I.R.C. § 45Q(a) General Rule —
For purposes of section 38, the carbon oxide sequestration
credit for any taxable year is an amount equal to the sum of—
I.R.C. § 45Q(a)(1) —
$20 per metric ton of qualified carbon
oxide which is—
I.R.C. § 45Q(a)(1)(A) —
captured by the taxpayer using carbon
capture equipment which is originally placed in service at a qualified
facility before the date of the enactment of the Bipartisan Budget
Act of 2018, and
I.R.C. § 45Q(a)(1)(B) —
disposed of by the taxpayer in secure
geological storage and not used by the taxpayer as described in paragraph
(2)(B),
I.R.C. § 45Q(a)(2) —
$10 per metric ton of qualified carbon
oxide which is—
I.R.C. § 45Q(a)(2)(A) —
captured by the taxpayer using carbon
capture equipment which is originally placed in service at a qualified
facility before the date of the enactment of the Bipartisan Budget
Act of 2018, and
I.R.C. § 45Q(a)(2)(B)
I.R.C. § 45Q(a)(2)(B)(i) —
used by the taxpayer as a tertiary injectant
in a qualified enhanced oil or natural gas recovery project and disposed
of by the taxpayer in secure geological storage, or
I.R.C. § 45Q(a)(2)(B)(ii) —
utilized by the taxpayer in a manner
described in subsection (f)(5),
I.R.C. § 45Q(a)(3) —
the applicable dollar amount (as determined
under subsection (b)(1)) per metric ton of qualified carbon oxide
which is—
I.R.C. § 45Q(a)(3)(A) —
captured by the taxpayer using carbon
capture equipment which is originally placed in service at a qualified
facility on or after the date of the enactment of the Bipartisan Budget
Act of 2018, during the 12-year period beginning on the date the equipment
was originally placed in service, and
I.R.C. § 45Q(a)(3)(B) —
disposed of by the taxpayer in secure
geological storage and not used by the taxpayer as described in paragraph
(4)(B), and
I.R.C. § 45Q(a)(4) —
the applicable dollar amount (as determined
under subsection (b)(1)) per metric ton of qualified carbon oxide
which is—
I.R.C. § 45Q(a)(4)(A) —
captured by the taxpayer using carbon
capture equipment which is originally placed in service at a qualified
facility on or after the date of the enactment of the Bipartisan Budget
Act of 2018, during the 12-year period beginning on the date the equipment
was originally placed in service, and
I.R.C. § 45Q(a)(4)(B)
I.R.C. § 45Q(a)(4)(B)(i) —
used by the taxpayer as a tertiary injectant
in a qualified enhanced oil or natural gas recovery project and disposed
of by the taxpayer in secure geological storage, or
I.R.C. § 45Q(a)(4)(B)(ii) —
utilized by the taxpayer in a manner
described in subsection (f)(5).
I.R.C. § 45Q(b) Applicable Dollar Amount; Additional Equipment; Election
I.R.C. § 45Q(b)(1) Applicable Dollar Amount
I.R.C. § 45Q(b)(1)(A) In General —
The applicable dollar amount shall be an amount equal
to—
I.R.C. § 45Q(b)(1)(A)(i) —
for any taxable year beginning in a calendar
year after 2016 and before 2027—
I.R.C. § 45Q(b)(1)(A)(i)(I) —
for purposes of paragraph (3) of subsection
(a), the dollar amount established by linear interpolation between
$22.66 and $50 for each calendar year during such period, and
I.R.C. § 45Q(b)(1)(A)(i)(II) —
for purposes of paragraph (4) of such
subsection, the dollar amount established by linear interpolation
between $12.83 and $35 for each calendar year during such period,
and
I.R.C. § 45Q(b)(1)(A)(ii) —
for any taxable year beginning in a
calendar year after 2026—
I.R.C. § 45Q(b)(1)(A)(ii)(I) —
for purposes of paragraph (3) of subsection
(a), an amount equal to the product of $50 and the inflation adjustment
factor for such calendar year determined under section 43(b)(3)(B)
for such calendar year, determined by substituting “2025”
for “1990”, and
I.R.C. § 45Q(b)(1)(A)(ii)(II) —
for purposes of paragraph (4) of such
subsection, an amount equal to the product of $35 and the inflation
adjustment factor for such calendar year determined under section
43(b)(3)(B) for such calendar year, determined by substituting “2025”
for “1990”.
