PROHIBITION ON PARTICIPATION IN THE EUROPEAN UNION’S EMISSIONS TRADING SCHEME.

SEC. 2. [49 U.S.C. 40101 note] PROHIBITION ON PARTICIPATION IN THE EUROPEAN UNION’S EMISSIONS TRADING SCHEME. (a) In General.—The Secretary of Transportation shall prohibit an operator of a civil aircraft of the United States from participating in the emissions trading scheme unilaterally established by the European Union in EU Directive 2003/87/EC of October 13, 2003, as amended, in any case in which the Secretary determines the prohibition to be, and in a manner that is, in the public interest, taking into account— (1) the impacts on U.S. consumers, U.S. carriers, and U.S. operators; (2) the impacts on the economic, energy, and environmental security of the United States; and (3) the impacts on U.S. foreign relations, including existing international commitments. (b) Public Hearing.—After determining that a prohibition under this section may be in the public interest, the Secretary must hold a public hearing at least 30 days before imposing any prohibition. (c) Reassessment of Determination of Public Interest.—The Secretary— (1) may reassess a determination under subsection (a) that a prohibition under that subsection is in the public interest at any time after making such a determination; and (2) shall reassess such a determination after— (A) any amendment by the European Union to the EU Directive referred to in subsection (a); or (B) the adoption of any international agreement pursuant to section 3(1). (C) enactment of a public law or issuance of a final rule after formal agency rulemaking, in the United State to address aircraft emissions.