Bill > S407

This bill, the Carbon Capture Modernization Act, modifies the requirements for the qualifying advanced coal project tax credit under the Internal Revenue Code. Specifically, it reduces the nameplate generating capacity requirement from 400 megawatts to 200 megawatts, removes certain advanced coal-based generation technology requirements, and clarifies the authority to reallocate available tax credits. The bill also establishes sequestration requirements for certain equipment and performance requirements in cases where best available control technology is used. These changes are intended to update and modernize the tax credit program to support advanced coal-based electricity generation with carbon capture capabilities.