Number: RS22834
Title: Agriculture and Forestry Provisions in Climate Change Legislation (S. 3036)
Authors: Renee Johnson, Resources, Science, and Industry Division 
Abstract: This report summarizes some of the domestic agriculture and forestry provisions in the Lieberman-Warner Climate Security Act of 2008 (S. 3036, formerly S. 2191), as ordered reported out of the Senate Committee on Environment and Public Works in December 2007. The bill directs the Administrator of the U.S. Environmental Protection Agency to establish a program to decrease greenhouse gas (GHG) emissions. The bill's cap-and-trade framework establishes a tradeable allowance system that includes a combination of auctions and free allocation of tradeable allowances. As part of this overall framework, S. 3036 includes three design mechanisms that may provide financial incentives to encourage land-based agricultural and forestry activities. These include provisions on carbon offsets, set-aside allowances, and auction proceeds.
Pages: 6
Date: June 3, 2008