,,ii #aafth ,,congress #ast ,session ,s4 #aabh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,april #aj1 #bjai,mr4 ,whitehouse 7for himself1 ,mr4 ,schatz1 ,mr4 ,heinrich1 and ,mrs4 ,gillibrand7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to provide for carbon dioxide and other greenhouse gas emission fees1 provide tax credits to workers1 deliver additional benefits to retired and disabled ,americans1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,american ,opportunity ,carbon ,fee ,act of #bjai4 ,i ,carbon ,dioxide and ,other ,greenhouse ,gas ,emission ,fees #aja4 ,carbon dioxide and other greenhouse gas emission fees 7a7 ,in general ,chapter #ch of the ,internal ,revenue ,code of #aihf is amended by adding at the end thereof the following new subchapter3 ,e ,carbon ,dioxide and ,other ,greenhouse ,gas ,emission ,fees ,sec4 #dfia4 ,fee for carbon dioxide emissions4,sec4 #dfib4 ,fee on fluorinated greenhouse gases4,sec4 #dfic4 ,fee on facilities that emit greenhouse gases4,sec4 #dfid4 ,associated emissions4,sec4 #dfie4 ,border adjustments for energy-intensive manufactured goods4,sec4 #dfif4 ,definitions and other rules4 #dfia4 ,fee for carbon dioxide emissions 7a7 ,in general 7#a7 ,fossil fuel products producing carbon emissions ,there is hereby imposed a fee in an amount equal to the applicable amount at the rate specified in paragraph 7#b7 on-- 7,a7 coal-- 7i7 removed from any mine in the ,united ,states1 or 7ii7 entered into the ,united ,states for consumption1 use1 or warehousing1 7,b7 petroleum products-- 7i7 removed from any refinery1 7ii7 removed from any terminal1 or 7iii7 entered into the ,united ,states for consumption1 use1 or warehousing1 and 7,c7 natural gas-- 7i7 entered into any processor1 or 7ii7 entered into the ,united ,states for consumption1 use1 or warehousing4 7#b7 ,rate ,the rate specified in this paragraph with respect to any product described in paragraph 7#a7 is an amount equal to the applicable amount per ton of carbon dioxide that would be emitted through the combustion of such product 7as determined by the ,secretary1 in consultation with the ,secretary of ,energy and the ,administrator of the ,environmental ,protection ,agency74 7b7 ,applicable amount 7#a7 ,in general ,for purposes of this part1 the applicable amount is-- 7,a7 for calendar year #bjbj1 #eb1 7,b7 for any calendar year following a year which is not a national emissions target attainment year1 the sum of-- 7i7 the product of the amount in effect under this subparagraph for the preceding calendar year and #ajf percent1 and 7ii7 the inflation adjustment amount determined under paragraph 7#b71 and 7,c7 for any calendar year following a year which is a national emissions target attainment year1 the sum of-- 7i7 the amount in effect under this subparagraph for the preceding calendar year1 and 7ii7 the inflation adjustment amount determined under paragraph 7#b74 7#b7 ,inflation adjustment amount 7,a7 ,in general ,the inflation adjustment amount for any calendar year shall be an amount 7not less than zero7 equal to the product of-- 7i7 the amount determined under paragraph 7#a77;,b77i7 or 7#a77;,c77i71 as applicable1 for such year1 and 7ii7 the percentage by which the ,,cpi for the preceding calendar year exceeds the ,,cpi for the second preceding calendar year4 7,b7 ,,cpi ,rules similar to the rules of paragraphs 7#d7 and 7#e7 of section #a7;f7 shall apply for purposes of this paragraph4 7#c7 ,rounding ,the applicable amount under this subsection shall be rounded up to the next whole dollar amount4 7#d7 ,national emissions target attainment year ,for purposes of paragraph 7#a71 a calendar year is a national emissions target attainment year if the level of greenhouse gas emissions in the ,united ,states for the calendar year does not exceed #bj percent of the level of greenhouse gas emissions in the ,united ,states for calendar year #bjje as determined by the ,secretary in consultation with the ,administrator of the ,environmental ,protection ,agency4 7c7 ,refunds for capturing carbon dioxide and production of certain goods 7#a7 ,carbon dioxide capture1 utilization1 and storage 7,a7 ,in general ,in the case of a person who-- 7i7 uses any coal1 petroleum product1 or natural gas for which a fee has been imposed under subsection 7a77#a7 in a manner which results in the emission of qualified carbon dioxide1 7ii7 captures the resulting emitted qualified carbon dioxide at a qualified facility1 and 7iii7 7,i7 disposes of such qualified carbon dioxide in secure storage1 or 7,,ii7 utilizes such qualified carbon dioxide in a manner provided in subparagraph 7,d71 there shall be allowed