3.0.0 3581 2022-02-03T05:54:25Z 2022-02-03T05:54:25Z Senate S S 2012-09-20 112 ssfi00 Finance Committee Senate Standing Referred to 2012-09-20T17:33:33Z 2012-09-20 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2012-09-20 Introduced in Senate IntroReferral 10000 9 Library of Congress C000705 Sen. Conrad, Kent [D-ND] KENT CONRAD D ND N E000285 Sen. Enzi, Michael B. [R-WY] MICHAEL ENZI R WY B. 2012-09-20 True R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV 2012-09-20 True Taxation Administrative law and regulatory procedures Air quality Climate change and greenhouse gases Department of the Treasury Income tax credits Taxation

00 2012-09-20 Introduced in Senate 2012-11-30T16:05:52Z Amends the Internal Revenue Code, with respect to the tax credit for carbon dioxide sequestration, to: (1) establish a national limitation for such credit based upon metric tons of qualified carbon dioxide (defined as carbon dioxide captured from an industrial source that would otherwise be released into the atmosphere as industrial emission of greenhouse gas and that is measured at the source of capture and verified at the point of disposal or injection); (2) direct the Secretary of the Treasury to establish processes and procedures for allocating the national limitation and for certifying projects for which an allocation has been made; (3) impose a 10-year limitation period for such credit; (4) identify the primary taxpayer eligible to claim such credit as the taxpayer who captures the qualified carbon dioxide and disposes, through contract or otherwise, of the qualified carbon dioxide in a specified manner; and (5) provide for the transferability of such credit.

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Display Title Official Title as Introduced Introduced in Senate 2012-09-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3581is/xml/BILLS-112s3581is.xml 2012-09-20 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.