S. 3208, The Carbon Reduction Technology Bridge Act of 2008

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 3208 would amend the Internal Revenue Code of 1986 to provide tax incentives for clean coal technology.

Detailed Summary

Carbon Reduction Technology Bridge Act of 2008 - Amends the Internal Revenue Code to allow: (1) seven-year amortization of mechanical or electronic systems that are installed on a coal-fired electric generation unit after 2007 and that reduce carbon dioxide emissions; (2) a tax credit for the production of electricity using closed-loop biomass co-fired with coal; (3) a tax credit for investment in qualified clean coal electric generation units; (4) a tax credit for investment in carbon dioxide capture, transport, and storage property which is part of a qualified coal-fired electric generation unit; and (5) a tax credit for investment in clean energy coal bonds.

Status of the Legislation

Latest Major Action: 6/26/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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