H.R. 4756

To amend the Internal Revenue Code of 1986 to limit the agri-biodiesel credit to oils produced from plants and animals.

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I

109th CONGRESS

2d Session

H. R. 4756

IN THE HOUSE OF REPRESENTATIVES

February 15, 2006

Mr. Butterfield (for himself, Mr. Jones of North Carolina, Mr. Bishop of Georgia, and Mr. Berry) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to limit the agri-biodiesel credit to oils produced from plants and animals.

1.

Agri-biodiesel credit limited to oils produced from plants and animals

(a)

In general

Paragraph (2) of section 40A(d) of the Internal Revenue Code of 1986 (defining agri-biodiesel) is amended to read as follows:

(2)

Agri-biodiesel

The term agri-biodiesel means biodiesel derived solely from virgin oils—

(A)

from esters derived from corn, soybeans, sunflower seeds, cottonseeds, canola, crambe, rapeseeds, safflowers, flaxseeds, rice bran, and mustard seeds, and

(B)

from animal fats.

.

(b)

Effective date

The amendment made by this section shall apply to biodiesel sold after the date of the enactment of this Act in taxable years ending after such date.