CO2 Regulatory Certainty Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Sep 28, 2016)
CO2 Regulatory Certainty Act
This bill amends the Internal Revenue Code to revise requirements for the secure geological storage of carbon dioxide for the purpose of the tax credit for carbon dioxide sequestration.
The bill establishes a December 31, 2016, deadline and requirements for regulations that the Internal Revenue Service (IRS) is required, under current law, to establish for determining adequate security measures for the geological storage of the carbon dioxide such that carbon dioxide does not escape into the atmosphere.
The IRS regulations must consider the carbon dioxide to be disposed of in secure geological storage if it is stored in compliance with specified rules promulgated by the Environmental Protection Agency under the Clean Air Act and the Safe Drinking Water Act for the geologic sequestration of carbon dioxide, the injection of carbon dioxide, and the criteria and standards for underground injection control programs that are applicable to Class II Wells.
What just happenedSep 28, 2016
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseSep 28, 2016
- Sep 28, 2016IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Sep 28, 2016IntroReferralIntro-H
Introduced in House
- Sep 28, 2016IntroReferral1000
Introduced in House