a refund1 in the same manner as if it were an overpayment of the fee imposed by such subsection1 to such person in the amount determined under subparagraph 7,b74 7,b7 ,amount of refund ,the amount of the refund under this subparagraph is an amount equal to the product of-- 7i7 the applicable amount under subsection 7b7 for the calendar year in which such qualified carbon dioxide was captured and disposed or utilized1 and 7ii7 the adjusted tons of qualified carbon dioxide captured and disposed or utilized4 7,c7 ,adjusted total tons ,for purposes of subparagraph 7,b71 the adjusted tons of qualified carbon dioxide captured and disposed or utilized shall be the total tons of qualified carbon dioxide captured and disposed or utilized reduced by the amount of any anticipated leakage of carbon dioxide into the atmosphere due to imperfect storage technology or otherwise1 as determined by the ,secretary in consultation with the ,administrator of the ,environmental ,protection ,agency4 7,d7 ,requirements 7i7 ,in general ,any refund under subparagraph 7,a7 shall apply only with respect to qualified carbon dioxide that has been captured and disposed or utilized within the ,united ,states4 7ii7 ,disposal and secure storage 7,i7 ,secure storage ,the ,secretary1 in consultation with the ,administrator of the ,environmental ,protection ,agency and the ,secretary of ,energy1 shall establish regulations similar to the regulations under section #de,q7f77#b7 for determining adequate security measures for the secure storage of qualified carbon dioxide for purposes of subparagraph 7,a77iii77,i7 such that the carbon dioxide does not escape into the atmosphere4 ,such regulations shall ensure the stored carbon dioxide may not be sold1 transferred1 or exported for any purpose that results in the emission of carbon dioxide4 7,,ii7 ,recapture ,the ,secretary shall1 by regulations1 provide for recapturing the benefit of any refund made under subparagraph 7,a7 with respect to any qualified carbon dioxide which is disposed in secure storage and ceases to be stored in a manner consistent with the requirements of this section4 7iii7 ,utilization ,the ,secretary1 in consultation with the ,secretary of ,energy and the ,administrator of the ,environmental ,protection ,agency1 shall establish regulations providing for the appropriate methods and manners for the utilization of qualified carbon dioxide under subparagraph 7,a77iii77,,ii71 including the utilization of captured carbon dioxide for enhanced oil or gas recovery and the production of substances such as plastics1 biofuels1 algae1 and chemicals4 ,such regulations shall provide for the minimization of the escape or further emission of the qualified carbon dioxide into the atmosphere4 7,e7 ,qualified carbon dioxide2 qualified facility ,for purposes of this paragraph-- 7i7 ,qualified carbon dioxide 7,i7 ,in general ,the term qualified carbon dioxide means carbon dioxide captured from an industrial source which-- 7aa7 would otherwise be released into the atmosphere as industrial emission of greenhouse gas1 and 7bb7 is measured at the source of capture and verified at the point of disposal1 injection1 or utilization4 7,,ii7 ,recycled carbon dioxide ,the term qualified carbon dioxide includes the initial deposit of captured carbon dioxide used as a tertiary injectant4 ,such term does not include carbon dioxide that is recaptured1 recycled1 and re-injected as part of the enhanced oil and natural gas recovery process4 7ii7 ,qualified facility ,the term qualified facility means any industrial facility-- 7,i7 which is owned by the taxpayer1 and 7,,ii7 at which carbon capture equipment is placed in service4 7#b7 ,manufacture of certain goods ,in the case of a person who uses any coal1 petroleum product1 or natural gas for which a fee has been imposed under subsection 7a77#a7 as an input for a manufactured good that encapsulates carbon dioxide in a manner such that it does not result in the direct emission of carbon dioxide in the manufacturing or subsequent use of such good1 a refund shall be allowed to such person in the same manner as if it were an overpayment of the fee imposed by such section in an amount that is equal to the product of-- 7,a7 an amount equal to the applicable amount under subsection 7b7 for the calendar year in which such product was used1 and 7,b7 the total tons of carbon dioxide that would have otherwise been emitted through the combustion of such product4 7#c7 ,exports ,in the case of a person who exports any coal1 petroleum product1 or natural gas from the ,united ,states for which a fee has been imposed under subsection 7a77#a71 a refund shall