Biodiesel Tax Credit Extension Act of 2021

Bill: 117-hr-3472
Sponsor: full_name: Rep. Axne, Cynthia [D-IA-3]
Introduced: 2021-05-25
Policy area: Taxation
Subjects: Alternative and renewable resources

Income tax credits

Motor fuels

Sales and excise taxes
Latest action: action_date: 2021-05-25
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2021-05-25
action_desc: Introduced in House
text: <p><strong>Biodiesel Tax Credit Extension Act of 2021</strong></p> <p>This bill extends the income and excise tax credits for biodiesel and renewable diesel used as fuel through 2025.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 3472 IN THE HOUSE OF REPRESENTATIVES May 25, 2021 Mrs. Axne (for herself, Mr. Kelly of Pennsylvania , Mrs. Hinson , Mr. Bacon , Mr. Bost , Mrs. Bustos , Mr. Courtney , Ms. Craig , Ms. DeLauro , Mr. Feenstra , Mrs. Fischbach , Mr. Guest , Mr. Hagedorn , Mr. Himes , Mr. Johnson of South Dakota , Mr. Kinzinger , Mr. LaHood , Mr. Larson of Connecticut , Mrs. Miller-Meeks , Mr. Pence , Ms. Sewell , Mrs. Walorski , Ms. Newman , Mr. Hern , Mr. Cicilline , and Mrs. Wagner ) 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 for 3 years tax credits with respect to biodiesel and renewable diesel.

1. Short title This Act may be cited as the Biodiesel Tax Credit Extension Act of 2021 . 2. Biodiesel and renewable diesel (a) Income tax credit (1) In general Section 40A(g) of the Internal Revenue Code of 1986 is amended by striking 2022 and inserting 2025 . (2) Effective date The amendment made by this subsection shall apply to fuel sold or used after December 31, 2022. (b) Excise tax incentives (1) Termination (A) In general Section 6426(c)(6) of such Code is amended by striking 2022 and inserting 2025 . (B) Payments Section 6427(e)(6)(B) of such Code is amended by striking 2022 and inserting 2025 . (2) Effective date The amendments made by this subsection shall apply to fuel sold or used after December 31, 2022.