Bill Details
HR.549 - 119th Congress
Status
Latest action
2025-01-16 - Referred to the House Committee on Ways and Means.
Introduced Date
2025-01-16
Policy Area
Taxation
Committees
View committees (1)
Sponsors
8
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would end a federal tax credit for making certain clean fuels. In simple terms, it would remove a tax break that companies can use when they produce qualifying fuels that are meant to be cleaner than traditional fossil fuels. The change would apply starting with tax years after December 31, 2024.
- It would delete Section 45Z from the Internal Revenue Code, which is the part of the tax law that creates the credit.
- The bill would also remove the related listing for that section from the tax code’s table of contents.
- If enacted, the repeal would affect tax years beginning after December 31, 2024.
Official Summaries
This bill repeals the business tax credit for clean fuel production beginning in 2025. (Under current law, the business tax credit for clean fuel production is available for the production and sale of qualified transportation fuel between 2025 and 2027.)
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 549 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 549
To amend the Internal Revenue Code of 1986 to repeal the clean fuel
production credit.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 16, 2025
Ms. Van Duyne introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to repeal the clean fuel
production credit.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. REPEAL OF CLEAN FUEL PRODUCTION CREDIT.
(a) In General.--Part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 is amended by striking section 45Z (and
by striking the item relating to such section in the table of sections
for such part).
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2024.
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