Section 1 Short title
This Act may be cited as the “Biodiesel and Renewable Diesel Incentive Extension Act of 2016”.
Biodiesel and Renewable Diesel Incentive Extension Act of 2016
A BILL
To amend the Internal Revenue Code of 1986 to extend biodiesel and renewable diesel incentives.
Sec. 2 Extension of biodiesel and renewable diesel incentives
Income tax credit— Subsection (g) of section 40A of the Internal Revenue Code of 1986 is amended by striking “December 31, 2016” and inserting “December 31, 2018”.
Excise tax incentives—
In general— Section 6426(c)(6) of such Code is amended by striking “December 31, 2016” and inserting “December 31, 2018”.
Payments— Section 6427(e)(6)(B) of such Code is amended by striking “December 31, 2016” and inserting “December 31, 2018”.
Effective date— The amendments made by this section shall apply to fuel sold or used after December 31, 2016.