To prohibit the importation of petroleum and petroleum products from the Russian Federation, to amend the Internal Revenue Code of 1986 to establish an income tax credit for the sale or blending of certain fuels containing ethanol and to extend tax incentives for biodiesel and renewable diesel, to amend the Clean Air Act with respect to the ethanol waiver for Reid vapor pressure limitations under that Act, and for other purposes.
About This Bill
Committee
Latest Action · April 4, 2022
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Home Front Energy Independence Act
This bill prohibits the importation of petroleum and petroleum products from Russia until Russia recognizes the sovereignty and territorial integrity of Ukraine.
The bill allows a new tax credit for the sale or blending of ethanol fuels. It also extends through 2025 the income tax credit for biodiesel and renewable diesel used as fuel.
The bill modifies requirements relating to the waiver of ethanol reid vapor pressure limitations and E15 labeling.
The bill requires the Department of Agriculture to award grants to certain governmental entities for expanding the biofuel infrastructure and agriculture product market.
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