A bill to amend the Internal Revenue Code of 1986 to establish an income tax credit for the sale or blending of certain fuels containing ethanol.
Low Carbon Biofuel Credit Act
This bill allows certain taxpayers (defined by this bill as an oxygenate blender and a retailer) a new business-related income tax credit for the sale or blending of E15 gasoline (more than 13 and no more than 15 volume percent ethanol) and other fuels containing more than 15 volume percent ethanol.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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