H.R.5858 - Combating Climate Change Through Individual Action Act of 2008

To amend the Internal Revenue Code of 1986 to provide incentives for carbon sequestration. view all titles (3)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to provide incentives for carbon sequestration. as introduced.
  • Short: Combating Climate Change Through Individual Action Act of 2008 as introduced.
  • Short: Combating Climate Change Through Individual Action Act of 2008' as introduced.

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Introduced
 
House
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Senate
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President
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04/22/08
 
 
 
 
 
 
 

Official Summary

Combating Climate Change Through Individual Action Act of 2008 - Amends the Internal Revenue Code to allow tax credits for: (1) 30% of carbon sequestration and soil conservation expenditures made by taxpayers engaged in the business of farming; (2) 10% of qualifying planting expenditures, i

Official Summary

Combating Climate Change Through Individual Action Act of 2008 - Amends the Internal Revenue Code to allow tax credits for:
(1) 30% of carbon sequestration and soil conservation expenditures made by taxpayers engaged in the business of farming;
(2) 10% of qualifying planting expenditures, including expenditures for the purchase and planting of any tree, plant, shrub, or bush, and the purchase and installation of a vegetated roof system;
(3) the conversion of cropland to pasture for grazing purposes or to grassland or rangeland; and
(4) certain types of reforestation and afforestation of land.

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