Biodiesel Tax Credit Extension Act of 2021

Bill: 117-s-1806
Sponsor: full_name: Sen. Grassley, Chuck [R-IA]
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: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2021-05-25
action_desc: Introduced in Senate
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: II 117th CONGRESS 1st Session S. 1806 IN THE SENATE OF THE UNITED STATES May 25, 2021 Mr. Grassley (for himself, Ms. Cantwell , Ms. Ernst , Ms. Klobuchar , Mr. Marshall , Mrs. Shaheen , Mrs. Fischer , Mrs. Murray , Mr. Rounds , Ms. Smith , and Ms. Hirono ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to extend tax incentives for biodiesel and renewable diesel.

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