Legislation Comparison Report: APA

Report of America's Power Act generated via script May 20, 2010. All lines below are from APA - lines boxed in are the "equivalent" match from S1733, where matchable. Direct questions to nick at the site enviroconsumer.com

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DISCUSSION DRAFTTH CONGRESSD SESSION S. llTo secure the energy future of the United States, to provide incentivesfor the domestic production of clean energy technology, to achieve meaningfulpollution reductions, to create jobs, and for other purposes.IN THE SENATE OF THE UNITED STATESllllllllllllllllllll introduced the following bill; which was read twiceand referred to the Committee on llllllllllA BILLTo secure the energy future of the United States, to provideincentives for the domestic production of clean energytechnology, to achieve meaningful pollution reductions,to create jobs, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

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Section 1. SHORT TITLE; TABLE OF CONTENTS.

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(a) SHORT TITLE.—This Act may be cited as the ‘‘Clean Energy Jobs and American Power Act’’.

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(b) TABLE OF CONTENTS.—The table of contents of this Act is as follows:

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Sec. 1. Short title; table of contents.

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Sec. 2. Findings.

Sec. 1001. Statement of policy.PART I—ENCOURAGING DOMESTIC NUCLEAR POWER GENERATION

Sec. 1105. Permits and licenses; hearings and judicial review; adjudicatoryhearing.

Sec. 1109. Environmental reviews for nuclear energy projects.PART II—EXTENSION OF DUTY SUSPENSION FOR CERTAIN NUCLEARPARTS

Sec. 1111. Suspension of duty on certain components used in nuclear facilities.PART III—TAX PROVISIONS

Sec. 1122. Investment tax credit for nuclear power facilities.‘‘Sec. 48E. Nuclear power facility construction credit.

Sec. 1123. Inclusion of nuclear power facilities in qualifying advanced energyproject credit.

Sec. 1124. Modification of credit for production from advanced nuclear powerfacilities.

Sec. 1125. Treatment of qualified public entities with respect to private activitybonds.

Sec. 1126. Grants for qualified nuclear power facility expenditures in lieu of taxcredits.Subtitle B—Offshore Oil and Gas

Sec. 1202. Revenue sharing from outer Continental Shelf areas in certaincoastal States.

Sec. 1205. Impact studies.Subtitle C—CoalPART I—NATIONAL STRATEGY FOR CARBON CAPTURE AND SEQUESTRATION

Sec. 1402. Studies and reports.PART II—CARBON CAPTURE AND SEQUESTRATION DEPLOYMENT

Sec. 1412. Special funding program for development and deployment of carboncapture, sequestration, and conversion technologies.

Sec. 1420. Recovery of costs.PART III—COMMERCIAL DEPLOYMENT OF CARBON CAPTURE ANDSEQUESTRATION TECHNOLOGIES

Sec. 1431. Commercial deployment of carbon capture and permanent sequestrationtechnologies.‘‘Sec. 794. Commercial deployment of carbon capture and permanent sequestrationtechnologies.

Sec. 1432. Carbon capture and sequestration deployment studies.‘‘Sec. 789. Carbon capture and sequestration deployment studies.PART IV—PERFORMANCE STANDARDS

Sec. 1441. Performance standards for coal-fired power plants.‘‘TITLE VIII—GREENHOUSE GAS STANDARDS‘‘Sec. 800. Definitions.‘‘Sec. 801. Performance standards for new coal-fired power plants.‘‘Sec. 802. Coal-fueled fleet transition program.Subtitle D—Renewable Energy and Energy Efficiency

Sec. 1602. Rural energy savings program.‘‘Sec. 366. Rural energy savings program.

Sec. 1604. Voluntary renewable energy markets.Subtitle E—Clean TransportationPART I—ELECTRIC VEHICLE INFRASTRUCTURE

Sec. 1701. National transportation low-emission energy plan; pilot program.PART II—TRANSPORTATION EFFICIENCY

Sec. 1711. Greenhouse gas emission reductions through transportation efficiency.‘‘Sec. 803. Greenhouse gas emission reductions through transportation efficiency.

Sec. 1712. Investing in transportation greenhouse gas emission reduction programs.PART III—HIGHWAY TRUST FUND

Sec. 1721. Augmenting the Highway Trust Fund.‘‘Sec. 785. Highway Trust Fund.Subtitle F—Clean Energy Research and Development

TITLE II—GREENHOUSE GAS POLLUTION REDUCTIONSubtitle A—Reducing Greenhouse Gas Pollution

Sec. 2001. Reducing greenhouse gas pollution.‘‘TITLE VII—GREENHOUSE GAS POLLUTION REDUCTION ANDINVESTMENT PROGRAM‘‘PART A—GREENHOUSE GAS POLLUTION REDUCTION TARGETS‘‘Sec. 701. Findings.‘‘Sec. 702. Economy-wide reduction goals.‘‘Sec. 703. Reduction targets for specified sources.‘‘Sec. 704. Supplemental pollution reductions.‘‘Sec. 705. Review and program recommendations.‘‘PART B—DESIGNATION AND REGISTRATION OF GREENHOUSE GASES‘‘Sec. 711. Designation of greenhouse gases.‘‘Sec. 712. Carbon dioxide equivalent value of greenhouse gases.‘‘Sec. 713. Greenhouse gas registry.‘‘Sec. 714. Perfluorocarbon and other nonhydrofluorocarbon fluorinatedsubstance production regulation.‘‘PART C—PROGRAM RULES‘‘Sec. 721. Emission allowances.‘‘Sec. 722. Prohibition of excess emissions.‘‘Sec. 723. Penalty for noncompliance.‘‘Sec. 724. Trading.‘‘Sec. 725. Banking and borrowing.‘‘Sec. 726. Cost Containment Reserve.‘‘Sec. 727. Permits.‘‘Sec. 728. International emission allowances.‘‘Sec. 729. Compliance for transportation fuels and refined petroleumproducts.‘‘Sec. 730. Regulations.‘‘PART D—OFFSET CREDIT PROGRAM FOR DOMESTIC EMISSIONREDUCTIONS‘‘Sec. 731. Definitions.‘‘Sec. 732. Advisory committee.‘‘Sec. 733. Establishment of domestic offsets program.‘‘Sec. 734. Eligible projects.‘‘Sec. 735. Requirements for offset projects.‘‘Sec. 736. Approval of offset projects.‘‘Sec. 737. Verification of offset projects.‘‘Sec. 738. Issuance of offset credits.‘‘Sec. 739. Audits and reviews.‘‘Sec. 740. Early offset supply.‘‘Sec. 741. Productivity study; program review and revision.‘‘Sec. 742. Additional regulatory standards for emission reductions.‘‘PART E—OFFSET CREDIT PROGRAM FOR INTERNATIONAL EMISSIONREDUCTIONS‘‘Sec. 751. Definitions.‘‘Sec. 752. International Offsets Integrity Advisory Committee.‘‘Sec. 753. Establishment of international offsets program.‘‘Sec. 754. Eligible project types.‘‘Sec. 755. Requirements for international offset projects.‘‘Sec. 756. Categories of international offset credits.‘‘Sec. 757. Approval of offset projects.‘‘Sec. 758. Verification of offset projects.‘‘Sec. 759. Issuance of offset credits.‘‘Sec. 760. Audits.‘‘Sec. 761. Program review and revision.‘‘Sec. 762. Environmental considerations.‘‘Sec. 763. Incorporation by reference.

Sec. 2002. Definitions.‘‘Sec. 700. Definitions.Subtitle B—Disposition of Allowances

Sec. 2101. Disposition of allowances for global warming pollution reductionprogram.‘‘PART G—DISPOSITION OF ALLOWANCES‘‘Sec. 781. Allocation of emission allowances.‘‘Sec. 786. Exchange for State allowances.‘‘Sec. 787. Deficit Reduction Fund.‘‘Sec. 788. Early action recognition.‘‘Sec. 790. Auction procedures.‘‘Sec. 791. Auctioning allowances for other entities.‘‘Sec. 792. Oversight of allocations and auction proceeds.‘‘Sec. 793. Protection of affected parties.‘‘Sec. 797. Presidential determination.‘‘Sec. 798. Merchant generator efficiency incentive.Subtitle C—Achieving Fast MitigationPART I—HYDROFLUOROCARBONS

Sec. 2201. Hydrofluorocarbons.‘‘Sec. 619. Hydrofluorocarbons.PART II—BLACK CARBON

Sec. 2211. Report on black carbon sources, impacts, and reduction opportunities.

Sec. 2213. Black carbon reduction retrofit grant program.‘‘Sec. 795. Black carbon reduction retrofit grant program.

Sec. 2221. Sense of the Senate on international methane.PART IV—STUDY ON FAST MITIGATION STRATEGIES

Sec. 2231. Interagency study on fast mitigation strategies.Subtitle D—Ensuring Regulatory Predictability for Greenhouse Gases

Sec. 2409. Registration for regulated greenhouse gas market participants andcompliance entities.‘‘Sec. 4r. Registration for regulated greenhouse gas market participantsand compliance entities.

Sec. 2410. Greenhouse gas instrument trading organizations.‘‘Sec. 5h. Greenhouse gas instrument trading organizations.

Sec. 2411. Greenhouse gas clearing organizations.‘‘Sec. 5b–1. Greenhouse gas clearing organizations.

Sec. 2412. Greenhouse gas allowance short sales.‘‘Sec. 5i. Short sale transactions.

Sec. 2413. Greenhouse gas market emergency and suspension authority.‘‘Sec. 8e. Greenhouse gas market emergency and suspension authority.

Sec. 2501. Miscellaneous.‘‘Sec. 806. State programs.‘‘Sec. 807. Forestry sector greenhouse gas accounting.‘‘Sec. 808. Studies on impacts of renewable biomass use.‘‘Sec. 809. Review of definition of renewable biomass.

TITLE III—CONSUMER PROTECTIONSubtitle A—Investing in Low-carbon Electricity and Energy Efficiency forConsumer Protection

Sec. 3001. Electricity consumers.‘‘Sec. 782. Electricity consumers.Subtitle B—Investing in Low-carbon Heating and Energy Efficiency forConsumer Protection

Sec. 3102. Home heating oil and propane consumers.‘‘Sec. 784. Home heating oil and propane consumers.Subtitle C—Consumer Relief

Sec. 3202. Refundable credit for working families relief.‘‘Sec. 36D. Working families relief.

Sec. 3204. Energy refund program.‘‘TITLE XXII—ENERGY REFUND PROGRAM‘‘Sec. 2201. Energy refund program.

Sec. 3207. Universal refund.‘‘Sec. 36E. Universal refund.Subtitle D—Advocating for Consumers

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Sec. 151. Office of Consumer Advocacy.

TITLE IV—JOB PROTECTION AND GROWTHSubtitle A—Protecting American Manufacturing Jobs and Preventing CarbonLeakage

Sec. 4001. Ensuring real reductions in industrial emissions.‘‘PART F—ENSURING REAL REDUCTIONS IN INDUSTRIAL EMISSIONS‘‘Sec. 771. Purposes.‘‘Sec. 772. Definitions.‘‘SUBPART 1—EMISSION ALLOWANCE REBATE PROGRAM‘‘Sec. 773. Eligible industrial sectors.‘‘Sec. 774. Distribution of emission allowance rebates.‘‘SUBPART 2—PROMOTING INTERNATIONAL REDUCTIONS IN INDUSTRIALEMISSIONS‘‘Sec. 775. International negotiations.‘‘Sec. 776. Presidential reports and determinations.‘‘Sec. 777. International reserve allowance program.‘‘Sec. 778. Iron and steel sector.

Sec. 4004. Report on the utilization of tax incentives.Subtitle B—Clean Energy Technology and JobsPART I—CLEAN ENERGY CAREER DEVELOPMENT

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Sec. 301. Clean energy curriculum development grants.

Sec. 4102. Development of information and resources clearinghouse for vocationaleducation and job training in renewable energy sectors.

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Sec. 302. Development of Information and Resources clearinghouse for vocationaleducation and job training in renewable energy sectors.

Sec. 4103. Clean energy construction careers demonstration project.PART II—TRANSPORTATIONSUBPART A—INVESTING IN CLEAN VEHICLES

Sec. 4111. Investing in clean vehicles.SUBPART B—POWERING VEHICLES WITH NATURAL GAS

Sec. 4123. Incentives for manufacturing facilities producing vehicles fueled bycompressed or liquified natural gas.‘‘Sec. 179F. Expensing for manufacturing facilities producing vehiclesfueled by compressed natural gas or liquified natural gas.

Sec. 4124. Study of increasing natural gas and liquefied petroleum gas vehiclesin Federal fleet.SUBPART C—COMMUNITY INFORMATION

Sec. 4131. Notice of hydraulic fracturing operations.SUBPART D—ADDITIONAL GREENHOUSE GAS STANDARDS

Sec. 4141. Emission standards for mobile sources.‘‘Sec. 804. Greenhouse gas emission standards for mobile sources.PART III—AGRICULTURE

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Sec. 321. Strategic Interagency Board on International Climate Investment.

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Sec. 325. Evaluation and reports.

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Sec. 364. Council on Environmental Quality.

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Sec. 365. Natural Resources Climate Change Adaptation Panel.

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Sec. 366. Natural Resources Climate Change Adaptation Strategy.

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Sec. 367. Natural resources adaptation science and information.

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Sec. 368. Federal natural resource agency adaptation plans.

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Sec. 369. State natural resources adaptation plans.

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Sec. 370. Natural Resources Climate Change Adaptation Account.

Sec. 6009. National Fish and Wildlife Habitat and Corridors Information Program.

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Sec. 371. National Fish and Wildlife Habitat and Corridors Information Program.

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Sec. 2. FINDINGS. Congress finds that—

(1) the United States can take back control of the energy future of the United States, strengthen economic competitiveness, safeguard the health of families and the environment, and ensure the national security of the United States by increasing energy independence;

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(1) the United States can take back control of the energy future of the United States, strengthen economic competitiveness, safeguard the health of families and the environment, and ensure the national security, of the United States by increasing energy independence;

(2) creating a clean energy future requires a comprehensive approach that includes support for the improvement of all energy sources, including coal, natural gas, nuclear power, and renewable generation;

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(3) efficiency in the energy sector also represents a critical avenue to reduce energy consump tion and greenhouse gas, and those benefits can be captured while generating additional savings for consumers;

(4) substantially increasing the investment in the clean energy future of the United States will—

(A) provide economic opportunities to millions of people in the United States; and

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(5) the United States is responsible for many of the initial scientific advances in clean energy technology but, as of September 2009, the United States has only 5 of the top 30 leading companies in solar, wind, and advanced battery technology;

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(5) the United States is responsible for many of the initial scientific advances in clean energy technology, but, as of September 2009, the United States has only 5 of the top 30 leading companies in solar, wind, and advanced battery technology;

(6) investment in the clean energy sector will allow companies in the United States to retake a leadership position, and the jobs created by those investments will significantly accelerate growth in domestic manufacturing;

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(7) those opportunities also will result in substantial employment gains in construction, a sector in which the median hourly wage is 17 percent higher than the national median;

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(7) those opportunities also will result in substantial employment gains in construction, a sector in which the median hourly wage is 17 percent higher than the national median;

(8) those jobs are distributed throughout the United States, and the highest clean energy economy employment growth rates in the last 10 years were in the States of Idaho, Nebraska, Oregon, New Mexico, and South Dakota;

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(9) focusing on clean energy will dramatically reduce pollution and significantly improve the health of families in, and the environment of, the United States;

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(9) focusing on clean energy will dramatically reduce pollution and significantly improve the health of families in and the environment of the United States;

(10) moving to a low-carbon economy must protect the most vulnerable populations in the United States, including low-income families that are particularly affected by volatility in energy prices;

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(10) moving to a low-carbon economy must protect the most vulnerable populations in the United States, including low-income families that are particularly affected by volatility in energy prices;

(11) if unchecked, the impact of climate change will include widespread effects on health and welfare, including—

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(11) if unchecked, the impact of climate change will include widespread effects on health and welfare, including—

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(A) increased outbreaks from waterborne diseases;

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(B) more droughts;

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(D) severe storms and floods;

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(E) heat waves;

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(F) wildfires; and

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(G) a substantial rise in sea levels, due in part to—

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(i) melting mountain glaciers;

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(ii) shrinking sea ice; and

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(iii) thawing permafrost;

(12) the most recent science indicates that the changes described in paragraph (11)(G) are occurring faster and with greater intensity than expected;

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(12) the most recent science indicates that the changes described in paragraph (11)(G) are occurring faster and with greater intensity than expected;

(13) military officials, including retired admirals and generals, concur with the intelligence community that climate change—

(14) massive portions of the infrastructure of the United States, including critical military infrastructure, are at risk from the effects of climate change;

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(14) massive portions of the infrastructure of the United States, including critical military infrastructure, are at risk from the effects of climate change;

(15) impacts are already being felt in local communities within the United States, as well as by atrisk populations abroad;

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(15) impacts are already being felt in local communities within the United States as well as by atrisk populations abroad;

(16) the Copenhagen Accord, which builds on the agreements reached in the Bali Action Plan developed under the United Nations Framework Convention on Climate Change done at New York on May 19, 1992, recognizes the need to limit the increase in global average temperatures to within 2 de grees Centigrade as a necessary step to prevent the catastrophic consequences of climate change; and

(B) reaching a robust international agreement to address climate change under the United Nations Framework Convention on Climate Change, done at New York on May 9, 1992 (or a successor agreement).

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(2) to encourage those countries to shift toward low-carbon development, and promote a successful global agreement under the United Nations Framework Convention on Climate Change, done at New York on May 9, 1992 (or a successor agreement)

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Sec. 4. DEFINITIONS. In this Act:

(1) ADMINISTRATOR.—The term ‘‘Administrator’’ means the Administrator of the Environmental Protection Agency.

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(1) ADMINISTRATOR.—The term ‘‘Administrator’’ means the Administrator of the Environmental Protection Agency.

(2) DEPARTMENT.—The term ‘‘Department’’ means the Department of Energy.

(3) INDIAN TRIBE.—The term ‘‘Indian tribe’’ has the meaning given the term in section 302 of the Clean Air Act (42 U.S.C. 7602).

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(2) INDIAN TRIBE.—The term ‘‘Indian tribe’’ has the meaning given the term in section 302 of the Clean Air Act (42 U.S.C. 7602).

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(1) SECRETARY.—The term ‘‘Secretary’’ means the Secretary of Energy.

(5) STATE.—The term ‘‘State’’ has the meaning given that term in section 302 of the Clean Air Act (42 U.S.C. 7602).

Sec. 1001. STATEMENT OF POLICY. It is the policy of the United States, given the importance of transitioning to a clean energy, low-carbon economy, to facilitate the continued development and growth of a safe and clean nuclear energy industry, through—

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(b) STATEMENT OF POLICY.—It is the policy of the United States, given the importance of transitioning to a clean energy, low-carbon economy, to facilitate the continued development and growth of a safe and clean nuclear energy industry, through—

(1) reductions in financial and technical barriers to construction and operation; and

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(1) reductions in financial and technical barriers to construction and operation; and

(2) incentives for the growth of safe domestic nuclear and nuclear-related industries. PART I—ENCOURAGING DOMESTIC NUCLEAR POWER GENERATION

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(a) DEFINITIONS.—In this section:

(1) COMMISSION.—The term ‘‘Commission’’ means the Nuclear Regulatory Commission.

(2) EXPEDITED PROCEDURE.—The term ‘‘expedited procedure’’ means an expedited procedure—

(A) for issuing combined construction and operating licenses for qualified new nuclear reactors; and

(1) IN GENERAL.—As soon as practicable after the date of enactment of this Act, the Commission shall establish and implement an expedited procedure for issuing combined construction and operating licenses for qualified new nuclear reactors.

(2) QUALIFICATIONS.—To qualify for the expedited procedure, an applicant shall—

(A) apply for the construction of a nuclear reactor based on a design approved by the Commission;

(B) construct the nuclear reactor on a site at which an operating nuclear power plant exists;

(D) submit to the Commission a complete combined construction and operating license application; and

(E) demonstrate sufficient financial commitment to the project, and a preparedness to proceed in earnest once the combined construction and operating license is issued, as demonstrated by—

(A) IN GENERAL.—Not later than 90 days after the date of enactment of this Act, in accordance with subparagraph (B), the Commission shall submit to the appropriate committees of Congress a report that contains recommendations of the Commission regarding the development and implementation of procedures that would enable the Commission to pursue a transparent, fact-based process in which the Commission would be capable of making, as expeditiously as practicable, decisions based on sound science and engineering.

(B) REQUIREMENTS.—The recommendations to be included in the report under subparagraph (A) shall propose an efficient process that will allow interested parties that have standing to participate in the proceedings to raise legitimate concerns to be heard and resolved without undue delay.

(c) REPORT REGARDING TECHNOLOGY-NEUTRAL PLANT DESIGN SPECIFICATIONS.—Not later than 1 year after the date of enactment of this Act, the Commission shall submit to the appropriate committees of Congress a report that contains an outline of an approach that will enable the Commission to develop technology-neutral guidelines for nuclear plant licensing in the future, which will allow for a more seamless entry of new technologies into the marketplace.

(d) ADDITIONAL FUNDING AND PERSONNEL RESOURCES.—Not later than 90 days after the date of enactment of this Act, the Commission shall submit to Congress a request for such additional funding and personnel resources as are necessary to carry out subsections (b) and

(e) NATIONAL LABORATORY SUPPORT.—Each National Laboratory with expertise in the field of nuclear energy, in coordination with the Commission, shall dedicate personnel for the support of the expedited licensing procedures under subsection (b).

(1) EFFECT OF SECTION.—Nothing in this section supersedes, mitigates, detracts from, or in anyway decreases the ability of the Commission to maintain the highest possible levels of public health and safety standards for nuclear facilities in the United States.

(2) EFFECT OF AUTHORITY PROVIDED BY SECTION.—No authority provided by this section shall be executed in a manner that jeopardizes, minimizes, reduces, or lessens any public health or safety standard.

(a) FUNDING.—The matter under the heading ‘‘TITLE 17 INNOVATIVE TECHNOLOGY LOAN GUARANTEE PROGRAM’’ under the heading ‘‘ENERGY PROGRAMS’’ under the heading ‘‘DEPARTMENT OF ENERGY’’ of

TITLE III of division C of the Omnibus Appropriations Act, 2009 (Public Law 111–8; 123 Stat. 619) is amended, in the matter preceding the first proviso—

(1) by striking ‘‘$47,000,000,000’’ and inserting ‘‘$100,000,000,000’’; and

(2) by striking ‘‘$18,500,000,000’’ and inserting ‘‘$54,000,000,000’’.

