S.Amdt. 4864Senate110th Congress (2007-2009)

S.Amdt. 4864

What it does: 41 changes: inserts text, replaces text in 36 places, strikes text in 4 places

What it changes

41 changes to S. 3036

Inserts textReplaces text in 36 placesStrikes text in 4 places

We couldn't match these changes to the text of S. 3036, so they're shown as written.

We couldn't read part of this amendment. That part is shown as written below.

Change 1: Inserts new text on page 19, between lines 16 and 17
InsertsPrinted page
Inserted: (11) Climate tax refund fund.--The term "Climate Tax Refund Fund" means the fund established by section 581.
Original wording
On page 19, between lines 16 and 17, insert the following:
Change 2: Rewrites page 159, lines 3–18
ReplacesPrinted page
Removes page 159, lines 3–18 of the printed bill. See that page
Inserted: The Administrator shall deposit the proceeds from each cost-containment auction in the Climate Tax Refund Fund for use in accordance with section 584.
Original wording
On page 159, strike lines 3 through 18 and insert the following:
Change 3: Replaces “Change Worker Training and Assistance” with “Tax Refund”
ReplacesPage 161, lines 11–12Printed page
~~[struck: Change Worker Training and Assistance]~~[inserted: Tax Refund]
Original wording
On page 161, lines 11 and 12, strike “Change Worker Training and Assistance” and insert “Tax Refund”.
Change 4: Replaces “Change Worker Training and Assistance” with “Tax Refund”
ReplacesPage 161, line 16Printed page
~~[struck: Change Worker Training and Assistance]~~[inserted: Tax Refund]
Original wording
On page 161, line 16, strike “Change Worker Training and Assistance” and insert “Tax Refund”.
Change 5: Replaces “Change Worker Training and Assistance” with “Tax Refund”
ReplacesPage 161, line 24Printed page
~~[struck: Change Worker Training and Assistance]~~[inserted: Tax Refund]
Original wording
On page 161, line 24, strike “Change Worker Training and Assistance” and insert “Tax Refund”.
Change 6: Replaces “Change Worker Training and Assistance” with “Tax Refund”
ReplacesPage 163, lines 4–5Printed page
~~[struck: Change Worker Training and Assistance]~~[inserted: Tax Refund]
Original wording
On page 163, lines 4 and 5, strike “Change Worker Training and Assistance” and insert “Tax Refund”.
Change 7: Strikes page 163, line 6 through page 164, line 20
StrikesPrinted page
Removes page 163, line 6 through page 164, line 20 of the printed bill. See that page
Original wording
Beginning on page 163, strike line 6 and all that follows through page 164, line 20.
Change 8: Strikes page 164, line 21 through page 183, line 3
StrikesPrinted page
Removes page 164, line 21 through page 183, line 3 of the printed bill. See that page
Original wording
Beginning on page 164, strike line 21 and all that follows through page 183, line 3.
Change 9: Replaces “Change Consumer Assistance” with “Tax Refund”
ReplacesPage 201, line 22Printed page
~~[struck: Change Consumer Assistance]~~[inserted: Tax Refund]
Original wording
On page 201, line 22, strike “Change Consumer Assistance” and insert “Tax Refund”.
Change 10: Rewrites page 202, lines 3–4
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Removes page 202, lines 3–4 of the printed bill. See that page
Inserted: (b) and (c) and in addition to other auctions conducted pursuant to this Act, to raise funds for deposit in the Climate Tax Refund Fund, for each of calendar
Original wording
On page 202, strike lines 3 and 4 and insert the following:
Change 11: Replaces “Change Consumer Assistance” with “Tax Refund”
ReplacesPage 202, line 11Printed page
~~[struck: Change Consumer Assistance]~~[inserted: Tax Refund]
Original wording
On page 202, line 11, strike “Change Consumer Assistance” and insert “Tax Refund”.
Change 12: Replaces “Change Consumer Assistance” with “Tax Refund”
ReplacesPage 204, lines 1–2Printed page
~~[struck: Change Consumer Assistance]~~[inserted: Tax Refund]
Original wording
On page 204, lines 1 and 2, strike “Change Consumer Assistance” and insert “Tax Refund”.
Change 13: Rewrites page 204, lines 3–14
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Removes page 204, lines 3–14 of the printed bill. See that page
Inserted: SEC. 584. USE OF AMOUNTS IN CLIMATE TAX REFUND FUND.
Inserted: (a) Definitions.--In this section:
Inserted: (1) Qualified couple.--The term "qualified couple" means a married couple the combined annual income of which does not exceed $300,000.
Inserted: (2) Qualified individual.--The term "qualified individual" means an individual the annual income of whom does not exceed $150,000.
Inserted: (b) Reimbursements.--The Administrator shall establish, by regulation, a program under which, for each of calendar years 2012 through 2050, the Administrator, in consultation with the Secretary of the Treasury, shall use amounts deposited in the Climate Tax Refund Fund for the calendar year to provide to qualified couples and qualified individuals reimbursement in an amount described in subsection (c).
Inserted: (c) Amounts.--For each calendar year described in subsection (b), the amount of reimbursement paid to each qualified couple and each qualified individual shall be determined proportionately, based on the total amount in the Climate Tax Refund Fund for the calendar year.
Original wording
On page 204, strike lines 3 through 14 and insert the following:
Change 14: Rewrites page 204, line 22 through page 217, line 4
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Removes page 204, line 22 through page 217, line 4 of the printed bill. See that page
Inserted: SEC. 601. ASSISTING ENERGY CONSUMERS.
Inserted: (a) Auction.--
Inserted: (1) First period.--Not later than 330 days before the beginning of calendar year 2012, the Administrator shall auction 12.75 percent of the quantity of emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (2) Second period.--Not later than 330 days before the beginning of each of calendar years 2013 through 2025, the Administrator shall auction 13 percent of the quantity of emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (3) Third period.--Not later than 330 days before the beginning of each of calendar years 2026 through 2050, the Administrator shall auction 13.5 percent of the quantity of emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to subsection (a) in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 204, strike line 22 and all that follows through page 217, line 4, and insert the following:
Change 15: Rewrites page 217, lines 8–16
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Removes page 217, lines 8–16 of the printed bill. See that page
Inserted: (1) In general.--Not later than 330 days before the beginning of each of calendar years 2012 through 2050, the Administrator shall auction a percentage of the quantity of emission allowances established pursuant to section 201(a) for the applicable calendar year, in accordance with the table contained in paragraph (2).
