H.R. 8497

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8497 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8497 To amend the Internal Revenue Code of 1986 to extend biodiesel and renewable diesel incentives, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 27, 2026 Mr. Carey (for himself, Mr. Correa, Mr. Kelly of Pennsylvania, Mr. Carbajal, Mr. LaHood, Mr. Costa, Ms. Tenney, Mrs. Miller-Meeks, Mr. Johnson of South Dakota, Mrs. Hinson, and Mr. Mann) 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 extend biodiesel and renewable diesel incentives, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Supporting Energy and Economic Development (SEED) Act''. SEC. 2. EXTENSION OF BIODIESEL AND RENEWABLE DIESEL INCENTIVES. (a) Income Tax Credit.-- (1) In general.--Section 40A(g) of the Internal Revenue Code of 1986 is amended by striking ``2024'' and inserting ``2029''. (2) Denial of double benefit.--Section 40A of such Code is amended-- (A) by redesignating subsection (g) (as so amended) as subsection (h), and (B) by inserting after subsection (f) the following new subsection: ``(g) Denial of Double Benefit.--In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the amount determined under this section with respect to such fuel shall be zero.''. (b) Excise Tax Incentives.-- (1) Credit for fuels used for taxable purposes.-- (A) In general.--Section 6426(c)(6) of such Code is amended by striking ``2024'' and inserting ``2029''. (B) Denial of double benefit.--Section 6426(c) of such Code is amended-- (i) by redesignating paragraph (6) (as so amended) as paragraph (7), and (ii) by inserting after paragraph (5) the following new paragraph: ``(6) Denial of double benefit.--In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the amount determined under this subsection with respect to such fuel shall be zero.''. (2) Payments for fuels not used for taxable purposes.-- Section 6427(e)(6)(B) of such Code is amended by striking ``2024'' and inserting ``2029''. (c) Effective Date.--The amendments made by this section shall apply to fuel sold or used on or after the date of the enactment of this Act. <all>