[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4222 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 4222

 To amend the Internal Revenue Code of 1986 to provide for an end date 
   for the credit for certain qualified carbon oxide, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 26, 2026

 Mr. Merkley (for himself, Mr. Van Hollen, Mr. Markey, Mr. Booker, Mr. 
Sanders, and Ms. Warren) introduced the following bill; which was read 
             twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide for an end date 
   for the credit for certain qualified carbon oxide, 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 ``End Polluter Welfare for Enhanced 
Oil Recovery Act of 2026''.

SEC. 2. ELIMINATION OF USE OF CARBON OXIDE AS TERTIARY INJECTANT.

    (a) In General.--Section 45Q(f) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new paragraph:
            ``(11) Elimination of use of carbon oxide as tertiary 
        injectant.--In the case of any qualified facility the 
        construction of which begins after the date of the enactment of 
        the End Polluter Welfare for Enhanced Oil Recovery Act of 2026, 
        subsection (a)(3)(B)(ii) shall not apply.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

SEC. 3. ENHANCED OIL RECOVERY CREDIT.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by striking section 43.
    (b) Conforming Amendments.--
            (1) Section 38(b) of such Code is amended by striking 
        paragraph (6).
            (2) Section 45I(b)(2)(B) of such Code is amended by 
        inserting ``(as in effect on the day before the date of the 
        enactment of the End Polluter Welfare for Enhanced Oil Recovery 
        Act of 2026)'' after ``section 43(c)(3)(B)''.
            (3) Section 45K(b)(5)(A) of such Code is amended by 
        inserting ``(as in effect on the day before the date of the 
        enactment of the End Polluter Welfare for Enhanced Oil Recovery 
        Act of 2026)'' after ``section 43''.
            (4) Section 45Q of such Code is amended--
                    (A) by striking ``section 43(b)(3)(B)'' each place 
                it appears and inserting ``section 43(b)(3)(B) (as in 
                effect on the day before the date of the enactment of 
                the End Polluter Welfare for Enhanced Oil Recovery Act 
                of 2026)'', and
                    (B) in subsection (e)(4), by inserting ``(as in 
                effect on the day before the date of the enactment of 
                the End Polluter Welfare for Enhanced Oil Recovery Act 
                of 2026)'' after ``section 43(c)(2)''.
            (5) Section 196(c) of such Code is amended by striking 
        paragraph (5) and by redesignating paragraphs (6) through (14) 
        as paragraphs (5) through (13), respectively.
            (6) Section 6501(m) of such Code is amended by striking 
        ``43,''.
            (7) The table of sections for subpart D of part IV of 
        subchapter A of chapter 1 of such Code is amended by striking 
        the item relating to section 43.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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