Congress 108 - HR 1942 - To amend the Internal Revenue Code of 1986 to provide tax incentives for the use of biodiesel as a fuel.

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Agricultural wastes Agriculture and Food Alternative energy sources Commerce Diesel motor Economics and Public Finance Energy Environmental Protection Excise tax Feedstock Government trust funds Highway finance Income tax Oils and fats Refuse as fuel Tax credits Tax rates Taxation Transportation and Public Works

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Summary

Amends the Internal Revenue Code to establish a credit to promote the production and usage of biodiesel fuel. Requires a taxpayer to obtain a certification from the producer of the biodiesel which identifies the product produced in order to utilize the credit. 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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May 7, 2003

Executive Comment Requested from USDA.
May 7, 2003

Referred to the Subcommittee on Department Operations, Oversight, Nutrition and Forestry.
May 1, 2003

Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 1, 2003

Introduced in House

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