A bill to provide emergency disaster assistance to agricultural producers, to impose tariff-rate quotas on certain casein and milk protein concentrates, and to amend the Internal Revenue Code of 1986 to provide tax relief for farmers and the producers of biodiesel, and for other purposes.
Amends the Harmonized Tariff Schedule of the United States to impose tariff-rate quotas (quantitative import limits) and provide various duty rates on certain casein, caseinates, milk protein concentrate, and other casein derivatives and glues imported into the United States (except imports from Mexico).
Authorizes the President to: (1) enter into a trade agreement with a foreign country to grant new concessions as compensation in order to maintain the general level of reciprocal and mutually advantageous concessions; and (2) proclaim any necessary modification or continuance of any existing duty, or continuance of existing duty-free or excise treatment. Sets forth certain limits on the reduction of duties on such products.
Biodiesel Renewable Fuels Act - Amends the Internal Revenue Code to: (1) allow a tax credit of between 3 and 20 cents per gallon for soy or specified vegetable based biodiesel fuel mixtures; and (2) make corresponding reductions to motor fuel excise taxes.
Amends the Energy Policy Act of 1922 to set forth Federal agency (except the Department of Defense) purchasing requirements for ethanol-blended gasoline and biodiesel for use in agency vehicles.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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