S 3188
114th Congress
Senate
Taxation
Alternative and renewable resources
Income tax credits
Motor fuels
Sales and excise taxes
Biodiesel Tax Incentive Reform and Extension Act of 2016
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 13, 2016
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S5085)
Jul 13, 2016
Introduced in Senate
Plain-English summary
Biodiesel Tax Incentive Reform and Extension Act of 2016
This bill amends the Internal Revenue Code to modify and extend: (1) the income tax credit for biodiesel and renewable diesel used as fuel, and (2) the excise tax credit for biodiesel fuel mixtures.
The bill: (1) makes the credits available to domestic producers of the fuels rather than the policy under current law of providing a mixture credit to the blender of the fuel, (2) increases the income tax credit for certain small biodiesel producers, and (3) extends the credits through 2019.
What's happening now
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S5085)
Committees of jurisdiction
1