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Funding Research and Market Creation for Carbon Removal and Storage Technologies (CREST Act)

This Act authorizes funding for research and development of technologies designed to actively remove carbon dioxide from the atmosphere and oceans. It directs public investment toward combating climate change, stimulating innovation, and creating a market for carbon removal. A pilot program for purchasing removed carbon is established to accelerate commercialization and support local and regional economic development.
Key points
The US government will fund research into CO2 removal methods, including biomass, mineralization, ocean-based strategies, and Direct Air Capture (DAC) technology.
A pilot program is launched where the government will purchase removed carbon dioxide via reverse auctions to accelerate commercialization.
New requirements are set for long-term CO2 storage (tiers for 100-1,000 years and 1,000+ years) and for lifecycle assessment of environmental impacts.
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Additional Information
Print number: 118_S_1576
Sponsor: Sen. Collins, Susan M. [R-ME]
Process start date: 2023-05-11
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OFFICIAL LEGAL TITLE

CREST Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1576.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-05-11.

What are the main provisions?

Key points include:

  • The US government will fund research into CO2 removal methods, including biomass, mineralization, ocean-based strategies, and Direct Air Capture (DAC) technology.
  • A pilot program is launched where the government will purchase removed carbon dioxide via reverse auctions to accelerate commercialization.
  • New requirements are set for long-term CO2 storage (tiers for 100-1,000 years and 1,000+ years) and for lifecycle assessment of environmental impacts.
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. Collins, Susan M. [R-ME].

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 2025-12-30.

CATEGORIES

Environment Public Investments Economy