H.R. 7896 · 116th Congress
RECOUPS Act of 2020
- Stage
- In committee
- Sponsor
- Jack Bergman
- Introduced
- 2020-07-31
- Latest action
- 2020-07-31 · Introduced in House
Summary
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.