Carbon Capture and Storage

Provides funds from a ratepayer “Renewable Energy Resources and Coal Technology Development Assistance Charge” for capturing and sequestering CO2 from coal combustion, and supporting research on CCS technology.

Excludes CO2 captured and geologically sequestered for purposes of a ban on constructing power plants that contribute to state carbon dioxide emissions.

Provides a property tax abatement for coal gasification facilities CCS, as well as carbon dioxide sequestration equipment.

Moratorium on new coal-fired power facilities, unless a facility captures and sequesters a minimum 50% CO2 emissions, until such time as uniform federal or state standards for CCS are adopted.

Allows utilities to recover costs incurred for clean energy projects, including coal-based plants using CCS to achieve 1,100 lbs CO2/MWh limit.

Adoption of 25x25 Initiative, which supports use of carbon sequestration as part of the effort to get 25% of American energy from America’s renewable natural resources, while continuing to provide adequate food.

Allows enhanced cost recovery through utility rate adjustments for the construction of “carbon capture compatible, clean-coal powered” power plants.

Required the Governor to develop policy recommendations on methods to meet greenhouse gas reduction goals, including carbon capture and storage.