Bill > S2353

This bill, the Biodiesel Tax Incentive Reform and Extension Act of 2015, aims to extend and modify tax incentives for biodiesel, a fuel derived from vegetable oils or animal fats. It extends the existing income tax credit for biodiesel and renewable diesel used as fuel, as well as the excise tax credit for biodiesel fuel mixtures, through March 31, 2016. Additionally, it introduces a new tax credit of $1.00 per gallon for biodiesel produced, which will be available through 2018, and includes provisions for an increased credit for small biodiesel producers, offering them an additional 10 cents per gallon on the first 15 million gallons produced annually.