S. 2288 · 113th Congress
Expanding Carbon Capture through Enhanced Oil Recovery 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
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 - Amends the Internal Revenue Code to revise and expand the tax credit program for carbon dioxide sequestration by directing the Secretary of the Treasury to establish: (1) a process for annual competitive bidding for carbon dioxide sequestration credits, (2) a certification process that…
What it does: CRS summary · Introduced in Senate · May 5, 2014
Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 - Amends the Internal Revenue Code to revise and expand the tax credit program for carbon dioxide sequestration by directing the Secretary of the Treasury to establish: (1) a process for annual competitive bidding for carbon dioxide sequestration credits, (2) a certification process that guarantees the availability of the credit for private sector companies investing in commercial-scale carbon capture projects, (3) criteria for revoking the certification of a project that does not meet specified timelines for beginning construction and operations and that makes materially inaccurate representations in the bidding process, (4) an external review of the annual competitive bidding process by a panel of independent experts to improve such process and ensure its transparency and effectiveness, and (5) a review process for determining the actual and projected increase in federal revenues attributable to the competitive bidding process and credit allocations under this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014
Latest action (May 5, 2014): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 5, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.