Biodiesel Promotion Act of 2002 - Amends the Internal Revenue Code to establish, until December 31, 2012, a credit to promote the production and usage of biodiesel fuel. Imposes a tax for biodiesel not used as fuel, but for which a credit was granted. Reduces motor fuel excise taxes on biodiesel mixtures.
Provides for transfers of funds from the Commodity Credit Corporation to the Highway Trust Fund in amounts equivalent to the reductions that would occur but for this Act.
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Feb 14, 2002
Sponsor introductory remarks on measure. (CR S845)
Feb 13, 2002
Read twice and referred to the Committee on Finance.