,,ii  #aah? ,,congress  #b;d ,session   
,s4 #ecfi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #ba1 #bjbd,mr4
 ,b5net 7= himself & ,ms4 ,murk[ski7    
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to e/abli% a      
te*nology-neutral tax cr$it = increas$  
inve/m5t 9 next-g5]ation c>bon dioxide  
removal te*nologies4  #a4 ,%ort title   
,?is ,act may be cit$ z ! ,c>bon        
,dioxide ,removal ,inve/m5t ,act4  #b4  
,e/abli%m5t ( te*nology-neutral cr$it = 
c>bon dioxide removal  7a7 ,9 g5]al     
,subp>t ,d ( "p ,,iv ( sub*apt] ,a (    
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ aft] section   
#de;,,aa ! foll[+ new section3          
#de;,,bb4 ,te*nology-neutral cr$it =    
c>bon dioxide removal  7a7 ,9 g5]al ,=  
purposes ( section #ch1 ! c>bon dioxide 
removal cr$it = any taxable ye> is an   
am\nt equal to ! applicable am\nt p]    
metric tons ( net c>bon dioxide removal 

7z det]m9$ pursuant to subsection 7e77  
a*iev$ by a qualify+ c>bon dioxide      
removal project dur+ ! #ab-ye> p]iod    
beg9n+ on ! date su* project 0 orig9ally
 plac$ 9 s]vice4  7b7 ,applicable am\nt 
7#a7 ,9 g5]al ,= purposes ( subsection  
7a71 ! applicable am\nt %all be-- 7,a7 9
 ! case ( a qualify+ c>bon dioxide      
removal project :i* uses in/all$ c>bon  
capture equipm5t to capture po9t-s\rce  
c>bon dioxide orig9at+ f ! combu/ion or 
process+ ( biomass fe$/ocks1 #aaj1 &    
7,b7 9 ! case ( a qualify+ c>bon dioxide
 removal project :i* is n describ$ 9    
subp>agraph 7,a71 #bej4  7#b7 ,inflation
 adju/m5t  7,a7 ,9 g5]al ,9 ! case ( any
 taxable ye> beg9n+ 9 a cal5d> ye> aft] 
#bjbe1 ! doll> am\nts 9 p>agraph 7#a7   
%all ea* be adju/$ by multiply+ su*     
am\nt by ! inflation adju/m5t factor = !
 cal5d> ye> 9 :i* ! c>bon dioxide       
removal occurs4  7,b7 ,annual           
computation ,! ,secret>y %all1 n lat]   
?an ,april #a ( ea* cal5d> ye>1 det]m9e 
& publi% 9 ! ,f$]al ,regi/] ! inflation 

adju/m5t factor = su* cal5d> ye> 9      
accordance ) ?is subsection4  7,c7      
,inflation adju/m5t factor ,! t]m       
inflation adju/m5t factor has ! same    
mean+ giv5 su* t]m "u section           
#de,y7c77#c71 except t su* section %all 
be appli$ by sub/itut+ cal5d> ye> #bjbd 
= cal5d> ye> #aiib4  7,d7 ,r\nd+ rule   
,if any am\nt z increas$ "u subp>agraph 
7,a7 is n a multiple ( #a1 su* am\nt    
%all be r\nd$ to ! ne>e/ multiple ( #a4 
7c7 ,def9itions ,9 ?is section-- 7#a7   
,c>bon dioxide equival5t ,! t]m c>bon   
dioxide equival5t means ) respect to a  
gre5h\se gas1 ! quantity ( su* gas t has
 a global w>m+ pot5tial equival5t to #a 
metric ton ( c>bon dioxide4  7#b7 ,c>bon
 dioxide removal ,! t]m c>bon dioxide   
removal means ! removal ( c>bon dioxide 
f ! atmosph]e ?r\gh-- 7,a7 ! capture (  
c>bon dioxide f ! ambi5t air or upp]    
hydrosph]e1 &  7,b7 ! /orage ( su* c>bon
 dioxide4  7#c7 ,net c>bon dioxide      
removal ,! t]m net c>bon dioxide removal
 means c>bon dioxide removal1 net ( any 

