S.843 - Carbon Capture Improvement Act of 2017115th Congress (2017-2018) |
|Sponsor:||Sen. Bennet, Michael F. [D-CO] (Introduced 04/05/2017)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 04/05/2017 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.843 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (04/05/2017)
Carbon Capture Improvement Act of 2017
This bill amends the Internal Revenue Code to authorize the issuance of tax-exempt facility bonds for the financing of qualified carbon dioxide capture facilities.
A "qualified carbon dioxide capture facility" is any equipment installed in an industrial carbon dioxide facility that satisfies specified capture and storage requirements and: (1) is used for the capture, treatment and purification, compression, transportation, or on-site storage of carbon dioxide produced by the industrial carbon dioxide facility; or (2) is integral or functionally related and subordinate to a gasification process that converts a product from coal, petroleum residue, biomass, or other materials which are recovered for their energy or feedstock value into a synthesis gas composed primarily of carbon dioxide and hydrogen for direct use or subsequent chemical or physical conversion.