| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1135 |
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| 5 | 5 | | To impose an assessment related to fossil fuel emissions, to establish the |
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| 6 | 6 | | Polluters Pay Climate Fund, and for other purposes. |
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| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
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| 8 | 8 | | FEBRUARY7, 2025 |
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| 9 | 9 | | Mr. N |
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| 10 | 10 | | ADLER(for himself, Ms. CHU, Ms. CASTORof Florida, Ms. DEANof |
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| 11 | 11 | | Pennsylvania, Ms. O |
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| 12 | 12 | | CASIO-CORTEZ, Ms. TLAIB, Ms. NORTON, Mrs. RAMI- |
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| 13 | 13 | | REZ, Mrs. WATSONCOLEMAN, Ms. LEEof Pennsylvania, Mr. RASKIN, |
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| 14 | 14 | | Ms. S |
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| 15 | 15 | | CHAKOWSKY, Ms. BALINT, Ms. JAYAPAL, Mr. GRIJALVA, Mr. |
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| 16 | 16 | | M |
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| 17 | 17 | | CGOVERN, Mr. JACKSONof Illinois, Mr. JOHNSONof Georgia, Mr. CAR- |
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| 18 | 18 | | SON, and Ms. OMAR) introduced the following bill; which was referred to |
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| 19 | 19 | | the Committee on Ways and Means, and in addition to the Committees |
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| 20 | 20 | | on Transportation and Infrastructure, and Energy and Commerce, for a |
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| 21 | 21 | | period to be subsequently determined by the Speaker, in each case for |
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| 22 | 22 | | consideration of such provisions as fall within the jurisdiction of the com- |
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| 23 | 23 | | mittee concerned |
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| 24 | 24 | | A BILL |
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| 25 | 25 | | To impose an assessment related to fossil fuel emissions, |
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| 26 | 26 | | to establish the Polluters Pay Climate Fund, and for |
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| 27 | 27 | | other purposes. |
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| 28 | 28 | | Be it enacted by the Senate and House of Representa-1 |
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| 29 | 29 | | tives of the United States of America in Congress assembled, 2 |
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| 30 | 30 | | SECTION 1. SHORT TITLE. 3 |
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| 31 | 31 | | This Act may be cited as the ‘‘Polluters Pay Climate 4 |
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| 32 | 32 | | Fund Act of 2025’’. 5 |
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| 34 | 34 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 35 | 35 | | •HR 1135 IH |
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| 36 | 36 | | SEC. 2. FINDINGS. 1 |
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| 37 | 37 | | Congress finds that— 2 |
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| 38 | 38 | | (1) climate change, resulting primarily from the 3 |
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| 39 | 39 | | combustion of fossil fuels, is an immediate, grave 4 |
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| 40 | 40 | | threat to the communities, environment, and econ-5 |
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| 41 | 41 | | omy of the United States; 6 |
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| 42 | 42 | | (2) severe consequences of climate change have 7 |
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| 43 | 43 | | already materialized in the United States, including 8 |
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| 44 | 44 | | rising sea levels, increasing temperatures, extreme 9 |
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| 45 | 45 | | weather events, flooding, heat waves, loss of bio-10 |
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| 46 | 46 | | diversity, and other climate change-driven ecosystem 11 |
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| 47 | 47 | | threats; 12 |
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| 48 | 48 | | (3) the Federal Government jointly with States 13 |
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| 49 | 49 | | and localities must develop and implement protective 14 |
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| 50 | 50 | | measures to counteract the adverse effects of climate 15 |
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| 51 | 51 | | change, protect communities, and build resilience to 16 |
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| 52 | 52 | | extreme weather; 17 |
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| 53 | 53 | | (4) the government response must include pro-18 |
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| 54 | 54 | | tections for communities that are most vulnerable to 19 |
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| 55 | 55 | | climate change impacts, especially communities of 20 |
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| 56 | 56 | | color, low-income communities, and Tribal and In-21 |
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| 57 | 57 | | digenous communities that are also more likely to 22 |
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| 58 | 58 | | have experienced systemic disinvestment and be 23 |
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| 59 | 59 | | overburdened by fossil fuel pollution; 24 |
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| 60 | 60 | | (5) the protective measures necessary to re-25 |
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| 61 | 61 | | spond to the adverse effects of climate change in the 26 |
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| 64 | 64 | | •HR 1135 IH |
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| 65 | 65 | | United States will require trillions of dollars of new 1 |
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| 66 | 66 | | investment during the decade after the date of en-2 |
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| 67 | 67 | | actment of this Act; 3 |
