t :i* includes      
provisions = ! susp5sion ( ! c>bon bord]
 fee adju/m5t1 9 :ole or 9 "p1 ) any    
p>ty signatory to ! treaty or o!r       
int]national agreem5t1 or  7,b7 by a    
f9d+ ( ! ,secret>y t a jurisdiction (   
importation has implem5t$ policies :i*1 
9 ! case ( high emitt+ c\ntries1 r$uce  
gre5h\se gas emissions at a rate at lea/
 equival5t to ,unit$ ,/ates gre5h\se gas
 emission r$uctions1 or1 9 ! case ( l[  
emitt+ c\ntries1 prev5t ! increase 9    
gre5h\se gas emissions4  ,any su* f9d+  
%all be review$ at lea/ e #c ye>s &     
am5d$ or revok$ z requir$4  #d4         
,e/abli%m5t ( ! ,c>bon ,divid5d ,tru/   
,fund  7a7 ,9 g5]al ,sub*apt] ,a ( *apt]
 #ih ( ! ,int]nal ,rev5ue ,code ( #aihf 
is am5d$ by add+ at ! end ! foll[+3     
#ieab4 ,c>bon ,divid5d ,tru/ ,fund  7a7 
,e/abli%m5t & fund+ ,!re is h]eby       
e/abli%$ 9 ! ,treasury ( ! ,unit$ ,/ates

 a tru/ fund to be kn[n z ! ,c>bon      
,divid5d ,tru/ ,fund1 consi/+ ( su*     
am\nts z may be appropriat$ to su* tru/ 
fund z provid$ = 9 ?is section4  7b7    
,transf]s to ! ,c>bon ,divid5d ,tru/    
,fund ,!re is h]eby appropriat$ to !    
,c>bon ,divid5d ,tru/ ,fund am\nts equal
 to ! fees receiv$ into ! ,treasury less
 any am\nts refund$ or paid "u section  
#iijb7;d7 or #iijf ( *apt] #aja = ea*   
mon?4  7c7 ,exp5ditures ,am\nts 9 ! tru/
 fund %all be available = ! foll[+      
purposes3 7#a7 ,adm9i/rative exp5ses ,s 
mu* ( ! exp5ses necess>y to adm9i/] !   
,c>bon ,divid5d ,tru/ ,fund = ea* ye>1 z
 does n exce$--  7,a7 9 ! case ( ! fir/ 
#e cal5d> ye>s end+ aft] ! date ( !     
enactm5t ( ?is section1 ! adm9i/rative  
exp5ses = any ye> may n exce$ #h p]c5t (
 am\nts appropriat$ to ! ,c>bon ,divid5d
 ,tru/ ,fund dur+ su* ye>1 &  7,b7 9 !  
case ( any cal5d> ye> !reaft]1 #b p]c5t 
( ! #e-ye> roll+ av]age ( ! am\nts      
appropriat$ to ! ,c>bon ,divid5d ,tru/  
,fund4  7#b7 ,o!r adm9i/rative exp5ses  

,s mu* ( ! exp5ses z are necess>y to    
adm9i/] *apt] #aja = any ye> z does n to
 exce$ #j4fj p]c5t ( ! am\nts           
appropriat$ to ! ,c>bon ,divid5d ,tru/  
,fund = ! previ\s ye>1 & fur!r limit$ z 
foll[s3  7,a7 ,! ,dep>tm5t ( !          
,treasury4  7,b7 ,! ,social ,security   
,adm9i/ration4  7,c7 ,! ,environm5tal   
,protection ,ag5cy4  7,d7 ,dep>tm5t (   
,/ate4  7#c7 ,c>bon divid5d paym5ts     
7,a7 ,9 g5]al ,f ! am\nts 9 ! ,c>bon    
,divid5d ,tru/ ,fund made available "u  
p>agraphs 7#a7 & 7#b7 ( ?is subsection =
 any ye>1 ! ,secret>y %all = ea* mon?   
beg9n+ m ?an #bgj days aft] ! date ( !  
enactm5t ( ! ,en]gy ,innovation & ,c>bon
 ,divid5d ,act ( #bjah1 make c>bon      
divid5d paym5ts to ea* eligible         
individual4  7,b7 ,pro-rata %>e ,a c>bon
 divid5d paym5t is "o pro-rata %>e = ea*
 adult & half a pro-rata %>e = ea* *ild 
"u #ai ye>s old ( am\nts available = !  
mon? 9 ! ,c>bon ,divid5d ,tru/ ,fund4   
7,c7 ,eligible individual ,! t]m        
eligible individual means1 ) respect to 