I.R.C. § 45Q(b)(1)(B) Rounding —
The applicable dollar amount determined under subparagraph
(A) shall be rounded to the nearest cent.
I.R.C. § 45Q(b)(2) Installation Of Additional Carbon Capture Equipment On Existing
Qualified Facility —
In the case of a qualified facility placed in service
before the date of the enactment of the Bipartisan Budget Act of 2018,
for which additional carbon capture equipment is placed in service
on or after the date of the enactment of such Act, the amount of qualified
carbon oxide which is captured by the taxpayer shall be equal to—
I.R.C. § 45Q(b)(2)(A) —
for purposes of paragraphs (1)(A) and
(2)(A) of subsection (a), the lesser of—
I.R.C. § 45Q(b)(2)(A)(i) —
the total amount of qualified carbon
oxide captured at such facility for the taxable year, or
I.R.C. § 45Q(b)(2)(A)(ii) —
the total amount of the carbon dioxide
capture capacity of the carbon capture equipment in service at such
facility on the day before the date of the enactment of the Bipartisan
Budget Act of 2018, and
I.R.C. § 45Q(b)(2)(B) —
for purposes of paragraphs (3)(A) and
(4)(A) of such subsection, an amount (not less than zero) equal to
the excess of—
I.R.C. § 45Q(b)(2)(B)(i) —
the amount described in clause (i) of
subparagraph (A), over
I.R.C. § 45Q(b)(2)(B)(ii) —
the amount described in clause (ii)
of such subparagraph.
I.R.C. § 45Q(b)(3) Election —
For purposes of determining the carbon oxide sequestration
credit under this section, a taxpayer may elect to have the dollar
amounts applicable under paragraph (1) or (2) of subsection (a) apply
in lieu of the dollar amounts applicable under paragraph (3) or (4)
of such subsection for each metric ton of qualified carbon oxide which
is captured by the taxpayer using carbon capture equipment which is
originally placed in service at a qualified facility on or after the
date of the enactment of the Bipartisan Budget Act of 2018.
I.R.C. § 45Q(c) Qualified Carbon Oxide —
For purposes of this section—
I.R.C. § 45Q(c)(1) In General —
The term “qualified carbon oxide” means—
I.R.C. § 45Q(c)(1)(A) —
any carbon dioxide which—
I.R.C. § 45Q(c)(1)(A)(i) —
is captured from an industrial source
by carbon capture equipment which is originally placed in service
before the date of the enactment of the Bipartisan Budget Act of 2018,
I.R.C. § 45Q(c)(1)(A)(ii) —
would otherwise be released into the
atmosphere as industrial emission of greenhouse gas or lead to such
release, and
I.R.C. § 45Q(c)(1)(A)(iii) —
is measured at the source of capture
and verified at the point of disposal, injection, or utilization,
I.R.C. § 45Q(c)(1)(B) —
any carbon dioxide or other carbon oxide
which—
I.R.C. § 45Q(c)(1)(B)(i) —
is captured from an industrial source
by carbon capture equipment which is originally placed in service
on or after the date of the enactment of the Bipartisan Budget Act
of 2018,
I.R.C. § 45Q(c)(1)(B)(ii) —
would otherwise be released into the
atmosphere as industrial emission of greenhouse gas or lead to such
release, and
I.R.C. § 45Q(c)(1)(B)(iii) —
is measured at the source of capture
and verified at the point of disposal, injection, or utilization,
or
I.R.C. § 45Q(c)(1)(C) —
in the case of a direct air capture facility,
any carbon dioxide which—
I.R.C. § 45Q(c)(1)(C)(i) —
is captured directly from the ambient
air, and
I.R.C. § 45Q(c)(1)(C)(ii) —
is measured at the source of capture
and verified at the point of disposal, injection, or utilization.
