Sec. 302. Grant program for coal power plants and affiliated infrastructure
301 words·~1 min read·
/bill/116/s/4306/is/section-302A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 1 year after the date of enactment of this Act, the Secretary of Energy shall make grants to eligible coal power plants to pay the Federal share of the costs of installing carbon capture technology, including the costs of equipment. To be eligible to receive a grant under paragraph (1), a coal power plant— shall be capable of sequestering 500,000 tons of carbon dioxide annually; and shall have not less than 8 years of economic operational life left, as determined by the Director of the Office of Economic Development of the Department of Energy under paragraph (3); or would be required to shut down absent the installation of carbon capture technology.
The Director of the Office of Economic Development of the Department of Energy shall establish metrics to determine how many years of economic life a coal power plant has left under paragraph (2)(B)(i), based on data from— the Energy Information Administration; coal power plants; public utility commissions; and the Federal Energy Regulatory Commission. The Federal share of the costs described in paragraph
(1)shall be 100 percent. The Secretary of Energy, acting through the Executive Director of the Loan Programs Office of the Department of Energy, may provide not more than a total of $15,000,000,000 in loans and loan guarantees to eligible entities for the construction of pipeline infrastructure to transport sequestered carbon dioxide to potential geologic storage resources for carbon dioxide identified in the report prepared by the United States Geological Survey entitled Geologic Framework for the National Assessment of Carbon Dioxide Storage Resources . Nothing in this section limits the eligibility of an entity that receives assistance under this section for any other Federal assistance under any other law. There are authorized to be appropriated such sums as are necessary to carry out this section.