SECTION 5. APPLICABILITY DATE

This notice applies to secure geological storage occurring on or after January 1, 2025, and on or before December 31 of the calendar year in which the Treasury Department and the IRS publish further interim guidance in the Internal Revenue Bulletin or forthcoming proposed regulations in the Federal Register addressing compliance with requirements under § 45Q for secure geological storage. Taxpayers claiming the § 45Q credit for secure geological storage occurring on or after January 1, 2025, and on or before December 31 of the calendar year in which the Treasury Department and the IRS publish such guidance or forthcoming proposed regulations may rely upon this notice to satisfy the requirements of § 1.45Q-3(b) (1)(ii), 1.45Q-3(b)(2)(ii), or 1.45Q-2(h) (5)(iii), as applicable, § 1.45Q-3(d), and §1.45Q-5(a) and (c).