,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #diff  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #g1 #bjbj,mrs4
 ,capito 7= h]self1 ,mr4 ,:iteh\se1 ,mr4
 ,b>rasso1 ,mr4 ,cram]1 ,mr4 ,hoev51    
,ms4 ,smi?1 & ,mr4 ,man*97 introduc$ !  
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,f9ance  ,a ,,bill   
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to provide = a #e-ye> ext5sion ( !
 c>bon oxide seque/ration cr$it1 & = o!r
 purposes4  #a4 ,%ort title ,?is ,act   
may be cit$ z ! #de,q ,c>bon ,capture1  
,utilization1 & ,/orage ,tax ,cr$it     
,am5dm5ts ,act ( #bjbj4  #b4 ,ext5sion (
 cr$it = c>bon oxide seque/ration       
,section #de,q7d77#a7 ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
,janu>y #a1 #bjbd & ins]t+ ,janu>y #a1  
#bjbi4  #c4 ,elective paym5t = c>bon    
oxide seque/ration & qualify+ advanc$   
coal projects  7a7 ,9 g5]al ,sub*apt] ,b
 ( *apt] #fe ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by add+ at ! end !     
foll[+ new section3  #fdca4 ,elective   

paym5t = c>bon oxide seque/ration &     
qualify+ advanc$ coal projects  7a7     
,en]gy prop]ty ,9 ! case ( a taxpay]    
mak+ an election 7at su* "t & 9 su*     
mann] z ! ,secret>y may provide7 "u ?is 
section ) respect to any portion (--    
7#a7 a c>bon oxide seque/ration cr$it   
:i* w\ld 7)\t reg>d to ?is section7 be  
det]m9$ "u section #de,q ) respect to   
su* taxpay]1 or  7#b7 a qualify+ advanc$
 coal project cr$it :i* w\ld 7)\t reg>d 
to ?is section7 be det]m9$ "u section   
#dh;,a ) respect to su* taxpay]1  su*   
taxpay] %all be treat$ z mak+ a paym5t  
aga9/ ! tax impos$ by subtitle ,a = !   
taxable ye> equal to ! am\nt ( su*      
portion4  7b7 ,tim+ ,! paym5t describ$ 9
 subsection 7a7 %all be treat$ z made on
 ! lat] ( ! due date ( ! return ( tax = 
su* taxable ye> or ! date on :i* su*    
return is fil$4  7c7 ,exclusion f gross 
income ,gross income ( ! taxpay] %all be
 det]m9$ )\t reg>d to ?is section4  7d7 
,d5ial ( d\ble b5efit ,solely = purposes
 ( section #ch1 9 ! case ( a taxpay]    

mak+ an election "u ?is section1 ! c>bon
 oxide seque/ration cr$it det]m9$ "u    
section #de,q or ! qualify+ advanc$ coal
 project cr$it det]m9$ "u section #dh;,a
 %all be r$uc$ by ! am\nt ( ! portion ( 
su* cr$it ) respect to :i* ! taxpay]    
makes su* election4  7e7 ,special rules 
,9 ! case ( a taxpay] mak+ an election  
"u ?is section ) respect to ! qualify+  
advanc$ coal project cr$it det]m9$ "u   
section #dh;,a1 ! cr$it subject to su*  
an election %all be det]m9$ not)/&+--   
7#a7 section #ej7;b77#c71 &  7#b7 9 !   
case ( any entity describ$ 9 section    
#ej7;b77#d77;,a77i71 section            
#ej7;b77#d74  4  7b7 ,special rule =    
proce$s ( transf]s = mutual or          
coop]ative electric companies ,section  
#eja7;c77#ab77;,i7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by ins]t+ or     
#fdca7;a7 aft] section #de;,j7e77#a74   
7c7 ,cl]ical am5dm5t ,! table ( sections
 = sub*apt] ,b ( *apt] #fe ( su* ,code  
is am5d$ by add+ at ! end ! foll[+ new  
item3  ,sec4 #fdca4 ,elective paym5t =  

c>bon oxide seque/ration & qualify+     
advanc$ coal projects4  4  7d7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty orig9ally 
plac$ 9 s]vice aft] ! date ( ! enactm5t 
( ?is ,act4  #d4 ,all[ance ( c]ta9 c>bon
 seque/ration cr$its aga9/ ! base       
erosion m9imum tax  7a7 ,9 g5]al        
,section #ei;,a7b77#a77;,b77ii7 ( !     
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ plus & ! end ( subclause 7,i71 
by r$esignat+ subclause 7,,ii7 z        
subclause 7,,iv71 & by ins]t+ aft]      
subclause 7,i7 ! foll[+ new subclauses3 
7,,ii7 ! cr$it all[$ "u section #ch = ! 
taxable ye> :i* is prop]ly allocable to 
! c>bon dioxide seque/ration cr$it      
det]m9$ "u section #de,q7a71  7,,iii7 ! 
cr$it all[$ "u section #ch = ! taxable  
ye> :i* is prop]ly allocable to !       
inve/m5t cr$it det]m9$ "u section #df1 b
 only to ! ext5t prop]ly allocable to ! 
qualify+ advanc$ coal project cr$it     
det]m9$ "u section #dh;,a1 plus  4  7b7 
,application to taxable ye>s beg9n+ aft]

 #bjbe ,subp>agraph 7,b7 ( section      
#ei;,a7b77#b7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ to read z foll[s3     
7,b7 by apply+ subp>agraph 7,b77ii7 !re(
 )\t reg>d to subclauses 7,i7 & 7,,iv74 
4  7c7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to base       
erosion paym5ts 7z def9$ 9 section      
#ei;,a7d7 ( ! ,int]nal ,rev5ue ,code (  
#aihf7 paid or incurr$ 9 taxable ye>s   
beg9n+ aft] ,decemb] #ca1 #bjag4