To amend the Clean Air Act to require the Administrator of the Environmental Protection Agency to make available for sale renewable fuel credits, and for other purposes.
About This Bill
Committee
Latest Action · July 11, 2023
Read twice and referred to the Committee on Environment and Public Works.
This bill amends the Clean Air Act to create a new program allowing the Environmental Protection Agency to sell renewable fuel credits to companies that must meet renewable fuel requirements. Companies facing compliance costs can purchase these credits at a price capped at twenty cents per credit, adjusted for inflation over time. The revenue generated from credit sales would be divided equally three ways: one-third to the EPA for grants supporting advanced biofuel development, one-third to the Department of Agriculture for helping farmers invest in alternative crops, and one-third to a new Habitat and Wildlife Restoration Fund managed by the Interior Department to protect grasslands, wetlands, and forests affected by agricultural expansion. The bill affects fuel producers and refiners with renewable fuel obligations under existing law, as well as agricultural producers and conservation efforts in areas experiencing significant crop production growth.
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