Skip to main content
S. 986 117th Congress Senate

Carbon Capture, Utilization, and Storage Tax Credit Amendments Act of 2021

Official title: A bill to amend the Internal Revenue Code of 1986 to provide for a 5-year extension of the carbon oxide sequestration credit, and for other purposes.

Introduced: March 25, 2021 Introduced by: Tina Smith Democratic · Minnesota See on congress.gov
Taxation Air qualityBusiness investment and capitalClimate change and greenhouse gasesCoal
More subjectsShow fewer subjects
Electric power generation and transmissionEnvironmental technologyIncome tax creditsIncome tax ratesOil and gasPublic utilities and utility ratesTax administration and collection, taxpayersTax-exempt organizations
Sign in to write a letter Sign in to watch
This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 25, 2021
Read twice and referred to the Committee on Finance.
Mar 25, 2021
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action March 25, 2021

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 2
  • S 661 Carbon Capture Modernization Act
  • HR 1760 Carbon Capture Modernization Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 16
All 16 Democratic 9 Republican 7
D
Duckworth, Tammy
Illinois · May 20, 2021
 R
Fischer, Deb
Nebraska · Apr 27, 2021
 D
Heinrich, Martin
New Mexico · Apr 20, 2021
 D
Hickenlooper, John W.
Colorado · Apr 15, 2021
 R
Barrasso, John
Wyoming · Mar 25, 2021
 R
Capito, Shelley Moore
West Virginia · Mar 25, 2021
 D
Coons, Christopher A.
Delaware · Mar 25, 2021
 R
Cramer, Kevin
North Dakota · Mar 25, 2021
 D
Durbin, Richard J.
Illinois · Mar 25, 2021
 R
Ernst, Joni
Iowa · Mar 25, 2021
 R
Grassley, Chuck
Iowa · Mar 25, 2021
 R
Hoeven, John
North Dakota · Mar 25, 2021
 D
Klobuchar, Amy
Minnesota · Mar 25, 2021
 D
Luján, Ben Ray
New Mexico · Mar 25, 2021
 D
Schatz, Brian
Hawaii · Mar 25, 2021
 D
Whitehouse, Sheldon
Rhode Island · Mar 25, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 986: Carbon Capture, Utilization, and Storage Tax Credit Amendments Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-986/
MLA
"S. 986: Carbon Capture, Utilization, and Storage Tax Credit Amendments Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-986/.
Bluebook (legal)
S. 986, 117th Cong. (2026), https://openamerica.io/bill/117-S-986/.
Markdown link
[S. 986: Carbon Capture, Utilization, and Storage Tax Credit Amendments Act of 2021](https://openamerica.io/bill/117-S-986/)
Report a problem