HR 3586
110th Congress
House
Taxation
Commerce
Environmental Protection
Feedstock
Green products
Income tax
Organic compounds
Polymers
Public Lands and Natural Resources
Renewable natural resources
Tax credits
To amend the Internal Revenue Code of 1986 to allow a credit against income tax for the production of certain material produced from organic matter which is available on a renewable or recurring basis.
Introduced: September 19, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2007
Referred to the House Committee on Ways and Means.
Sep 19, 2007
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to allow a tax credit for qualifying biomaterial produced by a taxpayer for business use. Limits the annual amount of such credit to $125 million. Defines "qualifying biomaterial" as a commercial or industrial product produced by chemically or biologically transforming feedstocks at least 75% of which are used to produce organic matter available on a renewable or recurring basis.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1