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Full Text of this Amendment

SA 4843. Mr. ALLARD submitted an amendment intended to be proposed by him to the bill S. 3036, to direct the Administrator of the Environmental Protection Agency to establish a program to decrease emissions of greenhouse gases, and for other purposes; which was ordered to lie on the table; as follows:

On page 64, strike lines 6 through 12 and insert the following:
(c) Legal Status.--
(1) IN GENERAL.--An emission allowance shall constitute a property right.
(2) COMPENSATION.--The Administrator shall provide to the holder of an emission allowance just compensation for the termination or limitation of the emission allowance.

(As printed in the Congressional Record for the Senate on Jun 4, 2008.)