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| 68 | 68 | | (6) climate change related extreme weather 4 |
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| 69 | 69 | | events, such as those described in paragraph (2), 5 |
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| 70 | 70 | | cost the United States at least $150,000,000,000 6 |
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| 71 | 71 | | each year and disproportionately affect underserved 7 |
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| 72 | 72 | | and overburdened communities, according to the 8 |
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| 73 | 73 | | Fifth National Climate Assessment; 9 |
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| 74 | 74 | | (7) the $100,000,000,000 each year that fossil 10 |
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| 75 | 75 | | fuel companies are collectively assessed for the Pol-11 |
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| 76 | 76 | | luters Pay Climate Fund established in this Act rep-12 |
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| 77 | 77 | | resents only a small portion of the total cost to the 13 |
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| 78 | 78 | | Federal government to respond to climate change re-14 |
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| 79 | 79 | | lated extreme weather events and make needed cli-15 |
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| 80 | 80 | | mate change adaptation and resilience investments; 16 |
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| 81 | 81 | | (8) peer-reviewed research can now determine 17 |
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| 82 | 82 | | with great accuracy the share of carbon dioxide re-18 |
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| 83 | 83 | | leased into the atmosphere by the operations and 19 |
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| 84 | 84 | | products of specific fossil fuel companies, which is 20 |
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| 85 | 85 | | what informs the formulas to determine carbon diox-21 |
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| 86 | 86 | | ide emissions that are used in the amendments made 22 |
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| 87 | 87 | | by this Act; 23 |
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| 90 | 90 | | •HR 1135 IH |
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| 91 | 91 | | (9) the fossil fuel industry has been aware of 1 |
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| 92 | 92 | | the central role that their product plays in causing 2 |
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| 93 | 93 | | climate change since before the year 2000; 3 |
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| 94 | 94 | | (10) the fossil fuel industry must now increase 4 |
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| 95 | 95 | | their contribution to government expenditures to 5 |
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| 96 | 96 | | protect the Nation from climate disaster; and 6 |
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| 97 | 97 | | (11) this Act and assessments under the 7 |
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| 98 | 98 | | amendments made by this Act are not intended— 8 |
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| 99 | 99 | | (A) to be a determination of fault; or 9 |
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| 100 | 100 | | (B) to have any impact on the ability of 10 |
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| 101 | 101 | | any person or other government to hold pol-11 |
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| 102 | 102 | | luters accountable for harms caused. 12 |
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| 103 | 103 | | SEC. 3. TAX RELATING TO CURRENT STOCK OF GREEN-13 |
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| 104 | 104 | | HOUSE GAS EMISSIONS. 14 |
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| 105 | 105 | | (a) I |
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| 106 | 106 | | NGENERAL.—Chapter 38 of the Internal Rev-15 |
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| 107 | 107 | | enue Code of 1986 is amended by adding at the end the 16 |
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| 108 | 108 | | following new subchapter: 17 |
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| 109 | 109 | | ‘‘Subchapter E—Certain Fossil Fuel 18 |
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| 110 | 110 | | Emissions 19 |
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| 111 | 111 | | ‘‘Sec. 4691. Imposition of tax. |
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| 112 | 112 | | ‘‘SEC. 4691. IMPOSITION OF TAX. |
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| 113 | 113 | | 20 |
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| 114 | 114 | | ‘‘(a) I |
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| 115 | 115 | | MPOSITION.—Each assessable person shall pay 21 |
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| 116 | 116 | | to the Secretary of the Treasury not later than the appli-22 |
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| 117 | 117 | | cable payment date a tax in an amount determined under 23 |
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| 118 | 118 | | subsection (b). 24 |
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| 121 | 121 | | •HR 1135 IH |
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| 122 | 122 | | ‘‘(b) DETERMINATION OFAMOUNT.— 1 |
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| 123 | 123 | | ‘‘(1) I |
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| 124 | 124 | | N GENERAL.—With respect to each as-2 |
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| 125 | 125 | | sessable person, the tax under this section shall be 3 |
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| 126 | 126 | | equal to an amount that bears the same ratio to 4 |
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| 127 | 127 | | $1,000,000,000,000 as— 5 |
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| 128 | 128 | | ‘‘(A) the assessable person’s applicable 6 |
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| 129 | 129 | | share of covered carbon dioxide emissions taken 7 |
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| 130 | 130 | | into account under this section, bears to 8 |
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| 131 | 131 | | ‘‘(B) the aggregate applicable shares of 9 |
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| 132 | 132 | | covered carbon dioxide emissions of all assess-10 |
