‘‘(c) ELECTION TO HAVE CREDIT NOT APPLY.—A 
taxpayer may elect to have this section not apply for any 
taxable year.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) CREDIT TO BE PART OF GENERAL BUSI-
NESS CREDIT.—Subsection (b) of section 38 of such 
Code (relating to current year business credit) is 
amended by striking ‘‘plus’’ at the end of paragraph 
(30), by striking the period at the end of paragraph 
(31) and inserting ‘‘, plus’’, and by adding at the 
end the following new paragraph: 
‘‘(32) the mass transportation fringe credit de-
termined under section 45O(a).’’. 
(2) CLERICAL AMENDMENT.—The table of sec-
tions for subpart D of part IV of subchapter A of 
chapter 1 of such Code is amended by adding at the 
end the following new item: 
‘‘45O. Credit for employer costs of providing certain mass transportation fringe 
benefits to their employees.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2007. 
SEC. 323. CLARIFICATION OF FEDERAL EMPLOYEE BENE-
FITS. 
Section 7905 of title 5, United States Code, is 
amended— 
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(1) in subsection (a)— 
(A) in paragraph (2)(C) by inserting 
‘‘and’’ after the semicolon; 
(B) in paragraph (3) by striking ‘‘; and’’ 
and inserting a period; and 
(C) by striking paragraph (4); and 
(2) in subsection (b)(2)(A) by amending sub-
paragraph (A) to read as follows: 
‘‘(A) a qualified transportation fringe as 
defined in section 132(f)(1) of the Internal Rev-
enue Code of 1986;’’. 
SEC. 324. EXTENSION OF TRANSPORTATION FRINGE BEN-
EFIT TO BICYCLE COMMUTERS. 
(a) IN GENERAL.—Paragraph (1) of section 132(f) 
of the Internal Revenue Code of 1986 (relating to general 
rule for qualified transportation fringe) is amended by 
adding at the end the following: 
‘‘(D) Bicycle commuting allowance.’’. 
(b) BICYCLE COMMUTING ALLOWANCE DEFINED.— 
Paragraph (5) of section 132(f) of such Code (relating to 
definitions) is amended by adding at the end the following: 
‘‘(F) BICYCLE COMMUTING ALLOWANCE.— 
The term ‘bicycle commuting allowance’ means 
an amount provided to an employee for trans-
portation on a bicycle if such transportation is 
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in connection with travel between the employ-
ee’s residence and place of employment.’’. 
(c) LIMITATION ON EXCLUSION.—Paragraph (2) of 
section 132(f) of such Code is amended by striking ‘‘sub-
paragraphs (A) and (B)’’ and inserting ‘‘subparagraphs 
(A), (B), and (D)’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2007. 
Subtitle C—Emissions Reductions 
and Oil Savings 
CHAPTER 1—BIOFUELS SECURITY 
SEC. 331. SHORT TITLE. 
This chapter may be cited as the ‘‘Biofuels Security 
Act of 2007’’. 
Subchapter A—Renewable Fuels 
SEC. 341. RENEWABLE FUEL PROGRAM. 
Section 211(o)(2) of the Clean Air Act (42 U.S.C. 
7545(o)(2)) is amended by striking subparagraph (B) and 
inserting the following: 
‘‘(B) APPLICABLE VOLUME.— 
‘‘(i) IN GENERAL.—For the purpose 
of subparagraph (A), the applicable volume 
for calendar year 2010 and each calendar 
year thereafter shall be determined, by 
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rule, by the Administrator, in consultation 
with the Secretary of Agriculture and the 
Secretary of Energy, in a manner that en-
sures that— 
‘‘(I) the requirements described 
in clause (ii) for specified calendar 
years are met; and 
‘‘(II) the applicable volume for 
each calendar year not specified in 
clause (ii) is determined on an annual 
basis. 
‘‘(ii) REQUIREMENTS.—The require-
ments referred to in clause (i) are— 
‘‘(I) for calendar year 2010, at 
least 10,000,000,000 gallons of re-
newable fuel; 
‘‘(II) for calendar year 2020, at 
least 30,000,000,000 gallons of re-
newable fuel; and 
‘‘(III) for calendar year 2030, at 
least 60,000,000,000 gallons of re-
newable fuel.’’. 
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