Section 1 Short Title
This Act may be cited as the “Carbon Capture Prize Act”.
Carbon Capture Prize Act
A BILL
To authorize the Secretary of Energy to establish a prize competition for the research, development, or commercialization of technology that would reduce the amount of carbon in the atmosphere, including by capturing carbon dioxide directly from the atmosphere.
Sec. 2 Establishment of Prize Competition
Prize Competition— The Secretary of Energy, individually or in cooperation with the heads of other Federal agencies, shall carry out a program pursuant to section 24 of the Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. 3719) to award prizes competitively to incentivize the research, development, or commercialization of technology that reduces the amount of carbon dioxide in the atmosphere by direct carbon removal and permanent sequestration.
Prize Amount— In carrying out the program established under subsection (a), the Secretary may award not more than $30,000,000, in the aggregate, to the winner or winners of the prize competition.
Definition of Federal Agency— In this section, the term “Federal agency” has the meaning given the term under section 24(a)(3) of the Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. 3719 (a)(3)).