any mon?1 any natural liv+ p]son :o has 
a valid ,social ,security numb] or      
taxpay] id5tification numb] & is a      
citiz5 or lawful resid5t ( ! ,unit$     
,/ates 7o!r ?an any individual :o is a  
citiz5 ( any possession ( ! ,unit$      
,/ates & ^: bona fide resid5ce is       
outside ( ! ,unit$ ,/ates74 ,! ,secret>y
 is au?oriz$ to v]ify an individual's   
eligibility to receive a c>bon divid5d  
paym5t4  7,d7 ,fee treatm5t ( paym5ts   
,am\nts paid "u ?is subsection %all be  
includible 9 gross income4  7,e7 ,f$]al 
programs & ,f$]al assi/$ programs ,!    
c>bon divid5d am\nt receiv$ by any      
individual %all n be tak5 into acc\nt z 
income & %all n be tak5 into acc\nt z   
res\rces = purposes ( det]m9+ !         
eligibility ( su* individual or any o!r 
individual = b5efits or assi/ance1 or ! 
am\nt or ext5t ( b5efits or assi/ance1  
"u any ,f$]al program or "u any ,/ate or
 local program f9anc$ 9 :ole or 9 "p )  
,f$]al funds4  7,f7 ,advance paym5t ,!  
,secret>y %all transf] to ! ,c>bon      

,divid5d ,tru/ ,fund su* am\nts z are   
necess>y = ! disbursem5t ( an advanc$   
c>bon divid5d to all eligible           
individuals z foll[s3  7i7 ,an advanc$  
c>bon divid5d %all be ! same z !        
anticipat$ fir/ c>bon divid5d requir$ to
 be di/ribut$ "u subp>agraph 7,a7 & %all
 be di/ribut$ ! mon? prior to ! fir/    
collection ( ! c>bon fee4  7ii7 ,total  
am\nts disburs$ z advanc$ c>bon divid5ds
 %all be d$uct$ f ! c>bon divid5ds on a 
pro-rata basis ov] ! fir/ #c ye>s aft] !
 disbursem5t ( ! fir/ c>bon divid5ds4   
7d7 ,adm9i/rative au?ority ,! ,secret>y 
%all promulgate rules1 guidance1 &      
regulations useful & necess>y to        
implem5t ! ,c>bon ,divid5d ,tru/ ,fund4 
4  7b7 ,cl]ical am5dm5t ,! table (      
sections = sub*apt] ,a ( *apt] #ih ( su*
 ,code is am5d$ by add+ at ! end !      
foll[+ new item3  ,sec4 #ieab4 ,c>bon   
,divid5d ,tru/ ,fund4  4  #e4 ,limit$   
disclosure ( in=mation ,section #fajc7l7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by add+ at ! end ! foll[+ new     

p>agraphs3  7#bc7 ,limit$ disclosure (  
id5tity in=mation relat+ to c>bon       
divid5d paym5ts  7,a7 ,dep>tm5t (       
,treasury ,individual id5tity in=mation 
%all1 )\t writt5 reque/1 be op5 to      
inspection by or disclosure to (fic]s & 
employees ( ! ,dep>tm5t ( ! ,treasury ^:
 (ficial duties require su* inspection  
or disclosure = purposes ( adm9i/]+     
section #ieab 7relat+ ! ,c>bon ,divid5d 
,tru/ ,fund74  7,b7 ,commission] (      
,social ,security ,! ,commission] (     
,social ,security %all1 on writt5       
reque/1 disclose to (fic]s & employees (
 ! ,dep>tm5t ( ! ,treasury individual   
id5tity in=mation :i* has be5 disclos$  
to ! ,social ,security ,adm9i/ration z  
is necess>y to adm9i/] section #ieab4   
7,c7 ,re/riction on disclosure          
,in=mation disclos$ "u ?is p>agraph %all
 be disclos$ only = purposes (1 & to !  
ext5t necess>y 91 c>ry+ out section     
#ieab4  4  #f4 ,national ,academy (     
,sci5ces review ( c>bon fee & emissions 
r$uction s*$ule  7a7 ,9 g5]al ,n lat]   

