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Code · BILL · 119th Congress · H.R. 6918 (Introduced in House) — To amend the Clean Air Act to establish a program to annually phase down greenhouse gas emissions, and for other purp... · Sec. 107

Sec. 107. Emission allowance market oversight

239 words·~1 min read·/bill/119/hr/6918/ih/section-107·

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In this section, the term emission allowance means any emission allowance established or issued under title VII of the Clean Air Act, or any derivative of such allowance. Not later than 1 year after the date of enactment of this section, the President shall establish an interagency working group to support the oversight of emission allowance transactions. Such working group shall include representatives from— the Environmental Protection Agency; the Federal Energy Regulatory Commission; the Commodity Futures Trading Commission; and other relevant Federal agencies as determined by the President.
The working group shall make periodic recommendations to Congress and relevant Federal agencies to— provide for effective and comprehensive market oversight of emission allowance transactions; prohibit fraud, market manipulation, and excess speculation related to emission allowance transactions; limit unreasonable fluctuation in the prices of emission allowances; ensure market transparency to provide for efficient price discovery, prevention of fraud, market manipulation, and excess speculation; and facilitate compliance with title VII of the Clean Air Act.
Not later than 3 years after the date of enactment of this section, and biennially thereafter, the interagency working group shall submit to the President and Congress a written report that includes the recommendations made under paragraph
(2)for— regulations and other actions to be taken by Federal agencies to enhance the oversight of emission allowance transactions; and statutory changes needed to ensure the proper operation and oversight of transparent, fair, stable, and efficient emission allowance transactions.
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