,,ii  #aae? ,,congress  #a/ ,session    
,s4 #bbef  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #bj1 #bjag    
,mr4 ,hat* 7= himself1 ,mr4 ,grassley1  
,mr4 ,crapo1 ,mr4 ,rob]ts1 ,mr4 ,?une1 &
 ,mr4 ,isakson7 introduc$ ! foll[+ bill2
 :i* 0 read twice & ref]r$ to !         
,committee on ,f9ance  ,a ,,bill  ,to   
am5d ! ,int]nal ,rev5ue ,code ( #aihf to
 ext5d expir+ provisions1 & = o!r       
purposes4  #a4 ,%ort title1 etc  7a7    
,%ort title ,?is ,act may be cit$ z !   
,tax ,ext5d] ,act ( #bjag4  7b7 ,am5dm5t
 ( #aihf ,code ,except z o!rwise        
expressly provid$1 :5ev] 9 ?is ,act an  
am5dm5t or repeal is express$ 9 t]ms (  
an am5dm5t to1 or repeal (1 a section or
 o!r provision1 ! ref]5ce %all be       
consid]$ to be made to a section or o!r 
provision ( ! ,int]nal ,rev5ue ,code (  
#aihf4  ,i ,tax relief = families &     
individuals  #aja4 ,ext5sion ( exclusion
 f gross income ( dis*>ge ( qualifi$    
pr9cipal resid5ce indebt$ness  7a7 ,9   
g5]al ,section #ajh7;a77#a77;,e7 is     

am5d$ by /rik+ ,janu>y #a1 #bjag ea*    
place x appe>s & ins]t+ ,janu>y #a1     
#bjai4  7b7 ,effective date ,! am5dm5ts 
made by ?is section %all apply to       
dis*>ges ( indebt$ness aft] ,decemb]    
#ca1 #bjaf4  #ajb4 ,ext5sion ( mortgage 
insurance premiums treat$ z qualifi$    
resid5ce int]e/  7a7 ,9 g5]al ,subclause
 7,i7 ( section #afc7;h77#c77;,e77iv7 is
 am5d$ by /rik+ ,decemb] #ca1 #bjaf &   
ins]t+ ,decemb] #ca1 #bjah4  7b7        
,effective date ,! am5dm5t made by ?is  
section %all apply to am\nts paid or    
accru$ aft] ,decemb] #ca1 #bjaf4  #ajc4 
,ext5sion ( above-!-l9e d$uction =      
qualifi$ tuition & relat$ exp5ses  7a7  
,9 g5]al ,section #bbb7;e7 is am5d$ by  
/rik+ ,decemb] #ca1 #bjaf & ins]t+      
,decemb] #ca1 #bjah4  7b7 ,effective    
date ,! am5dm5t made by ?is section %all
 apply to taxable ye>s beg9n+ aft]      
,decemb] #ca1 #bjaf4  ,,ii ,inc5tives = 
gr[?1 jobs1 inve/m5t1 & innovation      
#bja4 ,ext5sion ( ,indian employm5t tax 
cr$it  7a7 ,9 g5]al ,section #de;,a7f7  

is am5d$ by /rik+ ,decemb] #ca1 #bjaf & 
ins]t+ ,decemb] #ca1 #bjah4  7b7        
,effective date ,! am5dm5t made by ?is  
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjaf4  #bjb4 
,ext5sion ( railroad track ma9t5ance    
cr$it  7a7 ,9 g5]al ,section #de;,g7f7  
is am5d$ by /rik+ ,janu>y #a1 #bjag &   
ins]t+ ,janu>y #a1 #bjai4  7b7          
,effective date ,! am5dm5t made by ?is  
section %all apply to exp5ditures paid  
or incurr$ 9 taxable ye>s beg9n+ aft]   
,decemb] #ca1 #bjaf4  #bjc4 ,ext5sion ( 
m9e rescue team tra9+ cr$it  7a7 ,9     
g5]al ,section #de,n7e7 is am5d$ by     
/rik+ ,decemb] #ca1 #bjaf & ins]t+      
,decemb] #ca1 #bjah4  7b7 ,effective    
date ,! am5dm5t made by ?is section %all
 apply to taxable ye>s beg9n+ aft]      
,decemb] #ca1 #bjaf4  #bjd4 ,ext5sion ( 
qualifi$ zone academy bonds  7a7 ,9     
g5]al ,section #ed;,e7c77#a7 is am5d$ by
 /rik+ & #bjaf & ins]t+ #bjaf1 & #bjag4 
7b7 ,effective date ,! am5dm5t made by  
?is section %all apply to obligations   

issu$ aft] ,decemb] #ca1 #bjaf4  #bje4  
,ext5sion ( classification ( c]ta9 race 
horses z #c-ye> prop]ty  7a7 ,9 g5]al   
,section #afh7;e77#c77;,a77i7 is am5d$--
 7#a7 by /rik+ ,janu>y #a1 #bjag 9      
subclause 7,i7 & ins]t+ ,janu>y #a1     
#bjai1 &  7#b7 by /rik+ ,decemb] #ca1   
#bjaf 9 subclause 7,,ii7 & ins]t+       
,decemb] #ca1 #bjah4  7b7 ,effective    
date ,! am5dm5ts made by ?is section    
%all apply to prop]ty plac$ 9 s]vice    
aft] ,decemb] #ca1 #bjaf4  #bjf4        
,ext5sion ( #g-ye> recov]y p]iod =      
motorsports ent]ta9m5t complexes  7a7 ,9
 g5]al ,section #afh7;i77#ae77;,d7 is   
am5d$ by /rik+ ,decemb] #ca1 #bjaf &    
ins]t+ ,decemb] #ca1 #bjah4  7b7        
,effective date ,! am5dm5t made by ?is  
section %all apply to prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjaf4  #bjg4 
,ext5sion ( accel]at$ depreciation =    
bus9ess prop]ty on an ,indian res]vation
  7a7 ,9 g5]al ,section #afh7;j77#i7 is 
am5d$ by /rik+ ,decemb] #ca1 #bjaf &    
ins]t+ ,decemb] #ca1 #bjah4  7b7        

,effective date ,! am5dm5t made by ?is  
section %all apply to prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjaf4  #bjh4 
,ext5sion ( election to exp5se m9e      
safety equipm5t  7a7 ,9 g5]al ,section  
#agi;,e7g7 is am5d$ by /rik+ ,decemb]   
#ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4
  7b7 ,effective date ,! am5dm5t made by
 ?is section %all apply to prop]ty plac$
 9 s]vice aft] ,decemb] #ca1 #bjaf4     
#bji4 ,ext5sion ( special exp5s+ rules =
 c]ta9 productions  7a7 ,9 g5]al        
,section #aha7;g7 is am5d$ by /rik+     
,decemb] #ca1 #bjaf & ins]t+ ,decemb]   
#ca1 #bjag4  7b7 ,effective date ,!     
am5dm5t made by ?is section %all apply  
to productions comm5c+ aft] ,decemb]    
#ca1 #bjaf4  #baj4 ,ext5sion ( d$uction 
all[able ) respect to income            
attributable to dome/ic production      
activities 9 ,pu]to ,rico  7a7 ,9 g5]al 
,section #aii7;d77#h77;,c7 is am5d$--   
7#a7 by /rik+ fir/ #aa taxable ye>s &   
ins]t+ fir/ #ab taxable ye>s1 &  7#b7 by
 /rik+ ,janu>y #a1 #bjag & ins]t+       