be allowed to such person in the same manner as if it were an overpayment of the fee imposed by such section in an amount that is equal to the fee previously imposed under such subsection with respect to such product 7determined without regard to any increase under section #dfid74 #dfib4 ,fee on fluorinated greenhouse gases 7a7 ,in general ,there is hereby imposed a fee in an amount determined under subsection 7b7 on fluorinated greenhouse gases-- 7#a7 produced at a fluorinated greenhouse gas production facility1 or 7#b7 imported into the ,united ,states by a fluorinated greenhouse gas importer4 7b7 ,amount of fee ,the amount of fee imposed by subsection 7a7 shall be equal to the applicable percentage 7as defined in subsection 7c77#d77 of the applicable amount determined under section #dfia7;b7 per ton of carbon dioxide equivalent produced or imported4 7c7 ,definitions ,for purposes of this section-- 7#a7 ,fluorinated greenhouse gases ,the term fluorinated greenhouse gases means sulfur hexafluoride 7,,sf#f71 nitrogen trifluoride 7,,nf#c71 any hydrofluorocarbon1 any perfluorocarbon1 any fully fluorinated linear1 branched or cyclic alkane1 ether1 tertiary amine or aminoether1 any perfluoropolyether1 any hydrofluoropolyether1 and any other fluorocarbon except for substances with vapor pressures of less than #a mm of ,hg absolute at #be degrees ,celsius4 7#b7 ,fluorinated greenhouse gas production facility ,the term fluorinated greenhouse gas production facility means any facility which is included under the industrial gas supplier source category under subpart ,,oo of part #ih of title #dj1 ,code of ,federal ,regulations1 as in effect on the date of the enactment of the ,american ,opportunity ,carbon ,fee ,act of #bjai4 7#c7 ,fluorinated greenhouse gas importer ,the term fluorinated greenhouse gas importer means any importer who is included under-- 7,a7 the industrial gas supplier source category under subpart ,,oo of part #ih of title #dj1 ,code of ,regulations1 as in effect on the date of the enactment of the ,american ,opportunity ,carbon ,fee ,act of #bjai1 or 7,b7 the source category under subpart ,,qq of such part 7as so in effect74 7#d7 ,applicable percentage ,the term applicable percentage means the percentage determined in accordance with the following table3 ,in the case of any taxable year beginning in calendar year3,the applicable percentage is3#bjbj1 #bjba1 or #bjbbaj percent#bjbcbj percent#bjbdcj percent#bjbedj percent#bjbfej percent#bjbgfj percent#bjbhgj percent#bjbihj percent#bjcjij percent#bjca or thereafter#ajj percent4 7d7 ,exemption for exports ,for purposes of determining fluorinated greenhouse gases produced or imported under subsection 7a71 there shall not be taken into account any fluorinated greenhouse gases exported from the ,united ,states in bulk or exported from the ,united ,states in equipment pre-charged with fluorinated greenhouse gases or containing fluorinated greenhouse gases in closed cell foams4 7e7 ,refund for consumptive uses and destruction ,in the case of a person who uses any fluorinated greenhouse gas for which a fee has been imposed under paragraph 7#a7 or 7#b7 of subsection 7a7 as an input for a manufactured good that transforms the fluorinated greenhouse gas such that it cannot later be emitted or otherwise destroys the gas 7without emissions71 a refund shall be allowed to such person in the same manner as if it were an overpayment of the fee imposed by such subsection in an amount that is equal to the product of-- 7#a7 an amount equal to the applicable percentage 7as defined in subsection 7c77#d77 of the applicable amount under section #dfia7;b71 for the calendar year in which such fluorinated greenhouse gas was used or destroyed1 and 7#b7 the excess 7if any7 of-- 7,a7 the total carbon dioxide equivalent of the fluorinated greenhouse gases used or destroyed1 over 7,b7 the total carbon dioxide equivalent of any fluorinated greenhouse gases created as the result of the transformation or destruction process4 #dfic4 ,fee on facilities that emit greenhouse gases 7a7 ,in general ,there is hereby imposed a fee in an amount equal to the applicable percentage of the applicable amount determined under section #dfia7;b7 per ton of carbon dioxide equivalent emitted 7including associated emissions7 from any facility which-- 7#a7 7,a7 is included under-- 7i7 the aluminum production source category under subpart ,f of part #ih of title #dj1 ,code of ,regulations1 as in effect on the date of the enactment of the ,american ,opportunity ,carbon ,fee ,act of #bjai1 7ii7 the ,,hcfc-#bb production and ,,hfc-#bc destruction source category under subpart ,o