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.
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
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.