3.0.0 7896 2023-01-11T13:45:45Z 2023-01-11T13:45:45Z House HR 2020-07-31 116 [Congressional Record Volume 166, Number 136 (Friday, July 31, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BERGMAN:H.R. 7896.Congress has the power to enact this legislation pursuantto the following:Article One, Section Eight of the United StatesConstitution[Page H4214]]]> hswm00 Ways and Means Committee House Standing hswm05 Tax Subcommittee Referred to 2020-07-31T14:41:29Z Referred to 2020-07-31T13:01:20Z 2020-07-31 hswm05 Tax Subcommittee 1 House committee actions Referred to the Subcommittee on Select Revenue Measures. Committee 2020-07-31 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2020-07-31 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-07-31 Introduced in House IntroReferral 1000 9 Library of Congress B001301 Rep. Bergman, Jack [R-MI-1] Jack Bergman R MI 1 N F000468 Rep. Fletcher, Lizzie [D-TX-7] Lizzie Fletcher D TX 7 2020-07-31 True M001194 Rep. Moolenaar, John R. [R-MI-4] John Moolenaar R MI R. 4 2020-09-17 False Taxation Air quality Climate change and greenhouse gases Energy efficiency and conservation Income tax credits Tax administration and collection, taxpayers Taxation 00 2020-07-31 Introduced in House 2020-10-26T17:34:34Z Redeeming Effectiveness to Carbon Oxide Utilization Plus Sequestration Act of 2020 or the RECOUPS Act of 2020

This bill 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.

]]> RECOUPS Act of 2020 Display Title RECOUPS Act of 2020 Short Title(s) as Introduced RECOUPS Act of 2020 Introduced in House IH Short Title(s) as Introduced Redeeming Effectiveness to Carbon Oxide Utilization Plus Sequestration Act of 2020 Introduced in House IH Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow the carbon capture credit to enhance the efficiency and effectiveness of the carbon oxide sequestration tax credit. Introduced in House IH Introduced in House 2020-07-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7896ih/xml/BILLS-116hr7896ih.xml 2020-07-31 Referred to the Subcommittee on Select Revenue Measures. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.