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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.
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Status:
Expired
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Additional Information
ACCESS 45Q Act
Print number: HR 1062
Sponsor: Rep. McKinley, David B. [R-WV-1]
Process start date: 2021-02-15
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Carbon Capture Tax Credits: Extended Availability and Direct Payments

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is 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.

Analysis and Potential Impact of HR 1062

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Taxes Environment Economy