# 114-hr-3390: Qualifying Renewable Chemical Production or Investment Tax Credit Act of 2015

114-hr-3390, Qualifying Renewable Chemical Production or Investment Tax Credit Act of 2015, is a 114th Congress bill sponsored by Rep. Pascrell, Bill, Jr. [D-NJ-9] (D-NJ); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

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## Facts
- Bill: 114-hr-3390
- Congress: 114
- Title: Qualifying Renewable Chemical Production or Investment Tax Credit Act of 2015
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2015-07-29
- Sponsor: Rep. Pascrell, Bill, Jr. [D-NJ-9] (D-NJ)
- Cosponsors: 6
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Qualifying Renewable Chemical Production or Investment Tax Credit Act of 2015 This bill amends the Internal Revenue Code to allow a business-related tax credit for the production of renewable chemicals. The bill defines "renewable chemical" as any chemical that: (1) is produced in the United States from renewable biomass; (2) is sold or used for the production of chemical products, polymers, plastics, or formulated products or as chemicals, polymers, plastics, or formulated products; (3) has a biobased content of 95% or higher; (4) is the product of, or reliant upon, biological or thermal conversion of renewable biomass; (5) is not sold or used for the production of any food, feed, or fuel; and (6) is not a combination of certain specified renewable chemicals. The bill also allows a tax credit for investment in renewable chemical production facilities. The bill requires the Department of the Treasury to establish a program to allocate renewable chemical tax credit amounts to eligible taxpayers and imposes an aggregate limit on the amount of credits that may be allocated to not more than $500 million during the 5-year period after enactment of this Act.

## Cosponsors (6)

- Rep. Ashford, Brad [D-NE-2] (D-NE), 2015-10-22T00:00:00.000Z
- Rep. Fitzpatrick, Michael G. [R-PA-8] (R-PA), 2015-07-29T00:00:00.000Z
- Rep. Neal, Richard E. [D-MA-1] (D-MA), 2015-07-29T00:00:00.000Z
- Rep. Costello, Ryan A. [R-PA-6] (R-PA), 2016-02-09T00:00:00.000Z
- Rep. Sánchez, Linda T. [D-CA-38] (D-CA), 2016-03-22T00:00:00.000Z
- RICHARD NOLAN (D-MN), 2016-12-08T00:00:00.000Z

## Related bills

- 114-hr-4626: BRACE Act
- 114-hr-3268: PAST Act
- 114-hr-2903: Craft Beverage Modernization and Tax Reform Act of 2015
- 114-hr-2096: Promotion and Expansion of Private Employee Ownership Act of 2015
- 114-hr-1786: James Zadroga 9/11 Health and Compensation Reauthorization Act
- 114-hr-1192: National Clinical Care Commission Act

## Sources
- [114-hr-3390 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/3390)

## Related
- [114-hr-4626: BRACE Act](https://policyrisk.com/legislation/114-hr-4626)
- [114-hr-3268: PAST Act](https://policyrisk.com/legislation/114-hr-3268)
- [114-hr-2903: Craft Beverage Modernization and Tax Reform Act of 2015](https://policyrisk.com/legislation/114-hr-2903)
- [114-hr-2096: Promotion and Expansion of Private Employee Ownership Act of 2015](https://policyrisk.com/legislation/114-hr-2096)
- [114-hr-1786: James Zadroga 9/11 Health and Compensation Reauthorization Act](https://policyrisk.com/legislation/114-hr-1786)
- [114-hr-1192: National Clinical Care Commission Act](https://policyrisk.com/legislation/114-hr-1192)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-3390 (as of 2025-11-18).