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| 133 | 133 | | able persons taken into account under this sec-11 |
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| 134 | 134 | | tion. 12 |
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| 135 | 135 | | ‘‘(2) D |
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| 136 | 136 | | ETERMINATION OF APPLICABLE 13 |
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| 137 | 137 | | SHARE.— 14 |
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| 138 | 138 | | ‘‘(A) I |
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| 139 | 139 | | N GENERAL.—The applicable share 15 |
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| 140 | 140 | | of covered carbon dioxide emissions taken into 16 |
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| 141 | 141 | | account under this section for any assessable 17 |
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| 142 | 142 | | person shall be the excess (if any) of— 18 |
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| 143 | 143 | | ‘‘(i) the covered carbon dioxide emis-19 |
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| 144 | 144 | | sions attributable to such person (deter-20 |
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| 145 | 145 | | mined in metric tons), as determined by 21 |
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| 146 | 146 | | the Secretary based on product-related car-22 |
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| 147 | 147 | | bon dioxide emissions of such person, over 23 |
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| 148 | 148 | | ‘‘(ii) 1,000,000,000 metric tons. 24 |
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| 151 | 151 | | •HR 1135 IH |
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| 152 | 152 | | ‘‘(B) ADJUSTMENT.—The Secretary may 1 |
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| 153 | 153 | | adjust the amount determined under subpara-2 |
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| 154 | 154 | | graph (A)(i) with respect to an assessable per-3 |
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| 155 | 155 | | son who is described in subsection (c)(2)(B)(ii) 4 |
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| 156 | 156 | | (or who is a successor in interest to a person 5 |
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| 157 | 157 | | described in such subsection) if such person es-6 |
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| 158 | 158 | | tablishes to the satisfaction of the Secretary 7 |
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| 159 | 159 | | that a portion of such amount was— 8 |
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| 160 | 160 | | ‘‘(i) attributable to the extraction of 9 |
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| 161 | 161 | | crude oil by another assessable person who 10 |
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| 162 | 162 | | is described in subsection (c)(2)(B)(i) (or a 11 |
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| 163 | 163 | | successor in interest to a person described 12 |
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| 164 | 164 | | in such subsection), and 13 |
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| 165 | 165 | | ‘‘(ii) taken into account in deter-14 |
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| 166 | 166 | | mining such amount for such other assess-15 |
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| 167 | 167 | | able person. 16 |
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| 168 | 168 | | ‘‘(c) A |
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| 169 | 169 | | SSESSABLEPERSON.—For purposes of this 17 |
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| 170 | 170 | | section— 18 |
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| 171 | 171 | | ‘‘(1) I |
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| 172 | 172 | | N GENERAL.—The term ‘assessable per-19 |
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| 173 | 173 | | son’ means— 20 |
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| 174 | 174 | | ‘‘(A) any person that is described in para-21 |
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| 175 | 175 | | graph (2), or 22 |
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| 176 | 176 | | ‘‘(B) any successor in interest to a person 23 |
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| 177 | 177 | | described in paragraph (2). 24 |
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| 180 | 180 | | •HR 1135 IH |
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| 181 | 181 | | ‘‘(2) PERSON DESCRIBED .—A person is de-1 |
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| 182 | 182 | | scribed in this paragraph if such person— 2 |
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| 183 | 183 | | ‘‘(A) is a United States person or is en-3 |
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| 184 | 184 | | gaged in a trade or business within the United 4 |
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| 185 | 185 | | States during the period beginning on the date 5 |
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| 186 | 186 | | of the enactment of this Act and ending on De-6 |
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| 187 | 187 | | cember 31, 2025, 7 |
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| 188 | 188 | | ‘‘(B) during any part of the covered pe-8 |
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| 189 | 189 | | riod, was engaged in the trade or business of— 9 |
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| 190 | 190 | | ‘‘(i) extracting any fossil fuel, or 10 |
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| 191 | 191 | | ‘‘(ii) refining any crude oil, and 11 |
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| 192 | 192 | | ‘‘(C) is determined by the Secretary to be 12 |
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| 193 | 193 | | responsible for more than 1,000,000,000 metric 13 |
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| 194 | 194 | | tons of covered carbon dioxide emissions. 14 |
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| 195 | 195 | | ‘‘(3) C |
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| 196 | 196 | | ONTROLLED GROUPS .— 15 |
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| 197 | 197 | | ‘‘(A) I |
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| 198 | 198 | | N GENERAL.—For purposes of this 16 |
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| 199 | 199 | | subsection, all persons treated as a single em-17 |
