Sec. 5. America's Clean Future Fund Stimulus
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In this section, the term eligible individual means, with respect to any quarter, any natural living person— who has a valid Social Security number or taxpayer identification number, who has attained 18 years of age, and whose principal place of abode is in the United States for more than one-half of the most recent taxable year for which a return has been filed. The Secretary of the Treasury, or the Secretary's delegate (referred to in this section as the Secretary ) may verify the eligibility of an individual to receive a carbon fee rebate payment under subsection (b).
Subject to subsections (c)(2) and (k), from amounts in the America's Clean Future Fund established by section 9512(c)(1)(A) of the Internal Revenue Code of 1986 that are available in any year, the Secretary shall, for each calendar quarter beginning after September 30, 2026, make carbon fee rebate payments to each eligible individual, to be known as America's Clean Future Fund Stimulus payments (referred to in this section as carbon fee rebate payments ). With respect to each quarter during any fiscal year beginning after September 30, 2026, the carbon fee rebate payment is 1 pro-rata share for each eligible individual of an amount equal to 25 percent of amounts apportioned under section 9512(c)(1)(A) of the Internal Revenue Code of 1986 for such fiscal year.
From amounts appropriated under subsection (j), the Secretary shall, for each of fiscal years 2025 and 2026, make carbon fee rebate payments to each eligible individual during the third quarter of each such fiscal year. For purposes of this paragraph, the carbon fee rebate payment is 1 pro-rata share for each eligible individual of the amount appropriated under subsection
(j)for the fiscal year. For each fiscal year described in paragraph (1), the Secretary shall, not later than the first day of such fiscal year, publicly announce an estimate of the amount of the carbon fee rebate payment for each quarter during such fiscal year. In this subsection: The term modified adjusted gross income means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933 of the Internal Revenue Code of 1986. The term household member of the taxpayer means the taxpayer, the taxpayer's spouse, and any dependent of the taxpayer. The term threshold amount means— $150,000 in the case of a taxpayer filing a joint return, and $75,000 in the case of a taxpayer not filing a joint return. In the case of any taxpayer whose modified adjusted gross income for the most recent taxable year for which a return has been filed exceeds the threshold amount, the amount of the carbon fee rebate payment otherwise payable to any household member of the taxpayer under this section shall be reduced (but not below zero) by a dollar amount equal to 5 percent of such payment (as determined before application of this paragraph) for each $1,000 (or fraction thereof) by which the modified adjusted gross income of the taxpayer exceeds the threshold amount. Amounts paid under this section shall not be includible in gross income for purposes of Federal income taxes. The carbon fee rebate payment received by any eligible individual shall not be taken into account as income and shall not be taken into account as resources for purposes of determining the eligibility of such individual or any other individual for benefits or assistance, or the amount or extent of benefits or assistance, under any Federal program or under any State or local program financed in whole or in part with Federal funds. Section 6103(l) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: Return information with respect to any taxpayer shall, without written request, be open to inspection by or disclosure to officers and employees of the Department of the Treasury whose official duties require such inspection or disclosure for purposes of administering section 5 of the America's Clean Future Fund Act . Information disclosed under this paragraph shall be disclosed only for purposes of, and to the extent necessary in, carrying out such section. . The Secretary shall prescribe such regulations, and other guidance, as may be necessary to carry out the purposes of this section, including— establishment of rules for eligible individuals who have not filed a recent tax return, and in coordination with the Commissioner of Social Security, the Secretary of Veterans Affairs, and any relevant State agencies, establish methods to identify eligible individuals and provide carbon fee rebate payments to such individuals through appropriate means of distribution, including through the use of electronic benefit transfer cards. The Secretary shall conduct a public awareness campaign, in coordination with the Commissioner of Social Security, the heads of other relevant Federal agencies, and Indian Tribes (as defined in section 4 of the Indian Self-Determination and Education Assistance Act ( 25 U.S.C. 5304 )), to provide information to the public regarding the availability of carbon fee rebate payments under this section. For purposes of subsection (c)(2), there is appropriated, out of any funds in the Treasury not otherwise appropriated, to remain available until expended— for the fiscal year ending September 30, 2025, $37,500,000,000, and for the fiscal year ending September 30, 2026, $37,500,000,000. This section shall not apply to any calendar quarter beginning after— a determination by the Secretary under section 4692(d)(3)(B) of the Internal Revenue Code of 1986; or any period of 8 consecutive calendar quarters for which the amount of carbon fee rebate payment (without application of subsection (d)) during each such quarter is less than $20.
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Sec. 5
America's Clean Future Fund Stimulus
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