White House Gave IRS More Power in Carbon Capture Rule Changes

The White House review of proposed rules for an expanded credit for capturing and storing carbon dioxide resulted in changes that give the IRS more time to take back the credits in case of carbon leaks.

Officials changed the “recapture” period to five years while the rules were under review, an increase from the three years proposed in the initial draft submitted to the office on March 13 and obtained by Bloomberg Tax. This increases the financial risk for investors in these projects, as they’re generally the ones reaping the ...