To amend the Internal Revenue Code of 1986 to modify the incentives for biodiesel.
Biodiesel Tax Incentive Reform and Extension Act of 2016
This bill amends the Internal Revenue Code to modify and extend: (1) the income tax credit for biodiesel and renewable diesel used as fuel, and (2) the excise tax credit for biodiesel fuel mixtures.
The bill: (1) makes the credits available to domestic producers of the fuels rather than the policy under current law of providing a mixture credit to the blender of the fuel, (2) increases the income tax credit for certain small biodiesel producers, and (3) extends the credits through 2019.
Referred to the House Committee on Ways and Means.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 198.
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S8380-8381)
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S8607-8609)
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S5085)
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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