26 U.S.C. § 45P — Employer wage credit for employees who

Page 294 TITLE 26—INTERNAL REVENUE CODE § 45P pose of protecting any specified agricultural chemical and for other purposes, and (2) provide for the treatment of related prop- erties as one facility for purposes of sub- section (b). (i) Termination This section shall not apply to any amount paid or incurred after December 31, 2012. (Added Pub. L. 110–234, title XV, § 15343(a), May 22, 2008, 122 Stat. 1518, and Pub. L. 110–246, § 4(a), title XV, § 15343(a), June 18, 2008, 122 Stat. 1664, 2280.) Editorial Notes REFERENCES IN TEXT Section 302(a)(2) of the Emergency Planning and Community Right-to-Know Act of 1986, referred to in subsec. (f)(1)(A), is classified to section 11002(a)(2) of Title 42, The Public Health and Welfare. Section 2(u) of the Federal Insecticide, Fungicide, and Rodenticide Act, referred to in subsec. (f)(2), is classified to section 136(u) of Title 7, Agriculture. CODIFICATION Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, except as other- wise provided, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of Title 7, Agriculture. Section applicable to amounts paid or incurred after June 18, 2008, see section 15343(e) of Pub. L. 110–246, set out as an Effective Date of 2008 Amendment note under section 38 of this title. § 45P. Employer wage credit for employees who are active duty members of the uniformed services (a) General rule For purposes of section 38, the differential wage payment credit for any taxable year is an amount equal to 20 percent of the sum of the eli- gible differential wage payments for each of the qualified employees of the taxpayer during such taxable year. (b) Definitions For purposes of this section— (1) Eligible differential wage payments The term ‘‘eligible differential wage pay- ments’’ means, with respect to each qualified employee, so much of the differential wage payments (as defined in section 3401(h)(2)) paid to such employee for the taxable year as does not exceed $20,000. (2) Qualified employee The term ‘‘qualified employee’’ means a per- son who has been an employee of the taxpayer for the 91-day period immediately preceding the period for which any differential wage pay- ment is made. (3) Controlled groups All persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 shall be treated as a single employer. (c) Coordination with other credits The amount of credit otherwise allowable under this chapter with respect to compensation paid to any employee shall be reduced by the credit determined under this section with re- spect to such employee. (d) Disallowance for failure to comply with em- ployment or reemployment rights of mem- bers of the reserve components of the Armed Forces of the United States No credit shall be allowed under subsection (a) to a taxpayer for— (1) any taxable year, beginning after the date of the enactment of this section, in which the taxpayer is under a final order, judgment, or other process issued or required by a dis- trict court of the United States under section 4323 of title 38 of the United States Code with respect to a violation of chapter 43 of such title, and (2) the 2 succeeding taxable years. (e) Certain rules to apply For purposes of this section, rules similar to the rules of subsections (c), (d), and (e) of sec- tion 52 shall apply. (Added Pub. L. 110–245, title I, § 111(a), June 17, 2008, 122 Stat. 1634; amended Pub. L. 111–312, title VII, § 736(a), Dec. 17, 2010, 124 Stat. 3318; Pub. L. 112–240, title III, § 308(a), Jan. 2, 2013, 126 Stat. 2329; Pub. L. 113–295, div. A, title I, § 118(a), Dec. 19, 2014, 128 Stat. 4015; Pub. L. 114–113, div. Q, title I, § 122(a), (b), Dec. 18, 2015, 129 Stat. 3052.) Editorial Notes REFERENCES IN TEXT The date of the enactment of this section, referred to in subsec. (d)(1), is the date of the enactment of Pub. L. 110–245, which was approved June 17, 2008. AMENDMENTS 2015—Subsec. (a). Pub. L. 114–113, § 122(b)(1), struck out ‘‘, in the case of an eligible small business em- ployer’’ after ‘‘section 38’’. Subsec. (b)(3). Pub. L. 114–113, § 122(b)(2), amended par. (3) generally. Prior to amendment, par. (3) defined ‘‘eli- gible small business employer’’. Subsec. (f). Pub. L. 114–113, § 122(a), struck out subsec. (f). Text read as follows: ‘‘This section shall not apply to any payments made after December 31, 2014.’’ 2014—Subsec. (f). Pub. L. 113–295 substituted ‘‘Decem- ber 31, 2014’’ for ‘‘December 31, 2013’’. 2013—Subsec. (f). Pub. L. 112–240 substituted ‘‘Decem- ber 31, 2013’’ for ‘‘December 31, 2011’’. 2010—Subsec. (f). Pub. L. 111–312 substituted ‘‘Decem- ber 31, 2011’’ for ‘‘December 31, 2009’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2015 AMENDMENT Pub. L. 114–113, div. Q, title I, § 122(c), Dec. 18, 2015, 129 Stat. 3052, provided that: ‘‘(1) EXTENSION.—The amendment made by subsection (a) [amending this section] shall apply to payments made after December 31, 2014. ‘‘(2) MODIFICATION.