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| 200 | 200 | | ployer under subsection (a) or (b) of section 52 18 |
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| 201 | 201 | | or subsection (m) or (o) of section 414 shall be 19 |
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| 202 | 202 | | treated as a single assessable person. 20 |
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| 203 | 203 | | ‘‘(B) I |
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| 204 | 204 | | NCLUSION OF FOREIGN CORPORA -21 |
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| 205 | 205 | | TIONS.—For purposes of subparagraph (A), in 22 |
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| 206 | 206 | | applying subsections (a) and (b) of section 52 23 |
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| 207 | 207 | | to this section, section 1563 shall be applied 24 |
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| 208 | 208 | | without regard to subsection (b)(2)(C) thereof. 25 |
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| 211 | 211 | | •HR 1135 IH |
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| 212 | 212 | | ‘‘(4) JOINT AND SEVERAL LIABILITY .—If more 1 |
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| 213 | 213 | | than one person is liable for payment of the tax 2 |
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| 214 | 214 | | under subsection (a) with respect to a single assess-3 |
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| 215 | 215 | | able person by reason of the application of para-4 |
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| 216 | 216 | | graph (3), all such persons shall be jointly and sev-5 |
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| 217 | 217 | | erally liable for payment of such tax. 6 |
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| 218 | 218 | | ‘‘(d) O |
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| 219 | 219 | | THERDEFINITIONS ANDRULES.—For pur-7 |
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| 220 | 220 | | poses of this section— 8 |
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| 221 | 221 | | ‘‘(1) A |
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| 222 | 222 | | PPLICABLE PAYMENT DATE .—The term 9 |
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| 223 | 223 | | ‘applicable payment date’ means September 30, 10 |
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| 224 | 224 | | 2026. 11 |
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| 225 | 225 | | ‘‘(2) C |
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| 226 | 226 | | OVERED CARBON DIOXIDE EMISSIONS .— 12 |
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| 227 | 227 | | The term ‘covered carbon dioxide emissions’ means, 13 |
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| 228 | 228 | | with respect to any person, the total quantity of car-14 |
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| 229 | 229 | | bon dioxide released into the atmosphere during the 15 |
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| 230 | 230 | | covered period by reason such person engaging in 16 |
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| 231 | 231 | | the trade or business of extracting fossil fuels or of 17 |
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| 232 | 232 | | refining crude oil. 18 |
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| 233 | 233 | | ‘‘(3) C |
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| 234 | 234 | | OVERED PERIOD.—The term ‘covered pe-19 |
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| 235 | 235 | | riod’ means the period that— 20 |
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| 236 | 236 | | ‘‘(A) began on January 1, 2000, and 21 |
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| 237 | 237 | | ‘‘(B) ended on December 31, 2023. 22 |
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| 238 | 238 | | ‘‘(4) F |
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| 239 | 239 | | OSSIL FUEL.—The term ‘fossil fuel’ 23 |
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| 240 | 240 | | means coal, crude oil, and fuel gases. 24 |
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| 243 | 243 | | •HR 1135 IH |
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| 244 | 244 | | ‘‘(5) COAL.—The term ‘coal’ means anthracite, 1 |
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| 245 | 245 | | bituminous, subbituminous, and lignite coal. 2 |
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| 246 | 246 | | ‘‘(6) C |
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| 247 | 247 | | RUDE OIL.—The term ‘crude oil’ means 3 |
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| 248 | 248 | | oil or petroleum of any kind and in any form, includ-4 |
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| 249 | 249 | | ing bitumen, oil sands, heavy oil, conventional and 5 |
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| 250 | 250 | | unconventional oil, shale oil, natural gas liquids, con-6 |
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| 251 | 251 | | densates, and related fossil fuel liquids. 7 |
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| 252 | 252 | | ‘‘(7) F |
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| 253 | 253 | | UEL GASES.—The term ‘fuel gases’ 8 |
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| 254 | 254 | | means natural gas, associated natural gas, conven-9 |
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| 255 | 255 | | tional and unconventional gas, shale gas, and related 10 |
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| 256 | 256 | | methane gas production. 11 |
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| 257 | 257 | | ‘‘(8) D |
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| 258 | 258 | | ETERMINATION OF CARBON DIOXIDE 12 |
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| 259 | 259 | | EMISSIONS.—In determining the amount of carbon 13 |
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| 260 | 260 | | dioxide emissions with respect to any assessable per-14 |
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| 261 | 261 | | son— 15 |
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| 262 | 262 | | ‘‘(A) an amount equivalent to 942.5 metric 16 |
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| 263 | 263 | | tons of carbon dioxide shall be treated as re-17 |
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| 264 | 264 | | leased for every 1,000,000 pounds of coal, 18 |
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| 265 | 265 | | ‘‘(B) an amount equivalent to 432,180 19 |
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| 266 | 266 | | metric tons of carbon dioxide shall be treated as 20 |
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| 267 | 267 | | released for every 1,000,000 barrels of crude 21 |
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| 268 | 268 | | oil, and 22 |
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| 269 | 269 | | ‘‘(C) an amount equivalent to 54,440 met-23 |
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| 270 | 270 | | ric tons of carbon dioxide shall be treated as re-24 |
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| 273 | 273 | | •HR 1135 IH |
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| 274 | 274 | | leased for every 1,000,000,000 cubic feet of fuel 1 |
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| 275 | 275 | | gases. 2 |
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| 276 | 276 | | ‘‘(e) E |
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| 277 | 277 | | LECTIONTOPAYLIABILITY ININSTALL-3 |
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| 278 | 278 | | MENTS.— 4 |
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| 279 | 279 | | ‘‘(1) I |
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| 280 | 280 | | N GENERAL.—An assessable person may 5 |
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| 281 | 281 | | elect to pay the tax under this section in 9 annual 6 |
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| 282 | 282 | | installments of the following amounts: 7 |
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| 283 | 283 | | ‘‘(A) 20 percent of the tax under this sec-8 |
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| 284 | 284 | | tion in the case of the first installment. 9 |
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| 285 | 285 | | ‘‘(B) 10 percent of the tax under this sec-10 |
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| 286 | 286 | | tion in each of the following 8 installments. 11 |
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| 287 | 287 | | ‘‘(2) D |
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| 288 | 288 | | ATE FOR PAYMENT OF INSTALLMENTS .— 12 |
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| 289 | 289 | | If an election is made under paragraph (1), the first 13 |
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| 290 | 290 | | installment shall be paid on the applicable payment 14 |
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| 291 | 291 | | date and each succeeding installment shall be paid 15 |
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| 292 | 292 | | on the same date as the applicable payment date for 16 |
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| 293 | 293 | | each calendar year following the calendar year with 17 |
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| 294 | 294 | | respect to which the preceding installment was 18 |
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| 295 | 295 | | made. 19 |
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| 296 | 296 | | ‘‘(3) A |
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| 297 | 297 | | CCELERATION OF PAYMENT .—If there is 20 |
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| 298 | 298 | | an addition to tax for failure to timely pay any in-21 |
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| 299 | 299 | | stallment required under this subsection, a liquida-22 |
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| 300 | 300 | | tion or sale of substantially all the assets of the as-23 |
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| 301 | 301 | | sessable person (including in a title 11 or similar 24 |
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| 302 | 302 | | case), a cessation of business by the assessable per-25 |
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| 305 | 305 | | •HR 1135 IH |
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| 306 | 306 | | son, or any similar circumstance, then the unpaid 1 |
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| 307 | 307 | | portion of all remaining installments shall be due on 2 |
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| 308 | 308 | | the date of such event (or in the case of a title 11 3 |
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| 309 | 309 | | or similar case, the day before the petition is filed). 4 |
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| 310 | 310 | | The preceding sentence shall not apply to the sale 5 |
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| 311 | 311 | | of substantially all the assets of an assessable person 6 |
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| 312 | 312 | | to a buyer if such buyer enters into an agreement 7 |
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| 313 | 313 | | with the Secretary under which such buyer is liable 8 |
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| 314 | 314 | | for the remaining installments due under this sub-9 |
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| 315 | 315 | | section in the same manner as if such buyer were 10 |
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| 316 | 316 | | the assessable person. 11 |
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| 317 | 317 | | ‘‘(4) P |
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| 318 | 318 | | RORATION OF DEFICIENCY TO INSTALL -12 |
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| 319 | 319 | | MENTS.—If an election is made under paragraph (1) 13 |
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| 320 | 320 | | to pay the tax under this section in installments and 14 |
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| 321 | 321 | | a deficiency has been assessed with respect to such 15 |
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| 322 | 322 | | tax, the deficiency shall be prorated to the install-16 |
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| 323 | 323 | | ments payable under paragraph (1). The part of the 17 |
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| 324 | 324 | | deficiency so prorated to any installment the date 18 |
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| 325 | 325 | | for payment of which has not arrived shall be col-19 |
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| 326 | 326 | | lected at the same time as, and as a part of, such 20 |
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| 327 | 327 | | installment. The part of the deficiency so prorated 21 |
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| 328 | 328 | | to any installment the date for payment of which 22 |
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| 329 | 329 | | has arrived shall be paid upon notice and demand 23 |
