,,ii  #aah? ,,congress  #b;d ,session   
,s4 #ejdg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #ab1         
#bjbd,mr4 ,:iteh\se 7= himself1 ,mr4    
,van ,holl51 ,mr4 ,wel*1 ,mr4 ,padilla1 
,ms4 ,w>r51 ,mr4 ,he9ri*1 ,mr4 ,s*atz1 &
 ,mr4 ,m>key7 introduc$ ! foll[+ bill2  
:i* 0 read twice & ref]r$ to !          
,committee on ! ,budget  ,a ,,bill  ,to 
require c>bon scor+ by ! ,congressional 
,budget ,(fice4  #a4 ,%ort title ,?is   
,act may be cit$ z ! ,c>bon ,scor+ ,act 
( #bjbd4  #b4 ,f9d+s ,congress f9ds !   
foll[+3 7#a7 ,! function ( !            
,congressional ,budget ,(fice is to     
provide ! ,committee on ! ,budget ( !   
,s5ate & ! ,committee on ! ,budget ( !  
,h\se ( ,repres5tatives ) in=mation on  
budget au?ority1 outlays1 rev5ues1 &    
*ang+ conditions t might impact ! ,f$]al
 budget & ! legislative activities (    
,congress4  7#b7 ,un=ese5 economic      
%ocks1 su* z ! #bjjh mortgage crisis & !
 ,,covid-#ai p&emic1 h contribut$       
greatly to ! public debt ( ! ,f$]al     

,gov]nm5t4  7#c7 ,climate *ange poses   
sy/emic risks to ! f9ancial sy/em ( !   
,unit$ ,/ates4  7#d7 ,! increas$ sev]ity
 & frequ5cy ( extreme wea!r ev5ts caus$ 
by climate *ange co/s ! ,unit$ ,/ates   
economy an e/imat$ #aej1jjj1jjj1jjj e   
ye>1 & ! co/ is gr[+4  7#e7 ,pr$ict$    
economic %ocks f climate *ange c\ld co/ 
! economy ( ! ,unit$ ,/ates             
#ad1ejj1jjj1jjj1jjj ov] ! next #ej ye>s1
 r$uce ! gross dome/ic product ( !      
,unit$ ,/ates by #aj p]c5t by ! end ( ! 
c5tury1 & add trillions ( doll>s to !   
public debt ( ! ,f$]al ,gov]nm5t4  7#f7 
,curr5t damages associat$ ) climate     
*ange are /ra9+ ! ,f$]al budget & /ra9+ 
insurance & home mortgage m>kets f      
,cali=nia to ,florida4  7#g7 ,!         
exac]bation ( extreme wea!r1 dr\ght1 &  
w>m+ is und]m9+ agricultural yields1 !  
durability ( infra/ructure1 & supply *a9
 reliability1 all ( :i* contribute to   
ris+ consum] prices4  7#h7 ,policies t  
limit gre5h\se gas emissions c\ld (f]   
long-t]m sav+s = ! ,f$]al budget4  #c4  

,gre5h\se gas emissions model+ capacity 
& report+  7a7 ,9 g5]al ,section #bjb ( 
! ,congressional ,budget ,act ( #aigd   
7#b ,u4,s4,c4 #fjb7 is am5d$ by add+ at 
! end ! foll[+3  7h7 ,gre5h\se gas      
emissions model+  7#a7 ,def9itions ,9   
?is subsection3 7,a7 ,director ,! t]m   
,director means ! ,director ( !         
,congressional ,budget ,(fice4  7,b7    
,gre5h\se gas ,! t]m gre5h\se gas has ! 
mean+ giv5 t t]m 9 section #baa7o77#a7 (
 ! ,clean ,air ,act 7#db ,u4,s4,c4      
#gede7o77#a774  7#b7 ,e/abli%+ an       
emissions model+ capacity  7,a7 ,9 g5]al
 ,! ,director %all prep>e & ma9ta9      
economic models t c provide e/imates ( !
 effect ( v>i\s policies on gre5h\se gas
 emissions-- 7i7 = ! p[] sector1 by n   
lat] ?an #a ye> aft] ! date ( enactm5t (
 ! ,c>bon ,scor+ ,act ( #bjbd2  7ii7 =  
transportation1 by n lat] ?an ,janu>y   
#a1 #bjbf2  7iii7 = indu/ry1 by n lat]  
?an ,janu>y #a1 #bjbh2  7iv7 = build+s1 
by n lat] ?an ,janu>y #a1 #bjcj2 &  7v7 
= all o!r emitt+ sectors1 z soon z is   

