summary
Introduced
01/24/2017
01/24/2017
In Committee
01/24/2017
01/24/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Capitalizing on American Methane Act of 2017 This bill amends the Internal Revenue Code to: (1) include in the tax credit for investment in a qualifying gasification project any qualified methane conversion technology, and (2) allow an alternative fuel excise tax credit for liquid fuel produced through qualified methane conversion technology at a facility the construction of which begins before October 1, 2027. The bill defines "qualified methane conversion technology" as a process for the molecular conversion of a fuel consisting principally of methane into hydrocarbons and the use of such hydrocarbons to replace or reduce the quantity of petroleum present in motor vehicle fuel and for the production of chemicals.
AI Summary
This bill amends the Internal Revenue Code to incentivize the use of "qualified methane conversion technology" - a process that converts methane-based fuel into hydrocarbons to replace or reduce petroleum in motor vehicle fuel or for the production of chemicals. Specifically, the bill includes qualified methane conversion technology in the tax credit for investment in a qualifying gasification project, and allows an alternative fuel excise tax credit for liquid fuel produced through this technology at a facility constructed before October 1, 2027.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Read twice and referred to the Committee on Finance. (on 01/24/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/senate-bill/230/all-info |
| BillText | https://www.congress.gov/115/bills/s230/BILLS-115s230is.pdf |
| Bill | https://www.congress.gov/115/bills/s230/BILLS-115s230is.pdf.pdf |
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