- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Ways and MeansIntroducedApril 26th, 2010
- house Committees
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Grow a Renewable Energy Economy Now--Jumpstart Other Biofuels Act of 2010
To amend the Internal Revenue Code of 1986 to provide for an investment tax credit for biofuel facilities, and for other purposes.
Grow a Renewable Energy Economy Now--Jumpstart Other Biofuels Act of 2010 - Amends the Internal Revenue Code to: (1) allow a 30% energy tax credit for investments in qualified cellulosic and algae-based biofuel facilities; (2) extend through 2016 the special depreciation allowance for qualified cellulosic biofuel plant property; (3) include algae-based biofuel within the definition of cellulosic biofuel for purposes of the cellulosic biofuel producer tax credit; (4) exclude from the definition of cellulosic biofuel any processed fuel with an acid number greater than 25; (5) extend through 2016 the cellulosic biofuel producer tax credit; and (6) allow a direct payment of 30% of the basis of cellulosic and algae-based biofuel facility property.