S. 3590 (111th): Carbon Capture and Sequestration Deployment Revenue Act of 2010

Introduced:
Jul 14, 2010 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
John “Jay” Rockefeller IV
Senior Senator from West Virginia
Party
Democrat
Text
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Last Updated
Jul 14, 2010
Length
24 pages
Related Bills
S. 3591 (Related)
Carbon Capture and Sequestration Deployment Act of 2010

Referred to Committee
Last Action: Jul 14, 2010

S. 3589 (Related)
Carbon Capture and Sequestration Deployment Act of 2010

Referred to Committee
Last Action: Jul 14, 2010

 
Status

This bill was introduced on July 14, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 14, 2010
Referred to Committee Jul 14, 2010
 
Full Title

A bill to amend the Internal Revenue Code of 1986 to provide financial incentives to facilitate the development and early deployment of carbon capture and sequestration technologies, and for other purposes.

Summary

No summaries available.

Cosponsors
1 cosponsors (1R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


7/14/2010--Introduced.
Carbon Capture and Sequestration Deployment Revenue Act of 2010 - Amends the Internal Revenue Code to:
(1) expand the tax credit for carbon dioxide sequestration to include carbon dioxide that is converted to a stable form in which it is securely and permanently sequestered;
(2) allow a 30% increase in the qualifying advanced coal project tax credit for the incremental cost of carbon capture and sequestration systems;
(3) allow an increase in the carbon dioxide sequestration tax credit for the use of new or retrofit electric utility or industrial units to provide for carbon capture and sequestration in secure geologic storage; and
(4) allow issuers of qualified carbon sequestration bonds income and excise tax credits for payments of interest with respect to such bonds.
Amends the Energy Policy Act of 2005 to provide additional funding for loan guarantees for: (1) constructing or retrofitting new or existing commercial scale electric generation units or industrial facility units for carbon capture and sequestration; and (2) constructing carbon dioxide transmission pipelines to transport carbon dioxide to sequestration sites or to sites where carbon dioxide will be used for hydrocarbon recovery.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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