To amend the Internal Revenue Code of 1986 to allow the carbon capture credit to enhance the efficiency and effectiveness of the carbon oxide sequestration tax credit.
About This Bill
Committee
Latest Action · July 31, 2020
Referred to the Subcommittee on Select Revenue Measures.
Redeeming Effectiveness to Carbon Oxide Utilization Plus Sequestration Act of 2020 or the RECOUPS Act of 2020
This bill allows taxpayers who claim a carbon oxide sequestration tax credit to elect to treat the credit as a payment in excess of tax liability. This allows the taxpayer a direct payment of 90% of the dollar amount of the credit.
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