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Tax Relief for Carbon Dioxide Capture Technologies

This new law aims to reduce the financing costs for projects related to capturing carbon dioxide from the air and industrial facilities. This will make it easier for companies to invest in technologies that help protect the environment, potentially leading to improved air quality and fostering industrial innovation.
Key points
The act allows for tax exemptions on bonds used to finance carbon dioxide capture facilities.
This includes technologies that capture CO2 from power plants, industrial facilities (e.g., cement, fertilizer production), and directly from the air.
The goal is to accelerate the deployment of these technologies, which is intended to help protect the environment and support the economy.
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Additional Information
Print number: 117_S_1829
Sponsor: Sen. Bennet, Michael F. [D-CO]
Process start date: 2021-05-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Carbon Capture Improvement Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1829.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-05-26.

What are the main provisions?

Key points include:

  • The act allows for tax exemptions on bonds used to finance carbon dioxide capture facilities.
  • This includes technologies that capture CO2 from power plants, industrial facilities (e.g., cement, fertilizer production), and directly from the air.
  • The goal is to accelerate the deployment of these technologies, which is intended to help protect the environment and support the economy.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Bennet, Michael F. [D-CO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Environment Economy