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Tax Credit Changes for Carbon Capture Technologies

This act modifies tax credits for projects capturing carbon dioxide from coal-fired power plants. The goal is to support technologies that reduce pollution, potentially impacting air quality and future energy costs for citizens.
Key points
Changed carbon capture requirements for some projects, potentially making it easier to qualify for tax credits.
Reduced the minimum power plant capacity eligible for credits, opening opportunities for smaller facilities.
Simplified rules for advanced coal technologies, which may accelerate the adoption of new solutions.
Streamlined the reallocation process for unused tax credits to ensure more efficient use of funds.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_661
Sponsor: Sen. Hoeven, John [R-ND]
Process start date: 2021-03-10
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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 Modernization Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_661.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-10.

What are the main provisions?

Key points include:

  • Changed carbon capture requirements for some projects, potentially making it easier to qualify for tax credits.
  • Reduced the minimum power plant capacity eligible for credits, opening opportunities for smaller facilities.
  • Simplified rules for advanced coal technologies, which may accelerate the adoption of new solutions.
  • Streamlined the reallocation process for unused tax credits to ensure more efficient use of funds.
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. Hoeven, John [R-ND].

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