(b) LOAN GUARANTEE RETENTION FEE.—Section 1702(h) of the Energy Policy Act of 2005 (42 U.S.C. 16512(h)) is amended—

(A) IN GENERAL.—The Secretary shall charge and collect a loan guarantee retention fee from each advanced nuclear energy facility project described in section 1703(b)(4) to which the Secretary has made a guarantee under subsection (a).

(i) GRACE PERIOD.—The Secretary may not charge or collect a loan guarantee retention fee from a project described in subparagraph (A) until the date that is years after the date on which construction of the project is completed.

(ii) FEE STRUCTURE.—With respect to a project described in subparagraph (A), the rate for the loan guarantee retention fee shall—

(II) for each 1-year period thereafter until the date that is years after the date described in clause (i), be charged at a rate equal to the sum obtained by adding—

(III) for each 1-year period after the date described clause (ii)(II), be charged at a rate equal to 5 percent.’’.

(a) DEFINITIONS.—Section 638(a) of the Energy Policy Act of 2005 (42 U.S.C. 16014(a)) is amended—

(4) FULL POWER OPERATION.—The term ‘full power operation’, with respect to a facility, means the earlier of—

(A) the commercial operation date (or the equivalent under the terms of the financing documents for the facility); and

(B) the date on which the facility achieves operation at an average nameplate capacity of 50 percent or more during any consecutive 30-day period after the completion of startup testing for the facility.

(5) INCREASED PROJECT COSTS.—The term ‘increased project costs’ means the increased cost of constructing, commissioning, testing, operating, or maintaining a reactor prior to full-power operation incurred as a result of a delay covered by the contract, including costs of demobilization and remobilization, increased costs of equipment, materials and labor due to delay (including idle time), increased general and administrative costs, and escalation costs for completing construction.

(B) any administrative proceeding or hearing before a Federal, State, local, or tribal agency or administrative entity.’’.

(b) CONTRACT AUTHORITY.—Section 638(b) of the Energy Policy Act of 2005 (42 U.S.C. 16014(b)) is amended by striking paragraph (1) and inserting the following:

(A) IN GENERAL.—The Secretary may enter into contracts under this section with sponsors of an advanced nuclear facility that cover at any 1 time a total of not more than 12 reactors, which shall consist of not less than 2 nor more than 4 different reactor designs, in accordance with paragraph (2).

(B) REPLACEMENT CONTRACTS.—If any contract entered into under this section terminates or expires without a claim being paid by the Secretary under the contract, the Secretary may enter into a new contract under this section in replacement of the contract.’’.

(c) COVERED COSTS.—Section 638(d) of the Energy Policy Act of 2005 (42. U.S.C. 16014(d)) is amended by striking paragraphs (2) and (3) and inserting the following:

(2) COVERAGE.—In the case of reactors that receive combined licenses and on which construction is commenced, the Secretary shall pay—

(A) 100 percent of the covered costs of delay that occur after the initial 30-day period of covered delay; but

(3) COVERED DEBT OBLIGATIONS.—Debt obligations covered under subparagraph (A) of paragraph (5) shall include debt obligations incurred to pay increased project costs.’’.

(d) DISPUTE RESOLUTION.—Section 638 of the Energy Policy Act of 2005 (42 U.S.C. 16014) is amended—

(1) by redesignating subsections (f) through (h) as subsections (g) through (i), respectively; and

(1) IN GENERAL.—Any controversy or claim arising out of or relating to any contract entered into under this section shall be determined by arbitration in Washington, DC, in accordance with the applicable Commercial Arbitration Rules of the American Arbitration Association.

(2) TREATMENT OF DECISION.—A decision by an arbitrator shall be final and binding, and the United States district court for Washington, DC, or the district in which the project is located shall have jurisdiction to enter judgment on the decision.’’.

(e) REPORTS BY COMMISSIONS.—Section 638 of the Energy Policy Act of 2005 (42 U.S.C. 16014) (as amended by subsection (d)) is amended by striking subsection

(1) QUARTERLY REPORTS.—Effective beginning not later than 90 days after the date of enactment of the American Power Act, the Commission shall submit to the Committee on Appropriations, and the Committee on Energy and Natural Resources, of the Senate and the Committee on Appropriations, and the Committee on Energy and Commerce, of the House of Representatives a quarterly report that—

(A) describes the status of licensing actions associated with each advanced nuclear facility that is being licensed by the Commission, or covered by a contract under this section;

(B) describes the schedules for completion of the licensing actions, including licensing milestones;

(D) describes the quantity of additional personnel, amounts of funds, or other resources that are necessary to ensure that the Commission possesses the capability to review and process licensing applications in a timely manner; and

(E) indicates the steps that will be taken by the Commission to ensure the expeditious review and processing of submitted, complete licensing applications.

(2) BIANNUAL REPORTS.—Effective beginning not later than 90 days after the date of enactment of the American Power Act, the Commission shall submit to the Committee on Appropriations, and the Committee on Energy and Natural Resources, of the Senate and the Committee on Appropriations, and the Committee on Energy and Commerce, of the House of Representatives a biannual report that—

(A) contains recommendations for amendments to existing laws (including regulations) that should be made to help remove barriers to the expeditious review of complete licensing applications; and

(B) describes each action taken or planned to be taken by the Commission to improve the guidance provided by the Commission to license applicants to improve the quality of license applications.’’.

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(a) DEFINITIONS.—In this section:

(1) CENTER OF EXCELLENCE.—The term ‘‘center of excellence’’ means a spent fuel recycling research and development center of excellence designated under subsection (b)(1).

(2) NATIONAL LABORATORY.—The term ‘‘National Laboratory’’ has the meaning given the term in section 2 of the Energy Policy Act of 2005 ( U.S.C. 15801).

(1) IN GENERAL.—Not later than 1 year after the date of enactment of this Act, the Secretary shall designate a National Laboratory as a spent fuel recycling research and development center of excellence.

(A) IN GENERAL.—In accordance with subparagraph (B), the center of excellence shall serve as the lead site for continuing research and development of advanced nuclear fuel cycles and separation technologies.

(B) RESEARCH INITIATIVES.—In carrying out subparagraph (A), the center of excellence shall conduct research initiatives—

(i) to develop technologies that reduce the quantity of waste requiring disposal or storage;

(ii) to ensure adequate protection against the proliferation of nuclear materials that could be used in the manufacture of nuclear weapons; and

(3) SITE SELECTION.—In selecting a center of excellence, the Secretary shall give preference to a site that has—

Sec. 1105. PERMITS AND LICENSES; HEARINGS AND JUDICIAL REVIEW; ADJUDICATORY HEARING.

(a) PERMITS AND LICENSES.—Section 185 b. of the Atomic Energy Act of 1954 (42 U.S.C. 2235 b.) is amended in the first sentence—

(1) by striking ‘‘public hearing’’ and inserting ‘‘hearing’’; and

(2) by inserting ‘‘or if the Commission has determined that no hearing is required to be held under that section,’’ after ‘‘section 189 a. (1)(A),’’.

(b) HEARINGS AND JUDICIAL REVIEW.—Section of the Atomic Energy Act of 1954 (42 U.S.C. 2239) is amended—

(I) by striking ‘‘The Commission’’ and all that follows through ‘‘Federal Register, on’’ and inserting ‘‘On’’;

(II) by inserting ‘‘or an operating license’’ after ‘‘construction permit’’ each place it appears; and

(I) by striking ‘‘In cases’’ and all that follows through ‘‘such a hearing’’;

(II) by striking ‘‘therefor’’ and inserting ‘‘for a hearing’’; and

(III) by striking ‘‘issue an operating license’’ and inserting ‘‘issue a construction permit, an operating license,’’; and

(B) in paragraph (2)(A), in the second sentence, by striking ‘‘required hearing’’ and inserting ‘‘hearing held by the Commission under this section’’; and

(2) in subsection b. (2), by striking ‘‘to begin operating’’ and inserting ‘‘to operate’’.

(1) in paragraph (1), by striking ‘‘on the record’’ and all that follows through ‘‘and 63’’ and inserting ‘‘if a person the interest of whom may be affected by the construction and operation of a uranium enrichment facility under sections 53 and has requested a hearing regarding the licensing of the construction and operation of the facility’’; and

(2) in paragraph (2), by striking ‘‘Such hearing’’ and inserting ‘‘If a hearing is held under paragraph (1), the hearing’’.

(d) APPLICABILITY.—The amendments made by this section shall apply with respect to each application and proceeding pending before the Nuclear Regulatory Commission as of the date of enactment of this Act.

Section 201(c) of the Energy Reorganization Act of 1974 (42 U.S.C. 5841(c)) is amended—

(A) IN GENERAL.—Except as provided in subparagraph (B), a member of the Commission may serve on the Commission after the date on which the term of service of the member has expired.

(B) EXCEPTION.—A member of the Commission described in subparagraph (A) may not serve after the earlier of—

(i) the date on which the term of service of the successor of the member of the Commission commences; or

(ii) the date of adjournment of the session of Congress the commencement date of which begins after the date of expiration of the term of service of the member of the Commission.’’.

Section 952(a) of the Energy Policy Act of 2005 ( U.S.C. 16272(a)) is amended—

(2) AUTHORIZED RESEARCH INITIATIVES.—In carrying out the program under this subsection, the Secretary shall conduct research to lower the cost of nuclear reactor systems, including research regarding—

(3) CONSULTATION REQUIREMENT.—In carrying out initiatives under paragraph (2), the Secretary shall consult with—

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(E) the Secretary of Commerce;

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(D) the Secretary of the Treasury;

(A) IN GENERAL.—Not later than days after the date of enactment of this paragraph, the Secretary shall develop and publish on the website of the Department of Energy a schedule that contains an outline of a 5-year strategy to lower effectively the costs of nuclear reactors.

(B) PUBLIC WORKSHOPS.—In developing the schedule under subparagraph (A), the Secretary shall conduct public workshops to provide an opportunity for public comment.

(C) REVIEW.—Before the date on which the Secretary publishes the schedule under subparagraph (A), the Nuclear Energy Advisory Committee shall conduct a review of the schedule.

(i) IN GENERAL.—Not later than 180 days after the date on which the Secretary publishes the schedule under subparagraph (A) and annually thereafter, the Secretary shall update the schedule.

(ii) PUBLIC WORKSHOPS.—In updating the schedule under clause (i), the Secretary shall conduct public workshops in accordance with subparagraph (B).

(5) COST SHARING.—Section 988 shall apply to initiatives carried out under this section.

(6) AUTHORIZATION OF APPROPRIATIONS.— There is authorized to be appropriated to carry out this section $50,000,000 for each of fiscal years 2011 through 2015.’’.

Section 185 b. of the Atomic Energy Act of 1954 ( U.S.C. 2235 b.) is amended by striking the third sentence and inserting the following: ‘‘Following issuance of the combined license, the Commission shall ensure that the prescribed inspections, tests, and analyses have been met.’’.

Section 185 b. of the Atomic Energy Act of 1954 ( U.S.C. 2235 b.) is amended by adding at the end the following:

(1) IN GENERAL.—In a proceeding for a combined construction permit and operating license for a site for which an early site permit has been issued, any environmental impact statement prepared by the Commission and cooperating agencies shall be prepared as a supplement to the environmental impact statement prepared for the early site permit.

(2) INCORPORATION BY REFERENCE.—The supplemental environmental impact statement shall incorporate by reference the analysis, findings, and conclusions from the environmental impact statement prepared for the early site permit, supplementing the discussion, analyses, findings, and conclusions on matters resolved in the early site permit proceeding only to the extent necessary to address information that is—

(B) significant in that the information would materially change the prior findings or conclusions.

(3) REGULATIONS.—Not later than 90 days after the date of enactment of this subsection, the Commission shall initiate rulemaking to amend the regulations of the Commission to implement this subsection.

(4) RELATIONSHIP TO OTHER LAW.—Nothing in this section exempts the Commission from any requirement for full compliance with section 102(2)(C) of the National Environmental Policy Act of

(42 U.S.C. 4332(2)(C)).’’. PART II—EXTENSION OF DUTY SUSPENSION FOR CERTAIN NUCLEAR PARTS

(a) IN GENERAL.—Subchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following:‘‘ 9902.84.15 Watertube boilers with asteam production exceeding t per hour, for use in nuclearfacilities (provided forin subheading 8402.11.00),entered after 12/31/2008 andon or before 12/31/2020, ifthe contract for the purchaseof the watertube boiler wasentered into on or before 12//2010 ................................. Free No change No change On or before/31/2.84.16 Reactor vessels (including reactorvessel heads) for use innuclear facilities (providedfor in subheading 8401.10.or 8401.40.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the reactorvessel was entered into onor before 12/31/2010 ............ Free No change No change On or before/31/2.84.17 Pressurizers (whether or notincluding heaters) for use innuclear facilities (providedfor in subheading1.40.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the pressurizerwas entered into on orbefore 12/31/2010 ................. Free No change No change On or before/31/2.84.18 Reactor coolant system looppipe and cold legs, for use innuclear facilities (providedfor in subheading1.40.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the reactorcoolant system loop pipeand cold legs was enteredinto on or before 12/31/2010 Free No change No change On or before/31/2.84.19 Heat exchangers for use innuclear facilities (providedfor in subheading 8402.11.or 8402.90.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the heatexchanger was entered intoon or before 12/31/2010 ....... Free No change No change On or before/31/2.84.20 Main stepup transformers foruse in nuclear facilities (providedfor in subheading4.23.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the mainstepup transformer was enteredinto on or before 12/31/0 ...................................... Free No change No change On or before/31/2.84.21 Steam turbines (whether ornot part of a generator set)for use in nuclear facilities

(provided for in subheading6.81.10), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the steamturbine was entered into onor before 12/31/2010 ............ Free No change No change On or before/31/2.84.22 Main generators (whether ornot part of a generator set)for use in nuclear facilities

(provided for in subheading1.64.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the maingenerator was entered into onor before 12/31/2010 ............ Free No change No change On or before/31/2.84.23 Turbine condensers for use innuclear facilities (providedfor in subheading4.20.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the turbinecondenser was enteredinto on or before 12/31/2010 Free No change No change On or before/31/2.84.24 Moisture separator reheatersfor use in nuclear facilities

(provided for in subheading2.90.00), entered after/31/2008 and on or before/31/2020, if the contractfor the purchase of the moistureseparator reheater wasentered into on or before 12//2010 ................................. Free No change No change On or before/31/2020 ’’.

(b) CLERICAL AMENDMENT.—Subchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by striking headings 9902.84.02 and 9902.84.03.

(c) EFFECTIVE DATE.—The amendments made by this section apply to goods entered, or withdrawn from warehouse for consumption, on or after the date that is 15 days after the date of the enactment of this Act. PART III—TAX PROVISIONS

(a) IN GENERAL.—Subparagraph (B) of section 168(e)(3) of the Internal Revenue Code of 1986 is amended by striking ‘‘and’’ at the end of clause (vi)(III), by striking the period at the end of clause (vii) and inserting ‘‘, and’’, and by inserting after clause (vii) the following new clause:

(viii) any tangible property (not including a building or its structural components) which is used as an integral part of an advanced nuclear power facility (as defined in section 45J(d)(1), determined without regard to subparagraph (B) thereof) the original use of which commences with the taxpayer after the date of the enactment of this clause.’’.

(b) CONFORMING AMENDMENT.—Section 168(e)(3)(E)(vii) of the Internal Revenue Code of is amended by inserting ‘‘and not described in subparagraph (B)(viii) of this paragraph’’ after ‘‘section 1245(a)(3)’’.

(c) EFFECTIVE DATE.—The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.

(a) NEW CREDIT FOR NUCLEAR POWER FACILITIES.—Section 46 of the Internal Revenue Code of is amended—

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(1) by striking ‘‘or’’ at the end of paragraph

(2) by striking the period at the end of paragraph (6) and inserting ‘‘; and’’; and

(b) NUCLEAR POWER FACILITY CONSTRUCTION CREDIT.—Subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 48D the following new section: ‘‘SEC. 48E. NUCLEAR POWER FACILITY CONSTRUCTION CREDIT.

(a) IN GENERAL.—For purposes of section 46, the nuclear power facility construction credit for any taxable year is 10 percent of the qualified nuclear power facility expenditures with respect to a qualified nuclear power facility.

(1) IN GENERAL.—Qualified nuclear power facility expenditures shall be taken into account for the taxable year in which the qualified nuclear power facility is placed in service.

(2) COORDINATION WITH SUBSECTION (c).— The amount which would (but for this paragraph) be taken into account under paragraph (1) with respect to any qualified nuclear power facility shall be reduced (but not below zero) by any amount of qualified nuclear power facility expenditures taken into account under subsection (c) by the taxpayer or a predecessor of the taxpayer, to the extent any amount so taken into account under subsection (c) has not been required to be recaptured under section 50(a).

(1) IN GENERAL.—A taxpayer may elect to take into account qualified nuclear power facility expenditures—

(A) in the case of a qualified nuclear power facility which is a self-constructed facility, no earlier than the taxable year for which such expenditures are properly chargeable to capital account with respect to such facility, and

(B) in the case of a qualified nuclear facility which is not self-constructed property, no earlier than the taxable year in which such expenditures are paid.

(2) SPECIAL RULES FOR APPLYING PARAGRAPH (1).—For purposes of paragraph (1)—

(A) COMPONENT PARTS, ETC.—Notwithstanding that a qualified nuclear power facility is a self-constructed facility, property described in paragraph (3)(B) shall be taken into account in accordance with paragraph (1)(B), and such amounts shall not be included in determining qualified nuclear power facility expenditures under paragraph (1)(A).

(B) CERTAIN BORROWING DISREGARDED.—Any amount borrowed directly or indirectly by the taxpayer on a nonrecourse basis from the person constructing the facility for the taxpayer shall not be treated as an amount expended for such facility.

(i) IN GENERAL.—In the case of a facility or a component of a facility which is not self-constructed, the amount taken into account under paragraph (1)(B) for any taxable year shall not exceed the excess of—

(I) the product of the overall cost to the taxpayer of the facility or component of a facility, multiplied by the percentage of completion of the facility or component of a facility, over

(II) the amount taken into account under paragraph (1)(B) for all prior taxable years as to such facility or component of a facility.

(ii) CARRYOVER OF CERTAIN AMOUNTS.—In the case of a facility or component of a facility which is not selfconstructed, if for the taxable year the amount which (but for clause (i)) would have been taken into account under paragraph (1)(B) exceeds the amount allowed by clause (i), then the amount of such excess shall increase the amount taken into account under paragraph (1)(B) for the succeeding taxable year without regard to this paragraph.

(D) DETERMINATION OF PERCENTAGE OF COMPLETION.—The determination under subparagraph (C) of the portion of the overall cost to the taxpayer of the construction which is properly attributable to construction completed during any taxable year shall be made on the basis of engineering or architectural estimates or on the basis of cost accounting records, using information available at the close of the taxable year in which the credit is being claimed.

(C) of the overall cost to the taxpayer of the construction of a facility shall be made on the basis of engineering or architectural estimates or on the basis of cost accounting records, using information available at the close of the taxable year in which the credit is being claimed.

(F) NO PROGRESS EXPENDITURES FOR PROPERTY FOR YEAR PLACED IN SERVICE, ETC.—In the case of any qualified nuclear facil ity, no qualified nuclear facility expenditures shall be taken into account under this subsection for the earlier of—

(ii) the first taxable year for which recapture is required under section 50(a)(2) with respect to such facility or for any taxable year thereafter.

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(4) DEFINITIONS.—For the purposes of this subsection:

(A) IN GENERAL.—The term ‘self-constructed facility’ means any facility if, at the close of the first taxable year to which the election in this subsection applies, it is reasonable to believe that more than 80 percent of the qualified nuclear facility expenditures for such facility will be made directly by the taxpayer.

(B) TREATMENT OF COMPONENTS.—A component of a facility shall be treated as not self-constructed if, at the close of the first taxable year in which expenditures for the component are paid, it is reasonable to believe that the cost of the component is at least 5 percent of the expected cost of the facility.

(4) ELECTION.—An election shall be made under this subsection for a qualified nuclear power facility by claiming the nuclear power facility construction credit for expenditures described in paragraph (1) on the taxpayer’s return of the tax imposed by this chapter for the taxable year. Such an election shall apply to the taxable year for which made and all subsequent taxable years. Such an election, once made, may be revoked only with the consent of the Secretary.

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(a) DEFINITIONS.—For purposes of this section:

(1) QUALIFIED NUCLEAR POWER FACILITY.— The term ‘qualified nuclear power facility’ means an advanced nuclear facility (as defined in section 45J(d)(2)) which—

(B) when placed in service, will use nuclear power to produce electricity. Such term shall not include any property which is part of a facility the production from which is allowed as a credit under section 45J for the taxable year or any prior taxable year.

(2) QUALIFIED NUCLEAR POWER FACILITY EXPENDITURES.—The term ‘qualified nuclear power facility expenditures’ means any amount paid, accrued, or properly chargeable to capital account—

(B) for which depreciation will be allowable under section 168 once the facility is placed in service, and

(C) which is incurred before the qualified nuclear power facility is placed in service or in connection with the placement of such facility in service.

(A) IN GENERAL.—Except for sales or dispositions between members of the same affiliated group, for purposes of applying this section and section 50, a nuclear power facility that is under construction shall cease, with respect to the taxpayer, to be a qualified nuclear power facility as of the date on which the taxpayer sells, disposes of, or cancels, abandons, or otherwise terminates the construction of, the facility.

(B) RESUMPTION OF CONSTRUCTION.—If a nuclear power facility that is under construction ceases, with respect to the taxpayer, to be a qualified nuclear power facility by reason of subparagraph (A) and work is subsequently resumed on the construction of such facility, the qualified nuclear power facility expenditures shall be determined without regard to any delay or temporary termination of construction of the facility.

(e) APPLICATION OF OTHER RULES.—Rules similar to the rules of subsections (c)(4) and (d) of section

(as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this section to the extent not inconsistent herewith.

(1) IN GENERAL.—A taxpayer may elect to have this section not apply for any taxable year.

