H.R. 4857 · 115th Congress
CO2 Regulatory Certainty Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CramerSponsor6 cosponsors · 6 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to revise requirements for the secure geological storage of carbon dioxide for the purpose of the tax credit for carbon dioxide sequestration.
What it does: CRS summary · Introduced in House · Jan 19, 2018
CO2 Regulatory Certainty Act
This bill amends the Internal Revenue Code to revise requirements for the secure geological storage of carbon dioxide for the purpose of the tax credit for carbon dioxide sequestration.
The bill establishes a December 31, 2018, deadline and requirements for regulations that the Internal Revenue Service (IRS) is required, under current law, to establish for determining adequate security measures for the geological storage of the carbon dioxide such that carbon dioxide does not escape into the atmosphere.
The IRS regulations must consider the carbon dioxide to be disposed of in secure geological storage if it is stored in compliance with specified rules promulgated by the Environmental Protection Agency under the Clean Air Act and the Safe Drinking Water Act for the geologic sequestration of carbon dioxide, the injection of carbon dioxide, and the criteria and standards for underground injection control programs that are applicable to Class II wells.
The bill also revises the definition of "qualified enhanced oil or natural gas recovery project" to exclude a requirement for the first injection of liquids, gases, or other matter to commence after December 31, 1990.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: CO2 Regulatory Certainty Act
Latest action (Jan 19, 2018): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 19, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.