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Carbon Capture Tax Credits: Extended Availability and Direct Payments

This act extends the availability of tax credits for companies involved in carbon capture and storage. It also introduces the option for direct payment of these credits, which could facilitate investments in technologies that reduce greenhouse gas emissions. The goal is to support environmental efforts and the development of new technologies.
Key points
Extends carbon capture tax credits until 2036, giving companies more time to plan investments.
Introduces the option for direct payment of tax credits, potentially improving cash flow for companies investing in emission reduction technologies.
Allows carbon capture credits to be offset against the base erosion minimum tax, which may increase their attractiveness for large corporations.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_1062
Sponsor: Rep. McKinley, David B. [R-WV-1]
Process start date: 2021-02-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ACCESS 45Q Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1062.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-15.

What are the main provisions?

Key points include:

  • Extends carbon capture tax credits until 2036, giving companies more time to plan investments.
  • Introduces the option for direct payment of tax credits, potentially improving cash flow for companies investing in emission reduction technologies.
  • Allows carbon capture credits to be offset against the base erosion minimum tax, which may increase their attractiveness for large corporations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McKinley, David B. [R-WV-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Environment Economy