; and (iii) in the first sentence, by striking In carrying out and inserting the following: (1) In general In carrying out ; and (D) by adding at the end the following: (6) Certain carbon dioxide activities (A) In general In carrying out paragraph (3)(A) with respect to carbon dioxide, the Administrator shall carry out the activities described in each of subparagraphs (B), (C), (D), and (E). (B) Direct air capture research (i) Definitions In this subparagraph: (I) Board The term Board means the Direct Air Capture Technology Advisory Board established by clause (iii)(I). (II) Dilute The term dilute means a concentration of less than 1 percent by volume. (III) Direct air capture (aa) In general The term direct air capture , with respect to a facility, technology, or system, means that the facility, technology, or system uses carbon capture equipment to capture carbon dioxide directly from the air. (bb) Exclusion The term direct air capture does not include any facility, technology, or system that captures carbon dioxide— (AA) that is deliberately released from a naturally occurring subsurface spring; or (BB) using natural photosynthesis. (IV) Intellectual property The term intellectual property means— (aa) an invention that is patentable under title 35, United States Code; and (bb) any patent on an invention described in item (aa). (ii) Technology prizes (I) In general Not later than 1 year after the date of enactment of the USE IT Act , the Administrator, in consultation with the Secretary of Energy, shall establish a program to provide, and shall provide, financial awards on a competitive basis for direct air capture from media in which the concentration of carbon dioxide is dilute. (II) Duties In carrying out this clause, the Administrator shall— (aa) subject to subclause (III), develop specific requirements for— (AA) the competition process; and (BB) monitoring and verification procedures for approved projects