US Senate Tax Bill Would Extend Biodiesel, Cellulosic Tax Credits
(Platts) The $1.01/gal federal tax credit for cellulosic fuel production, as well as the $1/gal biodiesel tax credit, would each be extended under a proposal released Wednesday by the Senate Finance Committee.
The cellulosic credit would also be expanded to include fuel derived from algae. Both credits would be extended for one year, to expire on December 31, 2013. The biodiesel tax credit would be effective retroactively to December 31, 2011. READ MORE