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136 STAT. 1924 PUBLIC LAW 117–169—AUG. 16, 2022 for such calendar year, subject to the limitation imposed by the last sentence of such subparagraph. ‘‘(5) RECAPTURE.—The Secretary shall, by regulations or other guidance, provide for recapturing the benefit of any increase in the credit allowed under subsection (a) by reason of this subsection with respect to any property which ceases to be property eligible for such increase (but which does not cease to be investment credit property within the meaning of section 50(a)). The period and percentage of such recapture shall be determined under rules similar to the rules of section 50(a). To the extent provided by the Secretary, such recapture may not apply with respect to any property if, within 12 months after the date the taxpayer becomes aware (or reasonably should have become aware) of such property ceasing to be property eligible for such increase, the eligibility of such prop- erty for such increase is restored. The preceding sentence shall not apply more than once with respect to any facility.’’. (b) EFFECTIVE DATE.—The amendments made by this section shall take effect on January 1, 2023. SEC. 13104. EXTENSION AND MODIFICATION OF CREDIT FOR CARBON OXIDE SEQUESTRATION. (a) MODIFICATION OF CARBON OXIDE CAPTURE REQUIRE- MENTS.— (1) IN GENERAL.—Section 45Q(d) is amended to read as follows: ‘‘(d) QUALIFIED FACILITY.—For purposes of this section, the term ‘qualified facility’ means any industrial facility or direct air capture facility— ‘‘(1) the construction of which begins before January 1, 2033, and either— ‘‘(A) construction of carbon capture equipment begins before such date, or ‘‘(B) the original planning and design for such facility includes installation of carbon capture equipment, and ‘‘(2) which— ‘‘(A) in the case of a direct air capture facility, captures not less than 1,000 metric tons of qualified carbon oxide during the taxable year, ‘‘(B) in the case of an electricity generating facility— ‘‘(i) captures not less than 18,750 metric tons of qualified carbon oxide during the taxable year, and ‘‘(ii) with respect to any carbon capture equipment for the applicable electric generating unit at such facility, has a capture design capacity of not less than 75 percent of the baseline carbon oxide production of such unit, or ‘‘(C) in the case of any other facility, captures not less than 12,500 metric tons of qualified carbon oxide during the taxable year.’’. (2) DEFINITIONS.— (A) IN GENERAL.—Section 45Q(e) is amended— (i) by redesignating paragraphs (1) through (3) as paragraphs (3) through (5), respectively, and (ii) by inserting after ‘‘For purposes of this sec- tion—’’ the following new paragraphs: Effective date. Definition. 26 USC 45Q. 26 USC 48 note. Determination. Time period. Regulations. Guidelines. VerDate Sep 11 2014 13:57 Oct 25, 2022 Jkt 029139 PO 00169 Frm 00108 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL169.117 PUBL169 jmbennett on LAP3P8D0R2PROD with Publaw