AN ACT
to combat climate change through energy investment and construction
Section I (Title)
i. The title of this Act shall be the “Green Futures Act”.
Section II (Declaration of Intents)
i. The Commonwealth of Fremont hereby recognizes the deleterious threat posed by the phenomenon of climate change, and pledges to become carbon-neutral by the year 2050.
Section III (Phasing Out Fossil Fuels)
i. The Commonwealth of Fremont shall immediately cease providing subsidies to the fossil fuel industry.
ii. All offshore drilling within the Commonwealth of Fremont shall be banned. In addition, drilling in the Arctic National Wildlife Refuge shall immediately cease upon passage of this bill.
iii. A 5-year moratorium on fracking, beginning upon the passage of this bill, will be implemented in the Commonwealth of Fremont. After 5 years, an independent committee appointed by the Department of Energy will recommend if the moratorium should be lifted, or should become permanent. A two-thirds majority in this body will be required to lift the moratorium.
iv. The phasing out of petroleum drilling within the Commonwealth of Fremont shall occur gradually by December 31, 2028, and the phasing out of coal mining within the Commonwealth of Fremont shall occur gradually by December 31, 2025. After the specified dates, these procedures shall be banned.
v. Any company that ceases petroleum drilling by December 31, 2024 or coal mining by December 31, 2022 shall receive a 2% tax credit for the next fiscal year. Any company that completely ceases either operation by December 31, 2021 shall receive a 5% tax credit for Fiscal Year 2022.
vi. Production of ‘nitrous oxide’ engines within the Commonwealth of Fremont shall be immediately banned.
vii. Beginning on January 1, 2030, a 5% tax on all fossil fuel imports shall be introduced. This tax will be increased to 10% on January 1, 2040, then to 20% on January 1, 2045. All proceeds from this tax shall be used to fund renewable energy subsidies construction.
viii. A Fremont Commission on Emissions Caps shall be appointed immediately following the passage of this bill, and will be responsible for setting caps for carbon dioxide, methane, and nitrous oxide emissions, effective January 1, 2025. The cap shall be decreased by 4% every year.
ix. Any company exceeding the emissions cap will be charged an additional 1% in corporate tax for every percent that they are over the limit.
x. Any company in violation of a clause in this Section (excluding clauses viii-ix) will be fined no less than $25 million. Any company that violates a clause more than once, or is in violation of multiple clauses, will be fined no less than $35 million or 10% of their profits, per violation, from the fiscal year the violation occurred, whichever sum is greater.
xi. Corporations who reduce their carbon emissions by 20% from their 2020 levels by 2025, 50% by 2035, and/or 80% by 2045, shall receive a 3% tax credit for the two following fiscal years.
Section IV (Solar Loans Project)
i. The Commonwealth of Fremont shall install solar panels on all public buildings by 2025, where feasible.
ii. The Commonwealth of Fremont will offer zero-interest loans to individual households, apartments, and legally-recognized small businesses to cover the cost of solar panel installation where feasible, with priority being given to residents of the Northern Mariana Islands, Guam, Atlasian Samoa, Hawai’i, California, Nevada, Arizona, Utah, New Mexico, and Colorado, or those residing in regions with more average sunny days per annum.
iii. These loans will be paid back through the withholding of solar power reimbursement in monthly energy bills. The loan will be required to have been paid back in full 20 years after the loan was issued.
iv. All households that are legally considered below the poverty line, and have a yearly income of below $43,000, will only be required to pay back 80% of the loan.
v. Landlords and employers are forbidden from increasing rent for tenants or decreasing pay for employees due to financial considerations related to Fremont solar loans. Any landlords or employers in violation will be required to reimburse their tenants and/or employees, and will be additionally fined no less than $20,000.
vi. Individual citizens, landlords and small businesses will be eligible for loans once every 15 years.
Section V (Subsidies and Nuclear Power)
i. The Commonwealth of Fremont shall provide $40 million in subsidies to the solar power industry per year for the next 10 years, after which point the Parliament may decide to increase the subsidy, decrease it, or eliminate it.
ii. The Commonwealth of Fremont shall provide $50 million in subsidies to the wind power industry per year for the next 10 years, after which point the Parliament may decide to increase the subsidy, decrease it, or eliminate it.
iii. The Commonwealth of Fremont shall provide $35 million in subsidies to the hydroelectric industry per year for the next 10 years, after which point the Parliament may decide to increase the subsidy, decrease it, or eliminate it.
iv. The Commonwealth of Fremont shall provide $25 million in subsidies to miscellaneous renewable energy industries (including, but not limited to: geothermal power, tidal power, and biomass) per year for the next 10 years, after which point the Parliament may decide to increase the subsidy, decrease it, or eliminate it.
v. The Commonwealth of Fremont shall provide $200 million in yearly subsidies to fund cutting-edge research collaborations between the Fremont Department of Energy, universities, and private companies, with the goal of both making existing green technology cheaper and creating new, affordable green technology. Targets of research shall include, but will not be limited to:
a. creating emission-free air conditioning and refrigeration solutions,
b. decarbonizing the agriculture industry,
c. creating more effective batteries and means of energy storage,
d. inventing carbon-capture methods to either store carbon in the ground or for use in new products,
e. creating new technology to make buildings net-zero emissions
f. decarbonizing goods production, and
g. reducing the cost of clean-energy motor vehicles.
vi. The Commonwealth of Fremont shall offer Clean Vehicle Rebates of up to $10,000, depending on engine size.
vii. These subsidies shall be effective upon the passage of the next Budget.
viii. A Fremont Commission on Nuclear Power shall be appointed immediately following the passage of this bill. The Commission will evaluate the feasibility of widespread nuclear construction in Fremont, and will determine the level of risk for contamination and potential gains in carbon-free energy output. The Commission will present a report to Parliament, detailing its findings, by January 1, 2025 at the latest.
Section VI (Renewable Energy Construction)
i. The Fremont Department of Energy shall investigate the possibility of upgrading current green energy installations, initiating green energy construction on federally-owned land, and converting existing energy plants to renewable energy, considering the following factors to determine the viability of proposed projects;
a. estimated reduction in carbon emissions
b. proximity to population centers
c. cost, and
d. environmental impact
ii. The Fremont Department of Energy will contract approved construction projects to private construction corporations, with set budget, quality standards and timeline. If the contracted builders exceed their budget by more than 10%, they will pay a fine equivalent to 115% of the amount by which they have exceeded their budget. If the contracted builders fail to meet quality standards or their timeline, as defined by the Department of Energy, they will be fined no less than 10% of their monetary compensation, and may be blacklisted from receiving federal building contracts depending on the severity of the violation.
