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ACCCE Applauds Passage of Landmark Clean Coal Measures and Successful Wrap to the Texas Legislative Session

Posted on: Thursday, 4 June 2009, 11:26 CDT

AUSTIN, Texas, June 4 /PRNewswire-USNewswire/ -- The American Coalition for Clean Coal Electricity applauds the successful conclusion of Texas' 81st legislative session and the passage of several bills that provide comprehensive incentive measures for clean coal technology projects in the state.

"The measures endorsed by ACCCE and the Clean Coal Technology Foundation of Texas that passed this session represent a major step forward in the development of clean coal technologies and help solidify Texas as a leader in creating clean energy from our country's most abundant fuel source," said Joe Lucas, vice president of communications for ACCCE.

Key among the incentive bills, HB 469 establishes sales tax exemptions on certain equipment for projects that capture at least half of their carbon dioxide emissions and gives local taxing authorities the freedom to grant further tax breaks during the initial phase of development. Further, HB 469 authorizes a $100 million franchise tax credit to the first three in-state projects that can achieve a 70 percent carbon capture rate. Amendments to the bill also set environmental performance standards for potential projects higher than any other state or national incentive program.

Enhanced oil recovery efforts in Texas receive a boost from HB 469 thanks to a provision that grants a 75 percent, 30-year severance tax exemption for oil recovered using carbon dioxide captured from a man-made emission source, such as an advanced clean coal plant.

In addition to HB 469, two bills emerged that air to capitalize on Texas' immense potential for the storage of carbon dioxide. HB 1387 addresses the regulatory oversight of captured CO2 and HB 1796 creates an offshore carbon repository program and a grant program for new emissions-reducing technologies, such as carbon capture and sequestration.

Other legislation containing benefits for clean coal technology include HB 3676 and HB 3896, both of which deal with enabling certain tax jurisdictions the ability to help attract major energy and other economic development projects to their area with greater tax freedoms.

"This was a banner session for clean coal technologies and Texas lawmakers have positioned Texas as ground zero for advanced clean coal projects," said Lucas. "Texans should be proud of what was accomplished this year."

About ACCCE

The American Coalition for Clean Coal Electricity (ACCCE) is a non-profit, non-partisan partnership of companies involved in producing electricity from coal. Because coal is America's most abundant energy resource, ACCCE supports energy policies that balance coal's vital role in meeting our country's growing need for affordable and reliable electricity with the need to protect the environment. ACCCE also advocates for the development and deployment of advanced clean coal technologies that will produce electricity with near-zero emissions. Headquartered in Alexandria, VA, ACCCE has more than 40 members that represent more than $190 billion in annual revenues and employ more than 360,000 Americans. For more information, visit www.cleancoalusa.org or www.americaspower.org.

SOURCE American Coalition for Clean Coal Electricity

Source: PR Newswire

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