(2) TIME AND MANNER FOR MAKING ELECTION.—Rules similar to the rules of section 43(e) shall apply for purposes of this subsection.’’.

(c) SPECIAL RULE FOR BASIS ADJUSTMENT.—Paragraph (3) of section 50(c) of the Internal Revenue Code of 1986 is amended by inserting ‘‘or nuclear power facility construction credit’’ after ‘‘energy credit’’.

Section 50(a)(2) of the Internal Revenue Code of 1986 is amended to read as follows:

(A) IN GENERAL.—If during any taxable year any building to which section 47(d) applied or any facility to which section 48E(c) applied ceases (by reason of sale or other disposition, cancellation or abandonment of contract, or otherwise) to be, with respect to the taxpayer, property which, when placed in service, will be a qualified rehabilitated building or a qualified nuclear power facility, then the tax under this chapter for such taxable year shall be increased by an amount equal to the aggregate decrease in the credits allowed under section 38 for all prior taxable years which would have resulted solely from reducing to zero the credit determined under this subpart with respect to such building or facility.’’.

(B) AMENDMENT TO EXCESS CREDIT RECAPTURE RULE.—Subparagraph (B) of section 50(a)(2) of such Code is amended by—

(i) inserting ‘‘or paragraph (2) of section 48E(b)’’ after ‘‘paragraph (2) of section 47(b)’’;

(ii) inserting ‘‘or section 48E(b)(1)’’ after ‘‘section 47(b)(1)’’; and

(C) AMENDMENT OF SALE AND LEASEBACK RULE.—Subparagraph (C) of section 50(a)(2) of such Code is amended by inserting ‘‘or the qualified nuclear power facility expenditures under section 48E(c)’’ after ‘‘47(d)’’.

(D) COORDINATION.—Subparagraph (D) of section 50(a)(2) of such Code is amended by inserting ‘‘or 48E(c)’’ after ‘‘section 47(d)’’.

(e) APPLICATION OF AT-RISK RULES.—Subparagraph (C) of section 49(a)(1) of the Internal Revenue Code of 1986 is amended—

(vii) the basis of any property which is part of a qualified nuclear power facility under section 48E.’’.

(f) DENIAL OF DOUBLE BENEFIT.—Subsection (c) of section 45J of the Internal Revenue Code of 1986 (relating to other limitations) is amended by adding at the end the following new paragraph:

(3) DENIAL OF DOUBLE BENEFIT.—No credit shall be allowed under this section with respect to any facility for which a credit is allowed under section 48C or 48E for such taxable year or any prior taxable year.’’.

(g) TREATMENT UNDER ALTERNATIVE MINIMUM TAX.—Section 38(c)(4)(B) of the Internal Revenue Code of 1986 is amended by striking ‘‘and’’ at the end of clause

(vii), by redesignating clause (viii) as clause (ix), and by inserting after clause (vii) the following new clause:

Section 46 to the extent that such credit is attributable to the nuclear power facility construction credit under section 48E, and’’.

(h) COORDINATION WITH NUCLEAR POWER GRANTS.—Section 501(c)(12) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

(J) In the case of a mutual or cooperative electric company described in this paragraph or an organization described in section 1381(a)(2)(C), subparagraph (A) shall be applied without taking into account any grant received under section 346 of the American Power Act.’’.

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Sec. 128. CONFORMING AMENDMENTS.

(1) Section 6501(m) of the Internal Revenue Code of 1986 is amended by inserting ‘‘48E(f),’’ after ‘‘45H(g),’’.

(2) The table of sections for subpart E of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 48D the following new item:‘‘Sec. 48E. Nuclear power facility construction credit.’’.

(j) EFFECTIVE DATE.—The amendments made by this section shall apply to periods after the date of enactment of this Act, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).

Sec. 1123. INCLUSION OF NUCLEAR POWER FACILITIES IN QUALIFYING ADVANCED ENERGY PROJECT CREDIT.

(a) IN GENERAL.—Subparagraph (A) of section 48C(c)(1) of the Internal Revenue Code of 1986 is amended by striking ‘‘or’’ at the end of subclause (VI), by redesignating subclause (VII) as subclause (VIII) and , and by inserting after subclause (VI) the following new subclause:

(VII) property designed to be used to produce energy from an advanced nuclear power facility (as defined in section 45J(d)(1), determined without regard to subparagraph (B) thereof), or’’.

(b) EFFECTIVE DATE.—The amendments made by this section shall apply to periods beginning after the date of the enactment of this Act, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).

Sec. 1124. MODIFICATION OF CREDIT FOR PRODUCTION FROM ADVANCED NUCLEAR POWER FACILITIES.

(a) IN GENERAL.—Paragraph (2) of section 45J(b) of the Internal Revenue Code (relating to national limita tion) is amended by striking ‘‘6,000 megawatts’’ and inserting ‘‘8,000 megawatts’’.

(1) IN GENERAL.—Section 45J of the Internal Revenue Code of 1986(relating to credit for production from advanced nuclear power facilities) is amended—

(1) IN GENERAL.—In the case of an advanced nuclear power facility which is owned by a publicprivate partnership or co-owned by a qualified public entity and a non-public entity, any qualified public entity which is a member of such partnership or a co-owner of such facility may transfer such entity’s allocation of the credit under subsection (a) to any non-public entity which is a member of such partnership or which is a co-owner of such facility, except that the aggregate allocations of such credit claimed by such non-public entity shall be subject to the limitations under subsections (b) and (c) and

Section 38. For purposes of sections 141 through 150, any and all such proceeds or other benefit derived by an governmental unit from any transfer under this paragraph shall not result in, and shall be considered not to constitute, a private business use.

(2) QUALIFIED PUBLIC ENTITY.—For purposes of this subsection, the term ‘qualified public entity’ means—

(A) a Federal, State, or local government entity, or any political subdivision or agency or instrumentality thereof,

(B) a mutual or cooperative electric company described in section 501(c)(12) or section 1381(a)(2), or

(C) a not-for-profit electric utility which has or had received a loan or loan guarantee under the Rural Electrification Act of 1936.

(3) VERIFICATION OF TRANSFER OF ALLOCATION.—A qualified public entity that makes a transfer under paragraph (1), and a nonpublic entity that receives an allocation under such a transfer, shall provide verification of such transfer in such manner and at such time as the Secretary shall prescribe.

(4) COORDINATION WITH DEPARTMENT OF TREASURY GRANTS.—In the case of any property with respect to which the Secretary makes a grant to a qualified public entity under section 346 of the American Power Act, no credit that would be allocable to a qualified public entity shall be determined under this section for the taxable year in which such grant is made or any subsequent taxable year.’’.

(2) COORDINATION WITH GENERAL BUSINESS CREDIT.—Subsection (c) of section 38 of such Code

(relating to limitation based on amount of tax) is amended by adding at the end the following new paragraph:

(6) SPECIAL RULE FOR CREDIT FOR PRODUCTION FROM ADVANCED NUCLEAR POWER FACILITIES.—

(A) IN GENERAL.—In the case of the credit for production from advanced nuclear power facilities determined under section 45J(a), paragraph (1) shall not apply with respect to any qualified public entity (as defined in section 45J(e)(2)) which transfers the entity’s allocation of such credit to a non-public partner or a co-owner of such facility as provided in section 45J(e)(1).

(B) VERIFICATION OF TRANSFER.—Subparagraph (A) shall not apply to any qualified public entity unless such entity provides verification of a transfer of credit allocation as required under section 45J(e)(3).’’.

(3) SPECIAL RULE FOR PROCEEDS OF TRANSFERS FOR MUTUAL OR COOPERATIVE ELECTRIC COMPANIES.—Section 501(c)(12) of such Code is amended by adding at the end the following new subparagraph:

(I) In the case of a mutual or cooperative electric company described in this paragraph or an organization described in section 1381(a)(2), income received or accrued from a transfer described in section 45J(e)(1) shall be treated as an amount collected from members for the sole purpose of meeting losses and expenses.’’.

(1) IN GENERAL.—The amendment made by subsection (a) shall apply to electricity produced in taxable years beginning after the date of the enactment of this Act.

(2) ALLOCATION OF CREDIT.—The amendments made by subsection (b) shall apply to taxable years beginning after the date of the enactment of this Act.

Sec. 1125. TREATMENT OF QUALIFIED PUBLIC ENTITIES WITH RESPECT TO PRIVATE ACTIVITY BONDS.

(a) IN GENERAL.—Section 141(b)(6)(A) of the Internal Revenue Code of 1986 is amended by inserting ‘‘or a qualified public entity (as defined in section 45J(e)(2))’’ after ‘‘governmental unit’’.

(b) EFFECTIVE DATE.—The amendment made by this section shall apply to obligations issued after the date of the enactment of this Act.

Sec. 1126. GRANTS FOR QUALIFIED NUCLEAR POWER FACILITY EXPENDITURES IN LIEU OF TAX CREDITS.

(a) IN GENERAL.—Upon application, the Secretary of the Treasury shall, subject to the requirements of this section, provide a grant to each qualified person who places in service a qualified nuclear power facility to reimburse such qualified person for a portion of the qualified nuclear power facility expenditures of such property as provided in subsection (b).

(b) GRANT AMOUNT.—The amount of the grant under subsection (a) with respect to a qualified nuclear power facility shall be 10 percent of the qualified nuclear power facility expenditures.

(c) TIME FOR PAYMENT OF GRANT.—The Secretary of the Treasury shall make payment of any grant under subsection (a) during the 60-day period beginning on the later of—

(2) the date the qualified nuclear power facility for which the grant is being made is placed in service.

(d) QUALIFIED PERSON.—For purposes of this section, the term ‘‘qualified person’’ means a public power provider or a cooperative electric company as those terms are defined in section 54C(d) of the Internal Revenue Code of 1986.

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(a) DEFINITIONS.—For purposes of this section:

(1) the definition of qualified nuclear power facility in section 48D(d)(1) of the Internal Revenue Code of 1986 shall be applied without regard to the last sentence thereof, and

(2) expenditures will be treated as qualified nuclear power facility expenditures without regard to

(f) APPLICATION OF CERTAIN RULES.—In making grants under this section, the Secretary of the Treasury shall apply rules similar to the rules of section 50 of the Internal Revenue Code of 1986. In applying such rules, if the property is disposed of, or otherwise ceases to be a qualified nuclear power facility, the Secretary of the Treasury shall provide for the recapture of the appropriate percentage of the grant amount in such manner as the Secretary of the Treasury determines appropriate. In applying section 50 of the Internal Revenue Code of 1986, subsection (b)(4)(A)(i) of such section shall not apply.

(g) DEFINITIONS.—Terms used in this section which are also used in section 48D of the Internal Revenue Code of 1986 shall have the same meaning for purposes of this section as when used in such section 48D. Any reference in this section to the Secretary of the Treasury shall be treated as including the Secretary’s delegate.

(h) APPROPRIATIONS.—There is hereby appropriated to the Secretary of the Treasury such sums as may be necessary to carry out this section.

(i) TERMINATION.—The Secretary of the Treasury shall not make any grant to any person under this section unless the application of such person for such grant is received before January 1, 2025. Subtitle B—Offshore Oil and Gas

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(a) FINDINGS.—Congress finds that—

(1) domestic offshore oil and gas production supports the broader goal of advancing the energy independence of the United States;

(2) as the United States accelerates a transition to clean energy sources in response to the incentives and programs established under this Act and the amendments made by this Act, the United States will continue to depend for some time on traditional energy sources to fuel economic and job growth;

(3) the catastrophic oil spill in the Gulf of Mexico caused by the explosion of the Deepwater Horizon offshore oil rig tragically illustrates the imperative of moving to clean sources of energy and improving safeguards for domestic production of oil and gas, particularly in offshore areas;

(4) the Deepwater Horizon spill has placed local economies, wildlife, and the invaluable coastal ecosystem of the Gulf of Mexico at great risk, and illustrates that the coastal and marine resources of the United States are sensitive ecological areas of critical importance to the economy and environment of the United States;

(5) a thorough investigation is needed into the cause of the spill and the adequacy of existing safety, emergency response, and environmental regulations, and lessons learned must be rapidly applied to reduce the risk of, and improve the response to, any future catastrophic spills; and

(6) significant financial resources are also needed to repair to the maximum extent practicable damages to coastal and marine resources resulting from the Deepwater Horizon and other offshore oil spills.

(1) to place the United States on a sure path to a cleaner, more secure energy future by establishing powerful, lasting incentives to develop and deploy fuels and technologies that are produced domestically and reduce significantly the risk of climate change and other environmental harms that can devastate lives, communities, and livelihoods; and

(2) to achieve that purpose, to consider through this Act or accompanying legislation—

(A) a moratorium on any new offshore drilling activities until the cause of the explosion of the Deepwater Horizon offshore oil rig is determined and the Secretary of the Interior certifies that it is safe to continue proposed drilling plans;

(B) liability mechanisms that ensure adequate funds are available to mitigate the economic and environmental impacts of offshore drilling accidents;

(D) new investments in preparedness, education, and training to minimize offshore accidents, as well as acceleration of investments in response capabilities;

(E) new studies to assess the effects of oil spill mitigation procedures and tools;

(F) determination by coastal States of whether offshore drilling may be permitted off the shorelines of the States and the ability of States to veto proposed drilling plans if the States would suffer significant adverse impacts in the event of an accident;

(G) revenue sharing with States that do allow drilling, with the States using the revenue to protect the coastlines and coastal ecosystems of the States, and maintain sufficient prepared ness capabilities to help respond to any accident; and

(H) investment of additional drilling revenues to support national action to protect and restore oceans and coastal areas.

Sec. 1202. REVENUE SHARING FROM OUTER CONTINENTAL SHELF AREAS IN CERTAIN COASTAL STATES.

(i) REVENUE SHARING FROM OUTER CONTINENTAL SHELF AREAS IN CERTAIN COASTAL STATES.—

(A) COASTAL POLITICAL SUBDIVISION.— The term ‘coastal political subdivision’ of a coastal State means a county-equivalent subdivision of a coastal State all or part of which—

(i) lies within the coastal zone (as defined in section 304 of the Coastal Zone Management Act of 1972 (16 U.S.C. 1453); and

(ii) the closest point of which is not more than 300 statute miles from the geographic center of any leased tract.

(B) COASTAL STATE.—The term ‘coastal State’ means a State with a coastal seaward boundary within 300 statute miles distance of the geographic center of a leased tract in an Outer Continental Shelf planning area that—

(ii) is not a Gulf producing State (as defined in section 102 of the Gulf of Mexico Energy Security Act of 2006 ( U.S.C. 1331 note; Public Law 109–432)).

(D) LEASED TRACT.—The term ‘leased tract’ means a tract leased under this Act for the purpose of drilling for, developing, and producing oil or natural gas resources.

(E) OUTER CONTINENTAL SHELF AREA.—The term ‘outer Continental Shelf area’ means—

(i) any area withdrawn from disposition by leasing by the ‘Memorandum on Withdrawal of Certain Areas of the United States Outer Continental Shelf from Leas ing Disposition’, from 34 Weekly Comp. Pres. Doc. 1111, dated June 12, 1998; or

(ii) any area of the outer Continental Shelf as to which Congress has denied the use of appropriated funds or other means for preleasing, leasing, or related activities.

(2) POST LEASING REVENUES.—Subject to paragraph (5), in any outer Continental Shelf area in which the Secretary allows leasing, in addition to any bonus bids, the coastal State shall, without further appropriation or action, receive, from leasing of the area, 37.5 percent of—

(A) IN GENERAL.—The Secretary shall pay 20 percent of the allocable share of each coastal State, as determined under this subsection, directly to certain coastal political subdivisions of the coastal State.

(i) IN GENERAL.—For each leased tract used to calculate the allocation of a coastal State, the Secretary shall pay the coastal political subdivisions within miles of the geographic center of the leased tract based on the relative distance of such coastal political subdivisions from the leased tract in accordance with this subparagraph.

(ii) DISTANCES.—For each coastal political subdivision described in clause (i), the Secretary shall determine the distance between the point on the coastal political subdivision coastline closest to the geographic center of the leased tract and the geographic center of the tract.

(iii) PAYMENTS.—The Secretary shall divide and allocate the qualified Outer Continental Shelf revenues derived from the leased tract among coastal political subdivisions described in clause (i) in amounts that are inversely proportional to the applicable distances determined under clause (ii).

(4) CONSERVATION ROYALTY.—After making distributions under paragraphs (1) and (2) and section 31, the Secretary shall, without further appropriation or action, distribute a conservation royalty equal to 12.5 percent of Federal royalty revenues derived from all areas leased under this section for any year, into the land and water conservation fund established under section 2 of the Land and Water Conservation Fund Act of 1965 (16 U.S.C. 460l–5) to be used to carry out State and Federal programs in accordance with sections 6 and 7 of that Act ( U.S.C. 460l–8, 460l–9), as determined by the Secretary of the Interior, which shall be considered income to the fund for purposes of section 2 of that Act (16 U.S.C. 460l-5).

(A) IN GENERAL.—Subject to subparagraph (B), the total amount of revenues made available in an Outer Continental Shelf planning area under paragraph (2) shall not exceed $500,000,000 for each of fiscal years through 2055.

(B) EXPENDITURES.—For the purpose of subparagraph (A), for each of fiscal years through 2055, expenditures under paragraph

(2) shall be net of receipts from that fiscal year from any area in a coastal State.

(i) the Secretary shall reduce the amount of revenues provided to each recipient on a pro rata basis; and

(ii) any remainder of the revenues shall revert to the general fund of the Treasury.

(6) DEFICIT REDUCTION.—After making distributions in accordance with paragraphs (1) and (2) and in accordance with section 31, the Secretary shall, without further appropriation or action, distribute an amount equal to 50 percent of Federal royalty revenues derived from all areas leased under this section for any year, into direct Federal deficit reduction.’’.

(43 U.S.C. 1344) (as amended by section 1202) is amended by adding at the end the following:

(1) IN GENERAL.—Except as provided in paragraph (2), effective beginning on the date that is years after the date of enactment of this subsection, revenues from production that derives from an area in the Alaska Adjacent Zone shall be distributed in the same proportion and for the same uses as provided in subsection (i).

(A) IN GENERAL.—The Secretary shall pay 33 percent of any allocable share of the State of Alaska, as determined under this section, directly to certain Regional Corporations established under section 7(a) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(a)).

(i) IN GENERAL.—For each leased tract used to calculate the allocation of the State of Alaska, the Secretary shall pay the Regional Corporations, after determining those Native villages within the region of the Regional Corporation which are within 300 miles of the geographic center of the leased tract based on the relative distance of such villages from the leased tract, in accordance with this paragraph.

(ii) DISTANCES.—For each such village, the Secretary shall determine the distance between the point in the village closest to the geographic center of the leased tract and the geographic center of the tract.

(iii) PAYMENTS.—The Secretary shall divide and allocate the qualified Outer Continental Shelf revenues derived from the leased tract among the qualifying Regional Corporations in amounts that are inversely proportional to the distances of all of the Native villages within each qualifying region.

(I) treated by the Regional Corporation as revenue subject to the distribution requirements of section 7(i)(1)(A) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(i)(1)(A)); and

(II) divided annually by the Regional Corporation among all 12 Regional Corporations in accordance with section 7(i) of that Act.

(v) FURTHER DISTRIBUTION.—A Regional Corporation receiving revenues under clause (iv)(II) shall further distribute 50 percent of the revenues received in accordance with section 7(j) of the Alaska Native Claims Settlement Act ( U.S.C. 1606(j).

(A) IN GENERAL.—The total amount of revenues made available in an area in the Alaska Adjacent Zone under this subsection shall not exceed $500,000,000 for each of fiscal years 2011 through 2055.

(B) PRO RATA REDUCTIONS.—If subparagraph (A) limits the amount of revenues that would be paid under paragraph (2)—

(i) the Secretary shall reduce the amount of revenues provided to each recipient; and

(ii) any remainder of the revenues shall revert to the general fund of the Treasury.’’.

(1) IN GENERAL.—A State may enact a law prohibiting leasing for oil and gas, or natural gas, within 75 miles of the coastline of the State.

(2) PETITION FOR WITHDRAWAL FROM 5-YEAR PLAN.—On enactment of a State law described in paragraph (1), the Governor of the State may submit to the Secretary a petition requesting that any area within 75 miles of the coastline of the State be withdrawn from the applicable 5-Year Outer Continental Shelf Oil and Gas Leasing Program.

(A) IN GENERAL.—Not later than days after the receipt of a petition of a State described in paragraph (2), the Secretary shall approve the petition.

(B) CONSTRUCTIVE APPROVAL.—If the Secretary fails to approve the petition during the 90-day period beginning on the date of receipt of the petition by the Secretary, the petition shall be considered approved.

(4) AMENDMENT OF 5-YEAR LEASING PROGRAMS.—Not later than 180 days after the approval of a petition under paragraph (3), the Secretary shall amend the applicable 5-Year Outer Continental Shelf Oil and Gas Leasing Program to reflect the action of the State.

(5) SEPARATE PETITIONS.—To prohibit leasing of oil and gas or natural gas within 75 miles of the coastline of a State under this subsection, a State, with the concurrence of the Governor and legislature of the State, shall submit separate petitions for a prohibitions on oil and gas leasing or natural gas leasing.

(6) SCOPE OF PETITIONS.—A petition of a State under paragraph (2) may request that within the area described in paragraph (1) certain areas be withdrawn from all leasing and certain areas be withdrawn from only 1 type of leasing.’’.

(43 U.S.C. 1341) (as amended by section 1204) is amended by adding at the end the following:

(1) IN GENERAL.—If a 5-year plan developed by the Secretary pursuant to section 18 includes an area off the coastline of a State that is eligible to receive revenue sharing under this Act, the Secretary, in consultation with relevant agencies, shall prepare an assessment of—

(A) the probability of an oil spill occurring in the designated area, taking into consideration—

(ii) the location of planned exploration and drilling activities in the area; and

(iii) local tides, currents, winds, and weather patterns and events (such as hurricanes) that may affect the area;

(B) the potential environmental impact on the coastline of the State of an oil spill resulting from drilling activities within the area identified in the 5-year plan;

(C) the potential impact on the coastal economy of the State, including public and private infrastructure, tourism, commercial and recreational fishing and boating, and other forms of coastal recreation, of an oil spill resulting from drilling activities within the area identified in the 5-year plan;

(D) the potential impact on the coastal economy of any other States that the assessment identifies would be directly impacted by an oil spill resulting from drilling activities within the area identified in the 5-year plan, including impacts on the public and private infrastructure, tourism, commercial and recreational fishing and boating, and other forms of coastal recreation of 1 or more States; and

(E) the potential impact on any military operations in the coastal area of an oil spill resulting from drilling activities within the area identified in the 5-year plan.

