Biodiesel Tax Credit Extension Act of 2021

S. 1806 · 117th Congress · May 25, 2021 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to extend tax incentives for biodiesel and renewable diesel.

This Act may be cited as the “Biodiesel Tax Credit Extension Act of 2021”.

(a)

Income tax credit—

(1)

In general— Section 40A(g) is amended by striking “December 31, 2022” and inserting “December 31, 2025”.

(2)

Effective date— The amendment made by this subsection shall apply to fuel sold or used after December 31, 2022.

(b)

Excise tax incentives—

(1)

Termination—

(A)

In general— Section 6426(c)(6) is amended by striking “December 31, 2022” and inserting “December 31, 2025”.

(B)

Payments— Section 6427(e)(6)(B) is amended by striking “December 31, 2022” and inserting “December 31, 2025”.

(2)

Effective date— The amendments made by this subsection shall apply to fuel sold or used after December 31, 2022.

Lineage

May 25, 2021viewing Introduced in Senate Mr. Grassley (for himself, Ms. Cantwell, Ms. Ernst, Ms. Klobuchar, Mr. Marshall, Mrs. Shaheen, Mrs. Fischer, Mrs. Murray, Mr. Rounds, Ms. Smith, and Ms. Hirono) introduced the following bill; which was read twice and referred to the Committee on Finance