Increased Tax Credits for Carbon Capture
This bill increases tax credits for companies that capture carbon dioxide. This aims to encourage investment in technologies that reduce greenhouse gas emissions, potentially impacting air quality, the environment, and future energy costs.
Key points
Higher tax credit amounts for carbon oxide sequestration, potentially lowering costs for companies using these technologies.
Changes to the definition of a qualified facility, which may broaden the scope of businesses eligible for credits.
New tax credit rules will apply to tax years beginning after December 31, 2021.
Expired
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