One Big Beautiful Bill Act

(a) Internal Revenue Code (1) Exclusion of metallurgical coal under advanced manufacturing production credit Section 45X of the Internal Revenue Code of 1986, as amended by section 70514 of Public Law 119–21 (commonly known as the One Big Beautiful Bill Act), is amended— (A) in subsection (b)(1)(M), by striking (2.5 percent in the case of metallurgical coal), (B) in subsection (b)(3)— (i) in subparagraph (C)— (I) in the heading, by striking other than metallurgical coal, (II) in clause (i), by striking (other than metallurgical coal), and (III) in the heading of clause (ii), by striking other than metallurgical coal, and (ii) by striking subparagraph (E), and (C) in subsection (c)(6), by striking subparagraph (R). (2) Intangible drilling and development costs The amendments made by section 70523 of Public Law 119–21 are repealed and the Internal Revenue Code of 1986 shall be applied as if such amendments had not been enacted. (3) Income from carbon capture and hydrogen Section 7704(d)(1)(E) of the Internal Revenue Code of 1986, as amended by section 70524 of Public Law 119–21, is amended— (A) in clause (ii)(II), by inserting provided that such hydrogen is qualified clean hydrogen (as defined in section 45V(c)(1)(A)), after liquified hydrogen or compressed hydrogen,, and (B) by striking clause (iii). (b) Oil and gas, mining, and energy repeals The provisions of, and the amendments made by, sections 50101, 50102, 50103, 50104, 50105, 50201, 50202, 50203, 50204, and 50403 of Public Law 119–21 (commonly known as the One Big Beautiful Bill Act) (139 Stat. 72) are repealed, and any provision of law amended or repealed by those sections shall be applied as if such amendments or repeals had not been enacted. (c) Methane emissions and waste reduction incentive program Section 136(g) of the Clean Air Act (42 U.S.C. 7436(g)) (as amended by section 60012(b) of Public Law 119–21 (commonly known as the One Big Beautiful Bill Act)) (139 Stat. 72) is amended by striking calendar year 2034 and inserting calendar year 2024. (d) Repeal of project sponsor opt-In fees for environmental reviews Section 112 of the National Environmental Policy Act of 1969 (as added by section 60026 of Public Law 119–21 (commonly known as the One Big Beautiful Bill Act)) (139 Stat. 72) is repealed.