Rep. King has introduced HB 469 to the Texas state legislature. The bill’s goal is to make clean coal projects economically viable through different incentives. In order to be eligible for the incentives, IGCC plants would need to capture and store at least 60 percent of its carbon dioxide emissions. A franchise tax credit would be available for those projects that promote research and development. A tax rate reduction would also be available to those clean energy projects that use the CO2 to produce oil through enhanced oil recovery. In addition to these incentives, up to $100 million in franchise taxes per plant could be waived.
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