North Dakota: Bill introduced to improve carbon capture tax credit

A new bipartisan bill to improve the 45Q carbon capture utilisation and storage (CCUS) tax credit by increasing the credit value for carbon capture projects and by eliminating the annual carbon capture thresholds is being introduced in North Dakota, US.

Dubbed the Coordinated Action to Capture Harmful (CATCH) Emissions Act, the bill was introduced on Thursday (24^th June) by US Senator Kevin Cramer and Senators Ben Ray Luján and John Barrasso.

“North Dakota is at the forefront of carbon capture and establishing itself as a world leader in the development of clean, reliable energy by applying these technologies to lignite, oil, and ethanol facilities,” said Senator Cramer.

“Our bill would encourage further utilisation of the carbon capture tax credit for projects of all sizes and increase the value of the credit for capture and use, both of which would lead to more investment, more innovation, and a responsibly reduced carbon footprint.”