Original wording
On page 217, strike lines 8 through 16 and insert the following:
Change 16: Replaces “allocate to States described in” with “auction under”
ReplacesPage 217, line 19Printed page
~~[struck: allocate to States described in]~~[inserted: auction under]
Original wording
On page 217, line 19, strike “allocate to States described in” and insert “auction under”.
Change 17: Rewrites page 218, line 1 through page 222, line 4
ReplacesPrinted page
Removes page 218, line 1 through page 222, line 4 of the printed bill. See that page
Inserted: (b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to subsection (a) in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 218, strike line 1 and all that follows through page 222, line 4, and insert the following:
Change 18: Rewrites page 222, line 8 through page 223, line 11
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Removes page 222, line 8 through page 223, line 11 of the printed bill. See that page
Inserted: SEC. 611. MASS TRANSIT.
Inserted: (a) Auction of Allowances.--In accordance with subsections (b) and (c), for each of calendar years 2012 through 2050, the Administrator shall auction a quantity of the emission allowances established pursuant to section 201(a) for each calendar year.
Inserted: (b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--
Inserted: (1) conduct not fewer than 4 auctions; and
Inserted: (2) schedule the auctions in a manner to ensure that--
Inserted: (A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (B) the interval between each auction is of equal duration.
Inserted: (c) Quantities of Emission Allowances Auctioned.--For each calendar year of the period described in subsection (a), the Administrator shall auction a quantity of emission allowances in accordance with the applicable percentages described in the following table:
Original wording
Beginning on page 222, strike line 8 and all that follows through page 223, line 11, and insert the following:
Change 19: Rewrites page 224, line 1 through page 228, line 25
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Removes page 224, line 1 through page 228, line 25 of the printed bill. See that page
Inserted: (d) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 224, strike line 1 and all that follows through page 228, line 25, and insert the following:
Change 20: Rewrites page 240, lines 5–17
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Removes page 240, lines 5–17 of the printed bill. See that page
Inserted: (a) In General.--In accordance with subsection (b), for each of calendar years 2012 through 2050, the Administrator shall--
Inserted: (1) auction 2 percent of the emission allowances established pursuant to section 201(a) for the calendar year; and
Inserted: (2) immediately on completion of an auction, deposit the proceeds of the auction in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
On page 240, strike lines 5 through 17 and insert the following:
Change 21: Rewrites page 241, lines 6–21
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Removes page 241, lines 6–21 of the printed bill. See that page
Inserted: (a) Auction.--
Inserted: (1) In general.--Not later than 330 days before the beginning of each of calendar years 2012 through 2050, the Administrator shall auction a percentage of the quantity of emission allowances established pursuant to section 201(a) for the applicable calendar year, in accordance with paragraph (2).
Inserted: (2) Percentages for auction.--For each of calendar years 2012 through 2050, the Administrator shall auction in accordance with paragraph (1) the percentage of emission allowances specified in the following table:
Inserted: In the heading of the right column of the table contained on page 241, after line 21, strike "State leaders in reducing greenhouse gas emissions and improving energy efficiency" and insert "auction".
Original wording
On page 241, strike lines 6 through 21 and insert the following:
Change 22: Rewrites page 242, line 1 through page 249, line 9
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Removes page 242, line 1 through page 249, line 9 of the printed bill. See that page
Inserted: (b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 242, strike line 1 and all that follows through page 249, line 9, and insert the following:
Change 23: Rewrites page 249, lines 13–24
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Inserted: SEC. 621. AUCTION.
Inserted: (a) In General.--Not later than 330 days before the beginning of each of calendar years 2012 through 2050, the Administrator shall auction a percentage of the quantity of emission allowances established pursuant to section 201(a) for the applicable calendar year, in accordance with subsection (b).
Inserted: (b) Percentages for Allocation.--For each of calendar years 2012 through 2050, the Administrator shall auction in accordance with subsection (a) the per-In the heading of the right column of the table contained on page 250, after line 2, insert "auction to" after "Percentage for".
Original wording
On page 249, strike lines 13 through 24 and insert the following:
Change 24: Rewrites page 250, line 3 through page 267, line 11
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Inserted: SEC. 622. USE OF PROCEEDS.
Inserted: The Administrator shall deposit all proceeds of auctions conducted pursuant to this subtitle, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 250, strike line 3 and all that follows through page 267, line 11, and insert the following:
Change 25: Rewrites page 267, line 16 through page 268, line 19
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Inserted: SEC. 631. AUCTIONS.
Inserted: (a) Auctions.--
Inserted: (1) In general.--In accordance with paragraph (2) and subsection (b), for each of calendar years 2012 through 2050, the Administrator shall auction a percentage of emission allowances established for the calendar year pursuant to section 201(a) to raise funds for deposit in the Climate Tax Refund Fund.
Inserted: (2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--
Inserted: (A) conduct not fewer than 4 auctions; and
Inserted: (B) schedule the auctions in a manner to ensure that--
Inserted: (i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (ii) the interval between each auction is of equal duration.
Inserted: (b) Quantities of Emission Allowances Auctioned.--For each calendar year of the period described in subsection (a)(1), the Administrator shall auction a quantity of emission allowances in accordance with the applicable percentages described in the following table:
Inserted: In the heading of the right column of the table contained on page 268, after line 19, strike "for Fund".
Original wording
