Renewable Chemicals Act of 2017

Summary

Renewable Chemicals Act of 2017 This bill amends the Internal Revenue Code to allow a business-related tax credit for the production of renewable chemicals. The bill defines "renewable chemical" as any chemical that: (1) is produced in the United States from renewable biomass; (2) is sold or used for the production of chemical products, polymers, plastics, or formulated products or as chemicals, polymers, plastics, or formulated products; (3) has a biobased content of not less than 95%; (4) is the product of, or reliant upon, biological or thermal conversion of renewable biomass; (5) is not sold or used for the production of any food, feed, or fuel; and (6) is not a combination of certain specified renewable chemicals. The bill also allows a tax credit for investment in renewable chemical production facilities. The bill requires the Department of the Treasury to establish a program to allocate renewable chemical tax credit amounts to eligible taxpayers and imposes an aggregate limit on the amount of credits that may be allocated to not more than $500 million during the 5-year period after enactment of this bill.

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Timeline

1. 29 June 2017

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 29 June 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 29 June 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 29 June 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 June 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 29 June 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 29 June 2017

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Pascrell, Bill, Jr. [D-NJ-9] · D · Sponsor
• Rep. Sánchez, Linda T. [D-CA-38] · D · Sponsor
• Rep. Fitzpatrick, Brian K. [R-PA-1] · R · Sponsor
• Rep. Costello, Ryan A. [R-PA-6] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← Renewable Chemicals Act of 2017