This bill modifies the federal renewable fuel program to provide incentives for producing cleaner biofuels with lower greenhouse gas emissions. The EPA must create new rules within one year to award extra credits, called Renewable Identification Numbers (RINs), to ethanol producers and advanced biofuel makers who achieve significant emissions reductions compared to baseline fuels, with bonus multipliers ranging from 0.3 to 1.0 depending on the level of emissions reduction achieved. The legislation expands what qualifies as advanced biofuel to include corn starch-based ethanol and allows farmers implementing emissions-reducing practices to receive credit toward the program, with the EPA required to coordinate with the Department of Agriculture to verify eligible farmland and establish standards for measuring greenhouse gas reductions. The bill requires the EPA to streamline its approval process for new fuel pathways with mandatory timelines and creates reporting requirements for Congress on the program's environmental impacts. These changes take effect the first calendar year after the bill's enactment.
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