(2) PROHIBITION ON OIL AND GAS LEASING.— If an assessment conducted under paragraph (1)(D) indicates that a State would be significantly impacted by an oil spill resulting from drilling activities within an area identified in a 5-year plan—

(A) the State may enact a law prohibiting oil and gas leasing in the area proposed for drilling; and

(B) on enactment of the law, no Federal leases may be issued for the area.’’. Subtitle C—Coal PART I—NATIONAL STRATEGY FOR CARBON CAPTURE AND SEQUESTRATION

(a) IN GENERAL.—Not later than 1 year after the date of enactment of this Act, the Administrator, in consultation with the Secretary of Energy, the Secretary of the Interior, and the heads of such other applicable Federal agencies as the President may designate, shall submit to Congress a report establishing a unified and comprehensive strategy to address the key legal, regulatory, and other barriers to the commercial-scale deployment of carbon capture and storage.

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(a) IN GENERAL.—Not later than 1 year after the date of enactment of this Act, the Administrator, in consultation with the Secretary of Energy, the Secretary of the Interior, and the heads of such other relevant Federal agencies as the President may designate, shall submit to Congress a report establishing a unified and comprehensive strategy to address the key legal, regulatory, and other barriers to the commercial-scale deployment of carbon capture and storage.

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(b) BARRIERS.—The report under this section shall—

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(1) identify the regulatory, legal, and other gaps and barriers that—

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(A) could be addressed by a Federal agency using existing statutory authority;

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(2) identify regulatory implementation challenges, including challenges relating to approval of State and tribal programs and delegation of authority for permitting; and

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(2) identify regulatory implementation challenges, including challenges relating to approval of State and tribal programs and delegation of authority for permitting; and

(3) recommend rulemakings, Federal legislation, or other actions that should be taken to further evaluate and address those barriers.

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(3) recommend rulemakings, Federal legislation, or other actions that should be taken to further evaluate and address those barriers.

(c) EXISTING REPORTS.—To the extent a pre-existing interagency effort accomplishes a similar purpose and addresses the same topics as described in this section, the Administrator may rely on the results of the efforts and shall submit the report required under subsection (a) as soon as practicable.

(d) FINDING.—Congress finds that it is in the public interest to achieve widespread, commercial-scale deployment of carbon capture and storage in the United States and throughout Asia and other parts of the world before January 1, 2030.

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Sec. 123. STUDIES AND REPORTS.

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(a) STUDY OF LEGAL FRAMEWORK FOR GEOLOGICAL STORAGE SITES.—

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(1) ESTABLISHMENT OF TASK FORCE.—

(A) IN GENERAL.—As soon as practicable, but not later than 180 days after the date of enactment of this Act, the Administrator shall establish a task force that includes representatives from the Department of the Interior, the Department of Energy, the Department of Transportation, State and tribal agencies and attorneys general, academia, and nongovernmental organizations with relevant expertise.

(B) STUDY.—The task force established under subparagraph (A) shall conduct a study of—

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(B) STUDY.—The task force established under subparagraph (A) shall conduct a study of—

(i) existing Federal environmental law, State environmental laws, and common law that apply to geological storage sites for carbon dioxide, including the ability of those laws to serve as risk management tools;

(ii) the existing statutory framework, including Federal and State laws, that apply to harm and damage to the environment or public health at closed sites at which carbon dioxide injection has been used for enhanced hydrocarbon recovery;

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(iii) the statutory framework, environmental health and safety considerations, implementation issues, and financial implications of potential models for Federal, State, or private sector assumption of liabilities and financial responsibilities with respect to closed geological storage sites;

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(iv) private sector mechanisms, including insurance and bonding, that may be available to manage environmental, health, and safety risks from closed geological storage sites; and

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(iv) private sector mechanisms, including insurance and bonding, that may be available to manage environmental, health, and safety risks from closed geological storage sites; and

(v) the subsurface mineral rights, water rights, and property rights issues associated with geological storage of carbon dioxide, including issues specific to Federal land.

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(v) the subsurface mineral rights, water rights, and property rights issues associated with geological storage of carbon dioxide, including issues specific to Federal land.

(2) REPORT.—Not later than 18 months after the date of enactment of this Act, the task force established under paragraph (1)(A) shall submit to Congress a report describing the results of the study conducted under that paragraph, including any consensus recommendations of the task force.

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(1) STUDY.—The Administrator shall conduct a study of the means by which, and under what circumstances, the environmental laws for which the Environmental Protection Agency has responsibility would apply to carbon dioxide injection and geological storage activities.

(2) REPORT.—Not later than 1 year after the date of enactment of this Act, the Administrator shall submit to Congress a report describing the results of the study conducted under paragraph (1). PART II—CARBON CAPTURE AND SEQUESTRATION DEPLOYMENT

(1) CARBON CAPTURE.—The term ‘‘carbon capture’’ has the meaning given the term in section 963(a) of the Energy Policy Act of 2005 (42 U.S.C. 16293(a)).

(2) CARBON SEQUESTRATION.—The term ‘‘carbon sequestration’’ has the meaning given the term in section 963(a) of the Energy Policy Act of

(3) COUNCIL.—The term ‘‘Council’’ means the Carbon Capture and Sequestration Program Partnership Council established under section 1413(a).

(4) ELECTRIC CONSUMER.—The term ‘‘electric consumer’’ has the meaning given the term in section 3 of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2602).

(5) ELECTRIC UTILITY.—The term ‘‘electric utility’’ has the meaning given the term in section 3 of the Federal Power Act (16 U.S.C. 796).

(6) FOSSIL FUEL-BASED ELECTRICITY.—The term ‘‘fossil fuel-based electricity’’ means electricity that is produced, in whole or in part, from the combustion of a fossil fuel.

ord">(7) FOSSIL FUEL.—The term ‘‘fossil fuel’’ means coal, petroleum, or natural gas, or any derivative of coal, petroleum, or natural gas.

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(5) FOSSIL FUEL.—The term ‘‘fossil fuel’’ means coal, petroleum, natural gas or any derivative of coal, petroleum, or natural gas.

(8) INSTITUTION OF HIGHER EDUCATION.—The term ‘‘institution of higher education’’ has the meaning given the term in section 101(a) of the Higher Education Act of 1965 (20 U.S.C. 1001(a)).

(9) NATIONAL LABORATORY.—The term ‘‘National Laboratory’’ has the meaning given the term in section 2 of the Energy Policy Act of 2005 ( U.S.C. 15801).

(10) PROGRAM DIRECTOR.—The term ‘‘Program Director’’ means the Program Director of the special funding program appointed under section 1413(g).

(11) SPECIAL FUNDING PROGRAM.—The term ‘‘special funding program’’ means the special funding program for development and deployment of carbon capture, sequestration, and conversion technologies established in accordance with section 1412.

(12) STATE REGULATORY AUTHORITY.—The term ‘‘State regulatory authority’’ has the meaning given the term in section 3 of the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2602).

(C) the territories and possessions of the United States, including the territorial waters of the United States and the exclusive economic zone.

(b) MODIFICATION OF DEFINITIONS INCORPORATED BY REFERENCE.—Section 963 of the Energy Policy Act of 2005 (42 U.S.C. 16293) is amended—

(1) by redesignating subsections (a) through (d) as subsections (b) through (e), respectively;

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(a) DEFINITIONS.—In this section:

(1) CARBON CAPTURE.—The term ‘carbon capture’ means the process of capturing anthropogenic carbon dioxide from a stationary source.

(2) CARBON SEQUESTRATION.—The term ‘carbon sequestration’ means the act of storing carbon dioxide through physical, chemical, or biological processes that can prevent the carbon dioxide from reaching the atmosphere.’’;

(3) in subsection (b) (as so redesignated), by striking ‘‘IN GENERAL’’ and inserting ‘‘PROGRAM’’; and

(4) in subsection (c) (as so redesignated), by striking ‘‘subsection (a)’’ and inserting ‘‘subsection

Sec. 1412. SPECIAL FUNDING PROGRAM FOR DEVELOPMENT AND DEPLOYMENT OF CARBON CAPTURE, SEQUESTRATION, AND CONVERSION TECHNOLOGIES.

(1) IN GENERAL.—Not later than 180 days after the date of enactment of this Act, a State regulatory authority shall notify the Secretary in writ ing of the views of the State regulatory authority on the establishment of the special funding program.

(2) NOTICE OF TIMELINE.—As soon as practicable, but not later than 30 days after the date of enactment of this Act, the Secretary shall notify each State regulatory authority of the need to submit views under paragraph (1) during the period described in that paragraph.

(b) ESTABLISHMENT.—The Secretary shall establish the special funding program only if—

(1) the State regulatory authorities of at least 30 States (including the District of Columbia and Puerto Rico as States) submit written notices of approval by the deadline established under subsection

(2) the special funding program can be established not later than 1 year after the date of enactment of this Act.

(1) ASSESSMENTS.—The authority of the Secretary to collect assessments shall expire on the date that is 10 years after the date of the establishment of the special funding program.

(2) AWARDS.—The authority of the Secretary to make funding awards under this part shall expire on the date that is 15 years after the date of the establishment of the special funding program.

(d) ANNUAL REPORT.—Not later than February 1 of each year, the Secretary shall publish and submit to Congress and each State regulatory authority a report that—

(1) includes an identification and description of all programs and projects undertaken under the special funding program during the previous fiscal year; and

(2) describes the allocation or planned allocation of resources of the special funding program for each program and project in the current and subsequent fiscal year.

(a) ESTABLISHMENT.—The Secretary shall establish, and appoint the members of, a Carbon Capture and Sequestration Program Partnership Council to carry out duties described in subsection (f).

(A) IN GENERAL.—The Council shall be composed of not more than 15 voting members.

(B) QUORUM.—A majority of the voting members shall constitute a quorum for official action of the Council.

(2) MINIMUM REPRESENTATION.—The voting membership of the Council shall include at least representative of each of the following:

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(i) Investor-owned utilities.

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(iii) Rural electric cooperatives.

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(iv) Fossil fuel producers.

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(vi) Independent generators or wholesale power providers.

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(vii) Consumer groups.

Section 3 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002).

(3) REPRESENTATION OF ELECTRIC UTILITIES.—A majority of the voting membership of the Council shall be representatives of electric utilities selling fossil fuel-based electricity to electric consumers subject to assessment under section 1416.

(4) NOMINATIONS.—The Secretary shall appoint the Council members representing entities de scribed in subparagraphs (A), (B), and (C) of paragraph (2) from slates of nominees, containing at least 2 candidates for each vacancy to be filled, submitted by—

(B) the American Public Power Association, on behalf of utilities owned by a State agency or unit of local government; and

(5) RECUSAL.—A voting member of the Council may not participate in the review or approval of an application from an entity with which the voting member is affiliated.

(2) the Assistant Secretary with responsibility for research and development of fossil fuels;

(4) 2 representatives of State regulatory authorities, chosen to represent different transmission interconnections, from a slate of nominees, containing at least 2 candidates for each vacancy to be filled, submitted by the National Association of State Regulatory Utility Commissioners; and

(5) such additional officers and employees of the Federal Government as the Secretary determines are necessary for the Council to carry out the functions of the Council effectively.

(1) IN GENERAL.—Except as otherwise provided in this paragraph, a voting member of the Council—

(2) UNEXPIRED TERMS.—A member who fills the unexpired term of a voting member may serve not more than a total of 8 consecutive years.

(3) REAPPOINTMENT OF FORMER VOTING MEMBERS.—A former voting member of the Council may be reappointed if the member has not been a member of the Council for a period of at least 2 years.

(4) INITIAL APPOINTMENT.—The Secretary shall make initial appointments of voting members of the Council for terms of 1, 2, 3, and 4 years, staggered to provide for the selection of 3 members each year, as determined by the Secretary.

(A) NON-FEDERAL EMPLOYEES.—A member of the Council who is not an officer or employee of the Federal Government may be compensated at a rate equal to the daily equivalent of the annual rate of basic pay prescribed for level IV of the Executive Schedule under section 5315 of title 5, United States Code, for each day (including travel time) during which the member is engaged in the performance of the duties of the Council.

(B) FEDERAL EMPLOYEES.—A member of the Council who is an officer or employee of the Federal Government shall serve without compensation in addition to the compensation received for the services of the member as an officer or employee of the Federal Government.

(2) TRAVEL EXPENSES.—A member of the Council shall be allowed travel expenses, including per diem in lieu of subsistence, at rates authorized for an employee of an agency under subchapter 1 of chapter 57 of title 5, United States Code, while away from the home or regular place of business of the member in the performance of the duties of the Council.

(3) CHAIR.—The Secretary shall appoint a voting member of the Council to serve as the Chair of the Council.

(4) EXECUTIVE SECRETARY.—The Secretary shall appoint an Executive Secretary in the Department of Energy to assist the Council in the conduct of the duties of the Council.

(1) advise, assist, consult with, and make recommendations to the Secretary and the Program Director on matters related to the activities carried out by and through the special funding program;

(2)(A) review applications for grants, contracts, cooperative agreements, and other transactions for which the approval of the Council is required under

(3) review and make recommendations on any intellectual property policies required—

(C) to ensure that inventors, whose contributions to the development of clean coal technology are not subject to the protections afforded by section 14 of the Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. 3710c), are provided intellectual property right protection that is not less than the protection afforded to inventors provided protection under that section;

(4) collect information on projects being carried out by other programs to advance the development and deployment of technologies for carbon capture, sequestration, and conversion;

(5)(A) approve an annual overall plan for the special funding program and projects to be carried out under the special funding program; and

(B) submit to Congress, the Secretary, and each State regulatory authority a copy of the plan; and

(6) meet at least 3 times each year, at the call of the Chair or on the request of the Program Director, at a location subject to the approval of the Program Director.

(1) APPOINTMENT.—The Secretary, in consultation with the Council, shall appoint a Program Director for the special funding program, who shall have a background and qualifications especially appropriate to managing the special funding program.

(2) COMPENSATION.—The rate of pay for the Program Director shall not exceed the rate payable for level V of the Executive Schedule under section 5316 of title 5, United States Code.

(A) IN GENERAL.—Notwithstanding sections 3304 and 3309 through 3318 of title 5, United States Code, the Program Director may recruit and directly appoint up to 5 highly qualified scientists, engineers, or critical tech nical personnel into the competitive service, to help manage the special funding program.

(B) EXCEPTION.—The authority granted by subparagraph (A) shall not apply to positions in the excepted service or the Senior Executive Service.

(C) REQUIREMENTS.—In exercising the authority granted by subparagraph (A), the Secretary shall ensure that any action taken by the Secretary—

(i) is consistent with the merit principles of section 2301 of title 5, United States Code; and

(ii) complies with the public notice requirements of section 3327 of title 5, United States Code.

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(j) TECHNICAL ADVISORY COMMITTEE.—

(1) IN GENERAL.—The Secretary, acting through the Program Director, and in consultation with the Council, shall appoint a technical advisory committee to provide independent scientific review of applications for grants, contracts, cooperative agreements, and other transactions to be funded under the special funding program.

(2) MEMBERSHIP.—The technical advisory committee shall be composed of not less than members appointed from among—

(3) CONFLICTS OF INTEREST.—Members of the technical advisory committee may not be affiliated with, or employed by, any organization represented by voting members of the Council.

(A) PEER REVIEW.—The technical advisory committee shall provide independent assessments and technical evaluations, and make recommendations to the Council, on all applications for funding under the special funding program.

(i) IN GENERAL.—The technical advisory committee may provide an independent review of other technical matters relating to the special funding program, including—

(ii) RECOMMENDATIONS.—The technical advisory committee may make recommendations to the Secretary concerning the types of investments, scientific research, or engineering practices that would best further the purposes of this part.

(C) PUBLIC AVAILABILITY.—Except for information exempt from disclosure under paragraphs (4) and (6) of section 552(b) of title 5, United States Code, all reports and evaluations made by the technical advisory committee shall be made available to the public when the reports and evaluations are received by the Council.

(5) TRAVEL EXPENSES.—A member of the technical advisory committee shall be allowed travel expenses, including per diem in lieu of subsistence, at rates authorized for an employee of an agency under subchapter I of chapter 57 of title 5, United States Code, while away from the home or regular place of business of the member in the performance of the duties of the committee.

(1) IN GENERAL.—The special funding program shall support projects to accelerate the commercial availability of carbon capture and sequestration technologies and methods, including technologies that capture and sequester, or capture and convert, carbon dioxide.

(2) PRIORITY.—In making awards under the special funding program, the Program Director shall give priority to projects that include cost sharing.

(b) PROJECT APPROVAL.—The Program Director shall make awards for grants, contracts, cooperative agreements, and other transactions under this part only if the award is—

(1) recommended to the Council by the technical advisory committee established under section 1413(h), after scientific and technical peer review;

(4) prioritized in regions of the United States with a high probability of carbon capture and sequestration development and deployment potential.

(c) SPECIFIC PURPOSES.—In making awards, the Program Director shall ensure, to the maximum extent practicable, that grants, contracts, cooperative agreements, and other transactions funded under the special funding program support commercial-scale demonstrations of carbon capture and sequestration technology projects that—

(5) employ capture and sequestration, or capture and conversion, technologies potentially suitable for new or retrofit applications; and

(6) result in a capture of emissions from the generation of at least 10 gigawatts.

(d) ELIGIBLE ENTITIES.—Entities eligible for funding under this part include—

(1) electric utilities selling fossil fuel-based electricity to electric consumers;

(e) PURCHASE OF CARBON DIOXIDE.—A grant, contract, cooperative agreement, or other transaction under this part may be used—

(1) in the case of established projects that are sequestering carbon dioxide emissions, to purchase carbon dioxide if necessary to conduct tests of carbon sequestration sites; or

(1) IN GENERAL.—The Program Director, with the approval of the Council, may divide available funds into a series of tranches, each supporting the deployment of a specified quantity of electric generating capacity using carbon capture, sequestration, or conversion technologies.

(2) FORM OF FUNDING.—If the Program Director and the Council agree to distribute funds by tranche under this subsection, the Program Director shall distribute funds—

(A) in the form of a payment per ton of carbon captured and sequestered or converted by the project;

(B) based on a sliding scale that provides higher payments per ton for projects achieving higher levels of capture and sequestration or capture and conversion;

(D) in a manner that provides for decreasing payments per ton of carbon dioxide for successive tranches; and

(E) taking into account the reasonable incremental capital and operating costs associated with implementation of the carbon capture and sequestration or carbon capture and conversion technologies.

(g) RELATION TO OTHER LAW.—Projects funded under this part to inject carbon dioxide into geological formations shall be carried out in accordance with this part and section 963 of the Energy Policy Act of 2005 ( U.S.C. 16293) and related provisions of that Act.

(1) NO SMALL-SCALE PROJECTS.—A pilot-scale project, or similar small-scale project, under megawatts shall not be eligible for support under the special funding program.

(2) MID-SCALE PROJECTS.—Mid-scale projects, of not less than 100 megawatts and not more than 300 megawatts, shall be eligible for up to 20 percent of the total funds awarded.

(3) DEDICATION OF FUNDS.—Except as provided in subsection (i), the special funding program shall use all funds derived from assessments under

Section 1415 to fund grants, contracts, cooperative agreements, and other transactions under this part.

(i) ADMINISTRATIVE EXPENSES.—Not more than percent of the funds collected for any fiscal year under

Section 1415 may be used for the administrative expenses of carrying out the special funding program.

(1) IN GENERAL.—For each fiscal year following the establishment of the special funding program, the Secretary shall collect an assessment on electric utilities for all fossil fuel-based electricity sold to electric consumers, as determined under section 1417.

(A) reflect the relative carbon dioxide emission rates of different fossil fuel-based electricity; and

(B) initially shall be not less than the following amounts for coal, natural gas, and oil:‘‘Fuel type rate of assessment per kilowatt hourCoal ........................................................................ $0.00Natural Gas ............................................................ $0.00Oil ........................................................................... $0.00108’’.

(3) ADJUSTMENTS.—The Secretary may adjust the amount of assessments on fossil fuel-based electricity to reflect changes in the expected quantities of the electricity from different fuel types so that the assessments generate not less than $2,000,000, and not more than $2,100,000,000 for each fiscal year.

(4) RESIDENTIAL EXEMPTION.—Nothing in this part authorizes the Secretary to collect an assessment under paragraph (1) from individual consumers with respect to electricity used for the residences of the individual consumers.

(b) TREATMENT OF ASSESSMENTS.—Notwithstanding section 3302 of title 31, United States Code, all amounts collected by the Secretary under this section shall—

(1) be credited as offsetting collections to carry out activities authorized under section 1414;

(2) be available for expenditure only to pay the costs of carrying out the activities authorized under

(3) be available only to the extent provided for in advance in an appropriations Act; and

(c) FEE TITLE.—The Secretary may vest fee title or other property interests acquired under projects conducted under this part in any entity, including the United States.

(d) DATA PROTECTION.—For a period not exceeding 5 years after completion of the operations phase of a grant, contract, cooperative agreement, or other transaction under this part, the Secretary may provide appropriate protections (including exemptions from subchapter II of chapter 5 of title 5, United States Code) against the dissemination of information that—

(2) would be a trade secret or commercial or financial information that is privileged or confidential if the information had been obtained from and first produced by a non-Federal party participating in the project.

(e) REVERSION OF UNUSED FUNDS.—Effective beginning on the date that is 7 years after the establishment of the special funding program, if the Secretary, acting through the Program Director, does not obligate at least 75 percent of the available proceeds of the assessed fees for any fiscal year due to an absence of qualified projects or similar circumstances, the Secretary, without further appropriation, shall reimburse the remaining unobligated balance of the fees, less administrative and other expenses authorized by this part, to the electric utilities on which the fees were assessed, in proportion to the collected assessments of the electric utilities.

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(a) DEFINITIONS.—In this section:

(1) ERCOT.—The term ‘‘ERCOT’’ means the Electric Reliability Council of Texas.

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(A) The term ‘‘ERCOT’’ means the Electric Reliability Council of Texas.

(2) LOAD-SERVING ENTITY.—The term ‘‘loadserving entity’’ has the meaning given the term in ERCOT Protocols in effect on the date of enactment of this Act.

