Search Results: keywords:"carbon oxide sequestration"

  • S. 5212 — To amend the Internal Revenue Code of 1986 to modify the carbon oxide sequestration credit to ensure parity for different uses and utilizations of qualified carbon oxide.
    💰
    Status:Introduced in Senate
    Words:784

    S. 5212, titled the “Enhanced Energy Recovery Act,” is designed to amend the Internal Revenue Code of 1986. It changes the carbon oxide sequestration tax credit to ensure equal benefits for different uses of carbon oxide, including geological storage, use as an injectant in...

    Simple Explanation

    The "Enhanced Energy Recovery Act" is a new rule that changes how a special tax credit works for catching carbon, making sure everyone gets a fair deal no matter how they use the carbon, like storing it or using it to get more oil. The amount of this tax credit will change with inflation, to make sure it stays useful over time.

  • H. R. 1946 — To amend the Internal Revenue Code of 1986 to repeal the carbon oxide sequestration credit.
    Status:Introduced in House
    Words:831

    H.R. 1946, known as the "45Q Repeal Act of 2025," aims to change the Internal Revenue Code by getting rid of the tax credit for carbon oxide sequestration. The bill repeals section 45Q and makes several related changes to other sections of the Code to remove references to this credit. The...

    Simple Explanation

    H.R. 1946, called the "45Q Repeal Act," is a bill that wants to stop giving money back to people who catch and store carbon in the ground, which is like trying to store away the “bad stuff” that comes out of cars. It might make it harder for places to keep the air clean by stopping those money rewards after 2025.

  • S. 425 — To amend the Internal Revenue Code of 1986 to modify the carbon oxide sequestration credit to ensure parity for different uses and utilizations of qualified carbon oxide.
    💰
    Status:Introduced in Senate
    Words:795

    The bill S. 425 proposes changes to the Internal Revenue Code of 1986 to update the carbon oxide sequestration credit. It seeks to establish equal treatment for different ways qualified carbon oxide can be used or stored, including using it in oil or gas projects, and adjusts...

    Simple Explanation

    The bill wants to change how we give rewards or tax credits for keeping carbon dioxide safely stored or used in different ways, like in oil projects. It makes sure everyone gets treated fairly and adjusts the credits based on how much money can buy, starting in 2025.

  • H. R. 1003 — To amend the Internal Revenue Code of 1986 to modify the carbon oxide sequestration credit to ensure parity for different uses and utilizations of qualified carbon oxide.
    💰
    Status:Introduced in House
    Words:770

    H. R. 1003, known as the “Enhancing Energy Recovery Act,” proposes changes to the Internal Revenue Code of 1986 to adjust the carbon oxide sequestration credit. The bill aims to ensure fair treatment for different methods of using and storing carbon oxide. It includes...

    Simple Explanation

    H. R. 1003 is a plan to change how the government gives money back to people or companies when they save carbon gas in special ways, like putting it underground. They want to make sure all the different ways of storing carbon gas are treated the same and start using this new plan after 2024, but it might be tricky for everyone to get ready in time.