[Congressional Record Volume 171, Number 112 (Saturday, June 28, 2025)]
[Senate]
[Page S4004]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2532. Mr. KELLY submitted an amendment intended to be proposed to 
amendment SA 2360 proposed by Mr. Thune (for Mr. Graham) to the bill 
H.R. 1, to provide for reconciliation pursuant to title II of H. Con. 
Res. 14; which was ordered to lie on the table; as follows:

       Strike sections 70522 and 70523 and insert the following:

     SEC. 70522. RESTRICTIONS ON CARBON OXIDE SEQUESTRATION 
                   CREDIT.

       (a) Restrictions Relating to Prohibited Foreign Entities.--
     Section 45Q(f) is amended by adding at the end the following 
     new paragraph:
       ``(10) Restrictions relating to prohibited foreign 
     entities.--No credit shall be determined under subsection (a) 
     for any taxable year beginning after the date of enactment of 
     this paragraph if the taxpayer is--
       ``(A) a specified foreign entity (as defined in section 
     7701(a)(51)(B)), or
       ``(B) a foreign-influenced entity (as defined in section 
     7701(a)(51)(D), determined without regard to clause (i)(II) 
     thereof).''.
       (b) Effective Dates.--The amendment made by subsection (a) 
     shall apply to taxable years beginning after the date of 
     enactment of this Act.
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