S4222
Referred to committee
End Polluter Welfare for Enhanced Oil Recovery Act of 2026
- Federal
- Senate
- Introduced Mar 26, 2026
- Session 119
Bill Text
Version ISThis Act may be cited as the End Polluter Welfare for Enhanced Oil Recovery Act of 2026.
Section 45Q(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
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.
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 43.
Section 38(b) of such Code is amended by striking paragraph (6).
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).
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.
Section 45Q of such Code is amended—
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
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).
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.
Section 6501(m) of such Code is amended by striking 43,.
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.
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
Section 45Q(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
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.
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 43.
Section 38(b) of such Code is amended by striking paragraph (6).
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).
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.
Section 45Q of such Code is amended—
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
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).
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.
Section 6501(m) of such Code is amended by striking 43,.
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.
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
Legislative Timeline
2 actions-
Introduced in Senate
-
Read twice and referred to the Committee on Finance.