Bill 119 HR 536, also known as the Energy Credit Extension for Biogas Property Act, aims to amend the Internal Revenue Code of 1986 to extend the energy credit for qualified biogas property. This bill focuses on providing tax incentives for the production of biogas, which is a renewable energy source created through the breakdown of organic matter such as agricultural waste, food scraps, and sewage.
The energy credit for qualified biogas property is currently set to expire, and this bill seeks to extend the credit to encourage continued investment in biogas production. By providing tax incentives, the bill aims to promote the use of biogas as a clean and sustainable energy source that can help reduce greenhouse gas emissions and dependence on fossil fuels.
If passed, this bill would benefit both producers of biogas and the environment by incentivizing the development of biogas projects and supporting the growth of the renewable energy industry. It is important to note that this bill is non-partisan and focuses solely on extending the energy credit for qualified biogas property without any political bias.