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[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2010 Introduced in House (IH)]

<DOC>

115th CONGRESS
  1st Session
                                H. R. 2010

To amend the Internal Revenue Code of 1986 to enhance the requirements 
  for secure geological storage of carbon dioxide for purposes of the 
                  carbon dioxide sequestration credit.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             April 6, 2017

    Mr. Cramer (for himself, Mr. McKinley, and Mr. Duncan of South 
  Carolina) introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL

 
To amend the Internal Revenue Code of 1986 to enhance the requirements 
  for secure geological storage of carbon dioxide for purposes of the 
                  carbon dioxide sequestration credit.

    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 ``CO<INF>2</INF> Regulatory Certainty 
Act''.

SEC. 2. SECURE GEOLOGICAL STORAGE OF CARBON DIOXIDE.

    Paragraph (2) of section 45Q(d) of the Internal Revenue Code of 
1986 is amended to read as follows:
            ``(2) Secure geological storage.--
                    ``(A) In general.--Not later than December 31, 
                2017, the Secretary, in consultation with the 
                Administrator of the Environmental Protection Agency, 
                the Secretary of Energy, and the Secretary of the 
                Interior, shall establish regulations for determining 
                adequate security measures for the geological storage 
                of carbon dioxide under paragraph (1)(B) or (2)(C) of 
                subsection (a) such that the carbon dioxide does not 
                escape into the atmosphere.
                    ``(B) Requirements.--The regulations established 
                pursuant to subparagraph (A) shall provide that--
                            ``(i) for purposes of paragraph (1)(B) of 
                        subsection (a), carbon dioxide shall be 
                        considered disposed of in secure geological 
                        storage if such carbon dioxide is stored in 
                        compliance with rules promulgated by the 
                        Environmental Protection Agency under subpart 
                        RR of part 98 of title 40, Code of Federal 
                        Regulations (as in effect on the date of the 
                        enactment of this paragraph), under the Clean 
                        Air Act (42 U.S.C. 7401 et seq.), and rules 
                        under the Safe Drinking Water Act (42 U.S.C. 
                        300f et seq.), which are applicable to carbon 
                        dioxide disposed of in secure geological 
                        storage and not used as a tertiary injectant in 
                        a qualified enhanced oil or natural gas 
                        recovery project, and
                            ``(ii) for purposes of paragraph (2)(C) of 
                        subsection (a), carbon dioxide shall be 
                        considered disposed of in secure geological 
                        storage if such carbon dioxide is stored in 
                        compliance with rules promulgated by the 
                        Environmental Protection Agency which are 
                        applicable to carbon dioxide used as a tertiary 
                        injectant in a qualified enhanced oil or 
                        natural gas recovery project under--
                                    ``(I) subpart UU of part 98 of 
                                title 40, Code of Federal Regulations 
                                (as in effect on the date of the 
                                enactment of this paragraph), under the 
                                Clean Air Act, and
                                    ``(II) subpart C of part 146 of 
                                title 40, Code of Federal Regulations 
                                (as in effect on the date of the 
                                enactment of this paragraph), under the 
                                Safe Drinking Water Act, to the extent 
                                such rules are applicable to Class II 
                                wells.''.
                                 <all>
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