,janu>y #a1 #bjah4  7b7 ,effective date 
,! am5dm5ts made by ?is section %all    
apply to taxable ye>s beg9n+ aft]       
,decemb] #ca1 #bjaf4  #baa4 ,ext5sion ( 
special rule relat+ to qualifi$ timb]   
ga9  7a7 ,9 g5]al ,section #abja7;b7 is 
am5d$ by /rik+ #bjaf & ins]t+ #bjaf or  
#bjag4  7b7 ,effective date ,! am5dm5t  
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjaf4  #bab4 ,ext5sion ( emp[]m5t zone 
tax inc5tives  7a7 ,9 g5]al  7#a7       
,ext5sion ,section #acia7;d77#a77;,a77i7
 is am5d$ by /rik+ ,decemb] #ca1 #bjaf &
 ins]t+ ,decemb] #ca1 #bjah4  7#b7      
,treatm5t ( c]ta9 t]m9ation dates       
specifi$ 9 nom9ations ,9 ! case ( a     
designation ( an emp[]m5t zone !        
nom9ation = :i* includ$ a t]m9ation date
 :i* is contemporane\s ) ! date specifi$
 9 subp>agraph 7,a77i7 ( section        
#acia7;d77#a7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf 7z 9 effect be=e ! enactm5t (  
?is ,act71 subp>agraph 7,b7 ( su*       
section %all n apply ) respect to su*   

designation if1 aft] ! date ( ! enactm5t
 ( ?is section1 ! entity :i* made su*   
nom9ation am5ds ! nom9ation to provide =
 a new t]m9ation date 9 su* mann] z !   
,secret>y ( ! ,treasury 7or !           
,secret>y's designee7 may provide4  7b7 
,effective date  ,! am5dm5t made by     
subsection 7a77#a7 %all apply to taxable
 ye>s beg9n+ aft] ,decemb] #ca1 #bjaf4  
#bac4 ,ext5sion ( tempor>y increase 9   
limit on cov] ov] ( rum excise taxes to 
,pu]to ,rico & ! ,virg9 ,isl&s  7a7 ,9  
g5]al ,section #gfeb7;f77#a7 is am5d$ by
 /rik+ ,janu>y #a1 #bjag & ins]t+       
,janu>y #a1 #bjai4  7b7 ,effective date 
,! am5dm5t made by ?is section %all     
apply to di/ill$ spirits br\ght into !  
,unit$ ,/ates aft] ,decemb] #ca1 #bjaf4 
#bad4 ,ext5sion ( ,am]ican ,samoa       
economic developm5t cr$it  7a7 ,9 g5]al 
,section #aai7;d7 ( division ,a ( ! ,tax
 ,relief & ,heal? ,c>e ,act ( #bjjf is  
am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjag 
ea* place x appe>s & ins]t+ ,janu>y #a1 
#bjah1  7#b7 by /rik+ fir/ #aa taxable  

ye>s 9 p>agraph 7#a7 & ins]t+ fir/ #ab  
taxable ye>s1 &  7#c7 by /rik+ fir/ #e  
taxable ye>s 9 p>agraph 7#b7 & ins]t+   
fir/ #f taxable ye>s4  7b7 ,effective   
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft]  
,decemb] #ca1 #bjaf4  ,,iii ,inc5tives =
 en]gy production & cons]vation  #cja4  
,ext5sion ( cr$it = nonbus9ess en]gy    
prop]ty  7a7 ,9 g5]al ,section          
#be;,c7g77#b7 is am5d$ by /rik+ ,decemb]
 #ca1 #bjaf & ins]t+ ,decemb] #ca1      
#bjah4  7b7 ,effective date  ,! am5dm5t 
made by ?is section %all apply to       
prop]ty plac$ 9 s]vice aft] ,decemb]    
#ca1 #bjaf4  #cjb4 ,ext5sion &          
modification ( cr$it = resid5tial en]gy 
prop]ty  7a7 ,9 g5]al ,section #be;,d7h7
 is am5d$ by /rik+ ,decemb] #ca1 #bjaf &
 all t foll[s & ins]t+ ,decemb] #ca1    
#bjba44  7b7 ,phase\t  7#a7 ,9 g5]al    
,section #be;,d7a7 is am5d$ by /rik+ !  
sum (-- & all t foll[s & ins]t+ 8! sum (
 ! applicable p]c5tages (--  7#a7 !     
qualifi$ sol> electric prop]ty          

exp5ditures1  7#b7 ! qualifi$ sol> wat] 
heat+ prop]ty exp5ditures1  7#c7 !      
qualifi$ fuel cell prop]ty exp5ditures1 
7#d7 ! qualifi$ small w9d en]gy prop]ty 
exp5ditures1 &  7#e7 ! qualifi$ geo!rmal
 heat pump prop]ty exp5ditures1 made by 
! taxpay] dur+ su* ye>4 4  7#b7 ,con=m+ 
am5dm5t ,section #be;,d7g7 is am5d$ by  
/rik+ p>agraphs 7#a7 & 7#b7 (4  7c7     
,effective date ,! am5dm5t made by ?is  
section %all apply to prop]ty plac$ 9   
s]vice aft] ,decemb] #ca1 #bjaf4  #cjc4 
,ext5sion ( cr$it = new qualifi$ fuel   
cell motor vehicles  7a7 ,9 g5]al       
,section #cj;,b7k77#a7 is am5d$ by /rik+
 ,decemb] #ca1 #bjaf & ins]t+ ,decemb]  
#ca1 #bjah4  7b7 ,effective date ,!     
am5dm5t made by ?is section %all apply  
to prop]ty pur*as$ aft] ,decemb] #ca1   
#bjaf4  #cjd4 ,ext5sion ( cr$it =       
alt]native fuel vehicle refuel+ prop]ty 
7a7 ,9 g5]al ,section #cj;,c7g7 is am5d$
 by /rik+ ,decemb] #ca1 #bjaf & ins]t+  
,decemb] #ca1 #bjah4  7b7 ,effective    
date ,! am5dm5t made by ?is section %all

 apply to prop]ty plac$ 9 s]vice aft]   
,decemb] #ca1 #bjaf4  #cje4 ,ext5sion ( 
cr$it = #b-:eel$ plug-9 electric        
vehicles  7a7 ,9 g5]al ,section         
#cj;,d7g77#c77;,e77ii7 is am5d$ by /rik+
 ,janu>y #a1 #bjag & ins]t+ ,janu>y #a1 
#bjai4  7b7 ,effective date ,! am5dm5t  
made by ?is section %all apply to       
vehicles acquir$ aft] ,decemb] #ca1     
#bjaf4  #cjf4 ,ext5sion ( second        
g5]ation bi(uel produc] cr$it  7a7 ,9   
g5]al ,section #dj7;b77#f77;,j77i7 is   
am5d$ by /rik+ ,janu>y #a1 #bjag &      
ins]t+ ,janu>y #a1 #bjai4  7b7          
,effective date ,! am5dm5t made by ?is  
section %all apply to qualifi$ second   
g5]ation bi(uel production aft] ,decemb]
 #ca1 #bjaf4  #cjg4 ,ext5sion (         
biodiesel & r5ewable diesel inc5tives   
7a7 ,income tax cr$it  7#a7 ,9 g5]al    
,subsection 7g7 ( section #dj;,a is     
am5d$ by /rik+ ,decemb] #ca1 #bjaf &    
ins]t+ ,decemb] #ca1 #bjah4  7#b7       
,effective date ,! am5dm5t made by ?is  
subsection %all apply to fuel sold or   

