S. 4765

Let America Build Act of 2026

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I Oil and gas leasing and permitting

A Onshore and offshore oil and gas leasing

B Permitting of Federal oil and gas minerals

C Liquefied natural gas exports

II Mineral leasing and permitting

III Federal Energy Regulatory Commission

Sec. 3001. Federal authorizations under the Natural Gas Act

Section 15 of the Natural Gas Act (15 U.S.C. 717n) is amended—

(1) in subsection (a), by striking (a) In this section, and inserting the following:

Text this section adds to the law

(a) Definition of Federal authorization. In this section,

(2) in subsection (e)—

(A) in the second sentence, by striking In any proceeding and inserting the following:

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(2) Proceedings. In any proceeding

; and

(B) by striking (e) Hearings under this act and inserting the following:

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(e) Hearings and proceedings

(1) Hearings. Hearings under this Act

(3) in subsection (f)—

(A) in the second sentence, by striking No informality and inserting the following:

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(2) Informalities. No informality

; and

(B) by striking (f) All hearings, and inserting the following:

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(f) Governing rules

(1) In general. All hearings,

; and

(4) by inserting after subsection (f) the following:

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(g) Additional requirements

(1) Definition of Effects. In conducting a review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) relating to any Federal authorization (or to any other decision relating to the issuance of an order or certificate, or the approval or denial of an application, under section 3 or 7), the Commission shall consider the term effects, as used in that Act with respect to impacts and effects, to mean physical changes to the human environment as a result of a proposed action or alternative action to be carried out by a Federal agency that—

(A) are reasonably foreseeable, not speculative, and not remote in time or geographically remote;

(B) have a reasonably close causal relationship that is not the product of a lengthy causal chain to the proposed action or alternative action, respectively, as determined by the Commission;

(C) the Commission has the ability to prevent and that would not occur absent the proposed action or alternative action; and

(D) do not constitute potential effects from emissions upstream or downstream of the facility that is the subject of the application under section 3 or 7.

(2) Requirement. For purposes of paragraph (1)(B), a but for causal relationship is insufficient to establish a reasonably close causal relationship.

(3) Alternatives. In conducting a review described in paragraph (1), any alternatives required to be analyzed under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) by the Commission shall—

(A) meet the purpose and need for the proposed action;

(B) where applicable, meet the goals of the applicant; and

(C) be within the authority of the Federal agency to control.

(4) No use of social cost metrics. In conducting a review described in paragraph (1), the Commission shall not consider or apply any metric that purports to estimate the monetized damages or benefits associated with incremental increases or decreases in greenhouse gas emissions.