(3) QUALIFIED SCHEDULING ENTITY.—The term ‘‘qualified scheduling entity’’ has the meaning given the term in ERCOT Protocols in effect on the date of enactment of this Act.

(4) RENEWABLE ENERGY CREDIT.—The term ‘‘renewable energy credit’’ has the meaning given the term by the Public Utility Commission of Texas pursuant to section 39.904(b) of the Public Utility Regulatory Act of 1999 of the State of Texas as in effect on the date of enactment of this Act.

(1) IN GENERAL.—Notwithstanding any other provision of this part, within ERCOT, the assessment required under section 1415 shall be—

(A) levied directly on qualified scheduling entities, or successor entities of the qualified scheduling entities;

an class="new_word">(B) charged in an amount that is consistent with other charges imposed on qualified scheduling entities as a fee on energy used by the load-serving entities; and

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(ii) charged consistent with other charges imposed on qualified scheduling entities as a fee on energy used by the load-serving entities; and

(2) REQUIREMENTS.—The assessment amounts referred to in paragraph (1) shall—

(A) be determined by the quantity and types of fossil fuel-based electricity delivered directly to all electric consumers in the prior calendar year beginning with the year ending immediately prior to the beginning of the period described in section 1412(c); and

(B) take into account the number of renewable energy credits retired by the load-serving entities represented by a qualified scheduling entity during the prior calendar year.

(c) ADMINISTRATION EXPENSES.—Not more than percent of the funds collected for any fiscal year by ERCOT under this section may be used for the administrative expenses incurred in the determination, collection, and remittance of the assessments to the Secretary.

(d) AUDIT.—ERCOT shall submit to the Secretary a copy of the annual audit of ERCOT relating to the administration of this section.

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(f) DETERMINATION OF FOSSIL FUEL-BASED ELECTRICITY DELIVERIES.—

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(a) FINDINGS.—Congress finds that—

(1) the assessments under section 1415 are to be collected based on the quantity of fossil fuelbased electricity sold by each electric utility to electric consumers;

(2) because many electric utilities purchase all or part of the electricity needed by the electric consumers of the utilities from other entities, it may not be practicable to determine the precise fuel mix for the power sold by each individual electric utility; and

(3) it may be necessary to use average data, often on a regional basis with reference to Regional Transmission Organization or North American Electric Reliability Corporation regions, to make the determinations necessary for making the assessments.

(1) IN GENERAL.—The Secretary, in consultation with the Administrator and the Energy Information Administration, shall issue for notice and comment a proposed regulation to determine the level and type of fossil fuel-based electricity delivered to electric consumers by each electric utility in the United States during the most recent calendar year or other period determined by the Secretary to be most appropriate.

(2) BALANCING.—The proposed regulation shall balance the need to be efficient, reasonably precise, and timely, taking into account the nature and cost of data currently available and the nature of markets and regulations in effect in various regions of the United States.

(3) VARYING METHODOLOGIES.—The Secretary may apply different methodologies in different regions of the United States if appropriate to obtain the best balance of factors described in paragraph

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(2);

(1) IN GENERAL.—Not later than 180 days after the date of enactment of this Act, and after opportunity for comment, the Secretary shall promulgate a final regulation under this section for determining the level and type of fossil fuel-based electricity delivered to electric consumers by each electric utility in the United States during the appropriate period, as determined by the Secretary.

(2) NEW DATA SOURCES.—In promulgating the final regulation, the Secretary may—

(A) consider opportunities and costs to develop new data sources in the future; and

(B) issue recommendations for the Energy Information Administration or other agencies to collect the data.

(3) UPDATES.—After notice and opportunity for comment, the Secretary may, by regulation, update and modify the methodology for making determinations under this section.

(1) IN GENERAL.—In accordance with the final regulation promulgated under subsection (c), the Secretary shall—

(A) make annual determinations of the quantities and types for each electric utility; and

(1) IN GENERAL.—The owner or operator of any electric utility that believes that the Secretary has misapplied the methodology in the final regulation in determining the quantity and types of fossil fuel-based electricity delivered by the electric utility may seek a rehearing of the determination not later than 30 days after publication of the determination in the Federal Register.

(2) DEADLINE.—Not later than 30 days after a rehearing petition is formally requested, the Secretary shall rule on the rehearing petition.

(3) JUDICIAL REVIEW.—A determination of the Secretary under paragraph (2) shall be final and subject to judicial review in the United States Court of Appeals for the District of Columbia Circuit.

(a) IN GENERAL.—The Secretary may bring an action in the appropriate court of the United States to compel compliance with an assessment levied by the Secretary under this part.

(b) PAYMENT.—A successful action for compliance under this section may require payment by the defendant of the costs incurred by the Secretary in bringing the action.

Sec. 1419. MIDCOURSE REVIEW. Not later than 5 years after the establishment of the special funding program, the Comptroller General of the United States shall submit to Congress a report that—

(B) impacts on the prospects for commercialization of carbon capture and sequestration technologies; and

(2) makes such recommendations as the Comptroller General of the United States considers to be appropriate in each of those areas.

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(i) RECOVERY OF COSTS.—

(a) IN GENERAL.—An electric utility, the transmission, delivery, or sales of electric energy of which are subject to any form of rate regulation, may not be denied an opportunity to recover the full amount of the prudently incurred costs associated with complying with this part, consistent with applicable State or Federal law.

(b) RATEPAYER REBATES.—Regulatory authorities that approve cost recovery pursuant to subsection (a) may order rebates to ratepayers to the extent that electric utilities selling fossil fuel-based electricity to electric consumers are reimbursed undedicated or unassigned balances in accordance with section 1415. PART III—COMMERCIAL DEPLOYMENT OF CARBON CAPTURE AND SEQUESTRATION TECHNOLOGIES

Sec. 1431. COMMERCIAL DEPLOYMENT OF CARBON CAPTURE AND PERMANENT SEQUESTRATION TECHNOLOGIES. Part G of title VII of the Clean Air Act (as added by section 2101) is amended by inserting after section the following: ‘‘SEC. 794. COMMERCIAL DEPLOYMENT OF CARBON CAPTURE AND PERMANENT SEQUESTRATION TECHNOLOGIES.

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(a) DEFINITIONS.—In this section:

(1) CARBON CAPTURE AND PERMANENT SEQUESTRATION.—The term ‘carbon capture and permanent sequestration’ shall—

(ii) conversion of captured carbon dioxide to a stable form that will safely and permanently sequester the carbon dioxide.

(A) IN GENERAL.—The term ‘enhanced hydrocarbon recovery’ means a process by which oil, methane, or another natural gas is recovered by the injection of carbon dioxide into a geological formation.

(B) EXCLUSION.—The term ‘enhanced hydrocarbon recovery’ does not include the in situ generation of a new hydrocarbon.

(3) QUALIFYING ELECTRIC GENERATING UNIT.—The term ‘qualifying electric generating unit’ means an electric utility unit—

(A) that derives at least 50 percent of the annual fuel input of the unit from—

(ii) in the case of retrofit applications, the carbon capture and permanent sequestration technology of which is applied to the flue gas or fuel gas stream from at least 200 megawatts of the total nameplate generating capacity of the unit.

(4) QUALIFYING INDUSTRIAL SOURCE.—The term ‘qualifying industrial source’ means a source that—

(B) absent carbon capture and permanent sequestration, would emit more than 50, tons per year of carbon dioxide; and

(A) IN GENERAL.—The term ‘treated generating capacity’ means the portion of the total generating capacity of an electric generating unit (or industrial source, measured by such method as the Administrator may designate to be equivalent to the calculation under subparagraph (B)) for which the flue gas or fuel gas is treated by the carbon capture and permanent sequestration technology.

(B) CALCULATION.—In determining the treated portion of flue gas or fuel gas of an electric generating unit under subparagraph

(A), the Administrator shall multiply the nameplate capacity of the unit by the ratio that—

(i) the mass of flue gas or fuel gas that is treated by the carbon capture and permanent sequestration technology; bears to

(ii) the total mass of the flue gas or fuel gas that is produced when the unit is operating at maximum capacity.

(b) REGULATIONS.—Not later than 2 years after the date of enactment of this title, the Administrator shall promulgate regulations providing for the distribution of emission allowances allocated under section 781(c)(1), pursuant to the requirements of this section, to support the commercial deployment of carbon capture and permanent sequestration technologies in electric power generation and industrial operations.

(1) ELIGIBILITY.—For an owner or operator of a project to be eligible to receive emission allowances under this section, the project shall—

(i) at a qualifying electric generating unit that, on implementation of the carbon capture and permanent sequestration technology, will achieve an emission limitation that is at least a 50-percent reduction in emissions of the carbon dioxide produced by—

(I) the unit, measured on an annual basis, as determined by the Administrator; or

(a)(3)(B)(ii), the treated portion of flue gas from the unit, measured on an annual basis, as determined by the Administrator; or

(ii) at a qualifying industrial source that, on implementation, will achieve an emission limitation that is at least a 50- percent reduction in emissions of the carbon dioxide produced by the emission point, measured on an annual basis, as determined by the Administrator;

(B)(i) geologically sequester carbon dioxide at a site that meets all applicable permitting and certification requirements for permanent geological sequestration; or

(ii) pursuant to such requirements as the Administrator may prescribe by regulation, convert captured carbon dioxide to a stable form that will safely and permanently sequester the carbon dioxide;

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(A) PERIOD.—The Administrator shall distribute emission allowances allocated under

Section 781(c)(1) to eligible projects for each of the first 10 calendar years for which each eligible project is in commercial operation.

(i) PHASE I DISTRIBUTION.—For each project that is certified under subsection (h), the quantity of emission allowances that the Administrator shall distribute for a calendar year to the owner or operator of the eligible project shall be equal to the quotient obtained by dividing—

(aa) the number of metric tons of carbon dioxide emissions avoided through carbon capture and permanent sequestration of emissions by the project for a particular year, as determined pursuant to such methodology as the Administrator shall prescribe, by regulation; and

(bb) a bonus allowance value that is assigned to the project under subsection (d)(2); by

(II) the average fair market value of an emission allowance during the calendar year preceding the earlier of—

(aa) the calendar year during which the project captured and sequestered the carbon dioxide emissions; or

(bb) the calendar year in which the project receives an advanced distribution of emission allowances under subsection

(e), the quantity of emission allowances that the Administrator shall distribute for a calendar year to the owner or operator of the eligible project shall be determined through—

(II) if the Administrator decides not to distribute emission allowances through a reverse auction, an alternate distribution method established by regulation under subsection (e)(4).

(C) FORMULA FOR INDUSTRIAL SOURCES.—For each project that qualifies under subsection (g), the quantity of emission allowances that the Administrator shall distribute for a calendar year to the owner or operator of the eligible project shall be determined in accordance with subsection (g)(2).

(D) CONSISTENCY.—The Administrator shall develop a method of distribution for each category of eligible projects under this paragraph in a manner that is consistent with the certification and distribution requirements of subsection (h).

(A) IN GENERAL.—Subject to subparagraph (B), this subsection shall apply to projects that are undertaken at qualifying electric generating units that the Administrator determines to be eligible to receive emission allowances under this section.

(B) CAPACITY.—The total cumulative generating capacity of the projects described in subparagraph (A) shall be equal to approximately 20 gigawatts of the treated generating capacity.

(i) IN GENERAL.—The first tranche shall include the first 10 gigawatts of treated generating capacity undertaken at qualifying electric generating units that receive emission allowances under this section.

(ii) CERTAIN UNITS.—For an eligible project achieving carbon capture and permanent sequestration of 90 percent or more of the carbon dioxide that otherwise would be emitted by the unit, the bonus allowance value shall be $96 per ton of carbon dioxide emissions avoided through the use of carbon capture and permanent sequestration.

(iii) BONUS ALLOWANCE VALUE.— The Administrator shall establish, by regulation, a bonus allowance value for each rate of carbon capture and permanent sequestration achieved by an eligible project—

(II) varying in direct proportion with increasing rates of carbon capture and permanent sequestration up to $96 per ton for an 90-percent rate.

(i) IN GENERAL.—The second tranche shall include the second gigawatts of treated generating capacity undertaken at qualifying electric generating units that receive emission allowances under this section.

(ii) CERTAIN UNITS.—For an eligible project achieving the carbon capture and permanent sequestration of 90 percent or more of the carbon dioxide that otherwise would be emitted by the eligible project, the bonus allowance value shall be $85 per ton of carbon dioxide emissions avoided through the use of capture and permanent sequestration.

(II) varying in direct proportion with increasing rates of carbon capture and permanent sequestration up to $85 per ton for a 90-percent rate.

(C) INCREASE IN BONUS ALLOWANCE VALUE.—For an eligible project that commences commercial operation by not later than January 1, 2017, and that meets the eligibility criteria under subsection (c), the otherwise-applicable bonus allowance value under this paragraph shall be increased by $10, if the owner or operator of the eligible project submits to the Administrator by not later than January 1, 2012, a notification of the intent to implement carbon capture and permanent sequestration technology at a qualifying electric generating unit in accordance with subsection (c).

(i) IN GENERAL.—For a carbon capture and permanent sequestration project sequestering in a geological formation for purposes of enhanced hydrocarbon recovery, the Administrator, by regulation, shall reduce the applicable bonus allowance value under this paragraph to reflect the lower net cost of the project, as compared to permanent sequestration into geological formations solely for purposes of sequestration.

(ii) ASSESSMENT OF NET COST.— For the purpose of this subparagraph, an assessment of net cost of a project shall account for the cost of the injection of carbon dioxide, or other method of enhanced hydrocarbon recovery, that would have otherwise been undertaken in the absence of the carbon capture and permanent sequestration project under consideration.

(E) ADJUSTMENTS.—The Administrator shall annually adjust for monetary inflation the bonus allowance values established under this paragraph.

(F) MEASUREMENT.—The Administrator shall measure the tranches and capture levels for assigning the bonus allowance values under this subsection based on the treated generating capacity of the qualifying electric generating units and qualifying industrial sources that receive emission allowances under this subsection.

(i) IN GENERAL.—The Administrator and the Secretary of Energy may jointly determine that the average fair market value for emission allowances or bonus allowances have been too low or too high to achieve efficient and cost-effective commercial deployment of carbon capture and permanent sequestration technology in a calendar year.

(I) promulgate regulations to adjust the bonus allowance value under this paragraph; or

(II) distribute an appropriate quantity of emission allowances allocated under section ø781(b)(5)¿ from any future vintage year.

(1) APPLICATION.—This subsection shall apply only to the distribution of emission allowances for carbon capture and permanent sequestration projects undertaken at qualifying electric generating units and qualifying industrial sources after the treated generating capacity threshold identified under subsection (d)(1) is reached.

(2) REGULATIONS.—Not later than 2 years before the date on which the capacity threshold identified in subsection (d)(1) is projected to be reached, the Administrator shall promulgate regulations to govern the distribution of emission allowances to the owners or operators of eligible projects under this subsection.

(A) IN GENERAL.—Except as provided in paragraph (4), the regulations promulgated pursuant to paragraph (2) shall provide for the distribution of emission allowances to the owners or operators of eligible projects under this subsection through at least 2 reverse auctions, each of which shall be held not less frequently than once each calendar year.

(i) PROJECTS AT INDUSTRIAL SOURCES.—The Administrator shall annually establish a reverse auction for projects at industrial sources, which may not participate in other auctions.

(ii) OTHER AUCTIONS.—The Administrator may establish a separate auction for each of not more than 5 different project categories, as defined based on—

(iii) EFFICIENT DISTRIBUTION.— The Administrator shall establish procedures for the auction of emission allowances under this subparagraph to ensure that the establishment of separate auctions for different project categories will not un duly impede the efficient and expeditious distribution of emission allowances to eligible projects under this subsection.

(iv) MINIMUM RATES.—The Administrator may establish appropriate minimum rates of carbon capture and permanent sequestration for the treated generating capacity of a project in implementing this subparagraph.

(ii) owners or operators of eligible projects participating in the auction shall submit a bid, including the desired level of carbon dioxide permanent sequestration incentive per ton and the estimated quantity of carbon dioxide that the project will permanently sequester during a 10-year period; and

(iii) the Administrator shall select bids within each auction for the permanent sequestration quantity submitted, beginning with the eligible project for which the bid is submitted for the lowest level of permanent sequestration incentive on a perton basis and meeting such other requirements as the Administrator may specify, until the amounts available for the reverse auction are committed.

(D) FORM OF DISTRIBUTION.—The Administrator shall distribute emission allowances to the owners or operators of eligible projects selected through a reverse auction under this paragraph pursuant to a formula equivalent to the formula contained in subsection (c)(2)(B), except that the bonus allowance value that is bid by the applicable entity shall be substituted for the bonus allowance values described in subsection (c)(2).

(A) IN GENERAL.—If the Administrator determines that a reverse auction will not result in efficient and cost-effective commercial deployment of carbon capture and permanent sequestration technologies, the Administrator, pursuant to regulations under paragraph (2) or

(5), shall prescribe a schedule for the provision of bonus allowances to the owners or operators of eligible projects under this subsection, in accordance with the requirements of this paragraph.

(B) MULTIPLE TRANCHES.—The Administrator shall divide emission allowances available for distribution to the owners or operators of eligible projects into a series of tranches, each of which—

(i) shall support the deployment of a specified quantity of cumulative electric generating capacity using carbon capture and permanent sequestration technology; and

(C) METHOD OF DISTRIBUTION.—The Administrator shall distribute emission allowances within each tranche, on a first-come, first-served basis—

(i) based on the date of full-scale operation of carbon capture and permanent sequestration technology; and

(I) is similar to the formula contained in subsection (c)(2)(C), ex cept that the Administrator may prescribe bonus allowance values different than those described in subsection (c)(2) based on the criteria established under subparagraph (E); and

(II) establishes the number of emission allowances to be distributed per ton of carbon dioxide sequestered by the project.

(D) REQUIREMENTS.—For each tranche established pursuant to subparagraph (B), the Administrator shall establish a schedule for distributing emission allowances that—

(i) is based on a sliding scale that provides higher bonus allowance values for projects achieving higher rates of carbon capture and permanent sequestration for the treated generation capacity at the unit;

(ii) for each carbon capture and permanent sequestration rate, establishes a bonus allowance value that is lower than that established for the applicable rate for the previous tranche (or, in the case of the first tranche, than that established for the applicable rate under subsection (d)(2)); and

(iii) may establish different bonus allowance levels for not more than 5 different project categories, as defined based on—

(E) CRITERIA FOR ESTABLISHING BONUS ALLOWANCE VALUES.—In establishing bonus allowance values under this paragraph, the Administrator shall seek to cover not more than the reasonable incremental capital and operating costs of a project that are attributable to implementation of carbon capture and permanent sequestration technologies and carbon transportation technologies, taking into account—

(ii) the reduced cost associated with sequestering in a geological formation for purposes of enhanced hydrocarbon recovery, as compared to permanent sequestration into geological formations solely for purposes of sequestration;

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(iv) such other factors as the Administrator determines to be appropriate.

(5) REVISION OF REGULATIONS.—The Administrator shall review and, as appropriate, revise the applicable regulations under this subsection not less frequently than once every 8 years.

(ii) authorized under State or Federal law to derive at least 30 percent of the annual heat input of the utility unit from coal, petroleum coke, or any combination of those fuels.

(i) IN GENERAL.—The term ‘initially permitted’, with respect to a covered EGU, means that the owner or operator of the covered EGU has received a preconstruction approval or permit under this Act for the covered EGU as a new

(not a modified) source, but administrative review or appeal of the approval or permit has not been exhausted.

(ii) TREATMENT.—A subsequent modification of any approval or permit described in clause (i), ongoing administrative or court review, appeal, or challenge, or the existence or tolling of any time to pursue further review, appeals, or challenges, shall not affect the date on which a covered EGU is considered to be initially permitted under this subparagraph.

(2) COVERED EGUS INITIALLY PERMITTED FROM 2009 THROUGH 2014.—For a covered EGU that is initially permitted during the period beginning on January 1, 2009, and ending on December 31, 2014, the Administrator shall reduce the quantity of emission allowances that the owner or operator of the covered EGU would otherwise be eligible to receive under this section as follows:

(A) In the case of a covered EGU commencing operation on or before January 1, 2019, if the date in clause (ii)(I) is earlier than the date in clause (ii)(II), by the product obtained by multiplying—

(bb) the date that is years after the commencement of operation of the covered EGU; and

(II) the first year that the covered EGU achieves (and thereafter maintains) an emission limitation that is at least a 50-percent reduction in emissions of carbon dioxide produced by the unit, measured on an annual basis.

(B) In the case of a covered EGU commencing operation after January 1, 2019, by the product obtained by multiplying—

(3) COVERED EGUS INITIALLY PERMITTED FROM 2015 THROUGH 2019.—The owner or operator of a covered EGU that is initially permitted during the period beginning on January 1, 2015, and ending on December 31, 2019, shall be ineligible to receive emission allowances under this section if the covered EGU, on commencement of operations (and thereafter), does not achieve and maintain an emission limitation that is at least a 50-percent reduction in emissions of carbon dioxide produced by the covered EGU, measured on an annual basis.

(A) IN GENERAL.—For a covered EGU that receives an advanced distribution of emission allowances, the Administrator shall reduce and recover, as applicable, the quantity of emission allowances that the owner or operator of the EGU has received and remains eligible to receive under this section, which shall be equal to the product obtained by multiplying—

(aa) in the case of a covered EGU that was initially permitted during the period beginning on January 1, 2009, and ending on December 31, 2014, the date of commencement of operation of the EGU; or

(bb) in the case of a covered EGU that was initially permitted prior to January 1, 2009, the date that is 3 years after the date on which the project owner receives an advanced distribution for that EGU under subsection

(II) the first year that the EGU achieves (and thereafter maintains) an emission limitation that is at least a 50-percent reduction in emissions of carbon dioxide produced by the EGU, measured on an annual basis.

(i) IN GENERAL.—If an owner or operator of a covered EGU that receives an advanced distribution of emission allowances determines that the owner or operator will not be able to achieve at least a 50-percent reduction in emissions of carbon dioxide produced by the EGU, as measured on an annual basis, by the date specified in subparagraph (A)(ii)(I), the owner or operator may petition the Administrator to extend that date by not more than 18 months.