?an #aj ye>s aft] ! date ( ! enactm5t ( 
?is ,act1 ! ,secret>y ( ,en]gy %all ent]
 into an agreem5t ) ! ,national ,academy
 ( ,sci5ces to prep>e a report relat+ to
 ! c>bon fee impos$ by section #iijb ( !
 ,int]nal ,rev5ue ,code ( #aihf & !     
emissions r$uction s*$ule e/abli%$ "u   
section #iijc ( su* ,code4  7b7 ,report 
requirem5ts ,su* report %all-- 7#a7     
assess ! effici5cy & effectiv5ess ( !   
c>bon fee 9 a*iev+ ! emissions r$uction 
t>gets set =? 9 section #iijc ( su*     
,code2  7#b7 describe & make            
recomm5dations on :e!r ! c>bon fee rate 
& annual increases prescrib$ by section 
#iijb7;c7 ( su* ,code %\ld be adju/$ 9  
ord] to optimize ! effici5cy &          
effectiv5ess ( ?is ,act 9 a*iev+ !      
emissions r$uction t>gets set =? 9      
section #iijc ( su* ,code2  7#c7        
describe ! pot5tial ( ! c>bon fee to    
a*ieve future emissions r$uction t>gets 
set =? 9 section #iijc7;a7 ( su* ,code  
?r\gh ! ye> #bjej2  7#d7 describe &     
evaluate ! effectiv5ess ( ! c>bon fee 9 

r$uc+ emissions f key sectors ( !       
economy1 includ+ sectors ( ! economy t h
 decreas$ _! c>bon emissions1 sectors ( 
! economy t h increas$ _! c>bon         
emissions1 & sectors ( ! economy 9 :i*  
c>bon emissions h n *ang$2  7#e7 make   
f9d+s & recomm5dations to ,f$]al        
dep>tm5ts & ag5cies & to ,congress on   
actions t c\ld be tak5 to r$uce c>bon   
emissions 9 ! sectors ( ! economy 9 :i* 
c>bon emissions h n decreas$2  7#f7 make
 f9d+s & recomm5dations on adju/+       
regulations enact$ "u ! ,clean ,air ,act
 7#db ,u4,s4,c4 #gdja et seq47 & o!r    
,f$]al laws t affect economic sectors   
a*iev+ ! emissions r$uction t>gets set  
=? 9 section #iijc ( su* ,code2 &  7#g7 
provide an assessm5t ( any o!r factors  
det]m9$ to be mat]ial to ! effici5cy &  
effectiv5ess ( ! c>bon fee 9 a*iev+ !   
goals set =? 9 ?is ,act4  7c7 ,report   
made publicly available ,n lat] ?an #aj 
ye>s aft] ! date ( ! enactm5t ( ?is     
,act1 ! ,secret>y ( ,en]gy %all submit  
to ,congress ! report requir$ "u        

subsection 7a74 ,su* report %all be made
 electronically available to ! public & 
op5 to public comm5t = at lea/ #fj days 
be=e ! f9al submission to ,congress4    
#g4 ,impact ( c>bon fee on biomass use &
 c>bon s9ks  7a7 ,/udy ( biomass ,!     
,secret>y ( ,en]gy %all ent] into an    
agreem5t ) ! ,national ,academy (       
,sci5ces to conduct a /udy1 make        
recomm5dations1 & submit a report reg>d+
 ! impact ( ! c>bon fee impos$ by       
section #iijb ( ! ,int]nal ,rev5ue ,code
 ( #aihf on ! use ( biomass z an en]gy  
s\rce & ! result+ impacts on c>bon s9ks4
  7b7 ,/udy requirem5ts ,! /udy conduct$
 "u subsection 7a7 by ! ,national       
,academy ( ,sci5ces %all include        
analysis1 docum5tation1 & det]m9ations  
on--  7#a7 ! impact ( ! c>bon fee on--  
7,a7 ! use ( biomass z an en]gy s\rce2 &
  7,b7 gre5h\se gas emissions f ! use ( 
biomass z an en]gy s\rce2  7#b7 !       
impacts ( ! use ( biomass z an en]gy    
s\rce on c>bon s9ks2 &  7#c7 ! v>i\s    
types ( biomass t are be+ us$ z an en]gy

