S.1151 - Climate Stewardship and Innovation Act of 2005109th Congress (2005-2006)
Summary: S.1151 — 109th Congress (2005-2006)
Introduced in Senate (05/26/2005)
Climate Stewardship and Innovation Act of 2005 - Provides for federal climate change research initiatives and related activities, including: (1) National Science Foundation fellowships for graduate studies in climate change; (2) a report on the impact of the Kyoto Protocol on the United States; (3) abrupt climate change research; (4) research on the impact of climate change on low-income populations worldwide; and (5) a Climate Change Education and Outreach Initiative Program for agricultural organizations and individual farmers.
Directs the Administrator of the Environmental Protection Agency (EPA) to establish and maintain the National Greenhouse Gas Database to collect, verify, and analyze information on greenhouse gas emissions.
Establishes a program for market-driven reduction of greenhouse gases (GHGs) through the use of tradeable allowances. Requires certain covered entities that own or control a source of GHG emissions in the electric power, industrial, and commercial sectors of the U.S. economy to submit to the Administrator, beginning in 2010, one tradeable allowance for every metric ton of GHGs emitted. Allows tradeable allowances to be sold, exchanged, purchased, retired, or otherwise used as permitted by this Act.
Establishes the Climate Change Credit Corporation to manage tradeable allowances.
Renames the Technology Administration in the Department of Commerce as the Innovation Administration. Assigns innovation-related duties to the Secretary of Commerce relating to climate change.
Provides for various climate change innovation initiatives, including: (1) technology transfer opportunities; (2) climate innovation partnerships; (3) a climate change science and technology enhancement program for math and science teachers; (4) agricultural sequestration; and (5) energy efficiency audits.
Establishes a loan guarantee and technology challenge program to encourage technological innovation for reducing GHGs.