Bill116th CongressFiled Jul 31, 2020Taxation
H.R. 7896
RECOUPS Act of 2020
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jul 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.
What just happenedJul 31, 2020
Referred to the Subcommittee on Select Revenue Measures.
Who’s behind it
Rep. Bergman, Jack [R-MI-1](R-MI)Sponsor
2 cosponsors1 D1 R
2cosponsors1committees4actions5subjects
- Introduced in HouseJul 31, 2020
- Jul 31, 2020Committee
Referred to the Subcommittee on Select Revenue Measures.
Tax Subcommittee - Jul 31, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 31, 2020IntroReferralIntro-H
Introduced in House
- Jul 31, 2020IntroReferral1000
Introduced in House