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Carbon Capture Tax Credits and Advanced Coal Projects Extension

This act extends tax credits for carbon capture and supports advanced coal technology projects. It aims to encourage investments in technologies that reduce greenhouse gas emissions, potentially impacting air quality and fostering new jobs in the energy sector.
Key points
Extension of carbon oxide sequestration tax credit until January 1, 2031.
Introduction of an elective payment option for carbon oxide sequestration and advanced coal projects.
Enhanced tax credit for direct air capture facilities.
Modifications to requirements for qualifying advanced coal projects, including reduced capacity thresholds.
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Expired
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Additional Information
Print number: 117_S_986
Sponsor: Sen. Smith, Tina [D-MN]
Process start date: 2021-03-25
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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, Utilization, and Storage Tax Credit Amendments Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_986.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-25.

What are the main provisions?

Key points include:

  • Extension of carbon oxide sequestration tax credit until January 1, 2031.
  • Introduction of an elective payment option for carbon oxide sequestration and advanced coal projects.
  • Enhanced tax credit for direct air capture facilities.
  • Modifications to requirements for qualifying advanced coal projects, including reduced capacity thresholds.
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. Smith, Tina [D-MN].

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