(ii) TIME OF SUBMISSION OF PETITION.—The owner or operator shall submit a petition described in clause (i) to the Administrator as soon as practicable after the date on which the basis for the petition arises.

(iii) CONDITIONS FOR EXTENSION.— The Administrator shall prescribe, by regulation, the conditions under which an extension under clause (i) may be granted, including—

(I) the inability of a covered EGU to sequester at the site, despite due diligence having been undertaken; and

(II) legal challenges to the implementation of the carbon capture and permanent sequestration technology.

(A) may distribute not more than 15 percent of the emission allowances allocated under

Section 781(c)(1) for any vintage year to the owners or operators of eligible industrial sources to support the commercial-scale deployment of carbon capture and permanent sequestration technologies at those sources; and

(i) may distribute to eligible industrial sources not more than 15 percent of the emission allowances allocated under

(ii) may not distribute those emission allowances for any vintage year in the first tranche of phase I.

(A) IN GENERAL.—The Administrator shall prescribe, by regulation, requirements for the distribution of emission allowances to the owners or operators of industrial sources under this subsection, based on a bonus allowance for mula that awards emission allowances to qualifying projects on the basis of tons of carbon dioxide captured and permanently sequestered.

(B) METHOD.—The Administrator may provide for the distribution of emission allowances pursuant to—

(e)(3), including the use of separate auctions for different project categories; or

(ii) an incentive schedule similar to the schedule described in subsection (e)(4), which shall ensure that incentives are established so as to satisfy the requirement described in subsection (e)(4)(E).

(3) REVISION OF REGULATIONS.—The Administrator shall review and, as appropriate, revise the regulations under this subsection not less frequently than once every 8 years.

(i) PHASE I; ALTERNATIVE DISTRIBUTION METHOD.—In the case of a qualifying project that is eligible to receive allowances under phase I or subsection

(e)(4), at any time prior to placing a carbon capture and permanent sequestration project into commercial operation, the owner or operator of the planned project may request from the Administrator a certification that the project is eligible to receive emission allowances under this section.

(ii) REVERSE AUCTIONS.—In the case of a qualifying project that wins a reverse auction under subsection (e) or (g), within a reasonably brief period following completion of the auction (as specified by the Administrator), the owner or operator of the qualifying project shall request from the Administrator a certification that the project is eligible to receive emission allowances under this section.

(iii) ELIGIBLE PROJECTS.—Eligible projects in phase I and phase II may receive certification under this paragraph.

(iv) ISSUANCE.—Not later than days after the date on which the Administrator determines that the owner or oper ator of the planned project has submitted complete documentation pursuant to subparagraph (B), the Administrator shall issue a certification described in this subparagraph—

(I) if the owner or operator demonstrates a commitment to construct and operate a project that satisfies—

(II) that is based on the consideration by the Administrator of the documentation submitted pursuant to subparagraph (B), as well as other relevant information, as determined by the Administrator, in consultation with the owner or operator.

(i) IN GENERAL.—The Administrator shall prescribe, by regulation, the documentation necessary for making a determination of project eligibility for the cer tification under subparagraph (A), including—

(I) in the case of a planned project receiving an advanced distribution of emission allowances, a commitment to implement carbon and permanent sequestration technology on commencement of operation to meet the eligibility requirements of

(II) technical information regarding the carbon capture and permanent sequestration technology, coal type, geological formation type (if applicable), and other relevant design features that are planned for the project;

(III) the annual reductions in carbon dioxide emissions that the carbon capture and permanent sequestration technology is projected to achieve during each of the first 10 years that the project achieves commercial operation;

(IV) a demonstration that the owner or operator is committed to constructing and operating the planned project on a timeline marked by reasonable milestones, through the completion of 1 of the actions specified in subparagraph (C)(iii);

(V) the amount of Federal funding the project owner has received, if any, to cover the costs of constructing a project that is eligible under this paragraph; and

(VI) an assessment of the costs of constructing the project, which shall serve as a basis for the determination of the Administrator regarding advanced distributions under paragraph (3)(C).

(ii) NONRETROFIT APPLICATION.— In the case of a project that is not a retrofit application, the assessment of costs described in clause (i)(VI) shall include an assessment of the costs of constructing the electric generating unit or industrial source that will produce the flue gas or fuel gas to be treated by the carbon capture and permanent sequestration technology.

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(i) IN GENERAL.—Subject to clause

(ii), the completion of any 1 of the qualifying actions specified under clause (iii) shall constitute a commitment to construct and operate a planned carbon capture and permanent sequestration project.

(ii) CONDITION.—In the case of a qualifying action specified in subclause (I) or (II) of clause (iii), the completion of such an action may be subject to a condition that the Administrator will issue a certification under this paragraph for the distribution of emission allowances to the project.

(iii) QUALIFYING ACTIONS.—Qualifying actions under this subparagraph shall include—

(aa) a commitment by lenders or other appropriate enti ties to finance the project, which may be subject to customary closing conditions that are associated with the execution of the commitment;

(bb) an authorization by a State regulatory authority to allow recovery, from the retail customers of the electric utility, of the costs of the project by a State-regulated electric utility that plans to construct the project; or

(cc) an authorization by a State legislature to allow recovery, from the retail customers of electric utilities that are required to purchase some or all of the electricity from the project pursuant to State law, of the costs of the project, on the conditions that the project has been approved by the legislature and, under State law, retail electric providers are required collectively to purchase all of the net electric output from the project; and

(II) a commitment by the owner or operator of the project to execute a surety bond in sufficient amounts by not later than 2 years after the date on which the Administrator issues the certification for the project.

(D) CONTENT OF CERTIFICATION.—The Administrator shall prescribe, by regulation, the required content of each certification issued under this paragraph, including—

(i) the annual reductions in carbon dioxide emissions that the carbon capture and sequestration technology the owner or operator of the planned project commits to achieve during each of the first 10 years that the project is in commercial operation;

(ii) the construction and operating milestones to which the owner or operator of the planned project commits;

(iv) for those sources that have received advanced distribution of emission allowances under paragraph (3)(B), the repayment periods that the Administrator has specified pursuant to paragraph

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(B) is true and accurate; ‘‘(iv) for those sources that have received advanced distribution of emission allowances under paragraph (3)(B), the repayment periods that the Administrator has specified pursuant to paragraph

(v) such other requirements as may be necessary to govern the advanced distribution of emission allowances between the Administrator and the owner or operator of the planned project, subject to the requirements of this subsection.

(i) IN GENERAL.—An owner or operator may elect not to request a certification on the eligibility of a planned project under subparagraph (A) prior to the commercial operation of the project.

(ii) DETERMINATION BY ADMINISTRATOR.—If an owner or operator elects not to request a certification under clause

(i), the Administrator shall make a determination regarding whether the project satisfies the eligibility requirements of subsection (c) at the time that the Administrator makes a determination regarding the annual distribution of emission allowances under paragraph (3)(A).

(i) IN GENERAL.—For each project that receives a certification of eligibility under paragraph (1), the Administrator shall reserve on a first-come, first-served basis a portion of the emission allowances that are allocated for the deployment of carbon capture and permanent sequestration technology under section 781(c)(1).

(ii) DETERMINATION.—The reservation of emission allowances for a particular eligible project under this paragraph shall be equal to the number of emission allowances that the project would be entitled to receive under the applicable distribution method under this section upon commercial operation of the carbon capture and permanent sequestration technology, as determined by the Administrator based on—

(II) the number of tons of carbon dioxide emissions projected to be avoided through the use of carbon capture and permanent sequestration technologies during each calendar year under paragraph (1)(B)(i)(II); and

(III) a discount rate to account for the increase in the monetary inflation that may be expected to occur during each of the relevant 10 calendar years, as determined by the Administrator.

(i) IN GENERAL.—A reservation of emission allowances for a particular project under subparagraph (A) shall terminate if the Administrator determines that the owner or operator has failed to achieve a reasonable number of milestones for commencing construction or commercial oper ation of the project, as specified under paragraph (1)(B)(i)(III).

(ii) REDUCED QUANTITY OF CARBON DIOXIDE CAPTURED AND SEQUESTERED.— If the quantity of carbon dioxide emissions avoided through the operation of the carbon capture and permanent sequestration project on average over 3 consecutive calendar years is less than the quantity specified for those calendar years under subparagraph (A), the reservation of emission allowances for the project under subparagraph (A) shall be reduced for future years by the difference between—

(I) the quantity of carbon dioxide emissions avoided through operation of the carbon capture and permanent sequestration project on average over the applicable 3 consecutive years; and

(iii) AVAILABILITY.—The Administrator shall immediately make available to other eligible projects emission allowances for which the Administrator has terminated an emission allowance reservation for a particular project under this subparagraph.

(i) IN GENERAL.—The Administrator shall distribute the emission allowances to eligible projects on an annual basis.

(ii) BASIS.—The annual distribution of emission allowances shall be based on the total tons of carbon dioxide emissions avoided through operation of the carbon capture and permanent sequestration project during each of the first 10 years of commercial operation, in accordance with subsection (c)(2).

(iii) TOTAL DISTRIBUTION AMOUNT.—The total amount of emission allowances distributed to an eligible project for each of the first 10 years of commercial operation may be greater than, or less than, the quantity of emissions allowances that the Administrator has reserved for the eligible project under paragraph (2).

(I) IN GENERAL.—Except as provided in subparagraph (B), the Administrator shall make each annual distribution of emission allowances by not later than 90 days after the date on which the owner or operator of a project submits to the Administrator a report regarding the tons of carbon dioxide emissions avoided for that year through operation of the carbon capture and permanent sequestration project.

(II) REQUIREMENT.—A report under subclause (I) shall be verified in accordance with regulations to be promulgated by the Administrator.

(i) IN GENERAL.—The Administrator may provide an advanced distribution of emission allowances to the projects—

(I) that receive emission allowances under the phase I distributions authorized by subsection (d); and

(II) for which the Administrator has issued a certification of eligibility under paragraph (1).

(ii) REQUIREMENTS.—An advanced distribution of emission allowances for a particular project shall be provided—

(I) prior to the operational phase of the project, at an appropriate milestone that best ensures the expeditious deployment of the carbon capture and permanent sequestration technology, as determined by the Administrator;

(II) in a quantity that equals a percentage, as specified in subparagraph (C), of the total number of emission allowances that the Administrator has reserved for that project during the 10-year period of commercial operation; and

(bb) if the emission allowances are exhausted from the current vintage year, in order from successive vintage years, beginning with the most proximate future vintage year.

(I) IN GENERAL.—The owner or operator of a planned project that receives an advanced distribution of emission allowances shall submit to the Administrator, not later than days after the end of each calendar year, a report describing the tons of carbon dioxide emissions avoided for that year through operation of the carbon capture and permanent sequestration project , compared to the total tons of carbon dioxide emissions generated by the unit on which the planned project is implemented.

(II) REQUIREMENT.—A report under subclause (I) shall be verified in accordance with regulations promulgated by the Administrator.

(III) AVOIDANCE OF DUPLICATIVE REPORTING.—If the unit on which a planned project is implemented already submits the information required by subclause (I) to the Administrator pursuant to another reporting requirement, the owner or operator of the planned project may refer the Administrator to the other submission in which the required information is provided.

(ii) and (iii), the Administrator shall apply the following percentages for determining the advanced distribution of emission allowances:

(I) 70 percent of the emission allowance reservation for the first tranche under subsection (d)(2)(A).

(II) 50 percent of the emission allowance reservation for the second tranche under subsection (d)(2)(B).

(ii) COSTS LESS THAN VALUE OF ALLOWANCES.—If the costs described in clause (iii) are less than the monetary value of allowances represented by the percentages described in clause (i) at the time of advanced distribution, the advanced distribution shall be limited to an amount that is equivalent to the costs described in clause (iii).

(I) IN GENERAL.—For retrofit projects, the advanced distribution shall equate to 100 percent of the costs of permitting, design or engineering, labor, materials, land, and equipment associated with the construction and installation of the system to capture, compress, transport, and store carbon dioxide (including design changes to the associated generating unit needed to accommodate the carbon dioxide capture and compression system).

(aa) the advanced distribution shall equate to 100 percent of the incremental permitting, design or engineering, labor, materials, land, and equipment cost differences between—

(BB) a new coal power plant without carbon capture and storage in the location where the new coal power plant is being constructed, and for the same intended service territory absent carbon capture and storage; and

(bb) it shall be the responsibility of the organization that is requesting advanced distributions to provide to the Administrator a cost estimate for both the new coal power plant with carbon capture and storage and a new coal power plant without carbon capture and storage.

(III) REDUCTION.—For the purposes of this subparagraph, the costs under this clause shall be reduced by the amounts documented under paragraph (1)(B)(i)(V).

(i) IN GENERAL.—In the case of a project that receives an advanced distribution of emission allowances under this paragraph, the Administrator shall distribute annually the remainder of emission allowances reserved under paragraph (2) once the carbon capture and permanent sequestration technology begins commercial operation.

(ii) TIMING OF DISTRIBUTION.—The annual distribution of emission allowances under clause (i) shall take place not later than 60 days after the end of each calendar year.

(iii) CALCULATION OF REMAINING DISTRIBUTION.—Subject to clauses (iv) and (v), the remaining distribution referred to in clause (i) shall annually be calculated upward or downward as the difference between—

(I) the number of allowances that were reserved for the project in the relevant calendar year under paragraph (2)(A)(ii)(II); and

(II) the number of allowances that the project would be eligible to receive under the bonus allowance formula described in subsection

(c)(2)(B)(i) based on the tons of carbon dioxide emissions that were avoided through operation of the carbon capture and permanent sequestration project during the relevant calendar year.

(iv) NUMBER OF ALLOWANCES.—For purposes of clauses (iii)(II) and (viii)(I), for the purposes of calculating the number of allowances under subsection

(c)(2)(B)(i), the Administrator shall enter the average fair market value of emission allowances in the year specified under subsection (c)(2)(B)(i)(II)(bb).

(I) IN GENERAL.—If, in any calendar year, the number of tons of carbon dioxide emissions projected to be avoided for that year under paragraph (1)(B)(i)(III) is greater than the number of tons of carbon dioxide emissions that were actually avoided by a project during that year, based on the report submitted to the Administrator under paragraph (3)(B)(iii), the difference may be accounted for by—

(aa) the owner or operator of the project capturing and storing an additional quantity of emissions that cumulatively exceeds the difference between—

(AA) the number of tons of carbon dioxide emissions that were projected to be avoided for the relevant calendar year under paragraph (1)(B)(i)(II); and

(BB) the number of tons of carbon dioxide emissions that were actually avoided through operation of the project during that year;

(bb) the Administrator adjusting the annual distributions under clause (iii), on the condition that the reduction shall be sufficient to account for the difference described in this subclause within the period specified by the Administrator in subclause (II); or

(cc) the owner or operator of the project making a repayment in accordance with clause

(II) PERIOD.—Compliance with subclause (I)(aa) shall occur over a period to be specified by the Administrator, but not to exceed 18 months.

(III) INTEREST.—The Administrator may apply an appropriate rate of interest to the repayment requirement under this clause.

(vi) ALTERNATE REPAYMENT BY ALLOWANCES OR CASH.—If the owner or operator of the project elects to comply by repaying in accordance with clause

(v)(I)(aa), during the period specified by the Administrator under clause (v)(II), the owner or operator shall repay the Administrator an amount of allowances or cash (as calculated under clause (viii)) if—

(I) the number of tons of carbon dioxide emissions that were actually avoided through operation of the project during that period is less than the number necessary to rectify the difference described in clause (v)(I); and

(II) the number of allowances remaining reserved for a project is insufficient to adjust for the difference under clause (iii).

(vii) MILESTONES.—If the Administrator determines that the owner or operator failed to achieve a milestone for commencing construction or commercial operation of the project (as specified in paragraph (1)(B)), the owner or operator shall repay the Administrator an amount of allowances or cash calculated under clause

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(viii). ‘‘(viii) CALCULATION.—The repayments required under clauses (vi)(I) and

(vii) shall be equal to, at the option of the owner or operator of the project—

(I) the difference between the numbers of allowances described in subclauses (I) and (II) of clause (iii); or

(II) a cash payment in an amount equal to the product obtained by multiplying—

(aa) the difference between the numbers of allowances described in subclauses (I) and (II) of clause (iii); and

(bb) the average fair market value of an emission allowance during the year in which the repayment would be made under clause (vi).

(ix) USE OF REPAID AMOUNTS.—The Administrator shall use amounts received as repayments under this subparagraph to support the deployment of carbon capture and permanent sequestration.

(1) IN GENERAL.—Emission allowances shall be distributed under this section only for tons of carbon dioxide emissions that are captured and sequestered in accordance with this section.

(2) PERIOD.—A qualifying project may receive annual emission allowances under this section only for the first 10 years of operation.

(A) IN GENERAL.—Approximately gigawatts of total cumulative treated generating capacity may receive emission allowances under this section.

(B) ALLOWANCE SURPLUS.—On reaching the cumulative capacity described in subpara graph (A), any emission allowances that are allocated for carbon capture and permanent sequestration deployment under section 781(c)(1) and are not yet obligated under this section shall be treated as emission allowances not designated for distribution for purposes of section 781.

(j) EXHAUSTION OF ACCOUNT AND ANNUAL ROLLOVER OF SURPLUS EMISSION ALLOWANCES.—

(1) IN GENERAL.—In distributing emission allowances under this section, the Administrator shall ensure that eligible projects receive distributions of emission allowances for the first 10 years of commercial operation.

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(i) IN GENERAL.—Subject to clause

(ii), if the Administrator determines that the emission allowances allocated under

Section 781(c)(1) with a vintage year that matches the year of distribution will be exhausted once the estimated full 10-year distributions will be provided to current eligible participants, the Administrator shall provide to new eligible projects emission al lowances from vintage years after the year of the distribution.

(ii) TIMING.—The Administrator may not transfer the allowance value for a future vintage year allowance to the eligible participant under clause (i) until the last year in which the Administrator auctions, pursuant to section 790, allowances of that vintage year.

(B) DIVERSITY FACTORS.—If the Administrator provides allowances to new eligible projects under subparagraph (A), the Administrator shall promulgate regulations to prioritize new eligible projects that are distinguished from prior recipients of allowances by 1 or more of the following diversity factors (without regard to order):

(i) Location in a coal-producing region that provides a majority of coal to the project.

Sec. 1432. CARBON CAPTURE AND SEQUESTRATION DEPLOYMENT STUDIES. Part G of title VII of the Clean Air Act (as added by section 2101) is amended by inserting after section the following: ‘‘SEC. 789. CARBON CAPTURE AND SEQUESTRATION DEPLOYMENT STUDIES.

(1) IN GENERAL.—The Comptroller General of the United States shall conduct and complete a study in accordance with this subsection not later than the earlier of—

(B) the date that is 1 year after the date on which the Administrator determines that allowances distributed under section 781(c)(1) are becoming insufficient to meet requests for the allowances under section 794, if, by the date of the determination by the Administrator, there are in operation in the United States electricity generating units or other stationary sources equipped with carbon capture and permanent sequestration technology that, in the aggregate, have a total of less than gigawatts of capacity.

(A) conduct a study of the state of carbon capture and sequestration technology and barriers to the deployment of the technology, including price competitiveness, regulatory requirements or uncertainty, and technical challenges; and

(B) submit to Congress, the Administrator, and the Secretary a report on the results of the study, including recommendations regarding potential measures that could be effective in addressing the barriers described in subparagraph (A) and increasing the aggregate quantity of capacity deploying carbon capture and permanent sequestration technology in the United States to at least 72 gigawatts, including an assessment of the impact of providing an additional allocation of bonus allowances for the deployment of the technology.

(b) ADDITIONAL ALLOWANCES.—Based on a study conducted under this section, the Secretary may direct the Administrator, effective beginning in 2035 and for not more than 5 calendar years at a time, as appropriate—

(1) to increase the quantity of allowances allocated pursuant to section 781(c)(1) by not more than 2.5 percent of the total quantity of allowances established under section 721 for a vintage year; and

(2) to reduce the quantity of allowances provided under section 781(a)(5) by an equivalent quantity.

(c) CONGRESSIONAL ACTION.—If, during the 90- day period beginning on the date of an action of the Secretary under subsection (b), a law is enacted that overrides or revises the percentage of allowances specified by the Secretary under subsection (b), the Secretary shall rescind or revise the direction of the Secretary to the Administrator in accordance with the law.

(d) EFFECT ON OTHER PROVISIONS.—Any provision of this title that refers to a quantity or percentage of the emission allowances established for a calendar year under section 721(a) shall be considered to refer to the quantity of emission allowances determined under section 721(e), less any emission allowances established for that year that are allocated as a result of action taken under this section.

(1) IN GENERAL.—If the Administrator increases allocations pursuant to subsection (c), the Comptroller General shall review and revise the most recent study prepared under this section not later than May 1 of the calendar year prior to the latest vintage year for which the Administrator has been directed to increase allowances.

(2) ADDITIONAL ALLOWANCES.—Based on the study, the Secretary may direct the Administrator to increase allowances in the manner prescribed in this section for not more than an additional 5 calendar years or until 2050, whichever is earlier.’’. PART IV—PERFORMANCE STANDARDS

Sec. 1441. PERFORMANCE STANDARDS FOR COAL-FIRED POWER PLANTS. The Clean Air Act (42 U.S.C. 7401 et seq.) (as amended by section 2001) is amended by adding at the end the following: ‘‘TITLE VIII—GREENHOUSE GAS STANDARDS ‘‘SEC. 800. DEFINITIONS. ‘‘The terms used in this title and defined in title VII, except for the term ‘stationary source’, have the meanings given those terms in title VII. ‘‘SEC. 801. PERFORMANCE STANDARDS FOR NEW COALFIRED POWER PLANTS.

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(a) DEFINITIONS.—In this section:

(B) authorized under Federal or State law to derive at least 30 percent of the annual heat input of the unit from—

(A) IN GENERAL.—The term ‘initially permitted’, with respect to a covered EGU, means that—

(i) the owner or operator of the covered EGU has received a preconstruction approval or permit under this Act as a new

(ii) administrative review or appeal of the approval or permit has not been exhausted.

(B) CALCULATION.—A subsequent modification of any approval or permit described in subparagraph (A), ongoing administrative or court review, appeal, challenge, or the existence or tolling of any time to pursue additional review, appeal, or challenge shall not affect the date on which a covered EGU is considered to be initially permitted for purposes of this paragraph.