us$ aft] ,decemb] #ca1 #bjaf4  7b7      
,excise tax inc5tives  7#a7 ,9 g5]al    
,section #fdbf7;c77#f7 is am5d$ by /rik+
 ,decemb] #ca1 #bjaf & ins]t+ ,decemb]  
#ca1 #bjah4  7#b7 ,paym5ts ,section     
#fdbg7;e77#f77;,b7 is am5d$ by /rik+    
,decemb] #ca1 #bjaf & ins]t+ ,decemb]   
#ca1 #bjah4  7#c7 ,effective date ,!    
am5dm5ts made by ?is subsection %all    
apply to fuel sold or us$ aft] ,decemb] 
#ca1 #bjaf4  7#d7 ,special rule = #bjag 
,not)/&+ any o!r provision ( law1 9 !   
case ( any biodiesel mixture cr$it      
prop]ly det]m9$ "u section #fdbf7;c7 ( !
 ,int]nal ,rev5ue ,code ( #aihf = !     
p]iod beg9n+ on ,janu>y #a1 #bjag1 &    
end+ on ,decemb] #ca1 #bjag1 su* cr$it  
%all be all[$1 & any refund or paym5t   
attributable to su* cr$it 7includ+ any  
paym5t "u section #fdbg7;e7 ( su* ,code7
 %all be made1 only 9 su* mann] z !     
,secret>y ( ! ,treasury 7or !           
,secret>y's delegate7 %all provide4 ,su*
 ,secret>y %all issue guidance )9 #cj   
days aft] ! date ( ! enactm5t ( ?is ,act

 provid+ = a "o-"t submission ( claims  
cov]+ p]iods describ$ 9 ! prec$+ s5t5ce4
 ,su* guidance %all provide = a         
#ahj-;day p]iod = ! submission ( su*    
claims 79 su* mann] z prescrib$ by su*  
,secret>y7 to beg9 n lat] ?an #cj days  
aft] su* guidance is issu$4 ,su* claims 
%all be paid by su* ,secret>y n lat] ?an
 #fj days aft] receipt4 ,if su*         
,secret>y has n paid pursuant to a claim
 fil$ "u ?is subsection )9 #fj days aft]
 ! date ( ! fil+ ( su* claim1 ! claim   
%all be paid ) int]e/ f su* date det]m9$
 by us+ ! ov]paym5t rate & me?od "u     
section #ffba ( su* ,code4  #cjh4       
,ext5sion ( production cr$it = ,indian  
coal facilities  7a7 ,9 g5]al ,section  
#de7;e77#aj77;,a7 is am5d$ by /rik+     
#aa-ye> p]iod ea* place x appe>s &      
ins]t+ #ac-ye> p]iod4  7b7 ,effective   
date ,! am5dm5t made by ?is section %all
 apply to coal produc$ aft] ,decemb]    
#ca1 #bjaf4  #cji4 ,ext5sion ( cr$its ) 
respect to facilities produc+ en]gy f   
c]ta9 r5ewable res\rces  7a7 ,9 g5]al ,!

 foll[+ provisions ( section #de7;d7 are
 ea* am5d$ by /rik+ ,janu>y #a1 #bjag   
ea* place x appe>s & ins]t+ ,janu>y #a1 
#bjai3 7#a7 ,p>agraph 7#b77;,a74  7#b7  
,p>agraph 7#c77;,a74  7#c7 ,p>agraph    
7#d77;,b74  7#d7 ,p>agraph 7#f74  7#e7  
,p>agraph 7#g74  7#f7 ,p>agraph 7#i74   
7#g7 ,p>agraph 7#aa77;,b74  7b7         
,ext5sion ( election ,to treat qualifi$ 
facilities z en]gy prop]ty ,section     
#dh7;a77#e77;,c77ii7 is am5d$ by /rik+  
,janu>y #a1 #bjag & ins]t+ ,janu>y #a1  
#bjai4  7c7 ,effective date ,! am5dm5ts 
made by ?is section %all take effect on 
,janu>y #a1 #bjag4  #caj4 ,ext5sion (   
cr$it = en]gy-effici5t new homes  7a7 ,9
 g5]al ,section #de,l7g7 is am5d$ by    
/rik+ ,decemb] #ca1 #bjaf & ins]t+      
,decemb] #ca1 #bjah4  7b7 ,effective    
date ,! am5dm5t made by ?is section %all
 apply to homes acquir$ aft] ,decemb]   
#ca1 #bjaf4  #caa4 ,ext5sion & phase\t (
 en]gy cr$it  7a7 ,cr$it p]c5tage =     
geo!rmal en]gy prop]ty ,section         
#dh7;a77#b77;,a77i77,,ii7 is am5d$ by   

/rik+ p>agraph 7#c77;,a77i7 & ins]t+    
clause 7i7 or 7iii7 ( p>agraph          
7#c77;,a74  7b7 ,ext5sion ( sol> & !rmal
 en]gy prop]ty ,section #dh7;a77#c77;,a7
 is am5d$-- 7#a7 by /rik+ p]iods end+   
be=e ,janu>y #a1 #bjag 9 clause 7ii7 &  
ins]t+ prop]ty ! con/ruction ( :i* beg9s
 be=e ,janu>y #a1 #bjbb1 &  7#b7 by     
/rik+ p]iods end+ be=e ,janu>y #a1 #bjag
 9 clause 7vii7 & ins]t+ prop]ty !      
con/ruction ( :i* beg9s be=e ,janu>y #a1
 #bjbb4  7c7 ,phase\t ( #cj-,p]c5t cr$it
 rate = geo!rmal en]gy prop]ty ,section 
#dh7;a77#f7 is am5d$--  7#a7 by ins]t+ &
 geo!rmal aft] sol> 9 ! head+1  7#b7 by 
/rik+ p>agraph 7#c77;,a77i7 9           
subp>agraph 7,a7 & ins]t+ clause 7i7 or 
7iii7 ( p>agraph 7#c77;,a71 &  7#c7 by  
/rik+ prop]ty en]gy prop]ty describ$ 9  
p>agraph 7#c77;,a77i7 9 subp>agraph 7,b7
 & ins]t+ en]gy prop]ty describ$ 9      
clause 7i7 or 7iii7 ( p>agraph          
7#c77;,a74  7d7 ,phase\t ( #cj-,p]c5t   
cr$it rate = fib]-,optic sol>1 qualifi$ 
fuel cell1 & qualifi$ small w9d en]gy   

prop]ty  7#a7 ,9 g5]al ,section #dh7;a7 
is am5d$ by add+ at ! end ! foll[+ new  
p>agraph3  7#g7 ,phase\t = fib]-optic   
sol>1 qualifi$ fuel cell1 & qualifi$    
small w9d en]gy prop]ty  7,a7 ,9 g5]al  
,9 ! case ( any qualifi$ fuel cell      
prop]ty1 qualifi$ small w9d prop]ty1 or 
en]gy prop]ty describ$ 9 p>agraph       
7#c77;,a77ii71 ! en]gy p]c5tage det]m9$ 
"u p>agraph 7#b7 %all be equal to--  7i7
 9 ! case ( any prop]ty ! con/ruction ( 
:i* beg9s aft] ,decemb] #ca1 #bjai1 &   
be=e ,janu>y #a1 #bjba1 #bf p]c5t1 &    
7ii7 9 ! case ( any prop]ty !           
con/ruction ( :i* beg9s aft] ,decemb]   
#ca1 #bjbj1 & be=e ,janu>y #a1 #bjbb1   
#bb p]c5t4  7,b7 ,plac$ 9 s]vice deadl9e
 ,9 ! case ( any en]gy prop]ty describ$ 
9 subp>agraph 7,a7 :i* is n plac$ 9     
s]vice be=e ,janu>y #a1 #bjbd1 ! en]gy  
p]c5tage det]m9$ "u p>agraph 7#b7 %all  
be equal to #j p]c5t4  4  7#b7 ,con=m+  
am5dm5t ,section #dh7;a77#b77;,a7 is    
am5d$ by /rik+ p>agraph 7#f7 & ins]t+   
p>agraphs 7#f7 & 7#g74  7#c7            

