Establishes the Pollution Reduction Trust Fund to be used to facilitate the implementation of the carbon pollution reduction program.
Directs the Administrator to establish the Sustainable Technologies Finance Program to provide financial assistance for projects that reduce greenhouse gas (GHG) emissions. Amends the Safe Drinking Water Act to repeal the exemption from restrictions on underground injection of fluids or propping agents granted to hydraulic fracturing operations relating to oil and gas production activities under such Act.
Requires state underground injection programs to direct a person conducting hydraulic fracturing operations to disclose: (1) before the commencement of such operations, the chemicals intended for use in underground injections; and (2) after the end of such operations, the chemicals actually used.
Requires the applicable person using hydraulic fracturing, when a medical emergency exists and the proprietary chemical formula of a chemical used in such hydraulic fracturing is necessary for medical treatment, to disclose such formula or the specific chemical identity of a trade secret chemical to the state, the Administrator, or the treating physician or nurse upon request, regardless of the existence of a written statement of need or a confidentiality agreement. Authorizes such person to require the execution of such statement and agreement as soon as practicable.
Directs the Administrator to prescribe an underground injection control program for a state, if the Administrator disapproves a state's program. Repeals provisions concerning optional demonstrations to the Administrator by states that show the effectiveness of such state programs relating to oil or natural gas.
Authorizes civil penalties for violations of underground injection requirements.
Requires the Administrator to: (1) report on the quantity of fugitive methane emissions resulting from any leak in natural gas infrastructure, and (2) enter into an agreement with the National Academy of Sciences to report on the quantity of U.S. GHG emissions not covered by a program under this Act and recommendations for programs to reduce such emissions.
Expresses the sense of Congress that the United States should carry out activities to ensure that, by January 1, 2050, the total quantity of GHG emissions released in the United States is reduced by not less than 80% of the emissions released during 2005.