,i #aag? ,,congress #a/ ,session ,h4 ,r4 #dhia ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #cj1 #bjba ,mr4 ,mc,kinley introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,en]gy & ,comm]ce1 & 9 addition to ! ,committee on ,sci5ce1 ,space1 & ,te*nology1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to require ! ,secret>y ( ,en]gy to e/abli% a net-negative c>bon dioxide baseload p[] developm5t & comm]cialization program1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,net-,negative ,c>bon ,dioxide ,baseload ,p[] ,act4 #b4 ,f9d+s ,congress f9ds ! foll[+3 7#a7 ,electricity1 l air1 food1 & wat]1 is "o ( life's necessities4 7#b7 ,! ,dep>tm5t ( ,en]gy prop]ly conclud$ 9 its ,janu>y #bjag report to ,congress1 titl$ ,valuation ( ,en]gy ,security = ! ,unit$ ,/ates1 ! foll[+3 7,a7 ,electricity is ess5tial = support+ & su/a9+ ne>ly e sector ( ! mod]n economy rang+ f indu/rial output & s]vices to national security44 7,b7 ,a secure1 reliable electric p[] sector is necess>y = economic gr[?1 public safety1 societal well-be+ & prop] function+ ( critical infra/ructure1 national security def5se1 lifel9e networks1 transportation communications1 wat] & sew]44 7,c7 ,)\t access to reliable electricity mu* ( ! economy & all electricity-enabl$ critical infra/ructure are at risk44 7#c7 ,! s]vice & reliability ( ! electric grid ( ! ,unit$ ,/ates dep5ds significantly on baseload coal-fuel$ p[] plants4 7#d7 ,communities across ! ,nation are dep5d5t ^u1 = electricity supply & _! economic well-be+1 coal-fuel$ p[] plants & a heal?y coal supply *a9 indu/ry4 7#e7 ,p[] plants1 co-fuel$ by coal & biomass1 t incorporate c>bon capture1 utilization1 & /orage1 h net-negative c>bon dioxide emissions4 7#f7 ,baseload p[] plants1 co-fuel$ by coal & biomass1 t incorporate c>bon capture c provide a /eady supply ( c>bon dioxide = ! manufacture ( c>bon-bas$ *emicals1 c>bon-bas$ build+ mat]ials1 & o!r value-add$ products :i* c use c>bon dioxide4 7#g7 ,! ,f$]al ,gov]nm5t is likely to adopt climate *ange policies t abruptly drive r$uction 9 gre5h\se gas emissions4 ,z a result1 ! ,f$]al ,gov]nm5t %\ld also inc5tivize ! comm]cialization ( net-negative c>bon dioxide p[] plant te*nology to a*ieve emissions r$uction t>gets1 improve ! reliability ( ! ,unit$ ,/ates electricity grid1 & protect coal communities f deva/at+ economic loss4 7#h7 ,! ,unit$ ,/ates %\ld lead ! _w 9 develop+ #ba/ c5tury net-negative baseload p[] te*nologies t w all[ develop+ c\ntries to cont9ue to use _! dome/ic en]gy res\rces1 meet climate goals1 & provide a /eady s\rce ( c>bon dioxide = c>bon-bas$ products t contribute to economic gr[? & social developm5t4 #c4 ,e/abli%m5t ( a net-negative c>bon dioxide baseload developm5t & comm]cialization p[] program 7a7 ,9 g5]al ,! ,en]gy ,policy ,act ( #bjje 7#db ,u4,s4,c4 #afbia et seq47 is am5d$ by add+ at ! end ( subtitle ,f ( title ,,ix1 ! foll[+3 #igj4 ,net-negative c>bon dioxide baseload p[] developm5t & comm]cialization program 7a7 ,def9itions 7#a7 ,con/ruction phase ,! t]m con/ruction phase means1 ) respect to an eligible project1 ! p]iod betwe5 a project's f9al inve/m5t decision & comm5cem5t ( comm]cial op]ations4 7#b7 ,eligible project ,! t]m eligible project means a project to design1 develop1 con/ruct1 & op]ate a combu/ion- or gasification-bas$ baseload electricity g5]at+ project1 :i* meets ! crit]ia publi%$ "u subsection 7c7 &1 :5 op]at+1 has net-negative c>bon dioxide emissions4 7#c7 ,f9al inve/m5t decision ,! t]m f9al inve/m5t decision means1 ) respect to an eligible project1 ! "t 9 ! project plann+ process :5 ! decision to make major f9ancial commitm5ts is tak54 7#d7 ,fuel supply *a9 ,! t]m fuel supply *a9 means1 ) respect to an eligible project1 ! pr9cipal indu/rial activities associat$ ) ! production1 process+1 /orage1 & transportation ( fuel to ! eligible project4 7#e7 ,net-negative c>bon dioxide emissions ,! t]m net-negative c>bon dioxide emissions means t ! annual am\nt ( c>bon dioxide emitt$ by