To amend the Clean Air Act to include algae-based biofuel in the renewable fuel program and amend the Internal Revenue Code of 1986 to include algae-based biofuel in the cellulosic biofuel producer credit.

Summary

Amends the Clean Air Act to include algae-based biofuel in the renewable fuel program. Defines "algae-based biofuel," for purposes of such Act, as liquid fuel derived from the biomass of single- or multi-cellular organisms which are inherently aquatic and classified as non-vascular plants and that have lifecycle greenhouse gas emissions that are at least 60% less than the baseline for such emissions. Amends the Internal Revenue Code to: (1) expand the definition of cellulosic biofuel to include algae-based biofuel for purposes of the cellulosic biofuel producer tax credit; and (2) allow accelerated depreciation of property used to produce algae-based biofuel. Defines "algae-based biofuel" as any liquid fuel which is produced from the biomass of an algal organism (i.e., an organism that is primarily aquatic and classified as a non-vascular plant).

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 31 July 2009

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• Introduced in House (PDF)

  Introduced in House · EN · 31 July 2009

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• Introduced in House

  summary · EN · 31 July 2009

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