Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
I
116TH CONGRESS
1ST SESSION H. R. 2089
To amend the Internal Revenue Code of 1986 to extend for 2 years tax
credits with respect to biodiesel and renewable diesel.
IN THE HOUSE OF REPRESENTATIVES
APRIL 4, 2019
Ms. FINKENAUER (for herself, Mrs. AXNE, Mr. KIND, Mr. KELLY of Pennsyl-
vania, Mr. SMITH of Nebraska, Ms. DELAURO, Mrs. WALORSKI, Mr.
LAHOOD, Mrs. CRAIG, Mr. LOEBSACK, Mr. DANNY K. DAVIS of Illinois,
Mrs. BUSTOS, Mr. PASCRELL, and Mr. LARSON of Connecticut) intro-
duced 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
for 2 years tax credits with respect to biodiesel and
renewable diesel.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Biodiesel Tax Credit
4
Extension Act of 2019’’.
5
SEC. 2. BIODIESEL AND RENEWABLE DIESEL.
6
(a) INCOME TAX CREDIT.—
7
VerDate Sep 11 2014
03:17 Apr 16, 2019
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H2089.IH
H2089
kjohnson on DSK79L0C42 with BILLS
2
•HR 2089 IH
(1) IN GENERAL.—Section 40A(g) of the Inter-
1
nal Revenue Code of 1986 is amended by striking
2
‘‘December 31, 2017’’ and inserting ‘‘December 31,
3
2019’’.
4
(2) EFFECTIVE DATE.—The amendment made
5
by this subsection shall apply to fuel sold or used
6
after December 31, 2017.
7
(b) EXCISE TAX INCENTIVES.—
8
(1) TERMINATION.—
9
(A) IN GENERAL.—Section 6426(c)(6) of
10
such Code is amended by striking ‘‘December
11
31, 2017’’ and inserting ‘‘December 31, 2019’’.
12
(B) PAYMENTS.—Section 6427(e)(6)(B) of
13
such Code is amended by striking ‘‘December
14
31, 2017’’ and inserting ‘‘December 31, 2019’’.
15
(2) EFFECTIVE DATE.—The amendments made
16
by this subsection shall apply to fuel sold or used
17
after December 31, 2017.
18
(3) SPECIAL RULE FOR 2018.—Notwithstanding
19
any other provision of law, in the case of any bio-
20
diesel mixture credit properly determined under sec-
21
tion 6426(c) of the Internal Revenue Code of 1986
22
for the period beginning on January 1, 2018, and
23
ending on December 31, 2018, such credit shall be
24
allowed, and any refund or payment attributable to
25
VerDate Sep 11 2014
03:17 Apr 16, 2019
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2089.IH
H2089
kjohnson on DSK79L0C42 with BILLS
3
•HR 2089 IH
such credit (including any payment under section
1
6427(e) of such Code) shall be made, only in such
2
manner as the Secretary of the Treasury (or the
3
Secretary’s delegate) shall provide. Such Secretary
4
shall issue guidance within 30 days after the date of
5
the enactment of this Act providing for a one-time
6
submission of claims covering periods described in
7
the preceding sentence. Such guidance shall provide
8
for a 180-day period for the submission of such
9
claims (in such manner as prescribed by such Sec-
10
retary) to begin not later than 30 days after such
11
guidance is issued. Such claims shall be paid by such
12
Secretary not later than 60 days after receipt. If
13
such Secretary has not paid pursuant to a claim
14
filed under this subsection within 60 days after the
15
date of the filing of such claim, the claim shall be
16
paid with interest from such date determined by
17
using the overpayment rate and method under sec-
18
tion 6621 of such Code.
19
Æ
VerDate Sep 11 2014
03:17 Apr 16, 2019
Jkt 089200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H2089.IH
H2089
kjohnson on DSK79L0C42 with BILLS