target In the case of any year immediately following a year for which the Secretary determines under section 9903(b) that the actual emissions of greenhouse gases from covered fuels exceeded the emissions reduction target for the previous year, paragraph (1)(B)(ii) shall be applied by substituting $15 for the dollar amount otherwise in effect for the calendar year under such paragraph. (B) Cessation of carbon fee rate increase after certain emission reductions achieved In the case of any year immediately following a year for which the Secretary determines under 9903(b) that actual emissions of greenhouse gases from covered fuels is not more than 10 percent of the greenhouse gas emissions from covered fuels during the year 2005, paragraph (1)(B)(ii) shall be applied by substituting $0 for the dollar amount otherwise in effect for the calendar year under such paragraph. (3) Inflation adjustment In the case of any calendar year after 2023, each of the dollar amounts in paragraphs (1)(B) and (2)(A) shall be increased by an amount equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting calendar year 2022 for calendar year 2016 in subparagraph (A)(ii) thereof. (d) Exemption and refund The Secretary shall prescribe such rules as are necessary to ensure the fee imposed by this section is not imposed with respect to any nonemitting use, or any sale or transfer for a nonemitting use, including rules providing for the refund of any carbon fee paid under this section with respect to any such use, sale, or transfer. (e) Exemptions (1) Agriculture (A) Fuel If any covered fuel or its derivative is used on a farm for a farming purpose, the Secretary shall pay (without interest) to the ultimate purchaser of such covered fuel or its derivative, the total amount of carbon fees previously paid upon that covered fuel or its derivative, as specified by rule of the Secretary. (B) Farm, farming use, and farming purpose The terms