ACCTION Act of 2015

Summary

Advanced Clean Coal Technology Investment in Our Nation Act of 2015 or the ACCTION Act of 2015 This bill amends the Energy Policy Act of 2005 to require the Department of Energy (DOE) to implement a program to demonstrate the integration of systems for the capture, transportation, and injection of carbon dioxide from industrial sources for long-term geological storage or enhanced oil recovery at a commercial scale. The types of activities that must be undertaken under the existing coal and related technologies program are expanded. DOE may carry out a Transformational Coal Technology Program. DOE must establish an advisory committee to report on the carbon capture and sequestration program and the coal and related technologies program. Projects under the Innovative Technology Loan Guarantee Program are eligible to receive other forms of federal assistance. Within two years, DOE has to give final approval to applications for loan guarantees and make loans for advanced fossil energy technology projects under the Program. DOE must take steps to streamline and expedite review of federal authorizations for clean coal generating projects. This bill amends the Internal Revenue Code to: (1) allow accelerated amortization of any mechanical or electronic system which is installed on a coal-fired electric generation unit and which reduces carbon dioxide emissions by specified means; (2) allow a new credit for investment in carbon dioxide capture, transport, and storage property; and (3) create a clean energy coal bond. This bill establishes the Enhanced Recovery Program, a variable price support program, to accelerate the construction and operation of advanced coal-fueled projects that capture carbon dioxide emissions and sell or use the carbon dioxide for enhanced recovery.

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Timeline

1. 26 February 2015

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 26 February 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 February 2015 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 February 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 February 2015

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 February 2015

  Open at official source

Sponsors

• Sen. Heitkamp, Heidi [D-ND] · D · Sponsor
• Timothy Kaine · D · Sponsor
• · ssfi00 · Standing

Related records

• related to ← A bill to establish the Department of Energy as the lead agency for coordinating all requirements under Federal law with respect to eligible clean coal and advanced coal technology generating projects, and for other purposes.