EMPLOY Act

[AI summary unavailable — showing source text] EMPLOY Act or the Emission Migration Prevention with Long-term Output Yields Act - Requires the Administrator of the Environmental Protection Agency (EPA) to distribute emission allowances (authorizations to emit one carbon dioxide equivalent of greenhouse gas) annually in specified amounts to the owners and operators of facilities in eligible industrial sectors under a domestic cap and trade program, subject to a maximum quantity limitation. Requires the Administrator to promulgate a rule designating the industrial sectors and subsectors (sectors) in which facility owners or operators may receive emission allowances. Requires allowances to be given to a owners or operators of facilities in sectors that are included in a six-digit classification of the 2007 North American Industrial Classification System and that meet either the energy intensity criteria or greenhouse gas (GHG) intensity criteria and the trade intensity criteria. Authorizes the Administrator to rescind the eligibility of a sector only if it does not meet such criteria and would not be subject to carbon leakage in the absence of the allowance distribution. Defines "carbon leakage" to mean any substantial i…