Democratic Representative Mike Thompson of California introduced the Taxpayer Certainty and Disaster Tax Relief Act of 2019.

The bill is designed to extend several biofuel and bioenergy-related tax credits.

 

“For far too long, Congress has not extended important tax provisions on a forward-looking basis, resulting in confusion and uncertainty for taxpayers,” Thompson says.

“We just took the first step toward untangling this mess.”

 

He says the Taxpayer Certainty and Disaster Tax Relief Act of 2019 extends a number of provisions that expired at the end of 2017 and 2018, as well as those that will expire at the end of this year.

The bill would extend the $1-per-gallon tax credit for biodiesel and biodiesel mixtures, as well as the small Agri-biodiesel producer credit of 10 cents per gallon through 2020.

The bill treats renewable diesel the same as biodiesel, except there’s no small producer tax credit. The second-generation biofuel producer credit would also be extended through 2020.