,cl>ification relat+ to phase\t = w9d   
facilities ,section #dh7;a77#e77;,e7 is 
am5d$ by ins]t+ :i* is treat$ z en]gy   
prop]ty by reason ( ?is p>agraph aft]   
us+ w9d to produce electricity4  7e7    
,ext5sion ( qualifi$ fuel cell prop]ty  
,section #dh7;c77#a77;,d7 is am5d$ by   
/rik+ = any p]iod aft] ,decemb] #ca1    
#bjaf & ins]t+ ! con/ruction ( :i* does 
n beg9 be=e ,janu>y #a1 #bjbb4  7f7     
,ext5sion ( qualifi$ microturb9e prop]ty
 ,section #dh7;c77#b77;,d7 is am5d$ by  
/rik+ = any p]iod aft] ,decemb] #ca1    
#bjaf & ins]t+ ! con/ruction ( :i* does 
n beg9 be=e ,janu>y #a1 #bjbb4  7g7     
,ext5sion ( comb9$ heat & p[] sy/em     
prop]ty ,section #dh7;c77#c77;,a77iv7 is
 am5d$ by /rik+ :i* is plac$ 9 s]vice   
be=e ,janu>y #a1 #bjag & ins]t+ !       
con/ruction ( :i* beg9s be=e ,janu>y #a1
 #bjbb4  7h7 ,ext5sion ( qualifi$ small 
w9d en]gy prop]ty ,section              
#dh7;c77#d77;,c7 is am5d$ by /rik+ = any
 p]iod aft] ,decemb] #ca1 #bjaf & ins]t+
 ! con/ruction ( :i* does n beg9 be=e   

,janu>y #a1 #bjbb4  7i7 ,effective date 
,! am5dm5ts made by ?is section %all    
take effect on ,janu>y #a1 #bjag4  #cab4
 ,ext5sion ( special all[ance = second  
g5]ation bi(uel plant prop]ty  7a7 ,9   
g5]al ,section #afh7l77#b77;,d7 is am5d$
 by /rik+ ,janu>y #a1 #bjag & ins]t+    
,janu>y #a1 #bjai4  7b7 ,effective date 
,! am5dm5t made by ?is section %all     
apply to prop]ty plac$ 9 s]vice aft]    
,decemb] #ca1 #bjaf4  #cac4 ,ext5sion ( 
en]gy effici5t comm]cial build+s        
d$uction  7a7 ,9 g5]al ,section         
#agi;,d7h7 is am5d$ by /rik+ ,decemb]   
#ca1 #bjaf & ins]t+ ,decemb] #ca1 #bjah4
  7b7 ,effective date ,! am5dm5t made by
 ?is section %all apply to prop]ty plac$
 9 s]vice aft] ,decemb] #ca1 #bjaf4     
#cad4 ,ext5sion ( special rule = sales  
or dispositions to implem5t ,,f]c or    
,/ate electric re/ructur+ policy =      
qualifi$ electric utilities  7a7 ,9     
g5]al ,section #dea7;i77#c7 is am5d$ by 
/rik+ ,janu>y #a1 #bjag & ins]t+ ,janu>y
 #a1 #bjai4  7b7 ,effective date ,!     

am5dm5t made by ?is section %all apply  
to dispositions aft] ,decemb] #ca1      
#bjaf4  #cae4 ,ext5sion ( excise tax    
cr$its relat+ to alt]native fuels  7a7  
,ext5sion ( alt]native fuels excise tax 
cr$its  7#a7 ,9 g5]al ,sections         
#fdbf7;d77#e7 & #fdbf7;e77#c7 are ea*   
am5d$ by /rik+ ,decemb] #ca1 #bjaf &    
ins]t+ ,decemb] #ca1 #bjah4  7#b7       
,outlay paym5ts = alt]native fuels      
,section #fdbg7;e77#f77;,c7 is am5d$ by 
/rik+ ,decemb] #ca1 #bjaf & ins]t+      
,decemb] #ca1 #bjah4  7#c7 ,effective   
date ,! am5dm5ts made by ?is subsection 
%all apply to fuel sold or us$ aft]     
,decemb] #ca1 #bjaf4  7b7 ,special rule 
= #bjag ,not)/&+ any o!r provision (    
law1 9 ! case ( any alt]native fuel     
cr$it prop]ly det]m9$ "u section        
#fdbf7;d7 ( ! ,int]nal ,rev5ue ,code (  
#aihf = ! p]iod beg9n+ on ,janu>y #a1   
#bjag1 & end+ on ,decemb] #ca1 #bjag1   
su* cr$it %all be all[$1 & any refund or
 paym5t attributable to su* cr$it       
7includ+ any paym5t "u section #fdbg7;e7

 ( su* ,code7 %all be made1 only 9 su*  
mann] z ! ,secret>y ( ! ,treasury 7or ! 
,secret>y's delegate7 %all provide4 ,su*
 ,secret>y %all issue guidance )9 #cj   
days aft] ! date ( ! enactm5t ( ?is ,act
 provid+ = a "o-"t submission ( claims  
cov]+ p]iods describ$ 9 ! prec$+ s5t5ce4
 ,su* guidance %all provide = a         
#ahj-;day p]iod = ! submission ( su*    
claims 79 su* mann] z prescrib$ by su*  
,secret>y7 to beg9 n lat] ?an #cj days  
aft] su* guidance is issu$4 ,su* claims 
%all be paid by su* ,secret>y n lat] ?an
 #fj days aft] receipt4 ,if su*         
,secret>y has n paid pursuant to a claim
 fil$ "u ?is subsection )9 #fj days aft]
 ! date ( ! fil+ ( su* claim1 ! claim   
%all be paid ) int]e/ f su* date det]m9$
 by us+ ! ov]paym5t rate & me?od "u     
section #ffba ( su* ,code4  #caf4       
,ext5sion ( ,oil ,spill ,liability ,tru/
 ,fund f9anc+ rate  7a7 ,9 g5]al        
,section #dfaa7;f77#b7 is am5d$ by /rik+
 ,decemb] #ca1 #bjag & ins]t+ ,decemb]  
#ca1 #bjah4  7b7 ,effective date ,!     

am5dm5t made by ?is section %all apply  
on & aft] ,janu>y #a1 #bjah4  ,,iv      
,modifications ( en]gy inc5tives  #dja4 
,modifications ( cr$it = production f   
advanc$ nucle> p[] facilities  7a7      
,treatm5t ( unutiliz$ limitation am\nts 
,section #de;,j7b7 is am5d$-- 7#a7 by   
ins]t+ or any am5dm5t to aft] enactm5t (
 9 p>agraph 7#d71 &  7#b7 by add+ at !  
end ! foll[+ new p>agraph3  7#e7        
,allocation ( unutiliz$ limitation  7,a7
 ,9 g5]al ,any unutiliz$ national       
megawatt capacity limitation %all be    
allocat$ by ! ,secret>y "u p>agraph 7#c7
 z rapidly z is practicable aft]        
,decemb] #ca1 #bjbj--  7i7 fir/ to      
facilities plac$ 9 s]vice on or be=e su*
 date to ! ext5t t su* facilities did n 
receive an allocation equal to _! full  
nameplate capacity1 &  7ii7 !n to       
facilities plac$ 9 s]vice aft] su* date 
9 ! ord] 9 :i* su* facilities are plac$ 
9 s]vice4  7,b7 ,unutiliz$ national     
megawatt capacity limitation ,! t]m     
unutiliz$ national megawatt capacity    

