United States 116th Congress Status: In Committee 1 D cosponsors

S 940 — Healthy Climate and Family Security Act of 2019

Last action — Read twice and referred to the Committee on Finance.

Track this bill free

No card. One bill, free forever — alerts when it moves.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Healthy Climate and Family Security Act of 2019 This bill requires 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 2019, 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. This bill establishes a declining cap on the quantity of permits issued to reduce CO2 emissions until 2040 when the permits issued represent an amount 80% below 2005 CO2 emission levels. 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. This excludes gases attributable to the production of animals for food.

Bill Text

How this bill changes current law

13 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill introduces a new subtitle to the Internal Revenue Code establishing a cap and trade program for carbon emissions, implementing a requirement to purchase carbon permits and distributing dividends to eligible individuals.

  • Internal Revenue Code of 1986

    Subtitle L--Auction of Carbon Permits and Distribution of Healthy Climate Dividends

    Establishes a new subtitle for the auction of carbon permits and related provisions.

  • Internal Revenue Code of 1986

    Chapter 101. Cap and Dividend Program Rules.

    Creates a new chapter focused on the rules for the cap and dividend program.

  • Internal Revenue Code of 1986

    Chapter 102. Healthy Climate Dividends.

    Establishes a chapter for distributing climate dividends.

  • Internal Revenue Code of 1986

    Chapter 103. Border Adjustments.

    Incorporates a chapter addressing border adjustments related to the program.

  • Internal Revenue Code of 1986

    Sec. 9901. Definitions.

    Introduces definitions specific to the new subtitle relating to carbon permits.

  • Internal Revenue Code of 1986

    Sec. 9902. Carbon permits.

    Establishes provisions for the creation and management of carbon permits.

  • Internal Revenue Code of 1986

    Sec. 9903. Auctions.

    Mandates periodic public auctions of carbon permits.

  • Internal Revenue Code of 1986

    Sec. 9904. Compliance obligation.

    Imposes compliance obligations on covered entities to surrender carbon permits.

  • Internal Revenue Code of 1986

    Sec. 9905. Penalty for noncompliance.

    Sets penalties for entities that fail to comply with the carbon permit requirements.

  • Internal Revenue Code of 1986

    Sec. 9906. Carbon capture and sequestration.

    Includes provisions for carbon capture and sequestration in relation to the carbon permit program.

  • Internal Revenue Code of 1986

    Sec. 9907. Trading.

    Allows for the trading of carbon permits among covered entities.

  • Internal Revenue Code of 1986

    Sec. 9908. Banking and borrowing.

    Facilitates banking and borrowing of carbon permits for flexibility among covered entities.

  • Internal Revenue Code of 1986

    The Secretary shall promulgate regulations to carry out the provisions of this subtitle.

    Requires the Secretary to establish regulations to implement the subtitle's provisions.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

Show all 546 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

environment health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 940 do?
Healthy Climate and Family Security Act of 2019 This bill requires 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 2019, 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. This bill establishes a declining cap on the quantity of permits issued to reduce CO2 emissions until 2040 when the permits issued represent an amount 80% below 2005 CO2 emission levels. 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. This excludes gases attributable to the production of animals for food.
Who sponsors S 940?
S 940 is sponsored by Van Hollen, Chris (Democratic).
What is the current status of S 940?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 940?
Track S 940 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on S 940

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of S 940

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →