Bill Text: IL SR2462 | 2015-2016 | 99th General Assembly | Introduced
Bill Title: Calls upon the United States Congress to pass, and the President to sign into law, legislation to extend and expand the current federal tax credit for carbon capture, utilization, and storage under Section 45Q of the Internal Revenue Code.
Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: (Introduced - Dead) 2016-11-30 - Added as Chief Co-Sponsor Sen. Wm. Sam McCann [SR2462 Detail]
Download: Illinois-2015-SR2462-Introduced.html
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1 | SENATE RESOLUTION
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2 | WHEREAS, According to the United States Department of | ||||||
3 | Energy:
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4 | (1) "Carbon capture, utilization, and storage (CCUS) | ||||||
5 | technologies provide a key pathway to address the urgent | ||||||
6 | U.S. and global need for affordable, secure, resilient, and | ||||||
7 | reliable sources of clean energy";
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8 | (2) "There is international consensus that CCUS will play a | ||||||
9 | critical role as part of an economically sustainable route | ||||||
10 | to the emissions cuts needed to limit global warming to | ||||||
11 | 2°C";
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12 | (3) "In addition to the critical role that CCUS plays in | ||||||
13 | decarbonizing the electric power sector, deep | ||||||
14 | decarbonization of key sources in the industrial sector | ||||||
15 | will not be possible without CCUS";
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16 | (4) "CCUS technology is necessary to meet climate change | ||||||
17 | mitigation goals at the lowest possible cost to society";
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18 | (5) "A combination of tax incentives, and research and | ||||||
19 | development, demonstration, and deployment (RDD&D) will be | ||||||
20 | critical in developing transformational carbon capture |
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1 | technologies and to drive down the cost of capture"; and
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2 | (6) "As the world now works towards the ... goal agreed | ||||||
3 | upon at the 21st UNFCCC [United Nations Framework | ||||||
4 | Convention on Climate Change] Conference of the Parties in | ||||||
5 | Paris in December of 2015, CCUS in the industrial and power | ||||||
6 | sectors will become increasingly important"; and
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7 | WHEREAS, According to the Intergovernmental Panel on | ||||||
8 | Climate Change (IPCC):
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9 | (1) Absent the broad deployment of carbon capture and | ||||||
10 | storage (CCS), fewer than half of the IPCC's climate models | ||||||
11 | can achieve climate "stabilization" - an atmospheric | ||||||
12 | concentration of greenhouse gases of 450 parts-per-million - | ||||||
13 | by the year 2100; and
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14 | (2) Of the fewer-than-half models able to achieve a level | ||||||
15 | of 450 parts-per-million, the cost of achieving such a goal | ||||||
16 | without CCS is 138% higher - more than double; and
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17 | WHEREAS, According to the 17-member Major Economies Forum | ||||||
18 | on Energy and Climate, "While increased use of renewable | ||||||
19 | energy, greater energy efficiency, and nuclear power all have | ||||||
20 | important roles to play in the mitigation of greenhouse gases, | ||||||
21 | carbon capture and storage (CCS) is the only viable option for |
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1 | addressing emissions from facilities that continue to burn | ||||||
2 | fossil fuels. With the potential to reduce CO2 emissions from | ||||||
3 | fossil fuels by up to 90%, CCS is a critical technology for | ||||||
4 | reducing emissions to target levels in the required time | ||||||
5 | frame"; and
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6 | WHEREAS, According to the International Energy Agency | ||||||
7 | (IEA), "Carbon capture and storage (CCS) is projected to play a | ||||||
8 | crucial role in a carbon-constrained world, as it is currently | ||||||
9 | the only technology able to significantly reduce emissions from | ||||||
10 | the use of fossil fuels"; and
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11 | WHEREAS, According to the United Nations Climate Change | ||||||
12 | Secretariat, "Alongside energy efficiency, renewable energy | ||||||
13 | and other non-fossil fuel sources, carbon dioxide capture, use | ||||||
14 | and storage (CCUS) is another element of the transition to a | ||||||
15 | low emissions future. Not only does CCUS offer the potential to | ||||||
16 | capture emissions from the power sector but it could play a | ||||||
17 | wider role in reducing the GHG emissions from industries with | ||||||
18 | significant process emissions, such as chemicals, cement and | ||||||
19 | steel production, and agricultural processing. In addition, | ||||||
20 | CCUS can assist countries that currently heavily rely on fossil | ||||||
21 | fuels to make the transition to low-emission fuel sources while | ||||||
22 | limiting the disruption to the local economy and employment"; | ||||||
23 | and
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1 | WHEREAS, The United States has abundant supplies of coal | ||||||
2 | that provide important economic and energy security benefits to | ||||||
3 | our nation; and
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4 | WHEREAS, Reliable and affordable electricity is vital to | ||||||
5 | the economic growth of Illinois, jobs, and the overall welfare | ||||||
6 | of its citizens; and
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7 | WHEREAS, Illinois has the largest recoverable bituminous | ||||||
8 | coal reserves in the United States, sufficient to meet all of | ||||||
9 | America's electricity needs for 50 years; and
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10 | WHEREAS, The Illinois coal industry generates over $2.5 | ||||||
11 | billion in annual economic activity within the State, employing | ||||||
12 | approximately 5,000 miners with an average annual salary of | ||||||
13 | $85,000, higher than both the United States and Illinois median | ||||||
14 | household incomes; and
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15 | WHEREAS, The State of Illinois has long been committed to | ||||||
16 | and is a leader in the research and development of technologies | ||||||
17 | that provide clean and safe power generation; and
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18 | WHEREAS, A central element of a clean energy strategy for | ||||||
19 | Illinois is continued research and development of carbon | ||||||
20 | reduction strategies, such as carbon dioxide (CO2) capture, | ||||||
21 | utilization, and storage through emerging technologies such as |
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1 | geological sequestration, mineral carbonation, and the | ||||||
2 | beneficial use of captured CO2, in order to maximize | ||||||
3 | environmental benefits and economic opportunities; and
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4 | WHEREAS, Illinois institutions such as the Prairie | ||||||
5 | Research Institute at the University of Illinois, Southern | ||||||
6 | Illinois University, Illinois Eastern Community Colleges, | ||||||
7 | Richland Community College, and others strive to address | ||||||
8 | climate, health, education, and economic impacts, through | ||||||
9 | collaborations on applied CO2 research, practical | ||||||
10 | applications, workforce development and public education; and
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11 | WHEREAS, Legislation pending in both the U.S. House of | ||||||
12 | Representatives and U.S. Senate would enhance current federal | ||||||
13 | tax incentives so as to sustain and promote such collaborations | ||||||
14 | and encourage private industry in manufacturing, energy | ||||||
15 | generation, and food production, to implement and support new | ||||||
16 | technologies that increase CO2 capture, utilization, and | ||||||
17 | storage; therefore, be it
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18 | RESOLVED, BY THE SENATE OF THE NINETY-NINTH GENERAL | ||||||
19 | ASSEMBLY OF THE STATE OF ILLINOIS, that we call upon the United | ||||||
20 | States Congress to pass, and the President to sign into law, | ||||||
21 | legislation to extend and expand the current federal tax credit | ||||||
22 | for carbon capture, utilization, and storage under Section 45Q | ||||||
23 | of the Internal Revenue Code; and be it further
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1 | RESOLVED, That suitable copies of this resolution be | ||||||
2 | delivered to the President of the United States, the Speaker of | ||||||
3 | the United States House of Representatives, the United States | ||||||
4 | Senate Majority Leader, and all members of the Illinois | ||||||
5 | Congressional Delegation.
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