Methane Reduction and Economic Growth Act

Hozzl · 2025-03-25T06:08:23Z

Explore the details of House Bill 1881 Methane Reduction and Economic Growth Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/25/2025, 6:08 AM

Summary of Bill HR 1881

Bill 119 HR 1881, also known as the Mine Methane Capture Incentive Credit Act, aims to amend section 45Q of the Internal Revenue Code of 1986. The purpose of this bill is to establish a tax credit for the capture and utilization of methane gas emitted from coal mines.

Methane gas is a potent greenhouse gas that is released during coal mining operations. By capturing and utilizing this methane gas, not only can emissions be reduced, but it can also be used as a valuable energy source. The bill seeks to incentivize coal mines to invest in methane capture technology by providing a tax credit for each ton of methane captured and utilized.

The tax credit provided by this bill would be based on the amount of methane captured and utilized, with a higher credit for methane that is used for energy production. This credit would help offset the costs associated with implementing methane capture technology, making it more financially feasible for coal mines to adopt these practices. Overall, the Mine Methane Capture Incentive Credit Act aims to reduce greenhouse gas emissions from coal mining operations and promote the use of methane as a valuable energy source. By providing a tax credit for methane capture and utilization, this bill encourages coal mines to invest in sustainable practices that benefit both the environment and the economy.

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Current Status of Bill HR 1881

Bill HR 1881 is currently in the status of Bill Introduced since March 5, 2025. Bill HR 1881 was introduced during Congress 119 and was introduced to the House on March 5, 2025. Bill HR 1881's most recent activity was Referred to the House Committee on Ways and Means. as of March 5, 2025

Bipartisan Support of Bill HR 1881

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Policy Area and Potential Impact of Bill HR 1881

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Alternate Title(s) of Bill HR 1881

To amend section 45Q of the Internal Revenue Code of 1986 to establish the mine methane capture incentive credit.To amend section 45Q of the Internal Revenue Code of 1986 to establish the mine methane capture incentive credit.

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