Bill > HR4181

This bill, the Biodiesel Tax Incentive Reform and Extension Act of 2015, aims to modify and extend tax incentives for biodiesel, a fuel derived from biomass. Key provisions include establishing a $1.00 per gallon tax credit for biodiesel produced in the United States, offering an increased credit for "eligible small biodiesel producers" (those with a productive capacity of 60 million gallons or less) on their first 15 million gallons, and treating "renewable diesel" (another type of fuel derived from biomass that can be used in standard diesel engines) the same as biodiesel for tax purposes. The bill also extends these biodiesel tax credits, which are available as both income and excise tax incentives, through December 31, 2018, and clarifies definitions for "biodiesel" and "eligible small biodiesel producer" to ensure the incentives are properly applied.