HOUSE 2532117th CongressReferred to the House Committee on Ways and Means.
Renewable Chemicals Act of 2021
- Last Action
- 4/14/2021
Actions
- 2021-04-14Referred to the House Committee on Ways and Means.
- 2021-04-14Introduced in House
- 2021-04-14Introduced in House
CRS Summary
As of 2021-04-14 (00)
Renewable Chemicals Act of 2021
This bill allows a new tax credit for the production of renewable chemicals. Specifically, it allows a credit for up to 15% of the sales price of each pound of a renewable chemical. A renewable chemical is any chemical that is produced in the United States from renewable biomass and is not less than 95% biobased content.
The bill also allows a 30% tax credit for investment in renewable chemical production facilities.
Cosponsors (2)
- Brian Fitzpatrick (R-PA)
- Dean Phillips (D-MN)
Subjects
- Alternative and renewable resources
- Income tax credits
- Industrial facilities
- Manufacturing
- Materials
Sourced from Congress.gov (public domain).
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