3.0.0 3591 2023-01-11T13:21:44Z 2023-01-11T13:21:44Z Senate S S 2010-07-14 111 ssfi00 Finance Committee Senate Standing Referred to 2010-07-15T00:01:25Z Carbon Capture and Sequestration Deployment Act of 2010 111 3589 S 2010-07-14 Read twice and referred to the Committee on Energy and Natural Resources. Related bill CRS Carbon Capture and Sequestration Deployment Revenue Act of 2010 111 3590 S 2010-07-14 Read twice and referred to the Committee on Finance. Related bill CRS 2010-07-14 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2010-07-14 Introduced in Senate IntroReferral 10000 9 Library of Congress R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV N V000126 Sen. Voinovich, George V. [R-OH] GEORGE VOINOVICH R OH V. 2010-07-14 True B001233 Sen. Bayh, Evan [D-IN] EVAN BAYH D IN 2010-08-05 False Energy Administrative law and regulatory procedures Administrative remedies Advanced technology and technological innovations Advisory bodies Air quality Civil actions and liability Climate change and greenhouse gases Coal Congressional oversight Department of Energy Electric power generation and transmission Endangered and threatened species Energy research Environmental assessment, monitoring, research Environmental technology Executive agency funding and structure Government lending and loan guarantees Government liability Government trust funds Income tax credits Judicial review and appeals Oil and gas Public-private cooperation Research and development Securities Texas Water quality Energy 00 2010-07-14 Introduced in Senate 2010-12-09T19:42:40Z Carbon Capture and Sequestration Deployment Act of 2010 - Requires the Secretary of Energy (DOE) to establish a cooperative industry-government research and development program, in addition to and in cooperation with the Office of Fossil Energy's carbon capture and sequestration research and development program, to demonstrate novel and innovative technologies to: (1) capture or prevent carbon dioxide emissions from carbon-based fuels; (2) enable the beneficial use of carbon dioxide; or (3) enable the long-term storage of carbon dioxide.

Requires DOE to conduct an annual assessment of existing federal programs supporting technology preventing the emission of, capturing, transporting, permanently storing, or sequestering, or putting to beneficial use carbon dioxide.

Amends the Energy Policy Act of 2005 to authorize $20 billion for loan guarantees for: (1) the construction of new commercial scale electric generation units, or industrial facility units, that are eligible units utilizing carbon capture and sequestration technology; (2) the retrofit of eligible units providing for carbon capture and sequestration; and (3) the construction of pipelines to transport carbon dioxide to sequestration sites or to sites where such carbon dioxide will be used for hydrocarbon recovery.

Amends the Internal Revenue Code to: (1) expand the tax credit for carbon dioxide sequestration to include carbon dioxide that is disposed of in secure geologic storage or converted to a stable form to enable permanent sequestration; (2) allow a 30% increase in the qualifying advanced coal project tax credit for the incremental cost for carbon capture and sequestration systems; (3) allow an increase in the carbon dioxide sequestration tax credit for the use of new or retrofit electric utility or industrial units to provide for carbon capture and sequestration in secure geologic storage; and (4) allow issuers of qualified carbon sequestration bonds income and excise tax credits for payments of interest with respect to such bonds. Directs the Secretary to establish a program for the certification of new or retrofit electric or industrial units utilizing carbon capture and sequestration technology eligible to apply for the carbon dioxide sequestration credit.

Carbon Capture and Sequestration Early and Effective Deployment Fund Act of 2010 or the CC SEED FUND ACT - Requires the Secretary to establish: (1) a special funding program to support projects to accelerate the commercial availability of carbon capture and sequestration technologies; and (2) a Carbon Capture and Sequestration Program Partnership Council to advise the Secretary on such program.

Requires the Secretary to (1) collect an assessment on electric utilities for all fossil fuel-based electricity sold that reflects the relative carbon dioxide emission rates of different fossil fuel-based electricity; and (2) promulgate regulations to determine the level and type of fossil fuel-based electricity delivered by each electric utility. Sets forth provisions concerning the recovery of costs associated with complying with such requirements.

Amends the Clean Air Act to require a covered unit (an electric utility generating unit that derives 50% of its annual heat input from coal, petroleum coke, or any combination of such fuels) the owner or operator of which has received a preconstruction approval or permit under such Act on or after this Act's enactment and before January 1, 2020, to achieve by a specified compliance date an emission limit for carbon dioxide that reflects a 50% reduction from the carbon content of the fuel used by the unit.

Requires DOE to act as the lead agency for coordinating federal authorizations and related environmental reviews with respect to a project that is eligible to receive a financial incentive under this Act.

Carbon Storage Stewardship Act - Sets forth provisions concerning the responsibility for monitoring and remediating certified post-closure storage facilities that provide long-term geologic storage and sequestration of carbon dioxide. Established the Carbon Storage Stewardship Trust Fund in the Treasury for the National Carbon Storage Stewardship Program that reimburses agencies and makes payments for costs with respect to such facilities. Establishes the Carbon Storage Stewardship Board as an independent agency to advance the widespread deployment of carbon capture and storage technologies by providing for the long-term stewardship of closed storage sites and to administer such Program. Establishes within DOE an Office of Public Claims to adjudicate claims filed with the Board related to carbon dioxide injected at facilities. Requires the Secretary to competitively select 10 carbon capture and geological sequestration projects as first mover projects that shall be indemnified from liabilities arising from the injection of carbon dioxide into storage facilities.

]]> Carbon Capture and Sequestration Deployment Act of 2010 Display Title Carbon Capture and Sequestration Deployment Act of 2010 Official Title as Introduced A bill to provide financial incentives and a regulatory framework to facilitate the development and early deployment of carbon capture and sequestration technologies, and for other purposes. Introduced in Senate IS Short Titles as Introduced Carbon Capture and Sequestration Deployment Act of 2010 Short Titles as Introduced for portions of this bill Carbon Storage Stewardship Act Short Titles as Introduced for portions of this bill CC SEED FUND ACT Short Titles as Introduced for portions of this bill Carbon Capture and Sequestration Early and Effective Deployment Fund Act of 2010 Introduced in Senate 2010-07-14T04:00:00Z 2010-07-14 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.