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H.R. 6290 (114th): To amend the Internal Revenue Code of 1986 to extend certain tax incentives for biodiesel, renewable diesel, and alternative fuels.

The text of the bill below is as of Sep 28, 2016 (Introduced).

Source: GPO

I

114th CONGRESS

2d Session

H. R. 6290

IN THE HOUSE OF REPRESENTATIVES

September 28, 2016

(for himself and Mr. Costa) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend certain tax incentives for biodiesel, renewable diesel, and alternative fuels.

1.

Extension of biodiesel and renewable diesel incentives

(a)

Income tax credit

(1)

In general

Subsection (g) of section 40A of the Internal Revenue Code of 1986 is amended by striking December 31, 2016 and inserting December 31, 2018.

(2)

Effective date

The amendment made by this subsection shall apply to fuel sold or used after December 31, 2016.

(b)

Excise tax incentives

(1)

In general

Section 6426(c)(6) of such Code is amended by striking December 31, 2016 and inserting December 31, 2018.

(2)

Payments

Section 6427(e)(6)(B) of such Code is amended by striking December 31, 2016 and inserting December 31, 2018.

(3)

Effective date

The amendments made by this subsection shall apply to fuel sold or used after December 31, 2016.

2.

Extension of excise tax credits relating to alternative fuels

(a)

Extension of alternative fuels excise tax credits

(1)

In general

Sections 6426(d)(5) and 6426(e)(3) of the Internal Revenue Code of 1986 are each amended by striking December 31, 2016 and inserting December 31, 2018.

(2)

Outlay payments for alternative fuels

Section 6427(e)(6)(C) of such Code is amended by striking December 31, 2016 and inserting December 31, 2018.

(b)

Effective date

The amendments made by this section shall apply to fuel sold or used after December 31, 2016.