limitation means ! excess 7if any7 (--  
7i7 #f1jjj megawatts1 ov]  7ii7 !       
aggregate am\nt ( national megawatt     
capacity limitation allocat$ by !       
,secret>y be=e ,janu>y #a1 #bjba1 r$uc$ 
by any am\nt ( su* limitation :i* 0     
allocat$ to a facility :i* 0 n plac$ 9  
s]vice be=e su* date4  7,c7 ,coord9ation
 ) o!r provisions ,9 ! case ( any       
unutiliz$ national megawatt capacity    
limitation allocat$ by ! ,secret>y      
pursuant to ?is p>agraph--  7i7 su*     
allocation %all be treat$ = purposes (  
?is section 9 ! same mann] z an         
allocation ( national megawatt capacity 
limitation1 &  7ii7 subsection          
7d77#a77;,b7 %all n apply to any        
facility :i* receives su* allocation4  4
  7b7 ,transf] ( cr$it by c]ta9 public  
entities  7#a7 ,9 g5]al ,section #de;,j 
is am5d$--  7,a7 by r$esignat+          
subsection 7e7 z subsection 7f71 &  7,b7
 by ins]t+ aft] subsection 7d7 ! foll[+ 
new subsection3  7e7 ,transf] ( cr$it by
 c]ta9 public entities  7#a7 ,9 g5]al   

,if1 ) respect to a cr$it "u subsection 
7a7 = any taxable ye>-- 7,a7 a qualifi$ 
public entity w\ld be ! taxpay] 7b = ?is
 p>agraph71 &  7,b7 su* entity elects ! 
application ( ?is p>agraph = su* taxable
 ye> ) respect to all 7or any portion   
specifi$ 9 su* election7 ( su* cr$it1  !
 eligible project p>tn] specifi$ 9 su*  
election1 & n ! qualifi$ public entity1 
%all be treat$ z ! taxpay] = purposes ( 
?is title ) respect to su* cr$it 7or su*
 portion !re(74  7#b7 ,def9itions ,=    
purposes ( ?is subsection-- 7,a7        
,qualifi$ public entity ,! t]m qualifi$ 
public entity means--  7i7 a ,f$]al1    
,/ate1 or local gov]nm5t entity1 or any 
political subdivision1 ag5cy1 or        
in/rum5tality !re(1  7ii7 a mutual or   
coop]ative electric company describ$ 9  
section #eja7;c77#ab7 or #acha7;a77#b71 
or  7iii7 a n-=-pr(it electric utility  
:i* _h or has receiv$ a loan or loan    
gu>antee "u ! ,rural ,electrification   
,act ( #aicf4  7,b7 ,eligible project   
p>tn] ,! t]m eligible project p>tn]     

means any p]son :o-- 7i7 is responsible 
=1 or p>ticipates 91 ! design or        
con/ruction ( ! advanc$ nucle> p[]      
facility to :i* ! cr$it "u subsection   
7a7 relates1  7ii7 p>ticipates 9 !      
provision ( ! nucle> /eam supply sy/em  
to su* facility1  7iii7 p>ticipates 9 ! 
provision ( nucle> fuel to su* facility1
  7iv7 is a f9ancial in/itution provid+ 
f9anc+ = ! con/ruction or op]ation ( su*
 facility1 or  7v7 has an own]%ip int]e/
 9 su* facility4  7#c7 ,special rules   
7,a7 ,application to p>tn]%ips ,9 ! case
 ( a cr$it "u subsection 7a7 :i* is     
det]m9$ at ! p>tn]%ip level--  7i7 =    
purposes ( p>agraph 7#a77;,a71 a        
qualifi$ public entity %all be treat$ z 
! taxpay] ) respect to su* entity's     
di/ributive %>e ( su* cr$it1 &  7ii7 !  
t]m eligible project p>tn] %all include 
any p>tn] ( ! p>tn]%ip4  7,b7 ,taxable  
ye> 9 :i* cr$it tak5 into acc\nt ,9 !   
case ( any cr$it 7or portion !re(7 )    
respect to :i* an election is made "u   
p>agraph 7#a71 su* cr$it %all be tak5   

into acc\nt 9 ! fir/ taxable ye> ( !    
eligible project p>tn] end+ )1 or aft]1 
! qualifi$ public entity's taxable ye> )
 respect to :i* ! cr$it 0 det]m9$4  7,c7
 ,treatm5t ( transf] "u private use     
rules ,= purposes ( section             
#ada7;b77#a71 any b5efit d]iv$ by an    
eligible project p>tn] 9 connection ) an
 election "u ?is subsection %all n be   
tak5 into acc\nt z a private bus9ess    
use4  4  7#b7 ,special rule = proce$s ( 
transf]s = mutual or coop]ative electric
 companies ,section #eja7;c77#ab7 is    
am5d$ by add+ at ! end ! foll[+ new     
subp>agraph3  7,i7 ,9 ! case ( a mutual 
or coop]ative electric company describ$ 
9 ?is p>agraph or an organization       
describ$ 9 section #acha7;a77#b71 income
 receiv$ or accru$ 9 connection ) an    
election "u section #de;,j7e77#a7 %all  
be treat$ z an am\nt collect$ f memb]s =
 ! sole purpose ( meet+ losses &        
exp5ses4  4  7c7 ,effective dates  7#a7 
,treatm5t ( unutiliz$ limitation am\nts 
,! am5dm5t made by subsection 7a7 %all  

take effect on ! date ( ! enactm5t ( ?is
 ,act4  7#b7 ,transf] ( cr$it by c]ta9  
public entities ,! am5dm5ts made by     
subsection 7b7 %all apply to taxable    
ye>s beg9n+ aft] ! date ( ! enactm5t (  
?is ,act4  #djb4 ,enhancem5t ( c>bon    
dioxide seque/ration cr$it  7a7 ,9 g5]al
 ,section #de,q is am5d$ to read z      
foll[s3  #de,q4 ,cr$it = c>bon oxide    
seque/ration  7a7 ,g5]al rule ,=        
purposes ( section #ch1 ! c>bon oxide   
seque/ration cr$it = any taxable ye> is 
an am\nt equal to ! sum (--  7#a7 #bj p]
 metric ton ( qualifi$ c>bon oxide :i*  
is-- 7,a7 captur$ by ! taxpay] us+ c>bon
 capture equipm5t :i* is orig9ally plac$
 9 s]vice at a qualifi$ facility be=e ! 
date ( ! enactm5t ( ! ,tax ,ext5d] ,act 
( #bjag1 &  7,b7 dispos$ ( by ! taxpay] 
9 secure geological /orage & n us$ by ! 
taxpay] z describ$ 9 p>agraph 7#b77;,b71
  7#b7 #aj p] metric ton ( qualifi$     
c>bon oxide :i* is-- 7,a7 captur$ by !  
taxpay] us+ c>bon capture equipm5t :i*  
is orig9ally plac$ 9 s]vice at a        

qualifi$ facility be=e ! date ( !       
enactm5t ( ! ,tax ,ext5d] ,act ( #bjag1 
&  7,b7 7i7 us$ by ! taxpay] z a t]ti>y 
injectant 9 a qualifi$ enhanc$ oil or   
natural gas recov]y project & dispos$ ( 
by ! taxpay] 9 secure geological /orage1
 or  7ii7 utiliz$ by ! taxpay] 9 a mann]
 describ$ 9 subsection 7f77#e71  7#c7 ! 
applicable doll> am\nt p] metric ton (  
qualifi$ c>bon oxide :i* is--  7,a7     
captur$ by ! taxpay] us+ c>bon capture  
equipm5t :i* is orig9ally plac$ 9 s]vice
 at a qualifi$ facility on or aft] !    
date ( ! enactm5t ( ! ,tax ,ext5d] ,act 
( #bjag1 dur+ ! #ab-ye> p]iod beg9n+ on 
! date ! equipm5t 0 orig9ally plac$ 9   
s]vice1 &  7,b7 dispos$ ( by ! taxpay] 9
 secure geological /orage & n us$ by !  
taxpay] z describ$ 9 p>agraph 7#d77;,b71
 &  7#d7 ! applicable doll> am\nt p]    
metric ton ( qualifi$ c>bon oxide :i*   
is--  7,a7 captur$ by ! taxpay] us+     
c>bon capture equipm5t :i* is orig9ally 
plac$ 9 s]vice at a qualifi$ facility on
 or aft] ! date ( ! enactm5t ( ! ,tax   