practicable4  7,b7 ,annual reports ,n   
lat] ?an ,decemb] #ca1 #bjbe1 & ,decemb]
 #ca ( ea* ye> !reaft]1 ! ,director %all
 publi% a report t-- 7i7 provides an    
ov]view ( ! gre5h\se gas emissions      
model+ capabilities ( ! ,congressional  
,budget ,(fice2  7ii7 discusses any     
updates made to models relat$ to !      
gre5h\se gas emissions e/imat+ function 
( ! ,congressional ,budget ,(fice2 &    
7iii7 discusses h[ any updates made to  
models affect ! emissions basel9e       
requir$ "u p>agraph 7#c74  7,c7 ,ongo+  
improvem5t ,! ,director %all "w to      
cont9ually improve ! accuracy &         
granul>ity ( ! economic models describ$ 
9 subp>agraph 7,a74  7,d7 ,exi/+ ,f$]al 
res\rces ,9 prep>+ economic models "u   
?is p>agraph1 ! ,director may1 :]e      
applicable1 consid] us+ model+ res\rces 
develop$ by ! ,f$]al ,gov]nm5t1 su* z ! 
,national ,en]gy ,model+ ,sy/em publi%$ 
by ! ,en]gy ,in=mation ,adm9i/ration4   
7#c7 ,emissions basel9e ,n lat] ?an     
,febru>y #ae1 #bjbe1 & ,febru>y #ae (   

ea* ye> !reaft]1 ! ,director %all       
develop & publi% a detail$ e/imate (    
gre5h\se gas emissions 9 ! ,unit$ ,/ates
 dur+ ! ye> dur+ :i* ! report is issu$ &
 ea* fiscal ye> !reaft] ?r\gh ! la/     
fiscal ye> cov]$ by ! mo/ rec5t basel9e 
prep>$ 9 accordance ) section #beg1 bas$
 on laws enact$ ?r\gh ! date ( ! report 
& tak+ into acc\nt project$ economic    
factors4  7#d7 ,prioritization (        
gre5h\se gasses ,= purposes ( economic  
models1 emissions basel9es1 & gre5h\se  
gas emissions e/imates "u p>agraphs 7#b7
 & 7#c7 ( ?is subsection & section      
#djb;,a1 ! ,director-- 7,a7 %all make   
be/ ef=ts to consid] all gre5h\se gas   
emissions = any economic model1         
emissions basel9e1 or gre5h\se gas      
emissions e/imate prep>$ on or aft] !   
date ( enactm5t ( ! ,c>bon ,scor+ ,act (
 #bjbd2 &  7,b7 %all consid]-- 7i7 c>bon
 dioxide = any economic model1 emissions
 basel9e1 or gre5h\se gas emissions     
e/imate prep>$ on or aft] ! date (      
enactm5t ( ! ,c>bon ,scor+ ,act ( #bjbd2

  7ii7 me?ane = any economic model1     
emissions basel9e1 or gre5h\se gas      
emissions e/imate prep>$ on or aft]     
,janu>y #a1 #bjbg2 &  7iii7 all gre5h\se
 gas emissions = any economic model1    
emissions basel9e1 or gre5h\se gas      
emissions e/imate prep>$ on or aft]     
,janu>y #a1 #bjcj4  4  7b7 ,emissions   
e/imates by ,congressional ,budget      
,(fice  7#a7 ,9 g5]al ,title ,,iv ( !   
,congressional ,budget ,act ( #aigd 7#b 
,u4,s4,c4 #fea et seq47 is am5d$ by     
ins]t+ aft] section #djb ! foll[+3      
#djb;,a4 ,emissions e/imates by         
,congressional ,budget ,(fice  7a7      
,def9itions ,9 ?is section3 7#a7        
,director ,! t]m ,director means !      
,director ( ! ,congressional ,budget    
,(fice4  7#b7 ,emissions basel9e ,! t]m 
emissions basel9e means an e/imate (    
gre5h\se gas emissions prep>$ "u section
 #bjb7;h77#c74  7#c7 ,gre5h\se gas ,!   
t]m gre5h\se gas has ! mean+ giv5 t t]m 
9 section #baa7o77#a7 ( ! ,clean ,air   
,act 7#db ,u4,s4,c4 #gede7o77#a774  7#d7

