Low Carbon Biofuel Credit Act

12/31/2022, 5:26 AM

Low Carbon Biofuel Credit Act

This bill allows certain taxpayers (defined by this bill as an oxygenate blender and a retailer) a new business-related income tax credit for the sale or blending of E15 gasoline (more than 13 and no more than 15 volume percent ethanol) and other fuels containing more than 15 volume percent ethanol.

Congress
117
Number
S - 2262
Introduced on
2021-06-24
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

6/24/2021
Text
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Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Low Carbon Biofuel Credit Act

This bill allows certain taxpayers (defined by this bill as an oxygenate blender and a retailer) a new business-related income tax credit for the sale or blending of E15 gasoline (more than 13 and no more than 15 volume percent ethanol) and other fuels containing more than 15 volume percent ethanol.

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to establish an income tax credit for the sale or blending of certain fuels containing ethanol.
Policy Areas
Taxation

Comments

Related

Bill Update Alert:  Low Carbon Biofuel Act

Recent Activity

Latest Summary8/3/2021

Low Carbon Biofuel Credit Act

This bill allows certain taxpayers (defined by this bill as an oxygenate blender and a retailer) a new business-related income tax credit for the sale or blending of E15 gaso...

Latest Action6/24/2021
Read twice and referred to the Committee on Finance.