Summary: H.R.7896 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.7896. Bill summaries are authored by CRS.

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Introduced in House (07/31/2020)

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.