Summary: H.R.2323 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.2323. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/27/2001)

National Electricity and Environmental Technology Act - Directs the Secretary of Energy to: (1) perform an assessment that establishes cost and performance goals with respect to technologies that would permit the continued cost-competitive use of coal for electricity generation, chemical feedstocks, and transportation fuel in 2007, 2015, and 2020; (2) biennially transmit to Congress the results of a study to identify technologies capable of achieving specified cost and performance goals; and (3) implement under specified Federal law a research and development program, including commercial application of coal-based technologies.

Directs the Secretary to establish a clean coal power commercial applications initiative that will demonstrate commercial applications of advanced coal-based technologies applicable to new or existing power plants, including coproduction plants.

Amends the Internal Revenue Code to establish tax credits for: (1) investment in qualifying clean coal technology; (2) production from a qualifying clean coal technology unit; (3) investment in qualifying advanced clean coal technology facilities; and (4) production from qualifying advanced clean coal technology. Mandates creation of a Federal risk pool for qualifying advanced clean coal technology.

Treats such tax credits as refundable overpayments (excessive credits) with respect to specified organizations and governmental units.