Congress 107 - HR 2323 - National Electricity and Environmental Technology Act

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Topics

Agricultural cooperatives Agriculture and Food Air pollution control Air pollution control equipment Business income tax Carbon dioxide Carbon monoxide Coal Coal research Coal-fired power plants Cogeneration of electric power and heat Commerce Commercialization Congress Congressional reporting requirements Construction costs Cooperative societies Economics and Public Finance Electric power production Electric utilities Electric utility rates Energy Energy efficiency Energy tax credits Environmental Protection Feedstock Government and business Government corporations Government Operations and Politics Governmental investigations Housing and Community Development Income tax Indexing (Economic policy) Insurance Investment tax credit Leases Mercury Nitrogen oxides Recycling of waste products Research and development Risk management Rural electrification Science, Technology, Communications Smog Subsidies Sulphur dioxide Tax refunds Taxation Technological innovations Technology assessment Tennessee Valley Authority Tennessee Valley development Water Resources Development

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Summary

National Electricity and Environmental Technology Act - Directs the Secretary of Energy to: (1) perform an assessment that establishes cost and performance goals with respect to technologies that would permit the continued cost-competitive use of coal for electricity generation, chemical feedstocks, and transportation fuel in 2007, 2015, and 2020; (2) biennially transmit to Congress the results of a study to identify technologies capable of achieving specified cost and performance goals; and (3) implement under specified Federal law a research and development program, including commercial application of coal-based technologies.

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.

Actions

Jul 9, 2001

Referred to the Subcommittee on Energy.
Jun 26, 2001

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.
Jun 26, 2001

Introduced in House

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