S. 1185 (112th): Ethanol Reform and Deficit Reduction Act

Introduced:
Jun 13, 2011 (112th Congress, 2011–2013)
Sponsor:
Sen. John Thune [R-SD]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on June 13, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 13, 2011
Referred to Committee Jun 13, 2011
Cosponsors
17 cosponsors (9D, 8R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to provide for a variable VEETC rate based on the price of crude oil, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jun 13, 2011.
13 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

6/13/2011--Introduced.
Ethanol Reform and Deficit Reduction Act - Amends the Internal Revenue Code to:
(1) link the amount of the volumetric ethanol excise tax credit (VEETC) for calendar quarters beginning after June 30, 2011, to the average price of crude oil in a calendar quarter,
(2) modify the rates of the income tax credit for alcohol used as fuel and extend such credit through 2014,
(3) extend the alternative fuel refueling property tax credit and the special depreciation allowance for cellulosic biofuel plant property, and
(4) make permanent the cellulosic biofuel producer tax credit.
Modifies the definition of "cellulosic biofuel" for purposes of the cellulosic biofuel producer tax credit and the special depreciation allowance to mean any liquid fuel that is derived solely by or from qualified feedstocks.
Defines "qualified feedstocks" as any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis and any cultivated algae, cyanobacteria, or lemna.

House Republican Conference Summary

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House Democratic Caucus Summary

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