[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6354 Introduced in House (IH)]







109th CONGRESS
  2d Session
                                H. R. 6354

 To amend the Internal Revenue Code of 1986 to increase the credit for 
                       biodiesel used as a fuel.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 5, 2006

 Mr. Burgess 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 increase the credit for 
                       biodiesel used as a fuel.

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

SECTION 1. INCREASE IN PER GALLON RATE FOR BIODIESEL CREDIT.

    (a) Income Tax Credit.--Paragraphs (1)(A) and (2)(A) of section 
40A(b) of the Internal Revenue Code of 1986 (defining biodiesel mixture 
credit and biodiesel credit) are both amended by striking ``50 cents'' 
and inserting ``$1.00''.
    (b) Excise Tax Credit.--Paragraph (2) of section 6426(c) of such 
Code (relating to biodiesel mixture credit) is amended to read as 
follows:
            ``(2) Applicable amount.--The applicable amount is 
        $1.00.''.
    (c) Conforming Amendments.--
            (1) Section 40A(b) of such Code is amended by striking 
        paragraph (3) and redesignating paragraphs (4) and (5) as 
        paragraphs (3) and (4), respectively.
            (2) Section 40A(d)(3)(C)(ii) of such Code is amended by 
        striking ``subsection (b)(5)(B)'' and inserting ``subsection 
        (b)(4)(B)''.
            (3) Paragraphs (2) and (3) of section 40A(e) of such Code 
        are both amended by striking ``subsection (b)(5)(C)'' and 
        inserting ``subsection (b)(4)(C)''.
            (4) Section 40A(f)(2) of such Code is amended to read as 
        follows:
            ``(2) Exception.--Subsection (b)(4) shall not apply with 
        respect to renewable diesel.''.
    (d) Effective Dates.--
            (1) In general.--Except as provided by paragraph (2), the 
        amendments made by this section shall apply with respect to 
        fuel sold or used in taxable years beginning after the date of 
        the enactment of this Act.
            (2) Excise tax.--The amendment made by subsection (b) shall 
        apply with respect to any sale, use, or removal after the date 
        of the enactment of this Act.
                                 <all>