of such part 7as so in effect71 or 7iii7 the fluorinated gas production source category under subpart ,l of such part 7as so in effect71 or 7,b7 which is not described in subparagraph 7,a7 and is required to report emissions 7or which would be required to report emissions notwithstanding any other provision of law prohibiting the implementation of or use of funds for such requirements71 or to which emissions are attributed1 under part #ih of title #dj1 ,code of ,federal ,regulations1 as in effect on the date of the enactment of the ,american ,opportunity ,carbon ,fee ,act of #bjai1 and 7#b7 emitted during the previous calendar year greenhouse gases at a rate equal to the carbon dioxide equivalent of not less than #be1jjj tons by reason of the combustion or processing of any product other than coal1 petroleum products1 and natural gas4 7b7 ,applicable percentage ,for purposes of this section1 the term applicable percentage means-- 7#a7 in the case of a facility described in subsection 7a77#a77;,a71 the percentage determined in accordance with section #dfib7;c77#e71 or 7#b7 in the case of a facility described in subsection 7a77#a77;,b71 #ajj percent4 #dfid4 ,associated emissions 7a7 ,reporting program 7#a7 ,in general ,not later than ,january #a1 #bjbb1 the ,secretary1 in consultation with the ,administrator of the ,environmental ,protection ,agency1 the ,secretary of the ,interior1 the ,administrator of the ,energy ,information ,administration1 and the ,administrator of the ,pipeline and ,hazardous ,materials ,safety ,administration1 shall establish and implement a program to identify all major source categories of associated emissions and collect data on associated emissions from the coal1 petroleum products1 and natural gas supply chains4 7#b7 ,annual report ,not later than #ab months after the date that the ,secretary implements the program described in paragraph 7#a71 and annually thereafter1 the ,secretary shall issue a report1 to be made available to the public and the appropriate committees of ,congress1 on associated emissions1 including-- 7,a7 identification of all major source categories of associated emissions1 and 7,b7 the total amount1 expressed in tons of carbon dioxide equivalent1 of-- 7i7 methane and other greenhouse gases emitted across the coal supply chain within the ,united ,states during the preceding calendar year1 7ii7 methane and other greenhouse gases emitted across the petroleum products supply chain within the ,united ,states during the preceding calendar year1 and 7iii7 methane and other greenhouse gases emitted across the natural gas supply chain within the ,united ,states during the preceding calendar year4 7b7 ,supplementary fee for associated emissions 7#a7 ,coal ,in the case of any calendar year beginning after #bjbb1 the fee imposed under section #dfia7;a77#a7 with respect to coal shall be increased by the amount determined by the ,secretary 7in consultation with the ,administrator of the ,environmental ,protection ,agency7 necessary to ensure that the total fees collected under such section with respect to coal are equal to the total amount of such fees that would be collected on coal if the fee imposed under section #dfia7;a77#a7 also applied to the carbon-dioxide equivalent of greenhouse gas emissions reported under subsection 7a77#b77;,b77i74 7#b7 ,petroleum products ,in the case of any calendar year beginning after #bjbb1 the fee imposed under section #dfia7;a77#a7 with respect to petroleum products shall be increased by the amount determined by the ,secretary 7in consultation with the ,administrator of the ,environmental ,protection ,agency7 necessary to ensure that the total fees collected under such section with respect to petroleum products are equal to the total amount of such fees that would be collected on petroleum products if the fee imposed under section #dfia7;a77#a7 also applied to the carbon-dioxide equivalent of greenhouse gas emissions reported under subsection 7a77#b77;,b77ii74 7#c7 ,natural gas ,in the case of any calendar year beginning after #bjbb1 the fee imposed under section #dfia7;a77#a7 with respect to natural gas shall be increased by the amount determined by the ,secretary 7in consultation with the ,administrator of the ,environmental ,protection ,agency7 necessary to ensure that the total fees collected under such section with respect to natural gas are equal to the total amount of such fees that would be collected on natural gas if the fee imposed under section #dfia7;a77#a7 also applied to the carbon-dioxide equivalent of greenhouse gas emissions reported under subsection 7a77#b77;,b77iii74 #dfie4 ,border adjustments for energy-intensive manufactured goods 7a7 ,purpose ,the purpose of this section is to ensure the environmental effectiveness of this subchapter4 7b7 ,exports 7#a7 ,in general ,in the case of any energy-intensive manufactured good which is exported from the ,united ,states1 the ,secretary shall pay to the person exporting such good a refund equal to the amount of the cost of such good attributable to any fees imposed under this subchapter related to the manufacturing of such energy-intensive manufactured good 7as determined under regulations established by the ,secretary74 7#b7 ,reduction in refund ,the amount of the refund under paragraph 7#a7 shall be reduced by the amount1 if any1 of fees imposed on such goods or comparable domestically produced energy-intensive manufactured goods by the foreign nation or governmental unit to which such good is exported4 7c7 ,imports 7#a7 ,imposition of equivalency fee ,in the case of any energy-intensive manufactured good imported into the ,united ,states1 there is imposed an equivalency fee on the person importing such good in an amount equal to the cost of such good which would be attributable to any fees imposed under this subchapter related to the manufacturing of such good if any inputs or processes used in manufacturing such good were subject to such fees 7as determined under regulations established by the ,secretary74 7#b7 ,reduction in fee ,the amount of the equivalency fee under paragraph 7#a7 shall be reduced by the amount1 if any1 of any fees imposed on such energy-intensive manufactured goods by the foreign nation or governmental units from which such good was imported4 7d7 ,treatment of alternative policies as fees ,under regulations established by the ,secretary1 foreign policies that have substantially the same effect in reducing emissions of greenhouse gases as fees shall be treated as fees for purposes of subsections 7b77#b7 and 7c77#b74 7e7 ,regulatory authority 7#a7 ,in general ,the ,secretary shall consult with the ,administrator of the ,environmental ,protection ,agency and the ,secretary of ,energy in establishing rules and regulations implementing the purposes of this section4 7#b7 ,treaties ,the ,secretary1 in consultation with the ,secretary of ,state1 may adjust the applicable amounts of the refunds and equivalency fees under this section in a manner that is consistent with any obligations of the ,united ,states under an international agreement4 #dfif4 ,definitions and other rules 7a7 ,definitions ,for purposes of this subchapter3 7#a7 ,associated emissions ,the term associated emissions means greenhouse gas emissions attributable to venting1 flaring1 and leakage across the supply chain4 7#b7 ,carbon dioxide equivalent ,the term carbon dioxide equivalent means1 with respect to a greenhouse gas1 the quantity of such gas that has a global warming potential equivalent to #a metric ton of carbon dioxide1 as determined pursuant to table ,a-#a of subpart ,a of part #ih of title #dj1 ,code of ,federal ,regulations1 as in effect on the date of the enactment of the ,american ,opportunity ,carbon ,fee ,act of #bjai4 7#c7 ,coal ,the term coal has the same meaning given such term under section #dh;,a7c77#d74 7#d7 ,energy-intensive manufactured good 7,a7 ,in general ,the term energy-intensive manufactured good means any manufactured good 7other than any petroleum product or fossil fuel7 for which not less than #e percent of the cost of which is attributable to energy costs1 as determined by the ,secretary4 7,b7 ,list of energy-intensive manufactured goods 7i7 ,initial list ,not later than #ahj days after the date of the enactment of this ,act1 the ,secretary shall publish a list of goods which qualify as energy-intensive manufactured goods4 7ii7 ,updates ,not less frequently than annually1 the ,secretary shall update the list published under this subparagraph4 7#e7 ,greenhouse gas ,the term greenhouse gas has the meaning given such term under section #baa7o77#a77;,g7 of the ,clean ,air ,act1 as in effect on the date of the enactment of the ,american ,opportunity ,carbon ,fee ,act of #bjai4 7#f7 ,natural gas ,the term natural gas has the same meaning given such term under section #fac;,a7e77#b74 7#g7 ,petroleum product ,the term petroleum product has the same meaning given such product under section #dfab7;a77#c74 7#h7 ,supply chain ,the term supply chain means extraction and processing of coal and natural gas1 extraction and refining of petroleum products1 and the transmission1 transport1 storage1 distribution1 import1 export1 and other activities related to supplying coal1 petroleum products1 and natural gas to a consumer1 not otherwise covered elsewhere in this subchapter as determined by the ,administrator of the ,environmental ,protection ,agency4 7#i7 ,ton 7,a7 ,in general ,the term ton means #a1jjj kilograms4 ,in the case of any greenhouse gas which is a gas1 the term ton means the amount of such gas in cubic meters which is the equivalent of #a1jjj kilograms on a molecular weight basis4 7,b7 ,fractional part of ton ,in the case of a fraction of a ton1 any fee imposed by this subchapter on such fraction shall be the same fraction of the amount of such fee imposed on a whole ton4 7#aj7 ,united ,states ,the term ,united ,states has the meaning given such term by section #dfab7;a77#d74 7b7 ,other rules 7#a7 ,assessment and collection ,payment of the fee imposed by sections #dfia1 #dfib1 and #dfic shall be assessed and collected in the same manner as taxes under this subtitle4 7#b7 ,regulations ,the ,secretary shall prescribe such regulations as may be necessary to carry out the provisions of this subchapter4 4 7b7 ,clerical amendment ,the table of subchapters for chapter #ch of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new item3 ,subchapter ,e--,carbon ,dioxide and ,other ,greenhouse ,gas ,emission ,fees 4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 ,,ii ,returning fee revenue to the ,american people #bja4 ,establishment of refundable credit for workers 7a7 ,in general ,subpart ,c of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after section #cf the following new section3 #cf;,a4 ,carbon fee offset credit 7a7 ,in general ,in the case of an eligible individual1 there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year an amount equal to the lesser of-- 7#a7 #f4b percent of the earned income of the taxpayer1 or 7#b7 #ijj 7twice such amount in the case of a joint return74 7b7 ,eligible individual ,for purposes of this section1 the term eligible individual means any individual other than-- 7#a7 any nonresident alien individual1 7#b7 any individual with respect to whom a deduction under section #aea is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual's taxable year begins1 and 7#c7 any individual who1 for the month of ,december of the taxable year1 was entitled to or eligible for a benefit payment described in paragraph 7#a7 or 7#b7 of section #bjb7;b7 of the ,american ,opportunity ,carbon ,fee ,act of #bjai4 7c7 ,earned income 7#a7 ,in general ,for purposes of this section1 the term earned income has the meaning given such term by section #cb7;c77#b71 except that such term shall not include net earnings from self-employment which are not taken into account in computing taxable income4 7#b7 ,certain combat zone compensation ,for purposes of paragraph 7#a71 any amount excluded from gross income by reason of section #aab shall be treated as earned income which is taken into account in computing taxable income for the taxable year4 7d7 ,inflation adjustment 7#a7 ,in general ,in the case of a taxable year beginning after #bjbj1 the #ijj amount in subsection 7a77#b7 shall be increased by an amount equal to-- 7,a7 such dollar amount1 multiplied by 7,b7 the percentage 7if any7 by which-- 7i7 the ,,cpi for the preceding calendar year1 exceeds 7ii7 the ,,cpi for calendar year #bjai4 7#b7 ,,cpi ,rules similar to the rules of paragraphs 7#d7 and 7#e7 of section #a7;f7 shall apply for purposes of this subsection4 7#c7 ,rounding ,if any dollar amount1 after being increased under paragraph 7#a71 is not a multiple of #aj1 such dollar amount shall be rounded to the next lowest multiple of #aj4 4 7b7 ,refunds disregarded in the administration of ,federal programs and federally assisted programs ,any credit or refund allowed or made to any individual by reason of section #cf;,a of the ,internal ,revenue ,code of #aihf 7as added by this section7 shall not be taken into account as income and shall not be taken into account as resources for purposes of determining the eligibility of such individual or any other individual for benefits or assistance1 or the amount or extent of benefits or assistance1 under any ,federal program or under any ,state or local program financed in whole or in part with ,federal funds4 7c7 ,conforming amendments 7#a7 ,section #fbaa7;b77#d77;,a7 of the ,internal ,revenue ,code of #aihf is amended by inserting #cf;,a1 after #cf14 7#b7 ,the table of sections for subpart ,c of part ,,iv of subchapter ,a of chapter #a of such ,code is amended by inserting after the item relating to section #cf the following new item3 ,sec4 #cf;,a4 ,carbon fee offset credit4 4 7d7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #bjb4 ,establishment of payments to ,social ,security beneficiaries and other retired and disabled ,americans 7a7 ,authority ,to make payments ,the ,secretary of the ,treasury or the ,secretary of the ,treasury's delegate 7referred to in this section as the ,secretary7 shall1 during the period between ,april #a and ,may #ae of calendar year #bjbj and each year thereafter1 disburse a payment to each eligible beneficiary in an amount equal to the amount in effect for taxable years beginning in the preceding calendar year under section #cf;,a7a77#b7 of the ,internal ,revenue ,code of #aihf4 7b7 ,eligible beneficiary ,for purposes of this section1 the term eligible beneficiary means an individual who1 for the month of ,december of the preceding year1 was-- 7#a7 entitled to any benefit payment described in subparagraph 7,b7 of section #bbja7;a77#a7 of the ,american ,recovery and ,reinvestment ,act of #bjji2 or 7#b7 eligible for a benefit payment described in subparagraph 7,c7 of such section4 7c7 ,residency requirement ,a payment may be made under this section only to an eligible beneficiary who resides in any ,state 7as defined in section #bjd7;f771 as determined based on the current address of record for such beneficiary under the applicable program for payment of benefits described in subsection 7b74 7d7 ,no double payments ,an eligible beneficiary may not receive more than #a payment per calendar year under this section1 regardless of whether such beneficiary is entitled to or eligible for more than #a benefit payment described in paragraph 7#a7 or 7#b7 of subsection 7b74 7e7 ,identification of recipients ,the ,commissioner of ,social ,security1 the ,railroad ,retirement ,board1 and the ,secretary of ,veterans ,affairs shall certify the eligible beneficiaries entitled to receive payments under this section and provide the ,secretary with any information necessary to disburse such payments4 7f7 ,application of additional rules ,rules similar to the rules of subsections 7a77#d71 7c71 and 7d7 of section #bbja of the ,american ,recovery and ,reinvestment ,act of #bjji shall apply for purposes of payments under this section4 #bjc4 ,state-based cost mitigation grant program 7a7 ,in general ,the ,secretary of the ,treasury shall provide to each ,state which meets the requirements of subsection 7d7 a cost mitigation grant for each calendar year after #bjai in an amount determined under subsection 7c74 7b7 ,use of funds ,a ,state receiving a cost mitigation grant under this section may use the grant to assist with the transition to a low-carbon economy1 including-- 7#a7 to assist low-income households in reducing energy expenses and meeting cost increases attributable to the fees imposed under subchapter ,e of chapter #ch of the ,internal ,revenue ,code of #aihf 7as added by this ,act72 7#b7 to assist rural households in reducing energy expenses and meeting such increases attributable to such fees2 7#c7 to provide job training and worker transition assistance1 with priority given to workers and former workers in fossil-fuel related industries2 or 7#d7 to assist the ,state in dealing with climate change or the transition to a low-carbon economy4 7c7 ,amount of grant 7#a7 ,in general ,the amount of the cost mitigation grant made to any ,state for any calendar year shall be equal to the product of-- 7,a7 the annual grant limitation determined under paragraph 7#c7 for such calendar year2 and 7,b7 the ,state allocation percentage for the ,state 7determined under paragraph 7#b774 7#b7 ,state allocation percentage ,the ,state allocation percentage for a ,state is the amount 7expressed as a percentage7 equal to the quotient of-- 7,a7 the population of such ,state 7as reported in the most recent decennial census72 and 7,b7 the population of all ,states 7as reported in the most recent decennial census74 7#c7 ,annual appropriation for grants 7,a7 ,in general ,the annual grant limitation is #aj1jjj1jjj1jjj4 7,b7 ,inflation adjustment 7i7 ,in general ,in the case of any calendar year after #bjbj1 the #aj1jjj1jjj1jjj amount in subparagraph 7,a7 shall be increased by an amount equal to-- 7,i7 such dollar amount2 multiplied by 7,,ii7 the percentage 7if any7 by which-- 7aa7 the ,,cpi for the preceding calendar year2 exceeds 7bb7 the ,,cpi for calendar year #bjai4 7ii7 ,,cpi ,rules similar to the rules of paragraphs 7#d7 and 7#e7 of section #a7;f7 of the ,internal ,revenue ,code of #aihf shall apply for purposes of this subparagraph4 7#d7 ,redistribution ,in any case in which one or more ,states do not meet the requirements described in subsection 7d7 for a calendar year1 an amount equal to the ,state allocation percentage for such ,state or ,states