—The amendments made by sub- section (b) [amending this section] shall apply to tax- able years beginning after December 31, 2015.’’ EFFECTIVE DATE OF 2014 AMENDMENT Pub. L. 113–295, div. A, title I, § 118(b), Dec. 19, 2014, 128 Stat. 4015, provided that: ‘‘The amendment made by Page 295 TITLE 26—INTERNAL REVENUE CODE § 45Q this section [amending this section] shall apply to pay- ments made after December 31, 2013.’’ EFFECTIVE DATE OF 2013 AMENDMENT Pub. L. 112–240, title III, § 308(b), Jan. 2, 2013, 126 Stat. 2329, provided that: ‘‘The amendment made by this sec- tion [amending this section] shall apply to payments made after December 31, 2011.’’ EFFECTIVE DATE OF 2010 AMENDMENT Pub. L. 111–312, title VII, § 736(b), Dec. 17, 2010, 124 Stat. 3318, provided that: ‘‘The amendment made by this section [amending this section] shall apply to pay- ments made after December 31, 2009.’’ EFFECTIVE DATE Section applicable to amounts paid after June 17, 2008, see section 111(e) of Pub. L. 110–245, set out as an Effective Date of 2008 Amendment note under section 38 of this title. § 45Q. Credit for carbon oxide sequestration (a) General rule For purposes of section 38, the carbon oxide se- questration 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 be- fore the date of the enactment of the Bipar- tisan Budget Act of 2018, and (B) disposed of by the taxpayer in secure geological storage and not used by the tax- payer 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 be- fore the date of the enactment of the Bipar- tisan Budget Act of 2018, and (B)(i) used by the taxpayer as a tertiary injectant in a qualified enhanced oil or nat- ural gas recovery project and disposed of by the taxpayer in secure geological storage, or (ii) utilized by the taxpayer in a manner described in subsection (f)(5), (3) the applicable dollar amount (as deter- mined under subsection (b)(1)) 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 on or after the date of the enactment of the Bipar- tisan Budget Act of 2018, during the 12-year period beginning on the date the equipment was originally placed in service, and (B) disposed of by the taxpayer in secure geological storage and not used by the tax- payer as described in paragraph (4)(B), and (4) the applicable dollar amount (as deter- mined under subsection (b)(1)) 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 on or after the date of the enactment of the Bipar- tisan Budget Act of 2018, during the 12-year period beginning on the date the equipment was originally placed in service, and (B)(i) used by the taxpayer as a tertiary injectant in a qualified enhanced oil or nat- ural gas recovery project and disposed of by the taxpayer in secure geological storage, or (ii) utilized by the taxpayer in a manner described in subsection (f)(5). (b) Applicable dollar amount; additional equip- ment; election (1) Applicable dollar amount (A) In general Except as provided in subparagraph (B) or (C), the applicable dollar amount shall be an amount equal to— (i) for any taxable year beginning in a calendar year after 2016 and before 2027— (I) for purposes of paragraph (3) of sub- section (a), $17, and (II) for purposes of paragraph (4) of such subsection, $12, and (ii) for any taxable year beginning in a calendar year after 2026— (I) for purposes of paragraph (3) of sub- section (a), an amount equal to the prod- uct of $17 and the inflation adjustment factor for such calendar year determined under section 43(b)(3)(B) for such cal- endar year, determined by substituting ‘‘2025’’ for ‘‘1990’’, and (II) for purposes of paragraph (4) of such subsection, an amount equal to the product of $12 and the inflation adjust- ment factor for such calendar year deter- mined under section 43(b)(3)(B) for such calendar year, determined by sub- stituting ‘‘2025’’ for ‘‘1990’’. (B) Special rule for direct air capture facili- ties In the case of any qualified facility de- scribed in subsection (d)(2)(A) which is placed in service after December 31, 2022, the applicable dollar amount shall be an amount equal to the applicable dollar amount other- wise determined with respect to such quali- fied facility under subparagraph (A), except that such subparagraph shall be applied— (i) by substituting ‘‘$36’’ for ‘‘$17’’ each place it appears, and (ii) by substituting ‘‘$26’’ for ‘‘$12’’ each place it appears. (C) Applicable dollar amount for additional carbon capture equipment In the case of any qualified facility which is placed in service before January 1, 2023, if any additional carbon capture equipment is installed at such facility and such equip- ment is placed in service after December 31, 2022, the applicable dollar amount shall be an amount equal to the applicable dollar amount otherwise determined under this paragraph, except that subparagraph (B) shall be applied— (i) by substituting ‘‘before January 1, 2023’’ for ‘‘after December 31, 2022’’, and (ii) by substituting ‘‘the additional car- bon capture equipment installed at such qualified facility’’ for ‘‘such qualified fa- cility’’.