H.R. 3264 - Biodiesel, Renewable Diesel, and Alternative Fuels Extension Act of 2017

115TH CONGRESS
1ST SESSION

H.R. 3264

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

IN THE HOUSE OF REPRESENTATIVES

JULY 17, 2017

Mrs. BLACK (for herself, Mr. KIND, Mr. VALADAO, 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 and modify certain tax incentives for biodiesel, renewable diesel, and alternative fuels.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘‘Biodiesel, Renewable Diesel, and Alternative Fuels Extension Act of 2017’’.

SEC. 2. EXTENSION OF BIODIESEL AND RENEWABLE DIESEL INCENTIVES.

(a) INCOME TAX CREDIT. —

(1) EXTENSION. — Subsection (g) of section 40A of the Internal Revenue Code of 1986 is amended by striking ‘‘December 31, 2016’’ and inserting ‘‘December 31, 2021’’.

(2) PHASEDOWN. — Subsection (b) of section 40A of such Code is amended by adding at the end the following:

‘‘(5) PHASEDOWN. — In the case of taxable years beginning after 2018, paragraphs (1)(A) and (2)(A) shall each be applied by substituting for ‘$1.00’ the following:

‘‘(A) ‘$0.75’ for taxable years beginning in 2019, and

‘‘(B) ‘$0.50’ for taxable years beginning after 2019.’’.

(b) EXCISE TAX INCENTIVES. —

(1) CREDIT. — Paragraph (6) of section 6426(c) of such Code is amended by striking ‘‘December 31, 2016’’ and inserting ‘‘December 31, 2021’’.

(2) PAYMENTS. — Subparagraph (B) of section 6427(e)(6) of such Code is amended by striking ‘‘December 31, 2016’’ and inserting ‘‘December 31, 2021’’.

(3) PHASEDOWN. — Paragraph (2) of section 6426(c) of such Code is amended by inserting before the period at the end the following: ‘‘($0.75 for fuel sold or used in 2019 and $0.50 for fuel sold or used after 2019)’’.

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to fuel sold or used after December 31, 2016.

SEC. 3. EXTENSION OF EXCISE TAX CREDITS RELATING TO ALTERNATIVE FUELS.

(a) EXTENSION OF ALTERNATIVE FUELS EXCISE TAX CREDITS. —

(1) IN GENERAL. — Paragraph (5) of section 6426(d) and paragraph (3) of section 6426(e) of the Internal Revenue Code of 1986 are each amended by striking ‘‘December 31, 2016’’ and inserting ‘‘December 31, 2021’’.

(2) OUTLAY PAYMENTS FOR ALTERNATIVE FUELS. — Subparagraph (C) of section 6427(e)(6) of such Code is amended by striking ‘‘December 31, 2016’’ and inserting ‘‘December 31, 2021’’.

(3) PHASEDOWN. —

(A) ALTERNATIVE FUEL CREDIT. — Paragraph (1) of section 6426(d) of such Code is amended by inserting ‘‘(37.5 cents for fuel sold or used in 2019 and 25 cents for fuel sold or used after 2019)’’ after ‘‘50 cents’’.

(B) ALTERNATIVE FUEL MIXTURE CREDIT. — Paragraph (1) of section 6426(e) of such Code is amended by inserting ‘‘(37.5 cents for fuel sold or used in 2019 and 25 cents for fuel sold or used after 2019)’’ after ‘‘50 cents’’.

(b) EFFECTIVE DATE. — The amendments made by this section shall apply to fuel sold or used after December 31, 2016.