H.R.1149 - To amend the Clean Air Act to include algae-based biofuel in the renewable fuel program and amend the Internal Revenue Code of 1986 to include algae-based biofuel in the cellulosic biofuel producer credit.112th Congress (2011-2012)
|Sponsor:||Rep. Bilbray, Brian P. [R-CA-50] (Introduced 03/17/2011)|
|Committees:||House - Energy and Commerce; Ways and Means|
|Latest Action:||03/28/2011 Referred to the Subcommittee on Energy and Power.|
This bill has the status Introduced
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Summary: H.R.1149 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (03/17/2011)
Amends the Clean Air Act to include algae-based biofuel in the renewable fuel program. Defines "algae-based biofuel," for purposes of such Act, as liquid fuel derived from the biomass of single- or multi-cellular organisms which are inherently aquatic and classified as non-vascular plants and that have lifecycle greenhouse gas emissions that are at least 60% less than the baseline for such emissions.
Amends the Internal Revenue Code to: (1) expand the definition of cellulosic biofuel to include algae-based biofuel for purposes of the cellulosic biofuel producer tax credit; and (2) allow accelerated depreciation of property used to produce algae-based biofuel. Defines "algae-based biofuel" as any liquid fuel which is produced from the biomass of an algal organism (i.e., an organism that is primarily aquatic and classified as a non-vascular plant).