Carbon Resource Innovation Act

This bill would change the federal tax credit for capturing and storing carbon (Section 45Q of the tax code) so that it also covers facilities that capture carbon in solid or liquid form. To qualify, such a facility would need to capture at least 1,000 metric tons of qualified carbon oxide during the tax year. The captured carbon would be measured where it is captured and verified where it is disposed of, injected, or used. For these facilities, secure storage could include underground storage chambers that keep the carbon from escaping into the atmosphere. The changes would apply to carbon captured after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Tim Sheehy Republican sponsor
• 3 cosponsors