Public Law 111–5 111th Congress An Act - Loan Programs Office

PUBLIC LAW 111–5—FEB. 17, 2009
123 STAT. 325
SEC. 1123. TEMPORARY INCREASE IN CREDIT FOR ALTERNATIVE FUEL
VEHICLE REFUELING PROPERTY.
(a) IN GENERAL.—Section 30C(e) is amended by adding at the
end the following new paragraph:
‘‘(6) SPECIAL RULE FOR PROPERTY PLACED IN SERVICE DURING
2009 AND 2010.—In the case of property placed in service in
taxable years beginning after December 31, 2008, and before
January 1, 2011—
‘‘(A) in the case of any such property which does not
relate to hydrogen—
‘‘(i) subsection (a) shall be applied by substituting
‘50 percent’ for ‘30 percent’,
‘‘(ii) subsection (b)(1) shall be applied by substituting
‘$50,000’ for ‘$30,000’, and
‘‘(iii) subsection (b)(2) shall be applied by substituting
‘$2,000’ for ‘$1,000’, and
‘‘(B) in the case of any such property which relates
to hydrogen, subsection (b)(1) shall be applied by substituting
‘$200,000’ for ‘$30,000’.’’.
(b) EFFECTIVE DATE.—The amendment made by this section
shall apply to taxable years beginning after December 31, 2008.
26 USC 30C.
Applicability.
26 USC 30C note.
PART IV—MODIFICATION OF CREDIT FOR
CARBON DIOXIDE SEQUESTRATION
SEC. 1131. APPLICATION OF MONITORING REQUIREMENTS TO CARBON
DIOXIDE USED AS A TERTIARY INJECTANT.
(a) IN GENERAL.—Section 45Q(a)(2) is amended by striking
‘‘and’’ at the end of subparagraph (A), by striking the period at
the end of subparagraph (B) and inserting ‘‘, and’’, and by adding
at the end the following new subparagraph:
‘‘(C) disposed of by the taxpayer in secure geological
storage.’’.
(b) CONFORMING AMENDMENTS.—
(1) Section 45Q(d)(2) is amended—
(A) by striking ‘‘subsection (a)(1)(B)’’ and inserting
‘‘paragraph (1)(B) or (2)(C) of subsection (a)’’,
(B) by striking ‘‘and unminable coal seems’’ and
inserting ‘‘, oil and gas reservoirs, and unminable coal
seams’’, and
(C) by inserting ‘‘the Secretary of Energy, and the
Secretary of the Interior,’’ after ‘‘Environmental Protection
Agency’’.
(2) Section 45Q(a)(1)(B) is amended by inserting ‘‘and not
used by the taxpayer as described in paragraph (2)(B)’’ after
‘‘storage’’.
(3) Section 45Q(e) is amended by striking ‘‘captured and
disposed of or used as a tertiary injectant’’ and inserting ‘‘taken
into account in accordance with subsection (a)’’.
(c) EFFECTIVE DATE.—The amendments made by this section
shall apply to carbon dioxide captured after the date of the enactment
of this Act.
26 USC 45Q
note.
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