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116-hr-8879116th Congress

Renewable Chemicals Act of 2020

Sponsored By: Representative Pascrell, Bill, Jr. [D-NJ-9]

Unknown

Summary

Renewable Chemicals Act of 2020 This bill allows a new tax credit for the production of renewable chemicals. Specifically, it allows a credit for up to 15% of the sales price of each pound of a renewable chemical. A renewable chemical is any chemical that is produced in the United States from renewable biomass and is not less than 95% biobased content. The bill also allows a 30% tax credit for investment in renewable chemical production facilities.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Pascrell, Bill, Jr. [D-NJ-9]

NJ • D

Cosponsors

  • Rep. Fitzpatrick, Brian K. [R-PA-1]

    PA • R

    Sponsored 12/4/2020

Roll Call Votes

No roll call votes available for this bill.

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