H.R. 3084 · 113th Congress
Qualifying Renewable Chemical Production Tax Credit Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PascrellSponsor5 cosponsors · 4 D, 1 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Qualifying Renewable Chemical Production Tax Credit Act of 2013 - Expresses the sense of Congress that the United States should encourage the domestic production of renewable chemicals.
What it does: CRS summary · Introduced in House · Sep 12, 2013
Qualifying Renewable Chemical Production Tax Credit Act of 2013 - Expresses the sense of Congress that the United States should encourage the domestic production of renewable chemicals.
Amends the Internal Revenue Code to allow a business-related tax credit for the production of renewable chemicals. Defines "renewable chemical" as any chemical that is: (1) produced in the United States from renewable biomass; (2) sold or used by the taxpayer for the production of chemical products, polymers, plastics, or as chemicals, polymers, plastics, or formulated products; and (3) not sold or used for the production of any food, feed, or fuel. Exempts certain chemicals, including those with a biobased content of less than 25%.
Directs the Secretary of Agriculture to establish a five-year program to allocate credit amounts. Limits the total amount of allocable credits under such program to $500 million, with a limit of $25 million to any taxpayer in any taxable year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Qualifying Renewable Chemical Production Tax Credit Act of 2013
Latest action (Sep 12, 2013): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Sep 12, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.