HR 7896 · 116th Congress · Taxation
RECOUPS Act of 2020
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Select Revenue Measures.(2020-07-31)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (2)
1 Democrat1 Republican