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119-s-4408119th CongressWALLET
Supporting Energy and Economic Development (SEED) Act
Sponsored By: Senator Blackburn, Marsha [R-TN]
Introduced
Summary
This bill would extend and coordinate biodiesel and renewable diesel tax incentives. It keeps mixture and production credits active through specific transition windows and stops the same fuel from receiving overlapping federal credits.
Show full summary
- Producers and blenders would get a redefined and extended biodiesel mixture credit and biodiesel credit under Internal Revenue Code section 40A(g). Credits are phased using dates around Dec 31, 2024 and Dec 31, 2029 to manage the transition to SEED.
- Fuel sellers and buyers for taxable uses would retain excise-tax credits because the bill extends Section 6426(c)(6) eligibility through the SEED transition and after 2029. It also bars the clean fuel production credit under section 45Z when an excise credit applies to the same fuel.
- Sellers of fuels not used for taxable purposes would remain eligible for payments under Section 6427 with matching transition windows, so those payments follow the same post-2024 and post-2029 timing rules.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New biodiesel tax credit rules
This bill would extend when biodiesel and related excise tax credits apply for fuel sales or uses. Sales or uses after December 31, 2024 and before the date of enactment would be treated as covered, and sales or uses after December 31, 2029 would also be covered. The amendments would apply to fuel sold or used on or after the date of enactment. The bill would also block overlapping benefits: if a fuel gets the clean fuel production credit, the biodiesel credit for that fuel would be zero. It would also forbid a clean fuel credit for any fuel that already gets an excise credit or payment under the excise payment rules.
Sponsors & CoSponsors
Sponsor
Blackburn, Marsha [R-TN]
TN • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov