,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #ddhd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,augu/ #f1 #bjbj,mr4   
,durb9 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to e/abli% a c>bon
 fee to r$uce gre5h\se gas emissions1 & 
= o!r purposes4  #a4 ,%ort title ,?is   
,act may be cit$ z ! ,am]ica's ,clean   
,future ,fund ,act4  #b4 ,climate ,*ange
 ,f9ance ,corporation  7a7 ,e/abli%m5t  
7#a7 ,9 g5]al ,!re is e/abli%$ 9 !      
executive bran* an indep5d5t ag5cy1 to  
be kn[n z ! ,climate ,*ange ,f9ance     
,corporation 7ref]r$ to 9 ?is section z 
! ,c#b;,,fc71 :i* %all f9ance clean     
en]gy & climate *ange resili5cy         
activities 9 accordance ) subsection    
7c74  7#b7 ,mission  7,a7 ,9 g5]al ,!   
mission ( ! ,c#b;,,fc is to combat &    
r$uce ! effects ( climate *ange by      
build+ resili5ce among communities fac+ 
h>mful impacts ( climate *ange &        
support+ a dramatic r$uction 9 gre5h\se 

gas emissions-- 7i7 ?r\gh ! deploym5t ( 
clean & r5ewable te*nology1 resili5t    
infra/ructure1 rese>* & developm5t1 !   
comm]cialization ( new te*nology1 clean 
en]gy manufactur+1 & indu/rial          
dec>bonization2 &  7ii7 to meet ! goals 
(-- 7,i7 by #bjcj1 a net r$uction (     
gre5h\se gas emissions by #de p]c5t1    
bas$ on #bjah levels2 &  7,,ii7 by      
#bjej1 a net r$uction ( gre5h\se gas    
emissions by #ajj p]c5t1 bas$ on #bjah  
levels4  7,b7 ,activities ,! ,c#b;,,fc  
%all c>ry out ! mission describ$ 9      
subp>agraph 7,a7 by-- 7i7 f9anc+        
inve/m5ts 9 clean en]gy &               
transportation1 resili5cy1 &            
infra/ructure2  7ii7 us+ ,f$]al inve/m5t
 to enc\rage ! infusion ( private       
capital & inve/m5t into ! clean en]gy & 
resili5t infra/ructure sectors1 :ile    
creat+ new work=ce opportunities2 &     
7iii7 provid+ f9anc+ 9 cases :]e private
 capital _c be lev]ag$1 :ile m9imiz+    
competition ) private inve/m5t4  7#c7   
,ex]cise ( p[]s ,except z o!rwise       

provid$ expressly by law1 all ,f$]al    
laws deal+ ) public or ,f$]al contracts1
 prop]ty1 works1 (fic]s1 employees1     
budgets1 or funds1 includ+ ! provisions 
( *apt]s #e & #g ( title #e1 ,unit$     
,/ates ,code1 %all apply to ! ex]cise ( 
! p[]s ( ! ,c#b;,,fc4  7b7 ,bo>d (      
,directors  7#a7 ,9 g5]al ,! managem5t (
 ! ,c#b;,,fc %all be ve/$ 9 a ,bo>d (   
,directors 7ref]r$ to 9 ?is section z ! 
,bo>d7 consi/+ ( #g memb]s1 :o %all be  
appo9t$ by ! ,presid5t1 by & ) ! advice 
& cons5t ( ! ,s5ate4  7#b7 ,*airp]son & 
vice *airp]son  7,a7 ,9 g5]al ,a        
,*airp]son & ,vice ,*airp]son ( ! ,bo>d 
%all be appo9t$ by ! ,presid5t1 by & ) !
 advice & cons5t ( ! ,s5ate1 f among !  
individuals appo9t$ to ! ,bo>d "u       
p>agraph 7#a74  7,b7 ,t]m ,an           
individual-- 7i7 %all s]ve z ,*airp]son 
or ,vice ,*airp]son ( ! ,bo>d = a #c-ye>
 t]m2 &  7ii7 may be r5om9at$ = !       
position until ! t]m ( t individual on !
 ,bo>d "u p>agraph 7#c77;,c7 expires4   
7#c7 ,bo>d memb]s  7,a7 ,citiz5%ip      

requir$ ,ea* memb] ( ! ,bo>d %all be an 
individual :o is a citiz5 ( ! ,unit$    
,/ates4  7,b7 ,repres5tation ,! memb]s (
 ! ,bo>d %all fairly repres5t           
agricultural1 educational1 rese>*1      
indu/rial1 nongov]nm5tal1 labor1 &      
comm]cial int]e/s ?r\gh\t ! ,unit$      
,/ates4  7,c7 ,t]m  7i7 ,9 g5]al ,except
 z o!rwise provid$ 9 ?is section1 ea*   
memb] ( ! ,bo>d-- 7,i7 %all be appo9t$ =
 a t]m ( #f ye>s2 &  7,,ii7 may be      
reappo9t$ = #a additional t]m4  7ii7    
,initial /agg]$ t]ms ,( ! memb]s fir/   
appo9t$ to ! ,bo>d-- 7,i7 #b %all ea* be
 appo9t$ = a t]m ( #b ye>s2  7,,ii7 #c  
%all ea* be appo9t$ = a t]m ( #d ye>s2 &
  7,,iii7 #b %all ea* be appo9t$ = a t]m
 ( #f ye>s4  7#d7 ,initial meet+ ,n lat]
 ?an #cj days aft] ! date on :i* all    
memb]s ( ! ,bo>d are appo9t$ "u p>agraph
 7#a71 ! ,bo>d %all hold an initial     
meet+4  7c7 ,inve/m5t tools  7#a7       
,def9itions ,9 ?is subsection3 7,a7     
,eligible borr[] ,! t]m eligible borr[] 
means any p]son1 includ+ a bus9ess own] 

or project develop]1 t seeks a loan to  
c>ry out approv$ practices or projects  
describ$ 9 subp>agraph 7,a77i7 (        
p>agraph 7#b7 f an eligible l5d] t may  
receive a loan gu>antee "u t p>agraph = 
t loan1 accord+ to crit]ia det]m9$ by ! 
,c#b;,,fc4  7,b7 ,eligible entity ,! t]m
 eligible entity means-- 7i7 a ,/ate2   
7ii7 a unit ( local gov]nm5t2 &  7iii7 a
 rese>* & developm5t in/itution 7includ+
 a ,national ,laboratory74  7,c7        
,eligible l5d] ,! t]m eligible l5d]     
means-- 7i7 a ,f$]al- or ,/ate-*>t]$    
bank2  7ii7 a ,f$]al- or ,/ate-*>t]$    
cr$it union2  7iii7 an agricultural     
cr$it corporation2  7iv7 a ,unit$ ,/ates
 ,gre5 ,bank ,in/itution2 &  7v7 any o!r
 l5d] t ! ,bo>d det]m9es has a          
demon/rat$ ability to und]write & s]vice
 loans = ! int5d$ approv$ practice = :i*
 ! loan w be us$4  7#b7 ,grants1 loan   
gu>antees1 & o!r inve/m5t tools  7,a7 ,9
 g5]al ,! ,c#b;,,fc-- 7i7 %all provide  
grants to eligible entities & loan      
gu>antees to eligible l5d]s issu+ loans 

to eligible borr[]s = approv$ practices 
& projects relat+ to climate *ange      
mitigation & resili5ce measures1        
includ+-- 7,i7 en]gy effici5cy upgrades 
to infra/ructure2  7,,ii7 electric1     
hydrog51 & clean transportation programs
 & deploym5t1 includ+ programs-- 7aa7 to
 pur*ase p]sonal vehicles1 comm]cial    
vehicles1 & public transportation fleets
 & s*ool bus fleets2  7bb7 to deploy    
electric vehicle *>g+ & hydrog5         
infra/ructure2 &  7cc7 to develop &     
deploy l[ c>bon su/a9able aviation      
fuels2  7,,iii7 clean en]gy & vehicle   
manufactur+ rese>*1 demon/rations1 &    
deploym5t2  7,,iv7 batt]y /orage rese>*1
 demon/rations1 & deploym5t2  7,v7      
developm5t or pur*ase ( equipm5t =      
practices describ$ 9 section #f2  7,,vi7
 developm5t & deploym5t ( clean en]gy & 
clean te*nologies1 ) a focus on-- 7aa7  
c>bon capture1 utilization1 &           
seque/ration1 bio5]gy ) c>bon capture & 
seque/ration1 direct air capture1 &     
infra/ructure associat$ ) ^? processes1 

includ+ con/ruction ( c>ri] pipel9es = !
 transportation ( an?ropog5ic c>bon     
dioxide2  7bb7 en]gy /orage & grid      
mod]nization2  7cc7 geo!rmal en]gy2     
7dd7 comm]cial & resid5tial sol>2  7ee7 
w9d en]gy2 &  7ff7 any o!r clean        
te*nology use or developm5t1 z det]m9$  
by ! ,bo>d2  7,,vii7 measures t         
anticipate & prep>e = climate *ange     
impacts1 & r$uce risks & enhance        
resili5ce to sea level rise1 extreme    
wea!r ev5ts1 & o!r climate *ange        
impacts1 includ+ by-- 7aa7 build+       
resili5t en]gy1 wat]1 & transportation  
infra/ructure2  7bb7 provid+            
wea!rization assi/ance = l[-income      
h\seholds2 &  7cc7 increas+ ! resili5ce 
( ! agriculture sector2 &  7,,viii7     
natural infra/ructure rese>*1           
demon/rations1 & deploym5t2 &  7ii7 may 
implem5t o!r inve/m5t tools & products  
approv$ by ! ,bo>d1 pursuant to         
subp>agraph 7,d71 to a*ieve ! mission ( 
! ,c#b;,,fc describ$ 9 subsection       
7a77#b74  7,b7 ,project prioritization  

7i7 ,def9ition ( environm5tal ju/ice    
community ,! t]m environm5tal ju/ice    
community means a community )           
significant repres5tation ( communities 
( color1 l[-income communities1 or      
,tribal & indig5\s communities t        
exp]i5ces1 or is at risk ( exp]i5c+1    
high] or m adv]se human heal? or        
environm5tal effects4  7ii7             
,prioritization ,9 provid+ f9ancial &   
o!r assi/ance "u subp>agraph 7,a71 !    
,c#b;,,fc %all give priority to1 z      
det]m9$ by ! ,c#b;,,fc-- 7,i7           
de9du/rializ$ communities or communities
 ) significant local economic reliance  
on c>bon-int5sive indu/ries2  7,,ii7    
environm5tal ju/ice communities1        
communities ) populations ( color1      
communities ( color1 indig5\s           
communities1 & l[-income communities t--
 7aa7 exp]i5ce a disproportionate burd5 
( ! negative human heal? & environm5tal 
impacts ( pollution or o!r environm5tal 
haz>ds2 or  7bb7 may n h access to      
public in=mation & opportunities =      

mean+ful public p>ticipation relat+ to  
human heal? & environm5tal plann+1      
regulations1 & en=cem5t2  7,,iii7       
communities at risk ( impacts ( natural 
disa/]s or sea level rise exac]bat$ by  
climate *ange2  7,,iv7 public or        
nonpr(it entities t s]ve dislocat$      
work]s1 vet]ans1 or individuals ) a     
b>ri] to employm5t2 &  7,v7 communities 
t h m9imal or no inve/m5t 9 ! approv$   
practices & projects describ$ 9         
subp>agraph 7,a77i74  7,c7 ,loan        
gu>antees  7i7 ,9 g5]al ,9 provid+ loan 
gu>antees "u subp>agraph 7,a71 !        
,c#b;,,fc %all coop]ate ) eligible l5d]s
 ?r\gh agreem5ts to p>ticipate on a     
def]r$ 7gu>ante$7 basis4  7ii7 ,level ( 
p>ticipation 9 gu>ante$ loans ,9 provid+
 a loan gu>antee "u subp>agraph 7,a71 ! 
,c#b;,,fc %all gu>antee #ge p]c5t ( !   
balance ( ! f9anc+ out/&+ at ! "t (     
disbursem5t ( ! loan4  7iii7 ,int]e/    
rates ,not)/&+ ! provisions ( !         
con/itution ( any ,/ate or ! laws ( any 
,/ate limit+ ! rate or am\nt ( int]e/ t 

may be *>g$1 tak51 receiv$1 or res]v$1 !
 maximum legal rate ( int]e/ on any     
f9anc+ made on a def]r$ basis "u ?is    
subsection %all n exce$ a rate prescrib$
 by ! ,c#b;,,fc4  7iv7 ,gu>antee fees   
7,i7 ,9 g5]al ,) respect to ea* loan    
gu>ante$ "u ?is subsection 7o!r ?an a   
loan t is repayable 9 #a ye> or less71 !
 ,c#b;,,fc %all collect a gu>antee fee1 
:i* %all be payable by ! eligible l5d]1 
& may be *>g$ to ! eligible borr[] 9    
accordance ) subclause 7,,ii74  7,,ii7  
,borr[] *>ges ,a gu>antee fee describ$ 9
 subclause 7,i7 *>g$ to an eligible     
borr[] %all n-- 7aa7 exce$ #b p]c5t ( ! 
def]r$ p>ticipation %>e ( a total loan  
am\nt t is equal to or less ?an         
#aej1jjj2  7bb7 exce$ #c p]c5t ( !      
def]r$ p>ticipation %>e ( a total loan  
am\nt t is great] ?an #aej1jjj b less   
?an #gjj1jjj2 or  7cc7 exce$ #c4e p]c5t 
( ! def]r$ p>ticipation %>e ( a total   
loan am\nt t is equal to or great] ?an  
#gjj1jjj4  7,d7 ,o!r inve/m5t tools &   
products  7i7 ,9 g5]al ,! ,bo>d may1    

bas$ on m>ket ne$s1 develop & implem5t  
any o!r inve/m5t tool or product        
necess>y to a*ieve ! mission ( !        
,c#b;,,fc describ$ 9 subsection 7a77#b7 
& ! deploym5t ( projects describ$ 9     
subp>agraph 7,a77i71 includ+ (f]+-- 7,i7
 w>eh\s+ & aggregation cr$it facilities2
  7,,ii7 z]o int]e/ loans2  7,,iii7     
cr$it enhancem5ts2 &  7,,iv7 con/ruction
 f9ance4  7ii7 ,/ate & local gre5 banks 
,! ,bo>d %all provide funds to ,unit$   
,/ates ,gre5 ,bank ,in/itutions z       
necess>y to f9ance projects t are be/   
s]v$ by ^? entities4  7#c7 ,wage rate   
requirem5ts ,all labor]s & me*anics     
employ$ by eligible entities & eligible 
borr[]s on projects fund$ directly by or
 assi/$ 9 :ole or 9 "p by ! activities (
 ! ,c#b;,,fc "u ?is section %all be paid
 at wages at rates n less ?an ^?        
prevail+ on projects ( a simil> "* 9 !  
locality z det]m9$ by ! ,secret>y (     
,labor 9 accordance ) sub*apt] ,,iv (   
*apt] #ca ( title #dj1 ,unit$ ,/ates    
,code 7commonly kn[n z ! ,davis-,bacon  

,act74  7#d7 ,buy ,am]ica requirem5ts   
7,a7 ,9 g5]al ,all iron1 /eel1 &        
manufactur$ goods us$ = projects "u ?is 
section %all be produc$ 9 ! ,unit$      
,/ates4  7,b7 ,waiv] ,! ,bo>d may waive 
! requirem5t 9 subp>agraph 7,a7 if !    
,bo>d f9ds t-- 7i7 en=c+ ! requirem5t   
w\ld be inconsi/5t ) ! public int]e/2   
7ii7 ! iron1 /eel1 & manufactur$ goods  
produc$ 9 ! ,unit$ ,/ates are n produc$ 
9 a suffici5t & reasonably available    
am\nt or are n ( a satisfactory quality2
 or  7iii7 en=c+ ! requirem5t w increase
 ! ov]all co/ ( ! project by m ?an #be  
p]c5t4  7d7 ,program review & report ,n 
lat] ?an #b ye>s aft] ! date ( enactm5t 
( ?is ,act1 & e #b ye>s !reaft]1 ! ,bo>d
 %all-- 7#a7 conduct a review ( !       
activities ( ! ,c#b;,,fc2 &  7#b7 submit
 to ,congress a report t-- 7,a7         
describes ! projects & fund+            
opportunities t h be5 mo/ successful 9  
progress+ t[>ds ! mission describ$ 9    
subsection 7a77#b7 dur+ ! "t p]iod cov]$
 by ! report2 &  7,b7 includes          

recomm5dations on ! clean en]gy &       
resili5cy projects t %\ld be prioritiz$ 
9 =?com+ ye>s to a*ieve t mission4  7e7 
,initial capitalization  7#a7 ,9 g5]al  
,!re is appropriat$ to c>ry out ?is     
section1 out ( any funds 9 ! ,treasury n
 o!rwise appropriat$1 #g1ejj1jjj1jjj =  
ea* ( fiscal ye>s #bjba & #bjbb1 to     
rema9 available until exp5d$4  7#b7     
,additional capitalization ,if1 pursuant
 to section #dfib7;g7 ( ! ,int]nal      
,rev5ue ,code ( #aihf 7z add$ by section
 #c71 ! c>bon fee has be5 r$uc$ to z]o =
 cal5d> ye> #bjbb1 !re is appropriat$ to
 c>ry out ?is section1 out ( any funds 9
 ! ,treasury n o!rwise appropriat$1     
#g1ejj1jjj1jjj = fiscal ye> #bjbc1 to   
rema9 available until exp5d$4  #c4      
,c>bon fee ,*apt] #ch ( subtitle ,d ( ! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new sub*apt]3 
,e ,c>bon fee  ,sec4 #dfia4 ,def9itions4
 ,sec4 #dfib4 ,c>bon fee4 ,sec4 #dfic4  
,fee on noncov]$ fuel emissions4 ,sec4  
#dfid4 ,refunds = c>bon capture1        

seque/ration1 & utilization4 ,sec4      
#dfie4 ,bord] adju/m5ts4  #dfia4        
,def9itions ,= purposes ( ?is sub*apt]--
 7#a7 ,adm9i/rator ,! t]m ,adm9i/rator  
means ! ,adm9i/rator ( ! ,environm5tal  
,protection ,ag5cy4  7#b7 ,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 
ov] a #ajj-ye> p]iod z "o metric ton (  
ano!r gre5h\se gas4  7#c7               
,c>bon-,int5sive product ,! t]m         
c>bon-int5sive product means-- 7,a7     
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]amics1 &  7,b7 
any manufactur$ product :i* ! ,secret>y1
 9 consultation ) ! ,adm9i/rator1 !     
,secret>y ( ,comm]ce1 & ! ,secret>y (   
,en]gy1 det]m9es is en]gy-int5sive &    
trade-expos$ 7) ! exception ( any cov]$ 
fuel74  7#d7 ,cov]$ entity ,! t]m cov]$ 

entity means-- 7,a7 9 ! case ( crude    
oil-- 7i7 any op]ator ( a ,unit$ ,/ates 
ref9]y 7z describ$ 9 subsection 7d77#a7 
( section #dfaa71 &  7ii7 any p]son     
ent]+ su* product into ! ,unit$ ,/ates =
 consumption1 use1 or w>eh\s+ 7z        
describ$ 9 subsection 7d77#b7 ( su*     
section71  7,b7 9 ! case ( coal-- 7i7   
any produc] subject to ! tax "u section 
#daba1 &  7ii7 any import] ( coal into !
 ,unit$ ,/ates1  7,c7 9 ! case ( natural
 gas-- 7i7 any entity :i* produces      
natural gas 7z def9$ 9 section          
#fac;,a7e77#b77 f a well locat$ 9 !     
,unit$ ,/ates1 &  7ii7 any import] (    
natural gas into ! ,unit$ ,/ates1  7,d7 
9 ! case ( any noncov]$ fuel emissions1 
! entity :i* is ! s\rce ( su* emissions1
 provid$ t ! total am\nt ( c>bon dioxide
 or me?ane emitt$ by su* entity = !     
prec$+ ye> 7z det]m9$ us+ ! me?odology  
requir$ "u section #dfib7;e77#d77 0 n   
less ?an #be1jjj metric tons1 &  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 into !   
atmosph]e & :i* has n be5 cov]$ by !    
c>bon fee1 ! fee on noncov]$ fuel       
emissions1 or ! c>bon bord] fee         
adju/m5t4  7#e7 ,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  7#f7 ,gre5h\se gas ,! t]m   
gre5h\se gas-- 7,a7 has ! mean+ giv5 su*
 t]m 9 section #ija ( ! ,en]gy          
,indep5d5ce & ,security ,act ( #bjjg    
7#db ,u4,s4,c4 #agcba71 &  7,b7 includes
 any o!r gases id5tifi$ by rule ( !     
,adm9i/rator4  7#g7 ,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]$
 fuel4  7#h7 ,noncov]$ fuel emission ,! 
t]m noncov]$ fuel emission means any    
c>bon dioxide or me?ane emitt$ z a      
result ( ! production1 process+1        

transport1 or use ( any product or      
mat]ial )9 ! en]gy or indu/rial         
sectors-- 7,a7 includ+ any fugitive or  
process emissions associat$ ) !         
production1 process+1 or transport ( a  
cov]$ fuel1 &  7,b7 exclud+ any         
emissions f ! combu/ion or use ( a cov]$
 fuel4  7#i7 ,qualifi$ c>bon oxide ,!   
t]m qualifi$ c>bon oxide has ! mean+    
giv5 ! t]m 9 section #de,q7c74  7#aj7   
,unit$ ,/ates ,! t]m ,unit$ ,/ates %all 
be treat$ z includ+ ea* possession ( !  
,unit$ ,/ates 7includ+ ! ,commonweal? ( 
,pu]to ,rico & ! ,commonweal? ( !       
,nor!rn ,m>iana ,isl&s74  #dfib4 ,c>bon 
fee  7a7 ,def9itions ,9 ?is section3    
7#a7 ,applicable p]iod ,subject to      
subsection 7g71 ! t]m applicable p]iod  
means1 ) respect to any det]m9ation made
 by ! ,secret>y "u subsection 7e77#c7 = 
any cal5d> ye>1 ! p]iod-- 7,a7 beg9n+ on
 ,janu>y #a1 #bjbb1 &  7,b7 end+ on     
,decemb] #ca ( ! prec$+ cal5d> ye>4     
7#b7 ,cumulative emissions ,! t]m       
cumulative emissions means an am\nt     

equal to ! sum ( any gre5h\se gas       
emissions result+ f ! use ( cov]$ fuels 
& any noncov]$ fuel emissions = all ye>s
 dur+ ! applicable p]iod4  7#c7         
,cumulative emissions t>get ,! t]m      
cumulative emissions t>get means an     
am\nt equal to ! sum ( ! emissions      
t>gets = all ye>s dur+ ! applicable     
p]iod4  7#d7 ,emissions t>get ,! t]m    
emissions t>get means ! t>get = gre5h\se
 gas emissions dur+ a cal5d> ye> z      
det]m9$ "u subsection 7e77#a74  7b7     
,c>bon fee ,subject to subsection 7g71  
dur+ any cal5d> ye> t beg9s aft]        
,decemb] #ca1 #bjba1 !re is impos$ a    
c>bon fee on any cov]$ entity's use1    
sale1 or transf] ( any cov]$ fuel4  7c7 
,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    
rate1 z det]m9$ "u subsection 7d74  7d7 
,c>bon fee rate ,! c>bon fee rate %all  
be det]m9$ 9 accordance ) ! foll[+3 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> #bjbb1 #be1 &  7,b7 except z 
provid$ 9 p>agraphs 7#b7 & 7#c71 9 !    
case ( any cal5d> ye> aft] #bjbb1 !     
am\nt equal to ! sum (-- 7i7 ! am\nt "u 
subp>agraph 7,a71 plus  7ii7 7,i7 9 !   
case ( cal5d> ye> #bjbc1 #aj1 &  7,,ii7 
9 ! case ( any cal5d> ye> aft] #bjbc1 ! 
am\nt 9 effect "u ?is clause = ! prec$+ 
cal5d> ye>1 plus #aj4  7#b7 ,inflation  
adju/m5t  7,a7 ,9 g5]al ,9 ! case ( any 
cal5d> ye> aft] #bjbb1 ! am\nt det]m9$  
"u p>agraph 7#a77;,b7 %all be increas$  
by an am\nt equal to-- 7i7 t doll>      
am\nt1 multipli$ by  7ii7 ! co/-(-liv+  
adju/m5t det]m9$ "u section #a7;f77#c7 =
 t cal5d> ye>1 det]m9$ by sub/itut+     
#bjba = #bjaf 9 subp>agraph 7,a77ii7    
!re(4  7,b7 ,r\nd+ ,if any increase     
det]m9$ subp>agraph 7,a7 is n a multiple
 ( #a1 su* increase %all be r\nd$ up to 
! next :ole doll> am\nt4  7#c7 ,adju/m5t
 ( c>bon fee rate  7,a7 ,increase 9 rate
 foll[+ miss$ cumulative emissions t>get

 ,9 ! case ( any cal5d> ye> foll[+ a    
det]m9ation by ! ,secret>y pursuant to  
subsection 7e77#c7 t ! cumulative       
emissions = ! prec$+ cal5d> ye> exce$$ !
 cumulative emissions t>get = su* ye>1  
p>agraph 7#a77;,b77ii77,,ii7 %all be    
appli$-- 7i7 9 ! case ( cal5d> ye>s     
#bjbe ?r\gh #bjcj1 by sub/itut+ #ae =   
#aj1  7ii7 9 ! case ( cal5d> ye>s #bjca 
?r\gh #bjdj1 by sub/itut+ #bj = #aj1 &  
7iii7 9 ! case ( any cal5d> ye> beg9n+  
aft] #bjdj1 by sub/itut+ #be = #aj4     
7,b7 ,cessation ( rate increase foll[+  
a*ievem5t ( cumulative emissions t>get  
,9 ! case ( any ye> foll[+ a det]m9ation
 by ! ,secret>y pursuant to subsection  
7e77#c7 t-- 7i7 ! av]age annual         
emissions ( gre5h\se gases f cov]$      
entities ov] ! prec$+ #c-ye> p]iod are n
 m ?an #aj p]c5t ( ! gre5h\se gas       
emissions dur+ ! ye> #bjah1 &  7ii7 !   
cumulative emissions did n exce$ !      
cumulative emissions t>get1  p>agraph   
7#a77;,b77ii77,,ii7 %all be appli$ by   
sub/itut+ #j = #aj4  7,c7 ,me?odology ,)

 respect to any ye>1 ! annual gre5h\se  
gas emissions & cumulative emissions    
describ$ 9 subp>agraph 7,a7 or 7,b7 %all
 be det]m9$ us+ ! me?odology requir$ "u 
subsection 7e77#d74  7e7 ,emissions     
t>gets  7#a7 ,9 g5]al  7,a7 ,ref]5ce ye>
 ,= purposes ( subsection 7d71 !        
emissions t>get = any ye> %all be !     
am\nt ( gre5h\se gas emissions t is     
equal to-- 7i7 = cal5d> ye>s #bjbb &    
#bjbc1 ! applicable p]c5tage ( ! total  
am\nt ( gre5h\se gas emissions f ! use (
 any cov]$ fuel dur+ cal5d> ye> #bjah1 &
  7ii7 = cal5d> ye> #bjbd & ea* cal5d>  
ye> !reaft]1 ! applicable p]c5tage ( !  
total am\nt ( gre5h\se gas emissions f !
 use ( any cov]$ fuel & noncov]$ fuel   
emissions dur+ cal5d> ye> #bjah4  7,b7  
,me?odology ,= purposes ( subp>agraph   
7,a71 ) respect to det]m9+ ! total am\nt
 ( gre5h\se gas emissions f ! use ( any 
cov]$ fuel & noncov]$ fuel emissions    
dur+ cal5d> ye> #bjah1 ! ,adm9i/rator   
%all use su* me?ods z are det]m9$       
appropriate1 provid$ t su* me?ods are1  

to ! greate/ ext5t practicable1         
comp>able to ! me?ods e/abli%$ "u       
p>agraph 7#d74  7#b7 ,applicable        
p]c5tage  7,a7 #bjbb ?r\gh #bjce ,9 !   
case ( cal5d> ye>s #bjbb ?r\gh #bjce1 ! 
applicable p]c5tage %all be det]m9$ z   
foll[s3 ,year,applicable p]c5tage#bjbbhe
 p]c5t#bjbcgi p]c5t#bjbdgd p]c5t#bjbefi 
p]c5t#bjbfff p]c5t#bjbgfb p]c5t#bjbhei  
p]c5t#bjbief p]c5t#bjcjec p]c5t#bjcaej  
p]c5t#bjcbdg p]c5t#bjccdd p]c5t#bjcddb  
p]c5t#bjcedj p]c5t  7,b7 #bjcf ?r\gh    
#bjej ,9 ! case ( cal5d> ye>s #bjcf     
?r\gh #bjej1 ! applicable p]c5tage %all 
be equal to-- 7i7 ! applicable p]c5tage 
= ! prec$+ ye>1 m9us  7ii7 #b p]c5tage  
po9ts4  7,c7 ,aft] #bjej ,9 ! case ( any
 cal5d> ye> beg9n+ aft] #bjej1 !        
applicable p]c5tage %all be equal to #aj
 p]c5t4  7#c7 ,emissions report+ &      
det]m9ations  7,a7 ,report+ ,n lat] ?an 
,septemb] #cj1 #bjbc1 & annually        
!reaft]1 ! ,adm9i/rator1 9 consultation 
) ! ,secret>y1 %all make available to ! 
public a report on-- 7i7 ! cumulative   

emissions ) respect to ! prec$+ cal5d>  
ye>1 &  7ii7 any o!r relevant in=mation1
 z det]m9$ appropriate by !             
,adm9i/rator4  7,b7 ,det]m9ations ,n    
lat] ?an ,septemb] #cj1 #bjbd1 &        
annually !reaft]1 ! ,adm9i/rator1 9     
consultation ) ! ,secret>y & z "p ( !   
report describ$ 9 subp>agraph 7,a71 %all
 det]m9e :e!r cumulative emissions )    
respect to ! prec$+ cal5d> ye> exce$$ ! 
cumulative emissions t>get ) respect to 
su* ye>4  7#d7 ,emissions acc\nt+       
me?odology  7,a7 ,9 g5]al ,n lat] ?an   
,janu>y #a1 #bjbb1 ! ,adm9i/rator %all  
prescribe rules = gre5h\se gas acc\nt+ =
 cov]$ entities = purposes ( ?is        
sub*apt]1 :i* %all-- 7i7 to ! greate/   
ext5t practicable1 employ exi/+ data    
collection me?odologies & gre5h\se gas  
acc\nt+ practices1  7ii7 ensure t !     
me?od ( acc\nt+-- 7,i7 applies to-- 7aa7
 all gre5h\se gas emissions f cov]$     
fuels & all noncov]$ fuel emissions1 &  
7bb7 all cov]$ entities1  7,,ii7        
excludes-- 7aa7 any gre5h\se gas        

emissions :i* are n describ$ item 7aa7 (
 subclause 7,i71 &  7bb7 any entities   
:i* are n describ$ 9 item 7bb7 ( su*    
subclause1 &  7,,iii7 appropriately     
acc\nts =-- 7aa7 qualifi$ c>bon oxide   
:i* is captur$ & dispos$ or us$ 9 a     
mann] describ$ 9 section #dfid1 &  7bb7 
nonemitt+ uses ( cov]$ fuels1 z describ$
 9 subsection 7f71  7iii7 subject to su*
 p5alties z are det]m9$ appropriate by !
 ,adm9i/rator1 require any cov]$ entity 
to report1 n lat] ?an ,april #a ( ea*   
cal5d> ye>-- 7,i7 ! total gre5h\se gas  
cont5t ( any cov]$ fuels us$1 sold1 or  
transf]r$ by su* cov]$ entity dur+ !    
prec$+ cal5d> ye>1 &  7,,ii7 ! total    
noncov]$ fuel emissions ( ! cov]$ entity
 dur+ ! prec$+ cal5d> ye>1 &  7iv7      
require any in=mation report$ pursuant  
to clause 7iii7 to be v]ifi$ by a       
?ird-p>ty entity t1 subject to su*      
process z is det]m9$ appropriate by !   
,adm9i/rator1 has be5 c]tifi$ by !      
,adm9i/rator ) respect to !             
qualifications1 indep5d5ce1 &           

reliability ( su* entity4  7,b7         
,gre5h\se ,gas ,report+ ,program ,=     
purposes ( e/abli%+ ! rules describ$ 9  
subp>agraph 7,a71 ! ,adm9i/rator may    
elect to modify ! activities ( !        
,gre5h\se ,gas ,report+ ,program to     
satisfy ! requirem5ts describ$ 9 clauses
 7i7 ?r\gh 7iv7 ( su* subp>agraph4  7#e7
 ,revisions ,) respect to any           
det]m9ation made by ! ,adm9i/rator z to 
! am\nt ( gre5h\se gas emissions = any  
cal5d> ye> 7includ+ cal5d> ye> #bjah71  
any subsequ5t revision by ! ,adm9i/rator
 ) respect to su* am\nt %all apply =    
purposes ( ! fee impos$ "u subsection   
7b7 = any cal5d> ye>s beg9n+ aft] su*   
revision4  7f7 ,exemption & refund ,!   
,secret>y %all prescribe su* rules z are
 necess>y to ensure ! c>bon 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  7g7 ,delay$     

application ( c>bon fee = #bjbb  7#a7   
,fir/ qu>t] ( #bjbb ,n lat] ?an ,novemb]
 #a1 #bjba1 ! ,secret>y %all det]m9e    
:e!r ! requirem5t describ$ 9 p>agraph   
7#c7 has be5 satisfi$1 & if su*         
requirem5t has n be5 satisfi$1 ! c>bon  
fee impos$ by ?is section %all be r$uc$ 
to z]o = ! fir/ cal5d> qu>t] ( #bjbb4   
7#b7 ,rema9+ qu>t]s ( #bjbb ,if1        
pursuant to p>agraph 7#a71 ! c>bon fee  
impos$ by ?is section has be5 r$uc$ to  
z]o = ! fir/ cal5d> qu>t] ( #bjbb1 !    
,secret>y %all1 n lat] ?an ,febru>y #a1 
#bjbb1 det]m9e :e!r ! requirem5t        
describ$ 9 p>agraph 7#c7 has be5        
satisfi$1 & if su* requirem5t has n be5 
satisfi$-- 7,a7 ! c>bon fee impos$ by   
?is section %all be r$uc$ to z]o = !    
second1 ?ird1 & f\r? cal5d> qu>t]s (    
#bjbb1 &  7,b7 subsection 7a77#a77;,a7  
%all be appli$ by sub/itut+ ,janu>y #a1 
#bjbc = ,janu>y #a1 #bjbb4  7#c7        
,unemploym5t rate requirem5t ,!         
requirem5t describ$ 9 ?is p>agraph is t 
! unemploym5t rate = ea* c5sus division1

 z det]m9$ by ! ,secret>y1 9 coord9ation
 ) ! ,bureau ( ,labor ,/ati/ics ( !     
,dep>tm5t ( ,labor1 bas$ ^u ! mo/       
rec5tly complet$ cal5d> qu>t] = :i* su* 
in=mation is available1 is less ?an #e  
p]c5t4  7h7 ,adm9i/rative au?ority ,!   
,secret>y1 9 consultation ) !           
,adm9i/rator1 %all prescribe su*        
regulations1 & o!r guidance1 to assess &
 collect ! c>bon fee impos$ by ?is      
section1 includ+-- 7#a7 ! id5tification 
( cov]$ entities t are liable = paym5t (
 a fee "u ?is section or section #dfic1 
7#b7 z may be necess>y or conv5i5t1     
rules = di/+ui%+ betwe5 diff]5t types ( 
cov]$ entities1  7#c7 z may be necess>y 
or conv5i5t1 rules = di/+ui%+ betwe5 !  
gre5h\se gas emissions ( a cov]$ entity 
& ! gre5h\se gas emissions t are        
attribut$ to ! cov]$ entity b n directly
 emitt$ by ! cov]$ entity1  7#d7        
requirem5ts = ! qu>t]ly paym5t ( su*    
fees1 &  7#e7 rules to ensure t ! c>bon 
fee "u ?is section1 ! fee on noncov]$   
fuel emissions "u section #dfic1 or !   

c>bon bord] fee adju/m5t is n impos$ on 
an emission f cov]$ fuel or noncov]$    
fuel emission m ?an once4  #dfic4 ,fee  
on noncov]$ fuel emissions  7a7 ,9 g5]al
 ,dur+ any cal5d> ye> t beg9s aft]      
,decemb] #ca1 #bjbc1 !re is impos$ a fee
 on a cov]$ entity = any noncov]$ fuel  
emissions :i* occur dur+ ! cal5d> ye>4  
7b7 ,am\nt ,! fee to be paid "u         
subsection 7a7 by ! cov]$ entity :i* is 
! s\rce ( ! emissions describ$ 9 t      
subsection %all be an am\nt equal to--  
7#a7 ! total am\nt1 9 metric tons (     
,,co#b-;e1 ( emitt$ gre5h\se gases1     
multipli$ by  7#b7 an am\nt equal to !  
c>bon fee rate 9 effect "u section      
#dfib7;d7 = ! cal5d> ye> ( su* emission4
  7c7 ,adm9i/rative au?ority ,!         
,secret>y1 9 consultation ) !           
,adm9i/rator1 %all prescribe su*        
regulations1 & o!r guidance1 to assess &
 collect ! c>bon fee impos$ by ?is      
section1 includ+ regulations describ+ ! 
requirem5ts = ! qu>t]ly paym5t ( su*    
fees4  #dfid4 ,refunds = c>bon capture1 

seque/ration1 & utilization  7a7 ,9     
g5]al  7#a7 ,capture1 seque/ration1 &   
use ,! ,secret>y1 9 consultation ) !    
,adm9i/rator & ! ,secret>y ( ,en]gy1    
%all prescribe regulations = provid+    
paym5ts to any p]son :i* captures       
qualifi$ c>bon oxide :i* is-- 7,a7      
dispos$ ( by su* p]son 9 secure         
geological /orage1 z describ$ 9 section 
#de,q7f77#b71 or  7,b7 us$ 9 a mann] :i*
 has be5 approv$ by ! ,secret>y pursuant
 to subsection 7c74  7#b7 ,election ,if 
! p]son describ$ 9 p>agraph 7#a7 makes  
an election "u ?is p>agraph 9 su* "t &  
mann] z ! ,secret>y may prescribe by    
regulations1 ! cr$it "u ?is section--   
7,a7 %all be all[able to ! p]son t owns 
! facility describ$ 9 subsection        
7b77#a71 &  7,b7 %all n be all[able to !
 p]son describ$ 9 p>agraph 7#a74  7b7   
,paym5ts = c>bon capture  7#a7 ,9 g5]al 
,9 ! case ( any facility = :i* c>bon    
capture equipm5t has be5 plac$ 9 s]vice1
 ! ,secret>y %all make paym5ts 9 ! same 
mann] z if su* paym5t 0 a refund ( an   

ov]paym5t ( ! fee impos$ by section     
#dfib or #dfic4  7#b7 ,am\nt ( paym5t ,!
 paym5t det]m9$ "u ?is subsection %all  
be an am\nt equal to-- 7,a7 ! metric    
tons ( qualifi$ c>bon oxide captur$ &   
dispos$ (1 us$1 or utiliz$ 9 a mann]    
consi/5t ) subsection 7a71 multipli$ by 
7,b7 7i7 ! c>bon fee rate dur+ ! ye> 9  
:i* ! c>bon fee 0 impos$ by section     
#dfib on ! cov]$ fuel to :i* su* c>bon  
oxide relates1 or  7ii7 9 ! case ( a    
direct air capture facility 7z def9$ 9  
section #de,q7e77#a771 ! c>bon fee rate 
dur+ ! ye> 9 :i* ! qualifi$ c>bon oxide 
0 captur$ & dispos$ (1 us$1 or utiliz$4 
7c7 ,approv$ uses ( qualifi$ c>bon oxide
 ,! ,secret>y1 9 consultation )         
,adm9i/rator & ! ,secret>y ( ,en]gy1    
%all1 ?r\gh regulation or o!r public    
guidance1 det]m9e :i* uses ( qualifi$   
c>bon oxide are eligible = paym5ts "u   
?is section1 :i* may include-- 7#a7 use 
z a t]ti>y injectant 9 a qualifi$       
enhanc$ oil or natural gas recov]y      
project 7z def9$ 9 subsection 7e77#b7 ( 

section #de,q7 & disposal 9 secure      
geological /orage1  7#b7 utilization 9 a
 mann] describ$ 9 clause 7i7 or 7ii7 (  
section #de,q7f77#e77;,a71 or  7#c7 any 
o!r use :i* ensures m9imal leakage or   
escape ( su* c>bon oxide4  7d7          
,exception ,9 ! case ( any facility :i* 
is own$ by an entity t is det]m9$ to be 
9 violation ( any applicable air or wat]
 quality regulations1 su* facility %all 
n be eligible = any paym5t "u ?is       
section dur+ ! p]iod ( su* violation4   
#dfie4 ,bord] adju/m5ts  7a7 ,9 g5]al ,!
 fees impos$ by1 & refunds all[$ "u1 ?is
 section %all be ref]r$ to z #8! c>bon  
bord] fee adju/m5t'4  7b7 ,exports  7#a7
 ,c>bon-int5sive products ,9 ! case (   
any c>bon-int5sive product :i* is       
export$ f ! ,unit$ ,/ates1 ! ,secret>y  
%all pay to ! p]son export+ su* product 
a refund equal to ! am\nt ( ! co/ ( su* 
product attributable to any fees impos$ 
"u ?is sub*apt] relat$ to ! manufactur+ 
( su* product 7z det]m9$ "u regulations 
e/abli%$ by ! ,secret>y74  7#b7 ,cov]$  

fuels ,9 ! case ( any cov]$ fuel :i* is 
export$ f ! ,unit$ ,/ates1 ! ,secret>y  
%all pay to ! p]son export+ su* fuel a  
refund equal to ! am\nt ( ! co/ ( su*   
fuel attributable to any fees impos$ "u 
?is sub*apt] relat$ to ! use1 sale1 or  
transf] ( su* fuel4  7c7 ,imports  7#a7 
,c>bon-int5sive products  7,a7          
,imposition ( equival5cy fee ,9 ! case (
 any c>bon-int5sive product import$ into
 ! ,unit$ ,/ates1 !re is impos$ an      
equival5cy fee on ! p]son import+ su*   
product 9 an am\nt equal to ! co/ ( su* 
product t w\ld be attributable to any   
fees impos$ "u ?is sub*apt] relat$ to ! 
manufactur+ ( su* product if any inputs 
or processes us$ 9 manufactur+ su*      
product 7 subject to su* fees 7z det]m9$
 "u regulations e/abli%$ by !           
,secret>y74  7,b7 ,r$uction 9 fee ,!    
am\nt ( ! equival5cy fee "u subp>agraph 
7,a7 %all be r$uc$ by ! am\nt1 if any1 (
 any fees impos$ on ! c>bon-int5sive    
product by ! =eign nation or gov]nm5tal 
units f :i* su* product 0 import$4  7#b7

 ,cov]$ fuels  7,a7 ,9 g5]al ,9 ! case (
 any cov]$ fuel import$ into ! ,unit$   
,/ates1 !re is impos$ a fee on ! p]son  
import+ su* fuel 9 an am\nt equal to !  
am\nt ( any fees t w\ld be impos$ "u ?is
 sub*apt] relat$ to ! use1 sale1 or     
transf] ( su* fuel4  7,b7 ,r$uction 9   
fee ,! am\nt ( ! fee "u subp>agraph 7,a7
 %all be r$uc$ by ! am\nt1 if any1 ( any
 fees impos$ on ! cov]$ fuel by ! =eign 
nation or gov]nm5tal units f :i* ! fuel 
0 import$4  7d7 ,treatm5t ( alt]native  
policies z fees ,"u regulations e/abli%$
 by ! ,secret>y1 =eign policies t h     
sub/antially ! same effect 9 r$uc+      
emissions ( gre5h\se gases z fees %all  
be treat$ z fees = purposes (           
subsections 7b7 & 7c74  7e7 ,regulatory 
au?ority  7#a7 ,9 g5]al ,! ,secret>y    
%all consult ) ! ,adm9i/rator1 !        
,secret>y ( ,comm]ce1 & ! ,secret>y (   
,en]gy 9 e/abli%+ rules & regulations   
implem5t+ ! purposes ( ?is section4     
7#b7 ,treaties ,! ,secret>y1 9          
consultation ) ! ,secret>y ( ,/ate1 may 

adju/ ! applicable am\nts ( ! refunds & 
equival5cy fees "u ?is section 9 a mann]
 t is consi/5t ) any obligations ( !    
,unit$ ,/ates "u an int]national        
agreem5t4  4  #d4 ,am]ica's ,clean      
,future ,fund  7a7 ,9 g5]al ,sub*apt] ,a
 ( *apt] #ih ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by add+ at ! end !     
foll[+3  #ieab4 ,am]ica's ,clean ,future
 ,fund  7a7 ,e/abli%m5t & fund+ ,!re is 
e/abli%$ 9 ! ,treasury ( ! ,unit$ ,/ates
 a tru/ fund to be kn[n z ! ,am]ica's   
,clean ,future ,fund 7ref]r$ to 9 ?is   
section z ! ,tru/ ,fund71 consi/+ ( su* 
am\nts z are appropriat$ to ! ,tru/     
,fund "u subsection 7b74  7b7 ,transf]s 
to ,am]ica's ,clean ,future ,fund ,!re  
is appropriat$ to ! ,tru/ ,fund1 out (  
any funds 9 ! ,treasury n o!rwise       
appropriat$1 am\nts equal to ! fees     
receiv$ into ! ,treasury "u sections    
#dfib1 #dfic1 & #dfie1 less-- 7#a7 any  
am\nts refund$ or paid "u sections      
#dfib7;d71 #dfid1 & #dfie7;b71 &  7#b7 =
 ea* ( ! fir/ #ah fiscal ye>s beg9n+    

aft] ,septemb] #cj1 #bjbb1 an am\nt     
equal to ! quoti5t (-- 7,a7             
#ajj1jjj1jjj1jjj1 &  7,b7 #ah4  7c7     
,exp5ditures ,= ea* fiscal ye>1 am\nts 9
 ! ,tru/ ,fund %all be apportion$ z     
foll[s3 7#a7 ,c>bon fee rebate & paym5ts
 = c>bon r$uction & seque/ration  7,a7  
,c>bon fee rebate ,= ! purposes describ$
 9 section #e ( ! ,am]ica's ,clean      
,future ,fund ,act & any exp5ses        
necess>y to adm9i/] su* section-- 7i7 = 
ea* ( ! fir/ #aj fiscal ye>s beg9n+ aft]
 ,septemb] #cj1 #bjbb1 an am\nt equal   
to-- 7,i7 #ge p]c5t ( ^? am\nts1 m9us   
7,,ii7 ! am\nt det]m9$ "u subp>agraph   
7,b7 = su* fiscal ye>1 &  7ii7 = any    
fiscal ye> beg9n+ aft] ! p]iod describ$ 
9 clause 7i71 ! applicable p]c5tage (   
su* am\nts4  7,b7 ,paym5ts = c>bon      
r$uction & seque/ration ,= ! purposes   
describ$ 9 section #f ( ! ,am]ica's     
,clean ,future ,fund ,act1 = ea* ( !    
fir/ #aj fiscal ye>s beg9n+ aft]        
,septemb] #cj1 #bjbb1 an am\nt equal to 
#g p]c5t ( ! am\nt det]m9$ annually "u  

subp>agraph 7,a77i77,i74  7,c7          
,applicable p]c5tage ,= purposes (      
subp>agraph 7,a77ii71 ! applicable      
p]c5tage %all be equal to-- 7i7 = ! fir/
 fiscal ye> beg9n+ aft] ! p]iod describ$
 9 subp>agraph 7,a77i71 #gf p]c5t1  7ii7
 = ea* ( ! fir/ #c fiscal ye>s subsequ5t
 to ! p]iod describ$ 9 clause 7i71 !    
applicable p]c5tage = ! prec$+ fiscal   
ye> increas$ by #a p]c5tage po9t1 &     
7iii7 = any fiscal ye> subsequ5t to !   
p]iod describ$ 9 clause 7ii71 #hj p]c5t4
  7#b7 ,climate ,*ange ,f9ance          
,corporation  7,a7 ,9 g5]al ,= !        
purposes describ$ 9 section #b ( !      
,am]ica's ,clean ,future ,fund ,act1 !  
applicable p]c5tage ( su* am\nts4  7,b7 
,applicable p]c5tage ,= purposes ( ?is  
p>agraph1 ! applicable p]c5tage %all be 
equal to-- 7i7 = ea* ( ! fir/ #aj fiscal
 ye>s beg9n+ aft] ! p]iod describ$ 9    
subsection 7e7 ( su* section1 #ae p]c5t1
  7ii7 = ea* ( ! fir/ #d fiscal ye>s    
subsequ5t to ! p]iod describ$ 9 clause  
7i71 ! applicable p]c5tage = ! prec$+   

fiscal ye> increas$ by #a p]c5tage po9t1
 &  7iii7 = any fiscal ye> subsequ5t to 
! p]iod describ$ 9 clause 7ii71 #bj     
p]c5t4  7#c7 ,transition assi/ance =    
impact$ communities  7,a7 ,9 g5]al ,= ! 
purposes describ$ 9 section #g ( !      
,am]ica's ,clean ,future ,fund ,act1 !  
applicable p]c5tage ( su* am\nts4  7,b7 
,applicable p]c5tage ,= purposes ( ?is  
p>agraph1 ! applicable p]c5tage %all be 
equal to-- 7i7 = ea* ( ! fir/ #aj fiscal
 ye>s beg9n+ aft] ,septemb] #cj1 #bjbb1 
#aj p]c5t1  7ii7 = ea* ( ! fir/ #d      
fiscal ye>s subsequ5t to ! p]iod        
describ$ 9 clause 7i71 ! applicable     
p]c5tage = ! prec$+ fiscal ye> r$uc$ by 
#b p]c5tage po9ts1 &  7iii7 = any fiscal
 ye> subsequ5t to ! p]iod describ$ 9    
clause 7ii71 #j p]c5t4  7d7 ,adju/m5t   
,if1 pursuant to section #dfib7;g71 !   
c>bon fee has be5 r$uc$ to z]o = cal5d> 
ye> #bjbb-- 7#a7 subsection 7b77#b7 &   
p>agraphs 7#a77;,a77i71 7#a77;,b71 &    
7#c77;,b77i7 ( subsection 7c7 %all ea*  
be appli$ by sub/itut+ ,septemb] #cj1   

