US Congress House Bill 3084 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Introduced on September 12 2013 - 25% progression, died in committee
Action: 2013-09-12 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Qualifying Renewable Chemical Production Tax Credit Act of 2013 - Expresses the sense of Congress that the United States should encourage the domestic production of renewable chemicals. 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 for the production of chemical products, polymers, plastics, or as chemicals, polymers, plastics, or formulated products; and (3) not sold or used for the production of any food, feed, or fuel. Exempts certain chemicals, including those with a biobased content of less than 25%. 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 2013

Rep. Bill Pascrell [D-NJ]	Rep. Richard Neal [D-MA]	Rep. Scott Peters [D-CA]	Rep. Linda Sanchez [D-CA]
Rep. Allyson Schwartz [D-PA]	Rep. Steve Stockman [R-TX]

Date	Chamber	Action
2013-09-12	House	Referred to the House Committee on Ways and Means.

SB1267 (Related) 2013-06-27 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/3084/all-info
Text	https://www.congress.gov/113/bills/hr3084/BILLS-113hr3084ih.pdf