associat$ gre5h\se gas emissions 7z     
measur$ 9 metric tons ( c>bon dioxide   
equival5t on a lifecycle basis74  7#d7  
,qualify+ c>bon dioxide removal approa* 
7,a7 ,9 g5]al ,! t]m qualify+ c>bon     
dioxide removal approa* means1 ) respect
 to any qualify+ c>bon dioxide removal  
project1 a set ( simil> te*nologies--   
7i7 :i* a*ieve c>bon dioxide removal    
?r\gh-- 7,i7 direct air capture &       
/orage1  7,,ii7 enhanc$ c>bon           
m9]alization & rock wea!r+1  7,,iii7    
t]re/rial biomass-bas$ c>bon dioxide    
removal1  7,,iv7 m>9e-bas$ c>bon dioxide
 removal1 or  7,v7 any o!r means1 &     
7ii7 :i* satisfy ea* ( ! foll[+ crit]ia 
7z det]m9$ by ! ,secret>y1 9            
consultation ) ! ,secret>y ( ,en]gy &1 z
 deem$ necess>y1 ! head ( any o!r       
relevant ,f$]al ag5cy73 7,i7 ,expect$ to
 provide net c>bon dioxide removal bas$ 
on project-level lifecycle analysis1 z  
describ$ 9 subsection 7e77#b74  7,,ii7  
,has a high likelihood1 bas$ on         
sci5tific und]/&+1 ( /or+ ! captur$     

c>bon dioxide = at lea/ #a1jjj ye>s1    
includ+ ?r\gh geologic /orage1          
utilization1 or o!r means4  7,,iii7     
,demon/rates ! ability to quantify net  
c>bon dioxide removal1 )9 a range ( plus
 or m9us #bj p]c5t ) a #ie p]c5t        
confid5ce int]val bas$ on public        
demon/rations & field trials4  7,b7     
,t]re/rial biomass-bas$ c>bon dioxide   
removal  7i7 ,9 g5]al ,9 ! case ( any   
approa* :i* uses t]re/rial biomass to   
capture c>bon dioxide1 su* approa* %all 
use eligible biomass fe$/ocks4  7ii7    
,eligible biomass fe$/ock ,= purposes ( 
?is subp>agraph1 ! t]m eligible biomass 
fe$/ock means a fe$/ock :i* is d]iv$ f--
 7,i7 agricultural wa/es & residues f l&
 actively cultivat$ be=e ! date (       
enactm5t ( ?is section1 provid$ t-- 7aa7
 !re is n less ?an a #ej p]c5t ret5tion 
( residues1 or  7bb7 an alt]nate        
ret5tion rate or be/ practice 7z c]tifi$
 "u clause 7iii77,,iii77aa77 is a*iev$1 
7,,ii7 non-invasive organic mat]ial gr[n
 on br[nfield sites or ab&on$ m9e sites1

 includ+ organic mat]ial gr[n           
exclusively = purposes ( be+ us$ by a   
qualify+ c>bon dioxide removal project1 
7,,iii7 algae or o!r aquatic            
photosyn!siz+ organisms1  7,,iv7 food   
wa/e1  7,v7 removal ( invasive plant    
species1  7,,vi7 o!r wa/es & residues   
d]iv$ f-- 7aa7 l&scape or "r-(-way      
trimm+1  7bb7 biomass remov$ = wildfire 
haz>d r$uction )9 #bjj feet ( /ructures1
  7cc7 wood & pap] mill wa/e1 or  7dd7  
d[n$ wood f extreme wea!r ev5ts1 or     
7,,vii7 any o!r s\rce :i* is c]tifi$    
pursuant to clause 7iii77,,iii77bb74    
7iii7 ,/udy & c]tification  7,i7 ,/udy  
,n lat] ?an #a ye> aft] ! date (        
enactm5t ( ?is section1 ! ,national     
,academies ( ,sci5ces1 ,eng9e]+1 &      
,m$ic9e1 9 consultation ) ! ,secret>y ( 
,en]gy & ! ,secret>y ( ,agriculture1    
%all complete #b sep>ate /udies )       
respect to ! foll[+3 7aa7 ,= purposes ( 
clause 7ii77,i77bb71 recomm5d adequate  
?re%olds = residue ret5tion rates & o!r 
be/ practices = v>i\s crops &           

