[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2776 Introduced in Senate (IS)]

113th CONGRESS
  2d Session
                                S. 2776

To establish a Carbon Capture and Sequestration Deployment Acceleration 
Fund to promote the establishment of not fewer than 10 commercial-scale 
carbon capture and sequestration units in the United States during the 
                 next 10 years, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             August 1, 2014

   Mr. Walsh introduced the following bill; which was read twice and 
       referred to the Committee on Energy and Natural Resources

_______________________________________________________________________

                                 A BILL


 
To establish a Carbon Capture and Sequestration Deployment Acceleration 
Fund to promote the establishment of not fewer than 10 commercial-scale 
carbon capture and sequestration units in the United States during the 
                 next 10 years, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Ten in Ten Act''.

SEC. 2. CARBON CAPTURE AND SEQUESTRATION DEPLOYMENT ACCELERATION FUND.

    (a) Establishment of Fund.--There is established in the Treasury a 
fund to be known as the ``Carbon Capture and Sequestration Deployment 
Acceleration Fund'' (referred to in this section as the ``Fund''), to 
be administered by the Secretary of Energy (referred to in this section 
as the ``Secretary''), to be available without fiscal year limitation 
and without further appropriation, to promote the establishment of not 
fewer than 10 commercial-scale carbon capture and sequestration units 
in the United States during the 10-year period beginning on the date of 
enactment of this section.
    (b) Use of Fund.--
            (1) In general.--Of amounts in the Fund, the Secretary may 
        use such sums as are necessary to provide grants or other forms 
        of financial support that--
                    (A) capture carbon dioxide from electric generation 
                units that--
                            (i) generate and sell electric power 
                        directly to consumers or for resale;
                            (ii) use coal or petroleum coke for at 
                        least 75 percent of the fuel used by the units; 
                        and
                            (iii) transport the captured carbon dioxide 
                        to a permanent geological storage site in the 
                        United States, or to a site on the North 
                        American Continent, for use for hydrocarbon 
                        recovery;
                    (B) have a useful life of not fewer than 15 years;
                    (C) emphasize modular designs and are capable of 
                generating at least 100 megawatts of electricity 
                output;
                    (D) capture and sequester not less than 65 percent 
                of the total carbon dioxide emissions of the electric 
                generation units; and
                    (E) apply to a diverse mix of coal ranks, 
                generation systems, geographic locations, capture 
                systems, and sequestration characterizations and 
                systems, including saline sequestration, enhanced oil 
                recovery, and other beneficial uses of carbon dioxide.
            (2) Eligible projects.--Eligible projects under this 
        paragraph include carbon capture and sequestration units that 
        are designed for--
                    (A) new coal-fired electric generation units;
                    (B) retrofit or upgrade of existing coal-fired 
                electric generation units; and
                    (C) notwithstanding paragraph (1)(C), nonmodular 
                units that are larger than 250 megawatts and designed 
                for integrated gasification combined cycle electric 
                generation units.
    (c) Transfers to Fund.--There is transferred into the Fund 
established by subsection (a) $10,000,000,000 out of any funds in the 
Treasury not otherwise appropriated.
    (d) Prohibition.--Amounts in the Fund may not be made available for 
any purpose other than a purpose described in subsections (a) and (b).
    (e) Annual Reports.--
            (1) In general.--Not later than 60 days after the end of 
        each fiscal year beginning with fiscal year 2015, the Secretary 
        shall submit a report on the operation of the Fund during the 
        fiscal year to--
                    (A) the Committee on Appropriations of the Senate;
                    (B) the Committee on Appropriations of the House of 
                Representatives;
                    (C) the Committee on Energy and Natural Resources 
                of the Senate; and
                    (D) the Committee on Energy and Commerce of the 
                House of Representatives.
            (2) Contents.--Each report shall include, for the fiscal 
        year covered by the report, the following:
                    (A) A statement of the amounts deposited into the 
                Fund.
                    (B) A description of the expenditures made from the 
                Fund for the fiscal year, including the purpose of the 
                expenditures.
                    (C) Recommendations for additional authorities to 
                fulfill the purpose of the Fund.
                    (D) A statement of the balance remaining in the 
                Fund at the end of the fiscal year.
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