House Bill 1062
117th Congress(2021-2022)
ACCESS 45Q Act
Introduced
Introduced in House on Feb 15, 2021
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
1062
Congress
117
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
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.
February 15, 2021
02/15/2021
Referred to the House Committee on Ways and Means.
02/15/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:47:23 PM