Bill > HR4408

This bill, the Carbon Capture Improvement Act of 2021, aims to amend the Internal Revenue Code to allow for the issuance of tax-exempt private activity bonds to finance qualified carbon dioxide capture facilities. These facilities include eligible components of industrial carbon dioxide facilities, as well as direct air capture facilities, that have a capture and storage percentage of at least 65%. The bill also clarifies that the sale of carbon dioxide produced by a qualified facility owned by a governmental unit does not constitute private business use for the purposes of tax-exempt bond financing. The goal is to reduce the financing costs of carbon dioxide capture projects, accelerating their deployment and helping the United States meet its environmental, economic, and national security goals.

Budget and Finance

https://www.congress.gov/bill/117th-congress/house-bill/4408/all-info