Beginning on page 267, strike line 16 and all that follows through page 268, line 19, and insert the following:
Change 26: Rewrites page 269, line 1 through page 279, line 14
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Removes page 269, line 1 through page 279, line 14 of the printed bill. See that page
Inserted: (c) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 269, strike line 1 and all that follows through page 279, line 14, and insert the following:
Change 27: Rewrites page 283, line 14 through page 292, line 16
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Removes page 283, line 14 through page 292, line 16 of the printed bill. See that page
Inserted: SEC. 801. AUCTIONS.
Inserted: (a) First Period.--Not later than 330 days before the beginning of each of calendar years 2012 through 2030, the Administrator shall auction 6.25 percent of the emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (b) Second Period.--Not later than 330 days before the beginning of each of calendar years 2031 through 2050, the Administrator shall auction 3.25 percent of the emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (c) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 283, strike line 14 and all that follows through page 292, line 16, and insert the following:
Change 28: Rewrites page 292, line 22 through page 302, line 22
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Removes page 292, line 22 through page 302, line 22 of the printed bill. See that page
Inserted: SEC. 901. AUCTIONS.
Inserted: (a) First Period.--
Inserted: (1) In general.--For each of calendar years 2012 through 2021, the Administrator shall, in accordance with paragraph (2), auction 1.75 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.
Inserted: (2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--
Inserted: (A) conduct not fewer than 4 auctions; and
Inserted: (B) schedule the auctions in a manner to ensure that--
Inserted: (i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (ii) the interval between each auction is of equal duration.
Inserted: (b) Second Period.--
Inserted: (1) In general.--For each of calendar years 2022 through 2030, the Administrator shall, in accordance with paragraph (2), auction 2 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.
Inserted: (2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--
Inserted: (A) conduct not fewer than 4 auctions; and
Show 11 more inserted paragraphsShow less
Inserted: (B) schedule the auctions in a manner to ensure that--
Inserted: (i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (ii) the interval between each auction is of equal duration.
Inserted: (c) Third Period.--
Inserted: (1) In general.--For each of calendar years 2031 through 2050, the Administrator shall, in accordance with paragraph (2), auction 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.
Inserted: (2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--
Inserted: (A) conduct not fewer than 4 auctions; and
Inserted: (B) schedule the auctions in a manner to ensure that--
Inserted: (i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (ii) the interval between each auction is of equal duration.
Inserted: (d) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 292, strike line 22 and all that follows through page 302, line 22, and insert the following:
Change 29: Rewrites page 303, line 2 through page 304, line 7
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Inserted: SEC. 911. AUCTIONS.
Inserted: (a) In General.--For each of calendar years 2012 through 2050, the Administrator shall, in accordance with subsection (b), auction 0.25 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.
Inserted: (b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--
Inserted: (1) conduct not fewer than 4 auctions; and
Inserted: (2) schedule the auctions in a manner to ensure that--
Inserted: (A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (B) the interval between each auction is of equal duration.
Inserted: (c) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 303, strike line 2 and all that follows through page 304, line 7, and insert the following:
Change 30: Rewrites page 304, line 11 through page 307, line 9
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Inserted: SEC. 1001. AUCTIONS.
Inserted: (a) In General.--Not later than 120 days after the date of enactment of this Act, and annually thereafter through 2022, the Administrator shall auction 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year that occurs 3 years after the calendar year during which the auction is conducted.
Inserted: (b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 304, strike line 11 and all that follows through page 307, line 9, and insert the following:
Change 31: Rewrites page 330, line 8 through page 332, line 9
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Inserted: SEC. 1101. AUCTIONS.
Inserted: (a) In General.--Not later than 2 years after the date of enactment of this Act, the Administrator shall auction 0.5 percent of the quantity of emission allowances established pursuant to section 201(a) for calendar years 2012 through 2017.
Inserted: (b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 330, strike line 8 and all that follows through page 332, line 9, and insert the following:
Change 32: Rewrites page 332, line 12 through page 338, line 5
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Inserted: SEC. 1111. AUCTIONS.
Inserted: (a) In General.--For each of calendar years 2012 through 2050, the Administrator shall, in accordance with subsection (b), auction 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.
Inserted: (b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--
Inserted: (1) conduct not fewer than 4 auctions; and
Inserted: (2) schedule the auctions in a manner to ensure that--
Inserted: (A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (B) the interval between each auction is of equal duration.
Inserted: (c) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 332, strike line 12 and all that follows through page 338, line 5, and insert the following:
Change 33: Rewrites page 338, line 7 through page 340, line 21
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Inserted: SEC. 1121. AUCTIONS.
Inserted: (a) Auctions.--
Inserted: (1) First period.--Not later than 330 days before the beginning of each of calendar years 2012 and 2013, the Administrator shall auction 1 percent of the emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (2) Second period.--Not later than 330 days before the beginning of each of calendar years 2014 through 2017, the Administrator shall auction 0.75 percent of the emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (3) Third period.--Not later than 330 days before the beginning of each of calendar years 2018 through 2030, the Administrator shall auction 1 percent of the emission allowances established pursuant to section 201(a) for that calendar year.
