US Congress Senate Bill 2263 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on July 25 2019 - 25% progression, died in committee
Action: 2019-07-25 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Internal Revenue Code to revise requirements for the secure geological storage of carbon oxide. The bill requires the Internal Revenue Service (IRS), in consultation with other federal agencies, including the Environmental Protection Agency (EPA), to prescribe regulations for determining adequate security measures for the geological storage of carbon oxide so that it does not escape into the atmosphere. The IRS regulations must consider the carbon oxide to be disposed of in secure geological storage if it is stored in compliance with specified rules promulgated by the EPA under the Clean Air Act and the Safe Drinking Water Act for the geologic sequestration of carbon oxide. The bill also revises the definition of "qualified enhanced oil or natural gas recovery project" to exclude a requirement for the first injection of liquids, gases, or other matter to commence after December 31, 1990.

CO2 Regulatory Certainty Act

Sen. John Hoeven [R-ND]	Sen. Steve Daines [R-MT]	Sen. Cindy Hyde-Smith [R-MS]	Sen. Roger Wicker [R-MS]
Sen. Kevin Cramer [R-ND]

Date	Chamber	Action
2019-07-25	Senate	Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/2263/all-info
Text	https://www.congress.gov/116/bills/s2263/BILLS-116s2263is.pdf