summary
Introduced
05/26/2021
05/26/2021
In Committee
05/26/2021
05/26/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to provide for the issuance of exempt facility bonds for qualified carbon dioxide capture facilities.
AI Summary
This bill amends the Internal Revenue Code to allow the issuance of tax-exempt private activity bonds for qualified carbon dioxide capture facilities. The key provisions include: defining "qualified carbon dioxide capture facilities" to include eligible components of industrial carbon dioxide facilities and direct air capture facilities, requiring a minimum 65% carbon dioxide capture and storage rate to qualify for full tax-exempt financing, and clarifying that the sale of captured carbon dioxide by a government-owned facility does not constitute private business use. These changes are intended to lower the financing costs of carbon dioxide capture projects and accelerate their deployment, supporting environmental, economic, and national security goals.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Read twice and referred to the Committee on Finance. (on 05/26/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/1829/all-info |
| BillText | https://www.congress.gov/117/bills/s1829/BILLS-117s1829is.pdf |
| Bill | https://www.congress.gov/117/bills/s1829/BILLS-117s1829is.pdf.pdf |
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