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After a Year, IRS Starts Carbon-Capture Tax Credit Rules (1)

May 2, 2019, 7:20 PMUpdated: May 2, 2019, 10:21 PM

Federal tax regulators have started in earnest to craft rules to implement a major bipartisan tax incentive for carbon-capture technologies.

The Internal Revenue Service released May 2 a long-awaited notice seeking input on how it should oversee the “45Q” tax credits for carbon capture technology.

Congress extended and expanded those tax incentives in a bipartisan budget bill in February 2018, but companies and investors have been hesitant to commit dollars to new projects without knowing how to claim the credits.

Carbon capture separates the greenhouse gas carbon dioxide from emissions of power plants and other industrial facilities to ...