H.R. 2828:
H.R. 2828: New Apollo Energy Act, which includes a slightly modified version of
H.R. 759. The bill would also, among other things, establish a national goal of reducing total CO
2 emissions in the United States to the 2000 level by 2015; authorize a program of research, development, demonstration, and commercial application of carbon sequestration and carbon recapture methods with the goal of sequestering 20% of US GHG emissions from stationary sources by 2010, 40% by 2015, and 60% by 2020; create tax incentives for emission control systems that removes or reduces at least 90% of CO
2 emissions; guarantee up to 80% of the principal of any loan for a coal-burning power plant that sequesters at least 90% of its CO
2 emissions; authorize a pilot program for financial assistance for projects in developing countries that result in a GHG reduction per unit of energy produced (compared to the technology that would otherwise be implemented) of at least 20% for a unit in service before 2010; 40% if put in service between 2010 and 2020; or 60% if put in service between 2020 and 2030.