Carbon Capture, Utilization, and Storage Tax Credit Amendments Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Mar 25, 2021)
Carbon Capture, Utilization, and Storage Tax Credit Amendments Act of 2021
This bill extends the carbon oxide sequestration tax credit through 2030. It also permits taxpayers to elect to receive a payment in lieu of the tax credits for carbon oxide sequestration and qualifying advanced coal projects.
The bill also makes other modifications to certain carbon sequestration credits, including (1) an allowance of carbon sequestration credits against the base erosion minimum tax, (2) modifications to sequestration requirements for certain qualifying advanced coal project credit equipment, and (3) increasing the sequestration credit value for direct air capture projects.
What just happenedMar 25, 2021
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateMar 25, 2021
- Mar 25, 2021IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Mar 25, 2021IntroReferral10000
Introduced in Senate