Managed Carbon Price Act of 2014

[AI summary unavailable — showing source text] Managed Carbon Price Act of 2014 - Amends the Internal Revenue Code to require covered persons (i.e., U.S. coal producers, oil refinery operators, first sellers of natural gas, and producers of other greenhouse gas [GHG] emission substances and importers of any GHG emission substance) to purchase a federal emission permit from the Secretary of the Treasury for the sale, combustion, or other use of such a substance. Exempts from such requirement use of a GHG emission substance: (1) as material in the production of another article by such person, or (2) for noncombustion agricultural purposes. Requires the Secretary to impose a GHG emission permit equivalency fee on imports of carbon intensive goods. Requires federal emission permits to be: (1) denominated in one-quarter carbon dioxide equivalents, and (2) purchased within 14 calendar days before or after a GHG emission substance is produced or entered into the United States. Requires the Secretary to: (1) establish a price for obtaining a permit for a year based on a determination of the dollar amount necessary to meet specified emissions reductions targets, (2) publish a five-year price schedule for permits by January 1, 2016, for …