Title: Advancing Carbon Capture in Energy Generation Act
Policy area: Taxation

Summary:
Advancing Carbon Capture in Energy Generation Act
This bill amends the Internal Revenue Code, with respect to the tax credit for advanced coal projects, to: (1) lower the carbon dioxide sequestration requirement to 60% for certain electrical generating units in existence on October 3, 2008, and (2) revise certain technology and environmental performance requirements.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 3566 Introduced in Senate (IS)]

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115th CONGRESS
  2d Session
                                S. 3566

  To amend the Internal Revenue Code of 1986 to modify the qualifying 
                     advanced coal project credit.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 10, 2018

 Ms. Heitkamp (for herself, Ms. Smith, and Mr. Manchin) introduced the 
 following bill; which was read twice and referred to the Committee on 
                                Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to modify the qualifying 
                     advanced coal project 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 ``Advancing Carbon Capture in Energy 
Generation Act''.

SEC. 2. MODIFICATIONS OF QUALIFYING ADVANCED COAL PROJECT CREDIT.

    (a) Sequestration Requirement for Certain Equipment.--Section 
48A(e)(1)(G) of the Internal Revenue Code of 1986 is amended by 
striking ``(70 percent in the case of an application for reallocated 
credits under subsection (d)(4))'' and inserting ``(60 percent in the 
case of an application with respect to reallocated credits under 
subsection (d)(4) for an electrical generating unit in existence on 
October 3, 2008, and 70 percent in the case of any other application 
for reallocated credits under such subsection)''.
    (b) Advanced Coal-Based Generation Technology Requirements.--
            (1) In general.--Section 48A(f) of such Code is amended--
                    (A) by striking ``Generation Technology.--'' and 
                all that follows through ``For the purpose of this 
                section'' and inserting the following ``Generation 
                Technology.--For the purpose of this section'', and
                    (B) by striking ``generation technology if--'' and 
                all that follows through ``the unit is designed'' and 
                inserting the following: ``generation technology if the 
                unit is designed''.
            (2) Conforming amendments.--Section 48A(f) of such Code, as 
        amended by paragraph (1), is amended--
                    (A) by striking paragraphs (2) and (3), and
                    (B) by striking ``in subparagraph (B)'' in the 
                second sentence and inserting ``in this subsection''.
    (c) Performance Requirements in Case of Best Available Control 
Technology.--Section 48A(f) of such Code, as amended by subsection (b), 
is amended by adding at the end the following: ``In the case of a unit 
which has undergone a best available control technology analysis after 
August 8, 2005, with respect to the removal or emissions of any 
pollutant specified in the table contained in this subsection, the 
removal or emissions design level with respect to such pollutant shall 
be the level determined in such analysis.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to allocations and reallocations after the date of the enactment 
of this Act.
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