 ,gre5h\se gas-relat$ provision ,! t]m  
gre5h\se gas-relat$ provision means a   
provision t meets any ( ! foll[+        
conditions3 7,a7 ,creates1 raises1 or   
l[]s a tax or tax cr$it on any aspect ( 
fuel production or usage1 p[] production
 or usage1 ! emission or capture ( a    
gre5h\se gas1 or a te*nology or a direct
 alt]native to a te*nology t uses fuel4 
7,b7 ,o!rwise assigns a doll> value to !
 emission ( a gre5h\se gas or to ! sale 
or use ( a product ^: combu/ion or      
leakage leads to an emission ( a        
gre5h\se gas4  7,c7 ,sets a p]=mance    
/&>d or cap bas$ on-- 7i7 ! emission ( a
 gre5h\se gas2 or  7ii7 ! use ( a       
product-- 7,i7 t directly emits gre5h\se
 gases2 or  7,,ii7 ^: combu/ion1        
leakage1 or degradation leads to an     
emission ( a gre5h\se gas4  7#e7        
,relevant committees ,! t]m relevant    
committees means ! ,committee on !      
,budget ( ! ,s5ate1 ! ,committee on !   
,budget ( ! ,h\se ( ,repres5tatives1 !  
committee ( ! ,s5ate ) jurisdiction ( ! 

relevant bill or jo9t resolution1 & !   
committee ( ! ,h\se ( ,repres5tatives ) 
prim>y jurisdiction ( ! relevant bill or
 jo9t resolution4  7#f7 ,significant    
budget>y effect ,! t]m significant      
budget>y effect1 ) respect to a bill or 
jo9t resolution1 means t ! ,director    
e/imates ! bill or jo9t resolution w    
increase or decrease annual outlays or  
rev5ues by n less ?an #ejj1jjj1jjj 9 any
 fiscal ye> cov]$ by ! mo/ rec5t basel9e
 "u section #beg4  7#g7 ,social co/ ( a 
gre5h\se gas ,! t]m social co/ ( a      
gre5h\se gas means ! monet>y value ( !  
net h>m to society f emitt+ a metric ton
 ( a gre5h\se gas into ! atmosph]e 9 a  
giv5 ye>1 z det]m9$ by ! ,director bas$ 
on ! be/ & mo/ rec5t sci5ce t1 = c>bon  
dioxide1 me?ane1 & nitr\s oxide1 is n   
less ?an ! am\nts li/$ = ^? gases us+ a 
ne>-t]m ,ramsey disc\nt rate ( #b p]c5t 
9 ! report ( ! ,environm5tal ,protection
 ,ag5cy entitl$ ,report on ! ,social    
,co/ ( ,gre5h\se ,gases3 ,e/imates      
,incorporat+ ,rec5t ,sci5tific          

,advances1 dat$ ,novemb] #bjbc4  7b7    
,e/imates  7#a7 ,9 g5]al ,to ! ext5t    
practicable1 ! ,director %all prep>e &  
submit to ! relevant committees a       
gre5h\se gas emissions e/imate ) respect
 to any bill or jo9t resolution ord]$   
report$ by a committee ( ! ,s5ate or !  
,h\se ( ,repres5tatives-- 7,a7 t-- 7i7  
w\ld h a significant budget>y effect2 & 
7ii7 conta9s #a or m gre5h\se gas-relat$
 provisions2 or  7,b7 = :i* ! ,director 
previ\sly e/imat$ ! effects ( ! gre5h\se
 gas-relat$ provisions ( ! bill or jo9t 
resolution4  7#b7 ,cont5ts ,a gre5h\se  
gas emissions e/imate "u p>agraph 7#a7 )
 respect to a bill or jo9t resolution   
%all-- 7,a7 provide an e/imate ( !      
effects ( ea* gre5h\se gas-relat$       
provision 9 ! bill or jo9t resolution on
 gre5h\se gas emissions ) respect to !  
ye> dur+ :i* ! gre5h\se gas-relat$      
provision takes effect & ea* fiscal ye> 
cov]$ by ! mo/ rec5t emissions basel9e1 
includ+ an e/imate ( ! *ange 9 gre5h\se 
gas emissions relative to ! mo/ rec5t   