(1) IN GENERAL.—A covered EGU that is initially permitted on or after January 1, 2020, shall—

(A) achieve an emission limitation that represents at least a 65-percent reduction in emissions of the carbon dioxide produced by the covered EGU, as measured on an annual basis; or

(B) meet such more-stringent standard as the Administrator may establish pursuant to subsection (c).

(A) IN GENERAL.—A covered EGU that is initially permitted during the period beginning on January 1, 2009, and ending on December 31, 2019, shall achieve, by the applicable compliance date established under this paragraph, an emission limitation that represents at least a 50-percent reduction in emissions of the carbon dioxide produced by the covered EGU, as measured on an annual basis.

(B) DATE OF REQUIREMENT.—Compliance with the requirement described in subparagraph (A) shall be required by the earlier of—

(i) the date that is 4 years after the date on which the Administrator has published pursuant to subsection (d) a report that there are in commercial operation in the United States electric generating units or other stationary sources equipped with carbon capture and permanent sequestration technology that, in the aggregate—

(I) have a total of at least gigawatts of capacity (including at least 3 gigawatts that shall be through electric generating units, and up to 1 gigawatt that may be through industrial applications (for which capture and permanent sequestration of 3,000,000 tons of carbon dioxide per year on an aggregate annualized basis shall be considered equivalent to gigawatt)), measured as the sum of—

(aa) the treated generating capacity for electric generating unit retrofits and industrial sources; and

(II) include at least 3 electric generating units, each with a nameplate generating capacity of megawatts or greater, that capture, inject, and sequester carbon dioxide into geological formations other than oil and gas fields; and

(III) are capturing and sequestering at least 12,000,000 tons of carbon dioxide per year, calculated on an aggregate annualized basis; or

(A) IN GENERAL.—Not later than June 30, 2017, the Administrator and the Secretary of Energy shall jointly prepare and submit to Congress a review of the status of commercial deployment of carbon capture and permanent sequestration technology that specifies—

(i) the number and size of units in the United States that are capturing and permanently sequestering carbon dioxide;

(ii) the tons of carbon dioxide being captured and permanently sequestered by those units; and

(iii) the geographical and technological diversity represented by those units and that technology.

(B) FINDING.—To accompany the report under subparagraph (A), the Administrator and the Secretary of Energy shall make a finding that, in light of the status of commercial deployment of carbon capture and permanent sequestration technology, the applicable date specified in paragraph (2)(B)(ii) should—

(C) CONDITIONS FOR EXTENSION.—The applicable date specified in paragraph (2)(B)(ii) shall be extended to January 1, 2022, only if—

(i) the Administrator and the Secretary jointly find, pursuant to subparagraph (B), that the extension should occur; and

(A) IN GENERAL.—If the deadline for compliance with paragraph (2) is the applicable date specified in paragraph (2)(B)(ii), the Administrator may extend the deadline for compliance by a covered EGU by not more than months if the Administrator makes a determination, based on a showing by the owner or operator of the covered EGU, that it will be technically infeasible for the covered EGU to meet the standard by that date.

(B) REQUEST.—To be eligible for an extension, an owner or operator of a covered EGU shall submit to the Administrator a request for an extension under subparagraph (A) by not later than June 1, 2018.

(C) PUBLIC COMMENT.—The Administrator shall provide for public notice and com ment on each extension request submitted under subparagraph (B).

(c) REVIEW AND REVISION OF STANDARDS.—Not later than the date specified in subsection (b)(2)(B), and not less frequently than once every 5 years thereafter, the Administrator shall—

(2) by rule, reduce the maximum carbon dioxide emission rate for new covered EGUs to a rate that reflects the degree of emission limitation achievable through the application of the best system of emission reduction that (taking into account the cost of achieving the reduction and any nonair quality health and environmental impact and energy requirements) the Administrator determines has been adequately demonstrated.

(d) REPORTS.—Not later than the date that is months after the date of enactment of this title, and semiannually thereafter, the Administrator shall publish a report on the nameplate capacity of units (determined pursuant to subsection (b)(2)(A)) in commercial operation in the United States equipped with carbon capture and storage technology, including the information described in subsection (b)(2)(A) (including the cumulative generating capacity to which carbon capture and storage retrofit projects meeting the criteria described in section 794(c)(1)(A) has been applied and the quantities of carbon dioxide captured and sequestered by those projects).

(e) REGULATIONS.—Not later than 2 years after the date of enactment of this title, the Administrator shall promulgate regulations to carry out this section. ‘‘SEC. 802. COAL-FUELED FLEET TRANSITION PROGRAM.

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(a) PURPOSES.—The purposes of this section are—

(1) to promote and accelerate the transition of existing coal-fueled power plants to lower greenhouse gas emissions and use of more energy efficient technologies beyond what would reasonably be expected to occur considering the legal requirements of this Act; and

(A) during the period before advanced coal technologies coupled with carbon capture and storage become commercially available on a widespread basis, greater generation efficiency can achieve greenhouse gas reductions;

(B) advance planning is required for unit retirements, retrofits, and the development of new generating options;

(C) the reliability of electric service is a national priority and must be ensured in the process of converting and replacing coal-fueled generating units; and

(D) to achieve the purposes of this section, financial and regulatory incentives, including expedited proceedings, should be considered and implemented, as appropriate, to support—

(ii) retrofits that significantly reduce greenhouse gas emissions to the atmosphere; and

(iii) conversions of existing coalfueled power plants to alternative fuel sources with significantly lower greenhouse gas emissions.

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(b) DEFINITIONS.—In this section:

(1) COAL.—The term ‘coal’ means solid fuel classified as anthracite, bituminous, sub-bituminous, or lignite by the American Society and Testing and Materials, Designation D388-77.

(2) EXISTING COAL-FUELED POWER PLANT.— The term ‘existing coal-fueled power plant’ meansany steam generating unit of more than øll ¿ megawatts that—

(A) derives at least ø85¿ percent of the annual heat input of the unit from coal, petroleum coke, or any combination of those fuels; and

(3) PETROLEUM COKE.—The term ‘petroleum coke’ means a carbonization product of high-boiling hydrocarbon fractions obtained in petroleum processing (including heavy residues), typically from coker and other cracking processes. ø(c) DEPRECIATION AND INVESTMENT TAX CREDITS.—Amendment of the Internal Revenue Code to provide for accelerated depreciation under section 168 as follows [insert method] and an investment tax credit of [xx] percent for replacements or retrofits of existing coal-fueled power plants that result in a significant decrease in greenhouse gas emissions as measured on a pounds of carbon dioxide per megawatt hour rate basis when compared to the greenhouse gas emissions from the existing coal-fueled power plant and that would not have occurred for another [xx] years, if then, without such financial incentives. øNote: This provision contains a number of issues, including appropriate design of tax incentives, to be discussed.¿¿

(1) ESTABLISHMENT OF TASK FORCE.—As soon as practicable, but not later than 90 days after the date of enactment of this title, the Administrator shall establish a task force (referred to in this section as the ‘task force’) to be composed of representatives from the Environmental Protection Agency, the Department of Energy, the Department of the Treasury, State public utility commissions, other relevant Federal, State, and local agencies, the electricity generating sector, and nongovernmental organizations, to conduct a study of—

(A) existing programs established by Federal and State environmental laws (including regulations) that apply to the siting, permitting, and operation of new, modified, and existing electricity generating units, and the effect the programs may have on the pace and extent of the transition of the existing coal-fueled power plants to significantly lower greenhouse gas emitting technologies or the retirement of existing coal-fueled power plants in the fleet;

(B) the effects of an exemption from sections 111(d), 112, and 169(1) with regard to the installation of additional pollution control equipment at 1 or more electric generating units that commenced initial operation afterDecember 31, 19øll ¿, and commits within a specified period to permanently cease operations for the generation of electricity not later thanDecember 31, 20øll ¿, on the ability of electric generators to significantly reduce greenhouse gas emissions from the generating system as a whole more rapidly and efficiently, while maintaining the reliability of electric service, than would likely occur without such an exemption;

(C) Federal regulations currently under development for control of power plant air pollutants other than greenhouse gases, and the potential effect the regulations may have on—

(iii) the transition of existing coalfueled power plants to cleaner generation; and

(iv) the application of the programs described in subparagraph (A), including consideration of how the programs could be streamlined in light of the prospective regulatory requirements while contributing to reductions in public health risks resulting from the pollutants;

(D) financial incentives (such as incentives described in paragraph (2)), including—

(i) the award of allowances for early closure of existing coal-fueled power plants; and

(ii) regulatory changes that would facilitate and accelerate the retirement of existing coal-fueled power plants or the transition of existing coal-fueled power plants to lower greenhouse gas-emitting technologies or fuel sources in a manner that addresses needed control of other air pollutants; and

(E) the effect on employment in the energy sector of providing the incentives identified pursuant to subparagraphs (B), (C) and (D), and means by which any adverse effects could be ameliorated.

(2) FINANCIAL INCENTIVES FOR COAL FLEET TRANSITION.—In conducting the study under this subsection, the task force shall consider whether the following types of financial incentives would be appropriate for achieving the purposes of this section:

(A) Tax incentives in addition to, or different than, the credits authorized under sectionølll ¿ of the Internal Revenue Code of 1986 (as added by subsection (c)).

(B) Allowances, in addition to those available under section 798, for the retirement of existing coal-fueled power plants if—

(i) the units are retired during theperiod beginning on January 1, 20øll ¿,and ending on December 31, 20øll15 ,¿ pursuant to an enforceable commitmentmade by January 1, 201øll ¿;

(ii) the allowances are used for the replacement of electric generation or the construction of new electric generation that results in a significant decrease of at leastøll ¿ percent in greenhouse gas emissions as measured on a pounds of carbon dioxide per megawatt hour rate basis when compared to the greenhouse gas emissions from existing coal-fueled power plants; and

(iii) any increase in plant value and income as a result of the replacement or construction are used for the benefit of retail ratepayers.

(3) REPORT.—Not later than 1 year after the date of enactment of this title, the task force shall submit to the Committee of Energy and Commerce of the House of Representatives and the Committee on Environment and Public Works of the Senate a report that describes the results of the study conducted under this subsection, including any consensus recommendations of the task force.

(1) IN GENERAL.—The Administrator, the Secretary of Energy, and the Secretary of the Treasury shall—

(A) not later than øll ¿ days after the date of submission of the report required under subsection (d)(3), publish a response to the report, including any proposed changes to regulations or guidance to implement 1 or more of the recommendations of the task force and to achieve the purposes of this Act , consistent with existing authority and obligations; and

(B) not later than øll ¿ days after the publication of the report, but in no case laterthan øll ¿ months after the date of enactment of this title, promulgate final regulations or guidance to implement the proposed changes described in subparagraph (A).

(2) PROJECT REVIEW.—Any Federal agency that issues permits or approvals for the authorization of projects covered by this section shall expedite, to the maximum extent practicable, the process for submitting, considering, and taking any required action for the projects.’’. Subtitle D—Renewable Energy and Energy Efficiency

(1) large-scale deployment of renewable energy and substantial improvement in energy efficiency are critical to the purposes of this Act and the amendments made by this Act, including—

(2) to accelerate progress in those areas, measures (in addition to the measures established under this Act and the amendments made by this Act) are necessary, including—

(B) innovative mechanisms to provide affordable funding for deployment of renewable technologies and other clean energy technologies;

(C) transmission provisions to allow electricity to flow freely from areas of great renewable energy potential to load centers;

Sec. 1602. RURAL ENERGY SAVINGS PROGRAM. Subtitle D of the Consolidated Farm and Rural Development Act is amended by adding after section 365 ( U.S.C. 2008) the following ‘‘SEC. 366. RURAL ENERGY SAVINGS PROGRAM.

(a) PURPOSE.—The purpose of this section is to create and save jobs by providing loans to qualified consumers that will use the loan proceeds to implement energy efficiency measures to achieve significant reductions in energy costs, energy consumption, or greenhouse gas emissions.

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(b) DEFINITIONS.—In this section:

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(3) ELIGIBLE ENTITY.—The term ‘‘eligible entity’’ means—

(A) any public power district, public utility district, or similar entity, or any electric cooperative described in sections 501(c)(12) or 1381(a)(2) of the Internal Revenue Code of 1986, that borrowed and repaid, prepaid, or is paying an electric loan made or guaranteed by the Rural Utilities Service (or any predecessor agency); or

(B) any entity primarily owned or controlled by an entity or entities described in subparagraph (A).

(2) ENERGY EFFICIENCY MEASURES.—The term ‘energy efficiency measures’ means, for or at property served by an eligible entity, structural improvements and investments in cost-effective, commercial off-the-shelf technologies to reduce home energy use.

(3) QUALIFIED CONSUMER.—The term ‘qualified consumer’ means a consumer served by an eligible entity that has the ability to repay a loan made under subsection (e), as determined by an eligible entity.

(4) QUALIFIED ENTITY.—The term ‘qualified entity’ means a nongovernmental, not-for-profit organization that the Secretary determines has significant experience, on a national basis, in providing eligible entities with—

(A) energy, environmental, energy efficiency, and information research and technology;

(D) advice in legal and regulatory matters affecting electric service and the environment; and

(5) SECRETARY.—The term ‘Secretary’ means the Secretary of Agriculture, acting through the Rural Utilities Service.

(c) DISTRIBUTION.—Not later than September of each of calendar years 2012 through 2015, the Administrator shall, in accordance with this section, distribute allowances allocated pursuant to section 781(c)(5)(B) of the Clean Air Act for the following vintage year.

(1) LOANS AUTHORIZED.—Subject to paragraph (2), the Secretary shall make loans to eligible entities that agree to use the loan funds to make loans to qualified consumers as described in subsection (e) for the purpose of implementing energy efficiency measures.

(A) IN GENERAL.—As a condition of receiving a loan or grant under this subsection, an eligible entity shall—

(i) establish a list of energy efficiency measures that are expected to decrease energy use or costs of qualified consumers;

(iii) provide for appropriate measurement and verification to ensure the effectiveness of the energy efficiency loans made by the eligible entity and that there is no conflict of interest in carrying out this section.

(B) REVISION OF LIST OF ENERGY EFFICIENCY MEASURES.—An eligible entity may update the list required under subparagraph

(A)(i) to account for newly available efficiency technologies, subject to the approval of the Secretary.

(C) EXISTING ENERGY EFFICIENCY PROGRAMS.—An eligible entity that, on or before the date of the enactment of this section or not later than 60 days after that date, has already established an energy efficiency program for qualified consumers may use an existing list of energy efficiency measures, implementation plan, or measurement and verification system of that program to satisfy the requirements of subparagraph (A) if the Secretary determines the list, plans, or systems are consistent with the purposes of this section.

(4) REPAYMENT.—A loan under this subsection shall be repaid not more than 10 years after the date on which an advance on the loan is first made to the eligible entity.

(5) LOAN FUND ADVANCES.—The Secretary shall provide eligible entities with a schedule of not more than 10 years for advances of loan funds, except that any advance of loan funds to an eligible entity in any single year shall not exceed 50 percent of the approved loan amount.

(6) JUMP-START GRANTS.—The Secretary shall make grants available to eligible entities selected to receive a loan under this subsection in order to assist an eligible entity to defray costs, including costs of contractors for equipment and labor, except that no eligible entity may receive a grant amount that is greater than 4 percent of the loan amount.

(1) TERMS OF LOANS.—Loans made by an eligible entity to qualified consumers using loan funds provided by the Secretary under subsection (d)—

(A) may bear interest, not to exceed percent, to be used for purposes that include establishing a loan loss reserve and to offset personnel and program costs of eligible entities to provide the loans;

(B) shall finance energy efficiency measures for the purpose of decreasing energy usage or costs of the qualified consumer by an amount such that a loan term of not more than 10 years will not pose an undue financial burden on the qualified consumer, as determined by the eligible entity;

(D) shall be repaid through charges added to the electric bill of the qualified consumer; and

(E) shall require an energy audit by an eligible entity to determine the impact of proposed energy efficiency measures on the energy costs and consumption of the qualified consumer.

(2) CONTRACTORS.—In addition to any other qualified general contractor, eligible entities may serve as general contractors.

(f) CONTRACT FOR MEASUREMENT AND VERIFICATION, TRAINING, AND TECHNICAL ASSISTANCE.—

(1) CONTRACT REQUIRED.—Not later than days after the date of enactment of this section, the Secretary shall enter into 1 or more contracts with a qualified entity for the purposes of—

(i) developing and completing a recommended protocol for measurement and verification for the Rural Utilities Service;

(ii) establishing a national measurement and verification committee consisting of representatives of eligible entities to assist the contractor in carrying out this section;

(iii) providing measurement and verification consulting services to eligible entities that receive loans under this section; and

(B) developing a program to provide technical assistance and training to the employees of eligible entities to carry out this section.

(2) USE OF SUBCONTRACTORS AUTHORIZED.—A qualified entity that enters into a contract under paragraph (1) may use subcontractors to assist the qualified entity in performing the contract.

(1) DEMONSTRATION PROJECTS REQUIRED.— The Secretary shall enter into agreements with eligible entities (or groups of eligible entities) that have energy efficiency programs described in subsection

(d)(2)(C) to establish energy efficiency loan demonstration projects consistent with the purposes of this section that—

(A) implement approaches to energy audits and investments in energy efficiency measures that yield measurable and predictable savings;

(B) use measurement and verification processes to determine the effectiveness of energy efficiency loans made by eligible entities;

(C) include training for employees of eligible entities, including any contractors of the entities, to implement or oversee the activities described in subparagraphs (A) and (B);

(D) provide for the participation of a majority of eligible entities in a State;

(i) not fewer than 20,000 consumers, in the case of a single eligible entity; or

(ii) not fewer than 80,000 consumers, in the case of a group of eligible entities; and

(2) DEADLINE FOR IMPLEMENTATION.—The agreements required by paragraph (1) shall be entered into not later than 90 days after the date of enactment of this section.

(3) EFFECT ON AVAILABILITY OF LOANS NATIONALLY.—Nothing in this subsection shall delay the availability of loans to eligible entities on a na tional basis beginning not later than 180 days after the date of enactment of this section.

(A) IN GENERAL.—The Secretary may conduct demonstration projects in addition to the project required by paragraph (1).

(B) ADMINISTRATION.—The additional demonstration projects may be carried out without regard to subparagraphs (D), (F), or (G) of paragraph (1).

(h) ADDITIONAL AUTHORITY.—The authority provided in this section shall be in addition to any authority of the Secretary to offer loans or grants under any other law.

(1) IN GENERAL.—Except as otherwise provided in this subsection, not later than 180 days after the date of enactment of this section, the Secretary shall promulgate such regulations as are necessary to implement this section.

(2) PROCEDURE.—The promulgation of the regulations and administration of this section shall be made without regard to—

(A) chapter 35 of title 44, United States Code (commonly known as the ‘Paperwork Reduction Act’); and

(36 Fed. Reg. 13804), relating to notices of proposed rulemaking and public participation in rulemaking.

(3) CONGRESSIONAL REVIEW OF AGENCY RULEMAKING.—In carrying out this section, the Secretary shall use the authority provided under section 808 of title 5, United States Code.

(4) INTERIM REGULATIONS.—Notwithstanding paragraphs (1) and (2), to the extent regulations are necessary to carry out any provision of this section, the Secretary shall implement such regulations through the promulgation of an interim rule.

(j) AUTHORIZATION OF APPROPRIATIONS.—There are authorized to be appropriated to carry out this section such sums as are necessary.’’.

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(i) AUTHORIZATION.—There are authorized to be appropriated such sums as are necessary to carry out this section.

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(a) DEFINITIONS.—In this section:

(1) ALLOWANCE.—The term ‘‘allowance’’ means an emission allowance established under section 721 of the Clean Air Act.

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(1) ALLOWANCE.—The term ‘‘allowance’’ means an emission allowance established under section 721 of the Clean Air Act.

(2) COST-EFFECTIVE.—The term ‘‘cost-effective’’, with respect to an energy efficiency program, means that the program meets the total resource cost test, which requires that the net present value of economic benefits over the life of the program or measure, including avoided supply and delivery costs and deferred or avoided investments, is greater than the net present value of the economic costs over the life of the program, including program costs and incremental costs borne by the energy consumer.

(3) RENEWABLE ENERGY RESOURCE.—The term ‘‘renewable energy resource’’ has the meaning given the term in section 782 of the Clean Air Act.

(4) VINTAGE YEAR.—The term ‘‘vintage year’’ has the meaning given the term in section 700 of the Clean Air Act.

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(3) VINTAGE YEAR.—The term ‘‘vintage year’’ has the meaning given the term in section 700 of the Clean Air Act.

(1) IN GENERAL.—Not later than September 30 of each of calendar years 2012 through 2021, the Administrator shall, in accordance with this section, distribute allowances allocated pursuant to section 781(c)(5)(C) of the Clean Air Act for the following vintage year.

(2) INDIAN TRIBES.—The Administrator shall distribute 0.5 percent of the allowances described in paragraph (1) to Indian tribes, on a competitive basis, to carry out renewable energy and energy efficiency programs, as determined by the Administrator.

(3) STATES.—The Administrator shall distribute the remaining allowances to States, in accordance with paragraph (4), to carry out for renewable energy and energy efficiency programs, as determined by the Administrator.

(4) STATE ALLOCATION.—The Administrator shall distribute allowances among the States under this section for each year in accordance with the following formula:

(B) 1/3 of the allowances shall be distributed ratably among the States based on the population of each State, as contained in the most recent reliable census data available from the Bureau of the Census of the Department of Commerce, for all States at the time the Ad ministrator calculates the formula for distribution.

(C) 1/3 of the allowances shall be distributed ratably among the States on the basis of the energy consumption of each State, as contained in the most recent State Energy Data Report available from the Energy Information Administration (or such alternative reliable source as the Administrator may designate).

(1) Energy efficiency purposes, including implementation of programs related to—

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(cc) implementation of building energy performance labeling;

(A) deployment of technologies to generate electricity from renewable energy sources; and

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(II) deployment of a diverse range of technologies to generate electricity from renewable energy sources; and

(B) deployment of facilities or equipment, such as solar panels, to generate electricity or thermal energy from renewable energy resources in and on buildings in an urban environment.

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(III) deployment of a diverse range of facilities or equipment, such as solar panels, to generate electricity or thermal energy from renewable energy resources in and on buildings in an urban environment.

(3) Cost-effective energy efficiency programs for end-use consumers of electricity, natural gas, home heating oil, or propane, including, if appropriate, programs or mechanisms administered by local governments and entities other than the State.

