S 601 114th Congress Senate

ACCTION Act of 2015

Official title: A bill to direct Federal investment in carbon capture and storage and other clean coal technologies, and for other purposes.

Introduced: February 26, 2015 See on congress.gov

Energy Advanced technology and technological innovationsAdvisory bodiesAir qualityBusiness investment and capital

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Climate change and greenhouse gasesCoalCongressional oversightElectric power generation and transmissionEnergy researchEnergy storage, supplies, demandEnvironmental assessment, monitoring, researchEnvironmental technologyGovernment lending and loan guaranteesIncome tax creditsIncome tax deductionsOil and gasPublic-private cooperationResearch and developmentSecurities

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 26, 2015

Read twice and referred to the Committee on Finance.

Feb 26, 2015

Introduced in Senate

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Latest action February 26, 2015

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

Advanced Clean Coal Technology Investment in Our Nation Act of 2015 or the ACCTION Act of 2015

This bill amends the Energy Policy Act of 2005 to require the Department of Energy (DOE) to implement a program to demonstrate the integration of systems for the capture, transportation, and injection of carbon dioxide from industrial sources for long-term geological storage or enhanced oil recovery at a commercial scale.

The types of activities that must be undertaken under the existing coal and related technologies program are expanded. DOE may carry out a Transformational Coal Technology Program.

DOE must establish an advisory committee to report on the carbon capture and sequestration program and the coal and related technologies program.

Projects under the Innovative Technology Loan Guarantee Program are eligible to receive other forms of federal assistance. Within two years, DOE has to give final approval to applications for loan guarantees and make loans for advanced fossil energy technology projects under the Program.

DOE must take steps to streamline and expedite review of federal authorizations for clean coal generating projects.

This bill amends the Internal Revenue Code to: (1) allow accelerated amortization of any mechanical or electronic system which is installed on a coal-fired electric generation unit and which reduces carbon dioxide emissions by specified means; (2) allow a new credit for investment in carbon dioxide capture, transport, and storage property; and (3) create a clean energy coal bond.

This bill establishes the Enhanced Recovery Program, a variable price support program, to accelerate the construction and operation of advanced coal-fueled projects that capture carbon dioxide emissions and sell or use the carbon dioxide for enhanced recovery.

Related & companion bills 1

Bill text 1 version