emissions basel9e2  7,b7 provide an     
e/imate ( ! climate-relat$ co/s or sav+s
 ( ea* gre5h\se gas-relat$ provision 9 !
 bill or jo9t resolution1 :i* %all be   
calculat$ z ! sum ( ! products obta9$ by
 multiply+ ! *ange 9 ! emission ( ea*   
gre5h\se gas relative to ! mo/ rec5t    
emissions basel9e1 z describ$ 9         
subp>agraph 7,a71 by ! social co/ ( !   
gre5h\se gas dur+ ! ye> ( ! *ange2  7,c7
 include comm5t>y on ! expect$ effects (
 ! gre5h\se gas-relat$ provisions on    
gre5h\se gas emissions aft] ! end ( !   
p]iod describ$ 9 subp>agraph 7,a72 &    
7,d7 include comm5t>y1 to ! ext5t       
practicable1 on ! effects ( ! gre5h\se  
gas-relat$ provisions on global gre5h\se
 gas emissions4  7#c7 ,inclusion 9      
report ,if ! ,director timely submits to
 a committee ( ! ,s5ate or ! ,h\se (    
,repres5tatives e/imates & comm5t>y "u  
?is subsection ) respect to a bill or   
jo9t resolution conta9+ #a or m gre5h\se
 gas-relat$ provisions1 ! committee %all
 include ! e/imates & comm5t>y 9 !      

report accompany+ ! bill or jo9t        
resolution1 if ! committee submits su* a
 report4  7#d7 ,e/imates reg>d+ o!r     
legislative provisions ,to ! ext5t      
practicable1 ^u a reque/ by ! ,*airman (
 ! ,committee on ! ,budget ( ! ,s5ate or
 ! ,committee on ! ,budget ( ! ,h\se (  
,repres5tatives1 ! ,director %all publi%
 a gre5h\se gas emissions e/imate 9     
accordance ) ?is subsection ) respect to
 any legislative provision4  7#e7       
,e/imates :ile develop+ models ,if !    
,director det]m9es t a report$ bill or  
jo9t resolution = :i* a report is       
requir$ "u p>agraph 7#a7 conta9s #a or m
 gre5h\se gas-relat$ provisions t       
prim>ily affect ! gre5h\se gas emissions
 ( a sector = :i* ! ,director has n yet 
develop$ an economic model "u section   
#bjb7;h77#b71 ! ,director %all-- 7,a7   
omit ^? gre5h\se gas-relat$ provisions f
 ! gre5h\se gas emissions e/imate ( !   
,director2  7,b7 indicate 9 ! gre5h\se  
gas emissions e/imate t ! ,director made
 t det]m9ation2 &  7,c7 include 9 !     

gre5h\se gas emissions e/imate ! reasons
 = t det]m9ation4  7c7 ,m&atory         
appropriation ,9 addition to am\nts     
o!rwise made available to ! ,director1  
!re are appropriat$ = ea* ( fiscal ye>s 
#bjbe ?r\gh #bjcd to ! ,director1 out ( 
any money 9 ! ,treasury n o!rwise       
appropriat$1 #bj1jjj1jjj to c>ry out ?is
 section & section #bjb7;h74 ,am\nts    
appropriat$ "u ?is subsection %all rema9
 available until exp5d$4  4  7#b7       
,con=m+ am5dm5t ,! table ( cont5ts 9    
section #a7;b7 ( ! ,congressional       
,budget & ,imp\ndm5t ,control ,act (    
#aigd is am5d$ by ins]t+ aft] ! item    
relat+ to section #djb ! foll[+3  ,sec4 
#djb;,a4 ,emissions e/imates by         
,congressional ,budget ,(fice4  4