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house Bill H.R. 5343

Advanced Biofuel Investment Act of 2010

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Trade
      Committee on Energy and Commerce
      Committee on Ways and Means
    IntroducedMay 19th, 2010

Bill Details

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Title

Advanced Biofuel Investment Act of 2010

Official Title

To amend the Internal Revenue Code of 1986 to provide an investment tax credit for advanced biofuel production property.

Summary

Advanced Biofuel Investment Act of 2010 - Amends the Internal Revenue Code to allow a 30% energy tax credit for investment in qualified advanced biofuel production property. Defines "qualified advanced biofuel production property" as property used to produce biofuel which meets the definition of advanced biofuel in the Farm Security and Rural Investment Act of 2002 and has lifecycle greenhouse gas emissions that are at least 50% less than baseline lifecycle greenhouse gas emissions required by the Clean Air Act. Terminates such credit after 2015. Amends the American Recovery and Reinvestment tax Act of 2009 to allow investors in qualified advanced biofuel production property a grant in lieu of a tax credit for investment in such property.

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