HR 1062
117th Congress
House
Taxation
Air quality
Climate change and greenhouse gases
Income tax credits
Tax administration and collection, taxpayers
ACCESS 45Q Act
Introduced: February 15, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 15, 2021
Referred to the House Committee on Ways and Means.
Feb 15, 2021
Introduced in House
Plain-English summary
Accelerating Carbon Capture and Extending Secure Storage through 45Q Act or the ACCESS 45Q Act
This bill extends the tax credit for carbon oxide sequestration through 2035 and allows taxpayers an election to receive payments in lieu of the credit.
The bill also permits an allowance of the carbon oxide tax credit against the base erosion minimum tax. The base erosion minimum tax is a tax on large corporation that is calculated after adding back to taxable income certain deductible payments made to related foreign persons.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1