U.S. CONGRESS – U.S. Senator Steve Daines and Congressman Greg Gianforte introduced a bill to support and create Montana energy jobs by extending a refined coal production tax credit. The bill will help improve the economics of Colstrip, promote clean coal production and reduce emissions.
“Colstrip and energy jobs are a critical part of our Montana way of life,” Daines said. “This bill will protect good-paying energy jobs, support refined coal production, and reduce emissions. This is a win for Montana, this is a win for the environment, and this is a win for American energy dominance.”
“For too long, IRS inaction has left Colstrip in the lurch with uncertainty,” Gianforte said. “This legislation will help provide greater certainty and open the spigot of investment in Colstrip. Our bill protects good-paying Montana jobs and promotes cleaner coal.”
The bill is estimated to generate up to $55 million of economic activity with respect to the Colstrip facility. There are at least 60 refined coal facilities nationwide in at least 25 states.
In 2004, Congress enacted a production tax credit in order to help coal plants reduce emissions by facilitating refined coal production. Due to a delay in IRS guidance, investors lost necessary certainty to support refined coal production, causing a chill on investment on refined coal facilities like the Tinuum facility at the Colstrip generating station. The bill will restore the two years lost due to uncertainty and ensue investment necessary to get refined coal production going at plants like Colstrip.
For bill text click HERE.
Stakeholder Support:
“Thank you Senator Daines and Representative Gianforte for proposing the Refined Coal Tax Extension Bill. It will help the Colstrip Units to find processes to burn our coal cleaner, and keep Montanans working.” – Duane Ankney, Montana State Senator, Senate District 20
“As an economic development professional working in the heart of Montana Coal Country for the past 18 years, I certainly welcome and support the proposed extension of the Refined Coal Production Tax Credit. This simply makes sense! I think it’s important to have a level playing field as to all federal energy tax credits. It’s also important to give the private sector a clear message which would ensure good high paying jobs, increase Investment and reduce emissions for two more years. This is the best of both worlds.” – Jim Atchison, Executive Director of Southeastern Montana Development, Colstrip
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