Enhancing Energy Recovery Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 4
- Latest action
- Feb 5, 2025
What it does
The Enhancing Energy Recovery Act would amend the Internal Revenue Code to modify the carbon oxide sequestration credit (Section 45Q) by establishing parity in tax credit amounts for different uses of qualified carbon oxide, including geological storage, use as a tertiary injectant in enhanced oil or gas recovery, and other utilization methods. It sets a base credit of $17 per metric ton for taxable years beginning after 2024 and before 2027, adjusted for inflation thereafter, and increases the credit for certain uses to $36 per ton through conforming changes. The amendments would apply to taxable years beginning after December 31, 2024, affecting taxpayers claiming credits for carbon oxide…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.