Inserted: (b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 338, strike line 7 and all that follows through page 340, line 21, and insert the following:
Change 34: Rewrites page 352, line 21 through page 354, line 9
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Inserted: SEC. 1201. AUCTIONS.
Inserted: (a) Auctions.--
Inserted: (1) In general.--In accordance with subsections (b) and (c), for each of calendar years 2012 through 2050, the Administrator shall auction a quantity of the emission allowances established pursuant to section 201(a) for each calendar year.
Inserted: (2) Use of proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Inserted: In the heading of the right column of the table contained on page 355, after line 2, strike "for funds".
Original wording
Beginning on page 352, strike line 21 and all that follows through page 354, line 9, and insert the following:
Change 35: Strikes page 356, line 1 through page 381, line 9
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Removes page 356, line 1 through page 381, line 9 of the printed bill. See that page
Original wording
Beginning on page 356, strike line 1 and all that follows through page 381, line 9.
Change 36: Rewrites page 438, line 6 through page 442, line 2
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Inserted: SEC. 1321. AUCTIONS.
Inserted: (a) Auctions.--
Inserted: (1) In general.--In accordance with paragraph (2), for each of calendar years 2012 through 2017, the Administrator shall auction 0.5 percent of the emission allowances established pursuant to section 201(a) for the calendar year.
Inserted: (2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--
Inserted: (A) conduct not fewer than 4 auctions; and
Inserted: (B) schedule the auctions in a manner to ensure that--
Inserted: (i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (ii) the interval between each auction is of equal duration.
Inserted: (b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 438, strike line 6 and all that follows through page 442, line 2, and insert the following:
Change 37: Rewrites page 442, line 7 through page 443, line 16
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Inserted: SEC. 1331. AUCTION.
Inserted: (a) Auctions.--
Inserted: (1) In general.--In accordance with paragraph (2) and subsection (b), for each of calendar years 2012 through 2050, the Administrator shall auction a certain percentage of the emission allowances established pursuant to section 201(a) for the calendar year.
Inserted: (2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--
Inserted: (A) conduct not fewer than 4 auctions; and
Inserted: (B) schedule the auctions in a manner to ensure that--
Inserted: (i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (ii) the interval between each auction is of equal duration.
Inserted: (3) Use of proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this subsection, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Inserted: (b) Percentage for Auction.--For each of calendar years 2012 through 2050, the Administrator shall auction in accordance with subsection (a) the percentage of emission allowances specified in the following table:
Inserted: In the heading of the right column of the table contained on page 443, after line 16, strike "for Fund".
Original wording
Beginning on page 442, strike line 7 and all that follows through page 443, line 16, and insert the following:
Change 38: Strikes page 444, line 1 through page 456, line 23
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Original wording
Beginning on page 444, strike line 1 and all that follows through page 456, line 23.
Change 39: Rewrites page 457, line 1 through page 458, line 5
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Inserted: TITLE XIV--ADDITIONAL AUCTIONS FOR CLIMATE TAX REFUND FUND
Inserted: SEC. 1401. ADDITIONAL AUCTIONS.
Inserted: (a) In General.--For each of calendar years 2012 through 2050, the Administrator shall auction, in accordance with subsections (b) and (c), a certain percentage of the emission allowances established pursuant to section 201(a) for the calendar year to raise funds for deposit in the Climate Tax Refund Fund.
Inserted: (b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--
Inserted: (1) conduct not fewer than 4 auctions; and
Inserted: (2) schedule the auctions in a manner to ensure that--
Inserted: (A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and
Inserted: (B) the interval between each auction is of equal duration.
Inserted: (c) Quantities of Emission Allowances Auctioned.--For each of calendar years 2012 through 2050, the quantity of emission allowances auctioned pursuant to subsection (a) shall be the quantity represented by the percentages specified in the following table:
Inserted: In the heading of the right column of the table contained on page 458, after line 5, strike "Deficit Reduction" and insert "Climate Tax Refund".
Original wording
Beginning on page 457, strike line 1 and all that follows through page 458, line 5, and insert the following:
Change 40: Rewrites page 459, lines 1–7
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Inserted: (d) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
On page 459, strike lines 1 through 7 and insert the following:
Change 41: Rewrites page 478, line 19 through page 481, line 3
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Inserted: Subtitle A--Additional Auctions for Climate Tax Refund Fund SEC. 1701. AUCTIONS.
Inserted: (a) First Period.--Not later than 120 days after the date of enactment of this Act, and annually thereafter through 2027, the Administrator shall auction, to raise funds for deposit in the Climate Tax Refund Fund, 0.75 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year that is 3 years after the calendar year during which the auction is conducted.
Inserted: (b) Second Period.--
Inserted: (1) In general.--For each of calendar years 2031 through 2050, the Administrator shall auction, in accordance with paragraph (2), 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year, to raise funds for deposit in the Climate Tax Refund Fund.
Inserted: (2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--
Inserted: (A) conduct not fewer than 4 auctions; and
Inserted: (B) schedule the auctions in a manner to ensure that--
Inserted: (i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of the calendar year; and
Inserted: (ii) the interval between each auction is of equal duration.
Inserted: (c) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.
Original wording
Beginning on page 478, strike line 19 and all that follows through page 481, line 3, and insert the following:

Shown as written

In the heading of the right column of the table contained on page 162, after line 17, strike “Change Worker Training and Assistance” and insert “Tax Refund”.

In the heading of the right column of the table contained on page 203, after line 2, strike “Change Consumer Assistance” and insert “Tax Refund”.

In the heading of the right column of the table contained on page 217, after line 21, strike “allocation among States relying heavily on manufacturing and on coal” and insert “auction”.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed

SA 4864. Mr. CORKER (for himself, Mr. Craig, and Mr. Chambliss) submitted an amendment intended to be proposed by him to the bill S. 3036, to direct the Administrator of the Environmental Protection Agency to establish a program to decrease emissions of greenhouse gases, and for other purposes; which was ordered to lie on the table; as follows:

On page 19, between lines 16 and 17, insert the following:

(11) Climate tax refund fund.--The term “Climate Tax Refund Fund” means the fund established by section 581.

On page 159, strike lines 3 through 18 and insert the following:

The Administrator shall deposit the proceeds from each cost-containment auction in the Climate Tax Refund Fund for use in accordance with section 584.

On page 161, lines 11 and 12, strike “Change Worker Training and Assistance” and insert “Tax Refund”.

On page 161, line 16, strike “Change Worker Training and Assistance” and insert “Tax Refund”.

On page 161, line 24, strike “Change Worker Training and Assistance” and insert “Tax Refund”.

In the heading of the right column of the table contained on page 162, after line 17, strike “Change Worker Training and Assistance” and insert “Tax Refund”.

In the left column of the table that appears on page 163, before line 1, strike “2059” and insert “2050”.

On page 163, lines 4 and 5, strike “Change Worker Training and Assistance” and insert “Tax Refund”.

Beginning on page 163, strike line 6 and all that follows through page 164, line 20.

Beginning on page 164, strike line 21 and all that follows through page 183, line 3.

On page 201, line 22, strike “Change Consumer Assistance” and insert “Tax Refund”.

On page 202, strike lines 3 and 4 and insert the following: (b) and (c) and in addition to other auctions conducted pursuant to this Act, to raise funds for deposit in the Climate Tax Refund Fund, for each of calendar

On page 202, line 11, strike “Change Consumer Assistance” and insert “Tax Refund”.