environm5tal conditions1 ) ! goal (     
ma9ta9+ soil organic c>bon1 soil heal?1 
& biodiv]sity4  7bb7 ,= purposes (      
clause 7ii77,,vii71 evaluate !          
suitability z additional s\rces =       
eligible biomass fe$/ocks (-- 7,,aa7    
biomass gr[n on m>g9al l&s t h be5 or   
are "u int5sive cultivation1 & 7,,bb7   
=e/ residues 7su* z small diamet] ?9n+1 
limbs1 & b>k7 relat$ to wildfire haz>d  
r$uction or ecological =e/ managem5t )  
no alt]native options = valorization4   
7,,ii7 ,fe$/ock /udy ,= purposes ( !    
/udy describ$ 9 subclause 7,i77bb71 su* 
/udy %all-- 7aa7 assess-- 7,,aa7 !      
pot5tial risk ( ! fe$/ocks describ$ 9   
su* subclause displac+ food crop        
production1 decreas+ food crop yield1   
displac+ ! use ( =e/ residues = durable 
products1 & o!r direct & indirect l&-use
 impacts1 7,,bb7 ! impact ( use ( su*   
fe$/ocks on =e/ & agricultural soils1   
includ+ impacts on erosion & c>bon &    
nutri5t cycl+1 & 7,,cc7 ! impact ( use (
 su* fe$/ocks on biodiv]sity1 &  7bb7   

provide guidance = robu/ lifecycle      
assessm5t ( su* fe$/ocks4  7,,iii7      
,c]tification ,foll[+ ! completion ( ea*
 /udy describ$ 9 subclause 7,i71 !      
,secret>y ( ,en]gy1 9 consultation ) !  
,secret>y ( ,agriculture1 %all1 bas$ on 
! recomm5dations or evaluations ( su*   
/udy1 c]tify-- 7aa7 = purposes ( clause 
7ii77,i77bb71 any alt]nate ret5tion     
rates or be/ practices1 &  7bb7 =       
purposes ( clause 7ii77,,vii71 any      
additional s\rces = eligible biomass    
fe$/ocks4  7,c7 ,m>9e-bas$ c>bon dioxide
 removal  7i7 ,9 g5]al ,9 ! case ( any  
approa* :i* uses ! physical1 *emical1 or
 biological prop]ties ( ! ocean to      
a*ieve c>bon dioxide removal1 su*       
approa* %all use a c]tifi$ m>9e c>bon   
dioxide removal approa*4  7ii7 ,c]tifi$ 
m>9e c>bon dioxide removal approa* ,=   
purposes ( ?is subp>agraph1 ! t]m       
c]tifi$ m>9e c>bon dioxide removal      
approa* means an approa* :i*-- 7,i7     
meets ! /&>ds e/abli%$ "u clause 7iii71 
&  7,,ii7 is c]tifi$ "u clause 7iv74    

