To amend the Internal Revenue Code of 1986 to allow a credit for carbon dioxide captured from anthropogenic industrial sources and used as a tertiary injectant in enhanced oil and natural gas recovery.

H.R. 1128 proposes a new federal tax credit for businesses that capture carbon dioxide from industrial facilities, such as ethanol or fertilizer plants, and repurpose it for energy production. Instead of being released into the atmosphere as a greenhouse gas, the captured carbon would be transported via pipeline and injected into the ground to help extract oil and natural gas from older or difficult-to-reach wells.

For citizens, this bill aims to incentivize domestic energy production and reduce industrial emissions by making carbon capture technology more financially viable for companies. To qualify for the tax credit, the carbon dioxide must be measured at the source and permanently stored underground as a result of the recovery process. This legislation seeks to balance industrial activity with environmental management by encouraging the reuse of waste gases for energy needs.