Summary/Abstract
This bill modifies 26 U.S.C. 48A to make CCUS retrofits to coal plants eligible for the qualifying advanced coal project tax credit. The bill also:
- Lowers the threshold from 400 MW to 200 MW.
- Relaxes the efficiency requirements for new and retrofit projects that include carbon capture and sequestration technology.
- Reduces the threshold for capture for existing units to 60%.
- Allows recent best available control technology for sulfur oxides and nitrogen oxides to substitute for requirements articulated in the 2005 legislation.
- Directs the U.S. Secretary of Treasury to conduct additional application rounds and reallocate available credits.