3.0.0 1842 2026-07-15T18:16:58Z 2026-07-15T18:16:58Z Senate S S 2025-05-21 119 https://www.congress.gov/bill/119th-congress/senate-bill/1842 ssfi00 Finance Committee Senate Standing Referred To 2025-05-21T20:20:55Z 2025-05-21 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2025-05-21 Introduced in Senate IntroReferral 10000 9 Library of Congress W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI N S001150 Sen. Schiff, Adam B. [D-CA] Adam Schiff D CA B. 2025-05-21 True Taxation Taxation 2025-06-23T18:28:49Z 00 2025-05-21 Introduced in Senate 2026-07-15T18:13:55Z Wildfire Reduction and Carbon Removal Act of 2025

This bill establishes a new federal business tax credit for forest residue biomass carbon removal and storage.

Specifically, the bill allows a tax credit for qualified carbon dioxide equivalent that is (1) captured from qualified forest residue biomass using biomass equipment placed in service at a qualified forest residue biomass carbon removal and storage project on or after the date the bill is enacted, and (2) stored in secure geological storage or via long-duration utilization. 

Qualified forest residue biomass is forest residue from the thinning of certain trees, limbs, and bark and produced from certain wildfire hazard reduction or ecological restoration activities. Sustainability standards apply.

The tax credit amount is (1) $36 (adjusted for inflation) per metric ton of qualified carbon dioxide equivalent stored in secure geological storage, and (2) $12 (adjusted for inflation) per metric ton of qualified carbon dioxide equivalent stored via long-duration utilization. The tax credit is increased if certain wage and apprenticeship requirements are met.

The bill limits the tax credit for existing removal and storage projects to the qualified captured carbon dioxide that generally is attributable to additional biomass equipment placed into service after the bill is enacted.

The tax credit may be transferred to an unrelated third party, and certain tax-exempt and government entities may receive the tax credit as a payment.

Finally, the bill requires the Internal Revenue Service to establish sustainability standards for the identification of qualified forest residue biomass and issue other regulations.

]]> Wildfire Reduction and Carbon Removal Act of 2025 Display Title 45 Wildfire Reduction and Carbon Removal Act of 2025 2025-06-05T07:53:17Z Short Title(s) as Introduced 101 Wildfire Reduction and Carbon Removal Act of 2025 2025-06-05T07:53:15Z Introduced in Senate IS Official Title as Introduced 6 A bill to amend the Internal Revenue Code of 1986 to create a credit for carbon removal and storage for forest residues from wildfire management. 2025-06-05T07:48:17Z Introduced in Senate IS Introduced in Senate 2025-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119s1842is/xml/BILLS-119s1842is.xml 2025-05-21 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.