shall be distributed to each ,state which did meet such conditions in an amount equal to the product of-- 7,a7 such amount2 and 7,b7 the ,state allocation percentage of such ,state 7determined by not taking into account under paragraph 7#b77;,b7 the population of any ,state which did not meet the requirements of subsection 7d7 for such calendar year74 7d7 ,requirements for receipt of grant 7#a7 ,in general ,a ,state is eligible to receive a cost mitigation grant for any calendar year if-- 7,a7 the chief executive officer of the ,state certifies that the ,state will use a portion of such grant as needed to deliver benefits to eligible low-income individuals through a household rebate program2 7,b7 the ,state has filed with the ,secretary of the ,treasury a ,state plan covering the calendar year which details the use of the funds received under the grant2 7,c7 the ,state agrees to comply with any audit requirements under subsection 7d72 and 7,d7 the ,state has complied with the requirements of this section for all preceding years or the ,state has remedied all prior noncompliance to the satisfaction of the ,secretary of the ,treasury4 7#b7 ,household rebate program ,for purposes of paragraph 7#a77;,a7-- 7,a7 ,in general ,the term household rebate program means a program for delivering to monthly benefits in an aggregate annual amount equal to the applicable amount to all eligible low-income individuals through a ,state-administered electronic benefit transfer system4 7,b7 ,applicable amount ,the term applicable amount means1 with respect to any eligible low-income individual for any calendar year1 an amount equal to the excess of-- 7i7 the amount in effect for taxable years ending with or within the preceding calendar year under section #cf;,a7a77#b7 of the ,internal ,revenue ,code of #aihf2 over 7ii7 any amount allowed or claimed as a credit by such individual under such section for the taxable year ending with or within the preceding calendar year4 7,c7 ,eligible low-income individual ,the term eligible low-income individual means1 with respect to any calendar year1 any individual who-- 7i7 has attained the age of #ah before the end of the calendar year2 7ii7 lives in a household that has a gross income that does not exceed #aej percent of the poverty line as defined by section #fgc7b7 of the ,community ,services ,block ,grant ,act2 7iii7 participates in a federally funded ,state administered assistance program or otherwise applies for such benefits under such a program2 and 7iv7 for the month of ,december of the preceding calendar year1 was not entitled to or eligible for a benefit payment described in section #bjb7;b74 7,d7 ,coordination rules ,the ,secretary of the ,treasury shall coordinate with the ,states and other applicable ,federal agencies to identify eligible low-income individuals4 7e7 ,audits ,the ,secretary of the ,treasury shall audit the ,state use of grants under this section to ensure such uses comply with the requirements of this section and with the uses identified by the ,state under subsection 7d77#a77;,b74 ,the ,secretary may withhold a grant under this section if the ,secretary determines that a ,state has not complied with such requirements4 7f7 ,state ,for purposes of this section1 the term ,state includes the ,district of ,columbia1 the ,commonwealth of ,puerto ,rico1 ,guam1 ,american ,samoa1 the ,commonwealth of the ,northern ,mariana ,islands1 and the ,united ,states ,virgin ,islands4 7g7 ,appropriations ,for any fiscal year1 there is hereby appropriated an amount equal to the annual grant limitation determined under subsection 7c77#c7 for the calendar year in which such fiscal year begins4 ,,iii ,other ,provisions #cja4 ,public disclosure of revenues and expenditures 7a7 ,establishment of website ,the ,secretary of the ,treasury1 or the ,secretary's designee1 shall establish a website for purposes of making the disclosures described in subsection 7b74 7b7 ,disclosures ,the ,secretary shall make publicly available1 on an ongoing basis and as frequently as possible1 the following information3 7#a7 ,the amount and sources of revenue attributable to this ,act and the amendments made by this ,act4 7#b7 ,the amount of tax savings and benefits received as a result of title ,,ii of this ,act4 #cjb4 ,severability ,if any provision of this ,act or amendment made by this ,act1 or the application of a provision or amendment to any person or circumstance1 is held to be unconstitutional1 the remainder of this ,act and amendments made by this ,act1 and the application of the provisions and amendment to any person or circumstance1 shall not be affected by the holding4