Low Carbon Economy Act of 2007

A bill to reduce greenhouse gas emissions from the production and use of energy, and for other purposes.

7/11/2007--Introduced.
Low Carbon Economy Act of 2007 - Requires specified regulated entities (including certain fuel distributors and owners and operators of coal facilities or nonfuel regulated entities) to submit to the President:
(1) the number of allowances or credits equal to the entity's covered greenhouse gas (GHG) emissions; or
(2) a payment equal to the amount of the technology accelerator payment (TAP) price in lieu of submission of required allowances. Requires the President to establish a trading system for such allowances and credits.
Requires TAP payments to be deposited into the Energy Technology Deployment Fund.
Requires the Secretary of Energy to:
(1) report on next generation technologies that can reduce and use methane emissions; and
(2) use a portion of the Fund to carry out a methane research and development program.
Provides for:
(1) allowances to industry, carbon-intensive manufacturing facilities, and states;
(2) agricultural sequestration allowances;
(3) allowances for early reduction projects;
(4) bonus allowances to entities that implement geological sequestration projects; and
(5) allowances for technology, adaptation, and low-income household assistance.
Provides for credits for:
(1) activities that take specified GHG precursors (specified fuel, hydrofluorocarbons, perfluorocarbons, sulfur hexafluoride, or nitrous oxide) out of commerce in the United States;
(2) carbon dioxide sequestration; and
(3) specified offset projects.
Establishes:
(1) the Energy Technology Deployment Fund for the zero- or low-carbon energy technologies program, the advanced coal and sequestration technologies program, the cellulosic biomass ethanol and municipal solid waste technology deployment programs, and the advanced technology vehicles manufacturing incentive program;
(2) the Climate Adaptation Fund for adaptation programs to address climate change impacts and for fish and wildlife conservation programs; and
(3) the Energy Assistance Fund for the low-income home energy assistance program, the Weatherization Assistance Program for Low-Income Persons, and the rural energy assistance program. Requires the President to establish an interagency group to review comparable action by foreign countries with respect to GHG emissions and to make recommendations with respect to foreign credits and international offset projects. Authorizes the President to establish a program to distribute credits for the GHG mitigation benefits of offset projects outside the United States. Requires any U.S. importer of certain covered goods, as a condition of importation, to make a written declaration that the goods are accompanied by a sufficient number of international reserve allowances. Authorizes the President to establish a trading system of international reserve allowances for imported goods.


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Sponsor

• Sen. Jeff Bingaman [D, NM]
• and 6 Co-Sponsors
  • Sen. Daniel Akaka [D, HI]
  • Sen. Robert Casey [D, PA]
  • Sen. Thomas Harkin [D, IA]
  • Sen. Lisa Murkowski [R, AK]
  • Sen. Arlen Specter [D, PA]
  • Ted Stevens
  close

Committees

• Senate Environment and Public Works

Amendments

This bill has no amendments.

Amendments to S.1766

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
July 11, 2007

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All Bill Actions

• Aug 02, 2007: Sponsor introductory remarks on measure. (CR S10775, S10776)
• Jul 11, 2007: Sponsor introductory remarks on measure. (CR S9022-9024)
• Introduced on Jul 11, 2007.
• Jul 11, 2007: Read twice and referred to the Committee on Environment and Public Works.
• Jul 11, 2007: Sponsor introductory remarks on measure. (CR S9022-9023)

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Related Issue Areas:

• Air pollution
• Animals
• Automobile industry
• Biomass energy
• 42 more
• Budgets
• Business
• Carbon cycle
• Carbon dioxide
• Cellulose
• Clean coal technology
• Climate change
• Coal
• Electric power plants
• Emissions trading
• Energy
• Energy assistance for the poor
• Energy conservation
• Energy research
• Environmental protection
• Environmental research
• Environmental technology
• Fishery management
• Fluorocarbons
• Foreign policy
• Geology
• Government trust funds
• Greenhouse gases
• Imports
• International affairs
• International environmental cooperation
• Manufacturing industries
• Marine resources
• Methane
• Municipal solid waste
• Natural resources
• Research and development
• Rural affairs
• Science policy
• Solid wastes
• Sulphur
• Technology
• Trade
• Transportation
• Welfare
• Wildlife conservation
• Electric power production

Data from the Congressional Research Service

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Blog Coverage

November 28, 2008 Es ist Advent « Jobo72’s Weblog

Las Casas 1994: S. 1766). III. Einer der Zuhörer ist der junge Bartolomé de Las Casas, der gerade seit einigen Jahren im priesterlichen Dienst stand. Während die Botschaft die Kolonialgesellschaft zwar irritierte, die Conquistadores ...

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Source: Jobo72's Weblog

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November 28, 2008 Emissions - who is trading what?

By number these bills are S.280, S.317, S.1766, S.2191, S.3036, HR.620, HR.1590 & HR.4226. [18] . Capoor and Ambrosi, op. cit., p. 53. See also L. Parker and B. D. Yacobucci, ‘Climate change: greenhouse gas reduction bills in the 110th ...

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Source: Parliamentary Library Web Site Publications

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November 09, 2008 Emissions - who is trading what?

By number these bills are S.280, S.317, S.1766, S.2191, S.3036, HR.620, HR.1590 & HR.4226. [18] . Capoor and Ambrosi, op. cit., p. 53. See also L. Parker and B. D. Yacobucci, ‘Climate change: greenhouse gas reduction bills in the 110th ...

Was this article useful? Yes or No

Source: Parliamentary Library Web Site Publications

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