H.R. 1805 · 117th Congress
Tradeable Performance Standard Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CastenSponsor2 cosponsors · 2 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill establishes the Greenhouse Gas Pollution Reduction Program, which creates (1) targets to eliminate greenhouse gas emissions from cogeneration facilities (e.g., combined power plants), electric facilities, and thermal energy facilities; (2) a system to allow such facilities to achieve the targets through a voluntary emission trading program; and…
What it does: CRS summary · Introduced in House · Mar 11, 2021
Tradeable Performance Standard Act
This bill establishes the Greenhouse Gas Pollution Reduction Program, which creates (1) targets to eliminate greenhouse gas emissions from cogeneration facilities (e.g., combined power plants), electric facilities, and thermal energy facilities; (2) a system to allow such facilities to achieve the targets through a voluntary emission trading program; and (3) a thermal energy reporting program.
By 2030, such facilities must reduce greenhouse gas emissions to 60% of 2019 levels. By 2040, the facilities must eliminate the emissions.
Facilities that emit more than the targets must purchase emission allowances from those who emit less. The bill provides for the distribution, trading, and tracking of such allowances. The bill establishes civil penalties for facilities that do not meet the targets and do not submit enough allowances.
Finally, the Environmental Protection Agency must establish a thermal energy reporting program. Under the program, thermal energy facilities must provide information about the fuel used to produce thermal energy and the greenhouse gas emissions associated with such production. Further, thermal energy facilities must submit information to demonstrate their compliance with this bill.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Tradeable Performance Standard Act
Latest action (Mar 12, 2021): Referred to the Subcommittee on Environment and Climate Change.
Policy area: Environmental Protection · Origin: House · Introduced: Mar 11, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.