Second Generation Biofuel Extension Act of 2013

Bill: 113-hr-3758
Sponsor: full_name: Rep. Peters, Scott H. [D-CA-52]
Introduced: 2013-12-12
Policy area: Taxation
Subjects: Alternative and renewable resources

Business investment and capital

Income tax credits

Income tax deductions
Latest action: action_date: 2013-12-12
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-12-12
action_desc: Introduced in House
text: <p>Second Generation Biofuel Extension Act of 2013 - Amends the Internal Revenue Code to extend through 2014: (1) the second generation biofuel producer tax credit, and (2) the depreciation allowance for second generation biofuel plant property. </p>

tv_txt: I 113th CONGRESS 1st Session H. R. 3758 IN THE HOUSE OF REPRESENTATIVES December 12, 2013 Mr. Peters of California introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to extend the second generation biofuel producer credit and the special allowance for second generation biofuel plant property.

1. Short title This Act may be cited as the Second Generation Biofuel Extension Act of 2013 . 2. Extension of second generation biofuel producer credit and special allowance for second generation biofuel plant property (a) Second generation biofuel producer credit Subparagraph (J) of section 40(b)(6) of the Internal Revenue Code of 1986 is amended by striking January 1, 2014 and inserting January 1, 2015 . (b) Special allowance for second generation biofuel plant property (1) Extension Subparagraph (D) of section 168(l)(2) of such Code is amended by striking January 1, 2014 and inserting January 1, 2015 . (2) Conforming amendments Paragraph (4) of section 168(l) of such Code is amended by striking and at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting , and , and by adding at the end the following new subparagraph: (C) by substituting January 1, 2015 for January 1, 2014 each place it appears therein. . (c) Effective date (1) Credit The amendment made by subsection (a) shall apply with respect to qualified second generation biofuel production after December 31, 2013. (2) Allowance The amendment made by subsection (b) shall apply with respect to property placed in service after December 31, 2013.