To authorize Department of Energy programs to develop and implement an accelerated research and development program for advanced clean coal technologies for use in coal-based electricity generating facilities and to amend the Internal Revenue Code of 1986 to provide financial incentives to encourage new construction and the retrofitting, repowering, or replacement of coal-based electricity generating facilities to protect the environment and improve efficiency and encourage the early commerical application of advanced clean coal technologies, so as to allow coal to help meet the growing need to the United States for the generation of reliable and afforable electricity.
Directs the Secretary to establish a clean coal power commercial applications initiative that will demonstrate commercial applications of advanced coal-based technologies applicable to new or existing power plants, including coproduction plants.
Amends the Internal Revenue Code to establish tax credits for: (1) investment in qualifying clean coal technology; (2) production from a qualifying clean coal technology unit; (3) investment in qualifying advanced clean coal technology facilities; and (4) production from qualifying advanced clean coal technology. Mandates creation of a Federal risk pool for qualifying advanced clean coal technology.
Treats such tax credits as refundable overpayments (excessive credits) with respect to specified organizations and governmental units.
Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Energy.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line