TITLE 26.
INTERNAL REVENUE CODE
§ 45Q.
Credit for carbon oxide sequestration., 26 USCS § 45Q
Summary
(a) General rule. For purposes of section 38 [26 USCS § 38], the carbon oxide sequestration credit for any taxable year is an amount equal to the sum of—
(1)$20 per metric ton of qualified carbon oxide which is—
(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 [enacted Feb. 9, 2018], and
(B)disposed of by the taxpayer in secure geological storage and not used by the taxpayer as described in paragraph (2)(B),
(2)$10 per metric ton of qualified carbon oxide which is—
(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 [enacted Feb. 9, 2018], and
(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