[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 825 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 825

  To amend the Internal Revenue Code of 1986 to extend and expand tax 
                    incentives for renewable fuels.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 5, 2007

    Mr. Weller of Illinois 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 extend and expand tax 
                    incentives for renewable fuels.

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

SECTION 1. EXTENSION OF ALTERNATIVE TECHNOLOGY VEHICLE CREDIT.

    Subsection (j) of section 30B of the Internal Revenue Code of 1986 
(relating to alternative motor vehicle credit) is amended to read as 
follows:
    ``(j) Termination.--This section shall not apply to any property 
purchased after December 31, 2014.''.

SEC. 2. EXTENSION AND EXPANSION OF ALTERNATIVE FUEL VEHICLE REFUELING 
              PROPERTY CREDIT.

    (a) Extension.--Subsection (g) of section 30C of the Internal 
Revenue Code of 1986 is amended to read as follows:
    ``(g) Termination.--This section shall not apply to any property 
placed in service after December 31, 2024.''.
    (b) Increase.--Subsection (a) of section 30C of such Code is 
amended to read as follows:
    ``(a) Credit Allowed.--There shall be allowed as a credit against 
the tax imposed by this chapter for the taxable year an amount equal to 
the applicable percentage of the cost of any qualified alternative fuel 
vehicle refueling property placed in service by the taxpayer during the 
taxable year.
    ``(b) Applicable Percentage.--For purposes of subsection (a), the 
applicable percentage is--


``In the case of taxable years      The applicable percentage is:
 beginning during:
  2007 through 2011...............  75 percent
  2012 through 2016...............  50 percent
  2017 through 2025...............  25 percent.''.

    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.

SEC. 3. EXTENSION OF VOLUMETRIC EXCISE TAX CREDIT FOR ALTERNATIVE 
              FUELS; ALTERNATIVE FUEL MIXTURE CREDIT.

    (a) Volumetric Excise Tax Credit.--Paragraph (4) of section 6426(d) 
of the Internal Revenue Code of 1986 is amended to read as follows:
            ``(4) Termination.--This subsection shall not apply to any 
        sale or use after September 30, 2014.''.
    (b) Alternative Fuel Mixture Credit.--Paragraph (3) of section 
6426(e) of such Code is amended to read as follows:
            ``(3) Termination.--This subsection shall not apply to any 
        sale or use for any period after September 30, 2014.''.
    (c) Conforming Amendment.--Paragraph (5) of section 6427(e) of such 
Code is amended by adding ``and'' at the end of subparagraph (B), by 
striking subparagraphs (C) and (D) and inserting the following new 
subparagraph:
                    ``(C) any alternative fuel or alternative fuel 
                mixture (as defined in subsection (d)(2) or (e)(3) of 
                section 6426) sold or used after September 30, 2014.''.
    (d) Biodiesel Producer Credit.--Subsection (g) of section 40A of 
such Code is amended by striking ``December 31, 2008'' and inserting 
``December 31, 2024''.
    (e) Small Ethanol Producer Credit.--Paragraph (1) of section 40(e) 
of such Code is amended by adding at the end the following flush 
sentence:
        ``In the case of the small ethanol producer credit under 
        subsection (a)(3), the preceding sentence shall be applied by 
        substituting `December 31, 2024' for `December 31, 2010' and by 
        substituting `January 1, 2025' for `January 1, 2011'.''.
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