Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014
Latest action · May 5, 2014 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 5, 2014
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 - Amends the Internal Revenue Code to revise and expand the tax credit program for carbon dioxide sequestration by directing the Secretary of the Treasury to establish: (1) a process for annual competitive bidding for carbon dioxide sequestration credits, (2) a certification process that guarantees the availability of the credit for private sector companies investing in commercial-scale carbon capture projects, (3) criteria for revoking the certification of a project that does not meet specified timelines for beginning construction and operations and that makes materially inaccurate representations in the bidding process, (4) an external review of the annual competitive bidding process by a panel of independent experts to improve such process and ensure its transparency and effectiveness, and (5) a review process for determining the actual and projected increase in federal revenues attributable to the competitive bidding process and credit allocations under this Act.
Cosponsors 1
Members who signed on, in the order they did. All signed on Nov 20, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-ND | Heidi Heitkamp | Nov 20, 2014 |
Actions 2
Everything that happened, newest first.
- May 5, 2014Introduced in Senate
- May 5, 2014Read twice and referred to the Committee on Finance.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 5, 2014Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.