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| 330 | 330 | | from the Secretary. This subsection shall not apply 24 |
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| 331 | 331 | | if the deficiency is due to negligence, to intentional 25 |
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| 334 | 334 | | •HR 1135 IH |
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| 335 | 335 | | disregard of rules and regulations, or to fraud with 1 |
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| 336 | 336 | | intent to evade tax. 2 |
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| 337 | 337 | | ‘‘(5) E |
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| 338 | 338 | | LECTION.—Any election under paragraph 3 |
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| 339 | 339 | | (1) shall be made not later than the applicable pay-4 |
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| 340 | 340 | | ment date and shall be made in such manner as the 5 |
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| 341 | 341 | | Secretary shall provide. 6 |
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| 342 | 342 | | ‘‘(6) I |
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| 343 | 343 | | NSTALLMENTS NOT TO PREVENT CREDIT 7 |
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| 344 | 344 | | OR REFUND OF OVERPAYMENTS OR INCREASE ESTI -8 |
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| 345 | 345 | | MATED TAXES.—If an election is made under para-9 |
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| 346 | 346 | | graph (1) to pay the tax under this section in in-10 |
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| 347 | 347 | | stallments— 11 |
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| 348 | 348 | | ‘‘(A) no installment of such tax shall— 12 |
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| 349 | 349 | | ‘‘(i) in the case of a request for credit 13 |
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| 350 | 350 | | or refund, be taken into account as a li-14 |
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| 351 | 351 | | ability for purposes of determining whether 15 |
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| 352 | 352 | | an overpayment exists for purposes of sec-16 |
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| 353 | 353 | | tion 6402 before the date on which such 17 |
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| 354 | 354 | | installment is due, or 18 |
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| 355 | 355 | | ‘‘(ii) for purposes of sections 6425, 19 |
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| 356 | 356 | | 6654, and 6655, be treated as a tax im-20 |
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| 357 | 357 | | posed by section 1, section 11, or sub-21 |
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| 358 | 358 | | chapter L of chapter 1, and 22 |
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| 359 | 359 | | ‘‘(B) the first sentence of section 6403 23 |
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| 360 | 360 | | shall not apply with respect to any such install-24 |
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| 361 | 361 | | ment. 25 |
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| 364 | 364 | | •HR 1135 IH |
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| 365 | 365 | | ‘‘(f) REGULATIONS.—Not later than 18 months after 1 |
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| 366 | 366 | | the date of enactment of this section, the Secretary shall 2 |
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| 367 | 367 | | promulgate such regulations as are necessary to carry out 3 |
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| 368 | 368 | | this section.’’. 4 |
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| 369 | 369 | | (b) N |
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| 370 | 370 | | ODEDUCTION.—Section 275(a) of such Code 5 |
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| 371 | 371 | | is amended by adding at the end the following new para-6 |
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| 372 | 372 | | graph: 7 |
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| 373 | 373 | | ‘‘(7) Taxes imposed by subchapter E of chapter 8 |
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| 374 | 374 | | 38.’’. 9 |
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| 375 | 375 | | (c) C |
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| 376 | 376 | | LERICALAMENDMENT.—The table of sub-10 |
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| 377 | 377 | | chapters for chapter 38 of such Code is amended by add-11 |
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| 378 | 378 | | ing at the end the following new item: 12 |
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| 379 | 379 | | ‘‘SUBCHAPTER E—CERTAIN FOSSIL FUEL EMISSIONS ’’. |
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| 380 | 380 | | SEC. 4. POLLUTER PAYS CLIMATE CHANGE FUND. |
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| 381 | 381 | | 13 |
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| 382 | 382 | | (a) E |
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| 383 | 383 | | STABLISHMENT OF FUND.— 14 |
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| 384 | 384 | | (1) I |
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| 385 | 385 | | N GENERAL.—Subchapter A of chapter 98 15 |
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| 386 | 386 | | of the Internal Revenue Code of 1986 is amended by 16 |
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| 387 | 387 | | adding at the end the following new section: 17 |
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| 388 | 388 | | ‘‘SEC. 9512. POLLUTERS PAY CLIMATE FUND. 18 |
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| 389 | 389 | | ‘‘(a) E |
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| 390 | 390 | | STABLISHMENT.—There is established in the 19 |
|---|
| 391 | 391 | | Treasury of the United States a trust fund, to be known 20 |
|---|
| 392 | 392 | | as the ‘Polluters Pay Climate Fund’ (hereinafter in this 21 |
|---|
| 393 | 393 | | section referred to as the ‘Fund’), consisting of amounts 22 |
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| 394 | 394 | | as are appropriated or credited to such Trust Fund as 23 |
|---|
| 395 | 395 | | provided in this section and section 9602(b). 24 |
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| 398 | 398 | | •HR 1135 IH |
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| 399 | 399 | | ‘‘(b) TRANSFERS.—There are hereby appropriated to 1 |
