Summary
National Electricity and Environmental Technology Act - Directs the Secretary of Energy to: (1) perform an assessment that establishes cost and performance goals with respect to technologies that would permit the continued cost-competitive use of coal for electricity generation, chemical feedstocks, and transportation fuel in 2007, 2015, and 2020; (2) biennially transmit to Congress the results of a study to identify technologies capable of achieving specified cost and performance goals; and (3) implement under specified Federal law a research and development program, including commercial application of coal-based technologies.
Directs the Secretary to establish a clean coal power commercial applications initiative that will demonstrate commercial applications of advanced coal-based technologies applicable to new or existing power plants, including coproduction plants.
Amends the Internal Revenue Code to establish tax credits for: (1) investment in qualifying clean coal technology; (2) production from a qualifying clean coal technology unit; (3) investment in qualifying advanced clean coal technology facilities; and (4) production from qualifying advanced clean coal technology. Mandates creation of a Federal risk pool for qualifying advanced clean coal technology.
Treats such tax credits as refundable overpayments (excessive credits) with respect to specified organizations and governmental units.
Lifecycle of the Bill
No events recorded for this stage yet.
No events recorded for this stage yet.
