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HR 7896 116th Congress House Taxation Air quality Climate change and greenhouse gases Energy efficiency and conservation Income tax credits Tax administration and collection, taxpayers

RECOUPS Act of 2020

Introduced: July 31, 2020 Introduced by: Bergman, Jack Republican · Michigan See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2020
Referred to the Subcommittee on Select Revenue Measures.
Jul 31, 2020
Referred to the House Committee on Ways and Means.
Jul 31, 2020
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now July 31, 2020

Referred to the Subcommittee on Select Revenue Measures.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 1 Republican 1