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CO2 Regulatory Certainty Act

Read twice and referred to the Committee on Finance.

Official summary

Version 00 · Introduced in Senate · Jul 25, 2019

CO2 Regulatory Certainty Act

This bill 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.

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Who introduced it

Sen. Hoeven, John [R-ND] · R–ND

Committees

  • Finance Committee
4 cosponsorship records, including any withdrawals

Actions

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  1. Read twice and referred to the Committee on Finance.

  2. Introduced in Senate

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.

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