To amend the Internal Revenue Code of 1986 to extend certain tax incentives for biodiesel, renewable diesel, and alternative fuels.

Bill: 114-hr-6290
Sponsor: full_name: Rep. Valadao, David G. [R-CA-21]
Introduced: 2016-09-28
Policy area: Taxation
Latest action: action_date: 2016-09-28
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-09-28
action_desc: Introduced in House
text: <p>This bill amends the Internal Revenue Code to extend through 2018: </p> <ul> <li> the income tax credit for biodiesel and renewable diesel used as fuel, </li> <li>the excise tax credit for biodiesel mixtures, </li> <li> the payments that are equivalent to the biodiesel mixture excise tax credit, </li> <li> the excise tax credit for alternative fuels, </li> <li> the excise tax credit for alternative fuel mixtures, and </li> <li>the payments that are equivalent to the alternative fuels excise tax credit. </li> </ul>

tv_txt: I 114th CONGRESS 2d Session H. R. 6290 IN THE HOUSE OF REPRESENTATIVES September 28, 2016 Mr. Valadao (for himself and Mr. Costa ) 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 certain tax incentives for biodiesel, renewable diesel, and alternative fuels.

1. Extension of biodiesel and renewable diesel incentives (a) Income tax credit (1) In general Subsection (g) of section 40A of the Internal Revenue Code of 1986 is amended by striking December 31, 2016 and inserting December 31, 2018 . (2) Effective date The amendment made by this subsection shall apply to fuel sold or used after December 31, 2016. (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 . (3) Effective date The amendments made by this subsection shall apply to fuel sold or used after December 31, 2016. 2. Extension of excise tax credits relating to alternative fuels (a) Extension of alternative fuels excise tax credits (1) In general Sections 6426(d)(5) and 6426(e)(3) of the Internal Revenue Code of 1986 are each amended by striking December 31, 2016 and inserting December 31, 2018 . (2) Outlay payments for alternative fuels Section 6427(e)(6)(C) of such Code is amended by striking December 31, 2016 and inserting December 31, 2018 . (b) Effective date The amendments made by this section shall apply to fuel sold or used after December 31, 2016.