at such facility for the taxable year, or (ii) the total amount of the carbon dioxide capture capacity of the carbon capture equipment in service at such facility on the day before the date of the enactment of the FUTURE Act , and (B) for purposes of paragraphs (3)(A) and (4)(A) of such subsection, an amount (not less than zero) equal to the excess of— (i) the amount described in clause (i) of subparagraph (A), over (ii) the amount described in clause (ii) of such subparagraph. (3) Election For purposes of determining the carbon oxide sequestration credit under this section, a taxpayer may elect to have the dollar amounts applicable under paragraph (1) or (2) of subsection (a) apply in lieu of the dollar amounts applicable under paragraph (3) or (4) of such subsection for each metric ton of qualified carbon oxide which is captured by the taxpayer using carbon capture equipment which is originally placed in service at a qualified facility on or after the date of the enactment of the FUTURE Act . (c) Qualified carbon oxide For purposes of this section— (1) In general The term qualified carbon oxide means— (A) any carbon dioxide which— (i) is captured from an industrial source by carbon capture equipment which is originally placed in service before the date of the enactment of the FUTURE Act , (ii) would otherwise be released into the atmosphere as industrial emission of greenhouse gas or lead to such release, and (iii) is measured at the source of capture and verified at the point of disposal, injection, or utilization, (B) any carbon dioxide or other carbon oxide which— (i) is captured from an industrial source by carbon capture equipment which is originally placed in service on or after the date of the enactment of the FUTURE Act , (ii) would otherwise be released into the atmosphere as industrial emission of greenhouse gas or lead to such release, and (iii) is measured at the source of capture and verified at the point of disposal, injection, or utilization, or (C) in the case of a direct air capture facility,