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H.R. 684: To amend the Internal Revenue Code of 1986 to modify the incentives for the production of biodiesel.
To amend the Internal Revenue Code of 1986 to modify the incentives for the production of biodiesel.
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Introduced :
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Mon, Feb 14, 2011
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Sponsor :
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Status :
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introduced Mon, Feb 14, 2011
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May-12
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0 Total Hits For All Bills
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Co-Sponsors
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Actions
| Date | Type | Description | Result |
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1/1/0001
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action
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Sponsor introductory remarks on measure. (CR E222)
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1/1/0001
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action
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Referred to the House Committee on Ways and Means.
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Rolls
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Committee Assignments
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Subject Terms
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Related Legislative
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Amendments
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Titles Assigned
| Type | AS | Title |
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official
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introduced
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To amend the Internal Revenue Code of 1986 to modify the incentives for the production of biodiesel.
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SUMMARY:
2/14/2011--Introduced.
Amends the Internal Revenue Code to revise the income and excise tax credits for biodiesel used as fuel to: (1) allow a $1.00 tax credit for each gallon of biodiesel produced; (2) provide for an increased income tax credit for small biodiesel producers; (3) revise the definitions of "biodiesel" and "small biodiesel producer"; (4) treat renewable diesel in the same manner as biodiesel for income tax purposes; and (5) treat biodiesel as a taxable fuel for excise tax purposes. Extends the biodiesel income and excise tax credits through December 31, 2016.
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