Source: Carbon Capture and Storage Early Deployment Act
Authorizes qualified industry organizations to conduct a referendum among utilities delivering fossil fuel-based electricity for the creation of a Carbon Storage Research Corporation to establish a program to accelerate the commercial availability of carbon dioxide capture and storage technologies and methods through the provision of contracts and financial assistance:
Requires the Corporation, annually, to assess the relative carbon dioxide emission rates of different fossil fuel-based electricity for each utility.
Sets initial rates of assessment for coal, natural gas, and oil.
Authorizes the Corporation to adjust the assessments to reflect changes in the expected quantities of such electricity from different fuel types such that the assessments generate between $1.0 billion and $1.1 billion annually.
Authorizes the Corporation to collect assessments and conduct operations for 10 years.