In the heading of the right column of the table contained on page 203, after line 2, strike “Change Consumer Assistance” and insert “Tax Refund”.

On page 204, lines 1 and 2, strike “Change Consumer Assistance” and insert “Tax Refund”.

On page 204, strike lines 3 through 14 and insert the following:

SEC. 584. USE OF AMOUNTS IN CLIMATE TAX REFUND FUND.

(a) Definitions.--In this section:

(1) Qualified couple.--The term “qualified couple” means a married couple the combined annual income of which does not exceed $300,000.

(2) Qualified individual.--The term “qualified individual” means an individual the annual income of whom does not exceed $150,000.

(b) Reimbursements.--The Administrator shall establish, by regulation, a program under which, for each of calendar years 2012 through 2050, the Administrator, in consultation with the Secretary of the Treasury, shall use amounts deposited in the Climate Tax Refund Fund for the calendar year to provide to qualified couples and qualified individuals reimbursement in an amount described in subsection (c).

(c) Amounts.--For each calendar year described in subsection (b), the amount of reimbursement paid to each qualified couple and each qualified individual shall be determined proportionately, based on the total amount in the Climate Tax Refund Fund for the calendar year.

Beginning on page 204, strike line 22 and all that follows through page 217, line 4, and insert the following:

SEC. 601. ASSISTING ENERGY CONSUMERS.

(a) Auction.--

(1) First period.--Not later than 330 days before the beginning of calendar year 2012, the Administrator shall auction 12.75 percent of the quantity of emission allowances established pursuant to section 201(a) for that calendar year.

(2) Second period.--Not later than 330 days before the beginning of each of calendar years 2013 through 2025, the Administrator shall auction 13 percent of the quantity of emission allowances established pursuant to section 201(a) for that calendar year.

(3) Third period.--Not later than 330 days before the beginning of each of calendar years 2026 through 2050, the Administrator shall auction 13.5 percent of the quantity of emission allowances established pursuant to section 201(a) for that calendar year.

(b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to subsection (a) in the Climate Tax Refund Fund, for use in accordance with section 584.

On page 217, strike lines 8 through 16 and insert the following:

(1) In general.--Not later than 330 days before the beginning of each of calendar years 2012 through 2050, the Administrator shall auction a percentage of the quantity of emission allowances established pursuant to section 201(a) for the applicable calendar year, in accordance with the table contained in paragraph (2).

On page 217, line 19, strike “allocate to States described in” and insert “auction under”.

In the heading of the right column of the table contained on page 217, after line 21, strike “allocation among States relying heavily on manufacturing and on coal” and insert “auction”.

Beginning on page 218, strike line 1 and all that follows through page 222, line 4, and insert the following:

(b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to subsection (a) in the Climate Tax Refund Fund, for use in accordance with section 584.

Beginning on page 222, strike line 8 and all that follows through page 223, line 11, and insert the following:

SEC. 611. MASS TRANSIT.

(a) Auction of Allowances.--In accordance with subsections (b) and (c), for each of calendar years 2012 through 2050, the Administrator shall auction a quantity of the emission allowances established pursuant to section 201(a) for each calendar year.

(b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--

(1) conduct not fewer than 4 auctions; and

(2) schedule the auctions in a manner to ensure that--

(A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(B) the interval between each auction is of equal duration.

(c) Quantities of Emission Allowances Auctioned.--For each calendar year of the period described in subsection (a), the Administrator shall auction a quantity of emission allowances in accordance with the applicable percentages described in the following table:

Beginning on page 224, strike line 1 and all that follows through page 228, line 25, and insert the following:

(d) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.

On page 240, strike lines 5 through 17 and insert the following:

(a) In General.--In accordance with subsection (b), for each of calendar years 2012 through 2050, the Administrator shall--

(1) auction 2 percent of the emission allowances established pursuant to section 201(a) for the calendar year; and

(2) immediately on completion of an auction, deposit the proceeds of the auction in the Climate Tax Refund Fund, for use in accordance with section 584.

On page 241, strike lines 6 through 21 and insert the following:

(a) Auction.--

(2) Percentages for auction.--For each of calendar years 2012 through 2050, the Administrator shall auction in accordance with paragraph (1) the percentage of emission allowances specified in the following table:

In the heading of the right column of the table contained on page 241, after line 21, strike “State leaders in reducing greenhouse gas emissions and improving energy efficiency” and insert “auction”.

Beginning on page 242, strike line 1 and all that follows through page 249, line 9, and insert the following:

(b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section in the Climate Tax Refund Fund, for use in accordance with section 584.

On page 249, strike lines 13 through 24 and insert the following:

SEC. 621. AUCTION.

(a) In General.--Not later than 330 days before the beginning of each of calendar years 2012 through 2050, the Administrator shall auction a percentage of the quantity of emission allowances established pursuant to section 201(a) for the applicable calendar year, in accordance with subsection (b).

