Sec. 11. International cooperation
379 words·~2 min read·
/bill/116/s/2754/is/section-11·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subject to subsection (b), no person subject to the requirements of this Act shall trade or transfer a production allowance or, after January 1, 2033, export a regulated substance to a person in a foreign country that, as determined by the Administrator, has not enacted or otherwise established within a reasonable timeframe after the date of enactment of this Act the same or similar requirements or otherwise undertaken commitments regarding the production and consumption of regulated substances as are contained in this Act.
Pursuant to subsection (a), a person in the United States may engage in a trade or transfer of a production allowance— to a person in a foreign country if, at the time of the transfer, the Administrator revises the number of allowances for production under section 6(b), as applicable, for the United States such that the aggregate national production of the regulated substance to be traded under the revised production limits is equal to the least of— the maximum production level permitted for the applicable regulated substance in the year of the transfer under this Act, less the production allowances transferred; the maximum production level permitted for the applicable regulated substances in the transfer year under applicable law, less the production allowances transferred; and the average of the actual national production level of the applicable regulated substances for the 3-year period ending on the date of the transfer, less the production allowances transferred; or from a person in a foreign country if, at the time of the trade or transfer, the Administrator finds that the foreign country has revised the domestic production limits of the regulated substance in the same manner as provided with respect to transfers by a person in United States under this section.
The Administrator may— reduce the production limits established under section 6(b)(2) as required as a prerequisite to a transfer described in subsection (b)(1); or increase the production limits established under section 6(b)(2) to reflect production allowances acquired under a trade or transfer described in subsection (b)(2). The Administrator shall— not later than 1 year after the date of enactment of this Act, promulgate a final rule to carry out this section; and not less frequently than annually, review and, if necessary, revise the final rule promulgated pursuant to paragraph (1).