US HB7896 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on July 31 2020 - 25% progression, died in committee
Action: 2020-07-31 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 31 2020 - 25% progression, died in committee
Action: 2020-07-31 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
RECOUPS Act of 2020 Redeeming Effectiveness to Carbon Oxide Utilization Plus Sequestration Act of 2020
Sponsors
Rep. Jack Bergman [R-MI] | Rep. Elizabeth Fletcher [D-TX] | Rep. John Moolenaar [R-MI] |
History
Date | Chamber | Action |
---|---|---|
2020-07-31 | House | Referred to the Subcommittee on Select Revenue Measures. |
2020-07-31 | House | Referred to the House Committee on Ways and Means. |
2020-07-31 | House | Introduced in House |
Subjects
Air quality
Climate change and greenhouse gases
Energy efficiency and conservation
Income tax credits
Tax administration and collection, taxpayers
Taxation
Climate change and greenhouse gases
Energy efficiency and conservation
Income tax credits
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/7896/all-info |
Text | https://www.congress.gov/116/bills/hr7896/BILLS-116hr7896ih.pdf |