US Congress House Bill 1027 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 29-0)
Status: Introduced on February 24 2015 - 25% progression, died in chamber
Action: 2015-03-25 - Sponsor introductory remarks on measure. (CR E421)
Text: Latest bill text (Introduced) [PDF]

Healthy Climate and Family Security Act of 2015 This bill amends the Internal Revenue Code to require the Department of the Treasury to establish a carbon trading program that caps the emissions of carbon dioxide (CO2) from crude oil, coal, and natural gas. Beginning in 2017, crude oil refineries, petroleum importers, coal mines, coal importers, and natural gas suppliers or processors must purchase carbon permits equivalent to the amount of CO2 that would be emitted by covered fuels. Treasury will auction these permits to those entities. This bill establishes a declining cap on the quantity of permits issued to reduce CO2 emissions until 2050 when the permits issued represent an amount 80% below 2005 CO2 emission levels. Treasury must issue permits for carbon capture and sequestration of CO2 from covered fuels. This bill provides for the trading or sale of permits between entities, the banking by entities of permits for future years, and the borrowing by Treasury of permits from future years to stabilize permit prices. Auction proceeds and penalties are returned to U.S. citizens lawfully present in the United States using the Healthy Climate Trust Fund established by this bill. Treasury must impose fees on the import and pay fees for the export of carbon-intensive goods when the export country does not have equivalent measures to regulate greenhouse gases. Carbon-intensive goods are goods with an increased cost due to the regulation of greenhouse gases. The Environmental Protection Agency must regulate within 10 years all sources of greenhouse gases that are anthropogenically emitted (caused by human activity). This excludes gases attributable to the production of animals for food.

Healthy Climate and Family Security Act of 2015

Sen. Chris Van Hollen [D-MD]	Rep. Don Beyer [D-VA]	Rep. Matthew Cartwright [D-PA]	Rep. Alan Lowenthal [D-CA]
Rep. Gerald Connolly [D-VA]	Rep. Earl Blumenauer [D-OR]	Rep. Eleanor Norton [D-DC]	Rep. Raul Grijalva [D-AZ]
Sen. Peter Welch [D-VT]	Rep. Charles Rangel [D-NY]	Rep. Zoe Lofgren [D-CA]	Sen. Adam Schiff [D-CA]
Rep. Grace Napolitano [D-CA]	Rep. Michael Honda [D-CA]	Rep. John Conyers [D-MI]	Rep. Barbara Lee [D-CA]
Rep. Mark DeSaulnier [D-CA]	Rep. Jerry McNerney [D-CA]	Rep. Ted Lieu [D-CA]	Rep. Janice Hahn [D-CA]
Rep. James McGovern [D-MA]	Rep. Janice Schakowsky [D-IL]	Rep. Keith Ellison [D-MN]	Rep. Alcee Hastings [D-FL]
Rep. Steve Cohen [D-TN]	Rep. Nydia Velazquez [D-NY]	Rep. Sam Farr [D-CA]	Rep. Richard Nolan [D-MN]
Rep. Rosa DeLauro [D-CT]

Date	Chamber	Action
2015-03-25	House	Sponsor introductory remarks on measure. (CR E421)
2015-02-27	House	Referred to the Subcommittee on Energy and Power.
2015-02-24	House	Referred to House Ways and Means
2015-02-24	House	Referred to House Energy and Commerce
2015-02-24	House	Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2015-02-24	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1027/all-info
Text	https://www.congress.gov/114/bills/hr1027/BILLS-114hr1027ih.pdf