,ext5d] ,act ( #bjag1 dur+ ! #ab-ye>    
p]iod beg9n+ on ! date ! equipm5t 0     
orig9ally plac$ 9 s]vice1 &  7,b7 7i7   
us$ by ! taxpay] z a t]ti>y injectant 9 
a qualifi$ enhanc$ oil or natural gas   
recov]y project & dispos$ ( by ! taxpay]
 9 secure geological /orage1 or  7ii7   
utiliz$ by ! taxpay] 9 a mann] describ$ 
9 subsection 7f77#e74  7b7 ,applicable  
doll> am\nt2 additional equipm5t2       
election  7#a7 ,applicable doll> am\nt  
7,a7 ,9 g5]al ,= purposes ( ?is section1
 ! applicable doll> am\nt %all be an    
am\nt equal to--  7i7 = any taxable ye> 
beg9n+ 9 a cal5d> ye> aft] #bjaf & end+ 
be=e #bjbg-- 7,i7 = purposes ( p>agraph 
7#c7 ( subsection 7a71 ! doll> am\nt    
e/abli%$ by l9e> int]polation betwe5    
#bb4ff & #ej = ea* cal5d> ye> dur+ su*  
p]iod1 &  7,,ii7 = purposes ( p>agraph  
7#d7 ( su* subsection1 ! doll> am\nt    
e/abli%$ by l9e> int]polation betwe5    
#ab4hc & #ce = ea* cal5d> ye> dur+ su*  
p]iod1 &  7ii7 = any taxable ye> beg9n+ 
9 a cal5d> ye> aft] #bjbf-- 7,i7 =      

purposes ( p>agraph 7#c7 ( subsection   
7a71 an am\nt equal to ! product ( #ej &
 ! inflation adju/m5t factor = su*      
cal5d> ye> det]m9$ "u section           
#dc7;b77#c77;,b7 = su* cal5d> ye>1      
det]m9$ by sub/itut+ #bjbe = #aiij1 &   
7,,ii7 = purposes ( p>agraph 7#d7 ( su* 
subsection1 an am\nt equal to ! product 
( #ce & ! inflation adju/m5t factor =   
su* cal5d> ye> det]m9$ "u section       
#dc7;b77#c77;,b7 = su* cal5d> ye>1      
det]m9$ by sub/itut+ #bjbe = #aiij4     
7,b7 ,r\nd+ ,! applicable doll> am\nt   
det]m9$ "u subp>agraph 7,a7 %all be     
r\nd$ to ! ne>e/ c5t4  7#b7 ,in/allation
 ( additional c>bon capture equipm5t on 
exi/+ qualifi$ facility ,9 ! case ( a   
qualifi$ facility plac$ 9 s]vice be=e ! 
date ( ! enactm5t ( ! ,tax ,ext5d] ,act 
( #bjag1 = :i* additional c>bon capture 
equipm5t is plac$ 9 s]vice on or aft] ! 
date ( ! enactm5t ( su* ,act1 ! am\nt ( 
qualifi$ c>bon oxide :i* is captur$ by !
 taxpay] %all be equal to--  7,a7 =     
purposes ( p>agraphs 7#a77;,a7 &        

7#b77;,a7 ( subsection 7a71 ! less] (-- 
7i7 ! total am\nt ( qualifi$ c>bon oxide
 captur$ at su* facility = ! taxable    
ye>1 or  7ii7 ! total am\nt ( ! c>bon   
dioxide capture capacity ( ! c>bon      
capture equipm5t 9 s]vice at su*        
facility on ! day be=e ! date ( !       
enactm5t ( ! ,tax ,ext5d] ,act ( #bjag1 
&  7,b7 = purposes ( p>agraphs 7#c77;,a7
 & 7#d77;,a7 ( su* subsection1 an am\nt 
7n less ?an z]o7 equal to ! excess (--  
7i7 ! am\nt describ$ 9 clause 7i7 (     
subp>agraph 7,a71 ov]  7ii7 ! am\nt     
describ$ 9 clause 7ii7 ( su*            
subp>agraph4  7#c7 ,election ,= purposes
 ( det]m9+ ! c>bon oxide seque/ration   
cr$it "u ?is section1 a taxpay] may     
elect to h ! doll> am\nts applicable "u 
p>agraph 7#a7 or 7#b7 ( subsection 7a7  
apply 9 lieu ( ! doll> am\nts applicable
 "u p>agraph 7#c7 or 7#d7 ( su*         
subsection = ea* metric ton ( qualifi$  
c>bon oxide :i* is captur$ by ! taxpay] 
us+ c>bon capture equipm5t :i* is       
orig9ally plac$ 9 s]vice at a qualifi$  

facility on or aft] ! date ( ! enactm5t 
( ! ,tax ,ext5d] ,act ( #bjag4  7c7     
,qualifi$ c>bon oxide ,= purposes ( ?is 
section-- 7#a7 ,9 g5]al ,! t]m qualifi$ 
c>bon oxide means--  7,a7 any c>bon     
dioxide :i*-- 7i7 is captur$ f an       
indu/rial s\rce by c>bon capture        
equipm5t :i* is orig9ally plac$ 9 s]vice
 be=e ! date ( ! enactm5t ( ! ,tax      
,ext5d] ,act ( #bjag1  7ii7 w\ld o!rwise
 be releas$ into ! atmosph]e z indu/rial
 emission ( gre5h\se gas or lead to su* 
release1 &  7iii7 is measur$ at ! s\rce 
( capture & v]ifi$ at ! po9t ( disposal1
 injection1 or utilization1  7,b7 any   
c>bon dioxide or o!r c>bon oxide :i*--  
7i7 is captur$ f an indu/rial s\rce by  
c>bon capture equipm5t :i* is orig9ally 
plac$ 9 s]vice on or aft] ! date ( !    
enactm5t ( ! ,tax ,ext5d] ,act ( #bjag1 
7ii7 w\ld o!rwise be releas$ into !     
atmosph]e z indu/rial emission (        
gre5h\se gas or lead to su* release1 &  
7iii7 is measur$ at ! s\rce ( capture & 
v]ifi$ at ! po9t ( disposal1 injection1 

or utilization1 or  7,c7 9 ! case ( a   
direct air capture facility1 any c>bon  
dioxide :i*-- 7i7 is captur$ directly f 
! ambi5t air1 &  7ii7 is measur$ at !   
s\rce ( capture & v]ifi$ at ! po9t (    
disposal1 injection1 or utilization4    
7#b7 ,recycl$ c>bon oxide ,! t]m        
qualifi$ c>bon oxide includes ! initial 
deposit ( captur$ c>bon oxide us$ z a   
t]ti>y injectant4 ,su* t]m does n       
include c>bon oxide t is recaptur$1     
recycl$1 & re-inject$ z "p ( ! enhanc$  
oil & natural gas recov]y process4  7d7 
,qualifi$ facility  ,= purposes ( ?is   
section1 ! t]m qualifi$ facility means  
any indu/rial facility or direct air    
capture facility-- 7#a7 ! con/ruction ( 
:i* beg9s be=e ,janu>y #a1 #bjbd1 &--   
7,a7 con/ruction ( c>bon capture        
equipm5t beg9s be=e su* date1 or  7,b7 !
 orig9al plann+ & design = su* facility 
includes in/allation ( c>bon capture    
equipm5t1 &  7#b7 :i* captures-- 7,a7 9 
! case ( a facility :i* emits n m ?an   
#ejj1jjj metric tons ( c>bon oxide into 

