To amend the Internal Revenue Code of 1986 to extend and allow an elective payment of the tax credit for carbon oxide sequestration.
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.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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