Bill > HR5194

This bill, the Carbon Capture and Sequestration Expansion Act, aims to extend and modify the tax credit for carbon oxide sequestration. The key provisions include: 1. Extending the availability of the tax credit from January 1, 2026 to January 1, 2032, for facilities that begin construction after December 31, 2025. 2. Modifying the carbon oxide capture requirements for different types of facilities, including reducing the minimum capture threshold for direct air capture facilities and electricity generating facilities, and requiring a certain percentage of the carbon oxide that would otherwise be released to be captured. 3. The amendments related to the capture requirements apply to taxable years beginning after December 31, 2021. The tax credit, known as the Section 45Q credit, is designed to incentivize the capture, utilization, and storage of carbon oxide, which can help mitigate the effects of climate change.

Budget and Finance

https://www.congress.gov/bill/117th-congress/house-bill/5194/all-info