7iii7 ,/&>ds  7,i7 ,9 g5]al ,n lat] ?an 
#a ye> aft] ! date ( enactm5t ( ?is     
section1 ! ,adm9i/rator ( ! ,national   
,oceanic & ,atmosph]ic ,adm9i/ration1 9 
consultation ) ! ,adm9i/rator ( !       
,environm5tal ,protection ,ag5cy & !    
,director ( ! ,bureau ( ,ocean ,en]gy   
,managem5t1 %all e/abli% sci5ce-bas$    
environm5tal safety /&>ds :i* apply to  
all qualify+ c>bon dioxide removal      
approa*es :i* use ! physical1 *emical1  
or biological prop]ties ( ! ocean to    
a*ieve c>bon dioxide removal1 ) su*     
/&>ds z w ensure t an approa* is n      
likely to h significant adv]se          
environm5tal impact1 :i* %all include   
acc\nt+ =-- 7aa7 ! positive & negative  
environm5tal impacts ( su* approa*      
7includ+ at-site deploym5t impacts &    
up/ream & d[n/ream impacts71  7bb7 !    
level ( c]ta9ty ) respect to ! type &   
magnitude ( su* impacts1 &  7cc7 !      
quantity & quality ( ! body ( rese>*    
relat$ to su* impacts4  7,,ii7 ,rev]sal 
( negative environm5tal impacts caus$ by

 climate *ange ,= purposes ( subclause  
7,i71 positive environm5tal impacts (   
any qualify+ c>bon dioxide removal      
approa* %all include any local rev]sal (
 negative environm5tal impacts caus$ by 
climate *ange4  7,,iii7 ,reevaluation ,n
 lat] ?an #c ye>s aft] ! e/abli%m5t ( ! 
/&>ds "u subclause 7,i71 & e #c ye>s    
!reaft]1 ! ,adm9i/rator ( ! ,national   
,oceanic & ,atmosph]ic ,adm9i/ration1 9 
consultation ) ! ,adm9i/rator ( !       
,environm5tal ,protection ,ag5cy & !    
,director ( ! ,bureau ( ,ocean ,en]gy   
,managem5t1 %all review su* /&>ds &1    
pursuant to ! requirem5ts "u su*        
subclause1 update su* /&>ds z necess>y4 
7iv7 ,c]tification ,n lat] ?an #a ye>   
aft] ! date ( enactm5t ( ?is section & e
 #b ye>s !reaft]1 ! ,adm9i/rator ( !    
,national ,oceanic & ,atmosph]ic        
,adm9i/ration1 9 consultation ) !       
,adm9i/rator ( ! ,environm5tal          
,protection ,ag5cy & ! ,director ( !    
,bureau ( ,ocean ,en]gy ,managem5t1 %all
 c]tify any approa* :i* satisfies !     

/&>ds e/abli%$ "u clause 7iii74  7#e7   
,qualify+ c>bon dioxide removal project 
,! t]m qualify+ c>bon dioxide removal   
project means a project-- 7,a7 :i*-- 7i7
 is own$ by ! taxpay]1  7ii7 is engag$ 9
 c>bon dioxide removal ?r\gh use ( a    
qualify+ c>bon dioxide removal approa*1 
&  7iii7 is plac$ 9 s]vice at an        
e/abli%$ location or set ( locations1 & 
7,b7 ! con/ruction ( :i* beg9s be=e     
,janu>y #a1 #bjce4  7d7 ,selection (    
qualify+ c>bon dioxide removal approa*es
  7#a7 ,9 g5]al ,n lat] ?an #a ye> aft] 
date ( enactm5t ( ?is section1 !        
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy1 %all e/abli% a selection      
process to det]m9e qualify+ c>bon       
dioxide removal approa*es pursuant to ! 
requirem5ts 9 subsection 7c77#d74  7#b7 
,initial li/ ,n lat] ?an #ah mon?s aft] 
date ( enactm5t ( ?is section1 !        
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy1 %all1 pursuant to ! process   
describ$ 9 p>agraph 7#a71 compile &     
publi% an initial li/ ( qualify+ c>bon  

