Sec. 2. Findings
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/bill/117/s/799/is/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Congress finds that— the industrial sector is integral to the economy of the United States— providing millions of jobs and essential products; and demonstrating global leadership in manufacturing and innovation; carbon capture and storage technologies are necessary for reducing hard-to-abate emissions from the industrial sector, which emits nearly 25 percent of carbon dioxide emissions in the United States; carbon removal and storage technologies, including direct air capture, must be deployed at large-scale in the coming decades to remove carbon dioxide directly from the atmosphere; large-scale deployment of carbon capture, removal, utilization, transport, and storage— is critical for achieving mid-century climate goals; and will drive regional economic development, technological innovation, and high-wage employment; carbon capture, removal, and utilization technologies require a backbone system of shared carbon dioxide transport and storage infrastructure to enable large-scale deployment, realize economies of scale, and create an interconnected carbon management market; carbon dioxide transport infrastructure and permanent geological storage are proven and safe technologies with existing Federal and State regulatory frameworks; carbon dioxide transport and storage infrastructure share similar barriers to deployment previously faced by other types of critical national infrastructure, such as high capital costs and chicken-and-egg challenges, that require Federal and State support, in combination with private investment, to be overcome; and each State should take into consideration, with respect to new carbon dioxide transportation infrastructure— qualifying the infrastructure as pollution control devices under applicable laws (including regulations) of the State; and establishing a waiver of ad valorem and property taxes for the infrastructure for a period of not less than 10 years.