[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5582 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 5582

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            December 18 (legislative day, December 16), 2024

Mr. Tillis (for himself, Mr. Ricketts, Mr. Grassley, Mrs. Fischer, and 
  Ms. Ernst) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


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

    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 Tax Credit Extension Act 
of 2024''.

SEC. 2. EXTENSION OF BIODIESEL AND RENEWABLE DIESEL CREDIT AND 
              BIODIESEL MIXTURE CREDIT.

    (a) Extension of Biodiesel and Renewable Diesel Credit.--
            (1) In general.--Section 40A(g) of the Internal Revenue 
        Code of 1986 is amended by striking ``2024'' and inserting 
        ``2025''.
            (2) Denial of double benefit.--Section 40A of such Code is 
        amended--
                    (A) by redesignating subsection (g) (as amended by 
                paragraph (1)) as subsection (h), and
                    (B) by inserting after subsection (f) the following 
                new subsection:
    ``(g) Denial of Double Benefit.--In the case of any fuel with 
respect to which a credit is allowed under section 45Z(a) for any 
taxable year, the amount determined under this section with respect to 
such fuel shall be zero.''.
    (b) Extension of Biodiesel Mixture Credit.--
            (1) Extension of credit for fuels used for taxable 
        purposes.--
                    (A) In general.--Section 6426(c)(6) of the Internal 
                Revenue Code of 1986 is amended by striking ``2024'' 
                and inserting ``2025''.
                    (B) Denial of double benefit.--Section 6426(c) of 
                such Code is amended by adding at the end the following 
                new paragraph:
            ``(7) Denial of double benefit.--In the case of any fuel 
        with respect to which a credit is allowed under section 45Z(a) 
        for any taxable year, the applicable amount determined under 
        this paragraph (2) with respect to such fuel shall be zero.''.
            (2) Extension of credit for fuels not used for taxable 
        purposes.--Section 6427(e)(6)(B) of such Code is amended by 
        striking ``2024'' and inserting ``2025''.
    (c) Effective Date.--The amendments made by this section shall 
apply to fuel sold or used after December 31, 2024.
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