HR 7896
Recoups act of 2020
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Bill overview
The Recoups Act of 2020 aims to improve the carbon capture tax credit system. It allows taxpayers who receive a carbon oxide sequestration tax credit to choose to have a portion of that credit paid directly to them as a reduction in their tax liability, up to a maximum of 90%. This change is designed to incentivize carbon capture and sequestration by making the tax credit more valuable and easier to utilize. The bill takes effect starting in 2020.
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