CO2 Offsets Policy Enabling Act of 1990

[AI summary unavailable — showing source text] CO2 Offsets Policy Enabling Act of 1990 - Amends the Clean Air Act to prohibit new major sources of carbon dioxide from operating without a permit issued under this Act. Requires new stationary sources to: (1) obtain certified carbon dioxide credits; (2) demonstrate possession of certified credits equal to one year's expected carbon dioxide emissions to the permitting authority before commencing operation; and (3) deposit annually with the permitting authority sufficient credits to compensate for the year's carbon dioxide emissions. Provides that the receipt by the permitting authority of carbon dioxide offset credits shall be a condition of any permit. Directs new sources that use biomass as a fuel to obtain credits sufficient to offset only the fossil fuel used in production of the biomass. Requires new sources that use trees as fuel to obtain credits for all carbon dioxide emissions. Directs new major sources emitting excess carbon dioxide to obtain credits as soon as practicable and to pay a penalty of $250 per ton of excess carbon dioxide. Adjusts such penalty annually according to percentage changes in the Consumer Price Index. Authorizes a permitting authority to certify car…