What does Preamble of Methane Reduction and Economic Growth Act do?

This bill proposes to amend section 45Q of the Internal Revenue Code of 1986. The stated purpose of the bill is to establish the mine methane capture incentive credit.

What does SHORT TITLE. of Methane Reduction and Economic Growth Act do?

This bill is formally titled the Methane Reduction and Economic Growth Act.

What does MINE METHANE CAPTURE INCENTIVE CREDIT. of Methane Reduction and Economic Growth Act do?

This section amends Section 45Q(f) of the Internal Revenue Code of 1986 to create a credit for methane capture. The credit applies to qualified methane captured from mining activities, including underground, abandoned, and surface mines. To qualify, methane capture equipment construction must begin before January 1, 2036, and the facility must capture at least 2,500 metric tons of CO2e methane annually. Captured methane can qualify for the credit if it is injected for energy use into a pipeline meeting specific integrity guidelines or used for producing heat without significant methane release. The term 'qualified methane' refers to methane captured from mining activities that would otherwise be released into the atmosphere and is measured and verified. The term 'methane capture equipment' refers to equipment connecting a qualified facility to a pipeline or energy generation equipment.

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Methane Reduction and Economic Growth Act

Last updated: 3/5/2025 · Introduced: 3/5/2025

Author: Carol Miller (R-WV)

TL;DR (AI)

This bill establishes a tax credit for capturing methane from mining operations, including underground, abandoned, and surface mines.
To qualify for the credit, methane capture equipment construction must begin before 2036, and facilities must capture at least 2,500 metric tons of CO2e methane annually.
Captured methane can qualify for the credit if it is used for energy or heat production while meeting specific integrity and release standards.

119th Congressin committeeS. 2304(In Committee)Official page

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Includes provisions on preamble, short title., and 1 more.

3 sections

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