dioxide removal approa*es accord+ to    
requirem5ts 9 subsection 7c77#d74  7#c7 
,update ,n lat] ?an #a ye> aft] !       
publication ( ! li/ describ$ 9 p>agraph 
7#b7 & annually !reaft]1 ! ,secret>y1 9 
consultation ) ! ,secret>y ( ,en]gy1    
%all1 pursuant to ! process describ$ 9  
p>agraph 7#a71 compile & publi% any     
additional qualify+ c>bon dioxide       
removal approa*es accord+ to requirem5ts
 9 subsection 7c77#d74  7e7 ,det]m9ation
 ( am\nt ( net c>bon dioxide removal    
7#a7 ,9 g5]al ,n lat] ?an #a ye> aft]   
date ( enactm5t ( ?is section1 !        
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ! ,adm9i/rator ( !           
,environm5tal ,protection ,ag5cy1 %all  
e/abli% a process = taxpay]s to det]m9e 
& publicly report net c>bon dioxide     
removal ?r\gh a qualify+ c>bon dioxide  
removal project1 z det]m9$ bas$ on--    
7,a7 project-level gre5h\se gas         
lifecycle analysis1 &  7,b7             
project-level monitor+1 report+1 &      
v]ification4  7#b7 ,lifecycle analysis  

,= purposes ( p>agraph 7#a77;,a71 !     
project-level gre5h\se gas lifecycle    
analysis %all-- 7,a7 be bas$ on         
protocols :i* are subject to su*        
requirem5ts z are det]m9$ by !          
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ,adm9i/rator ( !             
,environm5tal ,protection ,ag5cy1 to be 
appropriate1  7,b7 include all processes
 & activities associat$ ) ! capture &   
/orage ( c>bon dioxide1 includ+-- 7i7   
any mass & en]gy inputs & outputs f raw 
mat]ials1 includ+ biomass fe$/ocks1     
manufacture1 transport1 /orage1 sale1   
use & disposal1  7ii7 l& use *ange & o!r
 ecosy/em p]turbations1 &  7iii7        
long-t]m ret5tion ( c>bon dioxide1  7,c7
 calculate net c>bon dioxide removal1   
includ+ acc\nt+ = unc]ta9ty associat$ ) 
! e/imate ( net c>bon dioxide removal1 &
  7,d7 only exclude any process f su*   
analysis if su* process does n          
significantly *ange ! outcome ( su*     
analysis1 ) su* exclusion to be not$ &  
ju/ifi$4  7#c7 ,monitor+1 report+1 &    

v]ification ,= purposes ( p>agraph      
7#a77;,b71 ! project-level monitor+1    
report+1 & v]ification %all-- 7,a7 be   
bas$ on protocols :i* are subject to su*
 requirem5ts z are det]m9$ by !         
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ! ,adm9i/rator ( !           
,environm5tal ,protection ,ag5cy1 to be 
appropriate1  7,b7 include ! use (      
indep5d5t ?ird-p>ty v]ifi]s 7z c]tifi$  
by ! ,secret>y71 &  7,c7 quantify       
unc]ta9ty associat$ ) measurem5ts & !   
result+ e/imate ( net c>bon dioxide     
removal4  7#d7 ,goals ,! process        
e/abli%$ "u p>agraph 7#a7 %all seek to--
 7,a7 to ! greate/ ext5t possible1      
id5tify be/ available tools1 models1 or 
default values = embodi$ emissions 9    
ord] to facilitate consi/5cy &          
comp>ability across qualifi$ c>bon      
dioxide removal approa*es ) respect to--
 7i7 project-level gre5h\se gas         
lifecycle analysis1  7ii7 project-level 
monitor+1 report+1 & v]ification1 &     
7iii7 det]m9ation ( net c>bon dioxide   

removal1  7,b7 include report+          
requirem5ts :i* facilitate transp>5cy & 
evaluation ( ! net c>bon dioxide removal
 claim$ by ! taxpay]1 &  7,c7 take into 
acc\nt be/ practices f o!r c>bon dioxide
 removal acc\nt+ programs 9 ord] to     
m9imize ineffici5cies & conflict+       
proc$ures4  7#e7 ,review  7,a7 ,9 g5]al 
,n lat] ?an #c ye>s aft] date ( enactm5t
 ( ?is section1 & e #c ye>s !reaft]1 !  
,secret>y1 9 consultation ) ! ,secret>y 
( ,en]gy & ! ,adm9i/rator ( !           
,environm5tal ,protection ,ag5cy-- 7i7  
%all conduct an panel-bas$ review by    
ext]nal exp]ts 7:i* may include         
repres5tatives f gov]nm5t1 academia1    
civil society1 & ! private sector7 ( !  
process e/abli%$ "u p>agraph 7#a7 to    
improve ! requirem5ts = gre5h\se gas    
lifecycle analysis & monitor+1 report+1 
& v]ification bas$ on ! be/ available   
sci5ce at ! "t ( su* review1 &  7ii7    
bas$ on ! review describ$ 9 clause 7i71 
may adju/ any requirem5ts applicable "u 
?is subsection4  7,b7 ,application (    

