,,ii  #aaeth ,,congress  #ast ,session  
,s4 #affc  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #bg1     
#bjag,mr4 ,hoeven introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to enhance the  
requirements for secure geological      
storage of carbon dioxide for purposes  
of the carbon dioxide sequestration     
credit4  #a4 ,short title ,this ,act may
 be cited as the ,,co#b ,regulatory     
,certainty ,act4  #b4 ,secure geological
 storage of carbon dioxide ,paragraph   
7#b7 of section #de,q7d7 of the         
,internal ,revenue ,code of #aihf is    
amended to read as follows3  7#b7       
,secure geological storage  7,a7 ,in    
general ,not later than ,december #ca1  
#bjag1 the ,secretary1 in consultation  
with the ,administrator of the          
,environmental ,protection ,agency1 the 
,secretary of ,energy1 and the          
,secretary of the ,interior1 shall      

establish regulations for determining   
adequate security measures for the      
geological storage of carbon dioxide    
under paragraph 7#a77;,b7 or 7#b77;,c7  
of subsection 7a7 such that the carbon  
dioxide does not escape into the        
atmosphere4  7,b7 ,requirements ,the    
regulations established pursuant to     
subparagraph 7,a7 shall provide that--  
7i7 for purposes of paragraph 7#a77;,b7 
of subsection 7a71 carbon dioxide shall 
be considered disposed of in secure     
geological storage if such carbon       
dioxide is stored in compliance with    
rules promulgated by the ,environmental 
,protection ,agency under subpart ,,rr  
of part #ih of title #dj1 ,code of      
,federal ,regulations 7as in effect on  
the date of the enactment of this       
paragraph71 under the ,clean ,air ,act  
7#db ,u4,s4,c4 #gdja et seq47 and rules 
under the ,safe ,drinking ,water ,act   
7#db ,u4,s4,c4 #cjj;f et seq47 which are
 applicable to carbon dioxide disposed  
of in secure geological storage and not 

used as a tertiary injectant in a       
qualified enhanced oil or natural gas   
recovery project1 and  7ii7 for purposes
 of paragraph 7#b77;,c7 of subsection   
7a71 carbon dioxide shall be considered 
disposed of in secure geological storage
 if such carbon dioxide is stored in    
compliance with rules promulgated by the
 ,environmental ,protection ,agency     
which are applicable to carbon dioxide  
used as a tertiary injectant in a       
qualified enhanced oil or natural gas   
recovery project under--  7,i7 subpart  
,,uu of part #ih of title #dj1 ,code of 
,federal ,regulations 7as in effect on  
the date of the enactment of this       
paragraph71 under the ,clean ,air ,act1 
and  7,,ii7 subpart ,c of part #adf of  
title #dj1 ,code of ,federal            
,regulations 7as in effect on the date  
of the enactment of this paragraph71    
under the ,safe ,drinking ,water ,act1  
to the extent such rules are applicable 
to ,class ,,ii wells4  4  #c4 ,qualified
 enhanced oil or natural gas recovery   

project ,paragraph 7#d7 of section      
#de,q7d7 of the ,internal ,revenue ,code
 of #aihf is amended-- 7#a7 by striking 
by substituting and inserting           
8determined--  7,a7 by substituting--  1
  7#b7 by striking the period and       
inserting 1 and1 and  7#c7 by inserting 
at the end the following3  7,b7 without 
regard to subparagraph 7,a77iii7        
thereof4  4