 s\rce4  7c7 ,recomm5dations ,bas$ on ! 
f9d+s & conclusions ( ! /udy1 !         
,national ,academy ( ,sci5ces %all make 
recomm5dations to ,f$]al dep>tm5ts &    
ag5cies & to ,congress4 ,!              
recomm5dations %all include any actions 
t %\ld be tak5 to mitigate impacts ( !  
c>bon fee on--  7#a7 increas+ gre5h\se  
gas emissions f ! use ( biomass z an    
en]gy s\rce2 &  7#b7 degradation ( c>bon
 s9ks relat+ to ! use ( biomass z an    
en]gy s\rce4  7d7 ,report ,! ,national  
,academy ( ,sci5ces %all prep>e a report
 t includes any f9d+s & recomm5dations  
made pursuant to ?is section &1 n lat]  
?an #ah mon?s aft] ! date ( ! enactm5t (
 ?is ,act1 make su* report              
electronically available to ! public4   
#h4 ,environm5tal ,protection ,ag5cy    
review  7a7 ,9 g5]al ,n e>li] ?an ! date
 t is #f ye>s aft] ! date ( enactm5t (  
?is ,act1 ! ,adm9i/rator ( !            
,environm5tal ,protection ,ag5cy 7ref]r$
 to 9 ?is section z ! ,adm9i/rator7 %all
 evaluate ! effectiv5ess ( ! fees impos$

 by sections #iijb1 #iijd1 & #iijh ( !  
,int]nal ,rev5ue ,code ( #aihf at r$uc+ 
emissions 9 accordance ) ! emissions    
r$uction s*$ule set =? 9 section #iijc (
 su* ,code4  7b7 ,review ( regulations  
7#a7 ,9 g5]al ,if ! ,adm9i/rator        
det]m9es t ! fees impos$ by sections    
#iijb1 #iijd1 & #iijh ( ! ,int]nal      
,rev5ue ,code ( #aihf are effectively   
r$uc+ emissions1 su* t ! emissions      
r$uction s*$ule set =? 9 section #iijc (
 su* ,code is met or exce$$1 !          
,adm9i/rator may--  7,a7 review any     
regulations impos$ on ! combu/ion ( any 
cov]$ fuel on :i* a fee is also impos$  
by section #iijb or #iijh ( ! ,int]nal  
,rev5ue ,code ( #aihf2 &  7,b7 review   
any regulations impos$ on any fluor9at$ 
gre5h\se gas on :i* a fee is also impos$
 by section #iijd ( ! ,int]nal ,rev5ue  
,code ( #aihf4  7#b7 ,limitation ,!     
,adm9i/rator %all n review "u ?is       
subsection any regulation impos$-- 7,a7 
on a pollutant t is n a gre5h\se gas2 or
  7,b7 t is impos$ = ! purpose (-- 7i7  

protect+ public heal? & welf>e2  7ii7   
monitor+1 report+1 or recordkeep+2      
7iii7 conduct+ or support+              
inve/igations2 or  7iv7 in=mation       
collection4  #i4 ,effective date ,!     
am5dm5ts made by ?is ,act %all take     
effect on ! date ( ! enactm5t ( ?is     
,act1 except ! c>bon fee "u section     
#iijb ( ! ,int]nal ,rev5ue ,code ( #aihf
 %all apply to uses1 sales1 or transf]s 
m ?an #bgj days aft] ! date ( ! enactm5t
 ( ?is ,act4  #aj4 ,pr9ciple (          
int]pretation ,9 ! case ( ambiguity1 !  
texts ( ?is /atute & its am5d+ texts    
%all be int]pret$ s z to all[ = ! mo/   
effective abatem5t ( gre5h\se gas       
emissions4  #aa4 ,no preemption ( ,/ate 
law ,no?+ 9 ?is legislation %all preempt
 or sup]s$e1 or be int]pret$ to preempt 
or sup]s$e1 any ,/ate law or regulation4