SF0017SS001

Adopted

Amendment to SF0017 — Carbon dioxide-enhanced oil recovery stimulus.

Sponsor:

Chamber: Senate

Stage: Standing Committee

What does this amendment do?

This amendment adds a condition limiting stimulus availability when federal tax credits for enhanced oil recovery equal or exceed those for secure geological storage, and makes this condition a subsection reference in the eligibility requirements.

Adds a reference to subsection (c) as a condition for stimulus eligibility beginning January 1, 2023, requiring compliance with a new limitation on stimulus availability. (Page 5, line 3)
Inserts a new limitation stating that the stimulus shall not be available during any period when the federal tax credit available under 26 U.S.C. 45Q for qualified enhanced oil or natural gas recovery projects equals or exceeds the credit available for secure geological storage not used for enhanced oil or natural gas recovery. (Page 6, line 9)

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Roll Call Votes (0)

Standing committee amendments are adopted as part of the committee's overall recommendation vote on the bill, not as a separate roll call. No matching committee vote was found. See all votes on the bill detail page.