Ethanol Reform and Deficit Reduction Act
Official title: A bill to amend the Internal Revenue Code of 1986 to provide for a variable VEETC rate based on the price of crude oil, and for other purposes.
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Read twice and referred to the Committee on Finance.
Ethanol Reform and Deficit Reduction Act - Amends the Internal Revenue Code to: (1) link the amount of the volumetric ethanol excise tax credit (VEETC) for calendar quarters beginning after June 30, 2011, to the average price of crude oil in a calendar quarter, (2) modify the rates of the income tax credit for alcohol used as fuel and extend such credit through 2014, (3) extend the alternative fuel refueling property tax credit and the special depreciation allowance for cellulosic biofuel plant property, and (4) make permanent the cellulosic biofuel producer tax credit.
Modifies the definition of "cellulosic biofuel" for purposes of the cellulosic biofuel producer tax credit and the special depreciation allowance to mean any liquid fuel that is derived solely by or from qualified feedstocks. Defines "qualified feedstocks" as any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis and any cultivated algae, cyanobacteria, or lemna.
- Introduced in Senate Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). S. 1185: Ethanol Reform and Deficit Reduction Act. 112th Congress. Open America. https://openamerica.io/bill/112-S-1185/
"S. 1185: Ethanol Reform and Deficit Reduction Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-1185/.
S. 1185, 112th Cong. (2026), https://openamerica.io/bill/112-S-1185/.
[S. 1185: Ethanol Reform and Deficit Reduction Act](https://openamerica.io/bill/112-S-1185/)