End Polluter Welfare for Enhanced Oil Recovery Act of 2026

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