H.R. 4168: Algae-based Renewable Fuel Promotion Act

H.R. 4168

Algae-based Renewable Fuel Promotion Act

Sponsor
Rep. Harry Teague

Date
September 29, 2010 (111th Congress, 2nd Session)

Staff Contact
Communications

Floor Situation

H.R. 4168 is expected to be considered on the House floor on Wednesday, September 29, 2010, under a suspension of the rules, requiring a two-thirds majority vote for passage.  This legislation was introduced by Rep. Harry Teague (D-NM) on December 1, 2009. 

Bill Summary

The bill would amend the Internal Revenue Code to expand the definition of a cellulosic biofuel to include algae-based biofuel for the purposes of the cellulosic biofuel producer tax credit.  The bill would also allow accelerated depreciation of property used to produce algae-based biofuels. 

 

Possible Member Concerns:  Members may be concerned about providing government subsidies for the expansion of algae-based biofuels.

Cost

According to JCT, this provision will decrease revenues by less than $500,000 over 10 years.