US Congress House Bill 4953 (Prior Session Legislation)

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May 2 2012 - Referred to the Subcommittee on Trade.
Pending: House Subcommittee on Trade Committee
Text: Latest bill text (Introduced) [PDF]

Qualifying Renewable Chemical Production Tax Credit Act of 2012 - Amends the Internal Revenue Code to allow a business-related tax credit for the production of renewable chemicals. Defines "renewable chemical" as any chemical that is: (1) produced in the United States from renewable biomass; (2) sold or used by the taxpayer as polymers, plastics, or formulated products or for the production of polymers, plastics, or formulated products; and (3) not sold or used for the production of any food, feed, or fuel. Directs the Secretary of Agriculture to establish a five-year program to allocate credit amounts. Limits the total amount of allocable credits under such program to $500 million, with a limit of $25 million to any taxpayer in any taxable year.

Qualifying Renewable Chemical Production Tax Credit Act of 2012

Rep Pascrell, Bill, Jr.

Rep Bilbray, Brian P.

Rep Neal, Richard E.

Date	Chamber	Action
2012-05-02	House	Referred to the Subcommittee on Trade.
2012-04-26	House	Referred to the House Committee on Ways and Means.

SB3491 (Related) 2012-08-02 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	http://thomas.loc.gov/cgi-bin/bdquery/z?d112:HN04953:@@@L&summ2=m&
Text	http://gpo.gov/fdsys/pkg/BILLS-112hr4953ih/pdf/BILLS-112hr4953ih.pdf