an eligible project1 includ+ ! project's fuel supply *a91 conv]sion ( fuel to electricity & co-products1 c>bon capture & /orage1 & o!r directly associat$ onsite activities1 less ! am\nt ( c>bon dioxide p]man5tly /or$ by ! project includ+ ! project's fuel supply *a91 conv]sion ( fuel to electricity & co-products1 c>bon capture & /orage1 & o!r directly associat$ onsite activities1 is a negative am\nt4 7#f7 ,non-r\t9e ev5t ,! t]m non-r\t9e ev5t means1 ) respect to a coal-fuel$ p[] plant1 an ev5t1 typically n plann$1 t int]rupts r\t9e op]ation1 includ+ equipm5t failure1 fuel supply *a9 disruption1 & pipel9e int]ruption4 7#g7 ,op]ations phase ,! t]m op]ations phase means1 ) respect to an eligible project1 ! p]iod betwe5 comm5cem5t ( comm]cial op]ations & p]man5t cessation ( comm]cial op]ations4 7#h7 ,project concept /udy phase ,! t]m project concept /udy phase means1 ) respect to an eligible project1 a /udy conduct$ prior to ! project developm5t phase1 to develop-- 7,a7 ! basic project concept2 7,b7 high-level project economics2 7,c7 a description ( ! te*nology or te*nologies t w be us$ = ! eligible project2 7,d7 a compilation ( ! requir$ p]mits & plan = secur+ !m2 7,e7 project p>tn]s2 & 7,f7 project plans1 includ+ s*$ules4 7#i7 ,project developm5t phase ,! t]m project developm5t phase means1 ) respect to an eligible project1 ! p]iod betwe5 completion ( ! project concept /udy & ! f9al inve/m5t decision4 ,! project developm5t phase includes1 ) respect to an eligible project-- 7,a7 eng9e]+ design "w2 7,b7 legal "w2 7,c7 supplem5tal surface & subsurface rights acquisition2 7,d7 site-specific geologic *>act]ization "w2 7,e7 p]mitt+2 7,f7 /akehold] engagem5t2 & 7,g7 o!r activities necess>y to support a successful f9al inve/m5t decision on ! eligible project4 7#aj7 ,r\t9e op]ation ,! t]m r\t9e op]ation means1 ) respect to a coal-fuel$ p[] plant1 typically expect$ op]ation ( su* coal-fuel$ p[] plant1 includ+ />t-ups1 regul> op]ations1 plann$ %utd[ns1 & ma9t5ance4 7b7 ,e/abli%m5t 7#a7 ,9 g5]al ,! ,secret>y %all e/abli% a net-negative c>bon dioxide baseload p[] developm5t & comm]cialization program to-- 7,a7 facilitate ! r$evelopm5t ( exi/+ coal-fuel$ p[] plant sites ) te*nology t enables baseload coal- & biomass-fuel$ p[] g5]ation t has net-negative c>bon dioxide emissions2 & 7,b7 less5 ! negative economic impact f climate *ange policies on communities dep5d5t ^u coal-fuel$ p[] plants4 7#b7 ,eligible projects ,9 c>ry+ out ! program e/abli%$ "u p>agraph 7#a71 ! ,secret>y %all e/abli% a competitive1 m]it-review$ process1 ) multiple clos+ dates = applications t are n m ?an qu>t]ly & n less ?an semiannually1 to provide f9ancial assi/ance to projects t w r$evelop exi/+ coal-fuel$ p[] plant sites to supply net-negative baseload p[]4 7c7 ,crit]ia ,! ,secret>y %all publi% crit]ia 9 ! ,f$]al ,regi/] = eligible projects1 includ+ t-- 7#a7 eligible projects %all-- 7,a7 involve r$evelopm5t ( exi/+ coal-fuel$ p[] plants at ! same g5]al site2 7,b7 incorporate c>bon capture1 utilization1 & /orage te*nology2 7,c7 provide baseload p[] g5]ation2 7,d7 use at lea/ #gj p]c5t coal1 bas$ on en]gy cont5t1 z fuel dur+ ! op]ations phase2 & 7,e7 include mean+ful p>ticipation by ! own] ( ! exi/+ coal-fuel$ p[] plant asset to be r$evelop$ at ! initiation ( ! concept /udy phase2 7#b7 eligible projects may-- 7,a7 on an annual basis1 use up to #cj p]c5t biomass or o!r non-coal fuels comb9$1 bas$ on en]gy cont5t2 7,b7 buy v]ifiable c>bon dioxide (fsets to (fset c>bon dioxide emissions f non-r\t9e ev5ts2 7,c7 p]man5tly /ore c>bon dioxide onsite or (fsite2 7,d7 transport captur$ c>bon dioxide via an onsite or (fsite d$icate pipel9e1 or %>$ pipel9e1 to p]man5t /orage2 7,e7 co-produce c>bon-free fuel1 includ+ hydrog5 or ammonia1 t is us$ z fuel onsite or (fsite2 & 7,f7 incorporate direct air capture te*nology1 provid$ t ! captur$ c>bon dioxide is comb9$ ) ! prim>y /ream ( c>bon dioxide captur$ at ! plant2 & 7#c7 eligible projects may n buy c>bon