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S. 1535: FUTURE Act

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S. 1535: FUTURE Act

115th Congress · introduced 2017-07-12 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2017-07-12 · official record
  2. Who proposed it: Sen. Heitkamp, Heidi [D-ND] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

FUTURE Act

Plain summary

Furthering carbon capture, Utilization, Technology, Underground storage, and Reduced Emissions Act or the FUTURE Act This bill amends the Internal Revenue Code to extend and modify the tax credit for carbon dioxide sequestration. The bill modifies the credit to apply it to carbon oxide sequestration. (Carbon oxide refers to any of the three oxides of carbon: carbon dioxide, carbon monoxide, and carbon suboxide.) The bill also: allows certain new industrial or direct air capture facilities to qualify for the credit if construction begins before January 1, 2024; allows qualified projects to claim the credit for 12 years, beginning on the date the equipment was originally placed in service; increases the separate credit amounts, with respect to projects placed in service upon or after the enactment of this bill, that apply to captured carbon oxide that is: (1) disposed of in secure geological storage, and (2) used as a tertiary injectant in an enhanced oil or natural gas recovery project and disposed of in secure geological storage; expands the purposes for which captured carbon oxide may be used; establishes separate carbon oxide capture thresholds for electricity generating facilities, direct air capture facilities, and facilities used for other purposes; specifies that the 75 million metric ton cap on the carbon dioxide that may qualify for the credit applies to carbon oxide and only to projects placed in service before the enactment of this bill; and allows the credit to be transferred from the entity that owns and uses the capture equipment to the entity that disposes of or uses the carbon oxide.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

FUTURE Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Heitkamp, Heidi [D-ND] · 24 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Shelley Moore Capito (R-WV), Sheldon Whitehouse (D-RI), John Barrasso (R-WY), Tim Kaine (D-VA), Brian Schatz (D-HI), Cory A. Booker (D-NJ), Amy Klobuchar (D-MN), Richard J. Durbin (D-IL), Mark R. Warner (D-VA), Tammy Duckworth (D-IL), Gary C. Peters (D-MI), Christopher A. Coons (D-DE), Michael F. Bennet (D-CO), Angus S. King, Jr. (I-ME)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong115-s1535 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115