II
111th CONGRESS
2d Session
S. 3231
IN THE SENATE OF THE UNITED STATES
April 20, 2010
Mr. Grassley (for himself, Mr. Conrad, Mr. Thune, Mr. Nelson of Nebraska, Mr. Johanns, Mr. Johnson, and Mr. Harkin) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to extend certain tax incentives for alcohol used as fuel and to amend the Harmonized Tariff Schedule of the United States to extend additional duties on ethanol.
Short title
This Act may be cited as the
Grow Renewable Energy from Ethanol
Naturally Jobs Act of 2010
or the GREEN
Jobs Act of 2010
.
Extension of income tax credit for alcohol used as fuel
In general
Paragraph (1) of section 40(e) of the Internal Revenue Code of 1986 is amended—
by striking
December 31, 2010
in subparagraph (A) and inserting
December 31, 2015
, and
by striking
January 1, 2011
in subparagraph (B) and inserting January
1, 2016
.
Cellulosic biofuel
Subparagraph (H) of section 40(b)(6) of such Code is
amended by striking January 1, 2013
and inserting January
1, 2016
.
Reduced amount for ethanol blenders
Paragraph (2) of section 40(h) of such Code
is amended by striking 2010
and inserting
2015
.
Effective date
The amendments made by this section shall take effect on the date of the enactment of this Act.
Extension of excise tax credit for alcohol used as fuel
In general
Paragraph (6) of section 6426(b) of the Internal Revenue
Code of 1986 is amended by striking December 31, 2010
and
inserting December 31, 2015
.
Effective date
The amendment made by this section shall take effect on the date of the enactment of this Act.
Extension of additional duties on ethanol
Headings 9901.00.50 and 9901.00.52 of the
Harmonized Tariff Schedule of the United States are each amended in the
effective period column by striking 1/1/2011
and inserting
1/1/2016
.