H.R. 8497

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8497 Introduced in House (IH)]

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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.
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