117th CONGRESS 1st Session |
To amend the Internal Revenue Code of 1986 to extend for 3 years tax credits with respect to biodiesel and renewable diesel.
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
To amend the Internal Revenue Code of 1986 to extend for 3 years tax credits with respect to biodiesel and renewable diesel.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Biodiesel Tax Credit Extension Act of 2021”.
SEC. 2. Biodiesel and renewable diesel.
(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.
(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.