#bjbc = ,septemb] #cj1 #bjbb1 &  7#b7   
subsection 7b77#b77;,a7 %all be appli$  
by sub/itut+ #aej1jjj1jjj1jjj =         
#ajj1jjj1jjj1jjj4  4  7b7 ,cl]ical      
am5dm5t ,! table ( sections = sub*apt]  
,a ( *apt] #ih ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+ new item3  ,sec4 #ieab4        
,am]ica's ,clean ,future ,fund4  4  #e4 
,am]ica's ,clean ,future ,fund ,/imulus 
7a7 ,eligible individual  7#a7 ,9 g5]al 
,9 ?is section1 ! t]m eligible          
individual means1 ) respect to any      
qu>t]1 any natural liv+ p]son-- 7,a7 :o 
has a valid ,social ,security numb] or  
taxpay] id5tification numb]1  7,b7 :o   
has atta9$ #ah ye>s ( age1 &  7,c7 ^:   
pr9cipal place ( abode is 9 ! ,unit$    
,/ates = m ?an "o-half ( ! mo/ rec5t    
taxable ye> = :i* a return has be5 fil$4
  7#b7 ,v]ification ,! ,secret>y ( !    
,treasury1 or ! ,secret>y's delegate    
7ref]r$ to 9 ?is section z ! ,secret>y7 
may v]ify ! eligibility ( an individual 
to receive a c>bon fee rebate paym5t "u 

subsection 7b74  7b7 ,rebates ,subject  
to subsections 7c77#b7 & 7l71 f am\nts 9
 ! ,am]ica's ,clean ,future ,fund       
e/abli%$ by section #ieab7;c77#a77;,a7 (
 ! ,int]nal ,rev5ue ,code ( #aihf t are 
available 9 any ye>1 ! ,secret>y %all1 =
 ea* cal5d> qu>t] beg9n+ aft] ,septemb] 
#cj1 #bjbb1 make c>bon fee rebate       
paym5ts to ea* eligible individual1 to  
be kn[n z ,am]ica's ,clean ,future ,fund
 ,/imulus paym5ts 7ref]r$ to 9 ?is      
section z c>bon fee rebate paym5ts74    
7c7 ,pro-,rata %>e  7#a7 ,9 g5]al ,)    
respect to ea* qu>t] dur+ any fiscal ye>
 beg9n+ aft] ,septemb] #cj1 #bjbb1 !    
c>bon fee rebate paym5t is #a pro-rata  
%>e = ea* eligible individual ( an am\nt
 equal to #be p]c5t ( am\nts apportion$ 
"u section #ieab7;c77#a77;,a7 ( !       
,int]nal ,rev5ue ,code ( #aihf = su*    
fiscal ye>4  7#b7 ,initial annual rebate
 paym5ts  7,a7 ,9 g5]al ,f am\nts       
appropriat$ "u subsection 7j71 !        
,secret>y %all1 = ea* ( fiscal ye>s     
#bjba & #bjbb1 make c>bon fee rebate    

paym5ts to ea* eligible individual dur+ 
! ?ird qu>t] ( ea* su* fiscal ye>4  7,b7
 ,pro-rata %>e ,= purposes ( ?is        
p>agraph1 ! c>bon fee rebate paym5t is  
#a pro-rata %>e = ea* eligible          
individual ( ! am\nt appropriat$ "u     
subsection 7j7 = ! fiscal ye>4  7#c7    
,e/imate ,= ea* fiscal ye> describ$ 9   
p>agraph 7#a71 ! ,secret>y %all1 n lat] 
?an ! fir/ day ( su* fiscal ye>1        
publicly ann\nce an e/imate ( ! am\nt ( 
! c>bon fee rebate paym5t = ea* qu>t]   
dur+ su* fiscal ye>4  7d7 ,phase\t  7#a7
 ,def9itions ,9 ?is subsection3 7,a7    
,modifi$ adju/$ gross income ,! t]m     
modifi$ adju/$ gross income means adju/$
 gross income increas$ by any am\nt     
exclud$ f gross income "u section #iaa1 
#ica1 or #icc ( ! ,int]nal ,rev5ue ,code
 ( #aihf4  7,b7 ,h\sehold memb] ,! t]m  
h\sehold memb] ( ! taxpay] means !      
taxpay]1 ! taxpay]'s sp\se1 & any       
dep5d5t ( ! taxpay]4  7,c7 ,?re%old     
am\nt ,! t]m ?re%old am\nt means-- 7i7  
#aej1jjj 9 ! case ( a taxpay] fil+ a    

jo9t return1 &  7ii7 #ge1jjj 9 ! case ( 
a taxpay] n fil+ a jo9t return4  7#b7   
,phase\t ( paym5ts ,9 ! case ( any      
taxpay] ^: modifi$ adju/$ gross income =
 ! mo/ rec5t taxable ye> = :i* a return 
has be5 fil$ exce$s ! ?re%old am\nt1 !  
am\nt ( ! c>bon fee rebate paym5t       
o!rwise payable to any h\sehold memb] ( 
! taxpay] "u ?is section %all be r$uc$  
7b n bel[ z]o7 by a doll> am\nt equal to
 #e p]c5t ( su* paym5t 7z det]m9$ be=e  
application ( ?is p>agraph7 = ea* #a1jjj
 7or fraction !re(7 by :i* ! modifi$    
adju/$ gross income ( ! taxpay] exce$s !
 ?re%old am\nt4  7e7 ,fee treatm5t (    
paym5ts ,am\nts paid "u ?is section %all
 n be includible 9 gross income =       
purposes ( ,f$]al income taxes4  7f7    
,f$]al programs & ,f$]al assi/$ programs
 ,! c>bon fee rebate paym5t receiv$ by  
any eligible 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$]al funds4  7g7       
,disclosure ( return in=mation ,section 
#fajc7l7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by add+ at ! end ! foll[+
 new p>agraph3  7#bc7 ,disclosure (     
return in=mation relat+ to c>bon fee    
rebate paym5ts  7,a7 ,dep>tm5t (        
,treasury ,return in=mation ) respect to
 any taxpay] %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 #e ( ! ,am]ica's ,clean
 ,future ,fund ,act4  7,b7 ,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 su* section4  4  7h7          
,regulations ,! ,secret>y %all prescribe
 su* regulations1 & o!r guidance1 z may 
be necess>y to c>ry out ! purposes ( ?is

 section1 includ+-- 7#a7 e/abli%m5t (   
rules = eligible individuals :o h n fil$
 a rec5t tax return1 &  7#b7 9          
coord9ation ) ! ,commission] ( ,social  
,security1 ! ,secret>y ( ,vet]ans       
,affairs1 & any relevant ,/ate ag5cies1 
e/abli% me?ods to id5tify eligible      
individuals & provide c>bon fee rebate  
paym5ts to su* individuals ?r\gh        
appropriate means ( di/ribution1 includ+
 ?r\gh ! use ( electronic b5efit transf]
 c>ds4  7i7 ,public aw>5ess campaign ,! 
,secret>y %all conduct a public aw>5ess 
campaign1 9 coord9ation ) ! ,commission]
 ( ,social ,security & ! heads ( o!r    
relevant ,f$]al ag5cies1 to provide     
in=mation to ! public reg>d+ !          
availability ( c>bon fee rebate paym5ts 
"u ?is section4  7j7 ,initial           
appropriation ,= purposes ( subsection  
7c77#b71 !re is appropriat$1 out ( any  
funds 9 ! ,treasury n o!rwise           
appropriat$1 to rema9 available until   
exp5d$-- 7#a7 = ! fiscal ye> end+       
,septemb] #cj1 #bjba1 #cg1ejj1jjj1jjj1  

7#b7 = ! fiscal ye> end+ ,septemb] #cj1 
#bjbb1 #cg1ejj1jjj1jjj1 &  7#c7 if1     
pursuant to section #dfib7;g7 ( !       
,int]nal ,rev5ue ,code ( #aihf 7z add$  
by section #c71 ! c>bon fee has be5     
r$uc$ to z]o = cal5d> ye> #bjbb1        
#cg1ejj1jjj = ! fiscal ye> end+         
,septemb] #cj1 #bjbc4  7k7 ,adju/m5t    
,if1 pursuant to section #dfib7;g7 ( !  
,int]nal ,rev5ue ,code ( #aihf1 ! c>bon 
fee has be5 r$uc$ to z]o = cal5d> ye>   
#bjbb-- 7#a7 subsections 7b7 & 7c77#a7  
%all ea* be appli$ by sub/itut+         
,septemb] #cj1 #bjbc = ,septemb] #cj1   
#bjbb1 &  7#b7 subsection 7c77#b7 %all  
be appli$ by sub/itut+ #bjba1 #bjbb1 &  
#bjbc = #bjba & #bjbb4  7l7 ,t]m9ation  
,?is section %all n apply to any cal5d> 
qu>t] beg9n+ aft]-- 7#a7 a det]m9ation  
by ! ,secret>y "u section               
#dfib7;d77#c77;,b7 ( ! ,int]nal ,rev5ue 
,code ( #aihf2 or  7#b7 any p]iod ( #h  
consecutive cal5d> qu>t]s = :i* ! am\nt 
( c>bon fee rebate paym5t 7)\t          
application ( subsection 7d77 dur+ ea*  

su* qu>t] is less ?an #bj4  #f4 ,paym5ts
 = c>bon r$uction & seque/ration  7a7 ,9
 g5]al ,! ,secret>y ( ,agriculture      
7ref]r$ to 9 ?is section z ! ,secret>y71
 9 consultation ) ! ,adm9i/rator ( !    
,environm5tal ,protection ,ag5cy1 %all  
provide paym5ts to f>m]s1 ran*]s1       
private =e/ l&[n]s1 & o!r agricultural  
l&[n]s 9 ! ,unit$ ,/ates t r$uce or     
seque/] gre5h\se gas emissions ?r\gh !  
adoption ( qualify+ f>m+1 ran*+1 & =e/ry
 practices describ$ 9 subsection 7b74   
7b7 ,qualify+ practices  7#a7 ,9 g5]al  
,= a f>m+1 ran*+1 or =e/ry practice to  
be eligible = paym5ts "u subsection 7a71
 ! ,secret>y %all det]m9e t ! practice  
qualifies z measurable1 reportable1 &   
v]ifiable = r$uc+ or seque/]+ gre5h\se  
gas emissions4  7#b7 ,includ$ practices 
,f>m+1 ran*+1 & =e/ry practices t !     
,secret>y may det]m9e to be eligible =  
paym5ts "u p>agraph 7#a7 are-- 7,a7     
cons]vation enhancem5ts1 :i* may        
include-- 7i7 improv$ soil1 wat]1 & l&  
managem5t2  7ii7 cov] crops2  7iii7     

prairie1 buff]1 & edge-(-field /rips2   
7iv7 cons]vation tillage2  7v7 easem5ts2
  7vi7 f]tiliz] practice improvem5ts2   
7vii7 ecologically appropriate          
re=e/ation & o!r su/a9able =e/ry &      
relat$ /ew>d%ip practices2  7viii7 l& or
 soil c>bon seque/ration2  7ix7         
avoidance ( ! conv]sion ( grassl&1      
wetl&1 & =e/ l&2 &  7x7 grassl&         
managem5t1 includ+ prescrib$ graz+2     
7,b7 live/ock managem5t1 :i* may        
include-- 7i7 ent]ic f]m5tation         
r$uction2 &  7ii7 a]obic dige/ion or    
improv$ manure managem5t2  7,c7 capital 
upgrades & infra/ructure inve/m5ts to   
r$uce gre5h\se gas emissions1 :i* may   
include-- 7i7 build+ & equipm5t         
refurbi%m5t or upgrades2  7ii7 adoption 
( r5ewable or clean en]gy & en]gy       
effici5cy te*nologies2 &  7iii7 avoid+  
or remov+ agricultural l& f urban or    
suburban developm5t2 &  7,d7 any o!r    
practice1 z det]m9$ by ! ,secret>y1 t   
results 9 a quantifiable r$uction 9 or  
seque/ration ( gre5h\se gas emissions4  

