The House Ways and Means committee draft of the infrastructure bill is out, and it contains a number of provisions at the intersection of tax and technology. This should provide a boost to carbon sequestration development. The eligible components were not installed in the Which would otherwise be released into the atmosphereĮach year as industrial emission of greenhouse gas if ``(II) the total metric tons of carbon dioxide ``(bb) an enhanced oil or gas recovery well ![]() ``(aa) a facility for geologic storage, or ``(I) the total metric tons of carbon dioxideĭesigned to be annually captured, transported, and ``(i) In general.-Subject to clause (ii), the captureĪnd storage percentage shall be an amount, expressed as a The general rule requires such a facility or component to have at least a 65% capture and storage percentage, but permits for an alternative calculation: ![]() ![]() The bill allows for financing facilities and eligible components of facilities that are used for the purpose of capture, treatment and purification, compression, transportation, or on-site storage of carbon dioxide. The infrastructure bill that made it to the President’s desk earlier in the week contained a provision allowing for a new type of tax exempt private activity bond (Section 142(a)) for carbon dioxide capture facilities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |