Section 45Q Tax Credit Increase May Spur Carbon Capture
Law360 (August 20, 2018, 1:30 PM EDT) -- The Bipartisan Budget Act of 2018, enacted on Feb. 9, significantly increased and extended the tax credit for the capture and sequestration of carbon oxides provided under Section 45Q of the Internal Revenue Code. This development, which has been a top priority of carbon capture and sequestration supporters for several years, is expected to significantly boost deployment of carbon capture and storage, or CCS, across the United States and represents a potential opportunity for emitting companies, oil and gas companies and industrial users of carbon oxides.
The International Energy Agency and other respected analysis organizations have stated that CCS is a “vital” technology...
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