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Low Carbon Biofuel Credit Act

12/31/2022, 5:26 AM

Congressional Summary of S 2262

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.

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Current Status of Bill S 2262

Bill S 2262 is currently in the status of Bill Introduced since June 24, 2021. Bill S 2262 was introduced during Congress 117 and was introduced to the Senate on June 24, 2021.  Bill S 2262's most recent activity was Read twice and referred to the Committee on Finance. as of June 24, 2021

Bipartisan Support of Bill S 2262

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
3
Democrat Cosponsors
2
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 2262

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 2262

A 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.
Low Carbon Biofuel Credit Act
Low Carbon Biofuel Credit Act

Comments

Sponsors and Cosponsors of S 2262

Amy Klobuchar
Amy Klobuchar
MinnesotaDemocrat
John Thune
John Thune
South DakotaRepublican
Tina Smith
Tina Smith
MinnesotaDemocrat
Tammy Baldwin
Tammy Baldwin
WisconsinDemocrat

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