I.R.C. § 45Q(c)(2) Recycled Carbon Oxide —
The term “qualified carbon oxide” includes
the initial deposit of captured carbon oxide used as a tertiary injectant.
Such term does not include carbon oxide that is recaptured, recycled,
and re-injected as part of the enhanced oil and natural gas recovery
process.
I.R.C. § 45Q(d) Qualified Facility —
For purposes of this section, the term “qualified
facility” means any industrial facility or direct air capture
facility—
I.R.C. § 45Q(d)(1) —
the construction of which begins before
January 1, 2026, and—
I.R.C. § 45Q(d)(1)(A) —
construction of carbon capture equipment
begins before such date, or
I.R.C. § 45Q(d)(1)(B) —
the original planning and design for
such facility includes installation of carbon capture equipment, and
I.R.C. § 45Q(d)(2) —
which captures—
I.R.C. § 45Q(d)(2)(A) —
in the case of a facility which emits
not more than 500,000 metric tons of carbon oxide into the atmosphere
during the taxable year, not less than 25,000 metric tons of qualified
carbon oxide during the taxable year which is utilized in a manner
described in subsection (f)(5),
I.R.C. § 45Q(d)(2)(B) —
in the case of an electricity generating
facility which is not described in subparagraph (A), not less than
500,000 metric tons of qualified carbon oxide during the taxable year,
or
I.R.C. § 45Q(d)(2)(C) —
in the case of a direct air capture facility
or any facility not described in subparagraph (A) or (B), not less
than 100,000 metric tons of qualified carbon oxide during the taxable
year.
I.R.C. § 45Q(e) Definitions —
For purposes of this section—
I.R.C. § 45Q(e)(1) Direct Air Capture Facility
I.R.C. § 45Q(e)(1)(A) In General —
Subject to subparagraph (B), the term “direct air
capture facility” means any facility which uses carbon capture
equipment to capture carbon dioxide directly from the ambient air.
I.R.C. § 45Q(e)(1)(B) Exception —
The term “direct air capture facility” shall
not include any facility which captures carbon dioxide—
I.R.C. § 45Q(e)(1)(B)(i) —
which is deliberately released from naturally
occurring subsurface springs, or
I.R.C. § 45Q(e)(1)(B)(ii) —
using natural photosynthesis.
I.R.C. § 45Q(e)(2) Qualified Enhanced Oil Or Natural Gas Recovery Project —
The term “qualified enhanced oil or natural gas
recovery project” has the meaning given the term “qualified
enhanced oil recovery project” by section 43(c)(2), by substituting “crude
oil or natural gas” for “crude oil” in subparagraph
(A)(i) thereof.
I.R.C. § 45Q(e)(3) Tertiary Injectant —
The term “tertiary injectant” has the same
meaning as when used within section 193(b)(1).
I.R.C. § 45Q(f) Special Rules
I.R.C. § 45Q(f)(1) Only Qualified Carbon Oxide Captured And Disposed Of Or Used
Within The United States Taken Into Account —
The credit under this section shall apply only with respect
to qualified carbon oxide the capture and disposal, use, or utilization
of which is within—
I.R.C. § 45Q(f)(1)(A) —
the United States (within the meaning
of section 638(1)), or
I.R.C. § 45Q(f)(1)(B) —
a possession of the United States (within
the meaning of section 638(2)).
I.R.C. § 45Q(f)(2) Secure Geological Storage —
The Secretary, in consultation with the Administrator
of the Environmental Protection Agency, the Secretary of Energy, and
the Secretary of the Interior, shall establish regulations for determining
adequate security measures for the geological storage of qualified
carbon oxide under subsection (a) such that the qualified carbon oxide
does not escape into the atmosphere. Such term shall include storage
at deep saline formations, oil and gas reservoirs, and unminable coal
seams under such conditions as the Secretary may determine under such
regulations.
