Tax Credits for Mine Methane Capture: Environmental and Economic Support.
This new act introduces tax credits for companies that capture methane from mines, including underground, abandoned, and surface mines. The goal is to reduce harmful methane emissions into the atmosphere, potentially improving air quality and combating climate change. Citizens may experience indirect benefits related to a cleaner environment and the potential development of new technologies.
Key points
Mining companies can receive tax credits for capturing methane that would otherwise be released into the atmosphere.
Captured methane must be used for energy production or injected into pipelines meeting safety standards.
The program applies to methane captured after December 31, 2022, meaning credits may be available for the past year.
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Citizen Poll