12 2 STA T .38 3 0PUBLIC LA W 110 – 3 4 3 —O CT. 3 , 2008 ‘ ‘ (A)would o ther w is e b e rele a sed i n to the at m os p here as industrial emission o fg reenhouse gas , and ‘‘( B ) is measured at the sour c e of capture and v erified at the point of disposal or in j ection . ‘‘( 2 ) RECY C L E D C ARBON D I O X IDE. —T he term ‘ q ualified carbon dio x ide ’ includes the initial deposit of captured carbon dioxide used as a tertiar y injectant. S uch term does not include carbon dioxide that is re - captured, recycled, and re-injected as part of the enhanced oil and natural gas recovery process. ‘‘(c) QU ALI F IED F ACILI T Y.—For purposes of this section, the term ‘qualified facility’ means any industrial facility— ‘‘( 1 ) which is owned by the taxpayer, ‘‘(2) at which carbon capture equipment is placed in service, and ‘‘( 3 ) which captures not less than 50 0,000 metric tons of carbon dioxide during the taxable year. ‘‘(d) S P ECIAL RULE S AND O T H ER D EFINITIONS.—For purposes of this section— ‘‘(1) ONLY CARBON DIOXIDE CAPTURED AND DISPOSED OF OR USED W ITHIN THE UNITED STATES TA K EN INTO ACCOUNT.— The credit under this section shall apply only with respect to qualified carbon dioxide the capture and disposal or use of which is within— ‘‘(A) the U nited States (within the meaning of section 6 3 8 (1)), or ‘‘(B) a possession of the United States (within the meaning of section 638(2)). ‘‘(2) SECURE G EOLOGICAL STORAGE.—The Secretary, in con- sultation with the Administrator of the E nvironmental P rotec- tion Agency, shall establish regulations for determining ade- quate security measures for the geological storage of carbon dioxide under subsection (a)(1)(B) such that the carbon dioxide does not escape into the atmosphere. Such term shall include storage at deep saline formations and unminable coal seems under such conditions as the Secretary may determine under such regulations. ‘‘(3) TERTIARY IN J ECTANT.—The term ‘tertiary injectant’ has the same meaning as when used within section 1 9 3(b)(1). ‘‘( 4 ) QUALIFIED ENHANCED OIL OR NATURAL GAS RECO V ERY PROJECT.—The term ‘qualified enhanced oil or natural gas recovery project’ has the meaning given the term ‘qualified enhanced oil recovery project’ by section 43(c)(2), by substituting ‘crude oil or natural gas’ for ‘crude oil’ in subparagraph (A)(i) thereof. ‘‘(5) C REDIT ATTRIBUTABLE TO TAXPAYER.—Any credit under this section shall be attributable to the person that captures and physically or contractually ensures the disposal of or the use as a tertiary injectant of the qualified carbon dioxide, except to the extent provided in regulations prescribed by the Secretary. ‘‘(6) RECAPTURE.—The Secretary shall, by regulations, pro- vide for recapturing the benefit of any credit allowable under subsection (a) with respect to any qualified carbon dioxide which ceases to be captured, disposed of, or used as a tertiary injectant in a manner consistent with the requirements of this section. Regulations. Regulations.
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