I.R.C. § 45Q(f)(3) Credit Attributable To Taxpayer
I.R.C. § 45Q(f)(3)(A) In General —
Except as provided in subparagraph (B) or in any regulations
prescribed by the Secretary, any credit under this section shall be
attributable to—
I.R.C. § 45Q(f)(3)(A)(i) —
in the case of qualified carbon oxide
captured using carbon capture equipment which is originally placed
in service at a qualified facility before the date of the enactment
of the Bipartisan Budget Act of 2018, the person that captures and
physically or contractually ensures the disposal, utilization, or
use as a tertiary injectant of such qualified carbon oxide, and
I.R.C. § 45Q(f)(3)(A)(ii) —
in the case of qualified carbon oxide
captured using carbon capture equipment which is originally placed
in service at a qualified facility on or after the date of the enactment
of the Bipartisan Budget Act of 2018, the person that owns the carbon
capture equipment and physically or contractually ensures the capture
and disposal, utilization, or use as a tertiary injectant of such
qualified carbon oxide.
I.R.C. § 45Q(f)(3)(B) Election —
If the person described in subparagraph (A) makes an
election under this subparagraph in such time and manner as the Secretary
may prescribe by regulations, the credit under this section—
I.R.C. § 45Q(f)(3)(B)(i) —
shall be allowable to the person that
disposes of the qualified carbon oxide, utilizes the qualified carbon
oxide, or uses the qualified carbon oxide as a tertiary injectant,
and
I.R.C. § 45Q(f)(3)(B)(ii) —
shall not be allowable to the person
described in subparagraph (A).
I.R.C. § 45Q(f)(4) Recapture —
The Secretary shall, by regulations, provide for recapturing
the benefit of any credit allowable under subsection (a) with respect
to any qualified carbon oxide which ceases to be captured, disposed
of, or used as a tertiary injectant in a manner consistent with the
requirements of this section.
I.R.C. § 45Q(f)(5) Utilization Of Qualified Carbon Oxide
I.R.C. § 45Q(f)(5)(A) In General —
For purposes of this section, utilization of qualified
carbon oxide means—
I.R.C. § 45Q(f)(5)(A)(i) —
the fixation of such qualified carbon
oxide through photosynthesis or chemosynthesis, such as through the
growing of algae or bacteria,
I.R.C. § 45Q(f)(5)(A)(ii) —
the chemical conversion of such qualified
carbon oxide to a material or chemical compound in which such qualified
carbon oxide is securely stored, or
I.R.C. § 45Q(f)(5)(A)(iii) —
the use of such qualified carbon oxide
for any other purpose for which a commercial market exists (with the
exception of use as a tertiary injectant in a qualified enhanced oil
or natural gas recovery project), as determined by the Secretary.
I.R.C. § 45Q(f)(5)(B) Measurement
I.R.C. § 45Q(f)(5)(B)(i) In General —
For purposes of determining the amount of qualified carbon
oxide utilized by the taxpayer under paragraph (2)(B)(ii) or (4)(B)(ii)
of subsection (a), such amount shall be equal to the metric tons of
qualified carbon oxide which the taxpayer demonstrates, based upon
an analysis of lifecycle greenhouse gas emissions and subject to such
requirements as the Secretary, in consultation with the Secretary
of Energy and the Administrator of the Environmental Protection Agency,
determines appropriate, were—
I.R.C. § 45Q(f)(5)(B)(i)(I) —
captured and permanently isolated from
the atmosphere, or
I.R.C. § 45Q(f)(5)(B)(i)(II) —
displaced from being emitted into the
atmosphere,
through use of a process described
in subparagraph (A).