7c7 ,consid]ations ,9 det]m9+ ! am\nt & 
duration ( a paym5t "u subsection 7a71 !
 ,secret>y %all consid]-- 7#a7 ! degree 
( additionality ( ! gre5h\se gas        
r$uction or seque/ration z a result ( ! 
applicable qualify+ practice describ$ 9 
subsection 7b71 z comp>$ to a hi/orical 
basel9e2  7#b7 :e!r ! recipi5t ( !      
paym5t 0 an e>ly adopt] ( #a or m       
practices t r$uce or seque/] gre5h\se   
gas emissions2 &  7#c7 ! degree (       
transitionality or p]man5ce ( ! gre5h\se
 gas r$uction or seque/ration z a result
 ( ! applicable qualify+ practice       
describ$ 9 subsection 7b74  7d7         
,measurem5t1 report+1 monitor+1 &       
v]ification  7#a7 ,9 g5]al ,! ,secret>y 
%all approve & provide ov]sight ( #a or 
m ?ird-p>ty ag5ts to provide s]vices    
describ$ 9 p>agraph 7#b74  7#b7 ,s]vices
 describ$ ,s]vices ref]r$ to 9 p>agraph 
7#a7 are det]m9+ ! r$uction or          
seque/ration ( gre5h\se gas emissions z 
a result ( qualify+ practices describ$ 9
 subsection 7b7 by-- 7,a7 measurem5t2   

7,b7 report+2  7,c7 monitor+2  7,d7     
v]ification2 &  7,e7 us+ me?ods to      
acc\nt = additionality1 z comp>$ to a   
hi/orical basel9e4  7#c7 ,use (         
protocols ,s]vices ref]r$ to 9 p>agraph 
7#a7 %all be provid$ us+ g5]ally accept$
 protocols4  7#d7 ,use ( ,dep>tm5t (    
,agriculture res\rces ,! ,secret>y %all 
require a ?ird-p>ty ag5t approv$ "u     
p>agraph 7#a7 to use ! res\rces1 bo>ds1 
committees1 geospatial data1 a]ial or   
o!r maps1 employees1 (fices1 &          
capacities ( ! ,dep>tm5t ( ,agriculture 
9 provid+ s]vices "u t p>agraph4  7#e7  
,privacy & data security  7,a7 ,9 g5]al 
,! ,secret>y %all e/abli%-- 7i7         
safegu>ds to protect ! privacy (        
in=mation t is submitt$ ?r\gh or reta9$ 
by a ?ird-p>ty ag5t approv$ "u p>agraph 
7#a71 includ+ employees & contractors ( 
! ?ird-p>ty ag5t2 &  7ii7 su* o!r rules 
& /&>ds ( data security z ! ,secret>y   
det]m9es to be appropriate to c>ry out  
?is section4  7,b7 ,p5alties ,!         
,secret>y %all e/abli% p5alties = any   

violations ( privacy or confid5tiality  
"u subp>agraph 7,a74  7#f7 ,disclosure (
 in=mation  7,a7 ,public disclosure     
,in=mation collect$ = purposes ( s]vices
 provid$ "u p>agraph 7#a7 may be        
disclos$ to ! public or disclos$ =      
purposes ( audit1 rese>*1 or improvem5t 
( ! program "u ?is section-- 7i7 if !   
in=mation is trans=m$ into a /ati/ical  
or aggregate =m su* t ! in=mation does n
 include any id5tifiable or p]sonal     
in=mation ( individual produc]s2 or     
7ii7 9 a =m t may include id5tifiable or
 p]sonal in=mation ( a produc] if t     
produc] cons5ts to ! disclosure ( !     
in=mation4  7,b7 ,requirem5t ,!         
p>ticipation ( a produc] 91 & ! receipt 
( any b5efit by ! produc] "u1 ! program 
"u ?is section or any o!r program       
adm9i/]$ by ! ,secret>y may n be        
condition$ on ! produc] provid+ cons5t  
"u subp>agraph 7,a77ii74  7e7           
,ineligibility ,a p]son t is det]m9$ to 
be 9 violation ( any applicable air     
quality regulation or ! ,f$]al ,wat]    

,pollution ,control ,act 7#cc ,u4,s4,c4 
#abea et seq47 7includ+ regulations7    
%all n be eligible = any paym5t "u      
subsection 7a7 dur+ ! p]iod ( !         
violation4  7f7 ,regulations ,n lat] ?an
 ,july #a1 #bjbb1 ! ,secret>y %all issue
 regulations to c>ry out ?is section1   
includ+-- 7#a7 ! am\nt ( a paym5t "u    
subsection 7a71 :i* %all be bas$ on--   
7,a7 ! quantity ( c>bon dioxide         
equival5t emissions r$uc$ or seque/]$2 &
  7,b7 ! consid]ations describ$ 9       
subsection 7c72  7#b7 a me?odology t any
 ?ird-p>ty ag5ts approv$ "u subsection  
7d77#a7 %all use to provide ! s]vices "u
 t subsection2  7#c7 a limitation on !  
total am\nt ( paym5ts t may be made "u  
subsection 7a7 ) respect to a produc]2 &
  7#d7 a requirem5t = ! duration (      
emissions r$uction or seque/ration =    
purposes ( eligibility = paym5ts "u     
subsection 7a74  7g7 ,effectiv5ess  7#a7
 ,9 g5]al ,! au?ority to provide paym5ts
 "u ?is section %all be effective = ea* 
( ! fir/ #aj fiscal ye>s beg9n+ aft]    

,septemb] #cj1 #bjbb4  7#b7 ,adju/m5t   
,if1 pursuant to section #dfib7;g7 ( !  
,int]nal ,rev5ue ,code ( #aihf 7z add$  
by section #c71 ! c>bon fee has be5     
r$uc$ to z]o = cal5d> ye> #bjbb1        
p>agraph 7#a7 %all be appli$ by         
sub/itut+ ,septemb] #cj1 #bjbc =        
,septemb] #cj1 #bjbb4  #g4 ,transition  
assi/ance = impact$ communities  7a7 ,9 
g5]al ,! ,secret>y ( ,comm]ce1 act+     
?r\gh ! ,assi/ant ,secret>y ( ,comm]ce =
 ,economic ,developm5t 7ref]r$ to 9 ?is 
section z ! ,secret>y71 9 coord9ation ) 
! ,secret>y ( ,labor1 %all provide      
grants to eligible entities = transition
 assi/ance to a l[-c>bon economy4  7b7  
,eligible entities ,an entity eligible  
to receive a grant "u ?is section is a  
labor organization1 an in/itution (     
high] education 7z def9$ 9 section #aja 
( ! ,high] ,education ,act ( #aife 7#bj 
,u4,s4,c4 #ajja771 a unit ( ,/ate or    
local gov]nm5t1 an economic developm5t  
organization1 a nonpr(it organization1  
community-bas$ organization1 or         

int]m$i>y1 or a ,/ate bo>d or local bo>d
 7z ^? t]ms are def9$ 9 section #c ( !  
,work=ce ,innovation & ,opportunity ,act
 7#bi ,u4,s4,c4 #cajb77 t s]ves or is   
locat$ 9 a community t-- 7#a7 z det]m9$ 
by ! ,secret>y1 9 coord9ation ) !       
,secret>y ( ,labor1 has be5 or w be     
impact$ by economic *anges 9            
c>bon-int5sive indu/ries1 includ+ job   
losses2  7#b7 z det]m9$ by ! ,secret>y1 
9 consultation ) ! ,adm9i/rator ( !     
,f$]al ,em]g5cy ,managem5t ,ag5cy1 has  
be5 or is at risk ( be+ impact$ by      
extreme wea!r ev5ts1 sea level rise1 &  
natural disa/]s relat$ to climate *ange2
 or  7#c7 z det]m9$ by ! ,secret>y1 9   
consultation ) ! ,adm9i/rator ( !       
,environm5tal ,protection ,ag5cy1 has   
be5 impact$ by h>mful residuals f a     
fossil fuel or c>bon-int5sive indu/ry4  
7c7 ,use ( funds ,an eligible entity t  
receives a grant "u ?is section %all use
 ! grant =-- 7#a7 economic & work=ce    
developm5t activities1 su* z-- 7,a7 job 
creation2  7,b7 provid+ reemploym5t &   

work] transition assi/ance1 includ+     
regi/]$ appr5tice%ips1 subsidiz$        
employm5t1 job tra9+1 transitional jobs1
 & supportive s]vices 7z def9$ 9 section
 #c ( ! ,work=ce ,innovation &          
,opportunity ,act 7#bi ,u4,s4,c4        
#cajb771 ) priority giv5 to-- 7i7 work]s
 impact$ by *anges 9 c>bon-int5sive     
indu/ries2  7ii7 individuals ) a b>ri]  
to employm5t 7z def9$ 9 section #c ( !  
,work=ce ,innovation & ,opportunity ,act
 7#bi ,u4,s4,c4 #cajb772 &  7iii7       
programs t lead to a recogniz$          
po/second>y cr$5tial 7z def9$ 9 section 
#c ( ! ,work=ce ,innovation &           
,opportunity ,act 7#bi ,u4,s4,c4        
#cajb772  7,c7 local & regional         
inve/m5t1 includ+ comm]cial & indu/rial 
economic div]sification2  7,d7 export   
promotion2 &  7,e7 e/abli%m5t ( a mon?ly
 subsidy paym5t = work]s :o retire e>ly 
due to economic *anges 9 c>bon-int5sive 
indu/ries2  7#b7 climate *ange          
resili5cy1 su* z-- 7,a7 build+          
electrical1 communications1 utility1    

transportation1 & o!r infra/ructure 9   
flood-prone areas above flood zone      
levels2  7,b7 build+ flood & /ormpro(+  
measures 9 flood-prone areas &          
erosion-prone areas2  7,c7 increas+ !   
resili5ce ( a surface transportation    
infra/ructure asset to )/& extreme wea!r
 ev5ts & climate *ange impacts2  7,d7   
improv+ /ormwat] infra/ructure2  7,e7   
increas+ ! resili5ce ( agriculture to   
extreme wea!r2  7,f7 ecological         
re/oration2  7,g7 increas+ ! resili5ce (
 =e/s to wildfires2 &  7,h7 increas+    
coa/al resili5ce2  7#c7 environm5tal    
cleanup f fossil fuel indu/ry facilities
 t are ab&on$ or retir$1 or clos$ due to
 bankruptcy1 & residuals f              
c>bon-int5sive indu/ries1 su* z-- 7,a7  
coal a% & petroleum coke cleanup2  7,b7 
m9e reclamation2 &  7,c7 rem$iation (   
impair$ wat]ways & dr9k+ wat] res\rces2 
or  7#d7 o!r activities z ! ,secret>y1 9
 coord9ation ) ! ,secret>y ( ,labor1 !  
,adm9i/rator ( ! ,f$]al ,em]g5cy        
,managem5t ,ag5cy1 & ! ,adm9i/rator ( ! 

