Enhancing Energy Recovery Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 7
- 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) to ensure equal treatment for different uses of captured carbon oxide, including geological storage, use in enhanced oil or gas recovery, and other qualified utilizations. It adjusts the credit amount to $17 per ton for 2025–2026, indexed for inflation thereafter, and updates related provisions to reflect a streamlined structure for calculating the credit. The changes would apply to taxable years beginning after December 31, 2024, affecting taxpayers claiming the credit for qualified carbon oxide projects. A conforming update is also made to Section 6417 to…
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.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.