45Q: Toward a Stronger Federal Carbon Capture Tax Credit

Q3 Environmental Science

Environmental Claims Journal Pub Date : 2023-09-01 DOI:10.1080/10406026.2023.2252375

Jared Gilmour

引用次数: 0

Abstract

Abstract This article explores how 45Q in the U.S. tax code incentivized carbon capture, utilization, and storage (CCS, or CCUS) before President Biden signed the 2022 Inflation Reduction Act (IRA) into law. That legislation increased dollar values, added direct pay, and otherwise enhanced 45Q. The article first explains CCS mechanics and then explores 45Q’s history. Next, it lays out which industries (oil, gas, ethanol, etc.) have claimed the credit, and in what contexts (enhanced oil recovery, saline storage, etc.). Finally, it details updates the IRA adopted and weighs proposals to improve regulatory transparency in environmental monitoring, reporting, and verification.

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来源期刊

Environmental Claims Journal Environmental Science-Management, Monitoring, Policy and Law

CiteScore

2.20

自引率

0.00%

发文量

期刊介绍： The Environmental Claims Journal is a quarterly journal that focuses on the many types of claims and liabilities that result from environmental exposures. The ECJ considers environmental claims under older business insurance policies, coverage and claims under more recent environmental insurance policies, as well as toxic tort claims. Exposures and claims from all environmental media are considered: air, drinking water, groundwater, soil, chemicals in commerce and naturally occurring chemicals. The journal also considers the laws, regulations, and case law that form the basis for claims. The journal would be of interest to environmental and insurance attorneys, insurance professionals, claims professionals, and environmental consultants.