H.R. 1689 (111^th): Carbon Capture and Storage Early Deployment Act

3/24/2009--Introduced.

Carbon Capture and Storage Early Deployment Act - Authorizes qualified industry organizations to conduct a referendum among the owners or operators of distribution utilities delivering fossil fuel-based electricity for the creation of a Carbon Storage Research Corporation to establish a program to accelerate the commercial availability of carbon dioxide capture and storage technologies and methods through the provision of grants, contracts, and financial assistance. Requires the Corporation: (1) to be established upon approval of those persons representing two-thirds of the total quantity of fossil fuel-based electricity delivered to retail consumers, unless opposed by 40% state regulatory authorities; and (2) to operate as a division or affiliate of the Electric Power Research Institute . Requires the Corporation, annually, to collect an assessment on such distribution utilities that shall reflect the relative carbon dioxide emission rates of different fossil fuel-based electricity. Sets initial rates of assessment for coal, natural gas, and oil. Authorizes the Corporation to adjust the assessments to reflect changes in the expected quantities of such electricity from different fuel types such that the assessments generate between $1.0 billion and $1.1 billion annually. Sets forth provisions concerning an assessment within the Electric Reliability Council of Texas. Authorizes the Corporation to collect assessments and conduct operations for 10 years. Dissolves the Corporation after 15 years. Requires the Corporation's Board to establish policies regarding the ownership of intellectual property developed as a result of Corporation support that encourage individual ingenuity and invention. Requires the Secretary of Energy to: (1) issue a rule for determining the level and type of fossil fuel electricity delivered to retail customers by each distribution utility; and (2) make and publish such determinations annually. Provides for recovery of a distribution facility's costs of complying with this Act. Establishes the Technical Advisory Committee to provide independent assessments and technical evaluations concerning Corporation activities.