! atmosph]e dur+ ! taxable ye>1 n less  
?an #be1jjj metric tons ( qualifi$ c>bon
 oxide dur+ ! taxable ye> :i* is utiliz$
 9 a mann] describ$ 9 subsection        
7f77#e71  7,b7 9 ! case ( an electricity
 g5]at+ facility :i* is n describ$ 9    
subp>agraph 7,a71 n less ?an #ejj1jjj   
metric tons ( qualifi$ c>bon oxide dur+ 
! taxable ye>1 or  7,c7 9 ! case ( a    
direct air capture facility or any      
facility n describ$ 9 subp>agraph 7,a7  
or 7,b71 n less ?an #ajj1jjj metric tons
 ( qualifi$ c>bon oxide dur+ ! taxable  
ye>4  7e7 ,def9itions ,= purposes ( ?is 
section-- 7#a7 ,direct air capture      
facility  7,a7 ,9 g5]al ,subject to     
subp>agraph 7,b71 ! t]m direct air      
capture facility means any facility :i* 
uses c>bon capture equipm5t to capture  
c>bon dioxide directly f ! ambi5t air4  
7,b7 ,exception ,! t]m direct air       
capture facility %all n include any     
facility :i* captures c>bon dioxide--   
7i7 :i* is delib]ately releas$ f        
naturally occurr+ subsurface spr+s1 or  

7ii7 us+ natural photosyn!sis4  7#b7    
,qualifi$ enhanc$ oil or natural gas    
recov]y project ,! t]m qualifi$ enhanc$ 
oil or natural gas recov]y project has !
 mean+ giv5 ! t]m qualifi$ enhanc$ oil  
recov]y project by section #dc7;c77#b71 
det]m9$--  7,a7 by sub/itut+ crude oil  
or natural gas = crude oil 9 subp>agraph
 7,a77i7 !re(1 &  7,b7 )\t reg>d to     
subp>agraph 7,a77iii7 !re(4  7#c7       
,t]ti>y injectant ,! t]m t]ti>y         
injectant has ! same mean+ z :5 us$ )9  
section #aic7;b77#a74  7f7 ,special     
rules  7#a7 ,only qualifi$ c>bon oxide  
captur$ & dispos$ ( or us$ )9 ! ,unit$  
,/ates tak5 into acc\nt ,! cr$it "u ?is 
section %all apply only ) respect to    
qualifi$ c>bon oxide ! capture &        
disposal1 use1 or utilization ( :i* is  
)9--  7,a7 ! ,unit$ ,/ates 7)9 ! mean+ (
 section #fch7a771 or  7,b7 a possession
 ( ! ,unit$ ,/ates 7)9 ! mean+ ( section
 #fch7b774  7#b7 ,secure geological     
/orage  7,a7 ,9 g5]al ,n lat] ?an       
,decemb] #ca1 #bjah1 ! ,secret>y1 9     

consultation ) ! ,adm9i/rator ( !       
,environm5tal ,protection ,ag5cy1 !     
,secret>y ( ,en]gy1 & ! ,secret>y ( !   
,int]ior1 %all e/abli% regulations =    
det]m9+ adequate security measures = !  
geological /orage ( c>bon dioxide "u    
subsection 7a7 su* t ! c>bon dioxide    
does n escape into ! atmosph]e4 ,su* t]m
 %all include /orage at deep sal9e      
=mations1 oil & gas res]voirs1 &        
unm9eable coal seams "u su* conditions z
 ! ,secret>y may det]m9e "u su*         
regulations4  7,b7 ,requirem5ts ,!      
regulations e/abli%$ pursuant to        
subp>agraph 7,a7 %all provide t-- 7i7 = 
purposes ( p>agraph 7#a77;,b7 or        
7#c77;,b7 ( subsection 7a71 c>bon       
dioxide %all be consid]$ dispos$ ( 9    
secure geological /orage if su* c>bon   
dioxide is /or$ 9 compliance ) rules    
promulgat$ by ! ,environm5tal           
,protection ,ag5cy "u subp>t ,,rr ( "p  
#ih ( title #dj1 ,code ( ,f$]al         
,regulations 7z 9 effect on ! date ( !  
enactm5t ( ?is p>agraph71 "u ! ,clean   

,air ,act 7#db ,u4,s4,c4 #gdja et seq47 
& rules "u ! ,safe ,dr9k+ ,wat] ,act    
7#db ,u4,s4,c4 #cjj;f et seq47 :i* are  
applicable to c>bon dioxide dispos$ ( 9 
secure geological /orage & n us$ z a    
t]ti>y injectant 9 a qualifi$ enhanc$   
oil or natural gas recov]y project1 &   
7ii7 = purposes ( p>agraph 7#b77;,b77i7 
or 7#d77;,b77i7 ( subsection 7a71 c>bon 
dioxide %all be consid]$ dispos$ ( 9    
secure geological /orage if su* c>bon   
dioxide is /or$ 9 compliance ) rules    
promulgat$ by ! ,environm5tal           
,protection ,ag5cy :i* are applicable to
 c>bon dioxide us$ z a t]ti>y injectant 
9 a qualifi$ enhanc$ oil or natural gas 
recov]y project "u--  7,i7 subp>t ,,uu (
 "p #ih ( title #dj1 ,code ( ,f$]al     
,regulations 7z 9 effect on ! date ( !  
enactm5t ( ?is p>agraph71 "u ! ,clean   
,air ,act1 &  7,,ii7 subp>t ,c ( "p #adf
 ( title #dj1 ,code ( ,f$]al            
,regulations 7z 9 effect on ! date ( !  
enactm5t ( ?is p>agraph71 "u ! ,safe    
,dr9k+ ,wat] ,act1 to ! ext5t su* rules 

are applicable to ,class ,,ii wells4    
7#c7 ,cr$it attributable to taxpay]     
7,a7 ,9 g5]al ,except z provid$ 9       
subp>agraph 7,b7 or 9 any regulations   
prescrib$ by ! ,secret>y1 any cr$it "u  
?is section %all be attributable to--   
7i7 9 ! case ( qualifi$ c>bon oxide     
captur$ us+ c>bon capture equipm5t :i*  
is orig9ally plac$ 9 s]vice at a        
qualifi$ facility be=e ! date ( !       
enactm5t ( ! ,tax ,ext5d] ,act ( #bjag1 
! p]son t captures & physically or      
contractually ensures ! disposal1       
utilization1 or use z a t]ti>y injectant
 ( su* qualifi$ c>bon oxide1 &  7ii7 9 !
 case ( qualifi$ c>bon oxide captur$ us+
 c>bon capture equipm5t :i* is orig9ally
 plac$ 9 s]vice at a qualifi$ facility  
on or aft] ! date ( ! enactm5t ( ! ,tax 
,ext5d] ,act ( #bjag1 ! p]son t owns !  
c>bon capture equipm5t & physically or  
contractually ensures ! capture &       
disposal1 utilization1 or use z a t]ti>y
 injectant ( su* qualifi$ c>bon oxide4  
7,b7 ,election ,if ! p]son describ$ 9   