I.R.C. § 45Q(f)(5)(B)(ii) Lifecycle Greenhouse Gas Emissions —
For purposes of clause (i), the term “lifecycle
greenhouse gas emissions” has the same meaning given such term
under subparagraph (H) of section 211(o)(1) of the Clean Air Act (42 U.S.C. 7545(o)(1)), as in effect
on the date of the enactment of the Bipartisan Budget Act of 2018,
except that “product” shall be substituted for “fuel”
each place it appears in such subparagraph.
I.R.C. § 45Q(f)(6) Election For Applicable Facilities
I.R.C. § 45Q(f)(6)(A) In General —
For purposes of this section, in the case of an applicable
facility, for any taxable year in which such facility captures not
less than 500,000 metric tons of qualified carbon oxide during the
taxable year, the person described in paragraph (3)(A)(ii) may elect
to have such facility, and any carbon capture equipment placed in
service at such facility, deemed as having been placed in service
on the date of the enactment of the Bipartisan Budget Act of 2018.
I.R.C. § 45Q(f)(6)(B) Applicable Facility —
For purposes of this paragraph, the term “applicable
facility” means a qualified facility—
I.R.C. § 45Q(f)(6)(B)(i) —
which was placed in service before the
date of the enactment of the Bipartisan Budget Act of 2018, and
I.R.C. § 45Q(f)(6)(B)(ii) —
for which no taxpayer claimed a credit
under this section in regards to such facility for any taxable year
ending before the date of the enactment of such Act.
I.R.C. § 45Q(f)(7) Inflation Adjustment —
In the case of any taxable year beginning in a calendar
year after 2009, there shall be substituted for each dollar amount
contained in paragraphs (1) and (2) of subsection (a) an amount equal
to the product of—
I.R.C. § 45Q(f)(7)(A) —
such dollar amount, multiplied by
I.R.C. § 45Q(f)(7)(B) —
the inflation adjustment factor for such
calendar year determined under section 43(b)(3)(B) for such calendar
year, determined by substituting “2008” for “1990”.
I.R.C. § 45Q(f)(3) Credit Reduced for Certain Tax-Exempt Bonds —
1
1 So in original. Should probably
be (8).
The amount of the credit determined
under subsection (a) with respect to any project for any taxable year
shall be reduced by the amount which is the product of the amount
so determined for such year and the lesser of ½ or a fraction—
I.R.C. § 45Q(f)(3)(A) —
the numerator of which is the sum, for
the taxable year and all prior taxable years, of the proceeds from
an issue described in section 142(a)(17) used to provide financing
for the project the interest on which is exempt from tax under section
103, and
I.R.C. § 45Q(f)(3)(B) —
the denominator of which is the aggregate
amount of additions to the capital account for the project for the
taxable year and all prior taxable years.
The amounts under the preceding sentence
for any taxable year shall be determined as of the close of the taxable
year.
I.R.C. § 45Q(g) Application Of Section For Certain Carbon Capture Equipment —
In the case of any carbon capture equipment placed in
service before the date of the enactment of the Bipartisan Budget
Act of 2018, the credit under this section shall apply with respect
to qualified carbon oxide captured using such equipment before the
end of the calendar year in which the Secretary, in consultation with
the Administrator of the Environmental Protection Agency, certifies
that, during the period beginning after October 3, 2008, a total of
75,000,000 metric tons of qualified carbon oxide have been taken into
account in accordance with—
I.R.C. § 45Q(g)(1) —
subsection (a) of this section, as in
effect on the day before the date of the enactment of the Bipartisan
Budget Act of 2018, and
I.R.C. § 45Q(g)(2) —
paragraphs (1) and (2) of subsection
(a) of this section.
I.R.C. § 45Q(h) Regulations —
The Secretary may prescribe such regulations and other
guidance as may be necessary or appropriate to carry out this section,
including regulations or other guidance to—
I.R.C. § 45Q(h)(1) —
ensure proper allocation under subsection
(a) for qualified carbon oxide captured by a taxpayer during the taxable
year ending after the date of the enactment of the Bipartisan Budget
Act of 2018, and
I.R.C. § 45Q(h)(2) —
determine whether a facility satisfies
the requirements under subsection (d)(1) during such taxable year.
