S. 2287 · 113th Congress
Carbon Capture and Sequestration Deployment Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
RockefellerSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Carbon Capture and Sequestration Deployment Act of 2014 - Directs the Department of Energy (DOE) to establish a cooperative industry-government research and development program to demonstrate innovative technologies to capture, prevent, or store carbon dioxide (CO2) emissions from carbon-based fuels or to enable the beneficial use of CO2.
What it does: CRS summary · Introduced in Senate · May 5, 2014
Carbon Capture and Sequestration Deployment Act of 2014 - Directs the Department of Energy (DOE) to establish a cooperative industry-government research and development program to demonstrate innovative technologies to capture, prevent, or store carbon dioxide (CO2) emissions from carbon-based fuels or to enable the beneficial use of CO2.
Requires DOE to conduct an annual assessment of existing programs supporting carbon capture and sequestration (CCS) technology until that technology is available in commerce. (CCS is a three-step process: the capture, transport, and underground injection and geologic sequestration of CO2.)
Amends the Internal Revenue Code, with respect to the tax credit for CO2 sequestration, to: (1) impose limitations on the allocation of credit amounts for carbon capture projects, including a 10-year limitation on CO2 capture at a qualified facility (defined as an industrial facility which captures not less than 500,000 metric tons of CO2 in a taxable year); (2) require the Secretary of the Treasury to establish procedures for allocating the national limitation on such credit to projects for placing carbon capture equipment (i.e., equipment to capture and pressurize qualified CO2) in service at qualified facilities and for certifying projects for which an allocation has been made; and (3) identify as eligible for such credit the taxpayer who captures and disposes of the qualified CO2.
Amends the Energy Policy Act of 2005 to authorize DOE to make loan guarantees to: (1) construct or retrofit coal- or petroleum coke-fired industrial facilities or electric generation facilities to utilize CCS technology, and (2) construct pipelines for the transport of CO2 to sequestration sites or to sites where the C02 will be used for hydrocarbon recovery. Expands the qualifying advanced coal project investment tax credit to include an additional amount for the costs of constructing and retrofitting such facilities.Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Carbon Capture and Sequestration Deployment Act of 2014
Latest action (May 5, 2014): Read twice and referred to the Committee on Finance.
Policy area: Energy · Origin: Senate · Introduced: May 5, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.