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| 400 | 400 | | the Fund amounts equivalent to the taxes received in the 2 |
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| 401 | 401 | | Treasury under section 4691. 3 |
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| 402 | 402 | | ‘‘(c) E |
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| 403 | 403 | | XPENDITURESFROM THEFUND.—Amounts in 4 |
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| 404 | 404 | | the fund shall be available, as provided in appropriations 5 |
|---|
| 405 | 405 | | Acts, for the purpose of making expenditures to carry out 6 |
|---|
| 406 | 406 | | the purposes of section 4(b) of the Polluters Pay Climate 7 |
|---|
| 407 | 407 | | Fund Act of 2025.’’. 8 |
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| 408 | 408 | | (2) C |
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| 409 | 409 | | LERICAL AMENDMENT .—The table of sec-9 |
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| 410 | 410 | | tions for subchapter A of chapter 98 of such Code 10 |
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| 411 | 411 | | is amended by adding at the end the following new 11 |
|---|
| 412 | 412 | | item: 12 |
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| 413 | 413 | | ‘‘Sec. 9512. Polluters Pay Climate Fund.’’. |
|---|
| 414 | 414 | | (b) EXPENDITURESFROMFUND.— 13 |
|---|
| 415 | 415 | | (1) D |
|---|
| 416 | 416 | | EFINITIONS.—In this subsection: 14 |
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| 417 | 417 | | (A) A |
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| 418 | 418 | | DMINISTRATOR.—The term ‘‘Admin-15 |
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| 419 | 419 | | istrator’’ means the Administrator of the Envi-16 |
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| 420 | 420 | | ronmental Protection Agency. 17 |
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| 421 | 421 | | (B) E |
|---|
| 422 | 422 | | NVIRONMENTAL JUSTICE COMMU -18 |
|---|
| 423 | 423 | | NITY.—The term ‘‘environmental justice com-19 |
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| 424 | 424 | | munity’’ means a community with significant 20 |
|---|
| 425 | 425 | | representation of communities of color, low-in-21 |
|---|
| 426 | 426 | | come communities, or Tribal and Indigenous 22 |
|---|
| 427 | 427 | | communities that experiences, or is at risk of 23 |
|---|
| 428 | 428 | | experiencing, higher or more adverse human 24 |
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| 431 | 431 | | •HR 1135 IH |
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| 432 | 432 | | health or environmental effects as compared to 1 |
|---|
| 433 | 433 | | other communities. 2 |
|---|
| 434 | 434 | | (C) F |
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| 435 | 435 | | UND.—The term ‘‘Fund’’ means the 3 |
|---|
| 436 | 436 | | Polluters Pay Climate Change Fund established 4 |
|---|
| 437 | 437 | | under section 9512 of the Internal Revenue 5 |
|---|
| 438 | 438 | | Code of 1986. 6 |
|---|
| 439 | 439 | | (D) S |
|---|
| 440 | 440 | | ECRETARY.—The term ‘‘Secretary’’ 7 |
|---|
| 441 | 441 | | means the Secretary of the Treasury. 8 |
|---|
| 442 | 442 | | (2) U |
|---|
| 443 | 443 | | SE OF FUND AMOUNTS .— 9 |
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| 444 | 444 | | (A) G |
|---|
| 445 | 445 | | ENERAL PURPOSES.—The Secretary, 10 |
|---|
| 446 | 446 | | in consultation with the Administrator and the 11 |
|---|
| 447 | 447 | | heads of other relevant agencies, shall use 12 |
|---|
| 448 | 448 | | amounts in the Fund for the purposes of fur-13 |
|---|
| 449 | 449 | | thering a comprehensive and equitable Federal 14 |
|---|
| 450 | 450 | | response to climate change impacts through in-15 |
|---|
| 451 | 451 | | vestments in climate resilience, adaptation, dis-16 |
|---|
| 452 | 452 | | aster response, and environmental justice, in-17 |
|---|
| 453 | 453 | | cluding— 18 |
|---|
| 454 | 454 | | (i) climate-related disaster recovery 19 |
|---|
| 455 | 455 | | and mitigation support; 20 |
|---|
| 456 | 456 | | (ii) climate change adaptation support 21 |
|---|
| 457 | 457 | | through climate and disaster planning as-22 |
|---|
| 458 | 458 | | sistance, funding for climate-resilient infra-23 |
|---|
| 459 | 459 | | structure, and improved climate and ex-24 |
|---|
| 460 | 460 | | treme weather prediction capabilities; 25 |
|---|
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| 464 | 464 | | (iii) initiatives that increase the cli-1 |
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| 465 | 465 | | mate resilience of energy systems through 2 |
|---|
| 466 | 466 | | energy efficiency, grid resilience, and dis-3 |
|---|
| 467 | 467 | | tributed electricity generation initiatives; 4 |
|---|
| 468 | 468 | | (iv) initiatives that increase the cli-5 |
|---|
| 469 | 469 | | mate resilience of the food system through 6 |
|---|
| 470 | 470 | | support for climate-resilient farming prac-7 |
|---|
| 471 | 471 | | tices; 8 |
|---|
| 472 | 472 | | (v) initiatives that increase the cli-9 |
|---|
| 473 | 473 | | mate resilience of the transportation sys-10 |
|---|
| 474 | 474 | | tem through planning and climate change 11 |
|---|
| 475 | 475 | | adaptation support; 12 |
|---|
| 476 | 476 | | (vi) initiatives that increase the cli-13 |
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| 477 | 477 | | mate resilience of ecosystems through con-14 |
|---|
| 478 | 478 | | servation, restoration, and wildfire man-15 |
|---|
| 479 | 479 | | agement activities; 16 |
|---|
| 480 | 480 | | (vii) support for climate-related public 17 |
|---|
| 481 | 481 | | health initiatives, including efforts to ad-18 |
|---|
| 482 | 482 | | dress extreme heat; and 19 |
|---|
| 483 | 483 | | (viii) initiatives that increase the cli-20 |
|---|
| 484 | 484 | | mate resiliency of drinking water and 21 |
|---|
| 485 | 485 | | stormwater infrastructure. 22 |
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| 486 | 486 | | (B) S |
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| 487 | 487 | | PECIFIED USES.—In carrying out 23 |
|---|
| 488 | 488 | | subparagraph (A) each fiscal year and to the 24 |
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| 491 | 491 | | •HR 1135 IH |
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| 492 | 492 | | greatest extent practicable, the Secretary shall 1 |
|---|
| 493 | 493 | | use amounts in the Fund— 2 |
|---|
| 494 | 494 | | (i) to provide funding of not less than 3 |
|---|
| 495 | 495 | | $15,000,000,000 to the Federal Emer-4 |
|---|
| 496 | 496 | | gency Management Agency for response 5 |
|---|
| 497 | 497 | | and resilience programs of the Federal 6 |
|---|
| 498 | 498 | | Emergency Management Agency to ad-7 |
