HR 4622
114th Congress
House
Taxation
Business investment and capital
Climate change and greenhouse gases
Income tax credits
Industrial facilities
Inflation and prices
Carbon Capture Act
Introduced: February 25, 2016
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2016
Referred to the House Committee on Ways and Means.
Feb 25, 2016
Sponsor introductory remarks on measure. (CR H895)
Feb 25, 2016
Introduced in House
Plain-English summary
Carbon Capture Act
This bill amends the Internal Revenue Code, with respect to the tax credit for carbon dioxide sequestration, to: (1) make such credit permanent after 2015; (2) increase such credit after 2024 for a qualified facility originally placed in service after December 31, 2015; (3) allow such credit to a person who disposes of, or uses as a tertiary injectant, the carbon dioxide; and (4) modify the definition of "qualified facility" for purposes of eligibility for such credit to require not less than 150,000 metric tons (currently, 500,000 metric tons) to be captured at such a facility during the taxable year.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1