Methane Reduction and Economic Growth Act

The Methane Reduction and Economic Growth Act would amend Section 45Q of the Internal Revenue Code to create a new tax credit for capturing methane from mining activities, including underground, abandoned, closed, and surface mines. The credit would apply to qualified methane captured after December 31, 2024, from facilities that begin construction before January 1, 2036 and capture at least 2,500 metric tons of CO2e annually, provided the methane is either injected into compliant pipelines for energy use or used for heat or other energy production with minimal atmospheric release. The bill defines qualified methane, methane capture equipment, and qualified facilities, and modifies existing…

No official summary is available here. This one was written by AI from the bill’s text.