Allows state to provide up to half of the private investment in “Advanced Clean Energy Projects” by making or guaranteeing certain loans on carbon capture ready projects. Advanced Clean Energy Projects are defined as those which render carbon dioxide capable of capture, sequestration, or abatement.
It also allows for a 50 percent reduction in taxes paid on oil recovered from an enhanced oil recovery program if anthropogenic carbon dioxide produced in Texas is sequestered in that enhanced oil recovery project.
