109 HR 5650 IH: Renewable Fuels and Energy U.S. House of Representatives 2006-06-20 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 109th CONGRESS 2d Session H. R. 5650 IN THE HOUSE OF REPRESENTATIVES June 20, 2006 Mr. Hulshof (for himself, Mr. Pomeroy, Mr. Nussle, Mr. Peterson of Minnesota, Mr. Shimkus, Mr. Terry, Mr. Boswell, Mr. Osborne, Mr. Emanuel, Mr. Moran of Kansas, Mr. Salazar, Mr. Moore of Kansas, and Ms. Herseth) 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 make permanent certain tax incentives for ethanol and biodiesel used as a fuel.

1.

Short title

This Act may be cited as the Renewable Fuels and Energy Independence Promotion Act of 2006.

2.

Credits for alcohol and biodiesel used as a fuel made permanent

(a)

Income tax

(1)

Alcohol

Section 40 of the Internal Revenue Code of 1986 (relating to alcohol used as a fuel) is amended by striking subsection (e). (2)

Biodiesel

Section 40A of such Code (relating to biodiesel and renewable diesel used as fuel) is amended by striking subsection (g). (b)

Excise tax

(1)

Alcohol mixture used as a fuel

Subsection (b) of section 6426 of such Code (relating to alcohol fuel mixture credit) is amended by striking paragraph (5). (2)

Biodiesel mixture used as a fuel

Subsection (c) of section 6426 of such Code (relating to biodiesel mixture credit) is amended by striking paragraph (6). (3)

Alcohol and biodiesel mixtures not used for taxable purposes

Paragraph (5) of section 6427(e) of such Code, as amended by the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users, is amended— (A)by striking subparagraphs (A) and (B), (B)by redesignating subparagraphs (C) and (D) as subparagraphs (A) and (B), respectively, and (C)in subparagraph (A), as so redesignated, by striking subparagraph (D) and inserting subparagraph (B).