(b) Percentages for Allocation.--For each of calendar years 2012 through 2050, the Administrator shall auction in accordance with subsection (a) the per-

In the heading of the right column of the table contained on page 250, after line 2, insert “auction to” after “Percentage for”.

Beginning on page 250, strike line 3 and all that follows through page 267, line 11, and insert the following:

SEC. 622. USE OF PROCEEDS.

The Administrator shall deposit all proceeds of auctions conducted pursuant to this subtitle, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.

Beginning on page 267, strike line 16 and all that follows through page 268, line 19, and insert the following:

SEC. 631. AUCTIONS.

(a) Auctions.--

(1) In general.--In accordance with paragraph (2) and subsection (b), for each of calendar years 2012 through 2050, the Administrator shall auction a percentage of emission allowances established for the calendar year pursuant to section 201(a) to raise funds for deposit in the Climate Tax Refund Fund.

(2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--

(A) conduct not fewer than 4 auctions; and

(B) schedule the auctions in a manner to ensure that--

(i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(ii) the interval between each auction is of equal duration.

(b) Quantities of Emission Allowances Auctioned.--For each calendar year of the period described in subsection (a)(1), the Administrator shall auction a quantity of emission allowances in accordance with the applicable percentages described in the following table:

In the heading of the right column of the table contained on page 268, after line 19, strike “for Fund”.

Beginning on page 269, strike line 1 and all that follows through page 279, line 14, and insert the following:

(c) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.

Beginning on page 283, strike line 14 and all that follows through page 292, line 16, and insert the following:

SEC. 801. AUCTIONS.

(a) First Period.--Not later than 330 days before the beginning of each of calendar years 2012 through 2030, the Administrator shall auction 6.25 percent of the emission allowances established pursuant to section 201(a) for that calendar year.

(b) Second Period.--Not later than 330 days before the beginning of each of calendar years 2031 through 2050, the Administrator shall auction 3.25 percent of the emission allowances established pursuant to section 201(a) for that calendar year.

Beginning on page 292, strike line 22 and all that follows through page 302, line 22, and insert the following:

SEC. 901. AUCTIONS.

(a) First Period.--

(1) In general.--For each of calendar years 2012 through 2021, the Administrator shall, in accordance with paragraph (2), auction 1.75 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.

(2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--

(A) conduct not fewer than 4 auctions; and

(B) schedule the auctions in a manner to ensure that--

(i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(ii) the interval between each auction is of equal duration.

(b) Second Period.--

(1) In general.--For each of calendar years 2022 through 2030, the Administrator shall, in accordance with paragraph (2), auction 2 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.

(2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--

(A) conduct not fewer than 4 auctions; and

(B) schedule the auctions in a manner to ensure that--

(i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(ii) the interval between each auction is of equal duration.

(1) In general.--For each of calendar years 2031 through 2050, the Administrator shall, in accordance with paragraph (2), auction 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.

(2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--

(A) conduct not fewer than 4 auctions; and

(B) schedule the auctions in a manner to ensure that--

(i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(ii) the interval between each auction is of equal duration.

Beginning on page 303, strike line 2 and all that follows through page 304, line 7, and insert the following:

SEC. 911. AUCTIONS.

(a) In General.--For each of calendar years 2012 through 2050, the Administrator shall, in accordance with subsection (b), auction 0.25 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.

(b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--

(1) conduct not fewer than 4 auctions; and

(2) schedule the auctions in a manner to ensure that--

(A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(B) the interval between each auction is of equal duration.

Beginning on page 304, strike line 11 and all that follows through page 307, line 9, and insert the following:

SEC. 1001. AUCTIONS.

(a) In General.--Not later than 120 days after the date of enactment of this Act, and annually thereafter through 2022, the Administrator shall auction 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year that occurs 3 years after the calendar year during which the auction is conducted.

(b) Use of Proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.

Beginning on page 330, strike line 8 and all that follows through page 332, line 9, and insert the following:

SEC. 1101. AUCTIONS.

(a) In General.--Not later than 2 years after the date of enactment of this Act, the Administrator shall auction 0.5 percent of the quantity of emission allowances established pursuant to section 201(a) for calendar years 2012 through 2017.

Beginning on page 332, strike line 12 and all that follows through page 338, line 5, and insert the following:

SEC. 1111. AUCTIONS.

(a) In General.--For each of calendar years 2012 through 2050, the Administrator shall, in accordance with subsection (b), auction 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year.

(b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--

(1) conduct not fewer than 4 auctions; and

(2) schedule the auctions in a manner to ensure that--

(A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(B) the interval between each auction is of equal duration.

Beginning on page 338, strike line 7 and all that follows through page 340, line 21, and insert the following:

SEC. 1121. AUCTIONS.

(a) Auctions.--

(1) First period.--Not later than 330 days before the beginning of each of calendar years 2012 and 2013, the Administrator shall auction 1 percent of the emission allowances established pursuant to section 201(a) for that calendar year.

