1. Short title This Act may be cited as the Furthering carbon capture, Utilization, Technology, Underground storage, and Reduced Emissions Act or the FUTURE Act . 2. Enhancement of carbon dioxide sequestration credit (a) In general Section 45Q of the Internal Revenue Code of 1986 is amended to read as follows: 45Q. Credit for carbon oxide sequestration (a) General rule For purposes of section 38, the carbon oxide sequestration credit for any taxable year is an amount equal to the sum of— (1) $20 per metric ton of qualified carbon oxide which is— (A) captured by the taxpayer using carbon capture equipment which is originally placed in service at a qualified facility before the date of the enactment of the FUTURE Act , and (B) disposed of by the taxpayer in secure geological storage and not used by the taxpayer as described in paragraph (2)(B), (2) $10 per metric ton of qualified carbon oxide which is— (A) captured by the taxpayer using carbon capture equipment which is originally placed in service at a qualified facility before the date of the enactment of the FUTURE Act , and (B) (i) used by the taxpayer as a tertiary injectant in a qualified enhanced oil or natural gas recovery project and disposed of by the taxpayer in secure geological storage, or (ii) utilized by the taxpayer in a manner described in subsection (f)(5), (3) the applicable dollar amount (as determined under subsection (b)(1)) per metric ton of qualified carbon oxide which is— (A) 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 , during the 12-year period beginning on the date the equipment was originally placed in service, and (B) disposed of by the taxpayer in secure geological storage and not used by the taxpayer as described in paragraph (4)(B), and (4) the applicable dollar amount (as determined under subsection (b)(1)) per metric ton of qualified carbon oxide which is— (A) captured by the taxpayer using carbon