Biodiesel and Renewable Diesel Incentive Extension Act of 2016

Bill: 114-hr-5994
Sponsor: full_name: Rep. Black, Diane [R-TN-6]
Introduced: 2016-09-12
Policy area: Taxation
Subjects: Alternative and renewable resources

Income tax credits

Motor fuels

Sales and excise taxes
Latest action: action_date: 2016-09-12
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-09-12
action_desc: Introduced in House
text: <p><b>Biodiesel and Renewable Diesel Incentive Extension Act of 2016 </b></p> <p>This bill amends the Internal Revenue Code to extend through 2018: (1) the income tax credit for biodiesel and renewable diesel used as fuel, (2) the excise tax credit for biodiesel mixtures, and (3) the payments that are equivalent to the biodiesel mixture excise tax credit. </p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5994 IN THE HOUSE OF REPRESENTATIVES September 12, 2016 Mrs. Black 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 biodiesel and renewable diesel incentives.

1. Short title This Act may be cited as the Biodiesel and Renewable Diesel Incentive Extension Act of 2016 . 2. Extension of biodiesel and renewable diesel incentives (a) Income tax credit Subsection (g) of section 40A of the Internal Revenue Code of 1986 is amended by striking December 31, 2016 and inserting December 31, 2018 . (b) Excise tax incentives (1) In general Section 6426(c)(6) of such Code is amended by striking December 31, 2016 and inserting December 31, 2018 . (2) Payments Section 6427(e)(6)(B) of such Code is amended by striking December 31, 2016 and inserting December 31, 2018 . (c) Effective date The amendments made by this section shall apply to fuel sold or used after December 31, 2016.