IL SR2462

Calls upon Congress to pass and the President to sign legislation extending and expanding the federal tax credit for carbon capture, utilization, and storage (CCUS) under Section 45Q of the Internal Revenue Code.

Asserts that CCUS technology is essential for addressing climate change goals at the lowest cost and is necessary for deep decarbonization of industrial sectors and power generation.

Notes Illinois has the largest recoverable bituminous coal reserves in the United States and the state's coal industry generates over $2.5 billion in annual economic activity while employing approximately 5,000 miners with average salaries of $85,000.

Highlights Illinois research institutions including the University of Illinois Prairie Research Institute, Southern Illinois University, and community colleges are collaborating on applied CO2 research, workforce development, and practical applications of carbon capture technology.

Directs copies of the resolution be delivered to the President, Speaker of the House, Senate Majority Leader, and all members of the Illinois Congressional Delegation.