updat$ requirem5ts ,any adju/m5t "u     
subp>agraph 7,a77ii7 ) respect to       
det]m9ation ( net c>bon dioxide removal 
%all only apply to taxable ye>s beg9n+  
aft] ! date ( su* adju/m5t4  7f7        
,special rules  7#a7 ,only c>bon dioxide
 removal )9 ! ,unit$ ,/ates tak5 into   
acc\nt ,! cr$it "u ?is section %all     
apply only ) respect to c>bon dioxide   
removal :i* is )9-- 7,a7 ! ,unit$ ,/ates
 7)9 ! mean+ ( section #fch7a771  7,b7 a
 possession ( ! ,unit$ ,/ates 7)9 !     
mean+ ( section #fch7b771 or  7,c7 any  
m>9e environm5t :i* is subject to       
regulation by ! ,unit$ ,/ates4  7#b7    
,own]%ip int]e/s ,9 ! case ( a qualify+ 
c>bon dioxide removal project 9 :i* m   
?an #a p]son has an own]%ip int]e/1     
except to ! ext5t provid$ 9 regulations 
prescrib$ by ! ,secret>y1 net c>bon     
dioxide removal a*iev$ by su* project   
%all be allocat$ among su* p]sons 9     
proportion to _! respective own]%ip     
int]e/s ) respect to ! gross net c>bon  
dioxide removal f su* project4  7#c7    

,coord9ation ) o!r cr$its  7,a7 ,c>bon  
oxide seque/ration cr$it ,no cr$it %all 
be all[$ "u ?is section ) respect to any
 qualify+ c>bon dioxide removal project 
= any taxable ye> = :i* a cr$it det]m9$ 
"u section #de,q is all[$ "u section #ch
 = su* taxable ye>4  7,b7 ,qualify+     
advanc$ en]gy project cr$it ,no cr$it   
%all be all[$ "u ?is section ) respect  
to any qualify+ c>bon dioxide removal   
project = :i* a cr$it det]m9$ "u section
 #dh;,c is all[$ "u section #ch = !     
taxable ye> or any prior taxable ye>4   
7,c7 ,special rule = qualifi$ c>bon     
dioxide removal projects integrat$ )    
clean en]gy g5]ation  7i7 ,9 g5]al ,9 ! 
case ( any qualify+ c>bon dioxide       
removal project :i* produces            
electricity1 hydrog51 or fuel z an      
output ( its qualify+ c>bon dioxide     
removal approa*1 no cr$it %all be all[$ 
) respect to su* electricity1 hydrog51  
or fuel "u section #dj;,b1 #de1 #de,v1  
#de,y1 or #de,z unless su* electricity1 
hydrog51 or fuel is consum$ by su*      

qualify+ c>bon dioxide removal project4 
7ii7 ,en]gy cr$it & clean electricity   
inve/m5t cr$it ,9 ! case ( any qualify+ 
c>bon dioxide removal project :i*       
includes-- 7,i7 any en]gy prop]ty 7z    
def9$ 9 section #dh7;a77#c77 :i*        
produces electricity or hydrog5 f !     
process ( c>bon dioxide removal1 or     
7,,ii7 any qualifi$ facility 7z def9$ 9 
section #dh;,e7b77#c77 :i* produces     
electricity or hydrog5 f ! process (    
c>bon dioxide removal1  no cr$it %all be
 all[$ "u section #dh or #dh;,e )       
respect to su* en]gy prop]ty or qualifi$
 facility4  4  7b7 ,elective paym5t &   
transf] ( cr$it  7#a7 ,elective paym5t  
,section #fdag ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$-- 7,a7 9         
subsection 7b7-- 7i7 by designat+       
p>agraphs 7#aj7 ?r\gh 7#ab7 z p>agraphs 
7#aa7 ?r\gh 7#ac71 respectively1 &  7ii7
 by ins]t+ aft] p>agraph 7#i7 ! foll[+3 
7#aj7 ,! c>bon dioxide removal cr$it "u 
section #de;,,bb4  1 &  7,b7 9          
subsection 7d77#a7-- 7i7 9 subp>agraph  

