North Dakota senators introduce a bill to extend refined coal credits
Sens North Dakota John Hoeven (R) and Kevin Cramer (R) introduced a bill to extend the refined coal tax credit, which encourages power plants to pre-treat or refine coal to improve efficiency and reduce emissions.
“The use of refined coal is a strong example of using technology to improve environmental supervision and still depends on abundant affordable energy sources such as coal,” said Hoeven. “For many facilities that use filtered coal, this tax credit is due to expire soon or will soon expire. Accordingly, our eligibility legislation would extend the existing facilities for the tax credit by 10 years, and create a new three-year window for new facilities to qualify. Doing so will help ensure that our nation continues to benefit from filtered coal technology. ”
Facilities eligible to claim a refined coal tax credit must be in place before 31 December, 2011. The bill would allow these facilities to continue to claim the credit for a further 10 years. In addition, the legislation would enable the new refined coal facilities to qualify for credit by 1 January, 2022.
“The refined coal credit allows our innovators to develop the space and tools they need to develop clean coal,” said Cramer. “27 per cent of the US and 66 per cent of North Dakota's electricity is generated by coal. Without it, we lose the most reliable, low-cost fuel for base load generation. ”