(2) Second period.--Not later than 330 days before the beginning of each of calendar years 2014 through 2017, the Administrator shall auction 0.75 percent of the emission allowances established pursuant to section 201(a) for that calendar year.

(3) Third period.--Not later than 330 days before the beginning of each of calendar years 2018 through 2030, the Administrator shall auction 1 percent of the emission allowances established pursuant to section 201(a) for that calendar year.

Beginning on page 352, strike line 21 and all that follows through page 354, line 9, and insert the following:

SEC. 1201. AUCTIONS.

(a) Auctions.--

(1) In general.--In accordance with subsections (b) and (c), for each of calendar years 2012 through 2050, the Administrator shall auction a quantity of the emission allowances established pursuant to section 201(a) for each calendar year.

(2) Use of proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this section, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.

In the heading of the right column of the table contained on page 355, after line 2, strike “for funds”.

Beginning on page 356, strike line 1 and all that follows through page 381, line 9.

Beginning on page 438, strike line 6 and all that follows through page 442, line 2, and insert the following:

SEC. 1321. AUCTIONS.

(a) Auctions.--

(1) In general.--In accordance with paragraph (2), for each of calendar years 2012 through 2017, the Administrator shall auction 0.5 percent of the emission allowances established pursuant to section 201(a) for the calendar year.

(2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--

(A) conduct not fewer than 4 auctions; and

(B) schedule the auctions in a manner to ensure that--

(i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(ii) the interval between each auction is of equal duration.

Beginning on page 442, strike line 7 and all that follows through page 443, line 16, and insert the following:

SEC. 1331. AUCTION.

(a) Auctions.--

(1) In general.--In accordance with paragraph (2) and subsection (b), for each of calendar years 2012 through 2050, the Administrator shall auction a certain percentage of the emission allowances established pursuant to section 201(a) for the calendar year.

(2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--

(A) conduct not fewer than 4 auctions; and

(B) schedule the auctions in a manner to ensure that--

(i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(ii) the interval between each auction is of equal duration.

(3) Use of proceeds.--The Administrator shall deposit all proceeds of auctions conducted pursuant to this subsection, immediately on receipt of those proceeds, in the Climate Tax Refund Fund, for use in accordance with section 584.

(b) Percentage for Auction.--For each of calendar years 2012 through 2050, the Administrator shall auction in accordance with subsection (a) the percentage of emission allowances specified in the following table:

In the heading of the right column of the table contained on page 443, after line 16, strike “for Fund”.

Beginning on page 444, strike line 1 and all that follows through page 456, line 23.

Beginning on page 457, strike line 1 and all that follows through page 458, line 5, and insert the following:

TITLE XIV--ADDITIONAL AUCTIONS FOR CLIMATE TAX REFUND FUND

SEC. 1401. ADDITIONAL AUCTIONS.

(a) In General.--For each of calendar years 2012 through 2050, the Administrator shall auction, in accordance with subsections (b) and (c), a certain percentage of the emission allowances established pursuant to section 201(a) for the calendar year to raise funds for deposit in the Climate Tax Refund Fund.

(b) Number; Frequency.--For each calendar year during the period described in subsection (a), the Administrator shall--

(1) conduct not fewer than 4 auctions; and

(2) schedule the auctions in a manner to ensure that--

(A) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of each calendar year; and

(B) the interval between each auction is of equal duration.

(c) Quantities of Emission Allowances Auctioned.--For each of calendar years 2012 through 2050, the quantity of emission allowances auctioned pursuant to subsection (a) shall be the quantity represented by the percentages specified in the following table:

In the heading of the right column of the table contained on page 458, after line 5, strike “Deficit Reduction” and insert “Climate Tax Refund”.

On page 459, strike lines 1 through 7 and insert the following:

Beginning on page 478, strike line 19 and all that follows through page 481, line 3, and insert the following:

Subtitle A--Additional Auctions for Climate Tax Refund Fund SEC. 1701. AUCTIONS.

(a) First Period.--Not later than 120 days after the date of enactment of this Act, and annually thereafter through 2027, the Administrator shall auction, to raise funds for deposit in the Climate Tax Refund Fund, 0.75 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year that is 3 years after the calendar year during which the auction is conducted.

(b) Second Period.--

(1) In general.--For each of calendar years 2031 through 2050, the Administrator shall auction, in accordance with paragraph (2), 1 percent of the quantity of emission allowances established pursuant to section 201(a) for the calendar year, to raise funds for deposit in the Climate Tax Refund Fund.

(2) Number; frequency.--For each calendar year during the period described in paragraph (1), the Administrator shall--

(A) conduct not fewer than 4 auctions; and

(B) schedule the auctions in a manner to ensure that--

(i) each auction takes place during the period beginning 330 days before, and ending 60 days before, the beginning of the calendar year; and

(ii) the interval between each auction is of equal duration.

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Senate amendment submitted

June 5, 2008