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S.2288: Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about taxation
You can read the bill
Sponsor John D. Rockefeller IV, D-W.Va.
Total Cosponsors 1 (All Democrats)
Introduced May 5, 2014
Latest Major Action May 5, 2014
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill 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 ...

(Source: Congressional Research Service)

Bill Actions

Date Description
May 5, 2014 Read twice and referred to the Committee on Finance.