A bill to amend the Internal Revenue Code of 1986 to extend the biodiesel fuels credit and the biodiesel mixture credit.

Bill 118 s 5582, also known as the Biodiesel Tax Credit Extension Act of 2020, is a proposed piece of legislation that aims to amend the Internal Revenue Code of 1986 in order to extend the biodiesel fuels credit and the biodiesel mixture credit.

The biodiesel fuels credit and the biodiesel mixture credit are tax incentives that were originally put in place to encourage the production and use of biodiesel fuels, which are considered to be more environmentally friendly than traditional fossil fuels.

If passed, this bill would extend these tax credits, which are currently set to expire at the end of 2022, for an additional two years. This extension would provide continued financial support to biodiesel producers and users, helping to promote the growth of the biodiesel industry and reduce greenhouse gas emissions. Overall, the Biodiesel Tax Credit Extension Act of 2020 aims to support the development and use of biodiesel fuels by providing tax incentives to producers and users, ultimately contributing to a more sustainable and environmentally friendly energy sector.