(Added by Pub. L. 110-343, div. B, title I,
Sec. 115(a), Oct. 3, 2008, 122 Stat. 3765; and amended by Pub. L. 111–5, div. B, title
I, Sec. 1131, Feb. 17, 2009, 123 Stat. 115; Pub. L. 113-295, Div. A, title II,
Sec. 209(j)(1), Dec. 19, 2014, 128 Stat. 4010; Pub.
L. 115-123, Div. D, title II, Sec. 41119(a), Feb. 9, 2018,
132 Stat. 64; Pub. L. 116-260,
Div. EE, title I, Sec. 121, Dec. 27, 2020, 134 Stat. 1182; Pub. L. 117-58, Div. H, title IV, Sec. 80402(e),
Nov. 21, 2021, 135 Stat. 429.)
BACKGROUND NOTES
AMENDMENTS
2021 - Subsec. (f)(3). Pub. L. 117-58, Sec. 80402(e),
amended subsec. (f) by adding new par. (3).
2020 - Subsec. (d)(1). Pub. L. 116-260, Sec. 121, amended par.
(1) by substituting “January 1, 2026” for “January
1, 2024”.
2018 - Sec. 45Q. Pub. L. 115-123, Sec. 41119(a),
amended Sec. 45Q. Before amendment, it read as follows:
“Sec. 45Q. Credit for Carbon Dioxide Sequestration
“(a) General Rule—For purposes of section
38, the carbon dioxide sequestration credit for any taxable year is
an amount equal to the sum of—
“(1) $20 per metric ton of qualified carbon
dioxide which is—
“(A) captured by the taxpayer at a qualified
facility, and
“(B) disposed of by the taxpayer in secure
geological storage and not used by the taxpayer as described in paragraph
(2)(B), and
“(2) $10 per metric ton of qualified carbon
dioxide which is—
“(A) captured by the taxpayer at a qualified
facility,
“(B) used by the taxpayer as a tertiary injectant
in a qualified enhanced oil or natural gas recovery project, and
“(C) disposed of by the taxpayer in secure
geological storage.
“(b) Recycled Carbon Dioxide—The term “qualified
carbon dioxide” includes the initial deposit of captured carbon
dioxide used as a tertiary injectant. Such term does not include carbon
dioxide that is re-captured, recycled, and re-injected as part of
the enhanced oil and natural gas recovery process.
“(c) Qualified Facility—For purposes
of this section, the term “qualified facility” means any
industrial facility—
“(1) which is owned by the taxpayer,
“(2) at which carbon capture equipment is
placed in service, and
“(3) which captures not less than 500,000
metric tons of carbon dioxide during the taxable year.
“(d) Special Rules and Other Definitions—For
purposes of this section—
“(1) Only Carbon Dioxide Captured and Disposed
of or Used Within the United States Taken Into Account—The credit
under this section shall apply only with respect to qualified carbon
dioxide the capture and disposal or use of which is within—
“(A) the United States (within the meaning
of section 638(1)), or
“(B) a possession of the United States (within
the meaning of section 638(2)).
“(2) The Secretary, in consultation with
the Administrator of the Environmental Protection Agency, the Secretary
of Energy, and the Secretary of the Interior, shall establish regulations
for determining adequate security measures for the geological storage
of carbon dioxide under paragraph (1)(B) or (2)(C) of subsection (a)
such that the carbon dioxide does not escape into the atmosphere.
Such term shall include storage at deep saline formations, oil and
gas reservoirs, and unminable coal seems under such conditions as
the Secretary may determine under such regulations.
“(3) The term “tertiary injectant”
has the same meaning as when used within section 193(b)(1).
“(4) The term “qualified enhanced oil
or natural gas recovery project” has the meaning given the term “qualified
enhanced oil recovery project” by section 43(c)(2), by substituting “crude
oil or natural gas” for “crude oil” in subparagraph
(A)(i) thereof.
