SECTION 8. PAPERWORK

REDUCTION ACT

The collection of information contained in this notice has been reviewed and approved by the Office of Management and

riety of geologic formations to ensure that USDWs are not endangered.

The proposed UIC program rules have not been finalized as of the date of this notice. Once the UIC program rules are finalized, any taxpayer claiming the § 45Q credit who is covered by the new program rules must follow the modeling, monitoring, well construction, and other requirements of the relevant permit as required under the rules. The requirements in the final UIC program rules (or any successor rules) will apply in lieu of the requirements of the IPCC Guidelines under paragraph (i). However, any taxpayer that is not covered by the final UIC program rules must continue to follow the procedures outlined in the IPCC Guidelines pursuant to paragraph (i).

(iii) Proposed Geologic Sequestration Rules . Subpart PP of the Final Mandatory GHG Reporting Rule announces EPA’s plans to propose new rules to require reporting of the amount of CO that is 2 geologically sequestered. EPA will seek comments on monitoring, reporting, and verification methodologies that can be used to determine the amount of CO 2 emitted and geologically sequestered at active EOR facilities and geologic sequestration sites where CO 2 is injected (for long-term storage) into saline aquifers, oil and gas reservoirs, or other geologic formations. When the proposed geologic sequestration rules are finalized, such rules (or any successor rules) will apply in addition to the final UIC program rules (to the extent applicable), and the requirements of the IPCC Guidelines under paragraph (i) will no longer apply.

(c) Compliance with Additional Reg- ulatory Requirements . EPA may impose additional or different requirements for secure geological storage, including additional methodology, inputs, and equations to calculate the amount of CO measured 2 and verified at the source of injection and/or the amount of CO emitted from 2 secure geological storage. Furthermore, various aspects of geologic sequestration, including well construction, operation, well plugging, and post-injection site closure may be subject to other existing or future requirements from government bodies, including EPA’s regional or state UIC programs. Any taxpayer claiming the § 45Q credit must follow such additional requirements together with the Reporting

Rule and the IPCC Guidelines (or, in lieu of the IPCC guidelines, the UIC program rule as applicable and the geologic sequestration rule, once they are finalized) in order to demonstrate secure geological storage for purposes of the § 45Q credit.