7,e71 by /rik+ 7,c71 or 7,d7 ea* place x
 appe>s & ins]t+ 7,c71 7,d71 or 7,e71   
7ii7 by r$esignat+ subp>agraph 7,e7 7z  
am5d$ by clause 7i77 z subp>agraph 7,f71
 &  7iii7 by ins]t+ aft] subp>agraph    
7,d7 ! foll[+3  7,e7 ,election ) respect
 to c>bon dioxide removal cr$it  7i7 ,9 
g5]al ,if a taxpay] o!r ?an an entity   
describ$ 9 subp>agraph 7,a7 makes an    
election "u ?is subp>agraph ) respect to
 any taxable ye> 9 :i* su* taxpay] has1 
aft] ,decemb] #ca1 #bjbd1 plac$ 9 s]vice
 any qualify+ c>bon dioxide removal     
project 7z def9$ 9 section #de;,,bb7c771
 su* taxpay] %all be treat$ z an        
applicable entity = purposes ( ?is      
section = su* taxable ye>1 b only )     
respect to ! cr$it describ$ 9 subsection
 7b77#aj74  7ii7 ,limitation  7,i7 ,9   
g5]al ,except z provid$ 9 subclause     
7,,ii71 if a taxpay] makes an election  
"u ?is subp>agraph ) respect to any     
taxable ye>1 su* taxpay] %all be treat$ 
z hav+ made su* election = ea* ( ! #aa  
succe$+ taxable ye>s4  7,,ii7 ,exception

 ,a taxpay] may elect to revoke !       
application ( ! election made "u ?is    
subp>agraph to any taxable ye> describ$ 
9 subclause 7,i74 ,any su* election1 if 
made1 %all apply to ! applicable ye>    
specifi$ 9 su* election & ea* subsequ5t 
taxable ye> )9 ! p]iod describ$ 9       
subclause 7,i74 ,any election "u ?is    
subclause may n be subsequ5tly revok$4  
4  7#b7 ,transf] ,section               
#fdah7;f77#a77;,a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+3  7xii7 ,! c>bon dioxide       
removal cr$it "u section #de;,,bb4  4   
7c7 ,cr$it ,to be "p ( g5]al bus9ess    
cr$it ,section #ch7;b7 ( ! ,int]nal     
,rev5ue ,code ( #aihf1 z am5d$ by       
sections #acaje1 #acgja1 & #acgjd (     
,public ,law #aag-afi1 is am5d$ by /rik+
 plus at ! end ( p>agraph 7#dj71 by     
/rik+ ! p]iod at ! end ( p>agraph 7#da7 
& ins]t+ 1 plus1 & by add+ at ! end !   
foll[+ new p>agraph3  7#db7 ! c>bon     
dioxide removal cr$it det]m9$ "u section
 #de;,,bb7a74  4  7d7 ,con=m+ am5dm5t ,!

 table ( sections = subp>t ,d ( "p ,,iv 
( sub*apt] ,a ( *apt] #a ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] ! item relat+ to section #de;,,aa 
! foll[+ new item3  ,sec4 #de;,,bb4     
,te*nology-neutral cr$it = c>bon dioxide
 removal4  4  7e7 ,effective date ,!    
am5dm5ts made by ?is ,act %all apply to 
prop]ty plac$ 9 s]vice aft] ,decemb]    
#ca1 #bjbd4