Biogas Production Incentive Act of 2007

Summary

Biogas Production Incentive Act of 2007 - Amends the Internal Revenue Code to allow a business tax credit for the production and sale of biogas. Defines "biogas" as a gas that is derived by processing qualified energy feedstock (i.e., manure of agricultural livestock and other waste material) in an anaerobic digester and which contains at least 60% methane and carbon dioxide and trace gases. Amends the Farm Security and Rural Investment Act of 2002 to direct the Secretary of Agriculture to: (1) use Commodity Credit Corporation funds for making countercyclical payments to qualified biogas producers for biogas production facilities placed in service before December 31, 2013; and (2) make loans, loan guarantees, and grants to providers of qualified energy feedstock for collecting and transporting such feedstock to a biogas facility or for the purchase or construction of equipment of facilities for such collection and transportation activities.

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Timeline

1. 18 April 2007

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 18 April 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 18 April 2007 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 April 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 April 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 18 April 2007

  Open at official source

Sponsors

• Sen. Nelson, Ben [D-NE] · D · Sponsor
• Rep. Craig, Larry E. [R-ID-1] · R · Sponsor
• Sen. Allard, Wayne [R-CO] · R · Cosponsor
• Sen. Hagel, Chuck [R-NE] · R · Cosponsor
• Rep. Cochran, Thad [R-MS-4] · R · Cosponsor
• John Thune · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Biogas Production Incentive Act of 2007
• related to → Biogas Production Incentive Act of 2008