U.S. Senators Shelley Moore Capito (R-W.Va.) and Mark Warner (D-Va.) have reintroduced the Methane Reduction and Economic Growth Act. This legislation aims to create a tax credit to incentivize the capture and repurposing of methane emissions from active and abandoned mines.
“I’m proud to help reintroduce the Methane Reduction and Economic Growth Act, which will help capture and utilize mine methane emissions as a fuel source from coal mines. This legislation will result in positive environmental and economic impacts, and create another step for West Virginia to continue to lead the nation in an ‘all-of-the-above’ energy approach,” Senator Capito said.
“This legislation takes a critical step in boosting Virginia’s efforts to address the harmful impact of methane when emitted into the atmosphere while simultaneously creating good-paying jobs and supporting economic growth,” Senator Warner said. “By incentivizing the reduction of methane emissions, we’re not only protecting the environment but also strengthening our energy independence, I’m proud to reintroduce this legislation.”
The Methane Reduction and Economic Growth Act proposes an amendment to Section 45Q of the Internal Revenue Code. It would establish a Mine Methane Capture Incentive Credit attributed to taxpayers based on qualified methane captured and injected into pipelines or used for heat or energy production. Qualified methane includes that captured from various mining activities, which would otherwise be released as industrial greenhouse gas emissions, with measurements verified at both capture source and point of utilization.
