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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedOctober 30th, 2013

What is it?

This bill would provide a tax credit for any facility using methane conversion technology to make gasoline. The tax credit would also be applied to investment in qualifying methane-to-gas projects and technology. The bill would also provide an alternative fuel excise tax credit for gas made through methane conversion at any point prior to October 1st, 2024. 

The bill defines "qualified methane conversion technology" as 

a process for the molecular conversion of methane into hydrocarbons and the use of such hydrocarbons to replace or reduce the quantity of petroleum present in motor vehicle fuel and for the production of chemicals.

Impact

If enacted, the bill would provide deductions for methane-to-gas projects and investment in such projects.

Cost

A CBO cost estimate is currently unavailable.

AKA

Converting Methane Into Petroleum Act of 2013

Official Title

To amend the Internal Revenue Code of 1986 to allow a credit against income tax for facilities using a qualified methane conversion technology to provide transportation fuels and chemicals.

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