House Bill 7896
116th Congress(2019-2020)
RECOUPS Act of 2020
Introduced
Introduced in House on Jul 31, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7896
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
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.
July 31, 2020
07/31/2020
Referred to the Subcommittee on Select Revenue Measures.
07/31/2020
Referred to the House Committee on Ways and Means.
07/31/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:45 PM