,environm5tal ,protection ,ag5cy1       
det]m9es to be appropriate4  7d7        
,requirem5ts  7#a7 ,labor /&>ds2        
nondiscrim9ation ,an eligible entity t  
receives a grant "u ?is section %all use
 ! funds 9 a mann] consi/5t ) sections  
#aha & #ahh ( ! ,work=ce ,innovation &  
,opportunity ,act 7#bi ,u4,s4,c4 #cbda1 
#cbdh74  7#b7 ,wage rate requirem5ts    
,all labor]s & me*anics employ$ by      
eligible entities to c>ry out projects &
 activities fund$ directly by or assi/$ 
9 :ole or 9 "p by a grant "u ?is section
 %all be paid at wages at rates n less  
?an ^? prevail+ on projects ( a simil>  
"* 9 ! locality z det]m9$ by ! ,secret>y
 ( ,labor 9 accordance ) sub*apt] ,,iv (
 *apt] #ca ( title #dj1 ,unit$ ,/ates   
,code 7commonly kn[n z ! ,davis-,bacon  
,act74  7#c7 ,buy ,am]ica requirem5ts   
7,a7 ,9 g5]al ,all iron1 /eel1 &        
manufactur$ goods us$ = projects &      
activities c>ri$ out ) a grant "u ?is   
section %all be produc$ 9 ! ,unit$      
,/ates4  7,b7 ,waiv] ,! ,secret>y may   

waive ! requirem5t 9 subp>agraph 7,a7 if
 ! ,secret>y f9ds t-- 7i7 en=c+ !       
requirem5t w\ld be inconsi/5t ) ! public
 int]e/2  7ii7 ! iron1 /eel1 &          
manufactur$ goods produc$ 9 ! ,unit$    
,/ates are n produc$ 9 a suffici5t &    
reasonably available am\nt or are n ( a 
satisfactory quality2 or  7iii7 en=c+ ! 
requirem5t w increase ! ov]all co/ ( !  
project or activity by m ?an #be p]c5t4 
7e7 ,coord9ation ,an eligible entity t  
receives a grant "u ?is section is      
enc\rag$ to collaborate or p>tn] ) o!r  
eligible entities 9 c>ry+ out activities
 ) t grant4  7f7 ,report ,n lat] ?an #c 
ye>s aft] ! date on :i* ! ,secret>y     
e/abli%es ! grant program "u ?is        
section1 ! ,secret>y & ! ,secret>y (    
,labor %all submit to ,congress a report
 on ! effectiv5ess ( ! grant program1   
includ+-- 7#a7 ! numb] ( individuals t h
 receiv$ reemploym5t or work] transition
 assi/ance "u ?is section2  7#b7 a      
description ( any job creation          
activities c>ri$ out ) a grant "u ?is   

section & ! numb] ( jobs creat$ f ^?    
activities2  7#c7 ! p]c5tage (          
individuals t h receiv$ reemploym5t or  
work] transition assi/ance "u ?is       
section :o are1 dur+ ! second & f\r?    
qu>t]s aft] exit+ ! program-- 7,a7 9    
education or tra9+ activities2 or  7,b7 
employ$2  7#d7 ! av]age wages (         
individuals t h receiv$ reemploym5t or  
work] transition assi/ance "u ?is       
section dur+ ! second & f\r? qu>t]s aft]
 exit f ! program2  7#e7 a description (
 any regional inve/m5t activities c>ri$ 
out ) a grant "u ?is section2  7#f7 a   
description ( any export promotion      
activities c>ri$ out ) a grant "u ?is   
section1 includ+-- 7,a7 a description ( 
! products promot$2 &  7,b7 an analysis 
( any increase 9 exports z a result ( ! 
promotion2  7#g7 a description ( any    
resili5ce activities c>ri$ out ) a grant
 "u ?is section2 &  7#h7 a description (
 any cleanup activities f fossil fuel   
indu/ry facilities or c>bon-int5sive    
indu/ries c>ri$ out ) a grant "u ?is    

section4  7g7 ,fund+  7#a7 ,initial     
fund+  7,a7 ,9 g5]al ,!re is appropriat$
 to ! ,secret>y1 out ( any funds 9 !    
,treasury n o!rwise appropriat$1        
#e1jjj1jjj1jjj = ea* ( fiscal ye>s #bjba
 & #bjbb to c>ry out ?is section1 to    
rema9 available until exp5d$4  7,b7     
,additional fund+ ,if1 pursuant to      
section #dfib7;g7 ( ! ,int]nal ,rev5ue  
,code ( #aihf 7z add$ by section #c71 ! 
c>bon fee has be5 r$uc$ to z]o = cal5d> 
ye> #bjbb1 !re is appropriat$ to c>ry   
out ?is section1 out ( any funds 9 !    
,treasury n o!rwise appropriat$1        
#e1jjj1jjj1jjj = fiscal ye> #bjbc1 to   
rema9 available until exp5d$4  7#b7     
,am]ica's ,clean ,future ,fund ,!       
,secret>y %all c>ry out ?is section us+ 
am\nts made available f ! ,am]ica's     
,clean ,future ,fund "u section #d4  #h4
 ,/udy on c>bon pric+  7a7 ,9 g5]al ,n  
lat] ?an ,janu>y #a1 #bjbd1 !           
,adm9i/rator ( ! ,environm5tal          
,protection ,ag5cy 7ref]r$ to 9 ?is     
section z ! ,adm9i/rator7 %all seek to  

ent] into an agreem5t ) ! ,national     
,academy ( ,sci5ces "u :i* ! ,national  
,academy ( ,sci5ces %all c>ry out a /udy
 n less frequ5tly ?an once e #e ye>s to 
evaluate ! effectiv5ess ( ! fees        
e/abli%$ "u sections #dfib & #dfic ( !  
,int]nal ,rev5ue ,code ( #aihf 9 a*iev+ 
! foll[+ goals3 7#a7 ,a net r$uction (  
gre5h\se gas emissions by #de p]c5t1    
bas$ on #bjah levels1 by #bjcj4  7#b7 ,a
 net r$uction ( gre5h\se gas emissions  
by #ajj p]c5t1 bas$ on #bjah levels1 by 
#bjej4  7b7 ,requirem5ts ,9 execut+ !   
agreem5t "u subsection 7a71 !           
,adm9i/rator %all ensure t1 9 c>ry+ out 
a /udy "u t subsection1 ! ,national     
,academy ( ,sci5ces-- 7#a7 includes an  
evaluation (-- 7,a7 total annual        
gre5h\se gas emissions by ! ,unit$      
,/ates1 includ+ gre5h\se gas emissions n
 subject to ! fees describ$ 9 t         
subsection2 &  7,b7 ! hi/oric tr5ds 9 ! 
total gre5h\se gas emissions evaluat$ "u
 subp>agraph 7,a72  7#b7 analyzes !     
ext5t to :i* gre5h\se gas emissions h   

be5 or w\ld be r$uc$ z a result ( curr5t
 & pot5tial future policies1 includ+--  
7,a7 a projection ( gre5h\se gas        
emissions r$uctions t w\ld result if !  
regulations ( ! ,adm9i/rator 7 to be    
adju/$ to impose /rict] limits on       
gre5h\se gas emissions ?an ! goals      
describ$ 9 t subsection1 ) a p>ticul>   
focus on gre5h\se gas emissions n       
subject to ! fees describ$ 9 t          
subsection2  7,b7 ! /atus ( gre5h\se gas
 emissions r$uctions t result f fees    
*>g$ "u sections #dfib & #dfic ( !      
,int]nal ,rev5ue ,code ( #aihf2  7,c7 a 
projection ( gre5h\se gas emissions     
r$uctions t w\ld result if fees *>g$ "u 
su* sections 7 annually increas$-- 7i7  
at ! curr5t price pa?2 &  7ii7 above !  
curr5t price pa?2  7,d7 an analysis (   
gre5h\se gas emissions r$uctions t      
result f ! policies ( ,/ates1 units (   
local gov]nm5t1 ,tribal communities1 & !
 private sector2  7,e7 a projection (   
gre5h\se gas emissions r$uctions t w\ld 
result f ! promulgation ( additional    

,f$]al climate policies1 includ+ a clean
 en]gy /&>d1 increas$ fuel economy &    
gre5h\se gas emissions /&>ds = motor    
vehicles1 a l[-c>bon fuel /&>d1         
electrification ( c>s & heavy-duty      
trucks1 & re=e/ation ( n less ?an       
#c1jjj1jjj acres ( l& )9 ! ,national    
,=e/ ,sy/em2 &  7,f7 ! /atus &          
projections ( dec>bonization 9 o!r major
 economies2 &  7#c7 submits a report to 
! ,adm9i/rator1 ,congress1 & ! ,bo>d (  
,directors ( ! ,climate ,*ange ,f9ance  
,corporation describ+ ! results ( !     
/udy4  #i4 ,effective date ,! am5dm5ts  
made by ?is ,act %all apply to any      
cal5d> ye> beg9n+ aft] ,decemb] #ca1    
#bjba4