(as described in section 1301 of the Energy Independence and Security Act of 2007 (42 U.S.C. 17381)) for State, local government, and other public buildings and facilities, including integration of renewable energy resources and distributed generation, demand response, demand-side management, and systems analysis.

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(III) SMART GRID.—Enabling the development of a Smart Grid (as described in section 1301 of the Energy Independence and Security Act of 2007 (42 U.S.C. 17381)) for State, local government, and other public buildings and facilities, including integration of renewable energy resources and distributed generation, demand response, demand-side management, and systems analysis.

(5) Providing the non-Federal share of support for surface transportation capital projects under—

(A) sections 5307, 5308, 5309, 5310, and 5319 of title 49, United States Code; and

(B) sections 142, 146, and 149 of title 23, United States Code; except that not more than 10 percent of allowances distributed to each State pursuant to this section shall be used for the purposes described in this paragraph.

(d) SUPPLEMENTATION.—For any allowances used for the purposes described in subsection (c), the State shall—

(1) with respect to energy efficiency programs described in subsection (c)(3), prioritize expansion of existing energy efficiency programs approved and overseen by the State or the appropriate State regulatory authority; and

(2) demonstrate that the allowances have been used to supplement, and not to supplant, existing and otherwise available State, local, and ratepayer funding for the purpose.

(e) REPORTING.—Each State receiving allowances under this section shall include in biennial reports to the Administrator, in accordance with such requirements as the Administrator may prescribe—

(1) a list of entities receiving allowances or allowance value under this section, including entities receiving such allowances or allowance value from units of local government;

(2) the quantity and nature of allowances or allowance value received by each such recipient;

(3) the specific purposes for which such allowances or allowance value was conveyed to each such recipient;

(4) documentation of the quantity of energy savings, emission reductions, renewable energy deployment, and new or retooled manufacturing capacity resulting from the use of the allowances or allowance value; and

(5) a demonstration that the requirements described in subsection (d) have been satisfied.

(1) IN GENERAL.—If the Administrator determines that a State is not in compliance with this section, the Administrator may withhold up to twice the number of allowances that the State failed to use in accordance with this section, that the State would otherwise be eligible to receive under this section or

(2) REDISTRIBUTION.—Allowances withheld pursuant to this subsection shall be distributed among the remaining States in accordance with subsection (b).

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Sec. 103. VOLUNTARY RENEWABLE ENERGY MARKETS.

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(a) FINDINGS.—Congress finds that—

(1) voluntary renewable energy markets can be efficient and effective programs for allowing consumers and businesses to voluntarily use or support renewable energy;

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(1) voluntary renewable energy markets can be efficient and effective programs for allowing consumers and businesses to voluntarily use or support renewable energy;

(2) more than 1,000,000 businesses, households, government agencies, farms, and others voluntarily purchase renewable electricity or renewable energy certificates; and

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(2) more than 1,000,000 businesses, households, government agencies, farms, and others voluntarily purchase renewable electricity or renewable energy certificates; and

(A) totaled 24,000,000,000 kilowatt-hours during calendar year 2008, representing 0. percent of total United States electricity sales; and

(B) have increased at an average annual rate of 32 percent since calendar year 2004.

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(B) voluntary renewable energy purchases have increased at an average annual rate of percent since calendar year 2004.

(1) IN GENERAL.—It is the policy of the United States to support the continued growth of voluntary renewable energy markets.

(2) ADMINISTRATION.—Nothing in this Act or the amendments made by this Act is intended to interfere with or prevent the continued operation and growth of the voluntary renewable energy market.

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(2) that nothing in this Act or the amendments made by this Act is intended to interfere with or prevent the continued operation and growth of the voluntary renewable energy market.

(c) REPORT TO CONGRESS.—Not later than 2 years after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report describing the efficacy of the voluntary renewable energy market in the context of the pollution reduction and investment programs under this Act and the amendments made by this Act, including—

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(1) whether meaningful reductions in carbon dioxide emissions have occurred in response to investments in the voluntary renewable energy market;

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(1) whether meaningful reductions in carbon dioxide emissions have occurred in response to investments in the voluntary renewable energy market;

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(2) whether the voluntary market continues to grow; and

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(3) a list of recommended strategies for ensuring that—

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(A) meaningful emissions reductions may occur; and

(B) the voluntary renewable energy market may continue to grow. Subtitle E—Clean Transportation PART I—ELECTRIC VEHICLE INFRASTRUCTURE

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(h) NATIONAL TRANSPORTATION LOW-EMISSION ENERGY PLAN; PILOT PROGRAM.—

(a) NATIONAL TRANSPORTATION LOW-EMISSION ENERGY PLAN.—The Secretary, in consultation with relevant stakeholders, shall develop a national transportation lowemission energy plan that—

(1) projects the near- and long-term need for and location of electric drive vehicle refueling infrastructure at strategic locations across all major national highways, roads, and corridors;

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(A) projects the near- and long-term need for and location of electric drive vehicle refueling infrastructure at strategic locations across all major national highways, roads, and corridors;

(2) identifies infrastructure and standardization needs for electricity providers, infrastructure providers, vehicle manufacturers, and electricity purchasers;

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(B) identifies infrastructure and standardization needs for electricity providers, infrastructure providers, vehicle manufacturers, and electricity purchasers;

(3) establishes an aspirational goal of achieving strategic deployment of electric vehicle infrastructure by January 1, 2020;

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(C) establishes an aspirational goal of achieving strategic deployment of electric vehicle infrastructure by January 1, 2020;

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(D) prioritizes the development of—

(A) standardized public charge access ports with wireless or smart card billing capability; and

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(i) standardized public charge access ports with wireless or smart card billing capability; and

(that charge an electric vehicle over a period of 8 to 14 hours and 4 to 8 hours, respectively) that will meet the energy requirements of the majority of plug-in hybrid and battery electric vehicles;

(5) examines the feasibility of level III charge port systems that can charge an electric vehicle over a period of 10 to 20 minutes; and

(6) focuses on infrastructure that provides consumers with the lowest cost while providing convenient charge system access.

(1) IN GENERAL.—The Secretary shall establish pilot projects to demonstrate electric drive vehicles and infrastructure.

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(A) IN GENERAL.—The Secretary shall establish pilot projects to demonstrate electric drive vehicles and infrastructure.

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(B) REQUIREMENTS.—The Secretary shall—

(A) establish the pilot projects described in paragraph (1) after publication of the plan developed under subsection (a);

(B) use that plan to determine which regions of the United States are most ready to demonstrate electric vehicle infrastructure;

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(ii) use that plan to determine which regions of the United States are most ready to demonstrate electric vehicle infrastructure;

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(iii) carry out the pilot projects in different regions of the United States; and

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(H) ensure that—

(i) at least 1 pilot project is carried out in a rural region of the United States; and

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(I) at least 1 pilot project is carried out in a rural region of the United States; and

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(II) at least 1 pilot project is focused on freight issues.

(c) FINANCIAL RESOURCES.—In carrying out the pilot projects under subsection (b), the Secretary shall coordinate the use of appropriate financial incentives, grant programs, and other Federal financial resources to ensure that electric infrastructure delivery entities are able to participate in the pilot projects.

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(3) FINANCIAL RESOURCES.—In carrying out the pilot projects under paragraph (2), the Secretary shall coordinate the use of appropriate financial incentives, grant programs, and other Federal financial resources to ensure that electric infrastructure delivery entities are able to participate in the pilot projects.

(d) LEEP COORDINATOR.—The Secretary may designate 1 full-time position within the Department of Transportation, to be known as the ‘‘LEEP coordinator’’, with responsibility to oversee—

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(4) LEEP COORDINATOR.—The Secretary may designate 1 full-time position within the Department of Transportation, to be known as the ‘‘LEEP coordinator’’, with responsibility to oversee—

(e) AUTHORIZATION OF APPROPRIATIONS.—There are authorized to be appropriated to carry out this section such sums as are necessary. PART II—TRANSPORTATION EFFICIENCY

Sec. 1711. GREENHOUSE GAS EMISSION REDUCTIONS THROUGH TRANSPORTATION EFFICIENCY.

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Sec. 112. GREENHOUSE GAS EMISSION REDUCTIONS THROUGH TRANSPORTATION EFFICIENCY.

(a) ENVIRONMENTAL PROTECTION AGENCY.—Title VIII of the Clean Air Act (as amended by section 1441) is amended by adding at the end the following: ‘‘SEC. 803. GREENHOUSE GAS EMISSION REDUCTIONS THROUGH TRANSPORTATION EFFICIENCY.

(a) IN GENERAL.—The Administrator, in consultation with the Secretary of Transportation (referred to in this section as the ‘Secretary’), shall promulgate, and update from time to time, regulations to establish—

(1) national transportation-related greenhouse gas emission reduction goals that are commensurate with the emission reduction targets established under the American Power Act and the amendments made by that Act;

(2) standardized emission models and related methods, to be used by States, metropolitan planning organizations, and air quality agencies to address emission reduction goals, including—

(A) the development of surface transportation-related greenhouse gas emission reduction targets pursuant to sections 134 and of title 23, and sections 5303 and 5304 of title 49, United States Code;

(B) the assessment of projected surface transportation-related greenhouse gas emissions from transportation strategies;

(C) the assessment of projected surface transportation-related greenhouse gas emissions from State and regional transportation plans;

(D) the establishment of surface transportation-related greenhouse gas emission baselines at national, State, and regional levels; and

(E) the measurement and assessment of actual surface transportation-related emissions to assess progress toward achievement of emission targets at the State and regional levels;

(3) methods for collection of data on transportation-related greenhouse gas emissions; and

(4) publication and distribution of successful strategies employed by States, Indian tribes, metropolitan planning organizations, and other entities to reduce transportation-related greenhouse gas emissions.

(b) ROLE OF DEPARTMENT OF TRANSPORTATION.—The Secretary, in consultation with the Administrator, shall promulgate, and update from time to time, regulations—

(1) to improve the ability of transportation planning models and tools, including travel demand models, to address greenhouse gas emissions;

(2) to assess projected surface transportationrelated travel activity and transportation strategies from State and regional transportation plans; and

(3) to update transportation planning requirements and approval of transportation plans as necessary to carry out this section.

(1) shall consult with States, Indian tribes, metropolitan planning organizations, and air quality agencies;

(2) may use existing models and methodologies if the models and methodologies are widely considered to reflect the best practicable modeling or methodological approach for assessing actual and projected transportation-related greenhouse gas emissions from transportation plans and projects; and

(3) shall consider previously developed plans that were based on models and methodologies for re ducing greenhouse gas emissions in applying those regulations to the first approvals after promulgation.

(1) publish proposed regulations under subsections (a) and (b) not later than 1 year after the date of enactment of this section; and

(2) promulgate final regulations under subsections (a) and (b) not later than 18 months after the date of enactment of this section.

(1) IN GENERAL.—At least every 6 years after promulgating final regulations under subsections (a) and (b), the Administrator and the Secretary shall jointly assess current and projected progress in reducing national transportation-related greenhouse gas emissions.

(2) REQUIREMENTS.—The assessment shall examine the contributions to emission reductions attributable to—

(D) changes in consumer demand and use of transportation management systems; and

(E) any other greenhouse gas-related transportation policies enacted by Congress.

(3) RESULTS OF ASSESSMENT.—The Secretary and the Administrator shall consider—

(B) based on those results, whether technical or other updates to regulations required under this section and sections 134 and 135 of

TITLE 23, and sections 5303 and 5304 of title 49, United States Code, are necessary.’’.

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TITLE 23, and sections 5303 and 5304 of title 49, United States Code, are necessary.’’.

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(b) METROPOLITAN PLANNING ORGANIZATIONS.—

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(1) TITLE 23.—Section 134 of title 23, United States Code, is amended—

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(A) in subsection (a)(1)—

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(i) by striking ‘‘minimizing’’ and inserting ‘‘reducing’’; and

(ii) by inserting ‘‘, reliance on oil, impacts on the environment, transportationrelated greenhouse gas emissions,’’ after ‘‘consumption’’;

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(ii) by inserting ‘‘, reliance on oil, impacts on the environment, transportationrelated greenhouse gas emissions,’’ after ‘‘consumption’’;

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(B) in subsection (h)(1)(E)—

(i) by inserting ‘‘sustainability, and livability, reduce surface transportation-related greenhouse gas emissions and reliance on oil, adapt to the effects of climate change,’’ after ‘‘energy conservation,’’;

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(ii) by inserting ‘‘and public health’’ after ‘‘quality of life’’; and

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(ii) by inserting ‘‘and public health’’ after ‘‘quality of life’’; and

(iii) by inserting ‘‘, including housing and land use patterns’’ after ‘‘development patterns’’;

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(iii) by inserting ‘‘, including housing and land use patterns’’ after ‘‘development patterns’’;

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(i) in paragraph (4)(A)—

(I) by striking ‘‘consult, as appropriate,’’ and inserting ‘‘cooperate’’;

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(I) by striking ‘‘consult, as appropriate,’’ and inserting ‘‘cooperate’’;

(II) by inserting ‘‘transportation, public transportation, air quality, and housing, and shall consult, as appropriate, with State and local agencies and Indian tribes responsible for’’ after ‘‘responsible for’’ and

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(III) by inserting ‘‘public health,’’ after ‘‘conservation,’’; and

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(III) by inserting ‘‘public health,’’ after ‘‘conservation,’’; and

(ii) in paragraph (5)(C)(iii), by inserting ‘‘and through the website of the metropolitan planning organization, including emission reduction targets and strategies developed under subsection (k)(6), including an analysis of the anticipated effects of the targets and strategies,’’ after ‘‘World Wide Web’’;

(D) in subsection (j)(5)(A), by striking ‘‘subsection (k)(4)’’ and inserting ‘‘subsection

(i) by redesignating paragraphs (1) through (5) as paragraphs (2) through (6), respectively;

(A) METROPOLITAN PLANNING ORGANIZATION.—The term ‘metropolitan planning organization’ means a metropolitan planning organization described in clause (i) or (ii) of paragraph (7)(B).

(B) SCENARIO ANALYSIS.—The term ‘scenario analysis’ means the use of a planning tool that—

(i) develops a range of scenarios representing various combinations of transpor tation and land use strategies, and estimates of how each of those scenarios would perform in meeting the greenhouse gas emission reduction targets based on analysis of various forces (such as health, transportation, economic or environmental factors, and land use) that affect growth;

(I) the involvement of the general public, key stakeholders, and elected officials on a broad scale;

(II) the creation of an opportunity for those participants to educate each other as to growth trends and trade-offs, as a means to incorporate values and feedback into future plans; and

(I) identification of the considerations shaping planning decisions and outcomes;

(A) IN GENERAL.—Within a metropolitan planning area serving a transportation management area, the transportation planning process under this section shall address transportationrelated greenhouse gas emissions by including emission reduction targets and strategies to meet those targets.

(i) MPOS WITHIN TMAS.—All provisions and requirements of this section, including the requirements for transportation greenhouse gas reduction efforts, shall apply to metropolitan planning orga nizations that also serve as transportation management areas.

(ii) OTHER MPOS.—A metropolitan planning organization that does not serve as a transportation management area—

(I) may develop transportation greenhouse gas emission reduction targets and strategies to meet those targets; and

(II) if those targets and strategies are developed, shall be subject to all applicable provisions and requirements of this section and the American Power Act and amendments made by that Act, including requirements of the transportation greenhouse gas reduction efforts.

(i) IN GENERAL.—Not later than years after the promulgation of the final regulations required under section 803 of the Clean Air Act, each metropolitan planning organization that also serves as a transportation management area shall de velop surface transportation-related greenhouse gas emission reduction targets, as well as strategies to meet those targets, in consultation with State air agencies and Indian tribes as part of the metropolitan transportation planning process under this section.

(ii) MULTIPLE DESIGNATIONS.—If more than 1 metropolitan planning organization has been designated within a metropolitan area, each metropolitan planning organization shall coordinate with other metropolitan planning organizations in the same metropolitan area to develop the targets and strategies described in clause (i).

(iii) MINIMUM REQUIREMENTS.— Each metropolitan transportation plan developed by a metropolitan planning organization under clause (i) shall, within the plan, demonstrate progress in stabilizing and reducing transportation-related greenhouse gas emissions so as to contribute to the achievement of State targets pursuant to section 135(f)(9).

(iv) REQUIREMENTS FOR TARGETS AND STRATEGIES.—The targets and strategies developed under this subparagraph shall, at a minimum—

(I) be based on the emission and travel demand models and related methodologies established in the final regulations required under section ø803¿ of the Clean Air Act;

(II) inventory all sources of surface transportation-related greenhouse gas emissions;

(III) apply to those modes of surface transportation that are addressed in the planning process under this section;

(IV) be integrated and consistent with regional transportation plans and transportation improvement programs; and

(V) be selected through scenario analysis, and include, pursuant to the requirements of the transportation planning process under this section, transportation investment and man agement strategies that reduce greenhouse gas emissions from the transportation sector over the life of the plan, such as—

(aa) efforts to increase public transportation ridership, including through service improvements, capacity expansions, and access enhancement;

(bb) efforts to increase walking, bicycling, and other forms of nonmotorized transportation;

(cc) implementation of zoning and other land use regulations and plans to support infill, transit-oriented development, redevelopment, or mixed use development;

(dd) travel demand management programs (including carpool, vanpool, or car-share projects), transportation pricing measures, parking policies, and programs to promote telecom muting, flexible work schedules, and satellite work centers;

(ee) surface transportation system operation improvements, including intelligent transportation systems or other operational improvements to reduce long-term greenhouse gas emissions through reduced congestion and improved system management;

(jj) use of materials or equipment associated with the construction or maintenance of transportation projects that reduce greenhouse gas emissions;

(kk) public facilities for supplying electricity to electric or plug-in hybrid-electric vehicles; and

(ll) any other effort that demonstrates progress in reducing transportation-related greenhouse gas emissions in each metropolitan planning organization under this subsection.

(D) REVIEW AND APPROVAL.—Not later than 180 days after the date of submission of a plan under this section—

(ii) the Secretary shall make a determination that the plan submitted by a metropolitan planning organization meets the requirements of subparagraph (C) if—

(I) the Secretary finds that a metropolitan planning organization has developed, submitted, and published the plan of the metropolitan planning organization pursuant to this section;

(II) the Secretary, in consultation with the Administrator, determines that the plan is likely to achieve the targets established by the metropolitan planning organization under this subsection; and

(III) the development of the plan complies with the minimum requirements established under clauses

(i) IN GENERAL.—Only metropolitan planning organizations that meet the requirements of subparagraph (C) shall be eligible to receive performance grants under section 113(c).

(ii) FAILURE TO COMPLY.—Failure to comply with the requirements under subparagraph (C) shall not impact certification standards under paragraph (6).’’.

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(2) TITLE 49.—Section 5303 of title 49, United States Code, is amended—

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(A) in subsection (a)(1)—

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(i) by striking ‘‘minimizing’’ and inserting ‘‘reducing’’; and

(ii) by inserting ‘‘, reliance on oil, impacts on the environment, transportationrelated greenhouse gas emissions,’’ after ‘‘consumption’’;

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(ii) by inserting ‘‘, reliance on oil, impacts on the environment, transportationrelated greenhouse gas emissions,’’ after ‘‘consumption’’;

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(B) in subsection (h)(1)(E)—

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(ii) by inserting ‘‘and public health’’ after ‘‘quality of life’’; and

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(ii) by inserting ‘‘and public health’’ after ‘‘quality of life’’; and

(iii) by inserting ‘‘, including housing and land use patterns’’ after ‘‘development patterns’’;

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(iii) by inserting ‘‘, including housing and land use patterns’’ after ‘‘development patterns’’;

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(i) in paragraph (4)(A)—

(I) by striking ‘‘consult, as appropriate,’’ and inserting ‘‘cooperate’’;

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(I) by striking ‘‘consult, as appropriate,’’ and inserting ‘‘cooperate’’;

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(III) by inserting ‘‘public health,’’ after ‘‘conservation,’’; and

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(III) by inserting ‘‘public health,’’ after ‘‘conservation,’’; and

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(i) by redesignating paragraphs (1) through (5) as paragraphs (2) through (6), respectively;

(1) DEFINITION OF METROPOLITAN PLANNING ORGANIZATION.—In this subsection, the term ‘metropolitan planning organization’ means a metropolitan planning organization described in clause (i) or

(i) IN GENERAL.—The requirements of the transportation greenhouse gas reduction efforts shall apply only to metropolitan planning organizations within a transportation management area.

(ii) DEVELOPMENT OF PLAN.—A metropolitan planning organization that does not serve as a transportation management area—

(I) may develop transportation greenhouse gas emission reduction targets and strategies to meet those targets; and

(II) if those targets and strategies are developed, shall be subject to all provisions and requirements of this section, including requirements of the transportation greenhouse gas reduction efforts.

(i) IN GENERAL.—Not later than years after the promulgation of the final regulations required under section 803 of the Clean Air Act, each metropolitan planning organization shall develop surface transportation-related greenhouse gas emission reduction targets, as well as strategies to meet those targets, in consultation with State air agencies and Indian tribes as part of the metropolitan transportation planning process under this section.

(iv) REQUIREMENTS FOR TARGETS AND STRATEGIES.—The targets and strategies developed under this subparagraph shall, at a minimum—

(I) be based on the emission models and related methodologies established in the final regulations required under section 803 of the Clean Air Act;

(II) inventory all sources of surface transportation-related greenhouse gas emissions;

(III) apply to those modes of surface transportation that are addressed in the planning process under this section;

(IV) be integrated and consistent with regional transportation plans and transportation improvement programs; and

(V) be selected through scenario analysis (as defined in section 134(k)(1) of title 23), and include, pursuant to the requirements of the transportation planning process under this section, transportation investment and management strategies that reduce greenhouse gas emissions from the transportation sector over the life of the plan, such as—

(aa) efforts to increase public transportation ridership, including through service improvements, capacity expansions, and access enhancement;

(bb) efforts to increase walking, bicycling, and other forms of nonmotorized transportation;

(cc) implementation of zoning and other land use regula tions and plans to support infill, transit-oriented development, redevelopment, or mixed use development;

(dd) travel demand management programs (including carpool, vanpool, or car-share projects), transportation pricing measures, parking policies, and programs to promote telecommuting, flexible work schedules, and satellite work centers;