dioxide (fsets = c>bon dioxide emissions f r\t9e op]ations1 o!r ?an (fsets directly ga9$ ?r\gh ! project's fuel supply *a94 7d7 ,program implem5tation ,9 implem5t+ ! program e/abli%$ "u subsection 7b71 ! ,secret>y %all-- 7#a7 make grants = project concept /udies2 7#b7 provide an opportunity = p]sons :o h successfully complet$ a project concept /udy us+ a grant provid$ pursuant to p>agraph 7#a7 to ent] into coop]ative agreem5ts = cont9u+ ,f$]al f9ancial assi/ance = ! subsequ5t phases ( an eligible project2 7#c7 /ructure ! program to all[ grant recipi5ts = eligible projects to move )\t "t lags betwe5 ! project concept /udy phase & project developm5t phase2 7#d7 recognize eligible projects z projects meet+ ! requirem5ts ( section #agjc7;a77#a72 7#e7 dur+ ! project developm5t phase1 bas$ on satisfactory progress t[>ds a f9al inve/m5t decision & f9ancial ne$1 make "o or m conditional commitm5ts to "o or m inc5tives t w increase ! likelihood ( comm]cial f9anc+1 con/ruction1 & successful op]ation ( ! eligible project1 includ+-- 7,a7 con/ruction co/-%>+1 includ+ acquisition ( additional surface & subsurface rights2 7,b7 />t-up co/-%>+2 7,c7 a f9ancially back$ completion gu>antee2 7,d7 a f9ancially back$ p]=mance gu>antee2 7,e7 f9ancially back$ op]at+ contracts = diff]5ces2 7,f7 a loan gu>antee2 7,g7 indemnification = ?ird-p>ty claims aga9/ ! eligible project & its asset own]s1 :i* are associat$ ) a c>bon dioxide /orage site t has be5 c]tifi$ z safely clos$ by ! ,/ate ) jurisdiction ov] ! associat$ injection wells1 z long z ,f$]al indemnification does n sub/itute = indemnification or insurance programs reasonably available f ?ird-p>ty insur]s2 & 7,h7 f9ancial res]ves or fees to support eligible projects acquir+ insurance2 7#f7 ensure close coord9ation & sub/antial in=mation %>+ betwe5 ! (fices ( ! ,dep>tm5t t are adm9i/]+ su* program & title ,,xvii ( ?is ,act2 7#g7 assess ! economics1 p]=mance1 & risks associat$ ) ea* eligible project to provide reasonable assurances t ! sum ( inc5tives provid$ by ! ,dep>tm5t-- 7,a7 are adequate to give eligible projects an opportunity to attract comm]cial f9anc+2 & 7,b7 d n ov] inc5tivize ! eligible project2 7#h7 e/abli% "o or m tru/ funds to hold ! ,f$]al funds associat$ ) ! program2 & 7#i7 deposit am\nts made available to c>ry out ! program into ! tru/ funds e/abli%$ pursuant to p>agraph 7#h7 into ! program tru/ )9 #ij days ( receipt4 7e7 ,exp5ditures ,am\nts 9 ! tru/ funds e/abli%$ pursuant to subsection 7d77#h7 %all be available1 )\t fur!r appropriation1 to c>ry out ! program e/abli%$ "u subsection 7b74 7f7 ,co/-,%>+ 7#a7 ,project concept /udies ,! ,secret>y may provide grants ( up to #e1jjj1jjj = project concept /udies p] eligible project4 7#b7 ,co/ %>+ = project developm5t phase ,! ,secret>y %all require successful applicants ( eligible projects to provide #aj p]c5t non-,f$]al co/-%>e = co/s incurr$ = activities dur+ ! project developm5t phase4 7#c7 ,co/ %>+ = con/ruction phase ,! ,secret>y %all det]m9e ! non-,f$]al co/-%>+ = ! con/ruction phase ( ea* eligible project bas$ on project ne$1 & ! am\nt ( ,f$]al con/ruction-relat$ inc5tives provid$1 "u ?is program & any con/ruction-relat$ ,dep>tm5t loan gu>antees1 %all n exce$ ! am\nt specifi$ 9 section #agjb7;c74 7#d7 ,loan gu>antee program fees ,fees paid pursuant to section #agjb7;h7 are consid]$ an all[able exp5se ( funds made available = ! program e/abli%$ "u subsection 7b74 7#e7 ,tax cr$its ,f$]al tax cr$its %all n c\nt aga9/ ! maximum non-,f$]al co/-%>+ provisions ( ?is section4 7g7 ,au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,secret>y = grants = project concept /udies1 & = adm9i/rative exp5ses = ! program e/abli%$ "u subsection 7b71 #cjj1jjj1jjj to rema9 available until exp5d$4 4 7b7 ,table ( cont5ts ,! table ( cont5ts = ! ,en]gy ,policy ,act ( #bjje is am5d$ by add+ aft] ! item relat+ to section #ifi;,d ! foll[+3 ,sec4 #igj4 ,net-negative c>bon dioxide baseload p[] developm5t & comm]cialization program4 4