News & Analysis as of

Carbon Capture and Sequestration Comment Period

Latham & Watkins LLP

EPA Proposes Granting West Virginia Primacy for Class VI Wells

Latham & Watkins LLP on

The proposal represents a step forward for carbon capture and storage projects in the state and could accelerate the permitting process. The US Environmental Protection Agency (EPA) has proposed a significant regulatory...more

Holland & Knight LLP

Breaking Down the Section 45V Clean Hydrogen PTC Proposed Regulations

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The U.S. Department of the Treasury and the IRS on Dec. 22, 2023, released proposed regulations regarding the production tax credit (PTC) for hydrogen under Section 45V of the Internal Revenue Code, as enacted by the...more

Troutman Pepper Locke

EPA’s New Carbon Standards for Power Plants Require Quick Decisions

Troutman Pepper Locke on

EPA’s long-promised rules for reducing CO2 emissions from fossil fuel-fired power plants have now been published. In the proposal, EPA lays out “performance standards” for new natural gas-fired power plants and “emission...more

Hinshaw & Culbertson LLP

Louisiana Takes Major Step Towards Administering Class VI Geologic Wells for Carbon Sequestration Use

Louisiana Takes Major Step Towards Administering Class VI Geologic Wells for Carbon Sequestration Use - Louisiana's quest for primacy over its Class VI well program took a big step forward last Friday when the United...more

Wiley Rein LLP

Treasury Requests Comments for Upcoming Guidance on Energy Tax Benefits in the Inflation Reduction Act

Wiley Rein LLP on

The U.S. Treasury Department (Treasury) and the Internal Revenue Service (IRS) published six notices on October 5, 2022, requesting comments on various provisions in the Internal Revenue Code (Code) related to energy tax...more

Womble Bond Dickinson

CEQ Issues Interim CCUS Guidance

Womble Bond Dickinson on

On February 16th, the Council on Environmental Quality (“CEQ”) published an interim document to guide the regulation and permitting of carbon capture, utilization, and sequestration (“CCUS”) technologies....more

Cole Schotz

New Jersey Seeks Comment On Carbon Sequestration Strategy In Natural and Working Lands

Cole Schotz on

On December 13th, the New Jersey Departments of Environmental Protection and Agriculture introduced a joint “Natural and Working Lands Strategy Scoping Document” as part of the State’s climate change strategy...more

Jones Day

California Air Resources Board Preparing Scoping Plan for Carbon Neutral Future

Jones Day on

The California Air Resources Board ("CARB") is conducting public workshops during the fall of 2021 as part of its planning for the next Climate Change Scoping Plan, which will lay out strategies for achieving California's...more

Latham & Watkins LLP

Carbon Capture Industry Receives Long-Awaited 45Q Tax Credit Guidance

Latham & Watkins LLP on

The IRS addressed key commercial and technical issues regarding the development and financing of carbon capture and sequestration projects. Key Points: ..The IRS released the first two of three anticipated guidance...more

McGuireWoods LLP

Carbon Sequestration Tax Credits - IRS Requests Comment on Section 45Q Regulations

McGuireWoods LLP on

In February 2018, the tax credit for carbon capture and sequestration under Section 45Q of the Internal Revenue Code (the carbon sequestration credit) received a significant boost from Congress in the Bipartisan Budget Act of...more

Eversheds Sutherland (US) LLP

IRS requests comments on section 45Q carbon sequestration credit in Notice 2019-32

On May 2, 2019, the Internal Revenue Service (IRS) released Notice 2019-32 (Notice) requesting comments on anticipated regulations and other guidance under section 45Q of the Internal Revenue Code. Section 45Q was originally...more

Stoel Rives LLP

North Dakota’s UIC Class VI Primacy Wait is Almost Over

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The U.S. Environmental Protection Agency (EPA) is poised to approve North Dakota’s application for primary enforcement authority over the underground injection of CO2 for geologic sequestration in that state. Nearly four...more

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