|---|
| 499 | 499 | | dress climate-related disasters, including 8 |
|---|
| 500 | 500 | | hurricanes, flooding, extreme heat, and 9 |
|---|
| 501 | 501 | | wildfires, of which not less than 10 |
|---|
| 502 | 502 | | $3,000,000,000 shall be used to carry out 11 |
|---|
| 503 | 503 | | the Building Resilient Infrastructure and 12 |
|---|
| 504 | 504 | | Communities program under section 203 13 |
|---|
| 505 | 505 | | of the Robert T. Stafford Disaster Relief 14 |
|---|
| 506 | 506 | | and Emergency Assistance Act (42 U.S.C. 15 |
|---|
| 507 | 507 | | 5133); and 16 |
|---|
| 508 | 508 | | (ii) to provide funding of not less than 17 |
|---|
| 509 | 509 | | $6,000,000,000 for grants and technical 18 |
|---|
| 510 | 510 | | assistance under section 138 of the Clean 19 |
|---|
| 511 | 511 | | Air Act (42 U.S.C. 7438), subject to the 20 |
|---|
| 512 | 512 | | condition that the Administrator may de-21 |
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| 513 | 513 | | termine the appropriate amounts to be 22 |
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| 514 | 514 | | used for those grants and that technical 23 |
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| 515 | 515 | | assistance. 24 |
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| 519 | 519 | | (C) ENVIRONMENTAL JUSTICE SET 1 |
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| 520 | 520 | | ASIDE.—Of the amounts appropriated from the 2 |
|---|
| 521 | 521 | | Fund each fiscal year, 40 percent shall be used 3 |
|---|
| 522 | 522 | | for investments that benefit environmental jus-4 |
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| 523 | 523 | | tice communities. 5 |
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| 524 | 524 | | (D) S |
|---|
| 525 | 525 | | ELECTION.—For the purpose of de-6 |
|---|
| 526 | 526 | | termining how to award amounts appropriated 7 |
|---|
| 527 | 527 | | from the Fund in excess of the amounts re-8 |
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| 528 | 528 | | quired to be used under subparagraph (B), the 9 |
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| 529 | 529 | | Secretary, in coordination with the Adminis-10 |
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| 530 | 530 | | trator and the heads of other relevant agencies, 11 |
|---|
| 531 | 531 | | shall establish selection criteria, which shall give 12 |
|---|
| 532 | 532 | | the highest priority to projects or other activi-13 |
|---|
| 533 | 533 | | ties that are most impactful in achieving the 14 |
|---|
| 534 | 534 | | purposes described in subparagraph (A), as de-15 |
|---|
| 535 | 535 | | termined by the Secretary, in coordination with 16 |
|---|
| 536 | 536 | | the Administrator and the heads of other rel-17 |
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| 537 | 537 | | evant agencies. 18 |
|---|
| 538 | 538 | | SEC. 5. AVAILABILITY OF REMEDIES. 19 |
|---|
| 539 | 539 | | (a) I |
|---|
| 540 | 540 | | NGENERAL.—Nothing in this Act or the amend-20 |
|---|
| 541 | 541 | | ments made by this Act shall be construed to relieve any 21 |
|---|
| 542 | 542 | | person from liability at common law or under any State 22 |
|---|
| 543 | 543 | | or Federal law. 23 |
|---|
| 544 | 544 | | (b) E |
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| 545 | 545 | | FFECT ON CLAIMSRELATED TO CLIMATE 24 |
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| 546 | 546 | | C |
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| 547 | 547 | | HANGE.—Nothing in this Act or the amendments made 25 |
|---|
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| 551 | 551 | | by this Act, the Clean Air Act (42 U.S.C. 7401 et seq.), 1 |
|---|
| 552 | 552 | | or Federal common law preempts, displaces, or restricts 2 |
|---|
| 553 | 553 | | any right or remedy of any person, State, unit of local 3 |
|---|
| 554 | 554 | | government, or Tribal government under any State or 4 |
|---|
| 555 | 555 | | local law (including common law) relating to an allegation 5 |
|---|
| 556 | 556 | | of— 6 |
|---|
| 557 | 557 | | (1) deception concerning the effects of fossil 7 |
|---|
| 558 | 558 | | fuel on climate change; 8 |
|---|
| 559 | 559 | | (2) damage or injury resulting from the role of 9 |
|---|
| 560 | 560 | | fossil fuel in contributing to climate change; or 10 |
|---|
| 561 | 561 | | (3) the failure to avoid damage or injury re-11 |
|---|
| 562 | 562 | | lated to climate change, including claims for nui-12 |
|---|
| 563 | 563 | | sance, trespass, design defect, negligence, failure to 13 |
|---|
| 564 | 564 | | warn, or deceptive or unfair practices and claims for 14 |
|---|
| 565 | 565 | | injunctive, declaratory, monetary, or other relief. 15 |
|---|
| 566 | 566 | | (c) R |
|---|
| 567 | 567 | | ULE OFCONSTRUCTION.—Nothing in this Act 16 |
|---|
| 568 | 568 | | or the amendments made by this Act shall— 17 |
|---|
| 569 | 569 | | (1) require the repayment of any funds made 18 |
|---|
| 570 | 570 | | available from the Polluter Pays Climate Change 19 |
|---|
| 571 | 571 | | Fund established under section 9512 of the Internal 20 |
|---|
| 572 | 572 | | Revenue Code of 1986 and used pursuant to section 21 |
|---|
| 573 | 573 | | 4(b) as a result of any award of damages imposed 22 |
|---|
| 574 | 574 | | by a court of law relating to any causes of action or 23 |
|---|
| 575 | 575 | | allegations described in subsection (b); or 24 |
|---|
| 576 | 576 | | (2) permit the use of any such funds— 25 |
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| 580 | 580 | | (A) as evidence in such an action or allega-1 |
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| 581 | 581 | | tion; or 2 |
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| 582 | 582 | | (B) to offset any award of damages in 3 |
|---|
| 583 | 583 | | such an action or allegation. 4 |
|---|
| 584 | 584 | | SEC. 6. NON-PREEMPTION OF AUTHORITIES. 5 |
|---|
| 585 | 585 | | Nothing in this Act or the amendments made by this 6 |
|---|
| 586 | 586 | | Act shall be construed to preempt or supersede any State 7 |
|---|
| 587 | 587 | | or local law, regulation, policy, or program, including laws, 8 |
|---|
| 588 | 588 | | regulations, polices, and programs that— 9 |
|---|
| 589 | 589 | | (1) limit, set, or enforce standards for green-10 |
|---|
| 590 | 590 | | house gas emissions; 11 |
|---|
| 591 | 591 | | (2) monitor, report, and keep records of green-12 |
|---|
| 592 | 592 | | house gas emissions; 13 |
|---|
| 593 | 593 | | (3) provide cost recovery for climate adaptation, 14 |
|---|
| 594 | 594 | | mitigation, or resilience; or 15 |
|---|
| 595 | 595 | | (4) conduct or support investigations. 16 |
|---|
| 596 | 596 | | Æ |
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