subp>agraph 7,a7 makes an election "u   
?is subp>agraph 9 su* "t & mann] z !    
,secret>y may prescribe by regulations1 
! cr$it "u ?is section--  7i7 %all be   
all[able to ! p]son t disposes ( !      
qualifi$ c>bon oxide1 utilizes !        
qualifi$ c>bon oxide1 or uses ! qualifi$
 c>bon oxide z a t]ti>y injectant1 &    
7ii7 %all n be all[able to ! p]son      
describ$ 9 subp>agraph 7,a74  7#d7      
,recapture ,! ,secret>y %all1 by        
regulations1 provide = recaptur+ !      
b5efit ( any cr$it all[able "u          
subsection 7a7 ) respect to any qualifi$
 c>bon oxide :i* ceases to be captur$1  
dispos$ (1 or us$ z a t]ti>y injectant 9
 a mann] consi/5t ) ! requirem5ts ( ?is 
section4  7#e7 ,utilization ( qualifi$  
c>bon oxide  7,a7 ,9 g5]al ,= purposes (
 ?is section1 utilization ( qualifi$    
c>bon oxide means-- 7i7 ! fixation ( su*
 qualifi$ c>bon oxide ?r\gh photosyn!sis
 or *emosyn!sis1 su* z ?r\gh ! gr[+ (   
algae or bact]ia1  7ii7 ! *emical       
conv]sion ( su* qualifi$ c>bon oxide to 

a mat]ial or *emical comp\nd 9 :i* su*  
qualifi$ c>bon oxide is securely /or$1  
or  7iii7 ! use ( su* qualifi$ c>bon    
oxide = any o!r purpose = :i* a         
comm]cial m>ket exi/s 7) ! exception (  
use z a t]ti>y injectant 9 a qualifi$   
enhanc$ oil or natural gas recov]y      
project71 z det]m9$ by ! ,secret>y4     
7,b7 ,measurem5t  7i7 ,9 g5]al ,=       
purposes ( det]m9+ ! am\nt ( qualifi$   
c>bon oxide utiliz$ by ! taxpay] "u     
p>agraph 7#b77;,b77ii7 or 7#d77;,b77ii7 
( subsection 7a71 su* am\nt %all be     
equal to ! metric tons ( qualifi$ c>bon 
oxide :i* ! taxpay] demon/rates1 bas$ ^u
 an analysis ( lifecycle gre5h\se gas   
emissions & subject to su* requirem5ts z
 ! ,secret>y1 9 consultation ) !        
,secret>y ( ,en]gy & ! ,adm9i/rator ( ! 
,environm5tal ,protection ,ag5cy1       
det]m9es appropriate1 7--  7,i7 captur$ 
& p]man5tly isolat$ f ! atmosph]e1 or   
7,,ii7 displac$ f be+ emitt$ into !     
atmosph]e1  ?r\gh use ( a process       
describ$ 9 subp>agraph 7,a74  7ii7      

,lifecycle gre5h\se gas emissions ,=    
purposes ( clause 7i71 ! t]m lifecycle  
gre5h\se gas emissions has ! same mean+ 
giv5 su* t]m "u subp>agraph 7,h7 (      
section #baa7o77#a7 ( ! ,clean ,air ,act
 7#db ,u4,s4,c4 #gede7o77#a771 z 9      
effect on ! date ( ! enactm5t ( ! ,tax  
,ext5d] ,act ( #bjag1 except t product  
%all be sub/itut$ = fuel ea* place x    
appe>s 9 su* subp>agraph4  7#f7         
,election = applicable facilities  7,a7 
,9 g5]al ,= purposes ( ?is section1 9 ! 
case ( an applicable facility1 = any    
taxable ye> 9 :i* su* facility captures 
n less ?an #ejj1jjj metric tons (       
qualifi$ c>bon oxide dur+ ! taxable ye>1
 ! p]son describ$ 9 p>agraph            
7#c77;,a77ii7 may elect to h su*        
facility1 & any c>bon capture equipm5t  
plac$ 9 s]vice at su* facility1 deem$ z 
hav+ be5 plac$ 9 s]vice on ! date ( !   
enactm5t ( ! ,tax ,ext5d] ,act ( #bjag4 
7,b7 ,applicable facility ,= purposes ( 
?is p>agraph1 ! t]m applicable facility 
means a qualifi$ facility-- 7i7 :i* 0   

plac$ 9 s]vice be=e ! date ( ! enactm5t 
( ! ,tax ,ext5d] ,act ( #bjag1 &  7ii7 =
 :i* no taxpay] claim$ a cr$it "u ?is   
section 9 reg>ds to su* facility = any  
taxable ye> end+ be=e ! date ( !        
enactm5t ( su* ,act4  7#g7 ,inflation   
adju/m5t ,9 ! case ( any taxable ye>    
beg9n+ 9 a cal5d> ye> aft] #bjji1 !re   
%all be sub/itut$ = ea* doll> am\nt     
conta9$ 9 p>agraphs 7#a7 & 7#b7 (       
subsection 7a7 an am\nt equal to !      
product (--  7,a7 su* doll> am\nt1      
multipli$ by  7,b7 ! inflation adju/m5t 
factor = su* cal5d> ye> det]m9$ "u      
section #dc7;b77#c77;,b7 = su* cal5d>   
ye>1 det]m9$ by sub/itut+ #bjjh = #aiij4
  7g7 ,application ( section = c]ta9    
c>bon capture equipm5t ,9 ! case ( any  
c>bon capture equipm5t plac$ 9 s]vice   
be=e ! date ( ! enactm5t ( ! ,tax       
,ext5d] ,act ( #bjag1 ! cr$it "u ?is    
section %all apply ) respect to qualifi$
 c>bon oxide captur$ us+ su* equipm5t   
be=e ! end ( ! cal5d> ye> 9 :i* !       
,secret>y1 9 consultation ) !           

,adm9i/rator ( ! ,environm5tal          
,protection ,ag5cy1 c]tifies t1 dur+ !  
p]iod beg9n+ aft] ,octob] #c1 #bjjh1 a  
total ( #ge1jjj1jjj metric tons (       
qualifi$ c>bon oxide h be5 tak5 into    
acc\nt 9 accordance )--  7#a7 subsection
 7a7 ( ?is section1 z 9 effect on ! day 
be=e ! date ( ! enactm5t ( ! ,tax       
,ext5d] ,act ( #bjag1 &  7#b7 p>agraphs 
7#a7 & 7#b7 ( subsection 7a7 ( ?is      
section4  7h7 ,regulations ,! ,secret>y 
may prescribe su* regulations & o!r     
guidance z may be necess>y or           
appropriate to c>ry out ?is section1    
includ+ regulations or o!r guidance to--
  7#a7 ensure prop] allocation "u       
subsection 7a7 = qualifi$ c>bon oxide   
captur$ by a taxpay] dur+ ! taxable ye> 
end+ aft] ! date ( ! enactm5t ( ! ,tax  
,ext5d] ,act ( #bjag1 &  7#b7 det]m9e   
:e!r a facility satisfies ! requirem5ts 
"u subsection 7d77#a7 dur+ su* taxable  
ye>4  4  7b7 ,effective date ,! am5dm5ts
 made by ?is section %all take effect on
 ! date ( ! enactm5t ( ?is ,act4