Study on the long-term future of Federal carbon dioxide removal management

Not later than 1 year after the date of enactment of this Act, the Secretary of Energy, in consultation with the Administrator of the National Oceanic and Atmospheric Administration, the Administrator of the Environmental Protection Agency, the Secretary of the Department of Agriculture, and other relevant Federal agencies, shall submit to the Committee on Energy and Commerce of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report that evaluates and makes recommendations for potential program design elements and financing options for a Federal carbon dioxide removal offtake program that can be scaled to achieve carbon dioxide removal from the atmosphere and the oceans at a gigaton scale annually by 2050. Such report shall include consideration of potential management and organizational structures for the program, including— (1) a government sponsored enterprise; (2) a government corporation; (3) a program office with the Department of Energy or other Federal agency; and (4) a contracted service provider.