H.R.4843 - To amend the Internal Revenue Code of 1986 to provide tax incentives for the use of biodiesel as a fuel.107th Congress (2001-2002)
|Sponsor:||Rep. Hulshof, Kenny C. [R-MO-9] (Introduced 05/23/2002)|
|Committees:||House - Ways and Means; Agriculture|
|Latest Action:||06/04/2002 Referred to the Subcommittee on Conservation, Credit, Rural Development and Research. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4843 — 107th Congress (2001-2002)All Bill Information (Except Text)
Amends the Internal Revenue Code to establish a credit to promote the production and usage of biodiesel fuel. Requires a taxpayer to obtain a certification from the producer of the biodiesel which identifies the product produced in order to utilize the credit. Imposes a tax for biodiesel not used as fuel, but for which a credit was granted. Reduces motor fuel excise taxes on biodiesel mixtures.
Introduced in House (05/23/2002)
Provides for transfers of funds from the Commodity Credit Corporation to the Highway Trust Fund in amounts equivalent to the reductions that would occur but for this Act.