Carbon Capture and Sequestration Expansion Act
This bill extends through 2031 the tax credit for carbon oxide sequestration. It also modifies carbon oxide capture requirements.
To amend the Internal Revenue Code of 1986 to extend and modify the 
     credit for carbon oxide sequestration, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Carbon Capture and Sequestration 
Expansion Act''.

SEC. 2. EXTENSION AND MODIFICATION OF CREDIT FOR CARBON OXIDE 
              SEQUESTRATION.

    (a) Extension.--Section 45Q(d)(1) is amended by striking ``January 
1, 2026'' and inserting ``January 1, 2032''.
    (b) Modification of Carbon Oxide Capture Requirements.--Section 
45Q(d)(2) is amended to read as follows:
            ``(2) which captures--
                    ``(A) in the case of a direct air capture facility, 
                not less than 10,000 metric tons of qualified carbon 
                oxide during the taxable year,
                    ``(B) in the case of an electricity generating 
                facility, not less than 18,750 metric tons of qualified 
                carbon oxide during the taxable year and not less than 
                75 percent of the carbon oxide that would otherwise be 
                released into the atmosphere by such facility during 
                such taxable year, and
                    ``(C) in the case of any other facility, not less 
                than 12,500 metric tons of qualified carbon oxide 
                during the taxable year and not less than 50 percent of 
                the carbon oxide that would otherwise be released into 
                the atmosphere by such facility during such taxable 
                year.''.
    (c) Effective Dates.--
            (1) Extension.--The amendment made by subsection (a) shall 
        apply to facilities the construction of which begins after 
        December 31, 2025.
            (2) Other amendments.--The amendments made by subsection 
        (b) shall apply to taxable years beginning after December 31, 
        2021.
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Carbon Capture and Sequestration Expansion Act
To amend the Internal Revenue Code of 1986 to extend and modify the credit for carbon oxide sequestration, and for other purposes.
Carbon Capture and Sequestration Expansion Act
Rep. Sewell, Terri A.