“(5) Any credit under this section shall
be attributable to the person that captures and physically or contractually
ensures the disposal of or the use as a tertiary injectant of the
qualified carbon dioxide, except to the extent provided in regulations
prescribed by the Secretary.
“(6) The Secretary shall, by regulations,
provide for recapturing the benefit of any credit allowable under
subsection (a) with respect to any qualified carbon dioxide which
ceases to be captured, disposed of, or used as a tertiary injectant
in a manner consistent with the requirements of this section.
“(7) In the case of any taxable year beginning
in a calendar year after 2009, there shall be substituted for each
dollar amount contained in subsection (a) an amount equal to the product
of—
“(A) such dollar amount, multiplied by
“(B) the inflation adjustment factor for
such calendar year determined under section 43(b)(3)(B) for such calendar
year, determined by substituting “2008” for “1990”.
“(e) The credit under this section shall
apply with respect to qualified carbon dioxide before the end of the
calendar year in which the Secretary, in consultation with the Administrator
of the Environmental Protection Agency, certifies that 75,000,000
metric tons of qualified carbon dioxide have been taken into account
in accordance with subsection (a).
2014 -
Subsec. (d)(2). Pub. L. 113-295,
Div. A, Sec. 209(j)(1), amended par. (2) by substituting “Administrator
of the Environmental Protection Agency, the Secretary of Energy, and
the Secretary of the Interior, shall establish” for “Administrator
of the Environmental Protection Agency, the Secretary of Energy, and
the Secretary of the Interior, shall establish”.
2009 -
Subsec. (a)(1)(B). Pub. L. 111–5,
div. B, Sec. 1131(b)(2), amended subpar. (B) by inserting “and
not used by the taxpayer as described in paragraph (2)(B)” after “storage”.
Subsec. (a)(2)(A)-(C). Pub. L. 111–5, div. B, Sec.
1131(a), amended par. (2) by striking “and” at the end
of subpar. (A), by substituting “, and” for ther period
at the end of subpar. (B), and by adding subpar. (C).
Subsec. (d)(2). Pub. L. 111–5, div. B, Sec.
1131(b)(1), amended par. (2) by substituting “paragraph (1)(B)
or (2)(C) of subsection (a)” for “subsection (a)(1)(B)”;
by substituting “, oil and gas reservoirs, and unminable coal
seams” for “and unminable coal seems”; and by inserting “the
Secretary of Energy and the Secretary of the Interior,” after “Environmental
Protection Agency”.
Subsec. (e). Pub. L. 111–5, div. B, Sec.
1131(b)(3), amended subsec. (e) by substituting “taken into
account in accordance with subsection (a)” for “captured
and disposed of or used as a tertiary injectant”.
EFFECTIVE DATE OF 2021 AMENDMENT
Amendment by Pub.
L. 117-58, Sec. 80402(e), effective for obligations issued
after December 31, 2021.
EFFECTIVE DATE OF 2020 AMENDMENT
Amendment by Pub. L.
116-260, Sec. 121, effective on the date of the enactment
of this Act [Enacted: Dec.27, 2020].
EFFECTIVE DATE OF 2018
AMENDMENT
Amendment by Pub. L. 115-123, Sec. 41119(a),
effective for taxable years beginning after December 31, 2017.
EFFECTIVE DATE OF 2014
AMENDMENT
Amendment by Pub. L. 113-295, Div. A, Sec. 209(j)(1),
effective as if included in the provisions of the American Recovery
and Reinvestment Tax Act of 2009 ]Pub.
L. 111-5, Sec. 1131] to which they relates [Effective
for carbon dioxide captured after Feb. 17, 2009].
EFFECTIVE
DATE OF 2009 AMENDMENTS
Amendments
by Sec. 1131 of Pub. L. 111–5,
div. B, effective for carbon dioxide captured after the date of the
enactment of this Act [Enacted: Feb. 17, 2009].
EFFECTIVE DATE
Effective for carbon dioxide
captured after the date of the enactment of this Act [Enacted: Oct.
3, 2008].
