Prohibits the Administrator of the Environmental Protection Agency (EPA) from finalizing any rule imposing a standard of performance under the Clean Air Act for carbon dioxide emissions from any existing or new source that is a fossil fuel-fired electric utility generating unit until:

• the Administrator determines that carbon capture and storage is the best system of emission reduction; and
• carbon capture and storage is found to be technologically and economically feasible for such units in a report submitted by at least three of the following officials: the Administrator of the Energy Information Administration, the Comptroller General (GAO), the Director of the National Energy Technology Laboratory, and the Under Secretary of Commerce for Standards and Technology.

Prohibits the Administrator, in proposing or finalizing any such rule, from combining in the same category of stationary sources: (1) an electric utility steam generating unit that is constructed for supplying more than one-third of its potential electric output capacity and more than 25 megawatt net-electrical output to any utility power distribution system for sale, and (2) a combined cycle electric generating unit that is subject to standards of performance for stationary combustion turbines.